BSY worst CM state has ever seen: HDK

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.

Kasaragod, June 2: As Kerala commenced fresh academic year with online classes from Monday, a ninth-standard student at Malappuram district in North Kerala ended life allegedly owing to lack of online study facilities like television connection and a smartphone at her house.

Devika, daughter of Balakrishnan, hailing from a Dalit community at Valancherry, about 25 kilometres from Malappuram town, ended her life.

Balakrishnan told the media that he could not recharge the television connection owing to financial crunches. He was working as a daily wage worker and owing to COVID-19 and lockdown, he was not having much work these days. 

The family also did not have a smartphone or computer. The family members alleged that Devika was quite upset as she could not attend the virtual class that began on Monday. She was a student of a nearby government school.

Local police said that Devika, who was the eldest among four children of Balakrishnan, was suspected to have self-immolated using kerosene at a premise close to her house on Monday evening. The cause and provocations were still being probed only. No suicide notes were recovered yet.

Bengaluru, May 18: Senior Congress leader and former Union Minister Mallikarjuna Kharge on Monday slammed the State Government’s decision to appoint administrative committees to Panchayats, which completes their five-year term, shortly.

Speaking to media persons, the Congress leader described the State Government’s decision on appointing committees as a ‘death knell ‘ to the basic characters of the Panchayat bodies, which were elected on a non-party basis.

Strongly recommending the BJP-led government to desist from its decision, Kharge urged Chief minister B S Yediyurappa to extend the term of the elected bodies of the Panchayats by six months.