Sebi launches new verification agency to crack down on mis-selling
Sebi has launched the Past Risk and Return Verification Agency (PaRRVA) to combat mis-selling of investment products. This tech-driven system, linking credit rating agencies and stock exchanges, will independently verify past returns, ensuring transparency and consistency. The initiative aims to create a level playing field for investors and intermediaries by providing credible performance data and […]
ICICI Pru AMC IPO price band fixed at Rs 2,061-Rs 2,165, issue opens Dec 12
ICICI Prudential Asset Management Company’s ₹10,600 crore IPO will open on December 12, with shares priced between ₹2,061-2,165. The offering is entirely an offer for sale by UK-based Prudential Corporation Holdings, divesting a 9.9% stake. ICICI Bank also plans to increase its shareholding in the AMC.
General insurers log a premium November
India’s general insurance sector experienced robust growth in November. Gross direct premium income surged by 24 percent year-on-year. This expansion was fueled by increased motor sales and a rebound in retail health insurance demand. Standalone health insurers and private multi-line insurers showed significant gains, outpacing public sector competitors.
Fino Payments Bank shares plunge 11% after nod for small finance bank
Fino Payments Bank shares dropped significantly on Monday despite receiving an in-principle license to become a small finance bank. The Reserve Bank of India granted the license, but the holding company must reduce stakes held by key investors like Bharat Petroleum Corp and Blackstone GPV Capital Partners within 18 months.
Market breadth cracks deepen as ADR sinks to 10-month low
Despite calm headline indices, underlying market weakness is evident as the Advance-Decline Ratio hit a 10-month low in November, further declining in December. This indicates a shift towards caution, with investors favoring large-cap stocks over mid and small-caps, signaling growing strain beneath the surface.
Indices see steepest fall since Sept 25 despite rate cut boost
Indian stock markets experienced their sharpest fall since late September, with the Nifty dropping below 26,000. Investors adopted a cautious stance ahead of the US Federal Reserve’s policy decision, despite positive domestic growth figures and a recent rate cut. Global rate concerns and foreign fund outflows contributed to the downturn.