Mangaluru’s Shanthi Prakashana takes part in 36th Sharjah international book fair

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.

Dammam: Indian Social Forum, Dammam, Karnataka chapter organized a "Live along with COVID-19" webinar on 29 May 2020 in association with HealthCare Polyclinic, Dammam.

The webinar at Zoom App. featured over 150+ resident Kannadigas from Saudi Arabia's eastern and neighboring provinces.

Dr. Shailendranath made a presentation on the program and gave useful information. Indian Social Forum Dammam, Karnataka Chapter President Sharif Joktake delivered the keynote address. General Secretary Irshad Jokatte stalled the program.

Karnataka on Saturday reported 12 new cases, the highest in a single day so far, taking the tally in the state to 76.

Late at night, the Mysuru district commissioner said five more people had tested positive in the district. But it was yet to be confirmed by the state health department.

Of the cases, 41 are from Bengaluru, eight from Chikkaballapur, while Uttara Kannada and Dakshina Kannada districts have seven each.

Interestingly, the highest number of patients are those from Dubai or those who had transit travel via Dubai. Out of 76 cases, 17 cases (22%) have travel history to Dubai, the capital of Emirate of Dubai and the most populous city in the United Arab Emirates (UAE).

Medical Education Minister Dr K Sudhakar, who is also in-charge of COVID-19 operations, said that Dubai has been a major concern as far as Karnataka COVID-19 patients are concerned. “Most of the positive cases have come through Dubai suggesting something amiss there,” he said. 

Echoing the same, Dr Prakash Kumar, Joint Director, Communicable Diseases, Department of Health and Family Welfare, said, “The layover in Dubai is around six to seven hours. We are seeing Dubai to be the new epicentre of the virus as far as India is concerned.”

UAE was initially not on the list of countries from where passengers were screened. It was added much later when clusters of patients with travel history to Dubai began popping up all over the country.

Patient-19 has infected the maximum so far.

Out of the 12 cases that tested positive on Saturday, five are contacts of Patient 19. All of them are being treated at a Chikkaballapur hospital. Two of them are from Hindupur, Andhra Pradesh, and three are residents of Gauribidanur taluk in Chikkabalapur district.

P19, a 31-year-old man from Chikkaballapur, had travelled to Mecca, Saudi Arabia, and returned to India on March 14. Existing patient clusters suggest that P19 had infected the maximum number of people. Officials did not reveal how many people he originally travelled with to Mecca.

Amid the rise in cases, Jawaid Akhtar, Additional Chief Secretary (Health), maintained that the state had not reached stage 3. But he had no definitive answer as to how the Mysuru patient contracted the virus despite health officials he was in touch with not testing positive.

Health Commissioner Pankaj Kumar Pandey said around 1,000 primary contacts of all positive cases have been classified as high-risk and low-risk. The high-risk patients are in government hospitals while the low-risk ones in quarantine facilities.