The agency expects motor insurance premiums to grow at around 6% to 8% driven by any increase in third party insurance rates and higher auto sales, the ratings agency said.
Besides a much better current account and fiscal deficit position now, the country has a stronger armoury of forex reserves to tackle volatility in the event of dollar outflows. Also, the central bank may not need any monetary policy tool if US normalises liquidity as outflows could be handled through currency market interventions.
Sequoia Capital US and Tiger Global are likely to participate in Pristyne Care’s $90-110 million funding round, which is likely to double the healthcare startup’s valuation to $1.2-1.4 billion.
The Nifty Realty index closed 0.24 per cent down at 532.45.
IT bellwether revises growth guidance to high teens.
The company has set a target of crossing Rs 5,600 crore of assets under management (AUM) target by March, as it had already crossed the Rs 4,000-crore mark in July and the new growth capital will help it expand the balance sheet faster.
In another transaction, Axis Bank sold 715,202 shares of Sical Logistics at Rs. 16.2 per share through a bulk deal on the National Stock Exchange.
“Participants generally assessed that, provided that the economic recovery remained broadly on track, a gradual tapering process that concluded around the middle of next year would likely be appropriate,†minutes of the Sept. 21-22 Federal Open Market Committee meeting released Wednesday said.
“Our stellar performance and robust growth outlook continue to demonstrate our strategic focus and the strength of our digital offerings,†said Salil Parekh, chief executive officer at Infosys in a press statement.
A closer look at the trends in coal production, dispatch and power generation indicates that it is a poor coal supply management that failed to anticipate the impact of the pandemic on seasonality, which is at the root of the problem; definitely not an upsurge power consumption.
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