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InsurTech firm ACKO drives into car repair and service space
ACKO, the Bengaluru-based insurtech firm, is expanding into car servicing and repair with its ACKO Drive Service Centres, targeting cars out of warranty. Initially launched in Bengaluru, plans include centres in Delhi, Mumbai, Pune, Hyderabad, Ahmedabad, and Chennai. Aiming to reach 100 centres in three years, ACKO seeks to capitalize on the growing $25 billion car service market.
Headwinds of high FPI exposure, but good for long term: 6 stocks the financial services sector with an upside potential of up to 25 %
One of the most intriguing aspects of presenting the return performance of stocks, or any asset class for that matter, is how a slight adjustment in the calculation date can dramatically alter the perception, making the glass appear either half full or half empty. This phenomenon is particularly evident in the case of financial service stocks. Recently, these stocks have often been portrayed as underperformers. However, this overlooks the fact that over the long term, they have provided substantial returns and generated significant wealth. The short-term underperformance of these stocks can be attributed to their heavy ownership by Foreign Portfolio Investors (FPI). As FPIs have been net sellers in Indian equities, financial service stocks have faced selling pressure. Nevertheless, the relative decline in stock prices is considerably less severe than in previous instances of similar selling activity. Given the robust fundamentals of these stocks compared to a few years ago, it is prudent to view them from a long-term investment perspective.
Weekly Top Picks: These stocks scored 10 on 10 on Stock Reports Plus
Stock Reports Plus, powered by Refinitiv, undertakes detailed company analysis for 4,000+ listed stocks. In addition to detailed company analysis, the report also collates analysts’ forecasts and trend analysis for each component. An average score in Stock Reports Plus is calculated by undertaking quantitative analysis of five key investment tools - earnings, fundamentals, relative valuation, risk and price momentum.
SBI changes gears, links car dealer commissions to their performance
State Bank of India (SBI), the country's largest lender, is set to link the commission it pays to car dealers for sourcing loans to sales, aiming to reduce costs and improve profitability. The revised payout structure will be applicable for all sourcing from June 1. Under the existing structure, dealers would earn a flat 2% commission for loan disbursals ranging from ₹50 lakh to ₹15 crore.
Rewards credit cards with most value-back potential: SBI Card, HDFC Bank, Axis Bank, IDFC First Bank, American Express
Listed below are the best rewards credit cards in India, chosen basis their reward earning rate, redemption value and overall value-back potential across multiple spending categories.
Why you should renew your car insurance policy on time?
Renew car insurance promptly to comply with the law, avoid financial burdens, and maintain benefits like no-claim bonuses. Online services simplify the process, ensuring continuous coverage and hassle-free renewals.
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Safeguarding Your Smart Car: How to secure your connected car from cybersecurity threats
In today's tech-driven era, smart cars are revolutionizing transportation with advanced features aimed at enhancing safety and connectivity. However, this integration of digital systems brings forth cybersecurity concerns, threatening vehicle and occupant safety. Essential strategies include software updates, strong passwords, secure Wi-Fi, and cautious usage of third-party devices.
Digitisation will be key driver for Mahindra Finance, says MD designate
Senior management at Mahindra Finance is witnessing a paradigm shift as vice chairman Ramesh Iyer passes the reins to Raul Rebello at the end of April. Though developing new business models would take some time, analysts believe the company's strong rural reach and financials would be beneficial.
Understanding liability in vehicle insurance: What car and bike owners should know
Choosing the right vehicle insurance in India involves understanding liability coverage, comprehensive plans, and exclusions. ACKO provides tailored coverage, add-ons, and competitive pricing for comprehensive protection and peace of mind.
Latest health and general insurance claim settlement ratio released in 2024
Do you know how good is your insurer is in settling claims and how long it takes for your health or general insurer to settle claims? Or how many claims did they reject last year? It is important to keep track of the claim settlement performance of your insurer. IRDAI has recently released the claim payment details of general and health insurance companies. Check here
These largecaps have ‘strong buy’ & ‘buy’ recos and upside potential of more than 20%
While the under current of the market is still bullish but as corrections and consolidation are part of every bull market, nifty is moving in and out green, there are clear signs of profit booking taking place in the broader market with market breadth not being as positive as it used to be. While the initial part of any volatility is led by large caps, there is a higher probability that the large caps are able to stabilize much before any part of the market. So, if one is thinking of fresh exposure to the market it would be better to stick with large caps. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.
Flight delayed, cancelled due to fog? You can get up to Rs 2 lakh if you have a travel insurance
Flight delayed or cancelled? Hundreds of flights have been delayed from the Indira Gandhi International Airport in Delhi due to low visibility amid dense fog in the last few days. You need to keep in mind that airlines are not obliged to compensate in cases where the cancellation and delay is caused by a force majeure event. Well, if you have bought travel insurance while booking your flight ticket, it may help you if your flight is delayed or cancelled. Here's how
Stocks to buy now: 9 companies that are likely to double their earnings in next three years
The market capitalisation of NSE-listed companies surpassed $4 trillion on 1 December 2023. The benchmark Nifty 50 and MSCI India indices delivered 16% YTD returns, against the MSCI indices of China, Brazil, the UK and Europe, with returns ranging from -15% to 12.3%. The investors’ sentiments are buoyed by the strength of the Indian economy, which is visible from the above-expectation 7.6% GDP growth in the second quarter of 2023. Going forward, the analysts expect reasonable earnings growth, supported by continuing capex programmes of corporate India.
Nitrogen vs. Air: Decoding the best choice for your tyres
Since tyres play a pivotal role in ensuring a smooth and safe driving experience, the decision to opt for nitrogen or stick with air involves important considerations. Read to know which you should select for your tyres
Chennai floods: 4 car insurance add-on covers can help you save thousands due to rain damage. Who should buy?
Unless you have certain specific add-on covers, your insurer will not pay a penny to fix your car engine if damaged due to waterlogging. Add-ons are optional coverage that can be added to a comprehensive car insurance policy to enhance its coverage and provide additional protection. Here are the four add-ons that are a must to protect your car from rain damage.
Chennai flood sweeps away cars: Here's how to insure your vehicle against flood damage
Flood-related damages can encompass engine, gearbox, electric and electronic, and upholstery damage. Repairing or replacing a water-damaged engine alone can cost between Rs 75,000 to Rs 15 lakh.
Up to Rs 5 lakh discounts, other benefits on cars this month: How to get the best deal for your next car
The festive season could be the right time to purchase as several companies offer discounts and attractive deals now. Moreover, you will get reduced interest rates on car loans from various lenders at this time. It may sound exciting on paper but could be a bit daunting in reality. Read on to find out how you can make the most of the festive season deals on cars.
How Tesla's India entry will disrupt desi tardy electric car market
Elon Musk's Tesla is likely to enter the Indian market next year, as the Prime Minister's Office directs relevant departments to expedite Tesla's investment plans by January 2024. This move marks a significant development for India's automotive sector, the world's third-largest market. Tesla's entry will initially involve fully built-up car imports, sparking discussions about potential advantages from lower import duties for the American company compared to domestic electric car manufacturers.
Factors to check when comparing car loans this Dhanteras, Diwali
If you are considering opting for a festive season offer to buy a car, then here are a few important factors to look at when comparing car loans.
De-growth in small cars to stagnate the overall market next fiscal: RC Bhargava
Maruti Suzuki India Ltd anticipates a stagnant domestic car market in the upcoming fiscal year due to a lack of revival in the small car segment, which is essential for growth, and this stagnation is expected to persist for the next two to three years. R.C. Bhargava, the Chairman of Maruti Suzuki India, expressed the industry's pessimism regarding industry's overall growth, primarily attributing it to the decline in the small car segment.
What are the best investment instruments for senior citizens? Hemant Sood answers
Hemant Sood, MD of Findoc, recommends the top investment instruments for senior citizens as NPS, Atal Pension Yojana, and Pradhan Mantri Vaya Vandana Yojana. These schemes offer low-risk or zero-risk investments backed by the government of India. The returns range from 6-7%, with regular interest payments. However, the regular monthly income from these schemes is taxable. Senior citizens should consider tax-efficient investment instruments, such as those linked with insurance, for long-term schemes.
Save up to 25% on this car insurance premium if you are a good driver; here's how to get it
Do you think you are a good driver? Zuno General Insurance has introduced Zuno Driving Quotient, a unique way to score how you drive. The better you drive, the better your score will be, and the lower you will have to pay for your car insurance. Know how Zuno Driving Quotient will work and how you can get it and lower your next motor insurance premium.
Want to borrow money? Smart tips to get the best personal loan, home loan
ET Wealth looks at smart ways to borrow and offers tips to those planning to take a loan. We also tell you about the tricks that lenders use to lure customers. Here are some things to keep in mind while borrowing money.
How to save Rs 1 crore for your child's education, marriage in 20 years
How to build an emergency corpus, buying a car and a house, saving for his child’s education and wedding, and for retirement. Financial planner Anupam Guha from ICICI Securities suggests tips based on a personal investment portfolio
Navigating on-the-road peace: The comprehensive car insurance solution by Bajaj Allianz General Insurance
Bajaj Allianz General Insurance Comprehensive Car Insurance stands out for its high claims settlement ratio and hassle-free renewals.
Car loan may not be the best option to buy a used car; consider these ways instead
There are a good number of buyers who go for a second-hand car. Cost-effectiveness is, of course, a major factor. A two-year-old vehicle can be 20-30 per cent cheaper than a new one. Most car companies have their pre-owned divisions, and several banks and non-banking financial companies (NBFCs) offer lucrative rates and deals. So should you opt for an auto loan to buy a pre-owned car?
You can save 20% on car insurance premium if you buy Pay As You Drive; who should opt for it?
The 'Pay As You Drive' insurance product is a comprehensive own damage (OD) plus third party (TP) policy. There are two basic types of ‘Pay As You Drive’ policies — one is based on the kilometers driven and the other is the number of days the insurance policy is on, said experts. Who should opt for 'Pay As You Drive' insurance? ET Wealth Online explains
How to get the best resale price for your car
Some simple tips can help you get a better deal when your sell your vehicle.
Automatic v/s Manual: Here’s how gear operation affects car insurance premium
The manufacturer, model, and attributes of the car are some other criteria that affect the cost of auto insurance.
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