Life Insurance Corporation (LIC) may require at least five more years to comply with the minimum public shareholding of 25 per cent beyond the current exempted timeline of 2027. Formal communication in this regard had been shared recently with the finance ministry, underlining LIC’s roadmap, plans of further dilution of stake, current norms around public float, and challenges ahead, a government source familiar with the matter said. “Going forward, we will have to take a call, along with Sebi (Securities and Exchange Board of India) and the Department of Economic Affairs on the roadmap for minimum public shareholding (MPS).
Posts tagged Rediff
Ministry scraps human safety tests for EV batteries (07-09-2023)
The Centre on Wednesday scrapped the mandatory human safety tests for electric vehicle (EV) batteries required to qualify for incentives under various government schemes. The ministry of heavy industries, in its fresh guidelines, has made compliance with the ministry of road transport and highways (MoRTH’s) prevailing EV battery testing standards the only requirement to get incentives under the Centre’s various incentive schemes.
Sensex revisits 66K; Nifty surges 116 points (07-09-2023)
From the Sensex pack, Larsen and Toubro jumped 4.26 per cent to emerge as the biggest gainer, followed by IndusInd Bank, Tech Mahindra, State Bank of India, HCL Technologies, Power Grid, NTPC, Axis Bank, Kotak Mahindra Bank, HDFC Bank and Wipro. Mahindra and Mahindra, Infosys, UltraTech Cement and Hindustan Unilever were the major laggards.
Oyo’s India CEO, Europe head resign ahead of IPO (07-09-2023)
IPO-bound hospitality major Oyo’s India Chief Executive Officer (CEO) Ankit Gupta and the head of its Europe business Mandar Vaidya have resigned. A company spokesperson told Business Standard that the two had moved on from their roles six months ago in March 2023. During the same period, Oyo had rejigged its top management, where the company’s COO Abhinav Sinha was reassigned as Chief Product and Technology Officer, while Chief Business Development Officer Anuj Tejpal was reappointed as Global Chief Merchant Officer.
JSW group keen to launch EV at Rs 15-20 lakh price tag (07-09-2023)
The promoter entities of JSW Group are in talks with several electric-car manufacturers in China to launch an electric car for the Indian market at Rs 15-20 lakh, a source close to the development said.
Sales, outlook strong for P and G Hygiene and Healthcare (07-09-2023)
P and G Hygiene and Healthcare’s June quarter numbers were better than Street estimates, led by strong sales and robust margins. The company, which owns leading consumer brands like Whisper, Vicks and Old Spice, posted a 12.6 per cent year-on-year (Y-o-Y) growth in sales at Rs 852.5 crore during the quarter. The double digit sales growth, led by expansion of its distribution reach, reverses a sluggish sales graph with three of the last four quarters reporting a fall in sales.
‘There is not a major worry on the price front’ (07-09-2023)
‘I believe that as we produce more, our cost will come down further. We will maintain our competitiveness.’
Quick Commerce Startup Zepto is 1st Unicorn in 2023 (07-09-2023)
Quick commerce startups hope to race towards better days. Can they crack the execution code?
EVs: Why LFP Is The Next Big Thing (07-09-2023)
From the customer point of view too, LFP batteries are safer and offer a longer life.
Cars Of The Future (07-09-2023)
Passenger vehicles, motorcycles, bikes and commercial vehicles made their presence felt at the Munich Auto Show.