Experts Recommend Retaining LIC Shares As They Predict Better Returns Than FD Published 27 minutes ago
Market experts have predicted green pastures for those who would invest in the shares of the country's largest insurance company, Life Insurance Corporation of India (LIC). Investing in shares of LIC can give one better returns than FD in the coming days, according to experts. LIC had an unexpectedly great June quarter and it published its quarterly financial results on August 10. Since then, it has rallied over two per cent in the two trading days.
Market pundits expect that LIC's stock can jump more than 40 per cent from its current level in the next 3-6 months. On Thursday, August 17, LIC's share was at Rs 659.05 on the NSE at 1:40 pm with a jump of about one and a half per cent. The state-run life insurer's shares debuted in the primary market on May 17 last year at a discount of eight per cent.
However, it could never touch its issue price of Rs 949. On the day of listing, it had reached an intra-day high of Rs 920 and this is its record high. It is currently down 29 per cent from this high. On March 29 this year, it was at a one-year low of Rs 530.20. It is now trading 24 per cent above its 52-week low.
Brokerage firm LKP predicts that LIC would be able to maintain its dominant position in the sector and that its net premium in the current financial year 2023-24 may reach close to Rs 5 lakh crore. The brokerage anticipates stronger activity and higher profitability in August and September. LKP anticipates a boom in the LIC market. Investors could add it to their portfolio between Rs 655 to Rs 670, according to LKP. A target price of Rs. 770–840 has been set by the brokerage and can be attained in the following three to six months.
(Disclaimer: The stocks mentioned here are based on the advice of brokerage houses. If you want to invest in any of these, consult a certified investment advisor. News18 is not responsible for any profit or loss you incur)
Vivek Ramaswamy vows to end ‘birthright citizenship’ for immigrants
In another bombshell statement, Vivek Ramaswamy said that he would work towards ending birthright citizenship in the US if he becomes the President. A similar proposal was suggested by former President Donald Trump during his presidential campaign of 2015.
Univision host Ilia Calderón asked the Republican presidential candidate “what legal premise" he would use to expel undocumented immigrants and their American-born children from the country.
To this, Ramaswamy responded saying his opponents onstage “are on the right side of this issue" by supporting the militarization of the southern border, defunding “sanctuary cities," and an end to foreign aid to Mexico and Central America, but the candidate said he would go a “step further" by ending “birthright citizenship for the kids of illegal immigrants in this country."
“The 14th Amendment — which guarantees birthright citizenship to most people born in the United States — says “all persons born or naturalized in the United States and subject to the laws and jurisdiction thereof, are citizens," he said, as quoted by The Washington Post.
“The children of undocumented immigrants born in the United States should not be granted citizenship, because their parents broke of law to be in the country."
“As the father of two sons, it is hard for me to look them in the eye and say, ‘You have to follow the law,' when our own government fails to follow its own laws," The Post quoted Ramaswamy as saying.
Notably, birthright citizenship is a common target of Republican candidates on the campaign trail. In 2015, Trump proposed that Congress should end birthright citizenship for children born to undocumented immigrants in the United States.
In 2018, Donald Trump said he planned to issue an executive order that would end the automatic grant of citizenship to those born in this country to noncitizens, however, that order never came to fruition, the Washington post reported.
(With agency inputs)
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Source: Live Mint
Related Posts: VIVEK RAMASWAMY,DONALD TRUMP,US PRESIDENT,US PRESIDENTIAL CAMPAIGN,REPUBLICAN PRESIDENTIAL CANDIDATE
Pyaar Ke Side Effects 2
The contents on TikTok are as striking as any other post on social networking sites. Content creators often create a sensation on Tik Tok that leaves the internet in awe. In a similar attempt, the women of TikTok are showing off the impact they've had on their other half when they enter into a relationship. They've named the phenomenon the ‘girlfriend effect' or ‘girlfriend air.' Isn't it true that we all want to look good for our partners? Well, believe it or not, in this viral trend -‘the girlfriend effect', women are inspiring their partners to regularly upgrade their style and overall appearance, to look and feel their best, leading to their attractive transformations.
This improvement not only focuses on getting healthier physiques but also on having thoughtful sartorial choices and better hairstyles. The ‘girlfriend effect' trend on the social media platform showcases boyfriends' never-imagined-before glow-ups after being in a relationship. Undoubtedly, this trend has not just helped the men learn some aesthetics; it has also helped them gain confidence.
Here are some TikTok users who shared these impressive before-and-after videos on the platform, which have garnered huge traction.
Yzelle Durán: This content creator shared a short clip on TikTok about her husband, which has become a huge trend, amassing over 2.8 million views. The video shows multiple clips of the disheveled men prior to their relationship, and after a makeover, the viewers are treated to the ‘after' picture, which shows Yzelle's husband striking influencer's poses following his fashion overhaul.
Gabe Escobar: It's not just women who are feeling the ‘girlfriend effect', but a TikToker named Gabe Escobar has garnered an astounding 20.6 million views on a similar video. The content creator shared about how his appearance chronicling changed month by month, and thanks to his girlfriend for this transformation.
Prior to meeting his partner, Gabe shared that he went out in a crop top and blue jeans and dressed in white khakis and a thrifted women's blouse, but after his girlfriend came into his life, he ditched those outfits for puffer jackets and a sweatshirt, as well as a different hairstyle.
At the same time, while this ‘girlfriend effect' sounds like a win-win, it has its downsides too. As quoted by Lad bible, some TikTokers have expressed concerns about depersonalizing men's wardrobes.
In a viral video about the same, a TikTok user explained that women unintentionally risked ‘overhauling their boyfriends and completely redesigning them'. If this woman is helping him find a more tasteful way of executing his personal style, that's one thing. But a lot of women are not doing that.”
“They are just purely telling their boyfriends what to wear and getting rid of any sort of personal style that these boys have accumulated for themselves,” they added.
Meanwhile, a pretty disheartening trend called ‘boyfriend air' is also making waves on the internet, in which women share their transformation story with their past photos as they spend more time with their partners and spend less time on self-care.
What are your views on this ‘girlfriend effect'?
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Diamond industry grapples with major slump in demand
India’s diamond cutting and polishing trade is facing an unprecedented crisis amid falling demand, prompting trade bodies to ask members to halt the imports of rough stones for two months.
This is the “worst-ever demand crisis," said Anoop Vrajlal Mehta, president of Bharat Diamond Bourse (BDB), India's hub of diamond trading with the rest of the world. This is just the fifth time since the 1970s that trade associations have made such an appeal to members to halt imports.
The country cuts and polishes nine out of 10 of the world's rough diamonds, providing employment to two million Indians. So far this financial year, exports are down 30.27% from a year ago to $7.03 billion, the worst fall in at least five years.
Demand has collapsed in China, which is battling an economic slowdown after a property bubble burst. In the US, another key market, consumers are shunning luxury goods amid high inflation fuelled by an easy monetary policy during the pandemic. China accounts for 13% of polished diamond exports from India and the US 45-48%.
“Polished diamond prices have fallen by 15-20% from a year ago," said Mehta, who is also chairman and managing director of Mohit Diamonds, one of the 38 Indian sightholders of De Beers. Sightholders are companies authorized by De Beers to buy rough diamonds.
What's worrying is that the fall in demand seems to be structural, with prices for natural diamonds (as opposed to lab-grown diamonds) collapsing by 59% in the past three years, according to a report by Edahn Golan Diamond Research.
“In China, because of a general economic slowdown…offtake has completely ceased, and the US is seeing around 5-10% dent in demand because of tighter monetary conditions," said Vipul Shah, managing director and chief executive officer of Asian Star, another De Beers sightholder.
Shah said a recovery from this demand downturn “seems more difficult" compared to past instances.
Low demand has led to a pile-up of inventory, and thus the call to halt imports, added Shah. “That's why we need to balance the supply-demand dynamic and take a call on the evolving situation by November end."
Industry associations such as the commerce ministry-sponsored Gem and Jewellery Export Promotion Council (GJEPC), BDB and Surat Diamond Bourse have called for a halt on imports of rough diamonds from 15 October to 15 December by their members. Previous instances of such import interruptions include Saudi Arabia's oil embargo in 1973, the 1992 balance of payments crisis in India, the 2008 global financial crisis and in 2019 due to a slowdown just months before the pandemic.
The outlook, too, is none too promising with order books for cutting and polishing down compared to a year ago.
“The domestic market is doing well, but wherever the economy is struggling, exports are not picking up," said Shah, who is also chairman of the GJEPC. Traditionally, gems and jewellery demand picks up ahead of the festive season, but that is not happening this year.
India imports rough diamonds from the likes of De Beers, Rio Tinto and Russia's Alrosa. The imports flow through BDB, from where they are shipped to Surat Diamond Bourse, where cutting and polishing happen before polished diamonds are re-routed to BDB, from where they are exported to the US, Hong Kong and Belgium.
Source: Live Mint
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