Latest news with #135
Business Standard
a day ago
- Business
- Business Standard
Axis Max Life Declares Rs2,135 Cr. Participating Bonus for FY25; Reaffirms Commitment to Long-Term Value Creation
VMPL New Delhi [India], June 9: Axis Max Life Insurance Ltd. formerly known as Max Life Insurance Company Ltd ("Axis Max Life"/ "Company"), has announced a Participating (PAR) bonus of Rs2,135 Crore for eligible policyholders for FY24-25. This marks the Company's 23rd consecutive annual bonus and takes the cumulative bonus declared over the past 23 years to Rs15,847 Crore*. The declared bonus will enhance the corpus of more than 21 lakh eligible PAR policyholders, beginning July 2025. Axis Max Life continues to drive long-term value through a disciplined investment strategy and prudent fund management--reflected in the PAR Fund** growing from Rs67,722 Cr. in FY24 to Rs74,119 Cr. in FY25, a CAGR of ~19% over the past decade. Prashant Tripathy, CEO and Managing Director, Axis Max Life, said, "This year's bonus declaration reflects our steady commitment to delivering sustained value for policyholders through prudent and disciplined fund management. In a volatile macro environment, our PAR Fund has continued to demonstrate resilience driven by strong asset quality and consistent performance. With enhanced bonus options and built-in liquidity, we're enabling customers to navigate their evolving financial priorities with confidence and flexibility." Axis Max Life operates one of the largest PAR Fund among Indian private life insurers and remains one of the few companies offering customers the flexibility to choose from multiple bonus options--Cash Bonus, Accumulated Bonus, Paid-Up Additions (PUA), and Premium Offset--along with liquidity through partial withdrawals of bonuses without affecting the Basic Sum Assured. The Axis Max Life PAR Fund has delivered consistent debt returns in the 7.4%-8.4% range over the last five years, backed by the steady performance of its debt assets. Axis Max Life continues to strengthen its PAR product portfolio through innovative offerings like the Smart Wealth Income Plan, Smart Wealth Advantage Growth Par Plan, Whole Life Super, Monthly Income Advantage Plan, and Savings Advantage Plan combining liquidity, protection, and retirement benefits--expanding its reach across customer segments seeking both growth and stability. About Axis Max Life Insurance Limited ( Axis Max Life Insurance Limited, formerly known as Max Life Insurance Company Ltd., is a Joint Venture between Max Financial Services Limited ("MFSL") and Axis Bank Limited. Axis Max Life Insurance offers comprehensive protection and long-term savings life insurance solutions through its multi-channel distribution, including agency and third-party distribution partners. It has built its operations over two decades through a need-based sales process, a customer-centric approach to engagement and service delivery and trained human capital. As per annual audited financials for FY2024-25, Axis Max Life has achieved a gross written premium of INR 33,223 Cr.
Yahoo
5 days ago
- Business
- Yahoo
To Hold or Fold Archer Aviation Stock as eVTOL Adoption Grows?
The global eVTOL (electric vertical takeoff and landing) market experienced notable developments in 2024, marked by significant growth and technological advancements, with North America constituting a significant share of this market. Archer Aviation Inc. ACHR, a U.S.-based company currently working through certification with the Federal Aviation Administration (FAA) and other global aviation authorities to commercialize its Midnight eVTOL aircraft, thus stands to benefit from the aforementioned growth trend. As intensifying urban congestion and the growing need for modern transport alternatives continue to drive the growth momentum of the eVTOL industry, growth investors interested in aerospace stocks might want to buy more stakes of ACHR. However, one should be mindful of evaluating the company's inherent historical performance, growth prospects, valuation and limitations (if any) before making an investment based solely on industry trends. Let's find that out for Archer Aviation. Archer Aviation's shares have surged a solid 181% in the past year, outperforming the Zacks Aerospace-Defense industry's growth of 20.1% as well as the broader Zacks Aerospace sector's gain of 19.3%. It has also surpassed the S&P 500's return of 11.3% in the same time frame. Image Source: Zacks Investment Research A similar stellar performance can be seen in the one-year performance of other industry players, such as Joby Aviation JOBY and Embraer ERJ, which are also involved in the eVTOL market. Notably, shares of ERJ have surged a solid 70.1%, while those of JOBY rose 52.9% in the past year. Archer Aviation's aforementioned surge has been fueled by key developments surrounding its Midnight aircraft and expanding presence in both commercial and defense sectors. The company received FAA Part 135 certification last year, enabling it to begin limited commercial operations ahead of the aircraft's full launch. It ended 2024 by securing occupancy approval for its high-volume manufacturing facility in Georgia, aiming to begin production in early 2025 and scale to 650 units annually by 2030. ACHR started 2025 by raising $301.8 million in equity capital to accelerate the development of its hybrid aircraft platform, particularly for defense applications. In April, it secured design approval to convert a helipad at the Abu Dhabi Cruise Terminal into the city's first hybrid heliport, paving the way for early Midnight air taxi services with Abu Dhabi Aviation. Most recently, Archer launched the next phase of flight testing for Midnight, featuring piloted flights that demonstrated both vertical and conventional take-off and landing capabilities. These advancements not only enhance operational flexibility but also reinforce the aircraft's readiness for commercial deployment. Collectively, these milestones positioned ACH favorably in the evolving eVTOL space. As increasing demand for urban air mobility, along with growing technological advancements in sustainable transportation solutions, continues to bolster the growth prospects for the global eVTOL market, industry players like ACHR, JOBY and ERJ should gain substantially in the coming years. To this end, a market research firm, Fortune Business Insights, expects the global eVTOL aircraft market to witness a CAGR of 23.1% in the 2021-2028 market growth trends bolster Archer Aviation's prospects, especially once its Midnight jets become commercially available in the open market. Let's take a sneak peek at ACHR's near-term earnings estimates to check if that also reflects the same. The Zacks Consensus Estimate for second-quarter and full-year 2025 earnings indicates a year-over-year improvement. The consensus estimate for 2026, however, mirrors a declining trend. The consensus mark for its near-term earnings implies an upward revision over the past 60 days, indicating enhanced investor confidence in the stock's earnings growth capabilities. Image Source: Zacks Investment Research Image Source: Zacks Investment Research Based on short-term price targets offered by nine analysts, Archer Aviation is currently trading 17.2% below its average Zacks price target. Image Source: Zacks Investment Research Although Archer Aviation shows potential in the near term, its long-term viability is uncertain as the eVTOL market remains nascent. ACHR's success depends on its ability to design, certify, and scale production, while also relying on evolving market demand. Public acceptance of eVTOLs may be delayed by concerns over safety, noise, and affordability, potentially slowing mass adoption. Further, ACHR is yet to generate revenues, raising concerns about its ability to deliver shareholder value. Until it commercializes its Midnight aircraft and builds a strong customer base, long-term returns may remain limited. Its negative Return on Invested Capital (ROIC), which trails the industry average (as one can see below), further justifies that. Image Source: Zacks Investment Research ACHR's industry peer, JOBY, also holds a negative ROIC. However, another of ACHR's industry peers, ERJ, boasts a positive ROIC of 14.24, which is also higher than the industry's level. While Archer Aviation has made notable strides in flight testing, partnerships, and market positioning, its lack of revenues and negative ROIC raise red flags for long-term investors. Therefore, investors may be better off adopting a wait-and-watch approach rather than investing in ACHR stock right now. However, those who already own this Zacks Rank #3 (Hold) stock may continue to do so, considering the stellar performance in the past year, upward revision in earnings estimates and the upside in its price target. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Embraer-Empresa Brasileira de Aeronautica (ERJ) : Free Stock Analysis Report Joby Aviation, Inc. (JOBY) : Free Stock Analysis Report Archer Aviation Inc. (ACHR) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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New Straits Times
27-05-2025
- Business
- New Straits Times
MARKET PULSE PM MAY 27, 2025 [WATCH]
KUALA LUMPUR: News on stock, crypto and ringgit moves. Bursa Malaysia closed lower today, in line with the broadly negative performance across the region. Key Asian markets ended mostly lower as investors are cautiously awaiting the latest developments on Donald Trump's trade war. The FBM KLCI is likely to stay in a consolidation phase in the near term, as cautious sentiment prevails amid rising global uncertainties. Meanwhile, the ringgit weakened against the US dollar to 4.2350. In the crypto market, Bitcoin rose to RM464,968 as traders looked ahead to key price data. Ethereum traded higher at RM11,135, while Solana was up at RM743. That's it for Market Pulse.
New Straits Times
05-05-2025
- Automotive
- New Straits Times
Teen's hand caught in motorcycle spokes during road crash
BALIK PULAU: A teenage boy was injured when his hand became caught in the spokes of a motorcycle wheel during a road accident near Masjid Jamek Permatang Pasir earlier today. A spokesman from the state Fire and Rescue Department said the boy was riding as a pillion passenger when his raincoat became caught in the motorcycle's wheel assembly, causing his hand to become lodged. "Emergency services were notified at 9.44am. "However, by the time they arrived at the scene, members of the public had already freed the boy's hand," he said. The incident, which occurred at around 9.40am, involved a Yamaha LC 135 motorcycle. The boy was taken to a local hospital for medical treatment.
Zawya
28-04-2025
- Business
- Zawya
Saudi Awwal Bank records $560mln net profit for 1Q 25
Ms. Lubna S. Olayan, Chair of the Board of Directors of Saudi Awwal Bank (SAB), announced on Sunday the bank's financial results for the period ending 31 March, 2025. For the first three months of 2025, SAB recorded net profit after zakat and income tax of SR2,135 million, representing a 5% year-on-year increase. Total operating income rose 5% to SR3,620 million. Lubna Olayan, Chair of SAB, commented: 'Despite challenging global macroeconomic conditions, we remain confident in Saudi Arabia's growth story and proud of SAB's role in supporting growth through disciplined and quality focused funding. SAB achieved an 8% growth in total loans quarter-on-quarter, driven by robust retail loan growth of 6% and an 8% growth in corporate activity. Net loans and advances reached SR279 billion, marking 22% growth from SR229 billion in 1Q24. Customer deposits also increased to SR290 billion, up 9% from SR266 billion in 1Q24. Meanwhile, total equity rose 14% from SR63 billion in 1Q24 to SR72 billion. Despite a lower interest rate environment, SAB's net special commission income continued to grow, reflecting the bank's increased resilience and operational strength. We are proud to be the partner of choice for internationally-minded customers, and continue to play a leading role in supporting the growing number of cross-border customers coming into the Kingdom.' Ms. Olayan stated: 'We have maintained positive jaws, indicating effective cost management relative to income growth. Asset quality remains very strong, and our loan growth has been well-matched by strong deposit capture, ensuring a healthy funding base and a resilient capital position. As expected, this translated into a return on tangible equity of 15.8%. In addition, SAB had an exceptional quarter in corporate loan originations diversified across a number of key sectors. Our mortgage business achieved its best quarter since 1Q24 with a closing mortgage portfolio of SR38bn – marking 2x increase in size from when SAB commenced the strategy. In recognition of our efforts to integrate sustainability as a core strategic pillar across operations, we are proud that SAB was recognized as the 'Sustainability Program of the Year 2024' at the Saudi Capital Markets Forum, making the bank the first financial institution in the Kingdom to receive this recognition. The award acknowledges the bank's prominent role in advancing environmental, social, and corporate governance practices within the Saudi economy and market. In addition, Global Finance also honored SAB as the 'Best Trade Finance Provider' marking our fifth consecutive year receiving the recognition. Ms. Olayan added: 'Our results reflect our strategic direction, characterized by robust revenue growth and solid loan performance. As we navigate a dynamic global environment, our commitment to innovation and sustainability, in addition to our strategic partnership with HSBC, position us well to capitalize on future opportunities. This progress could not have been achieved without the commitment and support of our board members, senior management team, and employees. I would also like to thank our regulators — the Saudi Central Bank and the Capital Market Authority — for their guidance and assistance.' Saudi Awwal Bank (SAB) is one of the largest banks in the Kingdom, with a history in Saudi Arabia spanning over 90 years. Over the past nine decades, it has been an active partner in supporting the Kingdom's economic growth and social development. SAB is a leading corporate and institutional international bank in the Kingdom with a top Wealth & Personal Banking proposition. SAB is also a leader in trade finance, foreign exchange, debt wholesale banking, digital service innovation, and ESG, in Saudi Arabia and the broader region. SAB offers integrated financial and banking services, including corporate banking, investment, private banking, and treasury. The bank's paid-up capital is SR 20.5 billion, following its legal merger with Alawwal Bank on 14th March 2021, when it was formerly known as the Saudi British Bank (SABB). SAB operates under the supervision and regulation of the Saudi Central Bank, and is a partner of the HSBC Group.
