#lics

LIC’s investment in shares rises to 3.97% in April-June quarter

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Life Insurance Corp. of India (LIC), the largest domestic institutional investor in Indian stock markets, raised its stake in listed companies to 3.97% in the April-June period.

LIC’s holding in 292 companies listed on the NSE were at 3.88% in the March quarter on an aggregate basis by value percentage, but fell from 4.12% in the year-ago quarter, data from Prime Infobase showed. In…

IDBI Bank plans to bring banking and insurance to the same platform

IDBI Bank described that it has strategized to be one of a kind. The only leading state-owned insurer LIC now holds a significant position in IDBI Bank. In such a way LIC and IDBI Bank will analyze the full potential of business synergies.

On March 10, IDBI Bankdescribed that it has strategized to be one of a kind. It has decided that the banking and insurance sector will be working under a…

IDBI seeks govt nod for LIC’s 51% stake buy move

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MUMBAI: The IDBI Bank board has decided to forward to the government a proposal from the Life Insurance Corporation (LIC) to pick up a 51% stake in the bank and play the role of a promoter.

According to sources, the board is likely to approve a preferential issue of shares after the proposal is cleared by the Cabinet.

Speaking to newspersons after the board meeting on Tuesday, IDBIBank…