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Govt may defer LIC IPO to next fiscal amid Ukraine crisis: Experts

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Govt may defer LIC IPO to next fiscal amid Ukraine crisis: Experts

The government was looking to sell 5 per cent stake in Life Insurance Corporation (LIC) this month, which could have fetched over ₹60,000 crore to the exchequer. The current geopolitical issue between Russia and Ukraine makes the global equity markets jittery. Indian markets also reacted negatively to this development and corrected nearly 11 per cent from their all-time high.

The weak market sentiments, especially in the wake of the Ukraine-Russia war, have been a dampener for the IPO. While there is a possibility of the IPO getting postponed, the issue remains critical to the government’s disinvestment plans. In a highly volatile market, investors tend to play safe and refrain from making fresh investments.

This means it will need FPI support – government is cognizant of this and hence cabinet approved 20 per cent FPI investment in the LIC IPO under the automatic route,” Agarrwal said.

The public issue would be the biggest IPO in the history of the Indian stock market. Once listed, the company’s market valuation would be comparable to top companies like RIL and TCS.

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Vijay Singhania, Chairman, TradeSmart said the war is now going on in a region where nuclear power plants are operational and any mishap will be disastrous for mankind. For the government, a few months’ delays would not matter much given the times we are living in.

Most successful IPOs always come in Bull Run in the stock market. Policy makers may defer this for now and bring it on next fiscal year. IPOs generally come in low rates scenarios. So, now there is very little room to adjust the LIC IPO in the coming time.

The government is likely to miss its revised disinvestment target by a huge margin. So far, the government has raised about ₹12,000 crore through CPSE and Air India disinvestments this fiscal.

Complete News Source : MINT

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Delhi Weather and AQI Today: Warm start at 22.05 °C, check weather forecast for October 22, 2024

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Delhi Weather and AQI Today: Warm start at 22.05 °C, check weather forecast for October 22, 2024

Check the weather forecast and air quality updates for Delhi on October 22, 2024 here.

The temperature in Delhi today, on October 22, 2024, is 32.93 °C. The day’s forecast indicates a minimum and maximum temperature of 22.05 °C and 35.04 °C, respectively. The relative humidity is 26% and the wind speed is 26 km/h. The sun rose at 06:26 AM and will set at 05:44 PM.

Tomorrow, on Wednesday, October 23, 2024, Delhi is predicted to experience a minimum and maximum temperature of 27.42 °C and 34.91 °C, respectively. Tomorrow humidity levels will be at 20%.

With temperatures ranging between 22.05 °C and 35.04 °C, prepare for a hot day and plan outdoor activities accordingly. If you are sensitive to heat, take note of the weather forecast and consider appropriate attire and activities suitable for the prevailing weather.

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The AQI in Delhi today stands at 334.0, falling in the very poor category. Everyone should be cautious. Children and people with respiratory diseases, such as asthma, should stay indoors and others should also limit their outdoor activities. Usage of masks and air purifying devices is advised. Being aware of the AQI helps one make informed decisions regarding one’s overall well-being while planning the day’s activities.

Weather and AQI predictions in Delhi for next 7 days:

DateTemperatureSky
October 23, 202432.93 °CSky is clear
October 24, 202432.69 °CSky is clear
October 25, 202432.5 °CSky is clear
October 26, 202432.07 °CSky is clear
October 27, 202430.69 °CSky is clear
October 28, 202431.29 °CSky is clear
October 29, 202432.09 °CSky is clear

Weather in other cities on October 22, 2024

CityTemperatureSky
Mumbai28.35 °CLight rain
Kolkata28.84 °CSky is clear
Chennai28.94 °CLight rain
Bengaluru25.53 °CModerate rain
Hyderabad27.75 °CModerate rain
Ahmedabad31.9 °CSky is clear
Delhi32.93 °CSky is clear

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