L i c share price

Foreign brokerage CLSA said while investors are excited over prospects of rate cuts translating into lower cost of funds for NBFCs, the reality is not so sweet. In its latest note on NBFCs, CLSA said less than 50 per cent of borrowings for most large NBFCs are at floating rates, the transmission of which happens with a lag of 1-12 months. Besides, 20 per cent of NBFCs’ NCDs are maturing in FY24 in FY25 each – these NCDs bear coupon rates much below current levels, implying a refinancing hit. Also, the incremental cost of NCDs is unlikely to come off with repo rate cuts, as bond yields are already factoring in repo rate cuts, CLSA said. The winner in a rate-cut environment would be SBI Card while the most negatively impacted NBFC in a rate-cut cycle would be LIC Housing, it said. To recall, RBI hiked the repo rate by 250 basis points (bps) in the current rate hike cycle to 6.5 per cent. The 10-year GSec yield increased about 150 bps from the lows last year but moderated 30-40 bps in the past 3-4 months. T-Bill rates are up 250-30 bps from the lows while banks have increased MCLR by 150-170 bps since then. CLSA noted that smaller NBFCs typically rely on bank borrowings for funding, as they are unable to access debt capital markets, due to lack of a strong credit rating. But as companies grow and achieve strong credit ratings, they typically diversify into capital market borrowings as those are usually cheaper than bank borrowings. CLSA noted that the share of floating ra...

A multifold rise in December quarter (Q3 FY23) profit for Life Insurance Corporation of India (LIC) was in line with Street expectations. Analysts said the LIC stock trades at valuations that are undemanding. But they see a lack of catalysts to lift the stock higher. For now, a couple of brokerages kept their 'hold' ratings intact on the stock, with price targets that suggest a limited upside potential ahead. The state-owned life insurer last week reported a multi-fold surge in net profit at Rs 6,334 crore for the December quarter against Rs 235 crore in the year-ago period, thanks to a change in its accounting policy. LIC said its net premium income jumped 15 per cent to Rs 1.10 lakh crore from Rs 97,620 crore YoY. The company's gross value of the new business (VNB), which measures expected profit from new premiums and is a key gauge for future growth, stood at Rs 7,187 crore, while VNB margins came in at 19.1 per cent. Currently, LIC is trading on an undemanding valuation of FY24E P/EV of 0.63x. However, given the lack of positive catalysts, we continue to maintain our neutral view on the stock. We reiterate our Hold rating on the stock with our revised Dec-23E TP of Rs700 (0.75x Dec-23E P/EV). Emkay Global Financial Services, in its report, said, "LIC's 9MFY23 results came broadly in line with our estimates with APE (Annualized premium equivalent) of Rs 37,550 crore (our estimate: Rs 38,900 crore), VNB of Rs 5,480 crore (estimate: Rs 5,640 crore), and VNB margin of 14.6...

Mutual funds witnessed net inflows of over Rs 2,900 crore in May 2023 as equity markets hovered near all-time high levels. The inflows via Systematic Investment Plan (SIP) route hit a record of Rs 14,749 crore last month as against Rs 13,728 crore in April this year, data released by the Association of Mutual Funds in India (AMFI) has showed.

GlobeNewswire Lithium Americas Announces First Lithium as Part of Commissioning at Caucharí-Olaroz VANCOUVER, British Columbia, June 12, 2023 (GLOBE NEWSWIRE) -- Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) (“Lithium Americas” or the “Company”) is pleased to report that the Caucharí-Olaroz project (“Caucharí-Olaroz” or the “Project”) in Jujuy, Argentina has produced its first lower than battery-quality lithium carbonate as part of commissioning. Additional purification processing equipment necessary to achieve battery-quality lithium carbonate is expected to be completed in the second half o

Life Insurance Corporation of India (LIC) on Wednesday informed stock exchanges that it has increased its stake in Tech Mahindra to 8.88 per cent. This is 81 basis points higher than 8.07 per cent stake that it held in the IT major as on March 31, as per the quarterly shareholding data. LIC said its stake in Tech Mahindra has increased by 2.015 percentage points via open market purchases between November 11, 2022, and June 6, 2023. Tech Mahindra holding, it said, increased from 6.869 per cent to 8.884 per cent, an increase of 2.015 per cent since November. LIC bought Tech Mahindra shares at an average cost of Rs 1,050.77 apiece. Tech Mahindra shares settled at Rs 1,095.65 on Wednesday, 4.27 per cent higher than LIC's average price. Earlier on May 25, LIC said the life insurer increased its holding in two stocks namely Tata Power and Bata India. In Tata Power, LIC upped its holding to 25,35,37,551 shares or 7.935 per cent of the paid-up capital from 24,01,67,154 shares or 7.52 per cent stake at the end of March quarter. In April 2019, LIC held 18,90,70,215 shares or 5.917 per cent stake in Tata Power, the insurer told exchanges. Besides, LIC said its shareholding in Bata India increased to 83,95,740 shares or 6.532 per cent stake from 64,36,692 shares or 5.01 per cent stake as on March 31. LIC held 57,80,329 shares or 4.497 per cent stake in Bata India as on March 15, 2023. LIC said it upped stake in Tata Power Ltd by 2.08 percentage points between April 2019 and May 2023. ...

The shares were bought at an average cost of ₹66.18 apiece in SAIL. LIC revealed that the stake increase of 2.001% was done during the period from October 14, 2021, to June 8, 2023. The transaction was an open-market purchase. From October 14, 2021 to June 8th this year, LIC has bought over 8.26 crore equity shares in SAIL. Read here: ₹1,000 cr via QIP, LIC gets biggest allocation But by the end of the March 31, 2023 quarter, LIC's shareholding stood at 28.64 crore equity shares in SAIL, as per the latest shareholding pattern. Hence, from April 1st to June 8th, LIC purchased over 7.24 crore equity shares in SAIL. SAIL is one of the largest steel-making companies in India and one of the Maharatnas of the country's Central Public Sector Enterprises. SAIL manufactures and sells a broad range of steel products. Taking into consideration the current market price of SAIL, LIC's shareholding in this steelmaker is valued to around ₹2,974.52 crore. On ₹82.90 apiece down by 1.38%. While LIC's share price closed at ₹601.75 apiece marginally down on Friday compared to the previous session. ICICI Securities in its research note for metal sector dated June 9th, has recommended an 'ADD' on SAIL stock with a target price of ₹92 apiece. Read here: Last month, Centrum in its research note dated May 30th, said on SAIL that the Q1FY24 EBITDA/t was likely to moderate sequentially on account of the decline in steel price and increase in coal cost due to the lag effect. Analysts at Centrum in th...

Latest TSP Daily Share Prices Wednesday, June 14, 2023 G Fund $17.5351 F Fund $18.5729 C Fund $67.6052 S Fund $68.3651 I Fund $38.2786 L Income $23.9152 L 2025 $12.1371 L 2030 $42.5500 L 2035 $12.7058 L 2040 $47.8372 L 2045 $13.0336 L 2050 $28.4346 L 2055 $13.9244 L 2060 $13.9229 L 2065 $13.9211 Latest TSP Monthly Returns May 2023 G Fund 0.31% F Fund -1.10% C Fund 0.43% S Fund 0.44% I Fund -4.01% L Income -0.12% L 2025 -0.30% L 2030 -0.63% L 2035 -0.72% L 2040 -0.81% L 2045 -0.89% L 2050 -0.96% L 2055 -1.12% L 2060 -1.12% L 2065 -1.12% Latest TSP News from FedSmith • June 15, 2023 11:45 AM The stock market has rebounded in 2023 from its 2022 lows. Should federal employees be buying the TSP stock funds again?• June 14, 2023 1:33 PM Knowing your net retirement income is crucial to a successful retirement plan.• June 9, 2023 1:28 PM Is it better to withdraw retirement money from the traditional or the Roth TSP? These are some considerations.• June 6, 2023 5:05 PM These are four mistakes federal employees sometimes make that can negatively impact their retirement.• June 5, 2023 11:22 AM BlackRock manages a large part of assets in the TSP. It also is a company known for its role in pursuing an ESG political agenda.• June 3, 2023 8:43 PM A lawsuit labeled as a "class action complaint" seeks damages for TSP participants claiming harm as a result of problems with the TSP website unveiled in June 2022. What is the Thrift Savings Plan (TSP)? The Because it is a defined contribution ...