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<ul><li>To boost investment from its army of policyholders, LIC has created a policyholder quota under which those holding a policy of LIC can apply under the special quota and avail some discounts.</li><li>Policyholders, who want to bid under the reserved quota, have been asked to link their policy with PAN number.</li><li>Today, February 28, is the last day to link the PAN number with policy.</li></ul>LIC’s initial public offering (IPO), the biggest public issue in India’s history, has created a lot of buzz in the market and is expected to open in March. The insurance major’s IPO comes with a number of perks for people who own insurance policies of the company. LIC has about 29 crore policyholders and dominates with a market share of 74.6% in terms of a number of individual policies issued in FY21. The IPO is selling about 31.6 crore shares or 5% of the government's stake. LIC has created a reservation quote for policyholders and employees wherein such investors will get a discount on the issue price. However, to apply under the reserved policyholder quota, policyholders need to link their PAN with policy by February 28. Here are the steps to complete, if you have an LIC policy and willing to apply to the <keyword id="7922409" type="General" weightage="20" keywordseo="lic-ipo" source="Orion">LIC IPO</keyword>: Process to link your PAN details with the LIC: <ul><li>Visit LIC website <a href="http://www.licindia.in/">www.licindia.in</a> OR <a href="https://licindia.in/Home/Online-PAN-Registration">https://licindia.in/Home/Online-PAN-Registration</a></li><li>Keep your policy number ready, PAN, date of birth and e-mail ID, which needs to be filled in while updating your PAN.</li><li>You may update the records for all of your LIC policies using the above link.</li><li>You can also check whether your PAN Is registered in your policy or not by visiting the Corporation's website <a href="http://www.licindia.in/">www.licindia.in</a> OR <a href="https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus">https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus</a>?</li><li>Alternatively, you may also contact your LIC Agent for assistance.</li></ul>All policies that have not exited LIC’s records by way of maturity, surrender or by way of death of the policyholder are eligible for policyholder reservation. To apply under the special quota the policy should have been issued on or before the date when LIC’s draft red herring prospectus (DRHP) was filed, that is February 13. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/indian-startups-like-dunzo-swiggy-dealshare-raised-8-billion-in-january-and-february-2022/articleshow/89890583.cms">Indian startups raised around $1 billion a week in January and February</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/tinder-bumble-quack-quack-were-the-popular-dating-apps-in-india-in-feb-2022-month/slidelist/89889436.cms">Quack Quack was downloaded more than Tinder, Bumble this Valentine’s day</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/as-long-as-mukesh-ambani-is-there-to-rescue-the-market-doesnt-care-about-future-retails-financial-stress/articleshow/89886569.cms">As long as Mukesh Ambani is there to rescue, the market doesn't care about Future Retail's financial stress</a>

LIC IPO: Last day to link PAN to apply under policyholder reservation; here’s how to do it

<ul><li><keyword id="7922409" type="General" weightage="20" keywordseo="lic-ipo" source="Orion">LIC IPO</keyword> is selling about 31.6 crore shares or 5% of the government's stake till the end of March.</li><li>To boost investment from its army of policyholders, LIC has reserved 10% shares from the total issue size for such investors.</li><li>LIC has a market share of 74.6% in terms of a number of individual policies issued in FY21.</li></ul>The government is all set to sell a small chunk of its shareholding to list the largest life insurer, Life Insurance Corporation of India (LIC). The initial public offering (IPO) comes with a number of perks for people who own insurance policies of LIC. LIC has about 29 crore policyholders and dominates a market share of 74.6% in terms of a number of individual policies issued in FY21. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">LIC IPO </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shares for offer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">31.6 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Embedded value </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5.4 lakh crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Listing at </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BSE, NSE </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Government pre holding in LIC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">100% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>LIC has created a reservation quote for policyholders and employees wherein such investors will get a discount on the issue price. 10% reservation for policyholders along with some discount LIC has reserved 10% of the issue size for its army of policyholders and also plans to give some discount to such investors in the IPO. Not only policyholders, employees of the insurance company also have a quote for themselves with 5% of issue size reservation. “Policyholders may get a 10% discount on issue price,” Anshuman Khanna, Director at Value Prolific Consulting Services (ValPro) told Business Insider. Suppose the issue price of LIC IPO is ₹1,500 then the policyholder may get at ₹1,350 per share, which will give them an additional upside, said Khanna. Cap on investment Investors holding LIC policy cannot exceed their investment more than ₹2 lakh as most of such investors also come under the retail category. Such investors can bid under the ‘Policyholder Reservation Portion’ through the applications supported by blocked amount (ASBA) and the UPI mechanism. Mandatory to link PAN and have a demat account Only policyholders who have updated their PAN by February 28, 2022 can apply under policyholder's quota. Process to link your PAN details with the LIC: <ul><li>Visit LIC website <a href="http://www.licindia.in/">www.licindia.in</a> OR <a href="https://licindia.in/Home/Online-PAN-Registration">https://licindia.in/Home/Online-PAN-Registration</a></li><li>Keep your policy number ready, PAN, date of birth and e-mail ID, which needs to be filled in while updating your PAN.</li><li>You may update the records for all of your LIC policies using the above link.</li><li>You can also check whether your PAN Is registered in your policy or not by visiting the Corporation's website <a href="http://www.licindia.in/">www.licindia.in</a> OR <a href="https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus">https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus</a>?</li><li>Alternatively, you may also contact your LIC Agent for assistance.</li></ul>Joint life policy holders If you own a joint policy of LIC, then only one of the policy members can apply under the ‘Policyholder Reservation Portion’ category. The PAN number of the applicant bidding in the offer (you or your spouse) needs to be updated while linking the PAN. Also, the policy member applying for the IPO has to have a demat account in his/ her name and in case the demat account is joint, the applicant needs to be the first /primary holder of the demat account. Eligible policies All policies that have not exited LIC’s records by way of maturity, surrender or by way of death of the policyholder are eligible for policyholder reservation. Applied for LIC policy recently but did not receive policy document If you have applied for a LIC policy but are yet to receive the policy document, in that case, the draft red herring prospectus (DRHP) states that the policy should have been issued on or before the date when the DRHP was filed on February 13. No lock-in period Policyholders who were allotted equity shares under the reservation category can sell the shares anytime as per their choice. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/reliance-industries-adani-enterprises-future-retail-vedanta-and-other-hot-stocks-on-february-15/slidelist/89580792.cms">Reliance Industries, Adani Enterprises, Future Retail, Vedanta and other hot stocks on February 15</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/russias-new-crypto-law-is-less-than-a-week-away-heres-what-we-know-so-far/articleshow/89582403.cms">Russia's new crypto law is less than a week away — Here’s what we know so far</a>

These are the discounts and perks LIC policyholders will get while applying for the IPO

<ul><li>LIC has carried out advertisements in newspapers asking policyholders to keep their PAN and demat account updated and ready before the IPO.</li><li>The government has been making constant efforts to launch the <keyword id="7922409" type="General" weightage="20" keywordseo="lic-ipo" source="Orion">LIC IPO</keyword>.</li><li>The IPO reportedly could garner between ₹40,000 crore to ₹1 lakh crore from the IPO, which may help in reducing the gap between government’s income and expenditure.</li></ul>India’s largest insurance company Life Insurance Corporation (LIC), on Wednesday, released advertisements in newspapers asking insurance policyholders to keep their PAN and demat account updated and ready before the initial public offering (IPO). According to several reports, the IPO is expected to launch between January to March 2022 and raise up to ₹1 lakh crore. A<a href="https://www.bloombergquint.com/business/banks-to-reach-anchor-investors-for-lic-ipo-after-paytm-delay"> Bloomberg </a>report said that the government could raise between ₹40,000 crore to ₹1 lakh crore that will help plug a widening budget gap. The government may sell 5%-10% stake in the company as part of divestment plans and even allow foreign direct investment to ensure diversified and strong demand. There is speculation that LIC might reserve 10% of the issue size for its policyholders, which means policyholders might have an edge in the IPO allotment. <a href="https://www.businesstoday.in/markets/ipo-corner/story/lic-hand-holds-its-25-cr-policyholders-in-opening-demat-accounts-ahead-of-ipo-314029-2021-12-01">Reportedly</a>, there are about 6 crore demat accounts in the country and 25 crore customers of LIC, which is why LIC is asking its customers a.k.a policyholders to open a demat account. Note that people who do not own a LIC policy can also apply for the IPO. Here are the steps to complete, if you have an LIC policy and willing to apply to the LIC IPO: Process to link your PAN details with the LIC: <ul><li>Visit LIC website <a href="http://www.licindia.in/">www.licindia.in</a> OR <a href="https://licindia.in/Home/Online-PAN-Registration">https://licindia.in/Home/Online-PAN-Registration</a></li><li>Keep your policy number ready, PAN, date of birth and e-mail ID, which needs to be filled in while updating your PAN.</li><li>You may update the records for all of your LIC policies using the above link.</li><li>You can also check whether your PAN Is registered in your policy or not by visiting the Corporation's website <a href="http://www.licindia.in/">www.licindia.in</a> OR <a href="https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus">https://linkpan.licindia.in/UIDSeedingWebApp/getPolicyPANStatus</a>?</li><li>Alternatively, you may also contact your LIC Agent for assistance. </li></ul>SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/international-flights-from-india-will-not-be-resuming-on-december-15-due-on-concerns-of-new-covid-19-variant/articleshow/88029203.cms">International flights from India will not be resuming on December 15 due on concerns of new COVID-19 variant</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/investment-platform-upstox-comes-up-with-quick-ipo-application-process-through-whatsapp/articleshow/88025420.cms">Investment platform Upstox comes up with quick IPO application process through Whatsapp</a>

Do you own an LIC policy? Here is how you can link your PAN before applying for the LIC IPO

<ul><li>Indian auto companies are looking at mixed demand momentum after making merry post the festive season boost in October.</li><li>The festive boost last month lifted the number of registrations across the passenger vehicles (PV), commercial vehicles (CV) and tractors segments in the range of 35-66% when compared to October 2019.</li><li>However, PV sales are off to a slow start in the marriage season in November, despite an increase in discounts.</li><li>Two-wheeler registrations are also still below pre-Covid levels, but the urban markets are driving the demand for scooter and premium motorcycles, say analysts.</li></ul>Indian auto companies are looking at mixed demand momentum after making merry post the festive season boost in October. Retail data suggests that trends remain mixed across segments like two-wheelers, passenger vehicles, and commercial vehicles. The<a href="https://www.businessinsider.in/business/auto/news/indian-car-makers-drive-the-festive-boom-two-wheelers-showing-signs-of-revival/articleshow/95257140.cms"> festive boost in October</a> lifted the number of registrations across the passenger vehicles (PV), commercial vehicles (CV) and tractors segments in the range of 35-66% when compared to October 2019, according to a report by Jefferies. While the marriage season has set in now, a report by Yes Securities states that passenger vehicles are off to a slow start in November despite an increase in discounts compared to October. Commercial vehicles are also seeing an increase in inventories across companies, the report stated, adding “Large fleet operators have staggered their delivery schedules while retail customers' contribution is yet to come in full swing.” <cmsannotation type="cmsannotation" annotationid="Two-wheeler registrations still below pre-Covid levels" comment="subhead" text="Two-wheeler registrations still below pre-Covid levels">Two-wheeler registrations still below pre-Covid levels</cmsannotation> Two-wheeler registrations are still below pre-Covid levels, with Hero MotoCorp and TVS Motors expected to report a sequential decline in sales in the range of 14.2-17.9%, according to Yes Securities. In October, an Elara Securities<a href="https://www.businessinsider.in/business/auto/news/indian-car-makers-drive-the-festive-boom-two-wheelers-showing-signs-of-revival/articleshow/95257140.cms"> report</a> stated that Hero MotoCorp reported a 17% decline in its overall sales, while Bajaj Auto reported a 10% decline. The only gainer was TVS Motors, which reported a 1.5% increase year-on-year. Now, according to Yes Securities, overall two-wheeler retail sales could decline between 5-8% in November when compared to October. On a year-on-year basis, though, it notes that there could be flat to high-single digit growth. “Compared to the past few months, 2W demand saw some bounce back during this festive season. However, the registrations were far from reaching the pre-pandemic levels in 2019,” said Nikunj Sanghi, former president, Federation of Automobile Dealers Associations of India (FADA). <cmsannotation type="cmsannotation" annotationid="Marriage season off to a slow start, SUVs perform relatively better" comment="subhead" text="Marriage season off to a slow start, SUVs perform relatively better">Marriage season off to a slow start, SUVs perform relatively better</cmsannotation> The Yes Securities report observes that the trend of entry-level cars struggling has continued through November. Additionally, hatchbacks are also seeing a slow uptake from customers. Sports utility vehicles (SUV), on the other hand, are seeing relatively better demand. However, companies are still facing supply chain issues, which is hampering their overall sales. “PVs are still facing supply challenges in premium variants impacting overall model mix at retail level,” the report stated. <cmsannotation type="cmsannotation" annotationid="Higher discounts on entry-level cars as inventory builds up" comment="subhead" text="Higher discounts on entry-level cars as inventory builds up">Higher discounts on entry-level cars as inventory builds up</cmsannotation> Car makers are now offering higher discounts on entry-level cars as they attempt to reduce the inventory build-up, which has now increased to over 15 days, according to the Yes Securities report. For instance, <keyword id="44883" type="General" weightage="20" keywordseo="Maruti-Suzuki" source="Orion">Maruti Suzuki</keyword> has increased discounts in the range of ₹5,000-10,000, while Tata Motors is offering up to ₹10,000-15,000 more discounts in November, when compared to October. Overall, Maruti Suzuki, Tata Motors, and Mahindra &amp; Mahindra are offering discounts and benefits in the range of ₹28,000-65,000, depending on the car being bought. <cmsannotation type="cmsannotation" annotationid="Rural recovery signs visible" comment="subhead" text="Rural recovery signs visible">Rural recovery signs visible</cmsannotation> Rural India, a critical market especially for two-wheeler and tractor makers, is showing signs of a recovery, according to analysts at Motilal Oswal. “Rural recovery resulted in a healthy 26% and 30% YoY growth in 2W and tractor retails during festive season, respectively, even as secondary 2W dealers (mainly non-urban) saw strong demand revival,” the research firm said. The firm noted that despite the demand revival in the festive season, “full normalcy is yet to be achieved.” It added that urban markets continue to see better demand than rural markets, which reflects in the scooter and premium motorcycle segments’ growth. For instance, Royal Enfield’s Hunter 350, a premium motorcycle, has seen its waiting period increase from 1 month to 2.5-3 months, with dealer confidence seeing a sharp increase. “Channel partners we spoke to are indicating high confidence post launch of Hunter with their volumes are ~15% lower than FY18 levels but are back to FY19 levels,” the Yes Securities report stated. <cmsannotation type="cmsannotation" annotationid="Tighter cash flows and slower uptake leading to inventory build-up of trucks" comment="subhead" text="Tighter cash flows and slower uptake leading to inventory build-up of trucks">Tighter cash flows and slower uptake leading to inventory build-up of trucks</cmsannotation> Commercial vehicles like trucks continue to witness an inventory build-up, with the key market of the northern belt witnessing under-utilisation, according to Yes Securities. Making matters worse and adding to the uncertainty is the ban on construction activities in the Delhi-NCR region, and schools being shut due to pollution. This has impacted the demand for both buses and trucks, according to analysts. According to Yes Securities, tighter cash flows due to an increase in working capital requirements, customers have delayed delivery plans of booked vehicles, adding to the build-up of inventories. <div type="javascript" title="Custom" contenttype="Text"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/indian-car-makers-drive-the-festive-boom-two-wheelers-showing-signs-of-revival/articleshow/95257140.cms">Indian car makers drive the festive boom, two-wheelers showing signs of revival</a> <a href="https://www.businessinsider.in/stock-market/news/a-year-after-market-debut-paytm-is-the-worst-performer-among-recent-large-ipos-cartrade-policybazaar-and-lic-join-the-party/articleshow/95762071.cms">A year after market debut, Paytm is the worst performer among recent large IPOs – Cartrade, Policybazaar and LIC join the party</a> <a href="https://www.businessinsider.in/stock-market/news/india-vix-cools-down-to-pre-covid-levels-heres-why-and-where-it-is-headed/articleshow/95743166.cms">India VIX cools down to pre-Covid levels – here’s why and where it is headed</a>

Mixed demand trends for autos in November as festive boost wears off but signs of rural recovery visible

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> overcame<a href="https://www.businessinsider.in/stock-market/news/indian-markets-open-lower-amid-unrest-in-china-over-zero-covid-paytm-adani-transmission-hero-motocorp-in-focus/articleshow/95815834.cms"> early-morning jitters</a> to scale <a href="https://www.businessinsider.in/stock-market/news/nifty50-hit-new-all-time-highs-bharat-petroleum-reliance-industries-surge-metal-stock-drag/articleshow/95822928.cms">new peaks</a> – at 62,701 and 18,614 respectively. </li><li>Both the indices also registered new record closings on Monday. </li><li>Bharat Petroleum and <keyword id="6355199" type="General" weightage="100" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> emerged as the top gainers on the Nifty50, adding ₹62,700 crore in market capitalisation. </li><li>A cool down in crude oil prices, healthy flows in SIPs and resilient performance by India Inc in Q2 are some of the factors driving the indices, analysts said. </li><li>Analysts recommend investors remain disciplined and balanced in their approach to equity investments, instead of making any extreme movements. </li></ul>India’s benchmark indices Sensex and Nifty50 came off new life-time peaks to close higher on Monday, buoyed by the oil and gas sector while shrugging off negative cues from Asian markets. State-run Bharat Petroleum (<keyword id="44555" type="General" weightage="80" keywordseo="bpcl" source="Orion">BPCL</keyword>) and Reliance Industries emerged as the top gainers, while metal stocks dragged. The Sensex and the Nifty50 overcame<a href="https://www.businessinsider.in/stock-market/news/indian-markets-open-lower-amid-unrest-in-china-over-zero-covid-paytm-adani-transmission-hero-motocorp-in-focus/articleshow/95815834.cms"> early-morning jitters</a> to scale <a href="https://www.businessinsider.in/stock-market/news/nifty50-hit-new-all-time-highs-bharat-petroleum-reliance-industries-surge-metal-stock-drag/articleshow/95822928.cms">new peaks</a> – at 62,701 and 18,614 respectively, making it the fifth consecutive day of gains. The indices outperformed Asian markets and closed up 0.27-0.34% higher – marking a record high closing for the Sensex and the Nifty50 at 62,505 and 18,563 points, respectively. Amongst the key triggers driving the indices are a cool down in crude oil prices, healthy flows in systematic investment plans (SIP), and resilient performance by India Inc in Q2, analysts said. Brent crude oil prices were hovering around $81 per barrel, falling 3.2% today on worries about demand from China as the country sees a rise in Covid-19 cases. “Nifty clocked fresh all-time highs on November 28 going against the global cues. Progressive and prudent macro policies, resilient corporate earnings in Q2FY23, robust tax collections, early signs of recovery in IIP and GDP and first signs of cooling inflation have all excited investors including FPIs (foreging portfolio investors) to keep pumping money into the markets,” said Deepak Jasani, head of retail research, HDFC Securities. Amongst the major sectoral gainers were fast moving consumer goods (FMCG), auto and PSU banks. While the IT sector was amongst the top gainers earlier in the day, it closed marginally in the red. Metal stocks lost shine today, with the index declining 1.14%. The Rupee closed flat at 81.66, against 81.68 on Friday. Bharat Petroleum, Reliance Industries, Hero MotoCorp, Tata Consumer, and SBI Life were the top gainers on the Nifty50 index today – gaining between 1.84% to 5.04%. Bharat Petroleum and Reliance Industries together added ₹62,700 crore in market capitalisation. Here are the top gainers and losers on the Nifty500 index on Monday: <div type="image" title="daily-profit-loss-5" msid="95830090" hostid="261" sizebytes="51130"></div> <cmsannotation type="cmsannotation" annotationid="Analysts recommend discipline and balance" comment="subhead" text="Analysts recommend discipline and balance">Analysts recommend discipline and balance</cmsannotation> Analysts recommend investors remain disciplined and balanced in their approach to equity investments, and refrain from making any extreme movements. “Indian markets are defying global weakness and touching all-time highs. This is on the back of renewed interest from foreign institutional investors as the Indian decoupling story continues to play out. However, one must also realise that as we continue to see better growth rates than the world, our valuations too are priced at those premiums,” said Srikanth Subramanian, CEO, Kotak Cherry. On the BSE, advances outnumbered declines – 1,185 stocks ended higher while 815 closed in the red. <cmsannotation type="cmsannotation" annotationid="Asian markets see red" comment="subhead" text="Asian markets see red">Asian markets see red</cmsannotation> Most of the major Asian markets declined on Monday, with Hong Kong’s Hang Seng index posting the biggest decline at 1.57% and Taiwan’s TWSE Capitalization Index posting a 1.5% fall. The Shanghai Composite Index closed 0.75% in the red, while South Korea’s KOSPI fell 1.21%. “Global stock markets traded lower after a series of protests in China over the weekend, against strict mobility restrictions to combat the country’s ongoing Covid outbreak, hit sentiment and threatened to weigh on economic activity,” Jasani said. <cmsannotation type="cmsannotation" annotationid="Buoyant festive demand, cooling crude oil prices amongst tailwinds for Indian economy" comment="subhead" text="Buoyant festive demand, cooling crude oil prices amongst tailwinds for Indian economy">Buoyant festive demand, cooling crude oil prices amongst tailwinds for Indian economy</cmsannotation> According to Ajay Menon, MD and CEO, broking and distribution, Motilal Oswal, the buoyancy in festive demand, which has boosted the auto sector among others, is expected to continue thanks to the marriage season. This year’s festive season was also the first uninterrupted one since 2020, giving buyers enough reason to splurge. For instance, the auto sector has seen <a href="https://www.businessinsider.in/business/auto/news/indian-car-makers-drive-the-festive-boom-two-wheelers-showing-signs-of-revival/articleshow/95257140.cms">registrations</a> of passenger vehicles, commercial vehicles and tractors for October rise 35-66% from the 2019 levels. On the jobs front, too, around 4,000 openings were posted every day during the festive season, which saw the<a href="https://www.businessinsider.in/careers/news/over-2-lakh-jobs-created-each-day-this-festive-season-says-report/articleshow/95204035.cms"> creation of 2 lakh jobs</a>. Foreign institutional investors (FII) were net buyers on Monday, ploughing in ₹936 crore, while domestic institutional investors (DII) bought equities worth ₹88 crore. <div type="image" title="sectoral-indices-5" msid="95830105" hostid="261" sizebytes="49266"></div> SEE ALSO: <a href="https://www.businessinsider.in/personal-finance/news/digital-lending-platforms-see-3x-year-on-year-rise-in-disbursals-to-14016-crore-in-q2-fy23/articleshow/95821140.cms">Digital lending platforms see 3x year-on-year rise in disbursals to ₹14,016 crore in Q2 FY23</a> <a href="https://www.businessinsider.in/stock-market/news/a-year-after-market-debut-paytm-is-the-worst-performer-among-recent-large-ipos-cartrade-policybazaar-and-lic-join-the-party/articleshow/95762071.cms">A year after market debut, Paytm is the worst performer among recent large IPOs – Cartrade, Policybazaar and LIC join the party</a> <a href="https://www.businessinsider.in/stock-market/news/india-vix-cools-down-to-pre-covid-levels-heres-why-and-where-it-is-headed/articleshow/95743166.cms">India VIX cools down to pre-Covid levels – here’s why and where it is headed</a>

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