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MUMBAI: Several high-profile sovereign wealth funds, foreign institutional investors and domestic institutional investors lapped up shares of
SBI Life Insurance Company today after the Carlyle-arm fund sold some stake via the open market.
CA Emerald Investments sold 42.3 million shares or 4.22 per cent stake in the life insurer through several block deals on the BSE earlier today. The private equity fund’s stake has now fallen to 1.78 per cent.
However, marquee investors such as Abu Dhabi Investment Authority, Norges Bank, Government of Singapore, Monetary Authority of Singapore and Kuwait Investment Authority nibbled on the company’s stock.
Among FPIs, the prominent buyers included Morgan Stanley Asia, Societe Generale, Amazon Market Neutral Fund, Copthall Mauritius Investment, Baron Emerging Market Fund, Vanguard Total International Index Fund and Integrated Strategies.
Bajaj Finserv launches SavdhanRahein Safe Rahein , a Public Awareness Campaign on Financial Fraud Risks equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
Bajaj Finserv Q4 consolidated net profit surges to ₹979 crore
April 28, 2021
For 2020-21, the company’s consolidated net profit soared 32.7%
Bajaj Finserv has reported a consolidated net profit of ₹979.06 crore for the quarter ended March 31, compared to ₹194.43 crore in the same period in 2019-20.
“As on March 31, 2021, BSE Sensex has rebounded by over 68 per cent from March 31, 2020 levels, resulting in higher than normal mark-to-market gain on investments of insurance subsidiaries during 2020-21. This has resulted in an increase in consolidated profit after tax of ₹892 crore for 2020-21 compared to decrease of ₹451 crore in the fourth quarter and 2019-20,” Bajaj Finserv said in a statement on Wednesday, noting that the consolidated profit figures for the current quarter and year ended may not be directly comparable with those of the corresponding previous periods.
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Long-term investor life insurers raised stakes in 8 stocks by up to 14% in Q4
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Insurers are considered long-term investors in the market, as they have a longer mandate to invest policyholders’ money.
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Five of the eight stocks managed to beat the flat returns on Sensex on a year-to-date basis.
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NEW DELHI: Insurance companies lapped up shares of at least eight BSE500 companies during the January-March quarter and increased holdings by between 200 basis points and as high as 14 per cent. Five of the eight stocks managed to beat the flat returns on Sensex on a year-to-date basis.