Category: Best SEBI registered advisory company

SBI Life, on Monday, said that the board of directors will consider payment of interim dividend on equity shares for the financial year 2024-25 on Friday, February 28.

“We wish to inform you that, a meeting of Board of Directors of the Company is scheduled to be held on Friday, February 28, 2025, to consider and declare payment of Interim Dividend on equity shares of the Company for the Financial Year 2024-25,” the company said in an exchange filing.

SBI Life further said that it has set March 7 as the record date for determining the shareholders for the payment of interim dividend for FY 2024-25.

“The record date for determining the shareholders for the payment of Interim Dividend for FY 2024-25, if any, declared by the Board of Directors of the Company shall be Friday, March 07, 2025,” it added.

The trading window of the shares will remain closed from Monday, February 24, 2025, to Sunday, March 02, 2025, (both days inclusive) for all designated persons of the company and their immediate relatives.

SBI Life share price was trading in red in Monday’s trading session. The stock fell over a per cent to ₹1,483.85, against the previous close at ₹1,490 on Friday.

SBI Life Insurance Q3 results

On Friday, January 17, SBI Life Insurance Company announced its financial results for the December quarter of FY 2024-25 (Q3FY25). The company reported a net profit of ₹550.82 crore, marking a significant 71.2 per cent increase from ₹321.75 crore in the corresponding quarter last year. On a sequential basis, the profit saw a modest 4 per cent rise from ₹529.42 crore in the September quarter.

The company’s net premium income for Q3FY25 amounted to ₹24,828 crore, marking an 11 per cent increase from ₹22,316 crore in the same quarter of the previous fiscal year. Sequentially, it grew by 22 per cent from ₹20,266 crore recorded in Q2FY25.

For the nine months ending December 31, 2024, the company’s New Business Premium (NBP) saw a slight 1% increase, reaching ₹26,260 crore compared to ₹26,000 crore in the same period last year. Meanwhile, renewal premiums experienced a strong year-on-year growth of 15%, rising to ₹34,730 crore from ₹30,190 crore in 9MFY24.

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As many as three analysts who have coverage on Mahindra and Mahindra Ltd. have reiterated their positive stance on the passenger vehicle and tractor manufacturer.

The positive stance comes after the stock has seen a sharp correction from its 52-week high over the last two weeks. Shares fell 9% last week after a 6% drop on Friday, amidst concerns surrounding Tesla’s potential entry into the Indian markets and its impact on the company.

Bernstein has an “outperform” rating on the stock with a price target of ₹3,650 per share, implying a potential upside of 37% from the previous closing price.

The brokerage said the stock’s latest correction makes it an appealing investment. It said the company’s management is adhering to its capital allocation policy and Tesla’s potential India entry may not have a large impact in the medium-term. If any, it is already priced in.

Bernstein said that although Tesla’s imported electric vehicles, permissible under EV policy, would target a higher price segment than M&M’s offerings, reducing near-term impact, the long-term impact will remain. The extent of it still depends on how serious Tesla is on India, it added.

Jefferies also has a “buy” rating on M&M with a price target of ₹4,075 per share, implying a potential upside of 53% from Friday’s close.

The brokerage also sees a limited impact on M&M in the near-term due to Tesla’s entry, given the gap in portfolio prices and EV policy offering lower duty only on limited volumes for high-priced vehicles.

Jefferies finds M&M’s 30,000 EV orders encouraging as it forms 30% of India’s total EV sales in the 2024 calendar year. The brokerage finds M&M’s core price-to-earnings ratio of 20 times for financial year 2026 “attractive” for an 18% estimated Earnings Per Share (EPS) CAGR for financial year 2025-2027.

The third one to reiterate its positive stance on M&M was Goldman Sachs, with a “buy” rating and a price target of ₹3,800, which implies a potential upside of 43% for the stock.

It said Tesla’s potential India entry is driving a 15% discount in M&M’s auto business compared to its peers.

Based on the brokerage’s estimates for financial year 2026 and 2027 the current stock price is implying a 15% and 19% discount, respectively, to the price-to-earnings multiple of the company’s automotive segment compared to its closest peer Maruti Suzuki. It added that the implied automotive business price-to-earnings multiple is currently trading at an 8% discount to the tractor business.

Over the last 10 years, M&M has returned a median of 23% and 26% over a 12- and 24-month period, respectively, following episodes of 15% stock price corrections from peak in five instances, Goldman Sachs said.

Out of the 40 analysts that have coverage on M&M, 37 have a ‘buy’ call, two have a ‘hold’ call and one has a ‘sell’ call.

M&M shares ended Friday’s trade session 6.2% lower at ₹2,663.5 apiece. It has been in the red for 10 out of the last 11 trade sessions.

M&M shares opened Monday’s trade session little changed, and fell 1.4% soon after. However, around 9.25 am, the stock started its recovery and gained over 1.6%% to hit an intraday high of ₹2,712.45 apiece.

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Shares of Quality Power Electrical Equipments made a muted debut on its Dalal Street debut on Monday as the energy transition equipment maker was listed at Rs 432.05 on BSE, a discount of 1.66 per cent over its issue price of Rs 425 apiece. Similarly, the stock kicked-off its maiden trading session with a discount of 1.16 per cent over its given issue price of Rs 430 on BSE.

The listing of Quality Power has been better-than-the-expectations. Ahead of its stock market debut, the grey market premium (GMP) of Quality Power was exchanging hands at a discount of Rs 10 per share, suggesting a muted listing for the investors. The GMP for the counter has remained negative since the closure of the issue.

The IPO of Quality Power Electrical Equipments ran for bidding between February 14-18. The company had offered its shares in the price band of Rs 401-425 per share with a lot size of 26 shares. It raised a total of Rs 858.70 crore from its IPO, which included a fresh share sale of Rs 225 crore and an offer-for-sale (OFS) of up to 1,49,10,500 shares.

The issue was overall subscribed only 1.29 times. The portion for qualified-institutional bidders (QIBs) was subscribed about 1.03 times. The portion for non-institutional investors (NIIs) was booked 1.45 times, while the allocation for retail investors was booked 1.83 times during the three-day bidding.

Incorporated in 2001, Sangli-based Quality Power Electrical Equipments is engaged in the business of energy transition equipment and power technologies. It provides high-voltage electrical equipment and solutions for grid connectivity and energy transition, specializing in power products across generation, transmission, distribution, and automation sectors.

Brokerage firms mostly had a positive view on this issue. Pantomath Capital Advisors was the sole book-running lead manager of the Quality Power IPO, while Link Intime India served as the registrar for the issue.

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Condemning the suspension of 15 more employees, over 500 workers of the Samsung India Workers Union (SIWU) on Friday staged a demonstration near Oragadam bridge in Kancheepuram. The CITU, backing the workers’ union, announced its plans for a massive one-day strike on March 10, expecting over 12,000 workers across 58 unions from various industrial sectors in Kancheepuram district to take part.

A strike notice is set to be issued on February 24. Union leaders warned that if Samsung fails to meet the workers’ demands, the agitation could escalate into a statewide shutdown. CITU Kancheepuram secretary and SIWU leader Muthukumar told TNIE, “We’ve had six rounds of talks so far, with Samsung attending five.

Another round of talks is scheduled for February 24. If our demands are not met, Sriperumbudur industrial sector workers will join the protest the next day, followed by workers from the entire Kancheepuram industrial sector on March 10 for a massive protest,” he said.

The Samsung management cited indiscipline as a reason for the suspension of 15 workers after the protesters entered the shop floor and made the contract workers leave. On February 5, the management suspended three workers.

One of the protesting workers said the company could not replace its employees, who have 15 years of experience, with unskilled contract workers.

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The National Stock Exchange (NSE) announced major changes to its benchmark indices on Friday, February 21, with food delivery giant Zomato and Jio Financial Services Ltd (JFSL) set to enter the broader Nifty 50 index in the upcoming semi-annual reshuffle, effective March 28, 2025. The move signals acceptance of new age technology stocks by mainstream investors.

According to the NSE’s Nifty 50 index revisions, state-run oil marketing company (OMC) Bharat Petroleum Corporation Ltd. (BPCL) and fast-moving consumer goods (FMCG) major Britannia Industries Ltd. will be excluded from the index. The announcement marks the first additions of digital-era stocks to India’s most widely tracked domestic benchmark stock exchange index. 

NSE index rejig: What’s behind the additions and exclusions?

Zomato was included in the BSE Sensex late last year. The index maintenance Sub-Committee of NSE Indices Ltd announced the changes to the Nifty 50 index as part of its semi-annual review, effective March 28, 2025. These changes align with the index’s periodic assessment to ensure it accurately reflects the current market trends and maintains its relevance to all groups of investors.

Zomato and Jio Financial Services Ltd. have been added to the Nifty 50 index because their average free-float market capitalization over six months is at least 1.5 times that of the smallest companies being removed. Zomato’s market cap is ₹1,69,837 crore, while Jio Financial’s is ₹1,04,387 crore. BPCL and Britannia have market caps of Rs. 60,928 crores and ₹64,151 crore, respectively.

The rebalancing is based on the average free float market cap from August 1 to January 31. A stock must be part of the F&O segment to be eligible for inclusion in the Nifty50 index. In addition, changes have been announced in several indices, including Nifty 100 and Nifty 200. The firms included in the index cater to an increasingly tech-savvy and affluent consumer base. 

According to Nuvama Wealth Management’s Alternative & Quantitative Research, the inclusion in the Nifty 50 index is estimated to lead to substantial inflows worth $631 million into Zomato shares and $320 million in Jio Finance shares. On the other hand, the exclusion of BPCL and Britannia Industries would likely result in outflows of $201 million and $240 million, respectively.

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