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[ad_1] NEW DELHI: Insurance behemoth LIC on Wednesday posted a more than five-fold jump in consolidated net profit to Rs 13,191 crore for the fourth quarter ended March 2023. The insurer had earned a profit of Rs 2,409 crore in the same quarter a year earlier. However, the total income of the insurer during the March quarter declined to Rs 2,01,022 crore from Rs 2,15,487 crore in the same period of the previous fiscal, LIC said in a regulatory filing. LIC's income from first-year premium also came down to Rs 12,852 crore against Rs 14,663 crore in the same quarter previous fiscal. The income from renewal premiums in the reporting period rose to Rs 76,328 crore compared to Rs 71,473 crore a year ago, while the single premium decreased to Rs 43,252 crore from Rs 58,251 crore. For the entire financial year 2022-23, LIC registered a multi-fold rise in net profit to Rs 35,997 crore from Rs 4,125 crore in the previous financial year. The board of LIC has recommended a final divide

[ad_1] FM Nirmala Sitharaman recently inaugurated LIC’s new international business centre at GIFT City, Gujarat. Over the past three months, LIC has delivered a total return of 54 per cent to investors, with a yearly return of the same percentage to its shareholders. Life Insurance Corporation of India (LIC) handed a dividend cheque of Rs 2,441.44 crore to the Finance Minister of India, Nirmala Sitharaman on Friday. The cheque was presented by the Chairperson of LIC, Siddharth Mohanty. LIC announced this transaction through their official Twitter handle, informing investors and users about the dividend payout. The Finance Minister received the dividend cheque in the presence of Financial Services Secretary, Vivek Joshi. As an investor in LIC, the government also received a dividend cheque of Rs 1831 crore last year. Dividends represent a portion of a company’s profits distributed to its shareholders. For example, if a company announces a dividend of Rs 5 per share and an individua

[ad_1] Due to dampened sentiment, too many companies were listed at a discounted price.(File)) A lot happened in the financial markets in calendar year 2022. One of the notable events of 2022 was the long pause of 80 days in the primary markets. Indian share markets suffered in the first half of 2022 because of the pandemic, geopolitical tensions, interest rate hikes, and supply chain disruptions. As a result, due to dampened sentiment, too many companies were listed at a discounted price. Considering the scenario, even the big companies that had their prospectus approved, didn't come out with their respective offer. Oyo, Snapdeal, and many other start-up IPOs deferred their IPO plans. This scenario re-emphasises the belief of the greatest investor of all time - Warren Buffett. Way back in 2004, the Oracle of Omaha explained in his AGM, “ An IPO situation more closely approximates a negotiated deal. I mean, the seller decides when to come to market in most cases. And they don