"Although the company made a debut with a flat opening, its wide geographical distribution network and strong fundamentals offer good opportunity for the long-term as its target customers are low-income groups from rural and semi-urban areas," said Raj Gaikar, analyst, Samco Securities. "The housing finance credit share of rural and semi-urban locations is rising continuously, giving housing finance companies (HFC) an opportunity to expand their operations."
If IRDAI considers increasing the surrender value, it will likely impact insurance companies s profitability as well as policyholder’s behaviour, analysts said.
Prashant Jain believes that given the scale at which the government is planning the solar rooftop plan, the utilities space will become crowded. However, he sees some good investment options in the utilities supply side.
Mahindra Group has also appointed its CFO Manoj Bhat, as the new CEO of Mahindra Holidays Resorts India Ltd. The transition in leadership is scheduled for May 17, 2024.
Nifty Metal led the losses, falling around 1 percent. Nifty Pharma, Infra and IT indices were also trading with losses. On the flipside, gains in Nifty PSU Bank, Auto, Bank, Energy and FMCG indices capped losses for the headline indices.