Ibrahim takes oath as MLC

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.

Karnataka, Mar 18: Karnataka State Cricket Association (KSCA) has asked its administrative staff to work from home until further order amid coronavirus outbreak.

KSCA has taken various measures to mitigate the risk of spreading coronavirus. The association had already closed down all section of the sports centre and also given off to all the sports centre staff from March 14.

"Ksca had already closed down all section of the sports centre and also given off to all the sports centre staff w.e.f 14th March 2020. Further to that, now it is decided that most of the KSCA administrative staff will be working from home until further orders," KSCA Treasurer and official spokesperson Vinay Mruthyunjaya said in a statement.

"All the KSCA employees have been advised strictly to be at home and should not travel and be available on phones and mails. However skeleton staff will be deputed at KSCA to make sure ongoing works like grounds maintenance, regular maintenance etc., is not affected," he added.

Bengaluru, May 29: A cost-effective state of the art glove box testing booth for swab collection was inaugurated by Karnataka Medical Education Minister Dr K Sudhakar at Victoria hospital.

Inaugurating the specially designed booth for safer, easier and quicker testing, Medical Education Minister Dr Sudhakar said that the portable booths can be used at border check posts and hot spots.

"The testing method involves the collection of samples from inside a box of aluminium and glass. The suspected corona virus-infected individual, whose samples are being taken, has to walk up to the booth and stand in front of the glass exterior. The healthcare worker inside the kiosk collects the sample and then, follows the sanitisation process before proceeding to take the next sample. The collection process, fully contactless, gets over in five minutes," the Minister said.

Dr Sudhakar also said: "This booth significantly reduces manpower requirement and the need for PPE kits. The main advantages of this procedure are that it needs fewer healthcare workers and strictly adheres to the norms of social distancing. 

The booth is low-cost. Each model costs about Rs 15,000-20,000."
It is also portable and can be mounted on a vehicle and transported to any location.

It can be particularly useful for collecting samples in hot spots and border checkpoints, he added.