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Broker s call: ICICI Lombard (Buy) - The Hindu BusinessLine

Broker s call: ICICI Lombard (Buy) | Updated on CMP:₹1,465.90 ICICI Lombard General Insurance is a private general insurance company, listed on September 27, 2017. The company offers various insurances covering travel, home, health and motor segments. For Q3-FY21, Gross direct premium income (GDPI) rose 9.3 per cent y-o-y positively impacted by P&C segment (25.7 per cent) and Motor segment (14.3 per cent). PAT grew 6.6 per cent to ₹314 crore owing to capital gains of ₹108 crore (vs ₹17 crore in Q3-FY20) and lower claims incurred (-2.3 per cent). Though we may see increase its sales and promotional expenses owing to pressure from competition, we expect the margins to improve from current levels. The company has managed to hold profitability this quarter mainly from capital gains.

Reliance Capital asset sale: SBI Life and Apollo join the race, nearly 70 bids received so far

Reliance Capital asset sale: SBI Life and Apollo join the race, nearly 70 bids received so far Reliance Capital asset sale: SBI Life and Apollo join the race, nearly 70 bids received so far IANSDec 22, 2020, 17:24 IST BCCL New Delhi, Reliance Capital s (RCAP) expression of interest (EOI) for asset monetisation garnered mega response with 60 bids being received. SBI Life and Apollo are among the 10 new bidders who have submitted expressions of interest for Reliance Capital s assets, taking the total number of bids to 60. December 1 was earlier the deadline for the submission of EOIs. Over 60 different bids have been received with SBI Capital Markets Limited and JM Financial Services Limited, the advisors to the lenders. Later the date for submitting the bids was extended to December 17.

Reliance Capital s EOI for asset monetisation receives 60 bids

Reliance Capital s (RCAP) expression of interest (EOI) for asset monetisation garnered mega response with 60 bids being received. December 1 was the deadline for the submission of EOIs. Over 60 different bids have been received with SBI Capital Markets Limited and JM Financial Services Limited, the advisors to the lenders. Over eight bidders have bid for entire RCAP assets on as-is-where-is basis. The prominent among them are Oaktree, J.C. Flower and multiple ARCs. For Reliance General Insurance, which is owned 100 per cent by RCAP, there are 18 bidders and prominent among them are, Chryscap, J.C. Flower, Blackstone, KKR, CVC Capital Partners, and Bain Capital.

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