Forbes India 15th Anniversary Special

Morning Buzz: LIC makes Rs3,816 crore profit in Adani firms; Fame III may feature in interim budget, and more

Despite the sale—amid volatility in the stock prices of various group companies—the value of LIC's investment has risen by 54 percent; the interim budget could set aside Rs10,000-12,000 crore for expansion of the FAME subsidy for electric vehicles

Samar Srivastava
Published: Jan 18, 2024 09:58:39 AM IST
Updated: Jan 18, 2024 10:05:32 AM IST

Morning Buzz: LIC makes Rs3,816 crore profit in Adani firms; Fame III may feature in interim budget, and moreImage: Nasir Kachroo/NurPhoto via Getty Images

Fame III may feature in interim budget

The interim budget could set aside Rs10,000-12,000 crore for expansion of the FAME subsidy for electric vehicles. The subsidy will be focussed on mass transport such as buses and personal mobility vehicles like two-wheelers. It will also prioritise vehicles that are indigenously produced.
(Economic Times)

Tata group only brand in the top 100: Brand Finance survey

The Tata group is the only brand that has made it to the top 100 in a survey by Brand Finance. It moved up from 69th position to 64 in 2024. There are 14 Indian companies whose brands are in the top 500 list. These include Life Insurance Corporation of India, State Bank of India, HDFC Bank and Reliance Group.
(Business Standard)

Shriram group in talks to sell home finance unit

The Shriram group is in talks with Warburg Pincus and Shriram Housing Finance to sell its home finance unit, Shriram Housing Finance, for Rs5,000 crore, according to two people familiar with the matter. Shriram group declined to comment. Negotiations are likely to be closed by the June-ended quarter if the sale takes place.
(Mint)

LIC makes Rs3,816 crore profit in Adani firms

India’s largest life insurer Life Insurance Corporation of India (LIC) has sold shares worth Rs3,816 crore in Adani group companies in the December quarter amid volatility in the stock prices of the various group companies. Despite the sale, the value of LIC’s investment has risen by 54 percent from Rs36,470 crore to Rs56,073 crore as the shares have gained last year.
(Mint)