Mangalorean dies in Saudi road crash; Family in Vamanjoor shell-shocked

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.

Shivamogga, May 21: A quarantine facility at Bapuji Nagar in Shivamogga on Wednesday evening was vandalised, by a group of people. leading to chaos.

The police had to resort to baton-charge to control the situation.

Locals were opposing the facility, which is being used to isolate travellers from different states in the view of coronavirus.

Deputy Commissioner KB Sivakumar said that the police department will investigate and book a case against the protesters.

Kozhikode, Jun 14: A mosque in Kuttichira of Kozhikode has found a unique way to avoid crowding amid the COVID-19 pandemic. The committee that runs the mosque has started issuing smart cards to people for offering prayers and simultaneously encouraging social distancing.

"The committee has given smart cards with numbers to the people in the surroundings of the Masjid. One who enters the mosque premises has to rub their hands with sanitizers. They also have to tell their identity on camera. The automatic system has been put in place to save the address and phone number. Next time onwards they have to say their smart card number only so that other details will be automatically filled," said Muhammad Sajjad, who is part of the Mosque committee.

"The door of the mosque will open automatically after swiping the card. We have fit in a sensor on the doors. We have also made marks inside the mosque area so that people can abide by social distancing norm," he added.

A couple of days back the Kerala government has rolled out an order allowing the opening of places of worship, malls and restaurants from June 9 in strict accordance with guidelines and social distancing norms. As per the guidelines, pregnant women and those with co-morbidities should not visit any places of worship. Those with symptoms should not be allowed.