On the Sensex chart, Nestle, Tech Mahindra, HCL Technologies, Tata Motors, Wipro and ITC were among the winners. In contrast, Bharti Airtel, Mahindra and Mahindra, Bajaj Finserv, HDFC Bank, NTPC and Hindustan Unilever were among the laggards.
Posts tagged Rediff
Insurance claims drop 30-35% during Chennai floods (01-01-2024)
Yet another first week of December brought familiar scenes of rain, storm, flooding, power outages, and fallen trees. When Cyclone Michaung wreaked havoc, leading to the heaviest rainfall in 47 years in the city, residents of Chennai drew parallels to the devastating floods of 2015. However, initial data on insurance claims suggests that the impact this time may portray a more optimistic scenario.
‘Huge demand for life insurance products in India’ (01-01-2024)
‘As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.’
Ola Electric’s Rs 5,500 cr IPO to bolster EV market (01-01-2024)
Ola Electric’s initial public offering (IPO), of Rs 5,500 crore, is essentially aimed at ensuring the company maintain its top position in the electric two-wheeler segment, with incumbent players TVS and Bajaj Auto giving a fight to the number one player in market share. Most experts and competitors say the amount being raised is in line with the investment required to expand the electric-vehicle (EV) business. There are two discernible trends in the competitive electric two-wheeler market.
Smallcaps primed for Rs 20,000 crore capital club (01-01-2024)
The upper market capitalisation (mcap) threshold for midcap and smallcap stocks in the mutual fund (MF) industry’s revised list of stocks, to be announced this month, is set to see the second-highest yearly rise in the past five years. The list was first announced in 2018, and it has been revised every six months since then. According to estimates released by Nuvama Alternative and Quantitative Research, the upper threshold for the midcap and smallcap universes could come in at Rs 66,700 crore and Rs 21,900 crore in the next list.
Banks bid 2.5x against Rs 1.75 trn at VRR auction (01-01-2024)
Banks submitted bids amounting to Rs 4.75 trillion, around 2.5 times of the notified amount of Rs 1.75 trillion, at the Variable Rate Reverse Repo (VRR) auction conducted by the Reserve Bank of India (RBI) on December 22, a day after the liquidity deficit in the banking system widened to Rs 2.5 trillion. In the most recent VRR auction held by the RBI on December 15, bids totaling 2.7 times the notified amount were received. Banks secured Rs 1 trillion at a weighted average rate of 6.63 per cent.
Former NITI VC Panagariya to head Finance Commission (31-12-2023)
The government on Sunday appointed former Niti Aayog vice chairman Arvind Panagariya as the Chairman of the 16th Finance Commission. Joint Secretary in the finance ministry Ritvik Ranjanam Pandey will be the secretary to the commission, the government said in a notification. “The President is pleased to constitute a Finance Commission with Dr Arvind Panagariya, former Vice-Chairman, NITI Aayog and Professor, Columbia University, as the Chairman. Members of the Commission will be notified separately,” it said.
Will 2024 be a happy year for equity investors? (31-12-2023)
tailwinds of a remarkable year and handsome investor returns, Indian equities are set for an eventful journey in 2024, with a slew of local and global cues — varying from interest rates to Lok Sabha polls to geopolitical happenings. Analysts are of the view that the bull run in the domestic equity market will continue, and over the next 3-6 months, the benchmark indices — Sensex and Nifty — could climb up to 7 per cent. In 2023, the 30-share BSE Sensex jumped 11,399.52 points or 18.73 per cent, and the NSE Nifty climbed 3,626.1 points or 20 per cent.
‘The agenda is ‘insurance for all by 2047” (31-12-2023)
‘If you want it to grow well and serve the true needs of the economy, it needs a lot of freedom and flexibility, which comes in terms of the reform objective set by the regulator.’
India to remain fastest-growing major economy in 2024 (31-12-2023)
India decisively withstood global headwinds in 2023 and is likely to remain as the world’s fastest-growing major economy on the back of growing demand, moderate inflation, stable interest rate regime and robust foreign exchange reserves. Despite widespread pessimism witnessed among the developed nations and the worsening geopolitical situation, India recorded a gross domestic product (GDP) expansion of 6.1 per cent in the March quarter. The growth moved up to 7.8 per cent in the June quarter and was 7.6 per cent in the September quarter. For the first six months of this fiscal, the growth was 7.7 per cent.