Morning Podcast: The Espresso Business Update News

The Centre is considering a reduction in the GST tax rate on health insurance premiums to make it more affordable for the public. Currently set at 18%, the proposed lower rate of 12% would apply to premiums up to Rs 30,000. This move could potentially lead to a decrease in premium rates or the introduction of additional health cover options, catering to the diverse needs of individuals and families.

In other news, IndusInd International Holdings, a Hinduja Group firm, is anticipating a significant increase in the valuation of its banking, financial services, and insurance business. Chairman Ashok P Hinduja revealed that the valuation could nearly triple to $50 billion by 2030. The group is also looking to raise its stake in IndusInd Bank and has received funding offers for the takeover of debt-laden Reliance Capital.

Meanwhile, the startup ecosystem is experiencing a rise in down rounds, with nearly 20% of large venture capital deals in 2023 and early 2024 seeing valuation cuts. This trend, the highest since 2015, is expected to continue throughout the year, impacting startups across various stages of growth.

On the economic front, the SME IPO market is witnessing a surge, with the total fundraise in the first four months of 2024 already half of the amount raised in the entire previous year. Additionally, despite record agricultural loan disbursals, regional disparities persist, as highlighted by Nabard’s latest data.

Non-banking financial companies are increasing fixed deposit rates to attract funds, offering higher yields for different maturity tenures. Lastly, stocks in focus today include Titan, Britannia Industries, Inox Wind, HDFC Bank, Adani Green, Vodafone Idea, and Aurobindo Pharma, with varying financial performances in the fourth quarter of FY24.