The Insurance Regulatory and Development Authority of India (IRDAI) has asked life insurance companies not to advertise unit-linked plans as investment products in a recent circular.
Posts tagged Rediff
Informal entities in manufacturing lost 5.4 mn jobs (24-06-2024)
Unincorporated enterprises in the manufacturing sector lost nearly 1.8 million establishments and shed 5.4 million jobs between July 2015-June 2016 and October 2022-September 2023, an analysis of the fact sheet on ‘Annual Survey of Unincorporated Sector Enterprises (ASUSE)’ and the comparable 73rd round survey in 2015-16 by the National Statistical Office (NSO) showed. An estimated 17.82 million unincorporated enterprises operated in the manufacturing sector in October 2022-September 2023, nearly 9.3 per cent down from 19.7 million unincorporated enterprises in July 2015- June 2016.
Sensex pares losses, ends 131 points higher (24-06-2024)
Among the 30 Sensex companies, Mahindra and Mahindra, Power Grid, Sun Pharma, Nestle, UltraTech Cement, NTPC, ITC, ICICI Bank, Titan, Bajaj Finserv, Bharti Airtel, and HDFC Bank were among the biggest gainers. IndusInd Bank, Adani Ports, Tata Steel, Reliance Industries, Axis Bank and Bajaj Finance were among the laggards.
ICAI, MCA secretary discuss road map to create big cos (24-06-2024)
The Institute of Chartered Accountants of India (ICAI) has held discussions with ministry of corporate affairs (MCA) secretary Manoj Govil on the ‘Aggregation of CA Firms’ and the roadmap to create big Indian firms, a press statement by ICAI said.
Wine maker Sula Vineyard eyes double-digit growth (24-06-2024)
Raising toast to 25 successful years, India’s largest wine maker Sula Vineyard is eyeing a sustained double-digit growth in revenue over the next five years, buoyed by growth in the premium and elite categories and expansion of its new ranges. It was during Covid that the vineyards shifted focus to its own brands and pivoted towards growing the premium and elite segment of the market.
Over 85% Billionaires Are Upper Castes (24-06-2024)
While other backward classes had a share of 9 per cent, there were no scheduled tribe billionaires.
2nd rights issue: Byju’s moves HC against NCLT order (24-06-2024)
Beleaguered edtech firm Byju’s has moved the Karnataka high court challenging the order of the National Company Law Tribunal (NCLT) restraining it from going ahead with the second rights issue. The plea is likely to come up for hearing on Monday. The orders of NCLT were expected to be challenged before the National Company Law Appellate Tribunal (NCLAT).
Short-term margin overhang likely for Tata Comm (24-06-2024)
The management of Tata Communications presented its product-to-platform strategy and explained how it hopes to grow its new products and portfolios, and geographies. The management targets doubling of data revenue by FY27 to ~28,000 crore (implied 18 per cent annual revenue growth). The DPS (Digital Platform and Services) segment is likely to contribute over 60 per cent of data revenue.
Unemployment: Disease Lies In Education (24-06-2024)
In tackling India’s unemployment problem, look beyond the finance minister and focus on the education minister, points out Gurbachan Singh.
Macrotech and Oberoi Realty elevate Mumbai skyline (24-06-2024)
Mumbai-based developers Macrotech Developers (Lodha) and Oberoi Realty have emerged as top gainers among largecap realty stocks over the past month, with gains ranging from 29 per cent to 33 per cent. Strong ongoing sales trends in Mumbai’s core market, record bookings in the January-March quarter, and healthy guidance for 2024-25 (FY25) have propelled these companies, which derive the majority of their revenues from India’s financial capital.