June 8, 2023

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LIC listing today to India getting new warships: Here’re top news on May 17

LIC listing today to India getting new warships: Here’re top news on May 17

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India will on Tuesday launch two indigenously constructed frontline warships, marking a substantial advancement for the navy. Primary Minister Narendra Modi will address the silver jubilee celebrations of TRAI, the country’s telecom regulator. Lifestyle Insurance policies Company will list its shares at the inventory exchanges following a blockbuster preliminary public giving. The Indian embassy in Kyiv, the capital of war-torn Ukraine, is all established to reopen.

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Right here are the major 5 developments for May 17.&#13
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Rajnath Singh to launch frontline warships

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Defence Minister Rajnath Singh will, on Tuesday, start two indigenously-designed frontline warships of the Indian Navy. The inauguration will take position at the Mazagon Docks in Mumbai.

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The two warships, that are to be introduced, are referred to as Surat and Udaygiri. Surat, named immediately after the bustling port metropolis in Gujarat, is the fourth and last of stealth destroyers under the Venture 15B program. Udaygiri, on the other hand, is named soon after a mountain selection in Andhra Pradesh. It is the third of Challenge 17A frigates.

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PM Modi to tackle silver jubilee celebrations of TRAI

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Prime Minister Narendra Modi will tackle a application marking the 25th-anniversary celebrations of the Telecom Regulatory Authority of India (TRAI) at 11 am on Tuesday. The PM will go to the method by way of video clip conferencing.

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According to a press release from the Key Minister’s Place of work, he will also release a postal stamp to commemorate the occasion. Modi will also start a 5G Exam Bed at the software. The undertaking, produced by 8 institutes led by IIT-Madras, charge more than Rs. 220 crore.

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LIC to record on bourses

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Point out-owned Everyday living Insurance Corporation (LIC) is established to checklist its shares on stock exchanges on Tuesday. The shares will be mentioned on the Bombay Stock Exchange (BSE) and the Countrywide Stock Exchange (NSE).

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LIC’s hugely-expected initial public presenting (IPO), which lasted from Might 4 to May perhaps 9, was subscribed 2.95 times. Through the IPO, the governing administration marketed a 3.5% stake in the country’s biggest insurance provider. Immediately after the listing, LIC is set to become the fifth-major organization in India valued around Rs. 6 lakh crore.

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Paradeep Phosphates to start Rs 1,500 cr IPO

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Paradeep Phosphates, a leading fertilizer maker in the non-public sector, will start its IPO on Tuesday. The selling price band for the supply has been fixed concerning Rs. 39-42 for each fairness share with the encounter worth of Rs. 10 every single. The present subscription closes on May 19, and the business aims to obtain Rs. 1,500 crore via it.

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Set up in December 1981, Paradeep Phosphates is generally engaged in the manufacturing, trading, distribution, and sale of a variety of fertilizers, and ranks as the 2nd-greatest non-public maker of non-urea fertilizers and Di-Ammonium Phosphates.

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Indian embassy in Kyiv to reopen

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The Indian embassy in the Ukrainian cash Kyiv will reopen on Tuesday, months just after its operations were shifted abroad thanks to Russia’s offensive towards its neighbour.

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On March 13, the Indian embassy relocated to Warsaw in Poland in the wake of Russia’s invasion of Ukraine, which began on February 24. Extra than a dozen nations have given that made a decision to reopen their embassies in Ukraine.

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