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In an interview to ET NOW, Kumar said the government may not sell LIC stake in FY23 and that the life insurer will engage with the government to protect stakeholder interest. Kumar said investors seem concerned over the value of new business (VNB) and embedded value will be disclosed before the end of June.

“One has to find ideas and keep adding to them gradually as we go long. We do not know when markets will bottom, how deep they will go but the fundamentals of the Indian economy, relative to the rest of the world are in very good shape and that is the positive news.”

The government is likely to respond to... economic weakness by delivering more fiscal stimulus. At the same time, to avoid a rapid rise in fiscal leverage, the government may also continue to deregulate some sectors to help promote tax revenue growth and employment," Iris Pang, chief economist for Greater China at ING, said in a note

Money markets are now certain that the Fed will raise rates by 75 basis points later in the day, which would be the biggest increase since 1984, after data last week showed U.S. consumer price inflation running red hot.

The stock quoted a 52-week high price of Rs 606.0 and a 52-week low of Rs 455.8.

DCB Bank Ltd., incorporated in the year 1995, is a banking company (having a market cap of Rs 2427.59 Crore).

“LIC presents some opportunity to investors with a one- or two-year perspective but I would like to highlight that instead of buying it only because it has fallen, we could create a two-three stock basket for the insurance plays and have some allocation for LIC along with some of the private names. ”

The PSU bank reported a 41.27 per cent YoY jump in standalone net profit at Rs 9,113.53 crore for March quarter, up from Rs 6,450.75 crore in the year ago quarter.NIM was stable sequentially at 3.12 per cent. Gross non-performing assets (NPAs) were at 3.97 per cent of the total assets, down from 4.50 per cent sequentially and 4.98 per cent year-on-year.

“This obsession with the United States is not only unnatural, it is completely stupid because United States is only one-fourth of the global economy. There is this obsession with the United States, the belief that whatever happens in the US, happens to all of us. No, it does not. It does not happen to Japan, and it does not happen to China.”

As of 31-Mar-2022, promoters held 54.9 per cent stake in the company, while FIIs held 19.9 per cent and domestic institutional investors had 10.68 per cent.