Every Monday, Mint’s Plain Facts section has major data releases and events to watch over the coming week. Life Insurance Corporation of India, the country’s largest insurer, will get listed this week after positive vibes from the initial public offering. The minutes of the unexpected meeting of the Reserve Bank of India (RBI) earlier this month will be released. The French Open will start this week. Here’s more:
1. LIC Listing
LIC is set to be listed on BSE and National Stock Exchange on Tuesday. The share allotment was finalized on Thursday after nearly three times oversubscription at the time of the close of the IPO. The company’s policyholders and employees were the most enthusiastic, with their share being subscribed more than six and four times respectively. However, the reaction in the gray market turned slightly negative, suggesting that there may be a listing at a price lower than the price band. For regular investors, the price was fixed 902-949 per share. Market experts are still positive due to the company’s large market share, profitability and growth prospects.
Even after the government reduced the offer size due to market volatility, it was the largest IPO ever in the country. the goal of the government is to generate 21,000 crore after liquidating its 3.5% stake.
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2. RBI Minutes
With many central banks withdrawing their ultra-lax monetary policies, the RBI risks falling behind the curve if it delayed rate hikes too much. After finally acknowledging inflation risks in April, growth at the June meeting looked imminent. However, in a surprise move, the Monetary Policy Committee (MPC) held an off-cycle meeting on May 4, and hiked the policy repo rate by 40 basis points, leaving analysts confused as to the reasons behind an unscheduled meeting. get left. Now all eyes are on releasing the minutes of that meeting to be held on Wednesday to know the reasons behind this move. A worrying development between the April meeting and the off-cycle meeting earlier this month were the retail inflation figures for March, which came in at 6.95%. The inflation rate of 7.79% in April has added to the concerns. The MPC would not want inflation to remain above 6% for a long time.
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3. Bharti Airtel Earnings
India’s second largest telecom company Bharti Airtel will announce its earnings for the quarter ended March and the last financial year on Tuesday. While the company’s net profit rose 22.3% year-on-year in the third quarter of fiscal 2012, it fell 17% sequentially. However, its Average Revenue Per User (ARPU) registered an increase on a quarter-on-quarter basis.
Brokerage firms expect the company to report a strong performance in the March quarter as the tariff hike will be reflected in its earnings in November-December. According to JPMorgan, its net profit is expected to grow 7% on a sequential basis. Its ARPU is also expected to increase further.
The tariff hike by all telcos has hurt competitors’ mobile subscriber base, but not Bharti Airtel. If this trend continues, the company may register strong growth on account of increased tariffs and more customers. The company is expected to carry its monthly ARPU 200 per month in 2022.
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4. French Open
The French Open, the second Grand Slam of the year, begins in Paris on Sunday. In women’s singles, Poland’s Inga Swietek is a strong contender. Recently crowned world no. 1 have won four consecutive titles in the last two months and are on a winning streak of 23 matches. She could face a tough challenge from Tunisia’s Ons Jabur, who has won two titles this year, including the Madrid Open, in which Sweetek did not participate. If Sweetek wins the title, she will move to fourth place in the longest winning streak in singles.
Among the men, defending champion Novak Djokovic, who was cleared to play as France eased its vaccine mandate, will be pursuing his 21st Grand Slam singles title. But to do so he may have to beat tournament legend Rafael Nadal again, which is a tall order. A surprise may also be on the cards in the form of Carlos Alcaraz, 19.
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5. Check Your BP
May 17, designated as World Hypertension Day, is an official occasion to create awareness about high blood pressure, the world’s biggest killer. Around 1.3 billion adults aged 30-79 years suffer from it in the world. About half of them are unaware of their condition because they have not been diagnosed, and 700 million are untreated. High blood pressure makes it harder for the heart to pump blood, which increases the risk of heart, brain, kidney and other diseases. Over the past three decades, the prevalence of hypertension has decreased in wealthy countries but increased in middle- and low-income countries.
According to the latest National Family Health Survey, in line with the global trend, every fourth man and one fifth woman aged 15 years and above in India has high blood pressure. But only 2.9% and 5.6% of these men and women are taking medication to lower their blood pressure and keep it under control.
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