Latest news with #AngelOne
Business Recorder
7 hours ago
- Business
- Business Recorder
Indian shares fall as earnings weigh on IT
MUMBAI: Indian shares fell on Thursday, weighed down by post-earnings losses in information technology and consumer stocks, and as financial services firms declined after a three-day rally. Investors remained on watch for trade talks with the United States amid an imminent free-trade agreement with the UK. The Nifty 50 settled 0.63% lower at 25,062.1 points while the BSE Sensex lost 0.66% to 82,184.17. Eleven of the 16 major sectors fell, with IT and consumer shares leading the losses with 2.2% and 1.1% declines, respectively. India's broader smallcaps and midcaps lost 1.1% and 0.6%. 'Domestic factors drove the market on the day,' Aamar Deo Singh, senior vice president at Angel One, said.
Business Recorder
15 hours ago
- Business
- Business Recorder
Indian shares fall as earnings weigh on IT, consumer names
Indian shares fell on Thursday, weighed down by post-earnings losses in information technology and consumer stocks, and as financial services firms declined after a three-day rally. Investors remained on watch for trade talks with the United States amid an imminent free-trade agreement with the UK. The Nifty 50 settled 0.63% lower at 25,062.1 points while the BSE Sensex lost 0.66% to 82,184.17. Eleven of the 16 major sectors fell, with IT and consumer shares leading the losses with 2.2% and 1.1% declines, respectively. Indian benchmarks shares track global rally India's broader smallcaps and midcaps lost 1.1% and 0.6%. 'Domestic factors drove the market on the day,' Aamar Deo Singh, senior vice president at Angel One, said. 'We are seeing some profit booking and investors are also looking at corporate earnings. Earnings remain key for Indian market to arrest their underperformance to global equities.' India's benchmark indexes have fallen about 1.8% this month against a 4% jump in MSCI's broadest index for Asia-Pacific stocks outside Japan. On the day, among IT names, Coforge and Persistent Systems fell 9.4% and 7.7%, while Infosys shed 1.4% after their results, as investors worried about demand for India's $283 billion IT sector. Consumer giant Nestle India dropped 5.3%, dragging its peers lower as its profit declined on raw material costs and expenses tied to its manufacturing expansion. Heavyweight financials fell 0.6% as traders took profits following a 2.5% jump over the last three sessions. Indian Energy Exchange slumped nearly 30% on concerns of market share loss from a planned overhaul of electricity pricing rules. Tata-owned retailer Trent lost 3.8% after Goldman Sachs downgraded the stock to 'neutral' from 'buy'. Dr Reddy's gained 1.5%, boosted by the drug maker's plan to launch a generic obesity drug in 87 countries next year.
Reuters
19 hours ago
- Business
- Reuters
Indian shares fall as earnings weigh on IT, consumer names
July 24 (Reuters) - Indian shares fell on Thursday, weighed down by post-earnings losses in information technology and consumer stocks, and as financial services firms declined after a three-day rally. Investors remained on watch for trade talks with the United States amid an imminent free-trade agreement with the UK. The Nifty 50 (.NSEI), opens new tab settled 0.63% lower at 25,062.1 points while the BSE Sensex (.BSESN), opens new tab lost 0.66% to 82,184.17. Eleven of the 16 major sectors fell, with IT (.NIFTYIT), opens new tab and consumer shares (.NIFTYFMCG), opens new tab leading the losses with 2.2% and 1.1% declines, respectively. India's broader smallcaps (.NIFSMCP100), opens new tab and midcaps (.NIFMDCP100), opens new tab lost 1.1% and 0.6%. "Domestic factors drove the market on the day," Aamar Deo Singh, senior vice president at Angel One, said. "We are seeing some profit booking and investors are also looking at corporate earnings. Earnings remain key for Indian market to arrest their underperformance to global equities." India's benchmark indexes have fallen about 1.8% this month against a 4% jump in MSCI's broadest index for Asia-Pacific stocks outside Japan (.MIAPJ0000PUS), opens new tab. On the day, among IT names, Coforge, opens new tab( opens new tab and Persistent Systems, opens new tab( opens new tab fell 9.4% and 7.7%, while Infosys ( opens new tab shed 1.4% after their results, as investors worried about demand for India's $283 billion IT sector. Consumer giant Nestle India ( opens new tab dropped 5.3%, dragging its peers lower as its profit declined on raw material costs and expenses tied to its manufacturing expansion. Heavyweight financials (.NIFTYFIN), opens new tab fell 0.6% as traders took profits following a 2.5% jump over the last three sessions. Indian Energy Exchange ( opens new tab slumped nearly 30% on concerns of market share loss from a planned overhaul of electricity pricing rules. Tata-owned retailer Trent lost 3.8% after Goldman Sachs downgraded the stock to "neutral" from "buy". Dr Reddy's ( opens new tab gained 1.5%, boosted by the drug maker's plan to launch a generic obesity drug in 87 countries next year.
Time of India
2 days ago
- Business
- Time of India
Angel One to invest Rs 400 cr in life insurance JV with Singapore's Livwell
Mumbai: Domestic brokerage Angel One on Wednesday announced a plan to invest at least Rs 400 crore in a life insurance company in a joint venture with Singapore's Livwell Holding Company . The domestic company, which has interests across the financial services landscape, will hold a 26 per cent stake in the venture while its Singaporean partner will hold the rest 74 per cent, a statement said. Explore courses from Top Institutes in Please select course: Select a Course Category others Public Policy Degree Others Healthcare PGDM Management Product Management Technology Data Science Finance Leadership MBA Data Analytics Data Science CXO Project Management Cybersecurity Digital Marketing MCA healthcare Artificial Intelligence Design Thinking Operations Management Skills you'll gain: Duration: 16 Weeks Indian School of Business CERT - ISB Cybersecurity for Leaders Program India Starts on undefined Get Details This will be a 'digital-first' life insurance company, the statement said, adding that India is "overwhelmingly" under insured. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Indonesia: New Container Houses (Prices May Surprise You) Container House | Search ads Search Now Undo "As India embraces digital financial services, insurance too must be accessible, transparent and seamlessly delivered through trusted platforms," Angel One's group chief executive Ambarish Kenghe said. Wilf Blackburn , ex-regional CEO of Prudential Asia, is proposed to chair the proposed venture, while Nikhil Verma , former deputy CEO of Aviva Vietnam, is proposed to lead as CEO. Live Events Livwell is backed by PE major Olympus Capital, who has other bets including HDFC Bank , CreditAccess Grameen , Thai Credit Bank, Karur Vysya Bank , Utkarsh SFB and CreditAccess Life Insurance. "India presents a unique opportunity not just because of the protection gap, but because consumer expectations have fundamentally evolved. With Angel One's digital reach and market credibility, we see a strong alignment to build a next-generation digital-insurer that is relevant to today's customers, accessible and future-ready," Verma said.
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Business Standard
2 days ago
- Business
- Business Standard
Angel One, LivWell announce ₹4 billion JV for digital life insurance
Angel One on Wednesday said it proposes to enter a joint venture with LivWell, a Singapore-based lifestyle and wellness-focused insurtech, to set up a digital-first life insurance company, subject to regulatory approvals. Angel One is proposed to hold a 26 per cent stake in the company, with the remaining 74 per cent to be held by LivWell Holding Company PTE Ltd. In its press release, the company said: 'Angel One, India's leading FinTech platform, proposes to enter into a JV with LivWell to promote a digital-first life insurance company, subject to regulatory approvals. The proposed company, with a capital infusion of Rs 4.0 billion, is being co-promoted by Angel One Ltd (26 per cent) and LivWell Holding Company PTE Ltd (74 per cent), with a shared vision of redefining access to life insurance in India through technology and trust.' The proposed company will see a capital infusion of Rs 4 billion from both entities. LivWell is backed by Olympus Capital, an Asia-focused private equity firm with over $2.6 billion invested. Wilf Blackburn, former regional chief executive officer of Prudential Asia, is proposed to chair the venture, while Nikhil Verma, former deputy CEO of Aviva Vietnam, is proposed to lead as CEO. Angel One and LivWell aim to address underinsurance in the country with 'simple, reliable and protection-led offerings, backed by seamless digital experiences. The JV will focus on operating on a digital-first architecture, leveraging tech-driven automation and personalisation to make insurance affordable, accessible and aligned to real-life needs,' the release said. Ambarish Kenghe, group CEO at Angel One Limited, said: 'As India embraces digital financial services, insurance too must be accessible, transparent and seamlessly delivered through trusted platforms. This partnership also deepens our offerings across the financial lifecycle—bringing us closer to delivering a seamless, end-to-end experience across savings, investing and protection. The products sourced from this JV will help strengthen our digital distribution framework for the protection segment, further fortifying our long-term association with our clients.' 'At LivWell, we have seen how protection products, when delivered with simplicity and purpose, can drive meaningful impact at scale. In our first market, Vietnam, embedded, digital-first insurance models have demonstrated strong potential for scale, proving that trust and reach can go hand in hand. India presents a unique opportunity not just because of the protection gap, but because consumer expectations have fundamentally evolved. With Angel One's digital reach and market credibility, we see a strong alignment to build a next-generation digital insurer that is relevant to today's customers, accessible and future-ready,' said Nikhil Verma, CEO, LivWell.
