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The government plans to introduce a bill in the upcoming Winter session to raise FDI in the insurance sector to 100%, aiming to deepen penetration and boost growth. Amendments to the Insurance Act, 1938, LIC Act 1956, and IRDA Act 1999 are also proposed to strengthen financial security and encourage market entry.
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News and Media
Aditya Kumar Halwasia acquired 38 lakh shares in Karnataka Bank for Rs 71 crore, a deal executed at a premium. The smallcap lender, supported by Quant Mutual Fund, saw its stock jump nearly 8% amid significant volume spikes. Karnataka Bank's net profit improved quarter-on-quarter, while NPAs moderated.
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Eternal, a food delivery and quick-commerce platform, has stated that the new social security code will not negatively impact its long-term business prospects. The company is actively seeking clarity from the government on the exact financial and operational implications. Eternal anticipates these changes and is committed to the well-being of its gig workers, already providing insurance and welfare benefits.
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Mangal Electrical Industries' shareholder lock-in is expected to end soon. This could see nearly ten lakh shares become available for trading. The company manufactures components for transformers. Its shares have seen a decline since its market debut. Anchor investors include Abakkus Diversified Alpha Fund and Societe Generale. The company reported a profit fall in its September quarter results.
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News and Media
India's alternative investment sector is booming, with PMS and AIFs now managing over Rs 23.43 lakh crore. This remarkable growth, fueled by institutional investors and affluent individuals seeking alpha, has seen PMS assets surge sevenfold and AIF commitments skyrocket by nearly 50% annually. These investment avenues are becoming mainstream for wealth management.
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News and Media