You are here: Home » Current Affairs » News » National
Business Standard

Top Headlines: LIC oversubscribed by anchor investors; HDFC profit up 16%

LIC got off to a good start with the $732 million of shares reserved for anchor investors oversubscribed. While HDFC Ltd reported a 16% net profit in 4th quarter. Read more on these our top headlines

Topics
LIC IPO | HDFC

BS Web Team  |  New Delhi 

Most large global investors may give LIC's initial public offering a miss

Life Insurance Corporation (LIC) has got off to a good start with the $732 million of shares reserved for so-called anchor investors oversubscribed. Ltd reported a 16 per cent increase in net profit in January-March quarter, aided by a rise in net interest income and lower provisions. Read more on these our top headlines.

off to a good start as anchor investors oversubscribe: Report

The IPO of India's biggest insurer, Life Insurance Corporation (LIC), has got off to a good start, with the $732 million of shares reserved for so-called anchor investors oversubscribed at the upper end of the price range, a banking source said. Read more

Heat threatens India's wheat, adding to world food shortage worries

A blistering heat wave has scorched wheat fields in India, reducing yields in the second-biggest grower and damping expectations for exports that the world is relying on to alleviate a global shortage.

Temperatures soared in March to the highest ever for the month on record going back to 1901, shriveling India’s wheat crop during a crucial growth period. Read more

Ltd Q4 profit up 16% to Rs 3,700 cr; firm approves Rs 30 dividend

Mortgage lender Housing Development Finance Corporation (HDFC) reported a 16 per cent increase in net profit in January-March quarter, aided by a rise in net interest income and lower provisions. Net profit of the lender totaled to Rs 3,700 crore in Q4FY22 versus Rs 3,180 crore in the year-ago period, beating street estimates. Analysts at Bloomberg had estimated a net profit of Rs 3,518 crore. Read more

As India's Covid-19 cases inch up, recreation and shopping visits show dip

There was a drop in mobility last week amid a rise in Covid-19 cases across the country, multiple indicators show. There were 3,157 cases across the country in the previous 24 hours, according to a government statement on Monday. There were fewer than 1,000 cases in the second week of April. Read more

PMI manufacturing rises to 54.7 in April on robust demand, factory orders

Factory activity in India picked up last month, bolstered by a solid increase in demand as pandemic restrictions were eased, but rising energy prices pushed input costs to a five-month high, a private survey showed.

The Manufacturing Purchasing Managers' Index compiled by S&P Global, improved to 54.7 in April from 54.0 in March. Read more

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, May 02 2022. 18:10 IST
RECOMMENDED FOR YOU