LIC Housing Finance eyes 15-16% growth in FY 2018-19, says Managing Director Vinay Sah Posted on 2nd November 2018 |
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| LIC Housing Finance Ltd was eyeing 15-16 per cent growth rate during the current financial year, a top company official said Friday. After inaugurating the 21st edition of the property fair ‘Ungal Illam’ here, company Managing Director and CEO, Vinay Sah said, “We have targeted to grow at about 15-16 per cent this year. Our H1 (April-September period), growth rate was in the range of 20 per cent.” On the disbursements made by the company, he said, “Last year (made in FY2017-18) actually our overall disbursements were nearly Rs 50,000 crore. We are targeting a growth rate of 15 per cent (on that).” The company recorded disbursemments of about Rs 49,378 crore upby 19 per cent in FY 2017-18 over previous year. The disbursements in Southern region stood at Rs 7,736 crore as of March 31, 2018, he said. On fund raising plans, he said, it was an ongoing process and the company had planned to raise funds to the tune of Rs 75,000 crore during the current fiscal. To a query on its decision to defer the fund raising of upto Rs 1,500 crore through non-convertible debentures (NCDs) recently, he said, already the company floated the issue and next week the bidding process would commence. “We withdrew because the rates were not suitable for us,” he said. About the property fair, Sah said, more than 100 projects of various realty developers would be showcased during the event, which concludes on November 4. “New projects will be launched by some builders during the mega show,” he said. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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| Be the first person to write a business review for LIC Housing Finance eyes 15-16% growth in FY 2018-19, says Managing Director Vinay Sah |
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