Royal Sundaram General Insurance Co. standalone net profit declines 50.89% in the December 2023 quarter
Net profit of Royal Sundaram General Insurance Co. declined 50.89% to Rs 5.78 crore in the quarter ended December 2023 as against Rs 11.77 crore during the previous quarter ended December 2022. Sales rose 13.41% to Rs 713.86 crore in the quarter ended December 2023 as against Rs 629.47 crore during the previous quarter ended December 2022. ParticularsQuarter EndedDec. 2023Dec. 2022% Var.Sales713.86629.47 13 OPM %0.662.14 -PBDT7.9815.90 -50 PBT7.9815.90 -50 NP5.7811.77 -51

New Health Insurance Rule: AYUSH treatment coverage to be at par with other treatment; IRDAI asks insurers to amend all existing policies
IRDAI asks insurers to give coverage for AYUSH in health insurance policies

Tax sops to sovereign wealth, pension funds extended by a year
In 2020, the government had introduced a new section 10 (23FE) to provide notified sovereign and pension funds, an exemption from dividend, interest and long-term capital gains income earned from investments made in specified infrastructure businesses from April 1, 2020, to March 31, 2024.

Zee’s largest shareholder, ICICI Prudential Mutual Fund, sells 42% of holding
Bengaluru: Embattled Zee Entertainment Enterprises Ltd’s largest shareholder, ICICI Prudential Mutual Fund, has sold 42% of its holding in the company after Japan’s Sony Corp. called off the merger of its Indian entity with Zee, the country’s largest media and entertainment company.

Paytm stock crash: These mutual funds schemes likely to face music with NAVs under pressure
As Paytm shares tanked 20 percent to hit lower circuit in the aftermath of Reserve Bank of India (RBI) barring Paytm Payments Bank from accepting deposits, there are concerns galore among retail investors and mutual fund houses alike.

Achieved: the impossible trinity of growth, prudence and investment
 

WIZ Freight raises Series B funding of ₹125 crore in equity
Chennai: WIZ Freight, a Chennai-based supply-chainstart up, has raised Series B funding of ₹125 crore in equity. This was led by Japan-based SBI Investment at a post-money valuation of ₹1,400 crore, registering a 50 per cent jump in the valuation from its last round. The company plans to raise the Series B round in two tranches.

Bain Capital plans to invest $7 bn in India, boost hiring in next 3-5 yrs
Bain Capital has earmarked $7 billion to invest in India over the next three to five years as the country’s relatively steady politics and economic growth lift its attractiveness for overseas money managers.   

Bond yields to trend down by 50 bps in next 6 months
Bond markets staged a smart rally on Thursday after the government said it would borrow a net Rs 11.75 trillion from the markets in the next fiscal. This is a smaller amount compared to the current year’s borrowings of Rs 11.8 trillion and the announcement surprised the market. The yield on the 10-year benchmark bond fell by as much as 8 basis points (bps) to close the session at 7.06%.  While yields could fall further, some market participants expect the Reserve Bank of India (RBI) to change its stance on liquidity from “withdrawal of accommodation”. Some are betting on a rate cut later in the year.