Page 2 - Icici Prudential

ICICI Prudential mutual fund buys Star Health's shares for Rs 193 crore

ICICI Prudential Mutual Fund on Tuesday bought shares of Star Health and Allied Insurance Company for Rs 193 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), ICICI Prudential Mutual Fund purchased 35,74,074 shares, amounting to a 0.61 per cent stake in Star Health and Allied Insurance Company. The shares were acquired at an average price of Rs 540 apiece, taking the transaction value to Rs 192.99 crore. Details of the seller(s) could not be ascertained. On Tuesday, shares of Star Health and Allied Insurance Company fell 1.42 per cent to close at Rs 545.05 apiece on the NSE. In a separate bulk deal on the BSE, Abakkus Asset Manager LLP picked up shares of rice milling company LT Foods for Rs 55 crore through an open market transaction. According to the bulk deal data available with the BSE, Abakkus Asset Manager bought 33.93 lakh shares at an average price of Rs 162.04 apiece. This took the deal value to R

ICICI Prudential offers 100% refund in pension plan at any stage of policy

ICICI Prudential Life Insurance on Thursday launched a new pension plan offering 100 per cent return at any stage of the policy, making it the industry's first annuity plan that offers to return full refund of premium paid at any time starting from the date of purchase. The product is the first one after the regulator Irdai issued draft guidelines last November mandating insurers to return a higher amount on surrender of a policy mid-term. In a statement, the company said this is the industry's first annuity product to give back 100 per cent of the premium paid at any time in alignment with the proposed regulations on offering policyholders fair and appropriate surrender value. The new product also offers loan against the policy to meet liquidity needs of the insured. Customers can choose from an array of annuity options such as single-life option, in which the income is paid for as long as they live, or a joint-life option, where after one passes away, the income is paid to the ...

Attractive spreads drive arbitrage funds to better returns in 2023

Staged strong comeback last year, stole march over debt funds to post best performance in 8 years

ICICI Prudential Life gets GST demand notice of Rs 270 crore for 2017-18

ICICI Prudential Life Insurance on Wednesday said tax authorities have slapped a demand notice of Rs 270 crore on it for alleged short payment of GST for 2017-18. The Maharashtra Goods and Service Tax (GST) authority has demanded GST along with applicable interest and penalty for 2017-18 fiscal for reversal of input tax credit; difference in GST liability filed in GSTR-1 and GSTR-9; mismatch in ITC claimed in GSTR-3B and GSTR-2A; and interest on GST payment on proposal deposit. The total demand of Rs 269.86 crore includes GST of Rs 119.56 crore, interest of Rs 138.34 crore, and penalty of Rs 11.95 crore. "The company shall file an appeal against the said order before the Commissioner (Appeals) within the prescribed timelines," ICICI Prudential Life Insurance Company said in a BSE filing. Shares of ICICI Prudential settled at Rs 526.55 apiece, up 0.56 per cent over previous close on the BSE. In a separate filing, ICICI Lombard General Insurance said it has received a demand notice

Premium, terms, returns of various retirement plans explained in table

Policybazaar table lists pension offers of various financial companies

Multi-asset fund turned Rs 10 lakh into Rs 5.5 cr in 21 yrs: ICICI Pru MF

ICICI Prudential Mutual Fund's multi-asset fund has turned into a wealth creator for investors by giving an annualised return of 21 per cent since its inception in October 2002, the company said on Friday. An investor who put in Rs 10 lakh at the time of inception would now be sitting on about Rs 5.5 crore as of September 30, indicating a Compound Annual Growth Rate (CAGR) of 21 per cent, according to a statement by ICICI Prudential Mutual Fund. In terms of Systematic Investment Plan (SIP) performance, a monthly investment of Rs 10,000 through the route since the inception on October 31, 2002, which would amount to a total investment of Rs 25.2 lakh, would have grown to Rs 2.1 crore as of September 30 this year, showing an annualised return of 17.5 per cent. ICICI Prudential Multi-Asset Fund, which recently completed 21 years, has an Asset Under Management (AUM)of Rs 24,061 crore accounting for nearly 57 per cent of the total AUM in the multi-asset allocation category. The fund is

Table: Life insurance policy terms, rates of 10 leading companies

Policybazaar.com table explains what a customer living in a metro city will have to pay

ICICI Pru Life Insurance launches a product offering income for 30 years

Further, customers can customise the product from a range of income benefits and premium payment terms, among other flexibilities, stated the press release

The focus is certainly on VNB growth: ICICI Pru Life Insurance MD & CEO

No partner has more than 2-3 per cent concentration with us

ICICI Prudential Q1 profit jumps 33% to Rs 207 crore on investment gains

The company had a debt-equity mix of 54:46 at June 30 and 97.1% of the fixed income investments were in sovereign or AAA-rated instruments

I-T dept cracks down on Bajaj Allianz, ICICI Prudential amid wider probe

The Irdai has, effective April 1, removed separate limits for commissions and has imposed an overall ceiling on operating expenses and commissions

We walked the talk on value of new business: ICICI Pru Life CEO & MD Kannan

VNB has more than doubled and margins have expanded from 17 per cent to 32 per cent. So, given this, I would say, we have achieved more than we had told the market

ICICI Pru soars 9% after appointment of Anup Bagchi as MD & CEO of company

Anup Bagchi had joined the ICICI Group in 1992 and had worked in the areas of retail banking, corporate banking and treasury.

Large-Cap Equity: What makes ICICI Pru MF's Anish Tawakley an outlier

ICICI Prudential Bluechip Fund has generated higher returns than its benchmark over the one- and three-year periods by minimising risk and focusing on steady performance

Short-to-medium debt: Active play pays dividends for ICICI MF's Banthia

ICICI Prudential's short-term and medium-duration funds outperformed on the back of timely shifts in strategies

Fund Pick: ICICI Prudential Value Discovery Fund a consistent outperformer

The scheme's investment objective is to seek long-term wealth creation by actively investing in equity/equity-related securities, following a value investment strategy

ICICI Prudential Life Insurance confident to cross FY23 VNB target by March

It is the second-largest private player in terms of VNB

Short duration optimised for YTM is the best strategy right now”

Currently, yield to maturities (YTMs) of debt mutual funds have become very attractive, so it is a good time to add to your allocation to these funds. Instead of looking at past returns, investors should look at yield to maturity to understand the trajectory of future returns, says Manish Banthia, Deputy CIO, Fixed Income, ICICI Prudential Mutual Fund. Speaking to Sanjay Kumar Singh, Associate Editor, Business Standard, he said he expects one more rate hike of 25 basis points to be followed by a long pause. Watch this interview to understand where interest rates are headed and the best categories of debt mutual funds you should invest in right now.

ICICI Prudential Equity & Debt Fund: An outperformer in hybrid category

The fund's investment objective is to generate long-term capital appreciation and current income from a portfolio invested in equity, equity-related securities, and fixed-income securities

Fusion microfinance subscribed 3x on Day-2 on strong institutional support

Medanta Hospitals IPO subscribed 36% on day-2, Bikaji Foods by 1.5 times