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General insurance, especially the motor and health segments, has seen rapid growth in the country in recent years with a rise in vehicle sales and improved awareness following the Covid-19 pandemic and resultant medical costs

Even though relatively muted demand and weak pricing impacted profitability of the country’s largest cement producer, the hit was offset by some of the other costs declining as compared to the previous year

The rupee fell to a record low of 83.6625 per dollar, down 0.1% week-on-week. Likely RBI intervention in the NDF market curbed losses. Dollar bids from two large foreign banks added pressure.

Gainers & Losers: Paytm, RVNL among 6 stocks that hogged limelight on Friday​

Paytm’s financials were mainly impacted by the disruption caused to its associate entity Paytm Payments Bank’s business, which resulted in Paytm losing its high margin payment products like bank accounts and prepaid wallets.

The 30-share BSE benchmark Sensex tumbled 739 points, or 0.91%, to settle at 80,604. The broader NSE Nifty plunged 270 points, or 1.09%, to end at 24,531. Among the Sensex stocks, Tata Steel, JSW Steel, Tata Motors, NTPC, UltraTech Cement, and Tech Mahindra were the top laggards, falling 3-5%. Except for Infosys, ITC, Asian Paints, and HCL Tech, all Sensex constituents ended in the red.

Both Sensex and Nifty have risen over 5% each, reaching record highs in the last one month. This surge is attributed to the policy stability of the new Modi government and optimistic growth-oriented Budget expectations from Finance Minister Nirmala Sitharaman. According to a market analysis by ETMarkets, in the last 10 Budgets, the Sensex has shown positive returns six times on the day before the Budget, while it has declined on four occasions.

The Nifty Bank index closed 0.67 per cent down at 52265.6.

The mining major has various projects under execution having high potential for increasing volume, business integration, and enhancing the range of value-added products across its businesses.

Bharti Airtel is close second to LIC with a gain of 68.2% in the same period, while the country’s largest public sector lender State Bank of India (SBI) gained 47.64%, according to the stock exchange data.