Mangaluru expat stranded in Saudi reveals ordeal on social media, ISF helps him return home

New Delhi, Feb 2: Budget 2020 announcement that insurance behemoth LIC will be listed was well received by market participants who said this will be "IPO of the decade" akin to the Saudi Aramco listing.

Finance Minister Nirmala Sitharaman on Saturday said Life Insurance Corporation (LIC) will be listed as part of the government disinvestment initiative.

A "highlight of the budget is the LIC IPO, which is akin to the Saudi Aramco listing for Indian capital markets, and will be IPO of the decade," Vijay Bhushan, President, Association of National Exchanges Members of India (ANMI) said.

According to Krishna Kumar Karwa, Managing Director, Emkay Global Financial Services, the LIC IPO will be a big positive for corporate governance and transparency and will open up one more avenue for fund raising for the government over the years.

Metropolitan Stock Exchange, Interim CEO, Balu Nair said: "The LIC listing will be eagerly awaited by investors and will provide huge fillip to capital raising through the primary market." The government proposes to sell a part of its holding in LIC through an initial public offer, Sitharaman said while presenting Budget 2020-21.

"The government will sell part of LIC through its listing in the stock market which is also a positive trigger for the market," Amit Gupta, CO-Founder and CEO, TradingBells.

Jaideep Hansraj, MD and CEO of Kotak Securities said listing of LIC would help bridge a gap in the Fiscal Deficit for FY21.

Currently, the government owns the entire 100 per cent stake in LIC.

Saudi Aramco shares were listed in December last year.

Udupi, Jul 14: Kundapura police in Karnataka have booked a case against a businessman who had violated home quarantine rules as many as 163 times.

Accused Sahab Singh had arrived at his rented house at Koteshwara from Mumbai on June 29. He was asked to remain quarantined in his house till July 13. 

However, he was found loitering and visiting hotels in Udupi. Officials tracked his movement through mobile GPS. He breached the quarantine period 163 times. 

Following the violation, Flying Squad officer N G Bhat filed a complaint against Singh in Kundapura Police Station under IPC Sections 269, and 270.

Udupi, Jun 27: The Indian Meteorological Department and the Karnataka State Natural Disaster Monitoring Centre have sounded Orange alert in coastal Karnataka as there is all possibility of heavy rain lashing the region for the next three days from Saturday.

According to the forecast, the district may get 100 mm to 115 mm rainfall. The District Disaster Management Authority (DDMA) has given instructions on taking precautions in the district.

All officers of district and taluk-levels have been told to compulsorily remain in the central position. The citizens should take care not to venture into rivers or the sea. They should also stay away from electricity poles, buildings, and trees, which might prove dangerous, and take shelter in safer places.