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Sebi had also ordered the fund house to compensate investors who had redeemed their units since the date of allotment of shares in the I-Sec IPO.
After climbing to a record high of Rs 523 on September 30, shares of commodity major Vedanta have come off over 15 per cent amid a fall in the overall markets. The Anil Agarwal-led firm's latest slump comes after its stock price doubled over the past one year. Is it a blip or a trend reversal?
Many high-profile IPOs in India since 2021 have destroyed investor wealth due to overvaluation, weak business models, and post-listing disinterest, turning 1 lakh investments into as little as 3,500.
Sebi aims to stay proactive as HFT and quant firms like Citadel Securities, Optiver, Millennium, and IMC Trading are expanding rapidly in India, which is home to the world's largest derivatives market by contracts traded.
ICICI Lombard General Insurance Company reported financial improvement and optimistic commentary in Q4FY24. It reported 17 per cent year-on-year (YoY) growth in Gross Written Premium (GWP) and 115 bps improvement in the Combined Ratio (COR) in FY24, and improved COR guidance with COR going from 104.5 per cent in FY23 to 103.3 per cent in FY24, 102.4 per cent in FY25 and 102.0 per cent in FY26.
After lagging behind the broader market over the past three and six months, defence sector stocks have regained ground, reversing their performance from the past month. Concerns about slowing order inflows, execution hurdles, supply chain disruptions, and high valuations had weighed on the sector.
India's first $1 trillion company by market capitalisation (mcap) is achievable by 2032 and HDFC Bank and Reliance Industries (RIL) are seen as lead contenders, ICICI Securities said in a note on Monday. To achieve this, the shares of both the firms will have to appreciate at least 20 per cent annually for the next decade. ICICI Securities believes this is possible if India's gross domestic product (GDP) growth accelerates to 9 per cent per annum and corporate profitability cycle peaks. "Our calculations suggest that India's first $1 trillion mcap stock could emerge by 2032.
Ask rediffGURU Reetika Sharma your insurance mutual fund and personal finance-related questions.
Even as concerns grow over the residential real estate market reaching its peak, the outlook for office real estate remains strong, with listed real estate investment trusts (Reits) standing to benefit from sustained demand in the segment.
The top 20 fund houses held 6.8 per cent of their portfolios in cash as of May 31, down from a record high of 7.2 per cent in April 2025.
Delhivery share price dropped 6.6 per cent to a low of ?295.8 per share on the BSE on Monday after analysts cut their earnings estimate on the stock, following weak results for the December quarter (Q3) of the current financial year (FY25). Q3 is a seasonally strong quarter due to festive pick-up in demand.
ICICI Securities will be the first subsidiary to be listed, followed by two insurance subsidiaries and the home finance business, he added.
Larger listed domestic-focused tyre companies have underperformed the benchmarks in the last three months but exporter Balkrishna Industries has bucked the trend. The company, which exports off-highway tyres, has generated 43 per cent returns in this time compared to MRF and Apollo Tyres, which are down 5-10 per cent. In addition to better-than-expected performance in the March quarter, exports and market share gains have helped Balkrishna pull ahead of peers.
Bharti Airtel has quietly narrowed its adjusted gross revenue (AGR) market share gap with Reliance Jio, the country's largest player in the game, in the last three years. Despite Jio's aggressive entry into 4G and now into 5G, Airtel's gap with Jio, which was 6.4 percentage points in Q1 of FY21 and went up to 7.2 percentage points in Q1 of FY22, has fallen to only 4.4 percentage points in Q1 of FY24. Currently, Reliance Jio's AGR market share is 41.6 per cent while Airtel's is at 37.2 per cent.
ICICI Pru's IPO is being managed by 10 investment banks, including Bank of America Merrill Lynch and ICICI Securities
ICICI Prudential Life Insurance Company (IPru) is struggling to generate growth in the value of new business (VNB). This is due to a combination of weak growth through the parent bank's channels, a shifting product mix in favour of unit-linked life insurance policies (ULIPS), and higher payouts to third-party channels. Leverage from current investments, a further reduction in contributions from ICICI Bank, and a pick-up in non-participating policies from the end of the year is key for this metric in the near to medium term.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
If nominees pass away, distribution is governed by succession laws of insured's religion.
The ICICI Prudential Life Insurance Company's net premium income in the third quarter (October - December) of the current financial year (Q3FY24) swelled by 4.9 per cent year-on-year (Y-o-Y) to touch Rs 9,929 crore. Income from investment rose 111.3 per cent Y-o-Y to touch Rs 16,315 crore. The Annual premium equivalent (APE), and new business premium (NBP) increased by 4.8 per cent Y-o-Y. Both declined 7.5 per cent and 5.6 per cent respectively, quarter-on-quarter (Q-o-Q).
Once declared a dud stock, Suzlon has generated stellar returns for investors thus far this calendar year. On a year-to-date (YTD) basis, Suzlon's share price has doubled investor wealth by soaring 109.35 per cent on the bourses. By comparison, the benchmark BSE Sensex has gained just 11.2 per cent.
Bharti Airtel is expected to see its highest revenue growth, and subscriber addition during the third quarter (October-December) of FY25 among telcos, said analysts. The telco's top line in Q3 may see the fastest sequential growth at 5 per cent compared to 3 per cent for Reliance Jio and Vodafone Idea (Vi). Airtel's annual mobile revenue growth would rise to 16 per cent, IIFL Capital said in an analyst note.
Hyundai Motor India (HMIL) raised Rs 8,315 crore from anchor investors on Monday, setting the stage for the country's biggest-ever maiden share sale. The Indian arm of the South Korean carmaker Hyundai Motor Company (HMC) allotted 42.4 million shares to 225 funds at Rs 1,960 apiece, the higher end of its price band. Among the investors receiving allotments were the Singapore government's sovereign wealth fund (GIC), New World Fund, and Fidelity.
Leading brokerages have revised their charges with the true-to-label norms by the Securities and Exchange Board of India (Sebi) kicking in from Tuesday.
However, Tata Consultancy Services, Infosys, Tech Mahindra, UltraTech Cement, IndusInd Bank, Hindustan Unilever and ICICI Bank were the gainers.
Reliance Capital Asset Management Company (RCAM) and ICICI Securities Primary Dealership have been selected to manage Rs 60,000 crore (Rs 600 billion) provident fund corpus of coal industry workers.
India's financial sector is dominated by large government-owned and private-sector banks.
Even if you have a comprehensive motor insurance policy, it may not provide sufficient protection against monsoon-related risks.
'Increasingly, they treat gold as a financial asset in their portfolio rather than just as jewellery.'
Corporate India's net profit as a percentage of gross domestic product (GDP) dipped in the 2022-23 financial year (FY23) -- after rebounding sharply in FY22 -- amid a decline in global commodity prices. Top 500 companies' combined net profit stood at 4.1 per cent of the GDP for FY23, down from 4.3 per cent in the previous financial year when it had gone up from just 3.5 per cent in FY21. "The year-on-year (YoY) decline was led by global commodities, which contributed adversely to the ratio, while the financial sector contributed positively.
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.
IndiGo share price today: IndiGo share price fell as much as 4.8 per cent to a low of Rs 4,275 per share on the BSE in Monday's intraday trade as investors booked profit in the stock post a its April-June quarter (Q1) results for financial year 2024-25 (FY25). The stock ended 1.36 per cent lower at Rs 4,430 as against a 23-points gain in the benchmark BSE Sensex. The selling also got exacerbated as the management commentary, post Q1FY25 results, highlighted that inflationary pressure could likely dent July-September (Q2FY25) performance.
AUM heavyweights SBI, HDFC and ICICI Pru flex muscle, adding Rs 2 trillion+ each.
Asset Management Companies (AMCs) demonstrated improved business metrics in the first quarter ended June 2023 (Q1FY24), but a sharp run-up in stocks leaves little room for further upside in the immediate term, say analysts. During this quarter, HDFC AMC reported a 10 per cent year-on-year (YoY) rise in revenue from operations at Rs 575 crore. Nippon India's revenue from operations went up 12 per cent to Rs 354 crore.
An acute drug shortage in the US and stable pricing along with product launches are likely to boost revenues of India's pharmaceutical companies during the first quarter of this financial year, analysts said. Most brokerages estimate a top line growth of around 14-15 per cent, with earnings before interest, taxes, depreciation, and amortisation (Ebitda) growth of 24-30 per cent for Q1 of FY24. Hospitals are, however, likely to report lower occupancy rates, and diagnostics companies may witness an impact from delayed monsoon.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
ICICI Bank reported good results for the October-December 2023 quarter (Q3), with 24 per cent year-on-year (Y-o-Y) growth in profit after tax (PAT). Net interest margin (NIM) dropped 10 bps quarter-on-quarter (Q-o-Q) to 4.43 per cent. Credit growth was at 19 per cent Y-o-Y (4 per cent Q-o-Q), while deposit growth was at 19 per cent Y-o-Y (3 per cent Q-o-Q).
Some products offer terrorism cover as part of the base offering, while in others it is an optional cover.
The data for individual weighted received premium (WRP) showed divergent trends for life insurers in December 2024. Overall, the industry's individual WRP grew 4.8 per cent year-on-year (Y-o-Y); LIC's individual WRP declined 13 per cent while private players saw 11.4 per cent growth.
Headline growth was quite weak heading into the Covid period but averaged 6.4 per cent and 6.7 per cent in the five years between FY16 and FY20 for GVA and GDP respectively, points out Abhishek Upadhyay.
