Base metals major Hindalco's overseas subsidiary, Novelis, has submitted a draft registration with the US Securities and Exchange Commission (SEC) for the proposed public offering of promoters' shares. Novelis' sole shareholder, AV Minerals (Netherlands) NV, is a 100 per cent subsidiary of Hindalco. Novelis would not receive any proceeds from the sale. Assuming SEC clearance could go through in about 6 months.
'We are cautious only on sub-sectors that have seen massive melt-up during the past six months.'
Dwaipayan Bose highlights the similarities and contrasts between ETFs and Index Funds.
The law officer said the money trail showed that Rs 45 crore "kickback" used in the Goa assembly elections came from four hawala routes.
Shares of One97 Communications (OCL), which provides financial services under the brand 'Paytm', and has a banking arm Paytm Payments Bank (PPBL), hit the 5 per cent upper circuit at Rs 428.10 on the National Stock Exchange (NSE) in Monday's (February 26) intraday trade. The up move in the stock on Monday came after the Reserve Bank of India (RBI) asked the National Payments Corporation of India (NPCI), in post stock market hours, to look into the possibility of migrating PPBL customers, using the UPI handle '@paytm', to four-to-five other banks.
The federal agency had arrested 46-year-old Kavitha, the daughter of former Telangana chief minister K Chandrashekar Rao, from her Banjara hills residence in Hyderabad on March 15.
'It makes sense to have gold in one's portfolio keeping the political and economic risks of 2024 in mind.'
The crises of the 21st century, 9/11, the economic meltdown, COVID-19, Russia-Iran war and the Hamas-Israel war seem to be never ending. In this situation, Iran might be contemplating a nuclear deterrent to defend itself, observes Ambassador T P Sreenivasan, the distinguished long-time Rediff contributor who turns 80 on June 17..
Facing opposition fire for exit polls allegedly being used for stock market manipulation, Axis My India's chief Pradeep Gupta has said he is open to facing all kinds of investigations and it would help do business in a much better way if the government frames specific regulations for pollsters.
Prime Minister Narendra Modi reached out to the attendees of the Kashi Tamil Sangamam in Varanasi with his speech being translated for the audience in real-time using artificial intelligence.
The Israeli PM Office informed that among those rescued as part of a swap deal with Hamas were 11 foreign nationals.
Most market analysts are expecting the momentum to shift towards 'quality' and 'growth' stocks in 2024 after the outperformance of 'value' stocks over the past three years. 'Value' stocks are generally well-established companies with steady profits that are trading at a discount to what they are intrinsically worth. Companies in sectors such as commodities, industrials, commercial vehicles and public sector units (PSUs) fall in this bracket.
Among index funds, the most popular products are funds tracking the Nifty 50 and Sensex, says Dwaipayan Bose, and explains the finer points of selecting the right index mutual fund.
Security forces had launched a cordon-and-search operation in Nehama village of Kulgam following information about the presence of terrorists in the area on Thursday, the officials said.
The earnestness of the actors keep Kaala Paani from drowning, observes Deepa Gahlot.
Indian IT major Wipro on Saturday announced the resignation of its CEO Thierry Delaporte and named Srinivas Pallia as the new chief executive officer effective immediately. Wipro's Board noted the resignation of Delaporte with effect from April 6, 2024, the company said in a BSE filing, and added he will be relieved from the employment of the company with effect from the close of business hours on May 31, 2024.
'Clients deemed higher-risk are required to update their KYC more frequently.'
After Acosta asked Trump if he would pledge to reject any foreign interference in the upcoming presidential polls and also questioned his move to appoint a new acting Director of National Intelligence who apparently does not have any intelligence experience, the US President said he does not want any help from any country and hasn't been given help from any country.
He said the search operation was launched after police received information about the movement of terrorists in the area.
The country's six largest smallcap schemes would require more than 20 days to liquidate half of their holdings, despite most of them maintaining high cash levels and having considerable exposure to more liquid largecap stocks, stress tests conducted by fund houses reveal. For midcap funds, the time required to sell half of the assets of the top six schemes varies between seven and 34 days, according to disclosures made by asset management companies. The Securities and Exchange Board of India (Sebi) had called for such tests in the face of strong inflows into smallcap and midcap funds, despite concerns over high valuations, to keep investors better informed.
A 30-year-old woman has accused industrialist Sajjan Jindal of raping her after promising to marry her, a charge denied on Sunday by the billionaire. The woman, whose social media profile describes her as an actor, claimed she met Jindal (64), the chairman and managing director of the $23-billion JSW Group, at a cricket match in Dubai a few years ago which led to a friendship and subsequently to the industrialist getting attracted to her. The alleged sexual assault happened on January 24 last year inside the JSW Group headquarters, the woman, a Mumbai resident, has claimed, adding that the industrialist had promised to marry her.
More than half a dozen private-sector banks are awaiting regulatory approval for the appointment of a second whole-time director on their boards.
Dwaipayan Bose examines the seven important factors that investors about exchange traded funds must know before they start investing/trading in them.
Titan's October-December quarter (Q3) business update claims 22-23 per cent revenue growth in the standalone jewellery sales (excluding bullion sales), implying a 4-year compound annual growth rate (CAGR) of 21.3 per cent. Store additions also looked healthy, with 21 new Tanishq stores opened in Q3, taking the total count to 466 (+43 in 9 months of FY24) including two in the US and one in Singapore. Titan added 90 stores in Q3, pushing its total retail outlets to 2,949 (including CaratLane).
Rekha Jhunjhunwala's net worth has increased by more than 7 per cent, or Rs 2,865 crore, compared to less than 1 per cent rise in the BSE Sensex.
Nitish Kumar's Janata Dal-United on Sunday exuded confidence that its national president, who was sworn in as Bihar CM for a record ninth time after forming a new government with the Bharatiya Janata Party, will win Monday's trust vote.
'Valuations of midcaps and smallcaps have reached very high levels, and hence to that extent leave little margin of safety.'
The high profile visit is taking place in the backdrop of Washington's allegations about an Indian link to a foiled plot to kill a Sikh separatist Gurpatwant Singh Pannun on the American soil.
Commodity investments can help you diversify your portfolio in asset classes other than equity and debt, says Dwaipayan Bose.
In a major development in the fight against black money, multilateral grouping OECD today unveiled a 'single global standard' for automatic exchange of financial account information by various countries including India and Switzerland.
Searches conducted by the Enforcement Directorate (ED) under the anti-money laundering law rose by 86 times while arrests and attachment of assets jumped by around 25 times in the 10 years since 2014 compared to the preceding nine-year period, according to official data.
Investors should view any bounce-back in bank stocks as an opportunity to exit the pack, analysts suggested, as the worst may not be over yet. The recent quarterly results of HDFC Bank and Axis Bank disappointed the Street, triggering a marketwide selloff by foreign institutional investors, especially in banking counters. While HDFC Bank, which was the anchor for the market correction during the past week, ended 2 per cent higher amid short covering on Wednesday, Axis Bank's shares settled 3 per cent lower.
Stocks of public sector undertakings (PSUs) have been on fire in the past year as investors cheered an improvement in key operating metrics and embraced counters of these state-owned enterprises, analysts suggest. The S&P BSE PSU Index has gained over 90 per cent in the past year, rising much higher than the S&P BSE Sensex, which has rose nearly 19 per cent during this period, according to ACE Equity data. The BSE PSU Index, reports show, has delivered a compound annual growth rate (CAGR) of 28 per cent (including dividends reinvestments) over five years and risen by almost 60 per cent in the past year.
Tokyo -- the songs Japan, Love In Tokyo and Sayonara from the 1966 Hindi film automatically pop up in the mind -- is buzzing and crowded like any other metropolis, discovers Deepa Gahlot. The modern apartment blocks are built cheek by jowl, so close together that one can open the window and borrow sugar from the neighbour in the next building. One of the fears of the Indian traveller is the unavailability of vegetarian food. Every city and town in Japan has an array of Indian restaurants that serve every variety of cuisine, right from Gujarati to Punjabi to Andhra and Kerala meals.
At a time when exchange-traded funds (ETFs) were unloading Jio Financial Services from their portfolios, some active fund managers were placing large bets on the demerged financial services arm of Reliance Industries Ltd (RIL), a report by Nuvama Alternative & Quantitative Research shows. Motilal Oswal Mutual Fund and Quant Mutual Fund were the top MF buyers of the stock in August. They bought around 60 million shares each, together investing around Rs 2,800 crore.
Crypto assets should not be granted official currency or legal tender status, the much-awaited synthesis paper by the International Monetary Fund (IMF) and Financial Stability Board (FSB) has said ahead of the G20 leadership summit under India's presidency. However, the report has argued against a blanket ban on activities linked to crypto assets, explaining that such a move can be costly as well as technically demanding to enforce. Central banks should avoid holding crypto assets in their official reserve as they pose a risk to monetary and global financial stability, according to the synthesis paper.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
Early-stage cervical cancer may not exhibit noticeable symptoms, warns Dr Abha Bhalerao, consultant gynaecologist at Ruby Hall Clinic. But remember, cervical cancer is curable, preventable and treatable.
It is a good option for parents of girl children who want a debt product and do not mind its low liquidity.
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