India Commentary | Analysis of Indian news/current affairs/politics/business/sports/lifestyle/society

News Snippets

Allahabad HC said that the UP Police is acting as law unto themselves as they detained a person unlawfully even before his arrest
Kolkata witnesses traffic snarls on the first day of the Durga Puja festival as revellers start pnadal-hopping
Neha Bora was subsequently released and Dipke is to appear before a magistrate today at noon
Delhi Police detained Cockroach Janta Party founder Abhijeet Dipke, Neha Bora of AISA, student leaders and supporters ahead of a rally in Connaught Place demanding Chief Election Commissioner Gyanesh Kumar's resignation. The protest followed the detention and jailing of two CJP leaders earlier in the week over demonstrations at Jantar Mantar
The Reserve Bank of India is considering further monetary tightening to counter capital outflows and increase the cost of betting against the rupee, according to bankers and analysts cited by Reuters. The measures follow recent rate increases and steps to drain liquidity as pressure on the currency and inflation concerns persist
India directed oil marketing companies to stop diverting sugar-based feedstocks for ethanol production in the 2026–27 supply year, according to a new tender issued on Friday. The companies have invited bids for 11 billion litres of ethanol made from alternatives including corn and broken rice, amid concerns about domestic sugar supplies and prices
Finance Minister Nirmala Sitharaman said India's trade imbalance with China was growing sharply and attributed the problem partly to restrictions on Indian goods and services entering the Chinese market. China subsequently said it was ready to work with India to address mutual economic and trade concerns; India's trade deficit with China reached $69 billion in the first half of FY2026–27, up 27% year-on-year
Indian equity benchmarks extended their recovery on Friday, with the Sensex rising 413.66 points to close at 74,729.27 and the Nifty 50 gaining 148.80 points to settle at 23,146.15. Information technology shares, including Tech Mahindra, Infosys and TCS, helped lift the indices
India defeated Zimbabwe by four wickets in the opening women's T20 International in Raipur, taking a 1–0 lead in the three-match series. Deepti Sharma and Niki Prasad combined in an 82-run stand after India's top order collapsed, helping the hosts chase down Zimbabwe's total of 114 for five
Indian wrestler Komal won bronze in the women's 59 kg category at the Under-23 World Wrestling Championships in Las Vegas, defeating Kazakhstan's Viktoriia Khusainova 7–2. Fellow Indian Amruta Pujari advanced to the women's 72 kg final after recording two pinfall victories
Indian shuttler Jagsher Singh Khangurra secured a bronze medal at the BWF World Junior Badminton Championships in Cairo
The Supreme Court of India upheld the Bombay High Court's decision quashing the 2020 write-off of ₹8,415 crore in additional tier-1 bonds issued by Yes Bank (Yes Bank). The court ruled that the bank's administrator lacked the authority to extinguish the bonds under the final reconstruction scheme, strengthening bondholders' claims
The Supreme Court issued notices to the Election Commission of India, Delhi Police and opposition leaders, including Rahul Gandhi and Akhilesh Yadav, in separate petitions concerning electoral-roll revision and protests held in Delhi on October 10–12. The court also directed the preservation of CCTV footage linked to allegations of police excesses
The Supreme Court ruled that a person converting from Hinduism to Islam cannot automatically claim backward-class reservation benefits in the new religious community solely on the basis of their previous caste status. The judgment upheld the Madras High Court's decision striking down a 2024 Tamil Nadu government order that permitted such certification for specified communities
The Election Commission of India ordered a Special Summary Revision of electoral rolls in 14 states and three Union Territories, using January 1, 2027, as the qualifying date for voter eligibility. The draft rolls are scheduled for publication on November 12, claims and objections will be accepted until December 11, and the final rolls are due on January 4, 2027

Delhi HC refuses to ban CJP's Tiranga rally at Central Park in Connaught Place today /////// Police says will control and regulate it /////// NDMC closes the park for the public on Friday and Saturday

oppn parties

LIC Shares Tumble On Listing Even As The Sensex Gains

By admin
First publised on 2022-05-17 06:56:12

About the Author

By our team of in-house writers.

View all posts by this Author

Confirming the grey market sentiments, LIC share listed at a discount of over 8% today. It touched a low of Rs 860 in early trades, a discount of 9.37% on the general issue price of Rs 949 while the highest it climbed was Rs 918.65, still a discount of over 3%. But at its highest price in intraday trades, it got a premium of 1.6% for retail investors who had got the shares at a discount of Rs 45 and 3.3% for policy holders who had got a discount of Rs 60 per share. Till 12 noon, 3.60cr shares had changed hands and there were multiple block deals at Rs 872 per share.

But the overall sentiment for the stock was negative. Market operators and experts said that the size of the issue and the lack of interest from FIIs, along with the overall negative sentiment in the market (although the markets were positive today with the Sensex gaining 1000 points at one point) had resulted in such a lacklustre listing. With most shares in the green, LIC was an exception and this was mainly because those who had applied for listing gains were in a hurry to offload their shares.

Most experts have pointed out with insurance penetration low in India, the prospects for LIC are bright and those who can should hold on to the shares. They have set stop loss at Rs 800 per share. Some have also pointed out that LIC is expected to declare good dividend this year as it paid no dividend last year. Overall, despite its horrible listing price, it is a share that one can hold.

Editorials

Growth Without Jobs Is a Warning

Growth Without Jobs Is a Warning

Delhi Curbs: Has The Government Panicked?

Delhi Curbs: Has The Government Panicked?

In Depth

Grounds Of Arrest: The Supreme Court's Rule Must Be Followed By The Police On The Ground

Grounds Of Arrest: The Supreme Court's Rule Must Be Followed By The Police On The Ground

Editor's Pick

For the Goonj to Reverberate, Rahul Gandhi Must Take Regional Parties Along

For the Goonj to Reverberate, Rahul Gandhi Must Take Regional Parties Along