IndiaFirst Life Insurance IPO gets SEBI nod; Bank of Baroda, Union Bank, Carmel Point to shed stake in OFS
Life insurance major IndiaFirst Life Insurance Company received final approval from Securities and Exchange Board of India (Sebi) to float an initial public offering to raise funds. The issue will comprise a fresh issue of equity shares worth Rs 500 crore and an offer-for-sale (OFS) up to 14.1 crore equity shares from promoters and stakeholders. The insurance company is owned by two of India’s largest PSU banks, Bank of Baroda and Union Bank of India. Additionally, Carmel Point Investments India, owned by private equity funds managed by Warburg Pincus, bought a stake in the life insurance firm.
Indian households beat best of fund managers as gold price soars; safe haven demand jumps amid market volatility
Indian households emerge as the niftiest of investors as the price of gold skyrockets, crossing the Rs 60,000/10 grams mark on the MCX. As global uncertainties, the banking crisis and heightened market volatility drive up the safe haven demand for the metal, Indian households, one of the world’s largest holders of the yellow metal, have seen the value of their investments gain by almost 8% over the past month.
Weakness in global market weighs on investor sentiment, limit leveraged positions; Nifty resistance at 17250
With the deterioration of global cues, markets have resumed the corrective tone in the last two weeks. The benchmark indices are down over 10% from the record high and there’s no sign of a reversal yet. On the benchmark front, Nifty has plunged sharply from 17,800 to a recent low of 16,828 in this prevailing leg of down move and currently trading at 16,988.40 levels. Out of the Nifty 50 basket, over 30 stocks are trading over the long term moving average (200 EMA) which clearly shows that the decline is widespread.?Majorly, weakness in the global markets especially the US is weighing on the sentiment.?
Historic Sunday: OneWeb to launch 36 satellites with ISRO on March 26
OneWeb, a company that provides satellite communications through low Earth orbit (LEO) satellites, has rescheduled its launch of 36 satellites with Indian Space Research Organisation (ISRO) for March 26, 2023 at the Satish Dhawan Space Centre in Sriharikota, India. This launch will be OneWeb’s eighteenth launch so far and its third for this year. It will also complete the first generation of its LEO constellation, allowing the company to start global coverage in 2023.
Gudi Padwa 2023: Ideal time to buy a home in Mumbai? Check real estate offers and what developers say
Gudi Padwa 2023 Real Estate offers in Mumbai: Ahead of the auspicious occasion of Gudi Padwa, real estate developers in Mumbai (Maharashtra) have come up with several offers. Festive days like Gudi Padwa are often considered a good time to invest in assets, including residential properties, for long-term fortune. This year also home-buying is on the cards for many prospective home seekers.
South’s ‘satellite’ push: This Ring Road will decongest Namma Bengaluru, amplify development in peri-urban areas
Bengaluru Satellite Town Ring Road:?The mother of all road projects is underway in Bengaluru! And no, it is not just going to improve the state’s road network, but also give a major boost to the overall infrastructure along with providing relief to the commuters who are stuck in massive traffic jams in the city. If you are a resident of Bengaluru, then you must have guessed it by now. The project is none other than the Bengaluru Satellite Town Ring Road (STRR) which is being constructed by the National Highway Authority of India (NHAI). So what does this project entail and why is it back in news? Let’s find out.
2023 Hyundai Verna launched in India starting at Rs 10.90 lakh
The next-generation Hyundai Verna has been launched in India at an introductory price of Rs 10,89,900 going up to Rs. 17,37,900 ex-showroom. Hyundai is offering 6 airbags, ABS and EBD as standard as well as 3 year, unlimited km warranty. The manufacturer claims to have received over 8,000 bookings for the Verna in a month.
Why are banks not filling ATMs with Rs 2000 notes? FM Nirmala Sitharaman replies
Whether the Reserve Bank of India (RBI) has put restrictions on banks to disburse currency notes of Rs. 2000 denomination through ATMs? Responding to this query in the Lok Sabha, Finance Minister Nirmala Sitharaman on Monday (March 20) said that no such instructions have been given to banks for not filling Rs 2000 notes in bank ATMs.
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