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SBI Life Insurance, HDFC Standard Life Insurance hit new highs
Posted on 25th April 2018
Shares of life insurance companies were trading higher in otherwise subdued market with SBI Life Insurance Company and HDFC Standard Life Insurance Company hitting their respective new highs on the BSE on Wednesday.

ICICI Prudential Life Insurance Company (IPRU) has surged 11% to Rs 460, extending its Tuesday’s 7% gain after the company reported better than expected results for the financial year 2017-18 (FY18). On comparison, the S&P BSE Sensex was trading 0.16% lower at 34,563 points at 12:03 pm.

SBI Life was up 2% to Rs 762 in intra-day trade today, after gaining 4% on Tuesday. The stock trading at its highest level since listing on October 3, 2017, was up 9% against its issue price of Rs 700 per share.

HDFC Standard Life too hit a new high of Rs 512, up 2% on the BSE in intra-day trade today. Since listing on November 11, 2017, the stock rallied 45% as compared to 4% rise in the benchmark index. The company issued shares at price of Rs 290 per share.

New Business (NB) annual premium equivalent (APE) growth slowed down for the life insurance industry at 16% year-on-year (YoY) in FY18 (Vs 21% YoY FY17) as group business APE grew merely 1% YoY (Vs 21% YoY in FY17). Individual business APE continued to grow better at 19% YoY (21% YoY in FY17) as key private players such as SBI Life and HDFC SL clocked over 30% YoY growth.

Analysts at Prabhudas Lilladher believe new business APE growth to remain more or less at these level for FY19E as ULIPs which was driving the growth is likely to see lower growth this year) due to low demand as markets have turned more volatile and certain key players are not likely to be aggressive to grow in this segment as they look to maintain balanced product mix. Growth will be led mainly by protection products both individual and group; however ticket sizes are quite low for the individual segment.

The brokerage firm continue to like HDFC Standard Life and SBI Life due to strong growth while maintaining balanced product mix coupled with strong distribution and improving operating metrics.

“We have a BUY rating for SBI Life with target price of Rs 865 at 3.1x P/EV FY20E. However, HDFC SL has had a strong outperformance in the last six months compared to its peers. We believe that the valuations are fully priced in and we see very limited upside in medium term. We continue to like the company due to its strong operating metrics and see positive returns in long term,” the brokerage firm said in Indian Life Insurance sector update.

Related Companies: State Bank of India   

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SEBI COMES OUT WITH LIST OF 1,677 DEFAULTERS
Posted on 14th August 2018
As many as 1,677 entities, including individuals, failed to pay penalties imposed by Sebi till the end of May, according to the regulator.

The list of defaulters as on May 31, 2018 "for non-payment of penalty imposed by Sebi through orders passed up to December 31, 2017" has been published on the regulator's website on Monday.


SBI shares continue to fall; down over 3 per cent
Posted on 14th August 2018
New Delhi: Shares of State Bank of India continued to fall for the second straight session on Monday, dropping over 3 per cent after the lender reported a hefty loss of Rs 4,876 crore for the June quarter.

The stock went down 3.17 per cent to end at Rs 294.80 on BSE. Intra-day, it slumped 4.15 per cent to Rs 291.80. At NSE, shares of the company fell 2.54 per cent to close at Rs 296.70.


Bitcoin slips below $6,000 to lowest since June as almost every other crypto nosedives
Posted on 14th August 2018
Bitcoin dropped below $6,000 and dozens of smaller digital tokens tumbled as this month’s selloff in cryptocurrencies showed few signs of letting up. The largest digital currency fell as much as 6.2 percent to $5,887 as of 10:44 a.m. in Hong Kong, the lowest level since June, according to Bloomberg composite pricing. Ether sank 12 percent, while all but one of the 100 biggest cryptocurrencies tracked by Coinmarketcap.com recorded declines over the past 24 hours.

Debit cards: Paytm rules the roost in the virtual world but lags in real life
Posted on 14th August 2018
Given how every depositor gets a digital debit card, Paytm Payments Bank has in less than a year of its launch notched up a large outstanding debit card user base.

Reserve Bank of India (RBI) data show the mobile wallet-to-payments bank entity had 39.12 million outstanding debit cards at the end of May.


Air India says yet to receive equity infusion from government
Posted on 14th August 2018
National carrier Air India on Monday said it is yet to receive the equity infusion from the government to meet its working capital requirements after an airline’s pilots’ body claimed grounding of several aircraft due to lack of funds.

“There is no money for spares and maintenance of these aircraft. Some of them have been grounded for the last three months.


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