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Turtlemint says regulatory changes and lower commissions could boost insurance volumes
Mumbai-based Nexus Venture Partners-backed insurtech startup Turtlemint has built a network-led insurance distribution model focused largely on smaller towns, with around three-fourths of its business coming from beyond metros. Dhirendra Mahyavanshi, Chairperson, Managing Director and Chief Executive Officer of the company believes regulatory changes aimed at improving affordability and insurance penetration will expand the market and support growth. Management also highlighted operating leverage benefits and sees opportunities to sell loans and mutual funds through its existing advisor network as it diversifies beyond insurance.
BFSI and oil & gas bear the brunt as foreign investors pull funds from India
Global fund managers are dumping Indian banking and oil stocks to chase AI and semiconductor opportunities in the US and East Asia. While India boasts strong loan growth, geopolitical oil volatility and compressed margins have driven foreign investors to look for better returns elsewhere.
Nifty IT crashes 6% to 3-year low as Infosys, HCL Tech, other IT stocks crash up to 9%. Time to buy the dip?
The Nifty IT index slumped over 6% to a three-year low after Accenture’s guidance cut triggered a sharp sell-off in Infosys, TCS, HCLTech and other IT stocks. While some experts see valuations turning attractive after the correction, others remain cautious amid AI-led disruption and slowing growth prospects.
Lower oil prices and NRI inflows could change India's macro outlook: Nomura
Robert Subbaraman, Head of Global Macro Research at Nomura Singapore, expects lower oil prices to ease inflation pressures, support growth and strengthen the rupee, while maintaining a Fed-on-hold view despite rising risks of a US rate hike.
Nifty IT index cracks 6%; TCS, Infy, TechM, LTM, HCL Tech plunge up to 8%
Indian IT stocks fell on Friday as Accenture narrowed its annual revenue growth forecast and issued weaker-than-expected fourth-quarter guidance, despite steady quarterly earnings.
ICICI Prudential AMC shares fall 2% as IPO lock-in expiry frees up Rs 1.2 lakh crore stake for trade
ICICI Prudential Asset Management Company shares dropped on Friday. This followed the expiry of the six-month IPO lock-in period. A significant number of shares became available for trading. The company's stock has seen fluctuations since its December listing. Despite recent dips, it remains higher than its IPO and listing prices. The company reported strong earnings growth for the financial year.
GRSE, Paras, Zen Tech: Analyst sees up to 54% upside in 3 defence stocks
Defence stocks to buy: Muthuselvaraj of Mirae Asset Sharekhan explains that Paras Defence is showing an uptrend, trading with higher top, higher bottom pattern after breaking from consolidation zone.
HealthQuad looking at deeper opportunities in new age healthcare with its Fund III
The early growth investor sees a wider and deeper opportunity across new age healthcare models, as demand and the pipeline of entrepreneurs building stronger, lasting businesses continues to grow
Nifty Outlook for June 19: Reliance, IT stocks hold key for Friday's trade
Heading into Friday's session, IT stocks will remain in focus after Accenture shares plunged 19% in their biggest one-day decline on record. The selloff came after Accenture trimmed the upper end of its annual revenue growth forecast on June 18. Following the development, Infosys ADRs fell nearly 8%, while Wipro ADRs declined about 4%.
SBI board approves ₹60,000 crore fundraising plan via bonds in FY27
India's largest lender may tap domestic and overseas debt markets through Basel III-compliant, tier-I and tier-II bonds as it looks to fund growth and bolster capital.
ICICI Prudential Mutual Fund trims stake to 7.12% in Kalpataru Projects International
ICICI Prudential Mutual Fund has decreased its stake in Kalpataru Projects International Ltd below 8% through open market transactions, selling 1,498,354 shares since December 2021.
Large NBFCs could see 3-5% earnings upgrades as borrowing costs ease: IIFL Capital
Viral Shah, Senior VP at IIFL Capital, said that credit growth trends remain healthy and asset quality is holding up despite economic uncertainties. Shah remains positive on diversified lenders such as Shriram Finance and Cholamandalam Investment, while cautioning that gold financiers remain heavily dependent on movements in gold prices.