All Newsletters
- April 2016
- March 2016
- February 2016
- January 2016
- December 2015
- November 2015
- October 2015
- September 2015
- August 2015
- July 2015
- June 2015
- May 2015
- April 2015
- March 2015
- February 2015
- January 2015
- December 2014
- November 2014
- October 2014
- September 2014
- August 2014
- July 2014
- June 2014
- May 2014
- April 2014
- March 2014
- February 2014
- January 2014
- December 2013
- November 2013
- October 2013
- September 2013
- August 2013
- July 2013
- June 2013
- May 2013
- April 2013
- March 2013
- February 2013
- January 2013
- December 2012
- November 2012
- October 2012
- September 2012
- August 2012
- July 2012
- June 2012
- May 2012
- April 2012
- March 2012
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- August 2011
eServe Newsletter July 2015
LIC share holdings
State-owned insurance giant LIC has increased its exposure in 12 Sensex firms, including Coal India and Bajaj Auto, in the January-March quarter, with purchase of shares estimated to be Rs 16,400 crore at current valuation. The holding of Life Insurance Corporation (LIC) declined in 12 other blue-chip companies in January-March from the level seen in preceding three months, showed an analysis of the shareholding pattern of the Sensex constituents. As for the rest, LIC did not hold any stake in Axis Bank and Hindustan Unilever in the past few quarters while the insurer's stake remained unchanged in four companies Tata Steel, BHEL, Vedanta and Tata Motors.
The insurance major has picked maximum stake in Coal India during the quarter under review 4.65 per cent stake worth Rs. 10,754 crore in Coal India. It bought over 28.47 crore shares, or 4.51 per cent, in the offer for sale of Coal India almost half of the shares on offer in the stake sale of Rs 22,558 crore. Besides, LIC holds 16.73 per cent in Larsen & Toubro (L&T), the highest it has among the Sensex firms.
At current share prices, LIC snapped up shares worth about Rs. 16,400 crore in a total of 12 Sensex constituents. At the same time, it sold shares worth Rs 6,730 crore in 12 blue-chip companies, resulting in a net inflow of Rs. 9,670 crore in all the Sensex firms together. Individually, LIC raised its stake in GAIL, Infosys, Bajaj Auto, Reliance Industries, Hero MotoCorp, ONGC, NTPC, Hindalco Industries and Mahindra & Mahindra, among others, during the quarter.
Faster claims settlement for cyclone victims
The country's largest life insurer, Life Insurance Corporation of India, has appointed nodal officers in cyclone-devastated Andhra Pradesh and Odisha for stepping up its services in the region, including expediting settlement claims.
LIC has eased the procedure for settlement of claims on the lives of the victims of cyclone Hudhud in Andhra Pradesh and Odisha, the company said in a statement. These concessions and relaxations are in the nature of simplified procedure for death and disability claim settlement, loss of policy document and claim settlement on the lives of missing persons, it said. LIC has appointed Nodal Officers in the affected states for coordinating and expediting settlement claims, it said. More than 30 people lost their lives while several others were rendered homeless after cyclone Hudhud made landfall last Tuesday.
Prime Minister Narendra Modi had announced Rs 1,000 crore towards taking up immediate relief works.