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ITC’s arm ITC Infotech to acquire 100% share capital of Blazeclan Technologies for ₹485 crore


Reliance consumer rocks its 1st full year of operations 📈

RCPL recorded sales of ₹3,000 crore in FY2024 and its beverage brand campa cola contributed ₹400 crore

RCPL bought campa cola from Pure Drinks Group in 2022 for just ₹22 crore

Campa Cola is currently manufactured by contract plants but RCPL is expected to raise ₹500-₹700 crore from parent company to set up bottling plants to boost capacity amid supply problems




PATANJALI FOODS ; CO. Says there was a typographical error in the number of shares held by "GQG Partners Emerging Markets Equity Fund A Series of GQG Partners Series LLC" in the shareholding pattern as at quarter ending March 31, 2024 filed by us.

The number of shares were inadvertently typed as 33,691,875 in place of 3,691,875.

The error was corrected on an immediate basis when it came to notice of the Company.

It is reiterated that the said submission was merely an inadvertent mistake, purely unintentional and clerical in nature.


NIFTY SLIPS BELOW 22000 MARK , AT DAY'S LOW


Suzlon Energy: Gujarat High Court grants an interim stay on penalty worth ₹260 crore


LTIMindtree Collaborates with Vodafone to Deliver Connected, Smart IoT and Industry X.0 Solutions




SHARP FALL IN NIFTY




Mastek jumps 17% after being named a supplier in the £1.2 billion digital and IT framework in the UK


Power Mech bags multiple orders worth ₹232 crore from BHEL


Adani group increases stake in Ambuja cements to 70.3% from 63.2% earlier.


Nifty and and bank nifty opened higher

Nifty up 🟢 106 points 0.46%
BNF up🟢 270 points 0.57%

Commodities such as Crude, Gold, Silver have opened flat


ICICI LOMBARD Q4FY24: Growth, Above Industry Average, Operational Performance Also Shines

KEY NUMBERS:
Net Earned Premium 17% (YoY)
Q4 Underwriting Loss 7.5% (YoY)
Combined Ratio Improves To 102.2 Vs 104.2

Management Guided For Strong Growth In FY25
-Ind Likely To Grow 13-15% In FY25, ICICI Lombard With Grow In-lnline With Industry

-Expect Govt Thrust On Infra To Grow Commercial Lines Of Biz

-Expect 50 bps improvement in Combined Ratio from here by Q4FY25

-Expect To Maintain Loss Ratios Of 65-70% In Motor Biz

Key Monitorable For FY25
Catastrophe claims in FY25
Guidance On Combined Ratio
If Co Can Go Ahead & Outperform Industry
If Motor Can Drive Premium Growth

ICICI Lombard Stock Hasn't Done Much
0.5% In last 1 Month
In last 1 Week
11% In Last 3 Months

Most Brokerages Sound Positive Post Q4 Results
Morgan Stanley OVERWEIGHT, Target Price At Rs 1,850

Jefferies BUY. Target Price At Rs 1,950

HSBC BUY, Target Price At Rs 1990

CLSA Downgrade To Underperform, Target Price At Rs 1,760

Source - CNBCTV18


ICICILOMBARD Q4 Results

Combined Ratio at 102.2% vs 104.2% (YoY)

Net profit up 19% at Rs 520 cr vs Rs 437 cr (YoY)

Gross premium up 22% at Rs 6,073 cr vs Rs 4,977 cr (YoY)

Return on Average Equity at 17.8% vs 17.2% (YoY)

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