Tech

“Why ITC share price fell 4% on much-awaited hotel business demerger announcement? – Explained.”

Published

2 months ago

July 24, 2023

Image of ITC announced that it would be demergering its hotel business into a separate, listed entity. The demerger is expected to be completed by the end of 2023

The demerger is expected to unlock value for ITC’s hotel business, which has been struggling in recent years. However, some investors may have been concerned about the timing of the announcement, as it comes at a time when the overall stock market is volatile.

On July 21, 2023, ITC made a significant announcement regarding the demerger of its hotel business into a separate, listed entity. The demerger process is expected to be completed by the end of 2023.

Strategic Demerger Benefits for ITC’s Hotel Business

The demerger decision comes as a positive step for ITC’s hotel business, which has encountered challenges in recent years due to various factors impacting the Indian hotel industry. Economic growth slowdown, rising costs, and increased competition have all contributed to the struggle.

However, the demerger presents a strategic opportunity for the hotel business to reevaluate and enhance its operations and financial performance. By focusing solely on its core activities, the business aims to streamline resources, boost efficiency, and reduce costs.

Key Advantages of the Demerger

Increased Focus on Core OperationsThe demerger allows ITC’s hotel business to concentrate on its core operations, leading to improved financial performance by minimizing resource duplication and inefficiencies.
Improved Financial PerformanceThe focused approach resulting from the demerger is expected to enhance the hotel business’s financial performance as it dedicates its resources more effectively.
Increased Investor InterestWith the demerger, investors now have the opportunity to invest in ITC’s hotel business as a separate entity. This heightened interest may lead to higher valuations in the future.
Enhanced Brand ValueThe demerger is also anticipated to strengthen the brand value of ITC’s hotel business by allowing it to establish its distinct identity and focus on building its unique brand image.

A graph showing the share price of ITC falling by 4% on the announcement of the demerger of its hotel business — Image of **ITC share price falls 4% on demerger announcement despite analysts’ positive views.**

Potential Impact on ITC’s Share Price

The demerger’s positive impact on ITC’s share price is highly likely due to the expected improvements in the hotel business’s financial performance and the increased interest from investors.

However, it is essential to consider the possibility of a short-term decline in ITC’s share price as some investors may decide to sell their shares in anticipation of the demerger.

Long-term Outlook and Conclusion

In conclusion, the demerger of ITC’s hotel business is a well-thought-out strategic move. It is expected to enhance the hotel business’s financial performance and generate more investor interest, thus having a positive impact on ITC’s share price in the long run.

For investors interested in ITC’s hotel business, it is worth considering investing in the new, listed entity resulting from the demerger. The move is expected to create a more focused and efficient hotel business, potentially leading to higher valuations in the future.

Tech

Life Insurance Companies in India with the highest rate of settlement for claims.

Published

2 months ago

July 26, 2023

Life Insurance Companies in India with the highest rate of settlement for claims.

Table of Contents

| Life Insurance | Companies | India | highest rate | settlement | claims |

When selecting an insurance policy for life One among the primary aspects to think about are the settlement percentage that the insurer has. The ratio of claim settlement is the proportion of claims accepted through an insurance firm. A high rate of settlement suggests that an insurance provider will be more inclined to settle your claim in the event that you require it.

Here are the top 10 life insurers from India that have the best rate of settlement for claims:

Max Life Insurance Max Life Insurance company logo

Max Life Insurance has the most high claim settlement ratio in India as it has an average of 99.35 percent for the financial year 2022-23. Max Life Insurance has been paying claims with a high percentage for a long time.

Aegon Life Insurance Opens in a new windowwww.justdial.com Aegon Life Insurance logo

Aegon Life Insurance a second life insurance provider with high claims settlement ratio. The company’s claim settlement rate for the period 2022-22-23 stood at 99.25 percent.

Bharti AXA Life Insurance Opens in a new windoweconomictimes.indiatimes.com Bharti AXA Life Insurance company logo

Bharti AXA Life Insurance has an average claim settlement rate of 99.05 percent for the financial year 2022-23. The firm is known for its focus on the customer and commitment to pay out claims on time.

Life Insurance Corporation of India (LIC) Opens in a new windowen.wikipedia.org Life Insurance Corporation of India (LIC) corporate logo

LIC is the biggest Life insurance provider in India and has an average claim settlement rate of 98.74 percent for the fiscal period 2022-23. LIC is a state-owned business and is well-known as a stable financial institution and dedication to settlement of claims.

Pramerica Life Insurance Opens in a new windowwww.thehindubusinessline.com Pramerica Life Insurance company logo

Pramerica Life Insurance has a claim settlement ratio of 98.61 percent for the fiscal year 2022-23. Pramerica Life Insurance has been formed as a joint venture of Prudential plc and MetLife, and is known for its ingenuity and commitment to providing excellent customer service.

Exide Life Insurance Opens in a new windowen.wikipedia.org Exide Life Insurance company logo

Exide Life Insurance has a rate of settlement for claims of 98.54 percent for the fiscal year 2022-23. The company is renowned for its low-cost products as well as its extensive range of agents.

Kotak Mahindra Life Insurance The game is now available on a new windowsugermint.com Kotak Mahindra Life Insurance company logo

Kotak Mahindra Life Insurance has an average claim settlement rate of 98.50 percent for the financial period 2022-23. The company is renowned for its digital-first strategy and its dedication to offering outstanding customer service.

Reliance Nippon Life Insurance Opens in a new windoweconomictimes.indiatimes.com Reliance Nippon Life Insurance company logo

Reliance Nippon Life Insurance has claims settlement ratio of 98.49 percent for the financial period 2022-23. It has been formed as a joint venture of Reliance Industries Limited and Nippon Life Insurance which is well-known for its unique products as well as its financial backing.

Bajaj Allianz Life Insurance Opens in a new windowbfsi.eletsonline.com Bajaj Allianz Life Insurance company logo

Bajaj Allianz Life Insurance has the highest claim settlement ratio at 98.48 percent for the fiscal period 2022-23. It has been formed as a joint venture of Bajaj Finserv and Allianz SE and is well-known for its extensive assortment of products and dedication to the satisfaction of its customers.

PNB MetLife Opens in a new windowm.economictimes.com PNB MetLife company logo

PNB MetLife has a claim settlement ratio of 98.17 percent for the fiscal period 2022-23. It has been formed as a joint venture of PNB MetLife and MetLife, and is well-known for its competitive products as well as its solid financial backing.

How to Pick an Life Insurance Company with a High Settlement Ratio

When selecting the life insurance company you choose it is essential to look at the claim settlement rate of the business. It is possible to find the claims settlement ratio of the life insurance company on the official website of Insurance Regulatory and Development Authority of India (IRDAI).

Alongside the settlement ratio, it is important to be aware of other aspects when deciding on the life insurance company you want to go with like the stability of its finances as well as its product offerings and

Tech

10 Top Indian Credit Cards in 2023 at 0% Interest for up to 21 months

Published

2 months ago

July 26, 2023

Yes, this is an article on the 10 top Indian credit cards in 2023, with no charges for up to 21 month:

10 Top Indian Credit Cards in 2023 at 0% Interest for up to 21 months

Credit cards are the perfect option for you to accumulate rewards points, improve you credit scores, and also make purchases. But, they can be costly when used effectively. One method to reduce the cost of credit card is to search for credit cards that provide zero percent interest on purchases for an extended time. This gives you the chance to pay down the balance on your credit card without having to worry about the cost of interest.

Here are ten of the top Indian credit cards in 2023 that will offer no cost of purchases for a period of up to 21 months

1. Axis Bank Buzz Credit Card

Axis Bank Buzz Credit Card

It is the Axis Bank Buzz Credit Card is an excellent choice for those who wish to earn rewards from your everyday purchases. The card gives cashback of 1% on all purchases. In addition, it also comes with a 0 percentage cost of purchase for the initial 21 month period.

2. HDFC Bank MoneyBack Plus Credit Card

HDFC Bank MoneyBack Plus Credit Card

The HDFC Bank MoneyBack Plus Credit Card is a good alternative for those looking to earn rewards from your everyday purchases. The card provides cashback of 2% on purchases of fuel and groceries in addition to an interest-free rate of 0% of purchases in the beginning 21 months.

3. SBI SimplyCLICK Credit Card

SBI SimplyCLICK Credit Card

The SBI SimplyCLICK Credit Card is a great choice for those seeking an easy and simple credit card. It offers the cash back of 1% on all purchases. Additionally, it also offers a 0 percent charge for purchases within the first two years.

4. ICICI Bank Amazon Pay Credit Card

ICICI Bank Amazon Pay Credit Card

The ICICI Bank Amazon Pay Credit Card is an excellent choice for people who buy on Amazon. The card provides cashback of 5% on Amazon purchases. It also offers a zero cost of transactions for the first two years.

5. Citibank Cashback Card

Citibank Cashback Card

It is the Citibank Cashback Card an excellent choice for those looking for an account that offers a range of rewards choices. The card gives cash back of 1% on all purchases. In addition, it also comes with a zero percent cost of transactions for the first two years.

6. Standard Chartered Platinum Edge Credit Card

Standard Chartered Platinum Edge Credit Card

The Standard Chartered Platinum Edge Credit Card is an ideal choice for those seeking a credit card that has a good reward rate. The card gives 2 percent cashback on all purchases and also zero interest when you purchase the card for the first time in 21 calendar months.

7. American Express Platinum Travel Card

American Express Platinum Travel Card

The American Express Platinum Travel Card is a fantastic option for travelers who frequent their travels. It offers a range of benefits for travelers, such as access to lounges at airports along with travel insurance, as well as the absence of foreign transaction fees. The card also comes with a zero per cent cost of transactions for the first two years.

8. IndusInd Bank Platinum Edge Credit Card

IndusInd Bank Platinum Edge Credit Card

Its IndusInd Bank Platinum Edge Credit Card is an ideal choice for those looking for a card that has a wide range of reward options. It offers cashback of 1% on all purchases. Additionally, it also comes with a zero percentage cost of purchases in the initial 21-month period.

9. RBL Bank Platinum Travel Credit Card

RBL Bank Platinum Travel Credit Card

The RBL Bank Platinum Travel Credit Card is an excellent choice for travelers who frequently travel. It offers a range of benefits for travelers, such as access to airport lounges along with travel insurance and no foreign transaction fee. Also, it offers a zero per cent cost of purchase for the initial 21 month period.

10. Yes Bank SimplyCLICK Platinum Credit Card

Opens in a new windowcardinsider.com

Yes Bank SimplyCLICK Platinum Credit Card

It is the Yes Bank SimplyCLICK Platinum Credit Card is an ideal choice for those seeking an easy and straightforward credit card. It offers cashback of 1% on all purchases. In addition, it also comes with a zero percentage cost of purchases in the initial 21-month period.

How to Choose the Best Credit Card for You

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Tech

“Canara Bank Maintains NIM Target of 3%, Eyes 12-14% Credit Growth.”

Canara Bank is a well-managed bank with a strong track record. The bank is confident of achieving its targets in 2023, despite the challenges posed by the rising interest rates.

Published

2 months ago

July 25, 2023

Canara Bank confident of achieving targets despite rising interest rates.

Table of Contents

| Canara Bank | net interest margin (NIM) | credit growth | Indian banking | banking industry | rising interest rates | performance | results | statements | report | earnings call |

Canara Bank, one of India’s largest banks, has maintained its net interest margin (NIM) target of 3% for 2023. The bank also expects credit growth to be in the range of 12-14% in the current year. Canara Bank’s MD, L.V. Prabhakar, said that the bank is confident of achieving its targets despite the rising interest rates.

Canara Bank's MD, L.V. Prabhakar, says bank is confident of achieving targets in 2023. — **Canara Bank maintains NIM target of 3% and expects credit growth of 12-14% in 2023.**

Canara Bank, India’s leading financial institution, remains steadfast in its pursuit of a 3% net interest margin (NIM) for the year 2023. Alongside this ambitious goal, the bank has set its sights on achieving a credit growth rate of 12-14% during the current fiscal year. Canara Bank’s Managing Director, L.V. Prabhakar, expressed unwavering confidence in the bank’s ability to meet these targets, even amidst the challenges posed by rising interest rates.

Maintaining NIM Target Amidst Challenges

“We are confident in our ability to maintain the 3% NIM target in 2023,” asserted Prabhakar. He highlighted the bank’s robust deposit base and the encouraging demand for credit as key factors supporting their optimistic outlook. Despite the fluctuations in interest rates, Canara Bank remains well-prepared to navigate through these challenges.

Effective Asset-Liability Management

Prabhakar emphasized the importance of their prudent asset-liability management (ALM) framework, which plays a crucial role in mitigating interest rate risks. Through meticulous planning and strategic risk management, Canara Bank believes it can effectively shield its operations from the impact of fluctuating interest rates.

Selena Gomez celebrates birthday by raising money for mental health. — Selena Gomez is asking for donations to the Rare Impact Fund in lieu of gifts for her 31st birthday. The fund supports organizations that provide mental health services and education to young people.

Leveraging Government’s Financial Inclusion Initiatives

The bank is actively capitalizing on the Indian government’s dedicated efforts towards financial inclusion. “The government’s financial inclusion initiatives are propelling our business growth,” Prabhakar acknowledged. Canara Bank is witnessing a surge in loan demand from small businesses and farmers, a testament to the positive outcomes of the government’s policies.

A Proven Track Record of Excellence

Canara Bank has consistently demonstrated its competence in managing operations and achieving targets. Armed with a strong track record, the bank is unwavering in its commitment to meeting the set goals for 2023, regardless of the challenges imposed by rising interest rates.

In conclusion, Canara Bank, as one of India’s leading banks, is resolute in its pursuit of a 3% NIM target and a credit growth rate of 12-14% for the year 2023. With a well-established deposit base, effective ALM framework, and the support of the government’s financial inclusion initiatives, the bank stands well-prepared to overcome the hurdles posed by fluctuating interest rates. Canara Bank’s determination and proven track record serve as a testament to its unwavering dedication to excellence and success in the financial landscape.