While 74% FDI is permitted in insurance sector, the rules do not apply to LIC. Anurag Jain, secretary in the department for promotion of industry and internal trade (DPIIT), said the current policy related to the sector will not facilitate the disinvestment process of LIC and, hence, needs to be revised.

ICICI Securities, in turn, estimates Airtel to report the highest ARPU jump among the three private carriers, at 6.6% on-quarter to ₹164, while Jio and Vi are reckoned to see 5% and 4.2% sequential upticks on this key performance metric to ₹151 and ₹114 respectively in October-December.

There are two key factors which have contributed to this trend. Unlike build, operate and transfer (BOT) projects, which require high capital, hybrid annuity construction projects are asset light as 40% of the project cost is borne by the government. Due to this, banks have been funding construction projects of unlisted companies. The second factor is flexible pre-qualification norms to secure projects.

The Reliance-Dunzo deal has more than doubled the valuation of the Bengaluru-based startup to $775 million. Dunzo is planning an IPO in the next three years, an idea that Reliance Retail is “supportive” of.

The regulator Irdai on Thursday decided to set up two hubs on motor insurance and property insurance and also an advisory committee with the overall objective to promote loss prevention measures in the general insurance industry

Shares of Meta Platforms jumped 2.6%, the biggest boost to the S&P 500 and Nasdaq.

In other transactions, Axis Bank continued to dump shares of Orient Green Power Company. Similarly IDBI Trustee also dumped shares of GTL Infra.

The Dow Jones Industrial Average rose 1.94 points, or 0.01 per cent, at the open to 36,409.05.

Prices for all crude grades to Asia drop at least $1/bbl

The company said its net revenue from operations increased 55 per cent to Rs 105.69 crore from Rs 68.08 crore a year ago.