The share of Life Insurance Corporation of India (LIC) in monthly new business premium (NBP) in the life insurance sector declined to 58.50 per cent in September 2023 from 68.25 per cent in September 2022 -- a drop of 975 basis points -- owing to shortcomings in the product and distribution side of business.

However, the market share saw a marginal uptick from the 57.37 per cent recorded in August this year.

With the Election Commission of India announcing dates for the assembly polls in five states, Congress leader Sachin Pilot said that the Congress will form the government again in Rajasthan.

"Today, the election schedule of five states was announced. We welcome this. The public is eager to announce their mandate. Rajasthan will go to polls on November 23. The entire party is ready," Sachin Pilot said.

Share prices of five recently listed companies Aeroflex Industries, Ideaforge Technology, IKIO Lighting, Sai Silks (Kalamandir) and Updater Services hit their respective lowest levels since market debut on the bourses on Monday.

These stocks have slipped between 3 per cent and 10 per cent on the BSE in today's intra-day trade. The stock price of Sai Silks (Kalamandir) (down 10 per cent at Rs 220.05 against issue price of Rs 222 per share) and Updater Services (down 3 per cent at Rs 276.16 against issue price of Rs 300 per share) fell below their issue price.

The Election Commission (EC) on Monday announced the dates of Assembly polls in five states, namely, Madhya Pradesh, Chhattisgarh, Rajasthan, Telangana and Mizoram.

The elections in Madhya Pradesh will take place in one phase on November 17. In Chattisgarh, the polling will take place in two phases on November 7 and 17.

In Rajasthan, the elections will be held on November 23. In Telangana, the polling will happen on November 30. In the northeastern state of Mizoram, the elections will be held on November 7.

Meta, the parent company of Facebook, Instagram, and WhatsApp, led by Mark Zuckerberg, is contemplating the introduction of an ad-free subscription plan in India by 2024, according to a report by Mint published on Monday. This consideration comes on the heels of discussions to initiate a similar plan in the European Union (EU) in order to align with privacy regulations there.

An individual knowledgeable about the development was cited in the report, stating that the company has been in dialogue to explore avenues for monetising Meta on a global scale, including India.

Reliance General Insurance Company (RGIC), a subsidiary of Reliance Capital, finds itself in a bind as the Directorate General of GST Intelligence (DGGI) has issued multiple Show Cause Notices (SCNs) amounting to Rs 922.6 crore.

This development comes at a time when Reliance Capital is currently undergoing a debt resolution under the National Company Law Tribunal (NCLT) process in which the Hinduja group has emerged the winner.

Shares of Tata Consultancy Services (TCS) hit a 52-week high of Rs 3,634.70, up 1 per cent on the BSE in Monday's intraday trade, in an otherwise weak market after the company announced that it will consider a proposal to buyback equity shares at the meeting to be held on October 11, 2023. The company made the announcement on Friday after market hours.

In comparison, the S&P BSE Sensex was down 0.64 per cent at 65,571 at 09:30 AM.

Three bidders are in the race to acquire eight road projects of Reliance Infrastructure (RInfra), an Anil Ambani company, at an enterprise valuation of Rs 6,000 crore.

Bankers said the talks are at an advanced stage with Macquarie Group, Cube Highways and Kotak Alternate Asset Managers and the sale of the entire road portfolio of RInfra is expected by this month end.

As oil traders prepare for the market to open after the sudden eruption of war in Israel, one question is key: will the conflict spread to the rest of the region?

Crude traders don’t expect a massive price surge as there’s no immediate threat to supply. But all eyes are on Iran, a major oil producer and key backer of the Hamas group that launched this weekend’s offensive on Israel.

The government has approved the appointments of 12 general managers as executive directors (EDs) of various public sector banks (PSBs).

According to sources, the Appointments Committee of the Cabinet on Saturday approved the appointments of 12 EDs.

As per the government order, Sanjay Rudra, general manager, Bank of Maharashtra, has been appointed ED, Union Bank of India.

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