Fund houses are exploring ways to differentiate themselves in the hybrid space. A relatively unknown hybrid fund variant, Balanced Hybrid, is about to see its first launch since the introduction of mutual fund (MF) scheme categorisation norms in 2017. WhiteOak Capital MF has filed papers with the regulator for this scheme, which comes amid increasing interest in the hybrid space. MFs anticipate that hybrids will become the preferred category for investors with a lower risk appetite following changes in debt fund taxation.
After Wednesday's rise, gold prices drifted by Rs 190 to close at Rs 27,610 per ten gram in New Delhi on easing demand from jewellers and retailers amidst a weak global trend.
Traders said sentiments dampened after gold fell the most in three weeks in overseas markets on speculation that the Federal Reserve would further curb monetary stimulus as the US economy recovers, reducing demand for the metal as an alternative investment.
The 55 basis point (bps) spike in the US 10-year bond yield, triggered by a combination of FOMC's hawkish commentary and BOJ's relaxation of the yield control curve (YCC) has made analysts cautious on Asian equities and expect them to trade sideways in the short-to-medium term.
With investors asking for a change in the board structure at Byju's, the edtech giant's founder and chief executive officer (CEO), Byju Raveendran, is now asking them to put $300 million into the company for more control. The company has rung up $5.8 billion from investors such as General Atlantic, Sofina, the Qatar Investment Authority, Sumeru Ventures, Vitruvian Partners, BlackRock, Chan Zuckerberg Initiative, Sequoia, Silver Lake, Bond Capital, Tencent, and Tiger Global.
A key reason for the rise in crypto currencies in 2023 is the possibility of the world's first Bitcoin ETF over the next few months.
Traders said sluggish demand due to ongoing 'Sharads', an inauspicious fortnight in Hindu mythology to make fresh purchases, mainly kept the precious metals lower.
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Traders said buying activity continued for the third straight day for the ongoing 'Navratras,' an auspicous week in Hindu mythology for making new purchases and marriage season.
With debt woes and a legal case in the US courts, educational technology (edtech) giant Byju's is expected to be laying off more employees, according to media reports. According to The Morning Context report, Byju's intends to lay off 1,000 employees. This number, however, could not be confirmed by Business Standard independently. A spokesperson for the company declined to comment on the reports.
Silver prices also jumped by Rs 500 to Rs 45,000 per kg on increased offtake by jewellery fabricators and industrial units.
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.
Gold for August delivery jumped $8.70 to settle at $1,292.90 an ounce on the Comex division of the NYMEX late on Friday.
Billionaire Mukesh Ambani-run Reliance Industries Ltd's retail arm on Thursday raised Rs 9,555 crore from Public Investment Fund (PIF) of Saudi Arabia, taking total fundraise in the last two months to Rs 47,265 crore. PIF will take a 2.04 per cent stake in Reliance Retail Ventures Ltd (RRVL), the Indian firm said in a statement. The investment values RRVL, the retail arm of Reliance Industries Ltd, at a pre-money equity value of Rs 4.587 lakh crore.
Gold zoomed by Rs 425 to Rs 31,150 per ten grams in the national capital today on frantic buying by stockists and investors on strong global cues.
Gold in New York, which normally set price trend on the domestic front, rose by 0.2 per cent to $1,186.20 an ounce and silver by 1.1 per cent to $15.76 an ounce in Thursday's trade.
Gold prices firm up on global cues.
India's largest edtech firm Byju's will fire 1,000 employees in a fresh round of layoffs across departments. With the latest round, total job cuts at the company have mounted to around 3,500. According to sources, fresh job cuts are an attempt by the company to improve its finances and work towards a path to profitability.
Manchester City's Abu Dhabi-controlled owner has agreed to sell a $500 million stake to US private equity firm Silver Lake, making it the world's most valuable soccer group with a $4.8 billion price tag.
Ratio trading in gold and silver prices is a trading tool.
Loan against gold as a product is catching on fast. Let's keep the momentum going, but aim for sustainable growth. A few bad apples should not ruin the brunch, argues Tamal Bandyopadhyay.
'We actually have a big vacuum in terms of producing coaches of quality and it's not a training program. It's an ecosystem issue. So, we need to work harder to bridge that gap'
A majority of the CEOs are expecting the economy to show growth in the next financial year on the back of rising consumer spending and a sharp turnaround in rural India.
Silver also recorded a steep fall of Rs 1,550 to Rs 34,450 per kg.
With general elections on the horizon, the government's privatisation bandwagon has almost but stalled as a government wary of being accused of selling family silver opts for minority stake sales on stock exchanges over outright privatisation. The result -- the divestment target for current fiscal year is again likely to be missed. Big ticket privatisation plans such as that of Bharat Petroleum Corporation Ltd (BPCL), Shipping Corporation of India (SCI) and CONCOR are already on the backburner and analysts feel meaningful privatisation can happen only after April/May general elections.
Weak stock markets, lingering worries over US recession and their aftermaths over other emerging markets, weak dollar and concerns over credit markets compelled stockists and even retail investors to invest in these anti-inflatary metals to play safe in the current uncertain conditions, traders said.
Edtech major Byju's founders Byju Raveendran and Divya Gokulnath are planning to increase their stake in the company to about 40 per cent and have initiated discussion with investors, sources aware of the development said on Wednesday. The founders jointly hold around 25 per cent stake in the company at present. "There is an intention of Byju's founders to double their stake in the company.
When stock brokers start quoting Oscar Wilde, it's probably a good time to bet on the markets. After the dismal Q4 GDP numbers, some experts are rushing to write the obituary of the India story. So, is this really endgame for India? It seems not.
Benchmark AMC's scheme is called silver BeES and each unit issued under the scheme will be equal to price of 100 grams of silver. The entry load for the fund will be 2.25 per cent during the new fund offering (NFO).
Education topped the table with nearly $1.755 billion as against $379 million last year, followed by real estate which received $754 million.
The sustainable impact of this process is under scrutiny, Tripathi added.
Bullion merchants said sentiments in gold remained extremely weak after it plunged to two-month low in overseas markets as the outlook for higher US interest rates reduced the appeal of the metal as an alternative investment.
While investing in gold and silver has been going on, another investment avenue that is blooming since past few years is the 'noble metal' or platinum.
Byju's, India's most-valued startup, has decided to put two of its key assets -- Epic and Great Learning -- on the block to generate $800 million-$1 billion in cash, with an aim to meet the edtech firm's various commitments, including repaying the entire $1.2 billion term loan B (TLB) within six months, according to sources. The cash-strapped company has proposed repaying $300 million of the $1.2 billion loan in the next three months, depending on whether the lenders accept Byju's amendment proposal, said the people familiar with the development. "This loan repayment proposal has been submitted to the lenders and conversations are going in the right direction," said a person in the know.
Judge HA Mohan presiding over the additional city civil & sessions court held that the kin, J Deepa and J Deepak, were not entitled to the properties that have been confiscated by the state.
RBI's projection of retail inflation at 6.8 per cent in the current fiscal is neither too high to deter private consumption, nor so low as to weaken inducement to invest, the Economic Survey said on Tuesday. However, entrenched inflation may prolong the tightening cycle and therefore, borrowing costs may stay 'higher for longer', it said. The Economic Survey 2022-23 was tabled in Parliament by Finance Minister Nirmala Sitharaman.
'India is showing a reasonable amount of resilience, but we are still living in a world that is quite fragile.' 'That's why we hope that the government will continue to invest significantly in public capex so that we are able to ride through this cycle till the private sector is able to play its part in investing and adding to the capex cycle.'
Macroeconomic (macro) concerns, along with a cautious approach towards discretionary information technology (IT) spending, will see the revenue for Indian IT firms decelerate by 5 per cent through 2024-25 (FY25), from the highs of 12-18 per cent in 2022-23, said analysts from S&P Global Ratings. "The reason behind this slow growth is a macro slowdown. "Customers are cutting their discretionary IT spending, especially on projects that take longer to deliver quantifiable outcomes. "We also acknowledge that there are still strong economic headwinds for the next few years," said Spencer Ng, associate director, corporate ratings, S&P Global Ratings, over a call in a media briefing.
The story of Sahara India Pariwar founder Subrata Roy, who died in Mumbai on November 14 aged 75, is the stuff of movies - of a spectacular rise and an equally spectacular fall. Born in Araria, Bihar, Roy was 30 when he set up Sahara in 1978. He started with a capital of about Rs 2,000, a peon, a clerk and his father's Lambretta scooter in Gorakhpur, eastern Uttar Pradesh, writes Tamal Bandyopadhyay in his 2014 book, Sahara: The Untold Story. Sahara was not his first venture.
It was a year of stocks shining bright when it comes to adding to the investors' wealth, and the glitter of gold and silver fading for the second straight year in 2013.
Be wary of co-operative banks which have historically been most vulnerable.
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