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247: Top News Podcast: LIC’s lukewarm market debut, CBI raids on Karti Chidambaram, Elon Musk's condition on Twitter deal and more
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Life Insurance Corporation (LIC) made a lukewarm debut on stock exchanges on Tuesday, listing at a discount of 8 percent from its issue price. LIC stock began its journey on NSE at Rs 872 apiece, a discount of Rs 77 or 8.1 percent, and finished the day at Rs 873.
In this edition of Top News Podcast, CNBCTV18.com’s Kanishka Sarkar shares what experts make of LIC listing, other stocks in focus, the latest on Elon Musk’s proposed Twitter buyout, the future of hybrid working, and more.
While market expert Prakash Diwan said retail investors would love to have LIC shares in their portfolio from a longer-term perspective even at the issue price, some others said LIC didn't hit the ground running but there is great value in the stock.
Meanwhile, Elon Musk said his $44-billion offer would not move forward until Twitter Inc shows proof that spam bots account for less than 5 percent of its total users, hours after suggesting he could seek a lower price for the company.
Back home, the Central Bureau of Investigation (CBI) conducted raids at the residence and offices of Congress leader Karti Chidambaram, son of former finance minister P Chidambaram.
The raids were conducted at nine locations across Chennai, Odisha, Karnataka and other states in connection with a new case of illegal gratification. In the new case which is an offshoot of an ongoing probe, CBI has alleged that Karti received Rs 50 lakh bribe to facilitate the visa of 250 Chinese nationals during the UPA regime for Talwandi Sabo power project in July-August 2011, when P Chidambaram was the Union home minister, officials said.
On the employment sector front, a survey has revealed over 300 organizations in the technology, manufacturing, BFSI, FMCG, retail, health and automobile sectors, are willing to adopt a hybrid or virtual work model in a post-pandemic era.
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