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The joint venture of Jio Financial Services and BlackRock to foray into India's asset management space could be disruptive but not disastrous for incumbent industry players, analysts said on Thursday. As an investment strategy, analysts suggest investors stay put in shares of those AMCs that consistently improve business metrics, and where market capitalisation-to-asset under management (AUM) valuation is not stretched. However, growth expectations of incumbent players may get trimmed in the medium-to-long term, analysts said, once the Jio-BlackRock JV unveils its plans, discounting the looming challenge as significant enough to dent their profitability.
Unlike Reliance Jio's focus on 4G, it plans to segment the data market based on device prices and spectrum.
The company, which is the biggest stakeholder in DreamWorks Animation Studios, is in talks with bankers to identify and acquire up-and-coming mobile game studios in North America and Europe to boost sales
Billionaire Mukesh Ambani has set targets for his three kids whom he has identified for takeover of telecom, retail and new energy business. Speaking at his father Dhirubhai's anniversary, celebrated as Reliance Family Day, he said the oil-to-telecom-to-retail conglomerate Reliance industries Ltd has embarked on a journey of comprehensive self-transformation. "The end of 2022 is when Reliance will have crossed the half-way mark of its Golden Decade.
Riding on a strong stock market rally, Anil Ambani-led diversified business conglomerate Reliance Group has crossed Rs one lakh crore market valuation.
The official explained that the contractor would take the worst-case scenario into account "to be on the safe side", when working out the field development plan and the probable cost of exploration and development of the block.
In a memorable year for the equity market, Dalal Street investors added a whopping Rs 81.90 lakh crore to their wealth in 2023 as a raft of positive factors powered a stellar rally in stocks. Experts said India's strong macroeconomic fundamentals, political stability owing to the BJP's success in recent elections in three significant states, optimistic corporate earnings outlook, signals from the US Federal Reserve about three prospective rate cuts next year and heavy retail investors participation played a major role in fuelling the stock market rally in 2023. In the year 2023, the 30-share BSE Sensex jumped 11,399.52 points or 18.73 per cent.
A founding member franchise of Indian Premier League, Mumbai Indians is a two-time winner of the T20 League in 2013 and 2015 and an equal number of Champions League T20 titles.
Mukesh Ambani doesn't need my support but the agitation against Reliance shops in UP and West Bengal does draw attention to a certain sneaky trait in Indian life.
Pvt life insurers are planning to foray into health covers, with standalone health insurance policies.
Unlike many actors-turned-new parents, Alia Bhatt and Ranbir Kapoor did not pose for photographs after being discharged from the hospital.
'A key reason for the strong interest in IPOs has been an increased focus on profitability and reasonable pricing of deals.'
The agency filed an affidavit opposing the bail plea of dismissed police officer Sachin Waze, a prime accused in the cases related to the Antilia bomb scare and subsequent killing of businessman Mansukh Hiran.
In the largest foreign investment in life insurance after the Reliance-Nippon deal last year, Japan's Mitsui Sumitomo (a unit of MS&AD Insurance Group Holdings) will buy 26 per cent stake in Max New York Life (MYNL) for Rs 2,731 crore (Rs 27.31 billion).
'I assume Ramachandra Guha's neglect of this aspect of Gandhi grows out of the belief that Gandhi's life had no central text,' says Rudrangshu Mukherjee, professor of history, Ashoka University.
Seven of the top-10 valued firms suffered a combined erosion of Rs 1,54,477.38 crore in market valuation last week, with IT majors Tata Consultancy Services and Infosys emerging as the biggest laggards. Last week, the BSE benchmark index tanked 812.28 points or 1.36 per cent. Reliance Industries Limited, ICICI Bank and State Bank of India were the only gainers in the top-10 pack.
Rediff readers share pictures and tell us how their lives have changed in the last decade.
In a joint presser with Israel Prime Minister Benjamin Netanyahu on Thursday, Blinken vowed his support to Tel Aviv and also lauded the bravery of Israeli citizens amid the ongoing conflict that has claimed the lives of over 1,300 Israelis.
Reliance Life's virtual office has become the focal point of real-time interactions for its customers, agents and employees. It offers consumers the ability to review insurance claims and manage their plans; perform online transactions, such as ordering policies; access a consolidated, interactive snapshot of their retirement plans; and receive personalised health and investment news.
By contrast, the fraud enabled Raju's kin and aides to make hundreds of crores, charges CBI.
Here's a quick at the two cousins, Akash and Anmol.
A young couple sharing a laugh - in the living room over a Polish joke book, on the beach, in the rain - with the tagline, "Made for each other", hung from billboards at prominent street corners from the 1960s to the 1990s. It was a campaign for one of the largest selling cigarette brands in India, Wills (Navy Cut) from the ITC stable, that resonated with a generation of smokers and non-smokers alike till the curtains came down on tobacco advertising in 2004. As we prepare to welcome 2024, ITC has metamorphosed from a tobacco giant into a conglomerate straddling multiple large-sized businesses. In the mind space of Gen Z or millennials, the company represents a gamut of branded products - from frozen food (ITC Master Chef), noodles (YiPPee!), and cookies (Sunfeast) to snacks (Bingo!) and notebooks (Classmate), and so on and so forth.
Anil Dhirubhai Ambani Group's Reliance General Insurance has become the second largest non-life private insurer, toppling Bajaj Allianz, in terms of premium collections of Rs 221 crore (Rs 2.21 billion) in April.
Australia's cricketing DNA is constructed by meticulousness and Pakistan's by explosiveness.
rediffGURU Nikunj Saraf suggests considering small-cap, mid-cap, and multi-cap mutual funds.
Primarily trained for a career in FMCG, he shifted to insurance when the opportunity came his way.
The combined market valuation of three of the 10 most valued domestic firms eroded by Rs 73,630.56 crore last week, with Reliance Industries Limited taking the biggest hit. While HUL and ICICI Bank were the other laggards from the top-10 pack, TCS, HDFC Bank, Infosys, LIC, SBI, HDFC and Bharti Airtel were the gainers. However, the combined gain of the seven firms at Rs 49,441.05 crore was less than the total loss suffered by the three companies.
Ahead of the Union Budget 2023, insurers are hoping that the Centre will act on their recommendations, which includes increasing the limit for tax deduction under 80D of the Income Tax Act. Also among them are issuance of long-term bonds, tax incentives for home insurance premiums, and a separate section to claim deduction for term-insurance premium, among others. These suggestions would help improve the penetration of insurance in the country.
Not all companies are generous with numbers these days - they're willing to share details of their core operations, but many of them are reluctant to let shareholders get even a glimpse of newer ventures
Penalty for unapproved policy changes allegedly reduced from Rs 17,500 crore to Rs 20 lakh
Penalty for unapproved policy changes allegedly reduced from Rs 17,500 crore to Rs 20 lakh
Indian drug companies, which have introduced copies of biotechnology drugs in the country, are bullish over the marketing prospects of 'biogenerics' after patents expire in developed markets. Experts say Indian companies may not repeat the success they achieved in selling generic medicines in biogenerics. The cost of clinical trials and the absence of substitutability will ensure that only those with deep pockets to launch such products globally will succeed, they feel.
The regulator has put a cap on the business a bank can get from a single insurer.
There are no bad children, just bad behaviour, insists Bhavana Nagendra.
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