In December 2024, SBI Life Insurance overtook LIC in regular premium policies with Rs 3,416 crore, a 16.7% increase from last year, while LIC's premiums fell 15% to Rs 2,628 crore. Despite a significant decline in group single premium policies, LIC remained the largest player by total new business premiums.
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Standard Glass Lining Technology Ltd has set a price band of Rs 133-140 per share for its Rs 410.05 crore IPO, opening on January 6, 2025. The IPO includes a fresh issue worth Rs 210 crore and an OFS of 1.43 crore shares. Proceeds will primarily be used for debt repayment, subsidiary investment, and strategic acquisitions.
A Sebi committee has declined a settlement offer from Zee Entertainment, former chairman Subhash Chandra, and former MD Punit Goenka regarding listing norm violations. Instead, Sebi's adjudicating officer must incorporate new findings from the investigation and issue a fresh show cause notice.
The Reserve Bank of India has lifted the restrictions on Asirvad Micro Finance and DMI Finance, effective immediately, following their corrective measures and compliance with regulatory guidelines. The restrictions had been placed on 21 October last year, preventing them from sanctioning and disbursing loans.
Denta Water and Infra Solutions' IPO received an overwhelming response on its second day, securing 50.63 times subscription. With a price band of Rs 279-294 per share, the issue aims to raise Rs 220.5 crore, primarily for working capital. The company, a key player in water EPC services, will list its shares on BSE and NSE.
India's solar PV module manufacturing is set to reach 125 GW by 2030, up from 80 GW today. Solar cell capacity will rise to 40 GW. Pralhad Joshi highlighted local manufacturing and government's incentives. India aims to double its renewable energy capacity by 2030 and become a global leader in sustainable energy. Connectivity will reach more villages.
Spending on Artificial Intelligence technologies will grow at 2.2x the rate of overall digital technology spending in the next three years, generating an India economic impact of over USD 115 billion by the end of 2027, according to a latest report by International Data Corporation (IDC).
The sensex saw a strong rally driven by local buying, closing 610 points higher, above the 74K mark. Over the last two sessions, it gained 1,350 points or 1.9%. Despite foreign funds selling, domestic net buying helped boost market capitalization by Rs 4.5 lakh crore.
Microsoft CEO Satya Nadella meets PM Narendra Modi expressing appreciation for India's AI-first approach and discussing ethical AI use and data privacy. Nadella is on a tour in India to promote Microsoft's AI and cloud investments. Modi highlights partnerships with global AI leaders fostering innovation and regulation in India.
Punjab and Sind Bank plans to raise Rs 2,000 crore through Qualified Institutional Placement this quarter, reducing government holding by 3-4%. The government currently holds a 98.25% stake. This fundraising will boost the capital adequacy ratio by March 2025. The bank's net profit surged to Rs 282 crore in Q3, 2024, as bad loans declined.
Home-cooked meal costs rose in December, with vegetarian thalis up 6% to Rs 31.6 per plate and non-vegetarian thalis increasing 12% to Rs 63.3 per plate, driven by higher prices of tomatoes, potatoes, and broiler chicken. The cost rise was partially offset by an 11% drop in LPG prices.