In a dramatic turn of events, Communist Party of Nepal-Maoist Centre chairman Pushpa Kamal Dahal 'Prachanda' was appointed as the new prime minister of Nepal by President Bidya Devi Bhandari on Sunday.
An improvement in political relations, anchored in a restoration of peace and tranquillity at the border, could open up opportunities for expanded economic and commercial relations between them, suggests former foreign secretary Ambassador Shyam Saran.
Noting that external risks to global growth has increased significantly now, the Crisil report quotes its parent S&P's forecast of a recession in the US and in the Eurozone, and a record low growth in China, which is seen crashing to 2.9 per cent now, almost half of what it had said on March 5 when it has pegged the same at 4.8 per cent.
Mutual funds (MFs) are likely to surpass foreign portfolio investors (FPIs) in terms of anchor investments in initial public offerings (IPOs) for the second consecutive year. In calendar year 2023 so far, MFs have invested Rs 5,577 crore as anchor investors, compared to the Rs 5,417 crore invested by FPIs this year. In 2022, MFs put in Rs 9,026 crore as anchor investment, 21 per cent higher than the FPI tally of Rs 7,105 crore. This marked the first time since 2014 that MFs had outpaced FPIs in anchor investments.
The lower interest rates charged by the State Bank of India (SBI) are contributing to a growth in its home loan portfolio at a time when the sky-rocketing real estate prices have slowed the credit demand. While fresh loans for buying houses are growing albeit at slow pace, buying out other banks' home loans is helping the public sector bank to strengthen its home loan book.
Mutual funds (MFs) are betting on a turnaround in the healthcare sector to boost returns but are divided on the prospects of the information technology (IT) sector amid uncertain growth outlook. At the end of June, all of the top 20 fund houses were overweight on the healthcare sector vis--vis the sector's presence in the BSE 200 index, shows a report by Motilal Oswal Financial Services (MOFS). In the case of the IT sector, only six of the 20 fund houses had overweight positions.
'Adani can attract vessels at a much lower cost to Vizhinjam as he has the financial muscle to do so.'
Backed by their strong physical presence across the country, UTI Mutual Fund and SBI Mutual Fund (MF) have managed to mobilise a higher proportion of their total assets under management (AUM) from towns and villages than their peers. Data compiled by Nuvama Institutional Equities shows that UTI MF and SBI MF are the only two major fund houses with over a fifth of their AUM coming from areas beyond the top 30 cities (referred to as B-30). UTI MF tops the chart with 23.8 per cent of its assets belonging to B-30 centres, followed by SBI MF with 21.2 per cent B-30 assets. The industry average stands at 17 per cent.
When its founder, Raghunandan Kamath, took a calculated risk, his Bollywood customers backed him all the way, say Rohith Potti and Pooja Bhula.
Mutual funds recorded Rs 7,600 crore net inflows into active equity schemes in July even as redemptions surged to a 30-month high of Rs 30,400 crore owing to profit booking, reveals data from the Association of Mutual Funds in India (Amfi). Equity net inflows were 13 per cent lower compared to the preceding month's tally. The inflows were supported by a strong flow from retail investors through the systematic investment plan (SIP) route.
'India has formed tremendous resilience and still a strong growth.'
14 bills were passed by the Lower House while 15 bills were passed by Rajya Sabha.
'In Western UP, last time a lot of Dalits voted for the BJP.' 'This time, there is a rethink among Dalits about the extent of their support for the BJP.'
The government on Tuesday introduced a constitutional amendment bill reserving 33 per cent seats for women in the Lok Sabha and state assemblies, reviving a proposal pending for years and blending history, politics and societal imperatives on the first day in the new Parliament building.
If one were to go by the latest manifesto, Hatoyama's world consists essentially of Japan, the US, China, South Korea, North Korea (all mentioned by name) and "other countries". India has been relegated to the position of one of the "other countries".
Rising outgo towards clearing and settlement fees has led to an altercation between the BSE and the National Stock Exchange of India (NSE), with the latter striking down the former's request to lower the charges. NSE said it has no plans to restructure the same and that it will continue with the pricing defined under the interoperability framework. The interoperability framework, introduced in 2019, allows trades executed on any of the exchanges to be settled or cleared at either of the two clearing corporations -- NSE Clearing (NCL) or Indian Clearing Corporation (ICCL), fully-owned by the NSE and the BSE, respectively.
Mother's Day reminded me of how my mom learned to cook Indian food.
Owaisi alleged the bill was worse than the discriminatory laws brought by Hitler in Germany.
Jamaat-ud-Dawah chief Hafiz Muhammad Saeed, blamed for the 2008 Mumbai terror attacks, has kept the guessing game on about his reported political ambitions.
'If his father and brother were alive today, they would be brimming with joy. This is the life's most memorable day and only few are lucky to see it. I'm the proudest mom on this earth.'
India will issue a new decree this week for land purchases that has stirred disquiet across the country
'Planning for the transfer of assets to the next generation is an important aspect of financial and estate planning.'
The country's most valuable lender HDFC Bank can perhaps no longer claim to be a favourite of foreign portfolio investors (FPIs). Two data indicators, both somewhat interconnected, point to this - the diminishing premium of HDFC Bank's American depositary receipts (ADRs) compared to local shares, and the ample investment opportunities available to FPIs in the domestic market. The ADR premium has shrunk to below 5 per cent, down from over 30 per cent in March 2021, and even lower than recent levels.
'Investors should focus on largecap funds, flexicap funds, business cycle funds, or hybrid-category funds.'
Diljit Dosanjh's switch in singing style as he smoothly assumes Chamkila's vocal persona highlights the brilliance of his artistry, observes Sukanya Verma.
Realty sector is facing a huge slowdown for last 3-4 years, leading to a significant delays in possession of flats to customers.
The headline for corporate profit growth has been very encouraging in the July-September quarter (Q2) of 2023-24 (FY24), with the combined net profit of listed companies up by 38 per cent year-on-year. However, the earnings distribution has been very lopsided, with most of the growth coming from public-sector oil-marketing companies (OMCs), banks, non-bank lenders, automobile (auto) companies, and cement producers. By comparison, companies from information technology services, fast-moving consumer goods (FMCG), retail, and consumer durables were disappointed, experiencing a sharp slowdown in net sales growth and a relatively muted increase in reported net profit.
Given that some reputed builders are also present in this segment and the cheap rates, does affordable housing make a good investment option?
After his statement, opposition leaders will speak and if required Singh may give a clarification, the sources said.
From the Sensex pack, State Bank of India, HDFC, Axis Bank, HDFC Bank, Bharti Airtel, Kotak Mahindra Bank, ICICI Bank, Tata Motors, NTPC and Bajaj Finserv were the major gainers.
The people of Amethi want to rectify their 'mistake' of 2019 and Congress workers as well as leaders are demanding that Rahul Gandhi contest from the constituency in the 2024 Lok Sabha polls, the party's Uttar Pradesh chief Ajay Rai said.
Global rating agency S&P on Tuesday said even though the US and the Euro zone are headed to recession, India is unlikely to face the impact given the "not so coupled" nature of its economy with the global economy. "Indian economy is a lot decoupled from the global economy than we normally think of, given its large domestic demand, even though you (India) are a net importer of energy. "But you have enough forex reserves on one hand and your companies have managed to maintain healthy balance sheets," Paul F Gruenwald, S&P global chief economist and managing director, told reporters in Mumbai.
After the Franklin Templeton episode, investor confidence has been shaken. Known brands have become more relevant to investors, as long as this psychological impact lasts.
From the Sensex pack, Mahindra & Mahindra climbed 3.71 per cent after the company reported an 18 per cent jump in its consolidated profit for the March quarter and the highest-ever annual profit of Rs 10,282 crore in FY23. Titan, Tata Steel, HDFC, UltraTech Cement, State Bank of India, ITC, IndusInd Bank, NTPC, HDFC Bank and Bajaj Finserv were the other major gainers. HCL Technologies, Power Grid, Maruti, Wipro, Tata Consultancy Services, ICICI Bank, Infosys, Tech Mahindra and Hindustan Unilever were the laggards.
The new Duster will go head-to-head with popular models like Hyundai Creta, Kia Seltos, Volkswagen Taigun, Skoda Kushaq, Maruti Suzuki Grand Vitara, Toyota Urban Cruiser Hyryder, MG Astor, etc in the highly competitive mid-size SUV segment.
'We are committed to achieving the targets we had outlined.'
Why did Modi single out the Congress and its leaders for the most pugnacious verbal assault while sparing other regional adversaries? If he is trying to get some parties to break the Opposition ranks, it means that the BJP's present bravado is for effect. Nilanjan Mukhopadhyay, author of Narendra Modi: The Man, The Times, begins a new column for Rediff.com.
It is 10 years since Bandhan Financial Services became the first microfinance institution (MFI) to receive the universal bank licence. A year later, in 2015, it started operations. Bandhan's entry into banking was seen as a vote of confidence by the Reserve Bank of India (RBI) for the country's microfinance sector. Subsequently, the RBI awarded small finance bank licences to nine MFIs.
The Uttar Pradesh Congress Committee is keen to field senior leader Priyanka Gandhi Vadra from Varanasi and will soon send a proposal in this regard to the top leadership, said newly appointed party's state president Ajay Rai on Sunday.
'You should ask your boyfriend that,' the stranger replied. 'We've never met in person. We've been talking for two years. Met on Words with Friends on Valentine's Day two years ago when you were travelling in Bali, shooting your Instagram videos.' A sobering excerpt about love and relationships from Shenaz Treasury's lively new book, All He Left Me Was a Recipe: Lessons From My Break-Ups.
