Except for Max Financial Services other insurance related shares seem to be on a weak ground, indicate technical charts.
The LIC IPO may finally hit the primary market on May 4. Experts believe it will get a good response from both retail and institutional investors. Find out if you should take a slice of this pie.
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Here are the top headlines on Wednesday morning
The initial public offering (IPO) of the state-owned insurer is a billion dollars short of its projection last week, and a third of the more than $8 billion it initially planned to raise in February
They said shares were changing hands at Rs 1,000 apiece as against an expected IPO price of Rs 950
While analysts remain mixed on how the government's largest-ever IPO would perform on Dalal Street, they expect the issue to sail through as the markets have staged strong recovery from March lows.
LIC IPO price band likely to be set at Rs 902-949 a share
LIC management and the investment bankers will embark on road shows in six cities across India - including Mumbai, New Delhi, Bengaluru, Ahmedabad, Rajkot, Kolkata
Business Standard brings you top headlines of the day
The government will sell its 3.5 per cent equity in LIC for Rs 21,000 crore, valuing India's largest insurer at Rs 6 trillion
For a quick entry into the Sensex, a company needs to rank among the top 10 in terms of free-float market cap.
But would consider investment after assessing post-listing performance
Life Insurance Corporation of India's board on Saturday approved selling a 3.5% stake for about Rs 210 billion ($2.8 billion), far lower than the Rs 500 billion estimated before Russia invaded Ukraine
Read out the top news headlines and other important topics for the day and related information in the section below.
The government believes LIC's valuation would surge, following the insurer's lisiting
The government will sell 3.5% equity for Rs 21,000 crore valuing India's largest insurer at Rs 6 trillion.
The Indian government has pegged LIC's valuation at around Rs 6 trillion, according to the sources
Business Standard brings you the top headlines at this hour
The insurance giant's valuation may be reduced to just Rs 6 trillion, which will be 1.1 times its embedded value of Rs 5.4 trillion