Life Insurance Corporation of India (LIC) has got a three-year-extension from the Securities and Exchange Board of India (Sebi) to achieve 10 per cent public shareholding, the state-owned firm told the exchanges on Wednesday.

LIC has to get its public shareholding to 10 per cent on or before May 16, 2027.

India’s largest cinema operator is in discussions to screen key matches during the International Cricket Council Men’s T20 World Cup, in a bid to lure patrons as movies continue to struggle at the box office.

“Our biggest focus is to stay relevant as a medium,” PVR Inox Ltd.’s Chief Financial Officer Nitin Sood said in an interview. The operator would show key games from the tournament, which starts next month, he said.

Aadhar Housing Finance made a flattish stock market debut on Wednesday with its shares of housing finance company (HFC) getting listed at Rs 315 per share, a 0.22 per cent discount over its issue price of Rs 315 per share.

However, after listing the stock of the company moved up to 4.7 per cent at Rs 329 a piece in intraday deals on the BSE.

Prime Minister Narendra Modi on Tuesday declared his total assets amounting to Rs 3.02 crore in his Lok Sabha poll affidavit, as required for contesting elections in India.

According to the election affidavit, PM Modi has Rs 52,920 in cash and fixed deposits worth Rs 2.85 crore (Rs 2,85,60,338) in SBI. The gross total value of his assets is Rs 3,02,06,889.

PM also has four gold rings worth Rs 2,67,750.

Public sector banks' cumulative profit crossed Rs 1.4 trillion in the financial year ended March 2024, recording a growth of 35 per cent over the previous year on a high base of Rs 1 trillion.

The 12 Public Sector Banks (PSBs) together had earned a net profit of Rs Rs 1,04,649 crore in 2022-23.

Shares of Vedanta hit 14-year high of Rs 438.30, surging 6 per cent on the BSE in Tuesday’s intra-day trade amid heavy volumes after the company said its board will meet on Thursday, May 16 to consider fund raising plan. The board will also consider first interim dividend on equity shares, if any, for the financial year 2024-25.

Currently, Vedanta is trading at its highest level since May 2010. The stock had hit a record high of Rs 494.30 on April 8, 2010. In past two months, the market price of Vedanta has appreciated by 75 per cent.

Quant Money Managers has got the banking regulator's approval to acquire an aggregate holding of up to 9.98 per cent of the paid-up share capital or voting rights in RBL Bank within May 12, 2025.

The stake can be acquired through various schemes of Quant Mutual Fund, a subsidiary of the investment management firm. As of May 10, Quant Money held 4.68 per cent of RBL Bank's equity share capital.

Food tech major Zomato on Monday said its subsidiary Zomato Payment Pvt Ltd (ZPPL) has decided to voluntarily surrender the certificate of authorisation it obtained from the Reserve Bank to operate as an online payment aggregator.

"At Zomato, we do not see ourselves having a significant competitive advantage against the incumbents in the payments space and hence we don't foresee a business in payments space as commercially viable for us, at this stage.

Senior BJP leader and former Bihar Deputy Chief Minister Sushil Kumar Modi passed away at the age of 72 on Monday, said the Bihar unit of BJP.

Modi had in April this year revealed that he was suffering from cancer and that he would not contest the 2024 Lok Sabha elections due to his poor health.

In an exclusive interview with a leading media channel on Monday, Union Home Minister Amit Shah cautioned against linking recent stock market fluctuations with the 2024 Lok Sabha elections. Shah, a key figure in India's political landscape, urged investors to consider purchasing stocks before June 4, the pivotal date for the Lok Sabha election results. Expressing optimism, Shah forecasted a surge in the domestic stock market in the forthcoming period.

"I can't anticipate stock market moves. But normally whenever a stable government is formed at Centre, the market sees a rally. I see 400-plus seat wins for the Bharatiya Janata Party [BJP], a stable Modi government coming, and thus market rising," Shah told NDTV.

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