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As anchor investors’ lock-in period expires today, the LIC share price falls to a new low.

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12 months ago

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As anchor investors’ lock-in period expires today, the LIC share price falls to a new low.

Shares of Life Insurance Corporation of India hit record low of ₹682 on the BSE in opening deals. 30-day lock-in period for anchor investors end today. Anchor investors, who bought over 59 million shares, can sell their shares in the open market from Monday.

Anchor investors are high-profile institutional investors that are allotted shares before the subscription opens for retail and other investors. In most cases, selling pressure persists over the day as anchor investors no longer are bounded to remain invested in these companies after the mandatory lock-in period.

LIC share price has fallen sharply since its listing on the stock exchange. The stock is about 25% down from its IPO issue price of ₹949 per share. LIC shares were allotted to the investors at ⁹949 apiece and got listed at discount.

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The government on Friday said it is ‘concerned’ about the temporary dip in the insurance giant’s stock price and assured that the insurer’s management will look into these aspects and raise shareholders’ value.

The insurer posted a 17% decline in consolidated net profit to ₹2,409 crore for the fourth quarter ending March 2022.

Analysts at Mehta Equities say the company will find interest from domestic retail and HNI investors as well as institutional investors.

Anchor investors oversubscribed a day before the initial share sale of the Life Insurance Corporation of India (LIC) was opened for subscription. The government raised more than ₹20,000 crore by diluting its 3.5% stake in the state-owned insurer.

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Security Incident Twitter Confirms Leaked Private Tweets To Everyone: Report

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4 weeks ago

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May 8, 2023

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Security Incident Twitter Confirms Leaked Private Tweets To Everyone: Report

Twitter, the popular social media platform, has been hit by a security incident that reportedly leaked private tweets to all users. The company has confirmed the incident and is investigating the cause.

According to reports, the incident occurred when a user discovered that they were able to view private tweets from other users who did not follow them. The user shared their findings on a Reddit forum, and the news quickly spread across social media.

Twitter has acknowledged the incident, saying in a statement that it is investigating the issue and taking steps to ensure that it does not happen again. The company has not yet provided any details about how the incident occurred or how many users were affected.

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The incident has raised concerns about the security of private data on social media platforms. Twitter’s privacy policy states that private tweets are only visible to users who have been approved to follow the account. The fact that private tweets were leaked to all users suggests a serious breach of security protocols.

Twitter has faced similar security incidents in the past, including the high-profile hack of celebrity accounts in 2020. The company has since implemented new security measures to prevent future incidents, but the recent leak of private tweets suggests that more work needs to be done.

In conclusion, the security incident on Twitter that leaked private tweets to all users is a cause for concern. While the company is investigating the issue and taking steps to prevent it from happening again, it highlights the need for stronger security protocols and measures to protect private data on social media platforms. Users should also be cautious about sharing sensitive information on social media and ensure that their privacy settings are set appropriately to avoid any unwanted leaks of private information.

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