Mumbai: Indian equities weakened on Monday as heightened uncertainty over the Israel-Hamas conflict led to a flight of money, across global markets, to safe-haven assets such as gold and the US dollar. The surge in oil prices in the wake of the geopolitical tensions also soured sentiment among investors, already anxious about the persistent inflation … Read more
“I think rate cut, again expectations have been also sort of pushed beyond because we do not expect the US Fed to sort of cut rates because that will sort of put pressure on the currency,” says Pankaj Pandey, Head Research, ICICIdirect.com.What is the market expecting from the RBI policy, a status quo and I … Read more
Billionaire Mukesh Ambani, the king of disruption, is at it once again. Just when Bajaj Finance became India’s most valued NBFC following a $40 billion reverse merger of HDFC with HDFC Bank, Reliance Industries (RIL) has already fired a $20 billion salvo to change the pecking order in the world of shadow lenders. Following a … Read more
Six years after the rollout of the biggest indirect tax reform in India, Goods and Services Tax (GST) revenue of Rs 1.5 lakh crore every month has become a new normal and tax officers are focusing on dealing with fraudsters who are adopting newer modus operandi to game the system, causing loss to the exchequer. … Read more
Brokerages Jefferies and Kotak Institutional Equities have recommended a ‘Buy’ on HDFC Life Insurance Company, projecting a 20-28% upside. The optimism rides on its current business performance and growth outlook. Kotak has gone one step ahead and called HDFC Life a “conviction” buy. “We believe HDFC Life is set for pick-up in premium growth to … Read more
Promoter Abrdn has sold its entire stake in HDFC AMC through block deal on Tuesday and earned about Rs 4,079 crore. According to the block deal data available with the exchanges, Abrdn has sold 2.18 crore shares or 10.2% stake in the company at Rs 1,873 apiece. Further, data showed that prominent investors lapping up … Read more
Indian equities might advance on Monday, snapping their three-day losing run, after the US markets rallied on Friday, cheering the lower than-expected jobs data in December and the contraction of the country’s services industry activity during the month. Analysts, however, do not expect a rally to sustain for long as traders will be tempted to … Read more
Mumbai: Digital may promise to be a big driver of business from hotels to logistics, but when it comes to insurance, the traditional people-led sales model will continue to dominate the scene as it requires advice based on individual needs, said Tarun Chugh, CEO of Bajaj Allianz Life Insurance Company. The insurer sells half its … Read more
Limited (HDFC) on Saturday said its life insurance arm has received nod from the pension fund regulator PFRDA for change in shareholding ahead of the merger between and subsidiary HDFC Bank. PFRDA vide its letter dated November 11, 2022 to , has granted its approval for proposed change in shareholding of HDFC Life, sponsor company … Read more
Life Insurance Corp of India () is planning to transfer nearly $22 billion from policy holders’ funds into a fund earmarked to pay dividends or issue bonus shares, two sources said on Friday, as the country’s largest insurer aims to shore up both its own net worth and investor confidence. The state-owned insurer listed on … Read more