LIC to make debut on stock exchanges today

PTI

New Delhi

The country’s largest insurer LIC will list its shares on the stock exchanges on Tuesday after witnessing a good response from domestic investors in the initial share sale, which fetched Rs 20,557 crore to the government. The government had fixed the issue price of LIC shares at Rs 949 apiece for allotment to investors. PTI

Mumbai
Sensex, Nifty end six-day decline in see-saw trade
Benchmark BSE Sensex rebounded by 180 points at close after a see-saw trade on Monday, ending its six-day falling streak on the back of gains in banking, financials, power and auto counters. The finally settled at 52,973.84. The Nifty went up by 60.15 points to finish at 15,842.30. PTI

Chicago
McDonald’s to sell its Russian business
McDonald’s said on Monday it has started the process of selling its Russian business, which includes 850 restaurants that employ 62,000 people, making it the latest major Western corporation to exit Russia since it invaded Ukraine in February. AP

New Delhi
SBI hikes lending rate by 0.1%, EMIs to go up
The country’s largest lender SBI has raised its marginal cost of funds based lending rate by 10 basis points or 0.1% across all tenures, a move that will lead to an increase in EMIs for borrowers. This is the second hike in a month raising the cost by 0.2% with the two consecutive increases.