Making adjustments to its model portfolio, domestic brokerage firm Kotak Institutional Equities has increased the weight of InterGlobe Aviation (INDIGO) by 100 basis points to 250 basis points and Pidilite Industries (PIDI) by 40 basis points to 190 basis points. Meanwhile, Dabur witnessed a decrease in the weightage. According to the domestic brokerage firm, both … Read more
HDFC Pension Fund Management has become the first private sector pension fund manager to surpass Rs 1 lakh crore assets under management (AUM). The assets under management (AUM) of the company have doubled in the span of 16 months, mainly due to a significant 34.1% growth in its subscriber base, which currently exceeds 2.1 million … Read more
Muthoot Microfin has raised Rs 285 crore by selling part stake to anchor investors in the pre-IPO placement. The company has allocated 97,93,812 shares to 26 anchor investors. These include foreign portfolio investors like Morgan Stanley, Societe Generale, Copthall Mauritius Investment. Among domestic institutional investors, a string of insurance companies, including ICICI Prudential Life Insurance, … Read more
Jefferies’ Global Head of Equity Strategy Christopher Wood has picked food delivery app Zomato for his India long-only portfolio. The weight of the stock will be 4%. On the other hand, Wood has removed HDFC Life Insurance from the same. Zomato has also been added to the global long-only equity portfolio, which will be paid … Read more
NEW DELHI: Spread across almost every nook and corner of Dalal Street, Life Insurance Corporation of India or LIC‘s portfolio is humongous with Rs 10 lakh crore riding on as many as 273 stocks. So far in the calendar year 2023, there are 12 stocks in LIC’s kitty that have delivered at least 20% return … Read more
(This story originally appeared in on May 08, 2023) MUMBAI: It’s been halfway through the results season and the initial set of numbers for the January-March quarter (Q4FY23) show that frontline companies have performed slightly above estimates, with companies from the banking & financial services (BFSI) outperforming companies from other sectors. The 26 Nifty companies … Read more
The insurance industry has witnessed a shift from unit-linked plans toward non-linked plans. Non-linked businesses contributed 80% to the new business premium of the industry. What does this trend mean for the bottom line of insurance companies?Nearly every industry was affected by the Covid-19 pandemic, and each one has responded differently. Additionally, it has brought … Read more
Mumbai: As the government and bankers gear up for the mega initial public offering of state-owned Life Insurance Corporation of India, a niggling worry for them could be the lower appetite for insurance companies among investors of late. Shares of the seven listed insurance companies have underperformed the market in the past three to six … Read more