This is a good opportunity for long-term investors to pick quality small and midcap stocks at reasonable valuations.
India now has three companies in the global top 100 list in terms of market value: Reliance Industries (RIL) ranks 72, Tata Consultancy Services (TCS) is at 86 and HDFC Bank at 99.
Citigroup is expanding its relationship with Housing Development Finance Corporation beyond the stake it owns in the country's mortgage lender.
The average ticket size of retail health insurance in India has increased by nearly 48 per cent over 6 years due to elevated medical inflation and increased demand for higher coverage policies among policyholders. According to data by online insurance broker PolicyBazaar, the average ticket size of retail health insurance in India has increased to Rs 26,533 so far in FY24, up 48.22 per cent from Rs 17,900 in FY19.
'They have since only tried to improve systems. Also, with regulatory guidance from time to time, we are in a position to assess a situation and react in time.'
The amounts were transferred from HDFC Bank to BoB.
From April 1, when we buy insurance for a car or take out a health cover, insurance companies can offer a product totally customised for us.
HDFC Bank's customers will now be able to enjoy a complete suite of banking and commerce services over their mobile phones with the bank partnering with ngpay, a mobile solution brand from JiGrahak Mobility Solution.
Investors' wealth grew by Rs 3.24 lakh crore on Thursday as the BSE Sensex jumped nearly 1 per cent after a two-day slide. The 30-share BSE Sensex jumped 490.97 points or 0.69 per cent to settle at 71,847.57. During the day, it rallied 598.19 points or 0.83 per cent to 71,954.79.
Changes in lifestyle due to aspects like lockdowns and work from home has created additional demand for items such as television sets, laptops, Wi-Fi routers and even vacuum cleaners, which the bank is funding at present.
Among the Sensex firms, ITC, Kotak Mahindra Bank, ICICI Bank, Nestle, Axis Bank, IndusInd Bank, UltraTech Cement, Bajaj Finance, Maruti and HDFC Bank were the major laggards.
'We are working with a few housing finance companies to drive affordable lending because that's where we believe our sweet spot is.'
The unclaimed funds within the life insurance sector are higher from policies sold by agents as against other channels like bancassurance or a digital platform, said analysts and officials from insurance companies. Unclaimed life insurance funds refer to the proceeds of insurance policies including death or survival benefits not claimed by the beneficiary or the policyholder. Bancassurance means selling an insurance product through banks.
Trading in stock markets this week will be majorly influenced by the upcoming quarterly earnings from IT majors TCS and Infosys, along with global trends, analysts said. Besides, global oil benchmark Brent crude, rupee-dollar trend and trading activity of foreign investors would also dictate the movement, they said. "On the domestic front, all eyes will be on the beginning of corporate performance for the third quarter of the current fiscal year.
Brokerages have lowered the price targets of asset management companies (AMCs) since they failed to beat revenue growth expectations in the January-March quarter (fourth quarter, or Q4) of 2022-23 (FY23). The regulator's plans to lower the fee charged by AMCs also added to concerns. While HDFC AMC and Nippon Life India AMC reported modest growth in revenue from operations in Q4FY23, UTI AMC and Aditya Birla Sun Life AMC delivered yet another weak quarter.
Dalal Street investors became richer by Rs 9.68 lakh crore in five days of market rally, where the Sensex breached the historic 73,000-mark for the first time ever to reach a new record peak, taking the market capitalisation of BSE-listed companies to an all-time high of Rs 376 lakh crore. The 30-share BSE Sensex jumped 759.49 points or 1.05 per cent to settle at a new closing high of 73,327.94 on Monday. During the day, it zoomed 833.71 points or 1.14 per cent to reach its all-time peak of 73,402.16.
Among the Sensex firms, Mahindra & Mahindra, Bharti Airtel, ICICI Bank, IndusInd Bank, Reliance Industries, Axis Bank and HDFC Bank were among the major laggards. Titan, Kotak Mahindra Bank, Asian Paints, HCL Technologies, Tech Mahindra, NTPC, Nestle and Power Grid were the major gainers.
Equity benchmark indices Sensex and Nifty ended almost flat in highly volatile trade on Thursday amid the lack of any immediate trigger. The 30-share BSE Sensex dipped 5.43 points or 0.01 per cent to settle at 66,017.81. During the day, it hit a high of 66,235.24 and a low of 65,980.50.
HDFC Bank becomes first Indian lender to develop mobile banking app for Apple's latest offering in India.
The top 10 fund houses are slowly losing ground to their smaller peers, even as they continue to hold the lion's share in the total assets under management (AUM) of the mutual fund (MF) industry, according to an analysis of the quarterly AUM for the past six years. These fund houses had an average AUM of Rs 38.8 trillion in the third quarter (Q3) of 2023-24, which is 79 per cent of the total industry AUM of Rs 49.2 trillion. The share has come down steadily since Q3 of 2019-2020, when the share stood at 84 per cent.
Riding on a bull run, equity investors became richer by Rs 128.77 lakh crore in the 2023-24 fiscal, driven by robust fundamentals of the Indian economy, increased investment inflows and promising corporate earnings. After a muted performance in 2022-23, equity markets made a remarkable recovery in FY24, giving handsome returns to investors. The 30-share BSE Sensex climbed 14,659.83 points or 24.85 per cent in 2023-24.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Benchmark indices--Sensex and Nifty--were 0.7-0.8 per cent higher from the Saturday closing. Among the widely-tracked Nifty 50 stocks, 39 advanced and the rest 11 declined at the opening bell. Among the individual stocks, Cipla, ICICI Bank, Sun Pharma, Power Grid Corp, and Bharti Airtel were the top five gainers, while Asian Paints, Hindustan Unilever, Britania, HDFC Bank, and BPCL the losers, NSE data showed. On Monday, Indian stock exchanges were closed for trading on the occasion of Pran Pratistha of Ram Temple in Ayodhya.
Eight of the 10 most valued firms faced a combined erosion of Rs 1,17,493.78 crore in market valuation in an overall weak trend in equities last week, with Infosys taking the biggest hit. Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank and ICICI Bank were among the eight companies that suffered a decline in their valuation. ITC and State Bank of India were the only gainers. Last week, the 30-share BSE Sensex fell by 775.94 points or 1.28 per cent.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Shareholders had already approved his appointment in 2015 for a period of five years subject to RBI approval
Among the Sensex firms, IndusInd Bank, Maruti, Titan, Reliance Industries, NTPC, Mahindra & Mahindra, Larsen & Toubro, Kotak Mahindra Bank and HDFC Bank were the major laggards. UltraTech Cement, JSW Steel, Axis Bank, Tata Consultancy Services, Wipro and ITC were the major gainers.
It is ranked 7th on the list of world's top-10 consumer finance firms
Market regulator Sebi does not expect a large number of foreign portfolio investors to be impacted by the new beneficial ownership disclosure norms, according to sources. The norms are set to come into effect from February 1 and against this backdrop, the equity market has witnessed significant volatility, with the benchmark Sensex crashing over 1,000 points on Tuesday after shedding early intraday gains. The sources in the know said FPIs which may be required to provide enhanced disclosures are expected to be significantly less than estimated in the consultation paper and the Sebi board note of October 2023.
Housing Development Finance Corporation Ltd on Saturday decided to divest up to 10 per cent of its stake in HDFC Asset Management Company.
From the Sensex pack, Power Grid, Infosys, Asian Paints, Mahindra & Mahindra, HCL Technologies, IndusInd Bank, Tech Mahindra, Bajaj Finance, Wipro, Tata Consultancy Services, HDFC Bank and Titan were the major gainers. Tata Steel and Bharti Airtel were the laggards.
Which entrepreneur would willingly part with her or his hard-earned money for grasping, self-serving politicians? asks Debashis Basu.
Do you have financial planning queries? Ask rediffGURU Abhishek Dev.
The HDFC bank has bagged the annual Country Awards for Achievement from India conferred by Hong Kong-based publication Finance Asia.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
The domestic equity market, which is on a record-breaking spree, will focus on macroeconomic data announcements, movement in global stocks and the US Fed minutes to get further direction, analysts said. Trading activity of Foreign Institutional Investors (FIIs) will also innfluence investors.From the domestic macroeconomic front, Purchasing Managers' Index (PMI) data for the manufacturing sector will be released on Monday, and that o,f the services sector on Wednesday. Investors, this week, will keenly watch major global market events, icluding the outcome of the Federal Open Market Committee (FOMC) minutes, scheduled to be out on Wednesday.
Bajaj Finserv was the biggest gainer in the Sensex pack, rising 2.21 per cent, followed by Titan, ITC, Kotak Mahindra Bank, HDFC Bank, HDFC, Bajaj Finance, IndusInd Bank, ICICI Bank, HUL, Reliance Industries and Mahindra & Mahindra. Wipro, Tata Consultancy Services, Power Grid and Tech Mahindra were the laggards.
HDFC Mutual Fund on Thirsday completed acquisition of Zurich fund to become one of the largest players in the country.\n\n\n\n
Shares of most European banks are down significantly.
Among the Sensex firms, Bajaj Finance fell by nearly 3 per cent, the most among the 30 frontline companies. Bajaj Finserv, Axis Bank, HDFC Bank, Reliance Industries, NTPC, ICICI Bank and IndusInd Bank were the other major laggards. In contrast, Tata Motors, Sun Pharma, Maruti and Mahindra & Mahindra were the gainers.
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