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CSB Bank shares jumped as much as 7.7% on Tuesday to Rs 331 on BSE after the private lender held a one-on-one meeting with asset management firm WhiteOak Capital on December 16. The company disclosed this development in an exchange filing.The company’s institutional investor meeting with WhiteOak Capital was held in Mumbai, the exchange filing said.The private lender has witnessed its shares grow 9.91% over the past month, compared to a 5.06% rise in the Sensex.The company’s net profit during the quarter ended September grew 3.9% year-over-year (YoY) to Rs 1,384 million, compared to a profit of Rs 1,332 million a year ago. Meanwhile, net sales during the quarter increased 25.8% to Rs 8,649 million, compared to Rs 6,873 million in the previous corresponding period.For the year ended March, the private lender posted a 3.6% rise in net profit to Rs 5,668 million compared to net profit of Rs 5,474 million in the previous corresponding period. The bank’s revenue jumped 26.2% to Rs 29,275 million during fiscal year 2024.CSB Bank shares have fallen 17.8% over the past year and the stock has witnessed declines of 3.89% over the past six months.Also read | 4 reasons why Axis Capital backs Swiggy for Rs 640 stock price(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Quess Corp shares surged 9.4% on Tuesday to Rs 733.15 on BSE after brokerage firm Antique Stock Broking initiated coverage on the staffing solutions provider with a “buy” rating, at a target price of Rs 1,000, indicating potential upside of over 36% from current levels.The brokerage said that Quess is a clear beneficiary of strong hiring trends across various segments and it expects “this strong hiring trend to continue in the medium term, with double digit growth anticipated in general staffing, particularly in banking, manufacturing, and consumer sectors.”Antique Stock Broking said the outlook for the staffing industry appears positive, driven by strong hiring trends across sectors.Quess has witnessed robust headcount growth in Workforce Management (WFM) during FY24, with a 17% rise and a five-year compounded annual growth rate (CAGR) of 20%, the brokerage noted.The increased formalisation of India's economy driven by labour reforms, a rise in the gig economy, capex push through PLI schemes, a higher thrust on manufacturing driven by China+1 strategy, low staffing penetration and opportunities in tier-II cities are some of the key growth drivers for the company, the brokerage noted.The brokerage expects Quess Corp revenue to grow at a compounded annual growth rate (CAGR) between 12% to 14% over the financial year 2024 - 2027.The company’s net profit for the quarter ended September, grew 31.9% year-over-year (YoY) to Rs 936 million, compared to a profit of Rs 710 million a year ago. Meanwhile, net sales during the quarter increased 9.1% to Rs 51,794 million compared to Rs 47,483 million in July-September 2023.Also read | 4 reasons why Axis Capital backs Swiggy for Rs 640 stock price(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

A teenage shooter opened fire at a Wisconsin school on Monday, killing a fellow student and a teacher and wounding six other people before police found the suspect dead at the scene. The latest school shooting to devastate a U.S. community took place at the Abundant Life Christian School, a private institution that teaches some 400 students from kindergarten through 12th grade in Madison, the state capital of about 270,000 people. Two students who were wounded in the shooting had life-threatening injuries, Madison Police Chief Shon Barnes told a press conference. A teacher and three other students were shot and expected to survive. Two of those victims were released from the hospital, Barnes said. The shooter, a student at the school who used a handgun, was found dead inside the school by officers who immediately entered campus upon arrival, police said. Officials declined to identify the shooter by name, age or gender, nor did they identify the victims. CNN and the Associated Press, citing unnamed police sources, reported the shooter was a 17-year-old girl who turned the gun on herself after the rampage. Reuters could not verify the reports. If confirmed, it would be a rarity, as only about 3% of mass shootings are carried out by females, studies show. There was as yet no known motive for the violence, which authorities said took place in one space inside the school. The shooter's family was cooperating with the investigation, police said. "Today is a sad, sad day, not only for Madison, but for our entire country, where yet another police chief is doing a press conference to speak about violence in our community," Barnes, a former school teacher, told reporters at an earlier press conference. "Every child, every person in that building, is a victim, and will be a victim forever. These types of trauma don't just go away," Barnes said. There have been 322 school shootings this year in the U.S., according to the K-12 School Shooting Database website. That is the second highest total of any year since 1966, according to that database - topped only by last year's total of 349 such shootings. "We need to do better in our country and our community to prevent gun violence," Madison Mayor Satya Rhodes-Conway said. 'LOCKDOWN, LOCKDOWN'The shooter arrived at school on time and pulled out the handgun about three hours into the school day, officials said. Once the shooting began, students were locked in their classrooms and "handled themselves magnificently," said Barbara Wiers, Abundant Life's director of elementary and school relations. Students practice what to do in the event of a shooting, and are normally told, "this is just a drill," Wiers told the press conference. "They were clearly scared ... when they heard 'lockdown, lockdown' and nothing else they knew it was real," Wiers said. Later students were taken off campus to a site where all the survivors were reunited with their parents, officials said. Gun control and school safety have become major political and social issues in the U.S. where the number of school shootings has jumped in recent years. The gun violence epidemic has afflicted public and private schools alike in urban, suburban and rural communities. President Joe Biden called on Congress to enact gun-control legislation to prevent further massacres. Similar calls have gone unheeded after almost every school shooting in recent memory. "It is unacceptable that we are unable to protect our children from this scourge of gun violence. We cannot continue to accept it as normal," Biden said in a statement. In 2022 Biden signed into law the first major federal gun reform in three decades, about a month after an 18-year-old man opened fire at Robb Elementary School in Uvalde, Texas, killing 19 students and two teachers. The Wisconsin shooting took place 12 years and two days after one of the most notorious school shootings in U.S. history: the massacre at Sandy Hook Elementary School in Newtown, Connecticut. A 20-year-old man armed with a semiautomatic rifle killed 20 school children plus six adults who worked at the school. Polling shows American voters favor stronger background checks on gun buyers, temporary limits on people in crisis and more safety requirements for gun storage at homes with children. Yet political leaders have largely declined to act, citing the U.S. constitutional protection for gun owners.

Mumbai: Investors are increasingly snubbing life insurance companies these days due to uncertainty over a likely regulatory crackdown on their selling practices which has raised concerns over the near-term business prospects of the sector.Shares of Life Insurance Corp slumped 11%, SBI Life sank 23%, HDFC Life fell 10.4% and ICICI Prudential Life shed 9.5% in the past three months as against the 3% decline in the Nifty and the 2.6% drop in the Nifty500 index."Life insurance stocks have underperformed recently due to multiple regulatory challenges such as revised surrender value charges, and potential limitations on bancassurance as a key distribution channel," said Shrikant Chouhan, head of equity research at Kotak Securities. "While key players have denied any directive or communication from IRDAI (Insurance Regulatory and Development Authority of India) on this, the big sell-off in insurance stocks likely reflects concerns on further tightening of the regulatory framework."116383178Bancassurance is an arrangement between banks and insurance companies to sell insurance products through the banks' branch network. Most insurance companies rely heavily on this channel for selling their products. According to reports, the insurance sector regulator wants companies to rely less on this sales channel. While the revised surrender value rules are expected to hurt companies' margins, analysts said uncertainty over the impending Insurance Amendment Bill is also weighing down their shares."The insurance sector may continue to underperform in the near term until there is meaningful growth in premiums and margins stabilise," said Nilesh Shetty, portfolio manager- Quantum Advisors.Most insurance stocks have underperformed the broader market in the past year with SBI Life Insurance and HDFC Life Insurance declining 3% and 9%, respectively, in the period. ICICI Prudential Life Insurance shares rose 25.3% in the past year and LIC advanced 14.8%. The Nifty 50 gained 17.9% and Nifty 500 jumped 24.5% in the past year."The higher growth in ULIPs for life insurers is putting pressure on the value of new business margin and along with all the other concerns is weighing heavily on investor confidence," said ChouhanA reduction in GST rates for insurance products may result in a temporary rebound in these shares but that may not be enough to revive the sector's prospects, said analysts.Time to buy?Brokerage Emkay Global said the recent sharp correction in share prices seems to be already pricing in these uncertainties."After the correction, valuations have turned attractive, as once the uncertainties lose steam, listed private life insurers will retain their edge with a stronger brand, bigger scale, and better operational efficiencies," said Avinash Singh and Mahek Shah of Emkay Global, in a note to their clients.The firm has a 'Buy' recommendation for HDFC Life Insurance and 'Add' rating for IPRU Life, MAX Financial, SBI Life and LIC.Shetty said patient investors could selectively add these stocks to their portfolio as valuations have come off and risk-reward is favourable."The long-term growth potential of the life insurance sector remains intact. Steep declines present opportunities to invest in quality names within the sector. Private life insurers, particularly ICICI Prudential Life and HDFC Life, appear appealing after the correction and are 'buys' for long-term investors," said Chouhan.

Mumbai: Five companies-DAM Capital, Transrail Lighting, Sanathan Textiles, Concord Enviro Systems and Mamata Machinery-will launch their maiden initial public offerings (IPOs) on Thursday, December 19, for public subscription. All five IPOs will close on December 23.Investment bank DAM Capital Advisors aims to raise Rs 840 crore through its IPO, which is entirely an offer-for-sale (OFS) by the promoter and existing investors. The price band for the issue has been set between Rs 269 and Rs 283 per share. 116383151Transrail Lighting has fixed its price band at Rs 410 to Rs 432 per share for its Rs 839-crore IPO. The IPO consists of a fresh equity issue worth Rs 400 crore and OFS of 1.01 crore shares by promoter Ajanma Holdings.Sanathan Textiles' IPO will comprise a fresh issue of up to Rs 400 crore and an OFS of up to Rs 150 crore. The price band has been set at 'Rs 305 to Rs 321 per share.Concord Enviro Systems plans to raise Rs 500 crore, with the price band fixed between '665 and ' 701 per share. The IPO comprised a new issue of Rs 175 crore along with an offer for sale of 0.46 crore shares.