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Niva Bupa shares rally over 10% after Q4 profit jump
Ankur Kharbanda, Executive Director & Chief Business Officer, has been elevated to the role of Executive Director and Deputy Chief Executive Officer with effect from May 8, 2026.
Niva Bupa Health Insurance Company Shares rallied more than 10 per cent in early trade on Monday after the company reported a sharp rise in fourth-quarter profit, aided by strong premium growth and improved operating metrics.
At 10.14 am, it traded at ₹85.18 on the NSE, hitting a high of ₹89.77 from the previous close of ₹81.29.
Niva Bupa shares in focus
It posted a 67 per cent yoy jump in net profit to ₹345 crore for the March quarter, compared with ₹206 crore in the corresponding period last year. Total income during the quarter rose to ₹2,078 crore from ₹1,565 crore a year ago, while total expenses increased to ₹1,795 crore from ₹1,470 crore.
Gross written premium grew strongly to ₹2,880 crore in Q4FY26 from ₹2,079 crore in the year-ago quarter, reflecting continued momentum in policy sales and market share gains.
However, the solvency ratio declined to 2.49 as of March 31, 2026, compared with 3.03 at the end of the corresponding quarter last year.
The company also announced the elevation of Ankur Kharbanda, currently executive director and chief business officer, to the role of executive director and deputy chief executive officer with effect from May 8, 2026.
Managing Director and Chief Executive Officer Krishnan Ramachandran said the company’s market share gains and improvement in claim settlement ratio reflected customer trust and its continued focus on delivering superior health insurance experiences.
Morgan Stanley maintained its equal-weight rating on the stock and raised the target price to ₹91 from ₹84. The brokerage said the company reported a strong IFRS profit beat driven by lower operating expenses and improvement in the combined insurance service ratio (CISR).
The brokerage highlighted that FY26 CISR improved 160 basis points to 101.4 per cent despite higher retail and group loss ratios, while the operating expenses ratio declined sharply to 36.5 per cent from 39.2 per cent in FY25.
Morgan Stanley said management is targeting a CISR of 99 per cent by FY29 through tighter cost control. The brokerage also raised its FY27 IFRS profit estimates by 14 per cent on lower operating expense assumptions, although it cautioned that retail loss ratios are expected to worsen gradually as the portfolio seasons.
Published on May 11, 2026
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Jio Platforms IPO pivots to pure fundraise, no investor exits
Billionaire Mukesh Ambani’s Reliance Jio Platforms has pivoted to a pure fundraise for its planned Mumbai listing, dropping earlier plans that would have allowed some shareholders to exit, two sources said.
“Given the uncertainty in markets due to the situation in West Asia, investors have chosen to stay invested in the company rather than use the IPO as an exit opportunity,” one of the sources said.
Ambani’s Jio Platforms, which houses the world’s second-largest telecom company by users after China Mobile, counts Meta, Google and Vista Equity Partners among its investors.
Published on May 11, 2026
Mp News: Fire broke out at petrol pump in Rajgarh, accident happened while emptying the tanker; 11 people burnt – Rajgarh Petrol Pump Fire 11 People Burnt One Critical News In Hindi
There was chaos in the market in Pachor town of Rajgarh district when a massive fire suddenly broke out in a petrol pump located on the main road. The fire could be controlled after about two hours. According to eyewitnesses, petrol was being emptied from the tanker into the underground tank, when strong flames erupted and within no time the entire complex was engulfed in smoke. A pump employee got burnt in the accident, who was immediately taken to the civil hospital.
The incident took place tonight at 8:30 pm. Amidst the hustle and bustle of the market, suddenly high flames erupted at the decanting point of the petrol pump. Hearing the sound like a loud bang, nearby shopkeepers and customers got scared. People ran to save their lives, many shopkeepers pulled down their shutters and went to safe places. Within a few minutes, smoke spread throughout the area and visibility reduced.
Read this also- Bribery busted in the name of PM house installment, Panchayat Secretary arrested red handed for taking six thousand rupees
As soon as the information was received, Pachor police station and city council’s fire brigade and fire team reached the spot. Additional fire vehicles were also called from Rajgarh and Biaora. The fire could be controlled after about an hour of effort. The flames did not reach the surrounding residential areas in time, otherwise a major accident could have occurred. As a precautionary measure, the police surrounded the entire area and diverted the traffic.
According to the pump management, the burnt employee has been identified as Dinesh Mewada. He was standing near the nozzle while emptying the tanker. Due to the fire, his hands and face got burnt, apart from this 10 more people got burnt. A total of 11 people, including minor ones, were burnt to death in the fire. After first aid, they were referred to Rajgarh District Hospital, where doctors declared their condition to be stable.
At present, the clear cause of the fire has not been known. In the preliminary investigation, there is a possibility of spark arising from static charge or short circuit. SDM and SDOP reached the spot and took stock. Forensic team and security officials of Indian Oil have also been called for investigation. The petrol pump has been sealed till further orders.
Council staff dubbed the ‘Pink Ops’ allegedly promoted friends, NSW anti-corruption watchdog hears | Independent Commission Against Corruption
A New South Wales anti-corruption inquiry is investigating whether three friends in powerful positions at a western Sydney council, who called themselves the “Pink Ops”, subverted recruitment and promotion processes to benefit friends.
The NSW Independent Commission against Corruption (Icac) held its first day of public hearings on Monday into allegations concerning Parramatta council’s former chief executive Gail Connolly, as well as council employees Roxanne Thornton and Angela Jones-Blayney and other staff.
In her opening address, counsel assisting Joanna Davidson SC said the three women were formerly part of a group working together at Ryde council, which called itself the “Pink Ladies” or “Pink Ops” or “Pops”. The name was “a play on words on the term Black Ops”.
“The group attended social events together, including dinners and weekends away, and maintained contact via WhatsApp, chats containing thousands of messages continuing after the period during which they worked together.”
Davidson alleged evidence would show that “this close network maintained over years formed part of the backdrop to key decisions later made at Parramatta”.
Icac is investigating whether Connolly and other staff conducted targeted electronic surveillance and investigated staff for reprisals, including termination.
Connolly was appointed chief executive in March 2023. Davidson alleged an unsuccessful attempt to have the council reconsider her appointment through a rescission motion “marked an early line between those staff perceived as supporters of the new CEO and those perceived as opponents”.
“This was a divide that it is alleged later influenced both scrutiny and reprisal,” the barrister said.
Davidson said the evidence would show the possibility of a “broader objective” to create staff vacancies aligned with Connolly, and later Thornton and Jones-Blayney, “who were loyal to Ms Connolly personally, and in some cases connected to her personally”.
Davidson said this included “substantial questions” about the recruitment processes in the hiring of Thornton and Jones-Blayney, following Connolly’s appointment, as well as other members of the “Pink Ops” group.
Davidson said while relationships in local government were “not of themselves, problematic”, during Connolly’s tenure, they “were not always managed with the transparency, proper boundaries and disclosure of conflicts of interest”.
She said that included Connolly’s alleged preferred use of personal email accounts and “avoiding things being put in writing” to prevent them being released via freedom of information requests.
The inquiry heard that the “position of trust” between Connolly and Thornton was such that during their time working at Georges River council, they had a jointly-controlled Facebook profile under a name not belonging to either of them to comment on council-related matters.
Davidson alleged that when Connolly “was in a rush to sign her employment contract at the city of Parramatta”, she wrote Thornton’s signature on the document as a witness to her own signature, at a time when Thornton was not present.
Davidson alleged Connolly assisted Thornton’s appointment to Parramatta council, first as chief governance and risk officer, then to the permanent position of group manager in the office of the lord mayor and CEO.
That included removing an essential requirement for the chief governance officer that required them to have a law degree, Icac heard on Monday.
Davidson alleged that Thornton, after starting at the council, assisted Connolly with a restructure “that involved a future position of the kind that Miss Thornton later occupied as group manager”, arranging for her temporary appointment to the role, which she took up permanently in February 2024.
Davidson said the inquiry would also examine the assistance allegedly provided by Connolly in the appointment of her niece to a senior executive assistant role at the council last year.
The inquiry will look at whether the former CEO and other staff misused public funds to facilitate the exit of council staff through “deeds of release”.
In July last year, The Sydney Morning Herald reported that the council spent $5.2m removing 81 staff between January 2022 and May 2025. Later that month, the council was raided by the corruption watchdog.
Parramatta council voted to terminate Connolly from her position in October last year. Connolly has denied any wrongdoing.
Guardian Australia directed questions to Thornton and Jones-Blayney via Parramatta Council. A spokesperson said the council would not be making any comments while the inquiry was under way.
The inquiry, overseen by Icac chief commissioner, John Hatzistergos, is expected to conduct four weeks of public hearings.
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Will tension increase again in Hormuz?: ‘Ceasefire is in a very weak state’; Donald Trump did not like Iran’s proposal – Trump Says Iran Ceasefire On Life Support Rejects Tehran Peace Proposal As Totally Unacceptable
US President Donald Trump has given a big statement regarding the ongoing ceasefire with Iran. He said that this ceasefire is now in a very weak condition and is on life support. Trump made this statement when he was asked a question about the ongoing peace process and proposal with Iran.
Trump rejected Iran’s answer
Trump rejected Iran’s recent response and called it completely unacceptable. He said that he read Iran’s proposal and it is not acceptable at all. While talking to reporters in the Oval Office, Trump said that there is no pressure of any kind on America and the country is moving towards complete victory.
Tension increased despite peace efforts
Efforts have been going on to restore peace between Iran and America for the last few months, but till now no concrete solution has been found. Tension has increased in many areas after the conflict that started on February 28. A temporary ceasefire was agreed between the two sides in April, but the situation is still not stable.
Tehran’s terms on peace proposal
According to Iranian state media, Tehran has said in its response to stop the war. Iran wants a ceasefire on all fronts, including Lebanon. Also, it has set a condition to ensure the safety of ships in Hormuz. The US had earlier proposed that the two countries end hostilities before discussing other sensitive issues such as the nuclear programme.
Controversy over nuclear program and sanctions
America is continuously demanding from Iran to completely end its uranium enrichment program. In return, there has been talk of lifting the ban and releasing the frozen funds. The talks also included the issue of opening the Strait of Hormuz, which is an important route for global oil supplies. About 20% of the world’s crude oil is supplied through this route.
Fear of impact on global markets
Due to increasing tensions between Iran and America, the fear of instability in global energy markets has increased. Experts believe that if the situation worsens, it may impact oil supply and prices.
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Greece scrambles to explain how explosive-packed drone landed in its waters | Greece
Authorities in Greece have intensified investigations into how an explosive-packed drone ended up in waters off the west of the country.
An inquiry, involving specialised military teams, broadened at the weekend after bomb disposal experts detonated the unmanned device at sea.
The Greek defence minister, Nikos Dendias, said the drone, suspected to be of Ukrainian origin, almost certainly came from “a foreign state” although he stopped short of identifying the country.
“We know what it is, and we more or less know what it contains,” he said, while also attempting to allay fears that Greece lacked the military capabilities to defend itself against such emerging technology. “We have nothing to envy, we are creating the possibilities so that our homeland can equip its combat navy with the most developed drones and anti-drone systems that currently exist.”
It is believed the drone landed close to the shores of Lefkada, a popular resort island in the Ionian, when its operators lost control and the device drifted off course. It was found by a fisher in a cave last Thursday.
Alarm over its discovery deepened on Saturday after it was reported that the long-range kamikaze drone was laden with an estimated 100kg of explosives. Greek defence ministry officials refused to confirm it was loaded with munitions.
But in a new era of warfare, where cheap and deadly drones have increasingly changed the nature of combat, the incident raised questions over maritime security in an EU member state that is more vulnerable for having Europe’s longest coastline.
The political opposition was quick to accuse Athens’ centre-right government of being ill-prepared to deal with the threat posed by such weaponry.
On Sunday, Michalis Katrinis, the main opposition Pasok party’s defence spokesperson, said: “Mr Dendias has told us he ‘knows’ [all about the drone] but the Greek people are not allowed to learn anything about its origins, the purposes it served and how it was found, moving unhindered, around Lefkada.”
Its discovery, he added, had proved that Greece was in danger of being dragged into the theatre of war.
The small nationalist, pro-Russian Greek Solution party said the chance finding was evidence of a “conscious military provocation”.
Inspection of the maritime drone was taking place at a naval base on the Greek mainland where the device had been transported. Military sources, quoted in local media, said experts were examining the robot’s serial number as well as its inbuilt GPS for clues to its origin.
With specialist teams increasingly saying the device resembled a Ukrainian-made Magura V3 naval drone, the theory that its intended target was Russian oil and gas shipping in the Mediterranean was also gaining traction.
Kyiv has admitted taking aim at tankers used to circumvent sanctions in Russia’s shadow fleet.
This month Ukrainian drones took out two ships in the Black Sea, significantly stepping up its campaign against the Russian energy sector.
Equipped with satellite communication systems, V3 drones can carry explosive loads of up to 300kg. Their lethality has been upgraded by their autonomy and speed: the unmanned vehicles can travel for up to 60 hours at a top speed of about 50mph (80kmph).
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SBI shares fall 3% after Q4 miss; Time to sell?
State Bank of India shares declined more than 3 per cent on Monday after the lender reported a weaker-than-expected March quarter performance, with pressure on net interest margins, softer treasury income and moderation in net interest income growth weighing on investor sentiment despite steady asset quality and robust loan growth.
The stock hit a low of ₹984 in early trade after opening at ₹1,007, down from the previous close of ₹1,019.30.
The lender reported a 6 per cent yoy rise in standalone net profit for Q4FY26 at ₹19,684 crore. Net interest income rose 3.8 per cent yoy but declined 2 per cent qoq to ₹44,380 crore as margins compressed sharply during the quarter. Lower provisions and stable credit costs supported profitability, although treasury mark-to-market losses and lower non-interest income impacted earnings.
SBI’s whole bank net interest margin fell 17 basis points qoq to 2.81 per cent, while domestic NIM declined 18 basis points qoq to 2.93 per cent, reflecting the impact of repo-linked loan repricing, MCLR resets following rate cuts and a higher share of floating-rate loans.
Asset quality remained stable, with gross non-performing assets improving to 1.49 per cent. Slippages rose marginally on a sequential basis due to seasonal factors, while credit costs remained benign at around 24 basis points. Loan growth came in strong at 17 per cent yoy, while deposit growth improved to 11 per cent yoy. The CASA ratio remained steady at 39 per cent.
Bernstein maintained a market perform rating with a target price of ₹1,300 and described the quarter as mixed, noting that the 18 basis points q-o-q fall in domestic NIM was the steepest among large banks even as loan growth accelerated.
CLSA retained its outperform rating and target price of ₹1,275, stating that while the top line was weak due to margin pressure, the quarter was otherwise healthy with strong loan growth, lower credit costs and stable asset quality.
Kotak Institutional Equities maintained a buy rating with a target price of ₹1,250 and said the earnings miss could lead to a near-term pause in the stock’s re-rating until investors get clearer signs of margin recovery.
JP Morgan maintained an overweight rating with a target price of ₹1,225, saying SBI reported a weaker-than-expected quarter due to moderation in NII growth and sharper-than-anticipated margin compression. The brokerage, however, noted that management remained confident of NIM recovery in FY27.
BofA Securities reiterated its buy rating and target price of ₹1,200, highlighting that profit growth was supported by strong loan growth and lower credit costs, partially offset by NIM compression and softer non-interest income. The brokerage also pointed to management guidance of 13-15 per cent loan growth and domestic NIM above 3 per cent for FY27.
Macquarie maintained an outperform rating with a target price of ₹1,150 and said the earnings miss was driven by weak margins and trading losses. The brokerage added that asset quality continued to remain a bright spot.
UBS retained its neutral rating with a target price of ₹1,080, saying margin trends remained subdued and return on assets could face pressure as treasury gains and credit costs normalize over FY27 and FY28.
Morgan Stanley maintained an equal-weight rating with a target price of ₹980 and said the key focus during the earnings call was the sharp decline in margins. The brokerage trimmed its FY27 and FY28 earnings estimates and lowered NIM forecasts by more than 20 basis points, although it expects some recovery from Q4 levels.
Published on May 11, 2026