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Here are the top stories to start your day.
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⭐ SBI Life announces dividend
Life insurer has declared an interim dividend of ₹2.5 per share for its shareholders. The company has fixed 16 March as a record date to determine eligible shareholders. Meanwhile, the dividend will be paid on or before 6 April 2023.
⭐ Bharat Forge setup e-bike manufacturing facility
Through its e-mobility subsidiary Kalyani Powertrain, Bharat Forge has inaugurated the first e-bike manufacturing facility in Pune. The facility will have a production capacity of 60,000 units per annum.
⭐ Insurance industry premium falls in February
Life insurance companies reported a 17% YoY drop in new business premiums in February. Amongst individual companies, LIC India’s premium contracted by 32% YoY. Meanwhile, private insurer HDFC Life and its subsidiary Exide Life reported a 9% YoY rise in premiums. SBI Life Insurance premium rose 7% during the month.
Global markets (at 9:15 AM today)
| Indices | Today's movement |
| SGX Nifty | ▼ 0.13% |
| Nikkei 225 (Japan) | ▲ 0.60% |
| Hang Seng (Hong Kong) | ▲ 0.10% |
| SSE Composite (China) | ▼ 0.31% |
| Dow Jones (US) (March 08) | ▼ 0.18% |
| NYSE (US) (March 08) | ▼ 0.22% |
| Nasdaq (US) (March 08) | ▲ 0.40% |
| S&P 500 (US) (March 08) | ▲ 0.14% |
Fact of the day
Kirloskar Oil Engines witnessed a mega block deal wherein the promoter sold an 18% stake in the company.
Source: Money Control