The auction will feature 56 capped and 109 uncapped players.
In the largest foreign investment in life insurance after the Reliance-Nippon deal last year, Japan's Mitsui Sumitomo (a unit of MS&AD Insurance Group Holdings) will buy 26 per cent stake in Max New York Life (MYNL) for Rs 2,731 crore (Rs 27.31 billion).
After nearly four years of underwhelming performances in equity schemes, Aditya Birla Sun Life Mutual Fund (ABSL MF) is experiencing a revival. During the first quarter of the 2023-24 financial year (Q1FY24), the fund house arrested its declining market share, bolstered by stronger equity fund results and subsequent ratings upgrades. Mahesh Patil, the chief investment officer, attributes this resurgence to changes in the fund management team and adjustments to investment strategies.
Seeking an "early exit strategy" from the India development aid programme, a committee of the British House of Lords on Thursday alleged that the assistance may provide a "perverse incentive" to the Indian government to use less of its own funds to cut poverty. The issue of sending aid to an increasingly prosperous India provoked public fury in February amidst deep funding cuts, job losses and worse in Britain.
'Will make sure that we create value. We will again look for organic and inorganic opportunities.'
Lakshya Sen fought hard before going down in three games against fifth seed Jonatan Christie of Indonesia in the semi-finals of the Japan Open.
'If you look at assets truly working for us, you should look at Aakash and Great Learning.'
Stocks of small- and mid-cap companies continued to gain ground in July, notwithstanding analysts sounding caution on these two market segments given the sharp run thus far in calendar year 2023 (CY23). Sanjeev Prasad, co-head of Kotak Institutional Equities, in a note co-authored with Anindya Bhowmik and Sunita Baldawa in June-end, had cautioned against the sharp run in small- and mid-caps. "We do not see any particular reason for the excitement in small- and mid-cap stocks.
Players such as Kidaara, True North, and Multiples Alternate Asset Management move outside the confines of just being a family-style financial office and become a true PE heavyweight.
'India is an equity market with a breadth and depth of companies to invest in.'
Begin the year-end review by assessing whether your portfolios are on track to achieve your life goals.
The Congress should take the lead in resolving differences of opinion within the Indian National Developmental Inclusive Alliance (INDIA) and show 'large-heartedness' in seat sharing to emerge as a viable alternative to the Bharatiya Janata Party in upcoming elections, according to some opposition leaders.
Nikhat Zareen secured a Paris Olympics berth and assured herself of a medal as she cantered to the 50kg semi-finals of the Asian Games.
Citi Bank on Wednesday joined the list of foreign banks that have exited the retail banking business in India as the US-based banking giant announced selling its consumer banking portfolio to Axis Bank for an estimated Rs 12,325 crore. Global banking majors such as ANZ Grindlays, RBS, Commonwealth Bank of Australia have scaled down their operations in India. In a mega-deal announcement on Wednesday, Axis Bank and Citibank said their boards have approved acquisition of Citibank's consumer businesses in India by Axis Bank.
"As our region returns to the trend, exit strategies for fiscal stimulus must be carefully timed. If left too long, deficits will be unsustainable; if withdrawan too soon, the region's recovery could be derailed."
As he left for the G-20 Summit in Toronto, Prime Minister Manmohan Singh ion Friday cautioned that the global economic recovery is 'still fragile and uneven' and asked world leaders to calibrate exit strategies in the light of growing concerns over expansionary fiscal policies.
Venture Capital giant Sequoia India & Southeast Asia has rebranded itself to Peak VX Partners. The VC firm will now manage its assets under management (AUM) in the region of over $9.2 billion across 13 funds independently. The rebranding exercise followed Sequoia Capital's break-up into three independent entities across the globe. Besides Sequoia India & Southeast Asia, Sequoia China business has adopted the name HongShan in English (it will
'We will test the waters, ferret out information through our business correspondents, and only then open a branch'
Maruti is sticking to this strategy at a time when rival Hyundai is looking to make the most of the monopoly it will have in the compact diesel segment from April 1, 2020, when the BSVI emission norms kick in. The market leader's confidence stems from the rapid shift in favour of petrol in the PV segment. For newer models such as MG Hector and Seltos, nearly 75 per cent bookings are for petrol variants, Kia has 55 per cent from petrol variants. The change in customer preference from diesel variants to petrol has happened quickly over the past few years.
Finance Minister Pranab Mukherjee on Monday said that G-20 countries, a club of developed and developing nations, have agreed to continue with the stimulus packages till the global economy fully recovers.
BlackRock has again reduced the valuation of its share in edtech firm Byju's - this time to about $1 billion, TechCrunch reported on Friday, citing disclosures made by the US-based asset manager. This is 95 per cent less than its peak valuation of $22 billion in 2022. The markdown comes at a time when the company is facing a multitude of challenges, including securing fresh capital, delays in financial reporting and legal disputes with lenders.
'Byju's financials only reflect the core business. At a group level, they are experiencing substantial losses.'
Finance Minister Pranab Mukherjee on Tuesday said the government had no exit strategy for incentives announced as part of the stimulus packages, even as there has been a 28 per cent fall in indirect tax collections till July.He further said the government was ready to take improved measures to combat drought, which has affected 272 districts in the country.
The choice should depend on the size of the retirement corpus, stage in life, and state of health.
'BJP's ultimate ambition is to control Bihar independently.'
It would be futile to believe G-20's promises to rein in monetary and fiscal policies
The exit of Ashok Vemuri, board member and head of the Americas and manufacturing at Infosys, seems to have shaken the company's much-prided succession plan.
Balanced advantage funds have the potential to earn superior risk-adjusted returns for the investor and offer a smoother investment journey.
'Chasing sectors which have reported strongest earnings is not always the right strategy for outperformance.'
If a 5% to 10% fall in the equity market gives you sleepless nights, you are not cut out for a 75% to 80% allocation to equities and must reduce it.
Besides working on better operational control, internal efficiency and leveraging of internal talent, Salil Parekh is also focusing on building a pipeline of leaders
Rediff readers debate the controversies surrounding Formula One.
The UK is likely to be for another three weeks, is inevitable.
Vishal Sikka, the new chief executive officer, is in the process of internally discussing and finalising the future course of action, chief operating officer U B Pravin Rao said on Tuesday.
'America's latest post-Cold War tryst with neo-con global political evangelism in Iraq is nearing the end of the trail.'
'Barring Tamil Nadu and Kerala, the BJP will may make inroads in Karnataka, Andhra and Telangana in 2024.'
'Investing in a factor-based fund can be beneficial provided you have chosen the right factor.'
Telecom operator Bharti Airtel on Tuesday posted a 49.2 per cent jump in its consolidated net profit to Rs 3,005.6 crore for the January-March quarter of 2022-23 on the back of new 4G customers and strong growth in average revenue per user (ARPU). The company had recorded a net profit of Rs 2,007.8 crore in the same period a year ago. Bharti Airtel's consolidated revenue from operations grew by 14.31 per cent to Rs 36,009 crore during the reported quarter from Rs 31,500.3 crore in the March 2022 quarter.
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