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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.

Mangaluru: Continuing the relief work they started in the wake of the Corona Lockdown, ‘Team B-Human’ a local social organization is reaching out to the migrant workers who are stuck here in the region, unable to return to the homes.

Team of volunteers of the organization reached out to the migrant workers and distributed essential items including clothes and footwear of men, women, and kids.

Earlier, the organization had reached out to thousands of migrant workers and needy families and had helped them with food kits, Ramadan Kits along with medical assistance to many.

Several migrant workers recently moved back to their respective states, villages with their families, while others, unable to move back for various reasons are stuck here facing several difficulties and plights. The relief work by ‘Team B Human’ has helped several families of migrant workers in these distressing times.

Hubli, Mar 15: Karnataka Chief Minister BS Yediyurappa on Sunday said that his government has asked Centre to help in setting up of labs in view of the coronavirus cases.

Speaking to reporters after reviewing the situation in the state on coronavirus, Yediyurappa said, "No new cases were reported on Saturday and Sunday. The cases reported are of people who came from abroad. Government has made all preparation to fight against this. We have asked the central government to help in setting up labs wherever required, shortly we will do it."

"We have taken a lot of precautions to prevent the spread of coronavirus. For the first time shutdown has been declared for a week. People are also cooperating with us, we will take a further decision after one week," he added.

Karnataka government has said that as of now six cases of COVID-19 have been reported in the state, including one person who died.

"Till date six COVID-19 cases have been reported in the state including one death. The 5 Coronavirus positive cases are in isolation at the designated hospital in Bengaluru," the Karnataka government said on Sunday.