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“Two years back when the Covid lockdown had happened, with an exception of one quarter where the industry AUM dipped, the industry growth has been very secular and if SIP is one of the barometers, then the SIP also was close to about Rs 7,000 crore odd at that point of time. Today it is about Rs 12,000 crore odd.”

Sharp reaction to March quarter earnings, Covid resurgence, war in Ukraine and changing perceptions about the invincibility of Big Tech companies are behind the plunge in the stock markets. The 30-share flagship BSE Sensex tumbled 529.72 points to close at 56,819.39, while its broader peer Nifty50 settled 162.60 points lower at 17,038.40.

Pocket Network provides limitless blockchain bandwidth from a globally distributed network of more than 44,000 full nodes to applications in Web3 across 45 blockchains, including Ethereum, Polygon, Solana, Fuse, Avalanche, and Harmony.

The debentures are proposed to be listed on BSE. Debenture Trust Deed will be duly executed as per the requirements of and within the period prescribed under the Companies Act and rules specified therein.

The state-owned insurer said the government will be selling shares in the price band of Rs 902-949. The government plans to offload 3.5 per cent stake or 22.13 crore shares in the company and raise Rs 20,557.23 crore. This is well short of earlier projection of about Rs 60,000 crore.

On the technical charts, the 200-day moving average of the stock stood at Rs 910.76.

As per the final papers filed with Sebi, the allotment of shares to the demat account of bidders will happen by May 16, post which LIC would commence trading of equity shares in the stock exchanges and list "on or about May 17".

“This will be a year where benchmark returns would be rather difficult to get but it is a year where sector rotation will be far more important and that is what we need to focus on. Rising yield is a reality, rising commodity prices is a reality, we will have to guide our portfolio through these worries and maybe look at potential winners.”

A total of 50,679 shares changed hands on the counter till 01:39PM (IST).

“LIC IPO is right sized, given the constraints in the market. LIC IPO will not crowd out capital and monetary supply in the market,” said Tuhin Kanta Pandey, Secretary, DIPAM, which is the government agency that looks after investments and divestments.