ICICI Lombard General Insurance reported a net profit of INR 437 crore ($58.5 million) for the quarter ending 31 March, up 40% YoY driven by a 24% QoQ rise to INR 352 crore. Total income also increased 13% YoY to INR 5,255 crore. However, profits missed estimates amid competition in the motor insurance business. At 9:53 am the share price had fallen 3.8% but analysts mostly suggested holding or buying the shares, with Jefferies having a buy rating and target price of INR 1,560 ($20), which signifies a 43% upside.
FPI return to India may be tactical, not structural yet: HSBC MF’s Venugopal Manghat
Foreign investors are cautiously returning to Indian equities, but a durable FPI reallocation remains unconfirmed. HSBC Mutual Fund’s Venugopal Manghat highlights improving earnings, stable domestic
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