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MUMBAI: Cigna TTK Health Insurance today filed an application with the insurance regulator to increase Cigna’s stake from 26% to 49%.Post the transaction, TTK will own 51% stake. With this round, share capital will expand to Rs 350 crore.“Cigna TTK will continue to strengthen its market position in India by further growing our distribution network through expansion and new alliances, focusing on product and service innovation and enhancing our digital and technological capabilities while keeping the customer at the center of everything we do,” said Sandeep Patel , MD & CEO, Cigna TTK Health Insurance.

bank capital Cigna crore Health insurance Network Rs stake TTK

 

You are listening to ETMarkets Evening PodcastThis is Swati Verma from ETMarkets.com taking you through the motions of Wednesday's session on Dalal Street and bringing you cues and trading tips from market veterans for Thursday's trade.Domestic equity indices rallied for the second straight day backed by strong gains in metals and FMCG counters. Jaypee Infratech hit lower circuit after reports that the Centre may step in to provide relief to thousands of home buyers hit by insolvency proceedings against Jaypee Infratech, including sale of the company's assets to raise money to complete the project.Rahul Shah of Motilal Oswal sums up the day’s market proceeding for you in this exclusive chat with ETMarkets.com.Byte 1: Rahul ShahMax Financial Services Limited witnessed the biggest jump in open interest at 37.81 per cent on NSE on Wednesday.

Byte cent com ETMarkets hit interest market Nifty Tata trade

 

MUMBAI: RBI Governor Urjit Patel had opted for a moderate rate cut of 25 basis points arguing that low food prices were unusual and vulnerable to upward pressures, said minutes of the last Monetary Policy Committee (MPC) meet released today.Patel had also opined that effective transmission of policy rate was key to non-inflationary growth and banks have still space to cut lending rates.The RBI Governor-headed six-member MPC had met on August 1 and 2 to decide this fiscal's third bimonthly monetary policy.Based on the majority view at the MPC meet, the central bank reduced the key policy rate (repo) by 25 basis points to 6 per cent, although the industry and other stakeholders were expecting more than that.Four of the six members had recommended 0.25 per cent cut in repo rate . While external member Ravindra H Dholakia (Professor, IIM, Ahmedabad) suggested 0.5 per cent reduction, another member Michael Debabrata Patra (RBI Executive Director) was in favour of status quo.As per the minutes, Patel cautioned that "the present low level of food prices is unusual and is vulnerable to upward pressures".He said an assessment of whether the recent deflation in food items is sustainable, despite a normal monsoon, would require more hard data going forward.The RBI governor further said that effective transmission of a policy rate cut is the key to achieving the goal of supporting non-inflationary growth.

cut food Governor key member MPC Patel policy rate RBI

 

NEW DELHI: The Nifty50 rallied over 100 points on Wednesday to close at a kissing distance of the 9,900 mark. But for a bigger rally, the NSE barometer needs to break above the strong resistance at 9,970, say analysts.Chandan Taparia of Motilal Oswal Securities sees short-term support for the Nifty50 at 9,820 and 9,775 levels.“The index has formed higher highs and higher lows for last two sessions.

formed higher index level mark rally session strong Technical zone

 

The Nifty50 index managed to hold above the 9,975 level and witnessed a strong rally of more than 100 points towards the 9,900 mark. Significant Put writing was seen at strike prices 9,800, 9,900, 9,700 and 9,600 which is supporting the upward move, while Call unwinding was seen at strike prices 9,700, 9,900 and 10,050, which could create scope for the Nifty50 to head towards the psychologically important 10,000 mark.India VIX fell for the second consecutive session by 1 per cent to 14.25.

higher index level mark Nifty50 rally strike strong The witnessed

 

NEW DELHI: After last week’s carnage, the bulls seemed to have come out of the slumber on Dalal Street as the domestic equity market ended in the positive territory for the second session in a row on Wednesday. Last week, the steel giant registered a consolidated net profit of Rs 921.09 crore for the quarter ended June 30, 2017, on the back of higher revenue from operations.

apiece cent hit India market Rs session shares stock Tata

 

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The Indian equity market is trading at a premium to its historic average and its valuations are expected to stay high over the next three years, says an Edelweiss Securities report.The report said while supply side has undergone a structural change, reform momentum is well above its historic past and more aggressive than emerging as well as global peers.Moreover, domestic flows into the equity market will have a fairly large and sustained influence on how the Indian market is valued.

equity historic Indian market Premium report stay trading valuations years

 

The study didn’t comment on current market levels. Taken alongside a lack of "pullbacks" in other equity gauges round the world, “we’ve never seen anything like this before,” Ryan Detrick, a strategist with brokerage LPL Financial based in Charlotte, North Carolina, wrote in a note last month.The study by Sornette and his team suggests that keeping an eye on gauges like the VIX will prove little use in monitoring for any impending asset-price collapse.

bubble current equity levels market North study The VIX volatility

 

The government shareholding in Engineers India Ltd has fallen to 54.17 per cent after it sold some shares under the company's buyback programme.It had 57.02 per cent in EIL prior the launch of the Rs 658.80 crore share buyback on July 25. The 4.19 crore share buyback plan at Rs 157 a piece closed on August 7.In a regulatory filing, EIL said the government cornered 99.96 per cent of the buyback programme.EIL said it has bought 4.19 crore equity shares and extinguished them.

buyback cent crore EIL engineering government Rs share The trading

 

This help's in dissemination of corporate announcements to investors without loss of time. Listed entity shall exercise due care while filing the announcement and shall be solely answerable for the announcement," NSE said in a notice recently.

announcement care corporate dissemination due entity filing investors listed solely

 

The government's capital infusion into IDBI Bank indicates it will not allow state-run banks to default on coupon payments on additional tier 1 (AT1) instruments, according to a Fitch Ratings report.

It said the government is likely to continue support to state banks so that they do not miss coupon payments on AT1 bonds.

AT1 bank capital coupon payments crore government IDBI market report Rs

 

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NEW DELHI: Indian retail investors pump in nearly Rs 5,000 crore into equity mutual funds through the systematic investment plan (SIP) route every month. On the other hand, the same Rs 37,000 invested at one go in this scheme would have yielded 20.75 per cent.“We have always been recommending investors to take exposure to the market via SIP or STP route.

cent fund investment investors lumpsum market Rs scheme SIP year

 

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NEW DELHI: Stock exchanges BSE and NSE are likely to initiate audit on 100 out of 331 suspected shell companies in the first batch in coordination with SEBI , sources told ET Now.A panel of auditors will soon be appointed for first stage of audit of select 100 companies, sources said.All except a handful of 331 suspected companies are either non-operational or already barred from trading on exchanges.Sources said that freezing of promoters’ shares is being considered till probe concludes. Yet, retail and high net worth individuals hold up to 95 per cent stake in these companies.Since banks hold margins on behalf of stock exchanges, there are fears that some of the banks, already burdened by a huge pile of bad loans, may see some addition because these 331 stocks have now diminished in value.

audit BSE companies exchanges reported Shell sources stock suspected trading

 

Young people, just starting out in their lives, stand to benefit tremendously from investing in the equity market, as they have time on their side. Considering this, it is ironic that majority of the younger generation do not capitalise on these advantages, and are impatient to maximise returns in the least possible time.In order to truly benefit from equities, there are certain primal instincts that an aspiring investor needs to curb, namely greed, impatience and attention diversion.

equities equity equity market invest Investing investment investors market years younger

 

China CSI300 stock index futures for August rose 0.1 per cent, to 3,690.8, 10.77 points below the current value of the underlying index.China's new loans in July fell to their lowest in 8 months, reinforcing views economic activity will slow in the second half.But with broad consensus pointing to a gradual slowdown in the economy , and not a sharp deceleration, some market watchers said concerns over cooling growth had not led to heavy selling pressure. The nine best-performing components of the CSI300 index were all technology firms.The tech-heavy ChiNext board gained 1.5 per cent for the day.Wangsu Science & Technology Co., which provides content delivery and internet data center services, gained 6.8 per cent.

cent China CSI300 firm gained heavy index lost mining tech

 

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