BYD India, a subsidiary of the world-leading New Energy Vehicles (NEV) manufacturer BYD, had launched the highly anticipated electric multi-purpose vehicle (MPV).
Published Date – 11 October 2024, 09:22 PM
Hyderabad: BYD eMAX7 car was launched at Gachibowli BYD showroom on Friday. The BYD eMAX7 have two variants, Premium 6 Seater and 7 Seater and Superior 6 Seater and 7 Seater with ex-showroom starting from Rs.26.90 lakh, Rs.27.50 lakh, Rs.29.30 lakh and top end, Rs.29.90 lakh. The chief guest for the launch was BYD Sales Head J Rajashekar, staff and customers.
BYD India, a subsidiary of the world-leading New Energy Vehicles (NEV) manufacturer BYD, had launched the highly anticipated electric multi-purpose vehicle (MPV). One of the vehicle’s notable changes over the outgoing model is the integration of the 8-in-1 electric powertrain from BYD’s highly acclaimed e-platform 3.0 and varied seating options.
While the Superior variant comes with a battery pack of 71.8 kWh, the Premium variant packs a 55.4 kWh battery pack, returning 530 km and 420 km of range NEDC (New European Driving Cycle) tested, respectively.
Rajeev Chauhan, Head of Electric Passenger Vehicles (EPV) Business at BYD India, said: “The launch of the BYD eMAX 7 is testament to our unwavering commitment to innovation and sustainability. This electric MPV is not just a vehicle; it’s a revolution in how progressive families experience travel.”
The automotive testing agency, functioning under the Ministry of Heavy Industries, has requested clarification from the EV company regarding the price reduction for its S1 X 2 kWh electric two-wheeler in the recently announced sale.
Updated On – 14 October 2024, 07:49 PM
New Delhi:Ola Electric shares closed nearly 3 per cent down on Monday – a fall for the third consecutive session – as the Automotive Research Association of India (ARAI) asked the EV firm to clarify its pricing practices.
The automotive testing agency, operating under the Ministry of Heavy Industries, has asked the EV company to provide clarification about a price reduction for its S1 X 2 kWh electric two-wheeler in its recently announced sale.
Ola Electric’s share closed at Rs 87.44 apiece. The stock has lost its sheen from its all-time high of Rs 157.40.
If fails to provide a satisfying answer, Ola Electric may face legal action and potentially lose the subsidies its electric vehicles are eligible for under the PM Electric DRIVE Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) scheme.
According to reports, if any violations are found, action is likely to be taken in accordance with the law and the E-DRIVE scheme guidelines.
Bhavish Aggarwal-run Ola Electric has also been slapped with a notice from the Central Consumer Protection Authority (CCPA), after the National Consumer Helpline (NCH) received over 10,000 complaints in the last one year regarding its poor after-sales service.
Ola Electric needs to reply to the CCPA’s show-cause notice within 15 days.
Meanwhile, the Centre on Sunday directed Ola to implement a mechanism allowing consumers to choose their preferred method of refund, and to provide consumers with a bill or receipt or invoice for all auto rides booked through its platform. As per information on NCH, 2,061 complaints have been registered against Ola from January 1, 2024, till October 9.
The top complaints included higher fares charged from consumers than what was shown at the time of booking the ride; non-refund of the amount to the consumer; driver asking for extra cash and driver not reaching the correct location or dropping at an incorrect location.
With changing regulations, economic conditions, and the evolving dynamics of the health insurance industry, understanding how these factors affect both investors and policyholders is crucial
Updated On – 1 November 2024, 11:34 AM
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New Delhi: Health insurance stocks are a significant component of the financial markets, influencing the broader healthcare landscape. While stock market trends may seem disconnected from policyholders’ day-to-day lives, they can significantly impact coverage costs and availability.
With changing regulations, economic conditions, and the evolving dynamics of the health insurance industry, understanding how these factors affect both investors and policyholders is crucial.
1. Market Trends Affecting Health Insurance Stocks Health insurance companies have a unique role in the market. They not only provide critical health coverage to millions of individuals but also operate in a highly regulated and complex environment, which makes them particularly susceptible to certain market forces. Let’s explore some of the key market trends impacting health insurance stocks:
a. Regulatory Changes and Policy Shifts
Health insurance is a sector where government regulations play a critical role. Changes in healthcare policies, such as adjustments to the Affordable Care Act (ACA), Medicaid expansion, or new mandates for minimum essential coverage, can significantly impact insurer profits.
For instance, stricter regulations often translate to increased compliance costs, whereas deregulation may lead to expanded market opportunities.
For policyholders, changes in regulations often mean shifts in the types of coverage available or changes in the subsidies offered. Regulatory updates can either increase premiums (due to added costs for insurers) or improve coverage options (when insurers receive incentives for expanding certain types of coverage).
Therefore, monitoring policy updates is crucial for understanding the direction of health insurance costs.
b. Economic Conditions and Inflation
A country’s overall economic health also directly affects health insurance stocks. During economic downturns or periods of high inflation, insurers may see a rise in claims as people defer necessary treatments during tough times.
Furthermore, rising healthcare costs driven by inflation can eat into profit margins if premiums do not adjust accordingly. The economic environment often translates to premium hikes for policyholders. During inflationary periods, the costs of medical services tend to rise, pushing insurance companies to increase premiums in response.
Policyholders may also face reduced coverage options as insurers attempt to manage profitability.
c. Consolidation in the Industry
Another key trend affecting health insurance stocks is industry consolidation. In recent years, many health insurers have merged with or acquired smaller firms to expand their customer base and reduce competition.
This trend toward consolidation aims to reduce costs and improve efficiency through economies of scale. This trend could mean fewer choices for policyholders when selecting health plans. Consolidation might improve service efficiency, but it may also lead to higher premiums due to reduced competition.
With fewer players in the market, insurance companies may gain greater control over pricing, ultimately leading to increased costs for policyholders.
2. Impact on Premiums and Coverage Availability The trends affecting health insurance stocks inevitably have a ripple effect on premiums and coverage availability, ultimately impacting policyholders.
a. Rising Premiums
Premiums will likely rise in response to economic factors, regulatory changes, and increased market consolidation. For instance, if inflation continues to push the cost of healthcare services, health insurance companies will raise their premiums to balance the rising costs.
In such scenarios, policyholders may feel the financial strain, especially those in employer-sponsored plans that pass on employee cost increases.
It’s also worth noting that premium increases aren’t always uniform across policyholders. As insurers attempt to maintain profitability, those with chronic illnesses or higher healthcare needs may face greater increases in out-of-pocket expenses compared to those with low healthcare usage.
b. Narrowed Coverage Networks
To manage profitability amid rising costs, health insurers may reduce the number of healthcare providers within their network or limit coverage to only specific services.
This means policyholders may face more restrictions on which doctors they can visit or what treatments are covered. For those living in rural areas, network restrictions could significantly limit their options for receiving care.
Moreover, as consolidation in the industry increases, coverage options may become more standardized. Fewer competitors mean less diversity in plan offerings, reducing the ability of policyholders to choose a plan that fits their specific healthcare needs.
3. Opportunities and Threats in the Health Insurance Sector
a. Technological Advances and Digital Health
One of the opportunities that has had a positive impact on health insurance stocks—and indirectly on policyholders—is the rise of digital health.
Telehealth services, mobile health apps, and wearable devices have opened up new channels for healthcare delivery, which can lead to better patient outcomes and reduced costs.
For policyholders, these advancements mean more convenience and potentially lower costs. Health insurers that invest in technology- driven services may offer lower premiums or additional incentives for using digital health platforms, allowing policyholders to receive more value from their insurance plan.
b. Public Perception and Consumer Behavior
The perception of health insurance companies and consumer behavior also plays a significant role in the health insurance market. With greater awareness of healthcare costs and a shift toward preventive care, many consumers are opting for higher deductible health plans paired with health savings accounts (HSAs).
This change in consumer behavior affects the types of policies insurers offer and ultimately impacts stock performance. For policyholders, understanding these trends can help them make informed choices about the type of health plan they opt for.
If preventive services are a priority, choosing a plan that emphasize wellness programs may help reduce long-term costs while maintaining coverage.
4. What Should Policyholders Do? Given the dynamic nature of the health insurance industry, it’s essential for policyholders to stay informed about market trends and adjust their coverage accordingly:
a. Monitor Premium Increases
Be proactive in understanding why your premiums are rising. If possible, consider switching plans or negotiating with your current provider to ensure you’re getting the best value.
b. Explore All Coverage Options
If consolidation has limited your options, explore government-supported plans or specialized health insurers that offer more diverse coverage. You may also consider supplemental insurance to fill any coverage gaps.
c. Embrace Digital Health Solutions
Look for insurers that offer incentives for using telehealth or wellness apps. These services can reduce out-of-pocket expenses and help maintain health at a lower cost.
The health insurance market is influenced by various factors, including regulatory changes, economic conditions, and industry consolidation. These market trends not only affect stock performance but also impact the coverage and premiums that policyholders face.
By staying informed about these developments and adapting their health insurance strategies, policyholders can better navigate the challenges and opportunities in the ever-evolving health insurance landscape.
The BSE Sensex began trading at 81,611.07 after slipping 209.05 points or 0.26 per cent in early trade
Published Date – 16 October 2024, 01:53 PM
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Mumbai: The Indian stock market began trading on a lower note on Wednesday, as Nestle and Infosys were among the top losers in the morning trade. The BSE Sensex began trading at 81,611.07 after slipping 209.05 points or 0.26 per cent in early trade.
At the same time, the NSE Nifty was trading at 24,999.45 after slipping 57.90 points or 0.23 per cent. However, the market trend remained positive. On the National Stock Exchange (NSE), 687 stocks were trading in the green, while 555 stocks were trading in the red.
On the Bombay Stock Exchange (BSE), 61 stocks were trading in the green and 52 stocks were trading in the red. Nifty Bank was at 51,878.45 after slipping 27.55 points or 0.05 per cent. The Nifty Midcap index was trading at 59, 635.05 level after gaining 41.80 points or 0.07 per cent.
At the same time, the Nifty 100 index was at 26,120.20 after slipping 28.90 points or 0.11 per cent. Asian Paints, HDFC Bank, Bajaj Finserv and Power Grid were the top gainers in the Sensex pack.
Nestle and Infosys were the top losers. SBI Life Insurance, HDFC Life, BPCL and Asian Paints were the top gainers in the Nifty pack. While Trent, M&M, TCS and Kotak Mahindra were the top losers.
According to market experts, the main driver of the bull run has been the sustained domestic flows into the market which has been absorbing all the selling by FIIs.
“The domestic flows will continue to support the market but elevated valuations will put a cap on the upside. Nifty is likely to consolidate around 25,000 levels. Q2 earnings will be weak except in IT, banking and pockets of autos,” they added.
The stock markets in Tokyo, Bangkok and Seoul were trading in the red. The markets of Shanghai, Hong Kong and Jakarta were trading in the green. The US stock market closed in the red on the previous trading day.
The new showroom was launched by Mahindra First Choice MD and CEO Mohammed Turra in the presence of VVC Group Chairman and Managing Director VV Rajendraprasad in Autonagar
Published Date – 16 October 2024, 05:05 PM
Hyderabad: Mahindra First Choice, in association with Car and Bikes has opened its first pre-owned car showroom in Telangana at Autonagar. The new showroom was launched by Mahindra First Choice MD and CEO Mohammed Turra in the presence of VVC Group Chairman and Managing Director VV Rajendraprasad.
Mohammed Turra told the media that the new stores will offer all the facilities and services that the company’s brand represents, including certified used-car sales, warranty on Mahindra Certified used cars, easy finance, and hassle-free RTO transfer. With the addition of the store, the company has now a network of over 1150 outlets across the country.
VV Rajendraprasad said First Choice, which has started selling and buying pre-owned cars in India, opened the first pre-owned car showroom in Telangana with VVC Group as part of its expansion. “Here we will maintain lowest prices and with quality standards to our customers,” he added.
Retail Business Head Jay Rungta, Zonal Head Retail Harshil Desai, Regional Sales Manager Abhishek Kumar, Auto Nagar Showroom General Manager Narayana Murthy and showroom staff participated in this event.
This special edition, designed with a focus on enhancing style, and premium-ness, comes with a well curated Toyota Genuine Accessories (TGA) package to elevate delight and excitement to customers.
Published Date – 16 October 2024, 07:03 PM
Hyderabad: Adding to the festive fervour, Toyota Kirloskar Motor (TKM) on Wednesday announced the Limited Edition of its highly popular model – Urban Cruiser Taisor. This special edition, designed with a focus on enhancing style, and premium-ness, comes with a well curated Toyota Genuine Accessories (TGA) package to elevate delight and excitement to customers.
Available across all Turbo variants, the Limited Edition comes with a comprehensive TGA package of Rs.20,160 enhancing both the exterior and interior of the versatile UC Taisor. List of key features include front and rear under spoilers in granite grey and red colors, premium door sill guards, chrome garnishes for the headlamps and front grille, body side molding, door visor premium and all-weather 3D mats and a welcome door lamp.
All TGA will be fitted by certified Toyota technicians at dealerships, ensuring the highest quality and customer satisfaction.
Sabari Manohar – Vice President, Sales-Service-Used Car Business, Toyota Kirloskar Motor, said, “Following the recent introduction of the Urban Cruiser Hyryder Festive Edition, we are excited to offer the Urban Cruiser Taisor Festive Edition, designed to bring something fresh and exciting to this festive season.” Customers can either book the car online https://www.toyotabharat.com/online-booking/ or visit their nearest Toyota dealership.
India’s gold reserves reached $65.76 billion as of October 4, up from $21.15 billion on December 7, 2018, according to RBI data. Since Shaktikanta Das took office as RBI Governor in December 2018, foreign exchange reserves have also surged by 78%, rising to $701.18 billion as of October 4, compared to $393.74 billion in December 2018.
Updated On – 17 October 2024, 02:52 PM
New Delhi: As India’s foreign exchange reserves surpassed $700 billion, the share of gold in the country’s forex has also surged more than 209 per cent since 2018.
India’s gold reserves stands at $65.76 billion (as on October 4), compared to $21.15 billion as on December 7, 2018, according to the Reserve Bank of India (RBI) data. Shaktikanta Das assumed the RBI office in December 2018.
Under his tenure, forex also went up 78 per cent. The total foreign exchange reserves of India stood at $701.176 billion (as on October 4) compared to $393.735 billion on December 7, 2018.
The central bank’s gold holding increased by 27.46 metric tonnes to 822.10 metric tonnes in FY24, according to its “Half Yearly Report on Management of Foreign Exchange Reserves”.
The RBI also brought home more than 100 tonnes of gold from the UK this year.
In value terms (USD), the share of gold in the total foreign exchange reserves increased to about 8.15 per cent as at end-March 2024 from about 7.81 per cent as at end-March 2023.
Of the total gold holdings, 408.31 metric tonnes were held domestically while 387.26 metric tonnes were kept in safe custody with the Bank of England and the Bank for International Settlements (BIS).
According to industry experts, gold prices stayed elevated on Wednesday with gains of Rs 350 in MCX, while Comex gold traded above $2,675, up 0.55 per cent.
Traders continue to position themselves on expectations that the Federal Reserve will maintain its path of interest rate cuts. This has sustained bullish sentiment around the yellow metal, which reached record highs in September.
Since then, gold has been consolidating in the low-to-mid $2,600 per ounce range, as traders anticipate a slower pace of rate cuts from the Fed.
The geopolitical situation in the Middle East has further bolstered safe-haven demand for gold, adding to its upward momentum. D
As long as the Federal Reserve’s dovish tone and geopolitical risks remain, gold is likely to continue trading with a positive bias, said Jateen Trivedi from LKP Securities.
The Moneyview survey revealed that over 85% of the 3,000 respondents regard gold as a valuable asset for wealth preservation, citing its intrinsic value and historical performance as key factors influencing consumer confidence.
Published Date – 17 October 2024, 05:00 PM
New Delhi: Seven out of 10 (70 per cent) Indians consider gold as a safe asset that positively influences their savings habits, a survey report said.
According to the Moneyview survey, “over 85 per cent of the 3,000 respondents consider gold a valuable asset for wealth preservation, with its intrinsic value and historical performance continuing to drive consumer confidence”.
The survey further said that investors particularly in the age group of 25-40 years, invest in gold via both the physical and digital way, as part of their regular financial strategy to build wealth for retirement and other long-term goals.
“70 per cent of respondents reported that their perception of gold as a safe asset positively influences their savings habits,” the survey said.
In the digital era, the appeal for gold is increasingly driving investors towards digital tech platforms that offer easier access to gold.
The survey further said: “Assured purity, insured storage, affordable investment due to availability of Systematic Investment Plan (SIP) options, and safety among others are some of the key drivers for digital gold investments across India.”
According to the survey data, “over 75 per cent of respondents under the age of 35 prefer digital gold to physical gold, citing its liquidity and convenience as major factors”. More than 50 per cent of the respondents believe that the ability to purchase gold in fractional amounts through digital platforms is one of the most lucrative features driving them towards changing their investment habits. Nearly 65 per cent of millennials surveyed expressed a preference for digital gold due to its ease of access and convenience.
Sushma Abburi, Chief Business Officer at Moneyview, said: “Digital gold is revolutionising the way people invest in this timeless asset.”
“The lower entry barriers, ease of access and enhanced security make digital gold a highly convenient and valuable option for today’s investors,” she added.
According to the latest provisional data, the Qualified Institutional Buyers (QIB) portion was subscribed 6.94 times, while Non-Institutional Investors (NII) subscribed 0.57 times and retail investors subscribed 0.48 times. The IPO saw a 42 percent subscription on its second day, following an 18 percent subscription on the first day. The price band for the IPO was set at Rs 1,865 to Rs 1,960 per share.
Updated On – 17 October 2024, 07:26 PM
Mumbai:Hyundai Motor India Ltd‘s initial public offering has been subscribed 2.34 times till 4 p.m. on its third and last day on Thursday as the qualified institutional buyers (QIB) portion in the IPO was subscribed nearly 7 times.
According to the latest data (provisional), the reserve portion for the QIB was subscribed 6.94 times, non-Institutional Investors (NII) subscribed 0.57 times, and retail investors subscribed 0.48 times.
The IPO was subscribed 42 per cent on its second day and 18 per cent on the first day. The IPO price band was fixed at Rs 1,865-Rs 1,960 per share.
This IPO is a pure offer for sale (OFS). It is the first offer from an automaker to list in India in over two decades. Due to being OFS, the entire proceeds will go to the promoter.
Ahead of the public issue, Hyundai Motor India raised Rs 8,315 crore from anchor investors on Monday. It allotted 4.24 crore shares at Rs 1,960 apiece to 225 anchor investors, according to a company statement.
Hyundai Motor India held a 14.6 per cent market share in the domestic passenger vehicle (PV) market in Q1 FY25, second to Maruti Suzuki which has a 41 per cent share in this category. However, Hyundai Motor India is the market leader by volume in the mid-size SUV segment with around 38 per cent share as on June’24. It is also India’s second-largest exporter of PV from April 2021 to June 2024.
In FY 2023-24, Hyundai Motor India sold 7.77 lakh vehicles, of which 21 per cent was exported to countries like Africa, the Middle East, Europe and Latin America. The company has 1,366 sales points and 1,550 service outlets in India. Its revenue in the last financial year was Rs 69,829 crore. During this period, the company made a profit of Rs 6,060 crore and Its margin was around 13 per cent. Hyundai Motor India’s revenue in the Q1 of FY 2024-25 was Rs 17,344 crore. From April to September, the company made a profit of Rs 1,489 crore and its margin was 13.5 per cent.
The trains are designed to run on the 26 km corridor, a segment of Phase-II linking Poonamallee Bypass to Light House via 28 stations
Published Date – 18 October 2024, 09:08 AM
The trainsets produced at the Sri City facility in neighbouring Andhra Pradesh are part of the Centre’s ‘Make in India’ and ‘Atmanirbhar Bharat’ initiatives. — Photo:X
Chennai: French multi-national Alstom, a leader in smart and sustainable mobility, has delivered the first driverless trainset to the Chennai Metro Rail Phase II project, a top official said.
Alstom bagged orders to produce 36 trains, each comprising three cars, in February this year. The trains are designed to run on the 26 km corridor, a segment of Phase-II linking Poonamallee Bypass to Light House via 28 stations of which 18 are elevated and 10 underground, the company said in a statement.
The trainsets produced at the Sri City facility in neighbouring Andhra Pradesh are part of the Centre’s ‘Make in India‘ and ‘Atmanirbhar Bharat’ initiatives.
The project is valued at Euro 124 million which include training the Chennai Metro personnel in operation and maintenance. These trains would offer an efficient, environment friendly and comfortable solution for passengers of Chennai, a company statement said.
“Chennai Metro has become a beacon of efficient and reliable transportation, transforming daily commutes for its residents. We are proud to support this vision by delivering world-class Made-in-India driverless metro trains that not only elevate the commuter experience but also drive sustainable mobility by reducing emissions and easing road congestion,” Alstom India Managing Director Olivier Loison said.
The trains have been designed in Bengaluru and are built at the manufacturing facility in Sri City, Tada, Andhra Pradesh. “As India’s trusted partner in advancing sustainable transportation, Alstom is committed to strengthening this partnership and reshaping Chennai’s mass transit landscape for a greener future,” Loison added.
In 2010, Alstom delivered 208 metro cars for Phase I of the Chennai Metro Rail project. With the delivery of first trainset of Chennai Metro Phase II, Alstom continues to solidify its commitment to transforming the mobility landscape of Chennai, driving the city towards a more connected and sustainable future.
