- Axis Bank has increased its stake in Max Life Insurance to 5.99 per cent. Max Financial Services recently informed the exchanges that it sold 3.99% stake for Rs.76.56 crore to the bank. The deal values the insurance insurance company at around Rs.1,918 crore approximately.
- Axis Bank Ltd holds the key for the success of the HDFC Life and Max Life merger. With sales through Axis accounting for more than half of Max Life's revenue, the entire valuation is dependent on Axis continuing with the distribution deal.
- Recently, HDFC Life and Max Life declared their intention to merge their businesses to create the country's biggest private sector insurer amid 'challenges' which the two companies look to overcome with a three-decade old relationship between Deepak Parekh and Max Group founder Analjit Singh behind them. A challenge before Max would be to get Axis Bank on board which is the corporate agent for Max Life and generates close to 60% policy premium income.
- Kesoram Industries Ltd has informed on 17 June, 2016 that Brickwork Ratings has assigned A+ rating for its Rs. 2,200 crore long-term loan with Axis Bank.
Presidential Elections: Support Dr.Meira Kumar
Bihar and Jharkhand governments have no choice but to support Dr.Meira Kumar. As defeat of "Bihar ki Beti" will invariably bring Shame to the Biharis and Jharkhandis (or erstwhile unified Bihar). Do you think that, people of Bihar will leave Nitish Kumar Scott - free, if Dr.Meira Kumar loses ? So, Nitish Kumar has very little option left but to support, Dr.Meira Kumar.
Moreover, if Nitish Kumar wants to fall in the BJP's well calculated electoral TRAP no one can save him in the next election.
Also, I am surprised to see Mr.Navin Pattanayak, so easily chewing the RSS bait. Orissa is a state, where there is large chunk of Tribal Christian voters loyal to the BJD (Biju Janata Dal). I am still to fathom, BJD's sudden electoral gamble of siding with the RSS and the BJP; when Mr.Pattanayak has been maintaining distance from them since some time.
Besides, the election of Dr.Meira Kumar, who is educated, experienced and very sober, might also correct some of the historical mistakes of not making her father, the Prime Minister of India.
Also, I don't think all the Muslim and Christian MPs and MLAs from the TDP and TRS will ever support a RSS backed Candidate, who acted against Dalit Christian and Muslin reservations. Therefore, invariably cross voting will take place, which might give the underdog, Ms.Kumar, a win. Support Dr.Meira Kumar, give a conscience vote and make her the 2nd Female President of India.
All the best to Dr.Meira Kumar.....👍✌
Thursday, June 23, 2016
Axis Bank Ltd: Buy