BUSINESS SEGMENTS
Ola Electric’s Bhavish Aggarwal takes a swipe at ‘cute’ Ather Rizta ads
Ola Electric's Bhavish Aggarwal criticizes Ather Energy's marketing approach for new scooter Rizta. He advises focusing on supply chain and technology to reduce product costs. Ola Electric leads in electric scooter sales in India.
HNIs looking to diversify warm up to private credit funds
High net-worth individuals are increasingly turning to private credit funds due to the removal of tax benefits for debt mutual funds. This shift reflects a growing interest in fixed-income options among the affluent segment.
Gross written premiums of general insurers up 13.3% in Q1
India's general insurance sector saw strong growth with an 8.76% increase in premiums for June and a 13.33% rise for the first quarter, driven by higher demand for motor and health insurance. Companies like ICICI Lombard and Star Health Insurance reported significant gains, especially in retail health and motor segments. However, New India Assurance faced slower growth, losing market share. Overall, the industry's gross premiums reached ₹72,757 crore, reflecting steady expansion and shifting consumer preferences towards comprehensive insurance coverage.
The underlying bias is changing after three years of painful readjustment: These IT stocks can 16 to 38% returns in one year
While it might still not be making it to the headline, there has been a clear change in the stance for IT stocks post election results. After a long phase of underperformance the stocks are making a comeback. Because at this point of time, no one is able to assign any reason why this is happening, so there is no narrative on the street. The fact is that price action precedes the narrative. One bit of positive commentary on Q1 results and there will be no dearth of narratives. Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. SR+ Reports is a complimentary offering to ETPrime members.
Next 5 years may belong to REC & PFC; housing a 25-50-year story: Deven Choksey
REC and PFC are not expensive and given the kind of balance sheet strength that they have created and the kind of liability franchise that they have, these companies would eventually have far better performance to talk about. The next five years could belong to lenders like REC, and PFC in India, says Deven Choksey.
Ather Energy aims to raise market share with foray into family scooter segment
Electric two-wheeler maker Ather Energy aims to boost its market share as it expands into the family scooter segment, according to a company official. The Bengaluru-based company has so far focused on manufacturing sporty scooters.
Adani Airports to chart next decade with $21 billion infusion
The business is housed under wholly owned subsidiary Adani Airport Holdings, which currently owns seven operational airports, in Mumbai, Lucknow, Ahmedabad, Jaipur, Guwahati, Thiruvananthapuram and Mangalore. Phase I of city-side development across 98 acres at airports in Mumbai, Ahmedabad, Jaipur, Lucknow and Guwahati has begun.
RBI's special audit over, IIFL Finance appoints team to implement corrective actions
IIFL Finance, under scrutiny by the RBI for irregularities in its gold loan portfolio, has taken corrective actions to address concerns. RBI directed the company to halt new gold loans due to supervisory concerns and deviations in gold assessment. The company raised capital through rights issues and NCDs to mitigate risks and reported a net profit in Q4.
Sundaram Home Finance launches emerging business segment; Rs 300 cr target disbursal
Expecting it to be a growth driver for the company, Sundaram Home Finance Managing Director and CEO Lakshminarayanan Duraiswamy said he has plans to open around 20 branches in the Emerging Business segment in Tamil Nadu, Telangana and Andhra Pradesh and add another 200 employees.
KEC International shares jump 8% on winning order worth Rs 1,061 crore
KEC International's share price rose by 8% to Rs 829 after securing new orders worth Rs 1,061 crore. The company's YTD order intake is over Rs 3,000 crores, with a growth of 30% compared to last year.
M&M shares surge 3% as BofA upgrades it to Buy, sees 22% upside
BofA Securities believes that the company has multiple growth catalysts that will play out over the next 12-18 months. M&M's core business remains steady with market share gains in the SUV segment and a potential turnaround in the tractor biz.
IFB Industries Q4 Results: Profit at Rs 12 crore
IFB Industries Ltd has reported a consolidated net profit of Rs 12 crore for the fourth quarter ended March 31, 2024, helped by performance from engineering business and home appliances. The company had posted a net loss of Rs 9.94 crore for the year-ago period, according to a regulatory filing on Tuesday.
Economictimes.com holds the throne in April, maintains a comfortable lead in business & financial news segment
The Economic Times website tops April Comscore India rankings with 46.6 million visitors, solidifying its position as the leading source for business news.
LIC thinking of diving into health insurance pool, eyeing acquisitions
LIC is considering entering the health insurance sector, as reported by Times of India, quoting LIC chairman Siddhartha Mohanty. Mohanty stated that LIC is evaluating potential acquisition opportunities in this regard. This move aligns with expectations of the government permitting composite insurance companies in the sector.
Cheaper 5G phones chip away at average prices
Flat Average selling prices (ASP) in the March quarter was largely due to a 22% on-year rise in shipments of mass budget phones priced at $100-200 at 16.3 million units, compared with 13.4 million units a year earlier, marking a resurgence from previous quarters.
Eris Lifesciences Q4 Results: Net profit jumps over 29% to Rs 80 crore
The Ahmedabad-based drug maker reported a net profit of Rs 61.5 crore during the corresponding quarter of the previous year. Revenue of Q4FY 24 grew by 37% YoY to Rs 551 crore. The net debt on March 31 stood at Rs 2700 crore.
Sundaram Home Finance hopeful of continuing growth momentum
Sundaram Home Finance plans to continue its growth momentum in the current financial year by expanding into smaller towns and exploring opportunities in Tier 4 towns in South India. The company, a subsidiary of Sundaram Finance Ltd, is optimistic about the real estate sector's outlook and expects growth momentum to continue. The company has opened 30 exclusive SBL branches in Tamil Nadu, with disbursements of over Rs 125 crore.
IIFL Securities Q4 Results: Profit more than doubles to Rs 180 crore
IIFL Securities on Friday announced its net profit more than doubled to Rs 180.4 crore in three months ended March 2024 driven by strong growth in all the business segments.
Volumes and better demand should drive growth in textiles: Punit Lalbhai, Arvind & Anup Engg
So, both volumes and better demand should drive growth in textiles. And AMD is a very strong segment and has been historically also strong, so that journey of strength will continue in AMD and we should be able to grow at that 20% mark or slightly better.
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