EMPLOYEE STATE INSURANCE CORPORATION
LIC raises stake in IDFC First Bank by 0.2% to 2.68% via private placement
IDFC First Bank has underperformed in the market over the past year, gaining only 3% and declining 8% year-to-date. The stock is currently trading 24% below its 52-week high of Rs 100.74.
M-cap of nine of top-10 most valued firms jumps Rs 2.89 lakh crore; Reliance biggest winner
Nine of the top-10 most valued firms together added Rs 2,89,699.42 crore in market valuation last week, with Reliance Industries emerging as the biggest gainer, in line with a rally in equities. Last week, the BSE benchmark jumped 1,822.83 points or 2.36 per cent.
SBI General Insurance appoints Naveen Chandra Jha as MD & CEO
During the year ended on March 31, 2024, the bank infused additional capital of Rs 489.67 crore in SBI General Insurance Company Ltd. The company has also allotted ESOP (Employee Stock Ownership Plan) to employees and consequently, the bank's stake has decreased from 69.95 per cent to 69.11 per cent.
SBI General Insurance announces Naveen Chandra Jha as its new MD & CEO
Naveen Chandra Jha leads SBI General Insurance, overseeing operations, growth, and strategic initiatives with a focus on SME credit, HR, and retail banking. Under his leadership, the company expanded to 143 branches, achieving a 17% increase in gross written premium in FY24.
LIC warns policyholders about offers to buy their current insurance policies
The life insurance behemoth has urged all policyholders to proceed with extreme caution before making any decisions about their policy that might compromise their family's risk coverage and financial stability.
Mcap of three of top-10 most valued firms jumps Rs 1.06 lakh cr; HDFC Bank, ICICI Bank shine
The combined market valuation of three of the top-10 most valued firms jumped Rs 1,06,125.98 crore in holiday-shortened last week, with HDFC Bank and ICICI Bank emerging as the biggest gainers. Last week, the BSE benchmark Sensex climbed 217.13 points or 0.28 per cent.
Formal job creation under ESIC down by 7.8% in April to 1.64 million as compared to 1.78 million in April 2023
The provisional payroll data, released by the ministry of labour and employment shows that out of the total 1.64 million employees added during the month, 0.78 million employees or 47.6% of the total employees added to ESIC were up to 25 years of age, suggesting more jobs have been generated for the youth of the nation.
M-cap of five of top-10 most valued firms jumps Rs 85,582 crore; LIC biggest gainer
Top-10 firms gained Rs 85,582.21 crore in market valuation last week, with LIC leading. BSE Sensex rose 0.39%, hitting an all-time high. Market cap changes noted for Reliance, HDFC, Bharti Airtel, SBI, and LIC.
Mcap of 8 of top-10 valued firms jumps Rs 3.28 lakh cr; TCS, HUL, Reliance lead winners
Eight of the 10 most valued domestic firms together added Rs 3.28 lakh crore to their market valuation last week, with blue-chips Tata Consultancy Services, Hindustan Unilever and Reliance Industries emerging as the biggest winners. In an eventful week, the BSE benchmark jumped 2,732.05 points or 3.69 per cent.
Not just employers with benefits! India Inc looks to be more to woo talent
Corporate India is offering new-age benefits, realizing that attracting and retaining talent requires more than just high salaries. Cos offer new-age perks like cash for self-development, health insurance for siblings and pet care to woo talent
SAS India business to grow faster than other markets, top executive says
The company aims to upgrade its 400-odd customers to its generative AI platform SAS Viya over the next one year, Riad Gydien, executive VP and chief sales officer at SAS, told ET.
DICGC posts 17% growth in insurance fund
The fund is collected by premiums received from insured banks, interest income from investments, and cash recoveries from failed banks. The deposit insurance limit in India is set at ₹5 lakh per depositor per bank.
Access to benefits key in retaining women contract workers: Study
A study by Quess Corp and The Udaiti Foundation reveals that both single and married women who receive performance incentives are more likely to retain their jobs than those who don't. The findings, which analysed data from 1.6 million Quess employees over four years, highlight the high turnover in the staffing industry and India's low female labour participation rate. The study found that nearly one out of every two associates who quit do so within the first three months of employment, underlining the importance of support in that period to stem attrition.
Rajkot fire: Have got green signal to quiz top officials, says SIT chief; all DNA samples matched
The chief of the Special Investigation Team (SIT) investigating the Rajkot game zone fire, which killed 27 people, announced that they have been authorized to question senior IAS and IPS officials if necessary. This decision follows a review meeting with Gujarat's Minister of State for Home, Harsh Sanghavi. The Rajkot collector also confirmed that DNA samples of all victims have been matched with their relatives.
Maternity insurance: 5 things to know
Maternity Insurance is a type of health insurance policy that offers coverage for all pregnancy-related expenses.
Mcap of nine of top-10 most valued firms jump Rs 1.85 lakh cr; Reliance, HDFC Bank sparkle
Nine of the top-10 most-valued firms together added Rs 1,85,320.49 crore in market valuation last week, with Reliance Industries Ltd and HDFC Bank stealing the show with maximum gains, in line with rally in equities.
RBI may delay rate cuts, strong bond demand keeps market rates low
The Reserve Bank of India may postpone anticipated policy interest rate cuts, but strong demand for bonds from long-term investors like retirement funds and insurers will keep market interest rates low, particularly for top-rated borrowers. Soumyajit Niyogi, Director at India Ratings, noted that while hopes for significant rate cuts may be diminishing, elevated rates in the banking system will be favored. However, institutional investors' robust demand will keep bond yields low, especially for high-rated issuances.
PM Gati Shakti to aid in expanding social security
To begin with, the ministry has geotagged 1.3 million establishments covered under the Employees' Provident Fund Organisation (EPFO), about 1.5 million under the Employees' State Insurance Corporation (ESIC) and 104 ESIC hospitals for assessing the current social security coverage and planning future expansion.
Mcap of 6 of top-10 most valued firms declines by Rs 1.73 lakh cr; HDFC, LIC major laggards
The market capitalisation (mcap) of ICICI Bank declined by Rs 17,567.94 crore to Rs 7,84,833.83 crore, and that of State Bank of India went lower by Rs 11,780.49 crore to Rs 7,30,345.62 crore
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