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South Korean Presidential Office: The Blue House (South Korean presidential residence) convened a National Security Council meeting.On September 20th, Iranian Parliament Speaker Mohammad Ghalibaf stated that the notion of choosing between "war and negotiation" is wrong. Iran must fight back rationally and forcefully, and negotiate with an authoritative and rational attitude at the appropriate time. Ghalibaf said that Iran has clearly conveyed its conditions to the other side through intermediaries. Unless these conditions are met, Irans legitimate rights are recognized, and the United States commitments are fulfilled, there is absolutely no possibility of returning to the previous negotiating state, nor is it possible to reopen the Strait of Hormuz.September 20 - According to sources within the Chinese military, on September 18, the New Zealand frigate HMAS Temana and the supply ship HMAS Oteyarova transited the Taiwan Strait. The Peoples Liberation Army monitored and monitored them throughout their transit, and the situation was under control.UBS predicts that AI capital expenditure will approach $1 trillion in 2026 and further climb to approximately $1.4 trillion in 2027, with the primary driver of this growth being a significant increase in memory costs. UBS estimates that memory-related spending will surge from $71 billion in 2025 to $367 billion this year, reaching $923 billion in 2027. Other AI-related costs are projected at $631 billion in 2026, declining to $525 billion in 2027. This means that rising memory costs this year will contribute approximately 60% of the increase in AI capital expenditure; and by 2027, with declining spending on other components, the increase in memory costs may even exceed the total net increase in AI capital expenditure.September 20 - According to Australian sources, a knife attack occurred in Sydney, Australia on the 20th, resulting in the death of one child and serious injuries to two other children and a woman.

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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