In top developments today, the price band for the much-awaited initial public offering (IPO) of the state-run insurance behemoth Life Insurance Corporation of India (LIC) has been set at Rs 902 to Rs 949, with a discount of Rs 60 for policyholders. Meanwhile, Prime Minister Narendra Modi who was reviewing the COVID situation in India, emphasised that the threat of coronavirus is not fully gone yet and that there was a need to remain alert. In other developments, Info Edge MD and CEO Hitesh Oberoi highlighted that the hiring trend in India currently is the strongest in the last 15 years.

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BUSINESS/ECONOMY

Hiring trend at a 15-year high as recruiters find talent-supply mismatch

As a job seeker, opportunities in the market are currently manifold. There’s been a surge in hiring across sectors in the Indian economy as it came out of the shadows of the pandemic. Check details

HUL Q4 net profit rises 8.6% YoY to Rs 2,327 crore

FMCG major Hindustan Unilever Ltd (HUL) on Wednesday reported a 8.6 percent year-on-year (YoY) jump in net profit at Rs 2,327 crore for the fourth quarter ended March 31, 2022. Read more

High oil prices behind inflation in India, monetary tightening needed: IMF

The surge in oil prices due to the Ukrainian war has pushed up inflation in India, which needs monetary tightening and measures to address structural weaknesses to improve growth potential, said a senior official at International Monetary Fund (IMF). Read more

MARKET

LIC IPO price band set at Rs 902-949, policyholders to get Rs 60 discount

The LIC IPO will open on May 4 and close on May 9. The IPO is entirely an offer for sale by the Government of India. LIC will raise Rs Rs 21,257 crore via the IPO. Read more

Bajaj Finance shares tank as investors mourn fewer borrowers and low margin

Bajaj Finance shares suffered sharp losses on Wednesday, a day after the non-banking financial company (NBFC) reported its financial results for the period between January and March. Read more

Rainbow Children's Medicare IPO hits the Street — why analysts are gung-ho about it

Rainbow Children's Medicare - a multi-speciality pediatric, obstetrics and gynaecology hospital chain - launched an initial public offering (IPO) worth up to Rs 1,580 crore on Wednesday. Check details

INDIA

COVID-19 threat not over; vaccination of all eligible children at earliest priority for govt: PM Modi

Prime Minister Narendra Modi on Wednesday emphasised that the threat of coronavirus is not fully gone yet and COVID vaccine is the biggest protective shield against the virus. Read more

Maharashtra likely to reimpose wearing of masks in public places

Maharashtra Public Health Minister Rajesh Tope on Friday said there was no need to panic in light of increasing COVID-19 cases across the country, and said the government was likely to reimpose the mask mandate in public places after Chief Minister Uddhav Thackeray's meeting with district collectors later today. Read more

Heatwave conditions in over 10 states of central and northwest India

Heatwave conditions are set to send temperatures soaring from Wednesday in more than 10 states, including Uttar Pradesh, Rajasthan, Madhya Pradesh, Bihar, Jharkhand, and Gujarat, and many more areas including Delhi, Haryana, and Chhattisgarh. Read more

WORLD

Elon Musk explains free speech remark, but jabs 'extreme antibody reaction'

Amid the much-hyped takeover of Twitter and the future of "free speech" on the social media platform, billionaire Elon Musk has clarified his stand on the issue. Here’s what Musk had to say. Check details

Kyiv blames Russia for fuelling tensions after breakaway Moldovan region reports attacks

As the Russia-Ukraine war entered Day 63rd, Ukraine accused Moscow of trying to drag Moldova's breakaway region of Transdniestria into its war on Kyiv. Read more

Beijing focuses on mass COVID testing as fear of Shanghai style lockdown intensifies

The second round of COVID-19 testing in Beijing's largest district began on Wednesday, with this week's campaign to screen most of the Chinese capital's 22 million residents, so far detecting less than three dozen new infections a day. Read more

YOU & I

FAQs: I’m a LIC policyholder. What’s in the IPO for me?

After a long wait, India’s largest insurer Life Insurance Corporation of India (LIC) is finally going to hit the market with an initial public offering (IPO) next month. Here are some frequently asked questions (FAQs) by the LIC policyholders about the public offer. Check details

iPhone 12 at massive discount on Amazon, Flipkart: Here’s how to buy it for Rs 44,000

Looking to buy iPhone? E-commerce giants Flipkart and Amazon are offering massive discounts on various models of the iPhone 12. Here’s how you can buy it for Rs 44,000. Check details

(Edited by : Priyanka Deshpande)