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On January 11, Mitsubishi Motors President Takao Kato was interviewed on January 10. Regarding whether to join the management merger consultation between Honda and Nissan, he said "this is one of the options." Speaking of the envisioned benefits, Kato Takao said "We can actively get help in the North American business (where Mitsubishi Motors has no production base)." Kato Takao also pointed out that in terms of in-vehicle software development, "there will also be scenarios where the technical strength of the two companies will be utilized, which will be very beneficial." Honda and Nissan announced the full launch of management merger consultations in December last year. Mitsubishi Motors previously stated that it will decide whether to join the consultations around the end of January.On January 11, CICC commented on the US non-farm data. The team believes that the highlight of this time is the recovery of the service industry. The service industry has added 231,000 jobs, which has become the main driving force. Judging from the market reaction, the unexpected non-farm data has pushed the US Treasury bond interest rate and the US dollar to a new high, which is also in line with its judgment since the fourth quarter of last year: it believes that the US dollar is still strong and that interest rate cuts should be "done in reverse". When the interest rate cut is realized, it will be the low point of the US Treasury bond interest rate, rather than continuing to look at the recession and the starting point of the downward interest rate.German Geoscience Research Center GFZ: A 5.5-magnitude earthquake occurred in Ethiopia.On January 11, according to AFP, US President Biden condemned Metas plan to terminate its third-party fact-checking on the 10th, calling the decision "shameful." Biden told reporters at the White House, "This goes against everything America is about." It is reported that after Meta terminates its third-party fact-checking plan, it will switch to a user-written community annotation model. The plan will be implemented first in the United States, replacing the fact-checking service previously conducted by independent third parties.The Dow Jones Industrial Average closed at 41,938.45 on January 10 (Friday), down 696.75 points, or 1.63%. The S&P 500 closed at 5,827.04 on January 10 (Friday), down 91.21 points, or 1.54%. The Nasdaq Composite closed at 19,161.63 on January 10 (Friday), down 317.25 points, or 1.63%.

Analysts Predict That India's Life Insurance Corp Will Have A Lackluster Market Launch

Aria Thomas

May 17, 2022 10:22

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Analysts predict that Life Insurance Corp will have a lackluster debut on Indian stock exchanges on Tuesday, despite the oversubscription of its $2.7 billion initial public offering.


Last Monday, India priced LIC's record-breaking IPO at the top of the stated range, 949 Indian rupees ($12.20). The government has raised approximately $2.7 billion by selling a 3.5% stake in LIC, the country's largest state-owned insurance.


However, uncertainty in global markets and selling pressure on the domestic stock market are anticipated to cast a shadow over LIC's listing, and the shares are likely to begin trading at a little discount or near the IPO price.


"Unofficial gray premium is trading in negative territory, primarily as a result of gloomy global markets. We anticipate a soft listing at +/- 5% of the offering price, "Prashanth Tapse, research analyst at domestic brokerage Mehta Equities, said on the price.


New Delhi had planned to list LIC in March of this year, but was forced to postpone the listing due to unfavorable market conditions in the wake of the Ukraine conflict.


The offering is considered essential for India to accomplish its lofty goal of selling off state assets. The debut result will also set the tone for future issues after India's recent major IPOs badly burned regular investors.


The per-share price range for the offering was established between 902 and 949 rupees. Employees and retail investors received a discount of 45 rupees per share, while policyholders received a discount of 60 rupees per share.


LIC shares were trading at a discount of roughly 15 rupees on the gray market, compared to a premium of nearly 100 rupees earlier this month.


"Even if the shares list flat on Tuesday, ordinary investors would still be able to make money because of the discount," said Narendra Solanki, head of fundamental analysis at domestic brokerage Anand Rathi.


With over 280 million policies, the 66-year-old firm leads India's insurance industry.

IPO MARKET DECREASE

The Indian IPO market, which had exponential growth in 2021, has experienced a dramatic decline this year. EY reported on Monday that this demonstrates the impact of geopolitical tensions, stock market volatility, a price correction in overvalued stocks from recent IPOs, concerns about rising commodity and energy prices, and slower economic development.


EY said that in the first quarter of 2022, India's primary markets raised $995 million through the three largest IPOs, compared to $2.57 billion during the same period the previous year.


Sandip Khetan, Partner and Financial Accounting Advisory Services Leader at EY India, stated that if market conditions improve, there may be a solid pipeline of IPOs this year, as more than 20 businesses had filed draft prospectuses in the first quarter.

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