In Friday’s intraday trade, shares of Godrej Properties, Amber Enterprises India, Avanti Feeds, CESC, IFB Industries, Motilal Oswal Financial Services, and Nippon Life India Asset Management Company hit their respective 52-week lows on the BSE. between the comments made by the US Treasury Secretary and the Federal Reserve’s rate hike.
In today’s intraday trade, Life Insurance Corporation of India (LIC) and Aditya Birla Sun Life AMC traded their Life Time Low shares on the BSE, both declining 1% to Rs 562.35. touched On reports that the government has raised interest rates on debt mutual funds (MFs) for investors, shares of asset management companies (AMCs) were also under pressure, falling up to 5% in Friday’s intraday trade on the BSE. taxing profits was proposed. slab rate, regardless of investment duration.
On February 27, LIC shares fell below their previous low of Rs 566. The state-owned company’s premium decreased 32% YoY in February, resulting in a 9 percent drop in the stock over the past three weeks. because of the decline in the group single premium segment.
In general, Emkay Global Financial Services’ analysts anticipate that the industry will experience moderate growth in March 2023, particularly among private players, as long as prebooking of high-ticket, non-linked savings products continues. Against this background, the business anticipates that the business should post retail Gorilla development of 14-15 percent for FY2023E, with the confidential area filling in the high adolescents and LIC conveying ~10 percent development. ” “In the current uncertain environment, we expect life-insurance stocks to remain range-bound in the near term, supported by valuations,” analysts stated in a sector update.
Consumer discretionary companies examined demand amid high inflation, inventory destocking, and a negative base from last year as IFB Industries and Amber Enterprises India touched 52-week lows.
In October 2022, the month of Diwali, the market demand significantly decreased. In November and December of 2Q22, demand decreased, and customers made fewer purchases of various product categories. However, in Q3, the cost of input commodities decreased. With improved operating leverage and less inflationary pressure on raw material prices, analysts anticipate that EBITDA margin will improve further after the fourth quarter.