Feroze Gandhi speech that exposed LIC scam—it forced Nehru to order inquiry, FM to resign
On 16 December 1957, Lok Sabha MP Feroze Gandhi spoke how the Life Insurance Corporation invested nearly Rs 1.25 crore to help Calcutta-based stock speculator Haridas Mundhra who was in financial difficulties. Key Points
ThePrintHindustan Petroleum share price gains more than 5%, scales 52 week high. IOCL, BPCL gain up to 4% as crude tumbles
2Stock Market Today- Hindustan Petroleum share price gained more than 4% while Indian Oil Corporation and Bharat Petroleum Corporation gained more than 1.5% as falling crude prices lifted their marketing margin outlook. The Refining margins are also rebounding improving earnings prospects. Key Points
mint10 of the biggest investments made by Warren Buffett and their current status
Most people agree that Warren Buffett is one of the greatest investors in history. Buffett has gained a devoted following among investors and is known as the Oracle of Omaha as a result of his long history of making profitable predictions. Key Points
Times of IndiaHow will the proposed ASBA-like facility change stock trading?
Under the proposed settlement mechanism for stock trades, investors' funds will effectively leave their bank accounts only after trades are completed. This will eliminate the need to transfer funds to the stockbroker. Also, investors will do direct settlement with the clearing Corporation of the stock exchanges. Key Points
Economic TimesIndian Oil and BPCL pick rights issue, HPCL chooses preference share route to raise capital
Indian Oil Corporation (IOCL) and Bharat Petroleum Corporation (BPCL) plan to launch rights issues while Hindustan Petroleum Corporation (HPCL) will issue preferential shares to the government in the current financial year. The government had set aside INR300bn ($4bn) for capital support for the government-owned firms. This support was conditional on the state-run oil marketers submitting capital investment plans for 2023-24. Key Points
Economic Times
Piyush Goyal to chair meet to decide fate of 3 PSUs
Commerce and industry minister, Piyush Goyal, will chair a meeting next week to discuss the closure of three state-owned companies: Metals and Minerals Trading Corporation of India (MMTC), State Trading Corporation (STC), and Project & Equipment Corporation of India. These companies were denotified as nominated agencies for imports and exports of goods. A decision on the closure, particularly strategic disinvestment of MMTC, is expected to be made. The government had previously decided to shut down several public sector units in 2019 after reviewing investments to ensure they were not burdened with unrelated ventures or loss-making firms. Key Points
Economic TimesSecond phase of civic polls: BSP hoping to retain two mayoral seats it won in 2017
BSP mobilises cadre for second phase of local bodies poll in 38 districts on May 11. BSP relying on Dalit-Muslim-Backward formula to secure victory. Key Points
Hindustan TimesBullet train project gets new head
In his earlier role, Vivek Kumar Gupta was responsible for the integrated functioning of Civil (Works, Project Monitoring & Station Development), Electrical (RE), Signal & Telecommunication, Traffic, Finance, Planning, and Economic Directorates. National High-Speed Rail Corporation Limited (NHSRCL) is a Special Purpose Vehicle with equity participation by Central Government through Ministry of Railways and two State Governments of Gujarat and Maharashtra. It is implementing India's first bullet train project. Key Points
Economic TimesFSIB selects new chiefs for GIC Re, NIC
Ramaswamy who joined GIC Re in 1988 will retire in September 2025. He was earlier posted in London to head the company's UK branch. Key Points
The Indian ExpressCivic polls: Gorakhpur mayor’s post general category, BJP eyes majority in corporation
ll opposition parties are keeping a close watch on BJP’s plan on the seat. Local BJP leaders said that the BJP strategy this time would be to ensure a majority in the municipal corporation. Key Points
Hindustan Times
MCD election: AAP and BJP to lock horns in high octane poll battle
AAP's Shelly Oberoi was elected Delhi mayor on February 22 in the fourth attempt since the earlier elections were stalled amid a ruckus over voting rights being given to nominated members. She had defeated BJP's Rekha Gupta by a margin of 34 votes by polling 150 votes. Gupta got 116 of the total 266 votes polled. Key Points
Economic TimesMinda Corp approaches CCI to increase stake in Pricol; expert says move addresses synergies between two companies
Minda Corporation on Tuesday said that its board is approaching the CCI to increase its stake in automotive technology firm Pricol to upto 24.5 per cent. The synergy between the two companies make sense for both Minda Corporation and Pricol. Key Points
FinancialexpressED files prosecution complaint against jailed Punjab AAP MLA in ₹40.92-crore bank fraud
The Enforcement Directorate had arrested Jaswant Singh Gajjanmajra on June 11 last year under the special Prevention of Money Laundering Act. He is still in judicial custody of the special PMLA court in Mohali. Key Points
Hindustan TimesWhirlpool Corporation sells 24% stake in Indian unit for $468 million via open market
Following the sale, the parent firms holding has come down to 51% from 75%. The American consumer durables maker expects to use the proceeds from the stake sale to reduce debt. Key Points
Economic TimesStocks in news: Whirlpool of India, Hindalco, ZEE, Devyani International, Wipro
Whirlpool Corporation on Tuesday sold 30.4 million shares, constituting 24% stake in its Indian unit Whirlpool of India through the open market for $468 million. Key Points
Economic TimesPowergrid emerges as successful bidder for inter-state transmission project in Gujarat
New Delhi, Dec 5 (PTI) Power Grid Corporation of India Ltd (Powergrid) has emerged as a successful bidder for setting up an inter-state transmission system project in Gujarat. The company has received a Letter of Intent (LoI) in this regard on Monday, Powergrid said in an exchange filing. “Power Grid Corporation of India has been […] Key Points
ThePrintIndia's LIC Q2 profit halves as cash transfer to shareholders' fund drops
Life Insurance Corporation of India (LIFI.NS) reported second-quarter profit that halved on Friday, hurt by a fall in premium income and as it transferred a lower amount of money to its shareholders' fund. Key Points
ReutersMumbai's famed Film City to soon get railway station set for film shoots
Film shootings at railway stations can disrupt traffic and cause inconvenience to passengers. Moreover, 16 existing indoor studios are being upgraded in a phased manner, Avinash Dhakne, managing director of Maharashtra Film, Stage, Cultural Development Corporation said. Key Points
Economic TimesDelhi mayoral poll on April 26: Saurabh Bharadwaj
The Aam Aadmi Party (AAP) had emerged victorious in the polls. The February 22 election to the post was the fourth attempt to elect a mayor as the election process on the three previous occasions could not be completed due to ruckus created over voting rights being given to nominated members. Key Points
Economic TimesNEDFi declares 8% dividend amounting to Rs 800 lakhs to its shareholders in 2022-23
North Eastern Development Finance Corporation Limited (NEDFi) has declared an 8% dividend of Rs 800 lakh for the financial year 2022-23. NEDFi achieved record-breaking figures in various parameters, including financial assistance and loan portfolio. The net worth of NEDFi crossed Rs 1000 crore, and it facilitated private capital investment of over Rs 20000 crore in the region. Key Points
Economic Times
Despite volatility, 19 BSE Smallcap stocks surge 20% to 75% in just one month; Waaree leads gains – check full list
Waaree Renewable Technologies leads with a 75% gain due to strong order wins. Tata Investment Corporation follows with a 45% monthly gain, despite dampened investor enthusiasm. Key Points
mintLIC share price declined up to 1.49% on Q2 results. Should you buy, sell or hold the stock? Check brokerage views
Q2 Result review - Life Insurance Corporation of India declared Q2 results on 10 November, post market hours. The topline decreased by 9.2% & the profit decreased by 49.35% YoY. As compared to the previous quarter, the revenue grew by 6.85% and the profit decreased by 16.65%. Key Points
mintKarnataka election: Bengaluru bus services to be hit on May 9 & 10, some restaurants to stay shut
Karnataka Assembly elections will affect bus services on May 9 and 10 as vehicles will be diverted for election duty, according to two state transport corporations. Some restaurants too are planning to stay shut on dry days as they won't be able to serve alcohol. Key Points
India TodayWhat is BBMP Restructuring Committee and how will it help the fast-growing Bengaluru?
The State government on June 12, reconvened the Bruhat Bengaluru Mahanagara Palike (BBMP) Restructuring Committee, which the previous Congress regime (between 2013 and 2018) had formed. The newly-elected Congress government is keen on splitting the BBMP into multiple corporations for ease of administration. Key Points
The HinduSwearing ceremony of new mayor, corporators in Lucknow today
The oath, which is to be read by the mayor and corporators, has been prepared. It will be given to the mayor and corporators at the venue before swearing-in ceremony. Key Points
Hindustan Times
BSP plays Muslim card in local body election
BSP fields Muslim candidates in 5 out of 7 mayor seats in 2nd phase of Uttar Pradesh civic polls. BSP has given tickets to 11 Muslim candidates in total. Key Points
Hindustan TimesHPCL: Govt set to get significant stake post preferential issue
The Indian government is expected to hold a significant stake in Hindustan Petroleum Corporation (HPCL) after it exited the company in 2018. While BPCL and Indian Oil have already approved rights issues, HPCL is supposed to come up with a preferential share allotment to the government. Key Points
Economic TimesLIC shares slip after 17% salary hike
India Business News: Read about the recent dip in LIC shares following a 17% salary hike announcement by the corporation. Stay updated on the latest financial news. Key Points
Times Of IndiaTechnical Breakout Stocks: How to trade ABB India, Tata Investment Corporation and Olectra Greentech on Fr
The S&P BSE Sensex rose over 500 points while the Nifty50 closed above the 22,200 level. Sectorally, buying was seen in auto, IT, capital goods and power stocks while some profit booking was seen in the banking space. Key Points
Economic TimesCommercial LPG rate cut by Rs 39.50 per 19-kg cylinder
New Delhi, Dec 22 (PTI) Commercial cooking gas (LPG) prices were on Friday cut by Rs 39.50 per 19-kg cylinder in line with softening international benchmarks. However, the price of domestic LPG — used in household kitchens for cooking purposes — remained unchanged at Rs 903 per 14.2-kg cylinder. Commercial LPG — used in various […] Key Points
ThePrint
Stocks in news: RIL, Fusion Micro, Axis Bank, NBCC, SBI
Private equity firm Bain Capital has offloaded 1.1% stake in Axis Bank through the open market on Wednesday, thereby taking home over Rs 3,700 crore. Key Points
Economic TimesAlien TV Series: Here’s what we know about release date, cast, plot, filming, where to watch and more
FX's Alien series, greenlit after delays, explores Earth's future, unraveling Wayland Corporation origins and Xenomorph discoveries. The cast, including Sydney Chandler and Alex Lawther, remains shrouded in secrecy. Key Points
Economic TimesIndia's LIC Q1 profit jumps on transfer of money to shareholder fund
Life Insurance Corporation of India (LIFI.NS) posted a fourteen-fold surge in first-quarter profit on Thursday, as the insurer moved 74.92 billion rupees to its shareholders' fund. Key Points
Reuters