Morning Buzz: LIC makes Rs3,816 crore profit in Adani firms; Fame III may feature in interim budget, and more
Despite the sale—amid volatility in the stock prices of various group companies—the value of LIC's investment has risen by 54 percent; the interim budget could set aside Rs10,000-12,000 crore for expansion of the FAME subsidy for electric vehicles
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Fame III may feature in interim budget
The interim budget could set aside Rs10,000-12,000 crore for expansion of the FAME subsidy for electric vehicles. The subsidy will be focussed on mass transport such as buses and personal mobility vehicles like two-wheelers. It will also prioritise vehicles that are indigenously produced.
(Economic Times)
Tata group only brand in the top 100: Brand Finance survey
The Tata group is the only brand that has made it to the top 100 in a survey by Brand Finance. It moved up from 69th position to 64 in 2024. There are 14 Indian companies whose brands are in the top 500 list. These include Life Insurance Corporation of India, State Bank of India, HDFC Bank and Reliance Group.
(Business Standard)
Shriram group in talks to sell home finance unit
The Shriram group is in talks with Warburg Pincus and Shriram Housing Finance to sell its home finance unit, Shriram Housing Finance, for Rs5,000 crore, according to two people familiar with the matter. Shriram group declined to comment. Negotiations are likely to be closed by the June-ended quarter if the sale takes place.
