ICICI Prudential Life reported a 19% YoY rise in Q3 PAT to Rs 387 crore even as net premium income fell 3.7%. VNB touched Rs 615 crore with strong margins, while AUM grew 6.5%. Retail protection APE surged over 40%, supported by GST reforms and rising policy volumes.
Balu Forge Industries shares surged up to 13% intraday after the company clarified that a recent Income Tax Department search concluded without finding any incriminating documents or unaccounted assets. The company confirmed no impact on business operations, providing relief to investors, including ace investor Ashish Kacholia.
CLSA has reiterated its Outperform rating on HDFC Bank, setting a target price of 1,200 and implying over 27% upside from current levels despite recent stock weakness. The brokerage views concerns over deposit growth and margins as temporary and expects FY27 to be a bounce-back year.
Metal stocks have seen a significant rally, with precious metals driven by geopolitical concerns and industrial metals like copper poised for growth due to AI investments. However, steel faces caution due to weak demand from China. The IT sector is bifurcated, with digital platforms showing long-term promise and traditional IT services anticipating AI-driven growth and margin improvements.
Proposed insurance commission reforms aim to align incentives with consumer interests, potentially causing near-term disruption for distributors but strengthening the sector long-term. Meanwhile, India's listed retailers face challenges sustaining high valuations as slowing growth is offset by margin improvements, driven by increased competition and shifting consumer purchasing habits.
The Federal Reserve chair is under a Justice Department criminal investigation concerning a $2.5 billion headquarters renovation. Prosecutors are examining if Jerome Powell misled Congress about the project's cost and scope. This development escalates White House tensions with the central bank and raises concerns about its independence.
Billionbrains Garage Ventures shares rose after Kotak Institutional Equities initiated coverage with a Buy rating. The brokerage forecasts strong earnings growth for Groww in the coming years. This growth is expected from areas like marginal trading facility and commodities. Operating leverage and margin expansion are also anticipated. Groww's product-first approach and tech focus are key strengths.
