STATE INSURANCE CORPORATION
![M-cap of 7 of top-10 most valued firms soars Rs 1.72 lakh crore; TCS steals show](https://img.etimg.com/thumb/msid-111725973,width-100,height-75,resizemode-4/markets/stocks/news/mcap-of-7-of-top-10-most-valued-firms-jump-rs-1-72-lakh-cr-tcs-steals-show.jpg)
M-cap of 7 of top-10 most valued firms soars Rs 1.72 lakh crore; TCS steals show
The 30-share BSE Sensex jumped 622 points, or 0.78 per cent, to settle at a record closing level of 80,519.34 on Friday. During the day, it zoomed 996.17 points, or 1.24 per cent, to hit an all-time high of 80,893.51.
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Union Budget 2024: Good time to push disinvestment of public banks, says SBI report
Budget 2024: The State Bank of India (SBI) has suggested that the government should proceed with disinvestment of public sector banks (PSBs) as they are in good condition. The SBI's research report, titled 'Prelude to Union Budget 2024-25', argues for the consolidation of existing government-owned banks. The report also seeks clarity on the privatisation of IDBI Bank, which is being sold by the government and Life Insurance Corporation of India.
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India-Russia to push long-term arrangement for crude supplies at annual summit
New Delhi and Moscow aim to establish a long-term arrangement for crude oil supplies during PM Narendra Modi's visit on July 8-9. The discussions have been sparked by the increase in Russian oil exports. The focus is on ensuring a consistent supply of Russian crude to India at discounted rates. This proposed arrangement has been a topic of ongoing talks between the two nations.
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LIC asks shareholders to update PAN, bank details by this date to avoid higher TDS on dividends
Attention LIC shareholders: Shareholders are advised by the Life Insurance Corporation of India (LIC) to update their Permanent Account Numbers (PANs). Dividends will be paid to members who own equity shares of the Corporation, either in physical or electronic form.
![SBI wants tax parity on bank FDs with mutual funds & equity markets in Budget](https://img.etimg.com/thumb/msid-111573721,width-100,height-75,resizemode-4/markets/stocks/news/sbi-wants-tax-parity-on-bank-fds-with-mutual-funds-equity-markets-in-budget.jpg)
SBI wants tax parity on bank FDs with mutual funds & equity markets in Budget
SBI has urged for income tax parity on bank FDs in Budget 2024, highlighting that bank credit growth outpaced deposit increases by Rs 2 lakh crore in FY24. Currently, equity and MF short-term capital gains are taxed at a flat 15%, while long-term gains enjoy a moderate 10% rate with exemptions up to Rs 1 lakh. Loss carry-forward provisions add to the attractiveness of these investments.
![Mcap of 8 of top-10 most-valued firms jumps Rs 1.83 lakh cr; TCS, Infosys biggest gainers](https://img.etimg.com/thumb/msid-111550460,width-100,height-75,resizemode-4/markets/stocks/news/mcap-of-8-of-top-10-most-valued-firms-jumps-rs-1-83-lakh-cr-tcs-infosys-biggest-gainers.jpg)
Mcap of 8 of top-10 most-valued firms jumps Rs 1.83 lakh cr; TCS, Infosys biggest gainers
The BSE benchmark rose 963.87 points, up 1.21%. Eight leading firms added Rs 1,83,290.36 crore, led by TCS, Infosys, Reliance, ICICI Bank, LIC, Hindustan Unilever, ITC, and SBI. TCS increased by Rs 38,894.44 crore, Reliance by Rs 32,611.36 crore. HDFC Bank and Bharti Airtel saw declines in market valuation.
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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 raises Rs 10,000 cr via bonds to fund infra projects
State Bank of India (SBI) on Wednesday raised Rs 10,000 crore through its fifth infrastructure bond issuance. The country's largest lender raised the funds at a coupon rate of 7.36 per cent.
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.
Tesla vs Tata Motors: Elon Musk's $56 billion salary more than TaMo revenue
Musk's compensation package not only outstrips TaMo but also surpasses the total revenues of other prominent Indian entities, including HPCL, SBI, Rajesh Exports, and TCS
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.
Sitharaman's budget next month to lay out economic roadmap of Modi 3.0
The economic agenda would include steps to fast-rack reforms to make India a USD 5-trillion economy in near future and turn the country into a 'Viksit Bharat' by 2047.
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.
Up to 8.6% interest rate on corporate FDs: 5 highest company FD interest rates for you
Corporate fixed deposit: You can get up to 8.6% interest rate on coporate fixed deposits. However do keep in mind corporate FDs have no insurance from Deposit Insurance and Credit Guarantee Corporation (DICGC) in the event of a default by the company. Read here to know more about interest rate of various corporate FDs.
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.
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.
Mcap of 8 of top 10 most valued firms climbs Rs 1.47 lakh cr; LIC, Reliance major gainers
Eight of the top-10 most valued firms, including LIC and Reliance Industries, added Rs 1,47,935.19 crore in market valuation last week. The BSE benchmark climbed 1,341.47 points, and NSE and BSE conducted a special trading session on May 18 to test their readiness. LIC's valuation soared by Rs 40,163.73 crore, and Bharti Airtel's valuation also saw significant growth.
SBI PSU Fund adds IEX in April, raises stake in LIC, SAIL and 2 more stocks
SBI PSU Fund Reg(G), a top performer in equity mutual funds, bolstered its portfolio by adding Indian Energy Exchange (IEX) shares and increasing stakes in Bank of India, LIC, NALCO, and SAIL.
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
Non-life insurance companies post 13% rise in premium collection at Rs 2.89 lakh cr in FY24
In the fiscal year 2023-24, 42 general insurance companies collectively earned a premium income of Rs 2,89,738 crore, marking a 13% increase from the previous year's Rs 2,56,894 crore, as reported by the General Insurance Council. Among these, 35 general insurance firms saw a 14% rise in premium income to Rs 2,45,433 crore from Rs 2,14,833 crore in the preceding year. Additionally, five standalone health insurers witnessed a 26% growth in premium income, reaching Rs 33,116 crore compared to Rs 26,244 crore in the previous year.
Top Nifty50 stocks analysts suggest buying this week
Stock Reports Plus, powered by Refinitiv, is a comprehensive research report that evaluates five key components of 4,000+ listed stocks - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. Simple average of the above-mentioned five component ratings is normally distributed to reach an average score.
This tax-saving ELSS fund gave 14.3% returns in five years; should you invest?
Axis ELSS Tax Saver Fund: This fund has undergone a shift in its investing stance in recent years. The big change is in the form of a more diversified portfolio (currently around 60 stocks), against the earlier preference for a compact portfolio of around 40 stocks. This has also reduced the heavy concentration at the top end of its portfolio, with the fund diluting positions in its top bets. It has also sizeably hiked its presence in mid-cap stocks, even as it retains a large-cap tilt. Should you invest?
Mcap of 6 most valued firms rise Rs 1.30 trillion; SBI, ICICI Bank top gainers
The combined market valuation of six of the top-10 most valued firms increased Rs 1,30,734.57 crore last week, with State Bank of India and ICICI Bank emerging as the biggest gainers in line with an overall positive trend in equities.
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