Latest news with #SumitMadan
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Business Standard
7 days ago
- Business
- Business Standard
Axis Max Life Insurance likely to grow 3-5% more than industry in FY26
Meta Description Meta Keywords Headline (70–75 characters) Strap (160–200 characters, no full stop) Byline Aathira Varier Edited Body Text (British English, no content addition, no bolding in body): Mumbai, 10 August Axis Max Life Insurance plans to grow 3-5% more than the industry in FY26, continuing the growth momentum seen in the first quarter of FY26 (Q1 FY26), said Sumit Madan, Senior Director and Chief Distribution Officer of the company. The insurer aims to become the third-largest private life insurer with a balanced product and channel mix. Madan is the MD & CEO-designate of the life insurer and will succeed Prashant Tripathy, effective from 1 October 2025. In Q1 FY26, the insurer recorded 18 per cent year-on-year (YoY) growth in gross written premium to ₹6,397 crore. The Total Annualised Premium Equivalent (APE) of the insurer increased by 15 per cent YoY to ₹1,668 crore. The number of policies sold also reported a 10 per cent increase YoY to 1.66 lakh in the quarter. According to Madan, the company is close to its ideal product mix, which includes approximately 35-36 per cent ULIPs, 12-13 per cent share in protection, nearly 30 per cent in savings, 13 per cent in participating products, and the remaining 6-7 per cent in other products. During the year, the individual sum assured grew by 26 per cent YoY to ₹89,079 crore, largely owing to the protection business. 'The growth in sum assured is largely driven by the strong performance of our protection business, which has grown at a similar pace. We currently rank third in the industry on sum assured performance, with the average sum assured in Q1 FY26 standing at ₹50 lakh,' Madan said. The measure of profitability — value of new business (VNB) — of the insurer grew by 32 per cent YoY to ₹335 crore in the reported quarter, with margin rising 2.6 per cent to 20.1 per cent, the insurer said. Meanwhile, the solvency ratio of the insurer declined by 4 per cent to 199 per cent, and the company plans to raise ₹800 crore via non-convertible debentures (NCDs) during the year to support the solvency ratio.
Mint
11-06-2025
- Automotive
- Mint
Stocks to watch: Maruti Suzuki, IIFL Finance, Wipro, Texmaco, IndiGo among shares in focus today
India's leading automaker, Maruti Suzuki, is adjusting the production schedule of its upcoming e-VITARA model because of a shortage of rare earth magnets. IIFL Finance plans to raise up to ₹ 600 crore by issuing non-convertible debentures (NCDs) through a private placement. A state-owned bank has announced an update to its marginal cost of funds-based lending rate (MCLR), which will take effect from June 12, 2025. The semiconductor manufacturer announced that its fully-owned subsidiary, Kaynes Semicon Private Ltd, has signed an asset purchase agreement with Japan-based Fujitsu General Electronics Limited. The engineering firm announced that it has secured a ₹ 44.04 crore order from Mumbai Railway Vikas Corporation Limited. The company has announced that Sumit Madan will take over as the managing director and chief executive officer of Axis Max Life Insurance Ltd, with effect from October 1, 2025. IndiGo announced plans to expand its international operations in Central Asia by introducing direct flights to three major cities: Almaty in Kazakhstan, Tashkent in Uzbekistan, and Tbilisi in Georgia. Wipro, an IT services firm, has announced a two-year extension of its partnership with Metro AG, a global food wholesale company. Reliance Defence and Germany's Diehl Defence announced on Tuesday that they are strengthening their strategic collaboration to provide precision-guided munitions to the Indian Armed Forces. CreditAccess Grameen has secured a $100 million multi-currency syndicated social loan facility, which qualifies as an External Commercial Borrowing (ECB) under the Reserve Bank of India's (RBI) automatic route. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
News18
11-06-2025
- Business
- News18
Stocks To Watch: Maruti Suzuki, IndiGo, Texmaco Rail, Wipro, Reliance Infra, And Others
Last Updated: Stocks to watch: Shares of firms like Maruti Suzuki, IndiGo, Texmaco Rail, Wipro, Reliance Infra, and others will be in focus on Wednesday's trade Stocks to Watch on June 11, 2025: Markets traded in a subdued manner and ended almost unchanged on Tuesday, taking a pause after the recent surge. Today, shares of Maruti Suzuki, IndiGo, Texmaco Rail, Wipro, and others will be in focus due to various news developments. IndiGo IndiGo, the domestic airline, announced plans to enhance its international capacity to Central Asia by launching direct flights to three key destinations: Almaty (Kazakhstan), Tashkent (Uzbekistan), and Tbilisi (Georgia). Texmaco Rail Texmaco Rail and Engineering reported receiving an order worth ₹44.04 crore from Mumbai Railway Vikas Corporation. Max Financial Max Financial has appointed Sumit Madan as Managing Director and CEO of Axis Max Life for a term of five years, effective from October 1. Maruti Suzuki Maruti Suzuki has cut near-term production targets for its first electric vehicle, the e-Vitara, by two-thirds due to rare earth shortages, according to a company document seen by Reuters. Initially planning to produce 26,500 e-Vitaras between April and September, the company now plans to manufacture only 8,200 units. Marksans Pharma OrbiMed Asia IV Mauritius FVCI Ltd, a global healthcare investment firm, has launched a block deal to sell 2.27% of its stake in Marksans Pharma, amounting to ₹256.8 crore. Aditya Birla Capital Jomei Investments, a special purpose vehicle owned by Advent International Corporation, has launched a block deal to sell a 1.4% stake in Aditya Birla Capital Ltd for ₹856 crore, as reported by CNBC-TV18. The floor price has been set at ₹237.80 per share. Kaynes Technology Kaynes Technology India's subsidiary, Kaynes Semicon Pvt Ltd, has entered into an asset purchase agreement with Japan's Fujitsu General Electronics Limited. Signed on June 9, 2025, the deal involves acquiring production lines for power modules for a total consideration of 1.59 billion yen. IIFL Finance IIFL Finance plans to raise up to ₹600 crore through the issuance of non-convertible debentures (NCDs) via private placement. The funds will be used to augment long-term resources and support the growing lending book. Wipro Wipro has extended its partnership with Metro AG, an international food wholesaler, for an additional two years. Under the renewed agreement, Wipro will continue to provide integrated digital services, including cloud, data, application development, and AI-enabled IT support services. Bharti Airtel The Department of Telecommunications has imposed a penalty of ₹1,01,000 on Bharti Airtel for inadequate verification of customers. Airtel stated in an exchange filing that it was penalised for violating subscriber verification norms, which require telecom companies to ensure proper verification before enrolling customers. Disclaimer:Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions. First Published:
Economic Times
11-06-2025
- Business
- Economic Times
Stocks in news: Oriental Carbon, Maruti Suzuki, IndiGo, Texmaco Rail, Wipro
CreditAccess Grameen received $100 million multi-currency syndicated social loan facility, qualifies as an ECB under the automatic route of the Reserve Bank of India (RBI). Synopsis Oriental Carbon saw Bank of America buying shares. Maruti Suzuki is adjusting its e VITARA production. IndiGo is launching flights to Almaty, Tashkent, and Tbilisi. IIFL Finance plans to raise funds through debentures. Texmaco Rail secured an order from Mumbai Railway Vikas Corporation. Wipro extended its partnership with Metro AG. Kaynes Technology's subsidiary made an asset purchase agreement. Markets traded in a lackluster manner and ended almost unchanged on Tuesday, taking a breather after the recent surge. In today's trade, shares of Oriental Carbon, Maruti Suzuki, IndiGo, Texmaco Rail, Wipro among others will be in focus due to various news developments. ADVERTISEMENT Oriental Carbon Bank of America (BofA) bought 53,428 shares in microcap counter Oriental Carbon & Chemicals on Monday via block deal. Maruti Suzuki The country's largest carmaker Maruti Suzuki India is recalibrating production of its upcoming model e VITARA due to the shortage of rare earth magnets. IndiGo Domestic carrier IndiGo said it is set to enhance its international capacity to Central Asia with the launch of direct flights to three key destinations -- Almaty (Kazakhstan), Tashkent (Uzbekistan), and Tbilisi (Georgia). IIFL Finance IIFL Finance is set to raise up to Rs 600 crore through the issuance of non-convertible debentures (NCDs) on a private placement basis. ADVERTISEMENT Texmaco Rail Engineering major Texmaco Rail and Engineering said it has received an order worth Rs 44.04 crore from Mumbai Railway Vikas IT services company Wipro announced the extension of its partnership with Metro AG (Metro), an international food wholesaler, for an additional two years. ADVERTISEMENT Kaynes Technology Semiconductor manufacturing company Kaynes Technology said its wholly-owned subsidiary, Kaynes Semicon, has entered into an asset purchase agreement with Fujitsu General Electronics Limited, Japan. Max Financial Max Financial appointed Sumit Madan as MD and CEO of Axis Max Life for a term of 5 years effective from October 1. ADVERTISEMENT CreditAccess Grameen CreditAccess Grameen received $100 million multi-currency syndicated social loan facility, qualifies as an ECB under the automatic route of the Reserve Bank of India (RBI). (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Time of India
11-06-2025
- Business
- Time of India
Stocks in news: Oriental Carbon, Maruti Suzuki, IndiGo, Texmaco Rail, Wipro
Markets traded in a lackluster manner and ended almost unchanged on Tuesday, taking a breather after the recent surge. In today's trade, shares of Oriental Carbon , Maruti Suzuki , IndiGo , Texmaco Rail , Wipro among others will be in focus due to various news developments. Oriental Carbon Bank of America (BofA) bought 53,428 shares in microcap counter Oriental Carbon & Chemicals on Monday via block deal. Maruti Suzuki The country's largest carmaker Maruti Suzuki India is recalibrating production of its upcoming model e VITARA due to the shortage of rare earth magnets. IndiGo Domestic carrier IndiGo said it is set to enhance its international capacity to Central Asia with the launch of direct flights to three key destinations -- Almaty (Kazakhstan), Tashkent (Uzbekistan), and Tbilisi (Georgia). IIFL Finance IIFL Finance is set to raise up to Rs 600 crore through the issuance of non-convertible debentures (NCDs) on a private placement basis. Texmaco Rail Engineering major Texmaco Rail and Engineering said it has received an order worth Rs 44.04 crore from Mumbai Railway Vikas Corporation. Wipro IT services company Wipro announced the extension of its partnership with Metro AG (Metro), an international food wholesaler, for an additional two years. Kaynes Technology Semiconductor manufacturing company Kaynes Technology said its wholly-owned subsidiary, Kaynes Semicon, has entered into an asset purchase agreement with Fujitsu General Electronics Limited, Japan. Max Financial Max Financial appointed Sumit Madan as MD and CEO of Axis Max Life for a term of 5 years effective from October 1. CreditAccess Grameen CreditAccess Grameen received $100 million multi-currency syndicated social loan facility, qualifies as an ECB under the automatic route of the Reserve Bank of India (RBI).
