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LIC shares continue to surge, is it the new investor favourite?

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Team Happen Recently
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LIC surged five per cent in open trade, continuing its stellar performance from Thursday when it hit an all-time high.

Life Insurance Corporation (LIC) surged five per cent in open trade, continuing its stellar performance from Thursday when it hit an all-time high.At opening, the shares of LIC were trading at ₹1162.25 against the previous day’s close of ₹1106.The surge in the insurer’s stock came days after Prime Minister Narendra Modi mentioned its performance during his address to the Rajya Sabha. “Opposition spread rumours about LIC, but today its shares are trading at record high price,” the prime minister had said in the Rajya Sabha during the ongoing budget session. On Thursday, the LIC stock zoomed 9.51 per cent to hit the record high of ₹1,144.45 before settling at a six per cent gain at ₹1,106.25 when the market closed. The company’s market valuation surged by ₹38.740.62 crore to ₹6,99,702.87 crore. As a result, the company edged past ICICI Bank to become the fifth most valued firm by market capitalisation. Last month, the insurer had surpassed State Bank of India (SBI) to become the country’s most-valued PSU firm by market valuation.

The LIC stock was listed in May 2022. The government had sold over 22.13 crore shares, or a 3.5 per cent stake in LIC, through an Initial Public Offering (IPO).

LIC Q3 net profit jumps by 49 per cent

LIC had reported a 49 per cent jump in net profit at ₹9,444 crore in the third quarter that ended in December. According to a PTI report, the company had a net profit of ₹6,334 crore in the year-ago period, the company said in a regulatory filing.

LIC’s net premium income eased to ₹1,17,017 crore in the third quarter of the current fiscal, from ₹1,11,788 crore in the same period a year ago. Its total income declined to ₹2,12,447 crore in the latest December quarter, compared to ₹1,96,891 crore in the year-ago period, it said.The asset under management (AUM) of the insurer increased to ₹49.66 lakh crore as compared to ₹44.34 lakh crore at the end of December 2022, registering a growth of 12 per cent, the company added. 

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The Centre has decided to decrease the limit on the amount of wheat that can be stored in order to prevent hoarding before the Lok Sabha elections.

By
Team Happen Recently
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The Centre has decided to reduce the wheat stock limit for traders/wholesalers, big chain retailers, and processors in an effort to prevent hoarding and control the rise in prices before the Lok Sabha elections. 

The Ministry of Consumer Affairs, Food and Public Distribution has revised the limit to 500 MT for traders/wholesalers and big chain retailers, and set it at 60% of the monthly installed capacity for processors.

 The limit for retailers remains unchanged at 5MT for each outlet. The government has also implemented stock limits and licensing requirements to prevent artificial scarcity and hoarding. Entities that exceed the stock limits will face punitive action.

 Additionally, the government has introduced the Open Market Sale Scheme (Domestic) to increase the availability of wheat at affordable prices. The Food Corporation of India (FCI) is allocating wheat at subsidized prices and providing it to co-operative organizations for processing and sale to the public. 

The Department of Food and Public Distribution is closely monitoring the wheat stock position to ensure price control and availability.

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India and the Maldives engage in discussions over trade and mutual security amidst a tense standoff

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Team Happen Recently
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Both nations have reached a consensus to promote and advance the diverse collaboration between the Maldives Customs Service (MCS) and the Central Board of Indirect Taxes and Customs (CBIC).

The Indian High Commissioner to the Maldives, Munu Mahawar, met with Maldivian Commissioner General of Customs, Yoosuf Maaniu Mohamed, to discuss new areas of cooperation in trade and security. 

The two countries agreed to further explore collaboration between the Maldives Customs Service and the Central Board of Indirect Taxes and Customs. This meeting occurred amid strained relations between the two countries due to negative social media posts by Maldivian officials about Prime Minister Narendra Modi’s visit to Lakshadweep and a request for the withdrawal of Indian troops by Maldivian President Mohamed Muizzu.

The Indian High Commission to the Maldives had a productive meeting with Commissioner General Yoosuf Maniu to further enhance collaboration between Customs Maldives and CBIC India. They discussed capacity building, trade facilitation, and mutual security. 

The High Commissioner of India also met with Maniu to strengthen coordination and cooperation, and they explored new areas for capacity building and training. In addition, India has agreed to replace military personnel at aviation platforms in the Maldives with competent technical personnel. The Maldivian government formally requested India to withdraw its troops from Male, and further high-level meetings are scheduled to take place later this month.

According to the statement, both sides have agreed on solutions that will allow Indian aviation platforms to continue providing humanitarian and medical services to the people of the Maldives. 

Muizzu’s party campaigned on removing Indian troops from the country, and currently, there are 70 Indian troops stationed in the Maldives, along with aircraft and helicopters. The Indian government has allocated Rs 779 crore for the Maldives in the Interim Budget 2024-25, showing their commitment as a development partner for Male.

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The state of Maharashtra in India has entered into an agreement with Google to utilize the power of artificial intelligence

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Team Happen Recently
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The signing of the MoU took place at the company’s office in the presence of deputy chief minister Devendra Fadnavis, Sanjay Gupta, country head and vice president of Google India, and state chief secretary Nitin Kareer.

The government of Maharashtra has signed an agreement with Google to use Artificial Intelligence (AI) in various sectors such as agriculture, healthcare, and education. The memorandum was signed at Google’s office in the presence of the deputy chief minister, country head and vice president of Google India, and the state chief secretary. 

The deputy CM mentioned that AI is transforming lives and businesses and expressed the government’s plans to establish a center of excellence in Nagpur. He emphasized the importance of using technology to positively impact governance and improve service delivery.

Mr. Fadnavis stated that Google and the state government will collaborate on seven different aspects, one of which is focused on “agricultural sustainability.”

 He emphasized the significance of sustainability in agriculture, as climate change factors like unpredictable rainfall and droughts have become localized problems. To address these concerns, the government places significant importance on cultivating predictability and sustainability in the agricultural sector.

According to Mr. Fadnavis, Google’s creation of platforms and applications can bring sustainability and predictability to agriculture, reducing agricultural distress. This collaboration will also put Pune on the global map in terms of startups, particularly in the agricultural field. The government will also work with Google to bring healthcare to underserved populations, using technology to bridge the gap in access to trained doctors and provide quality healthcare to everyone.

According to the Chief Minister, Mr. Fadnavis, Prime Minister Narendra Modi has established a delivery system based on technology. As a result, government initiatives are now reaching the most marginalized individuals in society, and 25 crore people have been lifted out of poverty. The Chief Minister also expressed his belief that the use of artificial intelligence (AI) will contribute to the development of an ecosystem.

 The company’s press release stated that the Maharashtra government will be able to utilize Google’s AI knowledge to explore new opportunities in the fields of land record management, disease detection, urban environment resilience, and AI skill enhancement, among other areas.

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Ramneek Singh: Meteoric Rise From Student To Mister Global India – A Triumph In Modeling Excellence.

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Team Happen Recently
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Ramneek Singh

The story of Ramneek Singh, who is both a model and social media influencer from New Delhi at 25 years old, provides an example of how someone can become a shining light of success and motivation in the modeling industry. This achievement has earned him the title Mr. Global India Awardee 2021; it was not just about fame though.

He got into modeling when he was in his twelfth grade, driven by traveling, dressing up, accessories and event management. Starting off with confusion but finally overcoming obstacles with determination. Ramneek went through college while also having a professional certificate in event management, so he ventured into modeling where he faced rejection upon rejection but eventually found guidance that steered him right.

Ramneek’s journey is littered with milestones. He had once faced the camera for TV reality show “Love and War” that aired on 9xm and MX Player. His biggest triumph came as he bagged the title Mr. Global India Awardee 2021; significantly enough, he was first runner-up at Mr. Icon India 2020, retaining Best Smile Icon India 2020 tag too. He started his modeling journey being selected as one of the finalists for Mr. Delhi in 2018.

The modeling portfolio that Ramneek has consists of a numerous range of experiences; shoots for magazines, ramp walks, fashion shoots, website shoots, print shoots and brand shoots. He was charming in a TVC Promo Shoot for Mr. and Miss Asia Supermodel 2021. His will-o’-the-wisp presence also extends to the music industry having featured in Punjabi songs like “PROFILE,” “Bijlee Bijlee” (Cover Song) and “Tere Naal Viahi.”

In the digital era, Ramneek capitalized on his online profile to expand his reach among many audiences. A window into his vibrant life and successful career are offered by his Instagram handle and Facebook page.

However, Ramneek’s success in modeling is not just a consequence of it alone but reveals profound belief in strong positive self-image as the key to success. This includes viewing rejection as part of life’s challenges. In an unorthodox way though he does not say that he would like to emulate one person but looks up to those who dare step into unknown territory first.

Ramneek’s journey into destination wedding coordination showcases his multifaceted talents and ambitious drive for success. Despite his flourishing modeling career, Ramneek ventured into the realm of wedding coordination, demonstrating his versatility and determination. As part of this endeavor, he played a pivotal role in orchestrating award-winning weddings across India’s top luxury wedding hotels. His involvement in such prestigious events not only underscores his hard work and dedication but also highlights his ability to excel in diverse domains. Ramneek’s ability to seamlessly transition from modeling to wedding coordination underscores his relentless pursuit of excellence and passion for delivering exceptional experiences in every endeavor he undertakes. His remarkable achievements in both fields epitomize his unwavering commitment to success and his willingness to explore new avenues to fulfill his ambitions.

While reviewing his journey, immense satisfaction comes out from what he describes as personal growth and successes. With an insatiable desire to improve every time, he underlines the importance of learning new things and grabbing emerging opportunities on a daily basis. Ramneek Singh’s story is not just about modeling; It is a story of resilience, passion and the unwavering pursuit of dreams. As he continues his journey, there’s undoubtedly more in store for this rising star in the world of fashion and inspiration.

The stock price of Paytm decreased by almost 6% following a two-day period of gains.

By
Team Happen Recently
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After having a positive close on Wednesday, Paytm’s share price fell by almost six percent at the beginning of trading.

Paytm share price was nearly six per cent down in the open after closing in positive on Wednesday. On the Sensex, the shares of Paytm were trading at ₹469.90 after hitting a day high of ₹524. The shares of One97 Communications Ltd, the parent company of Paytm, had soared 10 per cent.

The stock jumped 10 per cent to settle at ₹496.75 — its upper circuit limit — on the BSE after a firm beginning. Shares of the company climbed 9.99 per cent to ₹496.25 on the NSE.

The stock of One97 Communications Ltd rebounded by over 3 per cent on Tuesday after three days of sharp fall.  

The share price slump comes amid the crisis faced by the fintech firm after the Reserve Bank of India barred Paytm Payments Bank from accepting new deposits after February 29. Paytm’s founder and chief executive officer Vijay Shekhar Sharma had met finance minister Nirmala Sitharaman. 

The CEO of the fintech company was informed by the minister that the government could not provide assistance with the regulatory problem. Additionally, Sharma held discussions with officials from the Reserve Bank of India, who declined to make any exceptions for the payments gateway, including allowing the migration of accounts to different banks and extending the deadline of February 29.

Paytm released a statement on Wednesday refuting claims that it was being investigated by central agencies. The company asserts that it and its associates are not the subject of any regulatory probe. The company remains committed to operating in accordance with regulatory guidance and improving its processes to expand digital payments in India.

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RBI Governor makes  significant announcements during policy meeting concerning repo rate, GDP growth forecast, and more.

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Team Happen Recently
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RBI policy meet: The governor of the Reserve Bank of India (RBI) announced that the repo rate will remain unchanged at 6.5 percent. 

Additionally, the RBI projected a GDP growth of 7 percent for the financial year 2024-25, lower than the current fiscal year. The governor also stated that consumer price index inflation for the same period is projected at 4.5 percent. 

India’s foreign exchange reserves stood at $622.5 billion as of February 2, indicating a strong external sector.

 Lastly, the RBI proposed a principle-based framework for the authentication of digital transactions, while acknowledging the popularity of SMS-based OTP.

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RBI Monetary policy: Repo rate steady at 6.5%, FY24 inflation forecast unchanged at 5.4%; check for 10 key highlights

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Team Happen Recently
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RBI Monetary policy: The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) on Thursday decided to keep its key policy rates unchanged. RBI bi-monthly Policy Committee (MPC) meeting, which commenced its meeting on February 6, and will conclude its three-day deliberation today.

10 Key highlights

1.RBI keeps repo rate steady at 6.5% with five out of six members voting in favour of the rate decision Experts were also expecting expecting the repo rate to remain steady at 6.5 per cent

2. MPC also decided by a majority (5 out of 6 members) to remain focused on withdrawal of accommodation to ensure the inflation progressively aligns with the target while supporting growth. Monetary policy must continue to be actively disinflationary, RBI Governor Shaktikanta Das said in his statement.

3.This is the sixth consecutive unchanged decision and comes after the Interim Budget was announced on February 1, 2024.

4. With the latest announcement, while the Fixed Reverse Repo Rate is at 3.75%, the bank rate is 6.75%, the marginal standing facility (MSF) rate is 6.25%, and the standing deposit facility rate is at 6.25%

5. RBI Governor said that the MPC remained resolute on containing inflation at target of 4%.

6. The Reserve Bank of India (RBI) has maintained its inflation projection at 5.4% for 2023–2024.

7.The January-March 2024 (Q4FY24) CPI inflation forecast has been cut to 5.0% from 5.2%.

8. CPI inflation is predicted to be 4.5% for the upcoming fiscal year 2024–2025, with Q1 at 5%, Q2 at 4%, Q3 at 4.6%, and Q4 at 4.7%.

9. Momentum in economic activity is expected to continue in fiscal year 2024-25 said the RBI Governor. The FY25 GDP growth is estimated at 7%, the RBI Governor said.

10.GDP forecast for Q1FY25 has been raised to 7.2% from 6.7%, Q2FY25 raised to 6.8% from 6.5%; Q3FY25 GDP growth forecast raised to 7.0% from 6.4%, while Q4FY25 GDP growth forecast has been pegged at 6.9%.

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The RBI has provided a list of 442 digital lending apps to the IT Ministry, which has been shared with Google. 

By
Team Happen Recently
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This review has resulted in the removal of 2,200 apps from Google’s app store. Around 3,500 lending apps remain after the review. 

The government is taking further measures to address concerns about financial fraud, and a second review meeting on cybersecurity and financial frauds is scheduled for February 9. 

The DFS Secretary, Vivek Joshi, stated that the RBI’s whitelist has helped identify responsible stakeholders and that Google has tightened its uploading policy for lending apps. 

The Centre is also focusing on strengthening cybersecurity and has notified 40 institutions in the BFSI sector as critical information infrastructure. 

The DFS is working with the telecom ministry to develop a system for customers to block and report suspicious or fraudulent phone calls.

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Lakshabhum Private Limited Secures Top Spot Among India’s Leading Construction Companies.

By
Team Happen Recently
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Lakshabhum Private Limited

Lakshbhum Private Limited, under the leadership of Sandeep Kushwaha has stood tall as a great example in the ever dynamic construction and industrial services’ sector. As Chairman and Managing Director, Sandeep Kushwaha has driven the company to unparalleled heights and has made it India’s Most Valuable Company by Market Value.

Thus, boasting of an experienced team with ten years hands-on experience, Lakshbhum Private Limited demonstrates its expertise in various aspects not found elsewhere. This range varies from civil engineering and construction to mechanical and electrical engineering as seen by their portfolio that shows how they are committed to quality and innovation.

The company can attest to completing over a hundred projects across India making it evident that they can do both new constructions as well as repairing/restoring old ones. The company has set industry standards for running seamless projects on occupied or completely operational job sites.

Lakshbhum Private Limited is more than a mere builder; it creates lasting customer experiences. The comprehensive client engagement process includes continuous communication, clear budgeting, efficient staff allocation and site organization. Close cooperation with architects and interior designers leads to attractive and well-structured building works, which are a testimony of the company’s ability to manage projects.

Apart from construction, Lakshbhum Private Limited diversified into renting services for heavy machinery such as JCB, Excavator, Poclain, Rock Breaker, Hydra Crane, Road Roller Dumper & Tipper. It also has mosquito and bird net services that contribute towards health promotion in the society.

As regards interior design, Lakshbhum Private Limited understands space management, user comfort and suitability. The venture highlights the connectivity between societal development and intricate architecture that defines today’s world.

While it continues to transform India’s physical landscape through its construction work including industries and thus still adhering to its high quality standards is committed because quality innovation and welfare always come first at Lakshbhum Private limited. For excellence in construction and related services one needs only approach Lakshbhum Private Limited – this is a name that inspires trustworthiness as well as success.*

Instagram = https://www.instagram.com/lakshbhum._?igsh=MTk2YWE3dm5rbjVueA==

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