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The Insurance Regulatory Authority of India has given insurers permission to launch group and individual unit-linked life and health insurance products without prior approval. While general insurance has been flourishing in India, the growth of life insurance moderated in April and May 2023 after a surge in March, just prior to regulatory changes. SBI Life is targeting a 20% CAGR in APE over FY23-2025; ICICI Lombard is expecting growth in the motor segment, health segment profitability improvements and benefits from the Bharti AXA merger to help improve the combined ratio and ROE.

The stock quoted a 52-week high price of Rs 608.65 and a 52-week low of Rs 380.95.

Despite weak performance in FY23, Indian oil and gas firms are expected to see revenue and margin growth in FY24 due to lower energy costs and a growing domestic consumer market, according to brokerage firms including Anand Rathi, Nuvama and Nirmal Bang. Firms such as GAIL, Gujarat Gas and Bharat Petroleum Corporation are among top picks. OMCs such as BPCL and IOCL also have strong dividend profiles and counter-cyclical prices, said Nuvama. However, fuel price reductions could pose a risk to earnings, as overall issues with crude prices continue to impact the sector.

A total of 18,969 shares changed hands on the counter till 02:04PM (IST).

Yes, sure you are right. We launched our small cap fund in the month of December 2020. So yes, within six months period and having what small cap as a segment is done, obviously happy to have products at the right time to our customers for investing in small caps.

On the technical charts, the RSI of the stock stood at 71.08.

Promoters held 29.33 per cent stake in the company as of 31-Mar-2023, while FII and DII ownership stood at 46.96 per cent and 11.37 per cent, respectively.

The primary market in India has experienced a weak first half with only eight companies launching IPOs, leading to earnings of Rs 5,800 crore. This is an 85% YoY drop compared to the same period in 2018. Inflation uncertainty and high interest rates made investors wary in the opening months, but sentiment picked up towards the close of H1. Mankind Pharma raised Rs 4,300 crore in its IPO, which was the largest issue launched by a drug maker since Gland Pharma in 2017. Analysts predict the remainder of the year will fare better than H1.

The stock traded at a P/E multiple of 57.64, while the price-to-book value ratio stood at 9.17.

Bitcoin fell by 2% to $30,221 on Monday, and Ethereum was trading below $1,900, reflecting a decline in the cryptocurrency markets. Despite a positive investor sentiment, the key challenge for Bitcoin is to maintain its position above the crucial US$30,000 level, according to Edul Patel, the CEO at Mudrex. The market cap of Bitcoin, currently around $586bn, was trading lower around $1.18tn, leading to a decrease of 2% in the global cryptocurrency market cap in the last 24 hours. Other top cryptocurrencies like Litecoin, Cardano, and Polygon declined over 3% each.