Top Headlines: LIC IPO, Government NHAI Success, Covid Mortality, and More




Over Rs 30,000 funds locked in LIC IPO could hit other deals

Life Insurance Corporation’s (LIC) initial public offering (IPO) – India’s largest ever for domestic markets – will close on Monday. So far, the issue has attracted bids worth over Rs 30,000 crore and expectations are that the figure could top Rs 1 trillion. The popularity of the IPO, particularly with retail investors, could weigh on subscription figures for three other issues that also close this week. As many funds will be locked in during LIC’s IPO, the capital available to invest in other issues could be limited, industry players said. Read more…





Government seeks to replicate NHAI success with InvITs in railways and ports

Following the success of Infrastructure Investment Trusts (InvIT) carried out by the National Highways Authority of India (NHAI) and PowerGrid, the Center is laying the foundation for similar InvITs for railways, shipping, gas pipelines and d other sectors, under the Rs $6 trillion National Monetization Pipeline (NMP). The Ministry of Finance has nudged various infrastructure departments and there have been extensive reviews of InvIT in the Ministries of Railways and Shipping, and GAIL (India) among others has learned Business Standard. Read more…


Sebi scanner on more top trades by domestic fund managers

Market regulator Securities and Exchange Board of India (Sebi) is looking into allegations of leading and other wrongdoing against a host of domestic fund managers in the asset management industry, people briefed have said. Developments at Axis Mutual Fund have prompted the regulator to expedite the investigation to ensure there is no decline in confidence in the Rs 39 trillion mutual fund (MF) industry. “We have received complaints against a few fund managers and are looking into possible breaches, including those related to the code of conduct,” a regulatory source said, declining to release the names of the fund companies as things are at a stage. preliminary. Read more…


Telecom Operators and Manufacturers Fight Over Import of PON Equipment

A bitter battle is brewing between telecom operators and equipment manufacturers over the contentious issue of importing passive optical network (PON) equipment, which is installed in the premises as well as in the central office and is crucial to enable high-speed fixed broadband in homes. The Telecommunications Equipment and Services Export Council (TEPC) – set up to promote telecommunications exports – has sided with equipment manufacturers to deny claims by telecom operators that the former are not unable to provide them with the 80 lakh PON equipment they need next year. . Read more…


Coronavirus: deciphering India’s “excess mortality” according to WHO estimates

“Excess mortality” figures released by the World Health Organization (WHO), which put India at the top of the global hierarchy, reveal that neighboring countries had a lower death rate. Experts are arguing among themselves over the methodology adopted by the global agency. Countries like Pakistan, Bangladesh, Nepal, which have similar demographics and economic background to India, are estimated to have lower mortality rates than ours, or countries with cohorts of older people reporting lower mortality. An analysis by Business Standard found that most countries with an older population cohort and higher development index had a lower excess mortality rate than India. Read more…


The small plane made in India Dornier hopes to become the wings of UDAN

A small plane has big ambitions to blow away the government’s UDAN dream. The Indian-made, twin-engine 17-seat Dornier 228, which for years has been a trusted vehicle for soldiers bringing them home from remote locations where airstrips are small or semi-prepared, has been making jaunts commercial flights to Arunachal Pradesh and Assam for Alliance Air since April. This is a first for an aircraft manufactured in India to perform commercial flights. Until now, the Dornier 228 (Do-228) was manufactured under license from the Swiss aerospace and defense engineering company RUAG, with Hindustan Aeronautics Ltd (HAL) supplying the fuselage, wings and empennage from its factory from Kanpur, Uttar Pradesh. The aircraft would then be assembled at RUAG’s premises in Oberpfaffenhofen, Germany. Read more…

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