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Buy ICICI Lombard General Insurance Company, target of Rs 1400: Sharekhan

January 28, 2023 by www.moneycontrol.com

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Sharekhan's research report on ICICI Lombard General Insurance Company ICICI Lombard reported PAT of Rs. 346 crore (up 9% y-o-y/ down 41% q-o-q) which missed our estimates mainly due to lower investment income and lower premium income. Underwriting loss stood at Rs. 293 crore in Q3FY23 versus a loss of Rs.269 crore in Q3FY22 and loss of Rs. 152 crore in Q2FY23. Gross written premium grew by 17% y-o-y/5.6% q-o-q led by faster growth in commercial lines and Retail/group health segment; while motor business was a laggard with 5% y-o-y growth due to 1% y-o-y growth in Motor OD. Motor TP premium grew by 10% y-o-y. Retail health premium picked up, grew by 24% y-o-y & Group Health grew by 57% y-o-y. The combined ratio was at 104.4% vs 104.5% in Q3FY22 and 105.1% in Q2FY23. Claims ratio decreased … [Read more...] about Buy ICICI Lombard General Insurance Company, target of Rs 1400: Sharekhan

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Buy Maruti Suzuki; target of Rs 10,600: Prabhudas Lilladher

January 28, 2023 by www.moneycontrol.com

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Prabhudas Lilladher's research report on Maruti Suzuki We increase our EPS estimates by 6/3/1% for FY23/24/25 as we build in higher realisations led by improved product mix along with volumes for newly launched Jimny and Fronx. In 3QFY23, Maruti’s (MSIL) EBITDA margin at 9.8% expanded 50bps QoQ led by (1) better-than-expected realisations (Rs 623k, +8% QoQ) driven by increased contribution from UVs (21% vs 16% sequentially) and (2) benefit from raw material cost softening (+40 bps QoQ). The company currently has order book of 363k units of which ~33% is contributed by new models – Brezza, Vitara, Baleno. Newly launched Jimny (off-roader) and Fronx (compact SUV) have also received good response and deliveries are expected to commence from beginning of FY24. This will lead to increased … [Read more...] about Buy Maruti Suzuki; target of Rs 10,600: Prabhudas Lilladher

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Mercedes-Benz India CEO clarifies why ‘SIPs are competition’. Here is what he said

January 7, 2023 by www.moneycontrol.com

Santosh Iyer, the newly-appointed MD and CEO of Mercedes-Benz India, sparked a debate in November when he said that systematic investment plans (SIPs) are the luxury car brand’s biggest competitor in the country. He has now clarified that his remarks were made in the context of luxury market growth. “The statement made was in the context of the luxury market growth, what will happen in three to five years’ time,” Iyer told Moneycontrol in an interview . In November, Iyer, who was then the sales and marketing head of Mercedes-Benz India, had told Times of India that SIPs in mutual funds were eating into luxury car sales in India. If a potential customer diverted Rs 50,000 into buying a luxury car instead of investing through SIPs, the luxury car business would “explode,” Iyer had said. “The context of the discussion is that there are a couple of factors to change,” he clarified in a January interview with Moneycontrol. These factors, he said, included the fact that the … [Read more...] about Mercedes-Benz India CEO clarifies why ‘SIPs are competition’. Here is what he said

Filed Under: Uncategorized Mercedes-Benz, Santosh Iyer, Mercedes-Benz India, SIP, CEO of Mercedes Benz, mercedes benz india limited, mercedes benz in india, india mercedes benz

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