India's thriving mutual fund (MF) industry is drawing interest from several firms, with multiple applications submitted to the Securities and Exchange Board of India (Sebi) for asset management company (AMC) licences.
With Google announcing the milestone of Willow - a state-of-the-art quantum computing chip that can solve complex problems in under five minutes, a computation so complex it would have taken a supercomputer around 10 septillion (10^25) years to complete - tech experts believe this breakthrough could impact artificial intelligence (AI), particularly by making it more accessible to the masses. However, industry players caution that it may take several years for this innovation to become commercially viable.
Prime Minister Narendra Modi's goal of making India a high-income economy by 2047 is unlikely to be achieved, but the country should become an upper middle-income nation by then, Financial Times chief economics commentator Martin Wolf said on Friday. Wolf further said that India would also become a superpower by 2047. "India wishes to become a high-income country by 2047.
As he took the bow at the end of the Lakme Fashion Week x FDCI show, many in the crowd cheered for him with an inkling that the magic and the beauty they just witnessed on the ramp was perhaps for the last time. But no one in the fashion fraternity thought that Bal would pass away so soon.
Ambani won unanimously with 100 per cent of vote at the 142nd IOC session in Paris.
The narrative on China is changing post the recent stimulus measures, and it will be hard for global investors to ignore the Chinese markets.
Invest with a 5 to 7 year horizon so that you are able to ride out price volatility and benefit from the long-term trends of demand and macroeconomic shifts.
As the results season kicks in, the quarterly earnings numbers of several blue-chip firms -- such as Infosys and Reliance Industries -- along with global trends and trading activity of foreign investors, will determine equity market movement in the holiday-shortened week ahead, according to analysts. The domestic WPI inflation data for June -- scheduled to be announced on Monday -- will also influence trading sentiments, traders said. Markets will remain closed on Wednesday for Muharram.
'While investors need to be prepared for making some losses, they should not lose big money chasing euphoria amid fear of missing out.'
IndiGo has delivered impressive operating performance in the past six quarters as it navigated cost and capacity challenges. It has managed to mitigate the impact of faulty engine-related groundings. The airline has also managed costs related to grounding, expensive secondary leasing, increasing airport charges, and pilot compensation inflation and delivered stronger yields and spreads.
Condolences have poured in from across the globe, including from the United States, Canada and Sri Lanka following the demise of former Prime Minister Manmohan Singh.
'Christians, for example, make up 2 per cent of India's population but an estimated 16 per cent of those who were born in India now reside elsewhere,' said Pew.
The last batch of quarterly earnings, global trends and trading activity of foreign investors will guide the equity market movement in a holiday-shortened week ahead, analysts said. Volatility may continue amid investors' cautious approach in the election season. Markets will remain closed on Monday due to the fifth phase of the Lok Sabha elections in Mumbai.
Private equity (PE) activity in India between January and November 2024 recorded a total value of $30.89 billion across 1,022 deals, a 22.7 per cent increase in value and an 18.4 per cent rise in deal count compared to $25.17 billion across 863 deals during the same period in 2023. Notable large deals during the period include Walton Street India Investment Advisors at $1.5 billion, and KiranaKart Technologies at $1.35 billion.
'Suddenly we had a new comprehension of affairs, which reminded that the luxury of politics floated atop a foundation by economics.' 'Along with this, finance ministers became crucial in molding the perception and reputation of Union Cabinets.' 'Governments couldn't afford a wrong person in that portfolio,' asserts Shyam G Menon.
'The jury panel said that my collection should not be limited to a college fashion show; it had much more potential. They encouraged me to sign up for the annual National Designer Awards organised by the World Designing Forum.'
Trumponomics, poor growth, and high valuation certainly don't make a bullish recipe for Indian markets, warns Debashis Basu.
'If you look at where inflation (headline and core) is today in India and where the rates are, there's clearly room to cut rates.'
Logistics major Delhivery has had promising Q2FY25 results. The Q2FY25 consolidated revenue was Rs 2,190 crore (up 0.8 per cent quarter-on-quarter or Q-o-Q and 12.8 per cent year-on-year or Y-o-Y). Express parcel revenue was Rs 1,300 crore, (up 1.7 per cent Q-o-Q/7.3 per cent Y-o-Y) alongside better yield (+5 per cent Y-o-Y) in the segment.
England's Joe Root moved a step closer to one of the most celebrated records in cricket, held by the legendary Sachin Tendulkar.
Police found materials that go into making bomb from the rented house in Mysuru of Mangaluru autorickshaw blast accused Mohammed Shariq, who was 'influenced and inspired' by a global terrorist organisation, a senior police officer said on Monday.
'To be able to sail through such volatilities, it is prudent to focus on quality.'
The stock of online classified major Info Edge (India) was up over 6 per cent on Friday on expectations of demand improvement for Indian IT companies. Strong revenue growth prospects for each of its online verticals - including recruitment, matrimony, real estate, education, and upside from its holdings in companies such as Zomato - had prompted Goldman Sachs to upgrade the stock. Info Edge's standalone revenue grew 10.6 per cent year on year (Y-o-Y) in Q2FY25, beating consensus. 99acres (+16.9 per cent Y-o-Y) and Jeevansathi (+33 per cent Y-o-Y) were drivers of growth while recruitment grew 8.5 per cent Y-o-Y.
Out of 24,230 IIT and NIT grads, about 8,000 students didn't find any takers during campus placement drives this year.
The Congress also alleged that Facebook was acting as an ally of the ruling BJP and pushing its agenda.
I think they cannot be brushed under the carpet, saying you should not question them because then you are attacking freedom of speech. I think that's a cop-out. Obviously, it serves their interests, he said.
'The problem is that the bubble may not only be in valuations, but also in investors' minds.'
'As we enter 2025, it must be acknowledged that there is a convergence of capital, influential people (from business and politics) and technology deciding the destiny of others in the name of pride, patriotism, nationalism, nation building, all of it thinly veiled disguises for personal profit and glory,' asserts Shyam G Menon.
If you already hold significant amounts of equity in your portfolio, avoid MAAFs with over 60 per cent equity. But if you lack equity exposure, an aggressive MAAF may be appropriate.
Dr Reddy's Laboratories (DRL) is set to acquire Haleon's global portfolio of consumer healthcare brands in the nicotine replacement therapy (NRT) category outside of the US. DRL will pay a total consideration of 500 million, including an upfront cash consideration of 458 million and contingent cash payments up to 42 million based on performances in CY25 and CY26. DRL will acquire the portfolio through the purchase of shares of Northstar Switzerland SARL, a Haleon group firm.
'The structural story of India is a multi-decadal story.' 'One should stay invested in that story and avoid reacting to what is happening globally.'
Tata Power's Q2FY25 reported results were above consensus despite challenges like low plant availability at Mundra and Odisha discom operations affected by rain. A positive development for the power major included module manufacturing hitting nearly 100 per cent capacity utilisation. The Board has approved an investment proposal for a 1GW pumped storage project (PSP).
'Investors with foreign currency-denominated goals, such as foreign education or foreign travel, should go for US equity funds.'
'A dynamic bond fund acts like a gilt fund in a rate cut scenario and like a conservative short-term bond fund when rates rise.'
The rupee has remained largely stable against the US greenback in the current calendar year (CY 2024), depreciating by just 0.59 per cent so far. However, it has considerably weakened against the euro and pound. The local currency has depreciated by 1.6 per cent against the euro and 5.6 per cent against the pound, as both currencies strengthened against the dollar during this period.
Tiger Global-backed Koo, an Indian alternative to Twitter, has laid off 30 per cent of its workforce of 260 employees in the last year as the budding firm, like many other start-ups in the country, battles global headwinds. "It's important for businesses of all sizes to adopt efficient and conservative approaches to see this period through. "In line with this, we have acted on some role redundancies by letting go of 30 per cent of our workforce over the course of the year," said a Koo spokesperson.
'The biggest near-term risk to Indian equities is the outflow of investments to China as tactical trades by foreign investors.'
There is no shortage of books on the Microsoft founder, but this latest one is different in that it paints Mr Gates in shades of grey, leaving it to readers to make their own judgement about the man
Equity markets will take cues from global trends and trading activity of foreign investors, while in the latter part of the week the first quarter earnings from IT majors TCS and HCL Technologies would guide investor sentiments, analysts said. Markets may consolidate after the record rally last week, experts added. "On the domestic front, the Q1 earnings season begins this week. Key companies such as TCS and HCL Technologies will release their earnings on July 11 and 12, 2024, respectively.
'All the big things happening today in economic development have their beginning in Dr Manmohan Singh's ideas.'
