INSURANCE BROKING
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.
Q4 results: Stable costs boost India Inc. profits
Steady costs and firm domestic demand supported corporate performance in the March quarter.
Paytm shares jump 8% on partnering with Samsung, focus on insurance distribution
One97 Communications, the parent company of Paytm, saw a 8% surge in shares as it announced a partnership with Samsung Wallet. Galaxy smartphone users can now access Paytm's services for flight, bus, movie, and event bookings seamlessly through the Samsung Wallet.
Irdai accepts registration withdrawal application of Paytm General Insurance
One97 Communications, owner of Paytm, will focus on distributing insurance products from various insurers after the Insurance Regulatory and Development Authority of India (Irdai) accepted Paytm General Insurance's registration withdrawal application. This move aligns with Paytm's strategy to enhance insurance distribution across Health, Life, Motor, Shop, and Gadgets segments through its subsidiary, Paytm Insurance Broking Private Ltd (PIBL). Paytm aims to innovate small-ticket insurance products for consumers and merchants, leveraging its extensive distribution network to increase insurance penetration.
Nifty hits fresh record high, Sensex soars 500 pts on gains in IT stocks; Fed outcome in focus
Indian shares kicked off Wednesday's trading session on a positive note, driven primarily by gains in IT stocks. The market anticipates the release of a crucial U.S. inflation report and the Federal Reserve's policy decision, both of which are likely to impact near-term interest rate trends.
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
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Stock brokers push lending; InsuranceDekho’s latest acquisition
Happy Tuesday! Tech-first broking companies are looking to diversify into the credit business to build a larger financial services play. This and more in today’s ETtech Morning Dispatch.
Nothing personal against Burmans; working in best interest of Religare: REL Chairperson Rashmi Saluja
Religare Enterprises Ltd (REL) Chairperson Rashmi Saluja has denied any personal resentment towards Burmans, who are in a dispute with management over control of the financial services firm. Burmans, who own around 25% of REL through four entities, announced an open offer to acquire a 26% stake from public shareholders. Saluja defended the relationship with all shareholders, including Burmans, for the last six years and stated that the board's concerns should be put to the rest.
Angel One to undertake corporate restructuring, create holding company
Angel One, the country’s third largest stock broker, is set to undertake a major corporate restructuring exercise, according to two people in the know. Angel One is setting up a holding company under which all its different business entities will be held as subsidiaries.
Jio Financial Services launches app to take on its fintech rivals
Jio Finance will offer UPI payments, bill payments, insurance advisory and digital banking. Eventually Jio Financial Services will offer credit products like loans against mutual funds, home loans and others to its customers through the app.
LIC shares can rally up to 30%; check target prices of 5 brokerages
Brokerages are largely positive on LIC's future as they see an upside potential of up to 30% in the stock, suggesting target prices as high as Rs 1,300.
Paytm withdraws general insurance licence application; to focus on distribution-only model
Troubled fintech Paytm will increase focus on insurance distribution. It had earmarked Rs 950 crore to invest in the entity applying for the general insurance licence but it now expects to conserve that cash. The Noida-headquartered company will focus on distributing small ticket-size insurance products such as life, health, motor, shop and gadgets.
Upstox enters insurance distribution business
HDFC Life is among the first insurers to partner with Mumbai-based Upstox, featuring its term insurance plans on the platform
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.
F&O stocks to buy today: Biocon, Axis Bank among top 9 trading ideas for 9 May 2024
F&O stocks to buy today: On the weekly options front, the maximum Call OI is placed at 22500 and then towards 22700 strikes while the maximum Put OI is placed at 22000 and then towards 22200 strikes.
Our overall AUM contributing to huge top and bottom line growth: Sanjay Shah, Prudent Corporate Advisory
So, I think we are very confident that SIP is an evolving story for the retail people and there is a strong TINA factor because there is no alternative for people to invest a small-small amount other than the SIP from a very longer-term perspective.
PhonePe poured bulk of Rs 800 crore investments into insurance business
The infusion of Rs 426 crore to PhonePe Insurance Broking Services points to the payment company's bullish bet on the segment. PhonePe has infused more than Rs 1,000 crore as equity investment in its insurance unit since it was licensed, according to information sourced from the Registrar of Companies.
Jio Financial, BlackRock enter into JV for wealth management, broking businesses
Jio Financial Services has signed an agreement with BlackRock Inc. and BlackRock Advisors Singapore Pte. Ltd. to form a 50:50 joint venture with Blackrock. The launch of the wealth management and broking businesses is subject to regulatory and statutory approvals.
Norges Bank of Norway supports ICICI Securities delisting
The move of the Norway-based Norges Bank provided a shot in the arm of ICICI Securities' plan to delist itself as it needs two-thirds of the public shareholders' support to pass the resolution.
Like Shriram Finance among NBFCs; expect 10% upside in Triveni Turbine: Nischal Maheshwari
Nischal Maheshwari expresses concerns about frothiness in the market and points out that many funds are not accepting small checks and SIPs less than Rs 25,000 in smallcap and midcap funds. Frothiness in the midcap and smallcap stocks is driven by more money. The government's support for the manufacturing sector presents opportunities for investors.
US-based insurance broker Lockton enters India
Lockton has appointed former CEO of Aditya Birla Insurance Brokers Sandeep Dadia as its India head. Dadia brings 20 years of insurance industry experience. Lockton aims to build its network in India and meet the growing demand for risk consulting and management services. Lockton, founded in 1966, operates in 140 locations worldwide and serves over 65,000 clients.
The rise & rise of new-age stock brokers; and other top tech, startup stories this week
A crop of tech-first stockbrokers is not only leading from the front in adding new customers, they’re also generating strong revenues and profits. These stock-broking platforms, which have diversified beyond stock trading to position themselves as full-fledged financial services firms, have left behind the traditional players in terms of user sign-ups.
Insurance Broking Platform Finhaat Raises $3 million in funding from Omnivore, others
The Mumbai-based startup works with over 60 institutions like banks, credit societies, non-governmental organisations and self-help groups to distribute insurance to the last mile.
Irdai ups scrutiny of broking deals, approvals take longer
The Insurance Regulatory and Development Authority of India (Irdai) has increased scrutiny on the ultimate beneficiaries in share transfers within the insurance broking sector, leading to extended approval timelines. The regulator is examining general partners (GPs), alternative investment funds (AIFs), and venture capital/private equity funds associated with these transfers.
LIC stock: After 10% rally last week, Emkay raises target price to Rs 850
LIC shares were trading marginally higher at Rs 679.55 on BSE today and have lost about 4% of its value on a year-to-date basis.
Jio Financial set to launch suite of loan products in Mukesh Ambani's finance push
JFS has already launched personal loans for salaried and self-employed individuals in the financial capital of Mumbai and consumer durable loans across 300 stores in India, it said in a presentation to analysts late on Monday.
We expect Religare insurance business to grow to Rs 8000 cr: Vinit Bolinjkar
Today their book is down very close to Rs 1000 crore, Rs 1500 crores. So, we believe that going ahead they already have that technology backbone in place. This business can really-really spur on growth because they do not need to raise capital in the short term as they have got fairly high capital adequacy.
Buy SBI Life Insurance Company, target price Rs 1410: Religare Broking
Promoters held 55.45 per cent stake in the company as of 30-Jun-2023, while FIIs owned 26.22 per cent, DIIs 14.14 per cent.
Future Generali India Life Insurance enters into strategic alliance with JM Financial Services
The collaboration with JM Financial Services will unlock new opportunities for Future Generali India Life Insurance to diversify its product portfolio and leverage its distribution and financial advisory capabilities. The partnership will capitalize on the strengths of both organizations, with an amalgamation of innovative products offered by Future Generali India Life Insurance and the comprehensive distribution capabilities of JM Financial Services, creating synergies that will empower individuals, families, and businesses to secure their financial future.
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