DOMESTIC INSURERS
ICICI Lombard stock price down 1.42 per cent as Sensex climbs
As of 31-Mar-2024, promoters held 0.0 per cent stake in the company, while FIIs held 23.06 per cent and domestic institutional investors had 13.44 per cent.
Share price of ICICI Pru Life as Nifty strengthens
A total of 12,427 shares changed hands on the counter till 10:35AM (IST).
Share price of ICICI Lombard jumps as Sensex gains 503.51 points
Promoters held 0.0 per cent stake in the company as of 31-Mar-2024, while FII and DII ownership stood at 23.06 per cent and 13.44 per cent, respectively.
Health insurer Niva Bupa files for Rs 3,000 crore IPO
The company, majority owned by British United Provident Fund (Bupa), said it will issue fresh shares worth up to eight billion rupees as part of the offering.It aims to use the proceeds from that sale to strengthen its balance sheet and for operating expenses.
ICICI Pru Life shares up 0.63% as Nifty gains
A total of 12,534 shares changed hands on the counter till 11:42AM (IST).
India imposes anti-dumping duties on three Chinese products
On hydraulic rock breakers, the duty ranged between 4.55 per cent and 162.5 per cent of CIF (cost, insurance, freight) value in US dollars. The duty was also imposed on these goods coming from Korea. These breakers are used in the construction and mining industry for carrying out demolition, excavation, mining and boulder breaking activities.
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Three state insurers may get Rs 5,000-cr infusion for revival
The Indian government may delay the planned privatisation of state-run general insurers, instead focusing on strengthening three insurers - Oriental Insurance Co. Ltd, National Insurance Co. Ltd, and United India Insurance Co. Ltd - through capital support and business revival plans. The government is expected to infuse about ₹5,000 crore into the insurers this fiscal, shelving any privatisation plan this fiscal.
Hinduja rejigs fundraise plan for Reliance Capital deal
Hinduja Group, the winning bidder for Reliance Capital, is reworking its fundraising plan to raise ₹7,500 crore from domestic and overseas private credit funds at 15%. The Reserve Bank of India seized control of Anil Ambani-owned Reliance Capital due to governance concerns. Nageswara Rao Y was appointed as the administrator.
Will prefer to focus on domestic sectors vs external facing sectors: Sunil Koul
I mean there is obviously the broader structural kind of under penetration story behind it, but I think the sector had not done well in the last a couple of years because of these issues and both in terms of numbers but also in terms of the regulatory overhang.
New PNB Rupay debit card airport lounge access rules will come into effect from July 1, 2024; check details
Punjab National Bank (PNB) has announced that the lounge access program for all variants of Rupay Platinum Debit Cards have been revised. The revised program is effective from July 1, 2024, as per the PNB website.
UPI integration gives a fillip to RuPay credit cards distribution
RuPay credit cards are seeing a growth in usage after linking with UPI, with its issuance at 30%, up from a mere 5% in 2022-23. The shift towards UPI-based credit cards on third-party apps like Google Pay and PhonePe poses a challenge for banks, raising concerns about customer retention and cross-selling. Fintech startup Fibe, led by Ashish Goyal, foresees a potential share struggle among top UPI apps.
Buzzing! Insurance stocks in focus after IRDAI increases surrender value
Insurance stocks rose up to 3% after IRDAI increased surrender values for non-linked products, affecting insurers like LIC, HDFC Life, and Max Life. Shares of LIC, HDFC Life, and SBI Life were up on BSE. Nuvama awaits more details from companies next week.
Empowering women with financial planning: Term insurance as a safety net
Women often overlook self-care while balancing caregiving and financial roles. Recognizing the importance of insurance coverage for financial stability is crucial for long-term resilience.
Own midcaps? Do a check & balance exercise to avoid decision of haste: 7 midcaps from different sectors with an upside potential of upto 49%
Every now and then the market goes through phases, where it prefers a certain set of stocks, not based on sector but based on the overall market cap. So, sometimes it is large caps, at other mid-caps. Now this partially happens, due to the flows which are coming to markets. For example, if more flows are coming to mid-cap or multicap schemes there is bound to be out performance in the mid-cap space. Now what it does is that it tends to create a sudden surge in mid-cap. Similarly when there is an outflow like the kind of one which we saw in March this year, midcap stocks tend to decline sharply. Essentially, it is the flows which impact the broader matrix of how midcaps behave. So there are phases not owning a midcap stocks appeared to sin and then there phase, where owning them appears to be sin. But if one focuses on the underlying business and some critical parameters, there is a possibility of getting rid of these phases of anxiety which keep coming to the street and create long term wealth.
Insurers lap up GSec derivatives to manage liabilities
Global funds and insurers are showing strong demand for Indian government bonds, particularly ahead of their inclusion in a JP Morgan index. Insurers are increasingly interested in Bond Forward Rate Agreements (Bond-FRA) to manage long-term liabilities, with significant trading activity reported by Clearing Corporation of India (CCIL).
Credit cards for international airport lounge access of HDFC Bank, Axis Bank, Yes Bank: Complimentary lounge access, other benefits
Top airport lounge credit cards: The credit cards listed below offer considerable number of complimentary visits to international as well as domestic airport lounges, along with other travel and lifestyle benefits
Past reforms will continue to drive economy over next 2 years: Neelkanth Mishra
In fact, with the RBI dividend being significantly better than what was budgeted, I would not be surprised if in the July budget, the government chooses to bring down its FY25 fiscal deficit target from 5.1% to 4.9% because that money is there.
GIC Re Q4 Results: Net profit rises 3% to Rs 2,642 crore
GIC Re on Tuesday posted a 3 per cent increase in net profit to Rs 2,642 crore for the fourth quarter ended March 2024 compared to Rs 2,564 crore in the same quarter a year earlier.
View: The paradox of foreign investors neglecting India’s booming stock markets
India, with a GDP growth exceeding 8% in 2023-24, is the fastest-growing major economy. Despite being recommended by Morgan Stanley and other investment houses for investors in emerging markets, foreign investment in Indian stock markets remains low.
Govt needs to boost financial support to startups: Snapdeal founder
Conversations over boosting supply of capital to homegrown startups have come at a time when the startup ecosystem is experiencing a major slowdown. According to Infosys cofounder S Kris Gopalakrishnan, there is significant wealth in the country and family offices or fund managers should allocate at least 15% of their investments to the startup ecosystem as a thumb rule.
Record additions of new SIPs give local funds added muscle
Registration of gross SIP accounts, the preferred route for small investors to invest in equities, rose to a record of 6.36 million in April, data from the Association of Mutual Funds in India (AMFI) showed.
Local funds’ equity holding tops FPI assets for first time in April
A rising clout of the local funds augurs well for the Indian stock market since it helps in reducing the impact of the selling pressure by FPIs in times of global economic and geopolitical uncertainties. The DII share in the total institutional equities AUM of Rs 179 lakh crore rose by 172 basis points to a record 37.2%.
Service activity eased slightly to 60.8 in April
India's service sector maintained strong growth in April, easing slightly to 60.8. Service exports, notably to the Middle East, drove new orders and domestic demand. FY24 projects a 4.4% rise to $339.6 billion.
Q4 earnings: Domestic cyclicals in line or slightly better while defensives like IT & FMCG are underwhelming, says Vinod Karki
Vinod Karki, Equity Strategist at ICICI Securities, highlights market trends with a focus on domestic cyclicals, defensives, and FPI buying behavior. He anticipates a tapering down of earnings growth from a low base, emphasizing the importance of maintaining valuations in the market. Karki points out that DIIs and FIIs being an equal footing in terms of net buying is keeping our markets relatively expensive .
Sensex hits fresh lifetime high, closes in on 75,000 mark
The ₹300 lakh crore market cap milestone was achieved on July 5, 2023, when the Sensex was at 65,446. Since then, the index has rallied over 14%, but the broader market cap has surged 34%.
Vistara flight delays, cancellation: How much compensation can passengers get as per DGCA? Travel insurance can help to save big
Vistara flight delays, cancellation: Vistara has been in the news this week, with reports suggesting close to 100 flight cancellations. The airline grounded nearly 50 flights on Monday, April 1, and that number is expected to climb to 60 today, April 2. Are you a Vistara passenger facing a delay or cancellation? Here's what you should know about the DGCA rules for flight delays and cancellations.
Which domestic insurance companies have been identified as systemically important for financial stability of the economy in FY2023-24?
D-Slls are perceived as insurers that are 'too big or too important to fail'. This perception and perceived expectation of government support may amplify risk-taking, reduce market discipline and increase the possibility of distress in the future. These considerations require that D-Slls be subjected to additional regulatory measures to deal with systemic risks.
ETMarkets Smart Talk: Retail money fueling rally in small & midcaps; expect modest return in FY25: Ramkumar K
Ramkumar K, Chief Investment Officer, Reliance General Insurance, advises caution in selecting sectors and scrips due to emerging exuberance pockets, with modest equity returns expected. Watch FY25 for market movements, global policies, US elections, interest rate cuts, large banks, bad assets, energy sector as well as FIIs' interest in small & midcap stocks.
A91 Partners on track to raise its largest fund at $700-750 million
A91 Partners, launched in 2018, debuted with a $350 million maiden fund. Just three years later, they scaled up significantly, securing $550 million for their second fund, targeting both late-stage venture and early-growth investments. This will be among the fastest scaleups in terms of fund size for a domestic investment fund.
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