SBI LIFE INSURANCE COMPANY LTD Q3 RESULTS
Nifty at record high: Bharti Airtel, IndiGo among 317 stocks that hit 52-week highs
Bharti Airtel and IndiGo stocks soared to new all-time highs on Wednesday, with Bharti Airtel reaching Rs 1,545.85 (up 1.5%) and IndiGo climbing to Rs 4,944.60 (up 4.2%). Other stocks hitting their 52-week highs include IEX, ICICI General Insurance, Indian Hotels, Lupin, MCX, and SBI Life Insurance Company.
These largecaps have ‘strong buy’ & ‘buy’ recos and upside potential of over 25%
As far as Nifty is concerned, bulls have never left control so there is no point even talking about it. Now in the last few sessions, it is clear that bulls are once again making an attempt to control every corner of the street once again which is to improve the market breadth of all segments. But because valuations are high, one has to be cautious, while being bullish. The reason why we are being cautious is that valuations have once again begun to move from expensive to extremely expensive even if one takes into account the results from Q1. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.
Take notice! In a muted Q1 season, these 14 companies doubled sales and profits
14 companies with market capitalization exceeding Rs 2,500 crore demonstrated exceptional performance in Q1 2024, doubling their sales and profits. Top performers included Spright Agro and Diamond Power Infrastructure. The broader market saw mixed results with sectors like BFSI and automobile doing well, but oil marketing companies underperforming.
Life insurance in fierce battle to grab annuities market share
While the annuity market in India is still in its early stages, insurers believe it holds long-term growth potential. With rising life expectancy and higher income levels, the demand for annuity products is expected to soar.
Adani entity sells 2.76% in Ambuja Cement for Rs 4,251 crore
Billionaire Gautam Adani's entity, Holderind Investments, sold 2.76% stake in Ambuja Cements for Rs 4,251 crore through an open market transaction. GQG Partners purchased shares worth '1,679 crore, increasing its stake from 1.35% to 2.04%. SBI Life Insurance and NPS Trust were among other buyers. Adani Group plans to raise '30,000 crore by selling shares in listed firms to rebalance its $126 billion portfolio.
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Stock Radar: 20% rally in 3 months! This life insurance stock hit fresh record high in August; time to buy?
SBI Life Insurance Company experienced a 20% surge in the last three months, hitting a record high in early August before declining. Experts indicate the stock may continue its uptrend. Short-term traders should consider buying at Rs 1,750-1,730, with price targets of Rs 1,840-1,900 and a stop loss below Rs 1,660.
LIC plays the price game for growth, margins take a back seat, for now
LIC, India's largest insurance provider, shifted its growth strategy, focusing on expansion over margins. In Q1 FY25, it reported a 24% rise in value of new business due to a 21% increase in annualized premium equivalent. This strategy led to a rise in non-par segment premiums but a decline in overall margins.
Private life insurers take industry APE up 17% in July
In July, India's life insurance industry saw a 16.9% year-on-year growth in annualised premium equivalent (APE), largely driven by private insurers, who posted an 18% increase. LIC saw a 13.5% rise in APE. Total premiums collected in July reached ₹31,822 crore, a 14% year-on-year increase.
LIC stock portfolio surges to Rs 15 lakh crore, 95 stocks sold in Q1
Life Insurance Corporation of India's equity portfolio has nearly doubled in three years to Rs 15.72 lakh crore. In the June quarter, LIC reduced stakes in 95 stocks, including Bank of Maharashtra, while increasing investments in firms such as Infosys and TCS. Fund managers advise rotating into value sectors for optimal returns.
LIC to declare Q1 results today. Here's what to expect from PSU insurer
Life Insurance Corporation of India (LIC) released its Q1 results, revealing anticipations of a 9-33% annual premium equivalent (APE) growth and a 37% boost in value of new business (VNB). Yes Securities estimated APE at Rs 12,705 crore and VNB at Rs 1,780 crore, showing significant year-on-year increases.
Devyani International Q1 Results: Company reports net profit of Rs 22 crore versus loss YoY; revenue jumps 44%
For the June quarter, the company reported revenue from operations of Rs 1,222 crore, a 44% increase year-on-year, driven by improved ADS and store additions. In the corresponding quarter of the previous year, revenue was Rs 847 crore. Consolidated EBITDA for the quarter was Rs 220 crore, with margins at 18.3%, reflecting a 1.7% improvement compared to the previous quarter.
SBI Q1 Results: PAT rises marginally YoY to Rs 17,035 crore, beats estimates
SBI Q1 Results: The public sector lender reported PAT at Rs 16,884.29 crore in the year-ago period. The Street had estimated PAT at around Rs 16,786 crore. During the reported quarter, the interest earned amounted to Rs 1,11,526 crore, marking a 16% increase compared to the Rs 95,975 crore reported by the lender in the same quarter of the previous financial year. The bank's interest expenditure for the April-June quarter was Rs 70,401 crore, up from Rs 57,041 crore, representing a 23% year-over-year increase.
Q1 Results Today: SBI among 41 companies to announce earnings on Saturday
State Bank of India, India's largest public sector bank, is expected to report a slight decrease in profits for the first quarter of 2024 due to increased provisions, despite a projected 10% growth in net interest income.
These largecaps have ‘strong buy’ & ‘buy’ recos and upside potential of more than 25%
While the recent upmove in largecaps has made them cover some of the differential which has developed in the valuations between mid and large stocks, if one looks at the long term average, there is still a scope for mean reversion. But as an investor, even in a bull market, it would be better to stay prepared for a volatile phase. So a part of the incremental exposure should be going to largecap stocks. The reason: there is enough evidence of large caps doing relatively well in the corrective phase of the markets. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.
SBI Card Q1 Results: PAT flat YoY at Rs 594 crore, revenue jumps 11%
SBI Card's revenue for the quarter rose 11% from last year to Rs 4,359 crore, driven by a 24% increase in interest income. Earnings before credit costs also grew, up 25% from the previous quarter. While year-on-year revenue growth was strong, it remained flat compared to the previous quarter.
SBI Life shares climb 3% to 52-week high after Q1 results. Should you invest?
SBI Life reported a 36% increase in Q1 net profit to Rs 520 crore, leading to shares reaching a 52-week high. Analysts recommend buying the stock due to the company's growth and strategic advantages. Read the full article for details.
Q1 results today: Nestle, Tech Mahindra among 76 companies to announce earnings on Thursday
Companies like Adani Energy, Ashok Leyland, Canara Bank, Chalet Hotels, Cyient, Glenmark Life, Laurus Labs, L&T Foods, Mahindra Holidays, PNB Housing Finance, Venus Pipes, Vivanta Industries among others will also declare their results
SBI Life reports 36% increase in Q1 net profit
SBI Life Insurance reported a 36% increase in net profit to Rs 520 crore for the first quarter ended June 2024, compared to Rs 381 crore in the same quarter the previous year.
SBI Life Q1 Results: Net profit rises 36% YoY to Rs 520 crore; net premium income jumps 15%
SBI Life reported a Q1 standalone net profit of Rs 520 crore, up 36% from Rs 381 crore last year. Net premium income rose 15% YoY to Rs 15,105 crore from Rs 13,104 crore in the same quarter last year.
Q1 results today: L&T, Axis Bank among 67 companies to announce earnings on Wednesday
67 companies, including L&T, Axis Bank, Bajaj Finserv, and SBI Life, will release April-June 2024 results. L&T expects 8% growth. Axis Bank's net interest income is up 11%, with net interest margins down; it reported Rs 7,130 crore profit in March quarter compared to last year's loss. Results from various companies are anticipated.
Q1 results today: HUL, Bajaj Finance among 34 companies to announce earnings on Tuesday
Q1 Results Today: HUL, Bajaj Finance, ICICI Sec, and ICICI Pru Life will release Q1 results. HUL's profit is estimated at Rs 2,479-2,562 crore, revenue Rs 14,925-15,451 crore. Bajaj Finance expects 26% net interest growth, 30% AUM rise. EBITDA to grow 0.4% YoY. Parag Milk Foods, Gard Furnace, Thyrocare Technologies to report, Bajaj Finance's March profit was Rs 3,824 crore.
Budget 2024, Q1 earnings action among 11 factors to impact D-Street mood this week
The short-term trend of Nifty seems to have reversed from all-time highs, Nagaraj Shetti of HDFC Securities said. The formation of candle patterns as per daily and weekly charts indicate the possibility of more weakness in the market ahead, he warned.
A Swiss company cheered up Kotak Mahindra Bank amid RBI's glare
Kotak Mahindra Bank's Q1 FY25 profit surged nearly 80% due to Zurich Insurance's acquisition of a 70% stake in Kotak General Insurance. The deal, completed in June 2024 for Rs 4,095.8 crore, added Rs 3,013 crore to the bank's consolidated profit. Kotak now holds a 30% stake in the insurance venture.
HDFC Life shares rise 2% post Q1 results. Should you buy, sell or hold?
HDFC Life Insurance Company reports a strong Q1FY25 with a 15% YoY growth in net profit. Brokerages maintain buy ratings with target prices ranging from Rs 765 to Rs 819. The company faces challenges but remains optimistic about future growth.
Q1 results today: Jio Financial, SpiceJet, HDFC Life among 36 companies announce earnings on Monday
HDFC Life, Jio Financial, HDFC AMC, Angel One, SpiceJet, and 36 other companies including Hatsun Agro, KBC Global, Kelton Tech, Modern Engineering, Monarch Networth Capital, Oasis Securities, Rajoo Engineers, Sheetal Cool Products, Tahmar Enterprises, Styrenix Performance will announce Q1FY25 earnings. Important aspects to watch include HDFC Life's APE and VNB estimates.
Insurers likely to report robust growth amid market tailwinds
APE growth in private insurers, driven by buoyant equity markets, faces VNB margin pressure from ULIPs and group pricing. Q1FY24 growth slowed due to high-value policy sales before tax changes. LIC shows 15% APE growth. HDFC Life (17-18% APE), ICICI Prudential Life (40% APE), SBI Life (18% APE), and Max Life Insurance (19% APE) report strong growth.
Bain Capital-backed Emcure Pharma mobilises Rs 583 cr from anchor investors
Emcure Pharmaceuticals has allocated 57.8 lakh equity shares to 48 funds at the upper end of the IPO price band, raising Rs 582.6 crore. The public subscription for the IPO will commence on July 3rd and conclude on July 5th.
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