The key team members are in place. Prateek Agrawal, the equity head is from ABN AMRO AMC, Sujay Das, the fixed income head came from DSP Merrill Lynch AMC and Nanda Kishore S, the marketing head is from Sundaram BNP Paribas AMC. Dasgupta himself is from Deutsche AMC. Bharti-AXA has a 35-member strong team, which would be expanded to 70 by June.
While a company spokesperson said Bharti would either dilute its stake or exit the venture, the fund house is trying to rope in a bank to strengthen its distribution network. In addition, an asset management venture is seen to have closer links with banks, which are looking to offer a wide range of financial products.
'Our new business premium is around Rs 700 crore, which we want to take to Rs 2,000 crore.'
Corporates are foraying into portfolio management services, with biggies like Reliance Money, Bharti Axa, Tata Capital and others taking the plunge.
Sunil Bharti Mittal-led conglomerate Bharti Enterprises and private equity firm Warburg Pincus will collectively acquire a 49 per cent stake in Haier Appliances India, the local unit of China's Shandong-based Haier group, for an undisclosed amount. The transaction, according to industry sources, values the company at about 15,000 crore.
The DPDP rules, which have come into effect, require companies to implement a data protection and consent management system by November 2026.
Insurance intermediaries who receive disproportionately high commissions are likely to see a decline in their payouts, post the new Insurance Amendment Bill. The new Bill gives the Insurance Regulatory & Development Authority of India (Irdai) the power to disgorge unlawful gains made by insurers and intermediaries as well as the right to limit commissions paid to intermediaries.
While investments are typically reviewed annually, risk cover is often left unchanged for years.
The Insurance Regulatory and Development Authority of India's (Irdai's) decision to allow insurers to hedge risks through equity derivatives will help them manage market volatility and protect policyholder returns. However, this move is unlikely to alter their investment strategies.
Younger people, who usually have a longer investment horizon which allows them to handle the interim volatility, may go for them.
Bharti Retail launched its first mall, The Pavilion, in Ludhiana.
The Rs 6,145-crore initial public offer of electric two-wheeler company Ola Electric Mobility got fully subscribed on the second day of bidding on Monday, driven by demand from retail investors and non-institutional investors. The initial share sale received bids for 49,43,63,610 shares against 46,51,59,451 shares on offer, translating into 1.06 times subscription, according to the NSE data.
Mannapuram Finance, Mahindra and Bharti Axa are some of the firms known to have bought office spaces worth more than Rs 100 crore
Many people struggle to claim or liquidate investments and insurance policies due to procedural issues.
The GST to be implemented from April 1, 2016, will increase the premiums.
'Policy was more in line with the expectations.'
Twenty years after India's insurance sector was opened up, unshackling the control of state-owned companies, as many as 50 private players have set up shop. Along with their foreign partners, private players have brought about a sea change in the product offering, distribution and underwriting processes, and services levels. Yet, India's insurance penetration needle has not moved much.
Bharti will move FIPB soon for increasing Axa's stake to 49%
I would advise at least a 7 year investment time frame for Equity Investing
The cutback on export credit refinance facility is another step towards a shift away from sector-specific liquidity allocations.
The industry's reactions to the Budget have been mixed.
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