'Considering Pai is putting his own personal money in Byju's, stakeholders in the company can look forward to more governance and transparency.'
The net inflows into active equity mutual fund (MF) schemes registered more than a twofold month-on-month rise in August, crossing Rs 20,000 crore, the highest in five months. This rise in net inflows was boosted by an 18 per cent growth in gross investments, driven by a record Rs 15,800 crore inflow through the systematic investment plan (SIP) route and Rs 5,000 crore collected by seven new fund offers (NFOs) in the active equity space, reveals data released by the Association of Mutual Funds in India (Amfi). Moreover, redemptions moderated in August, declining by 19 per cent to Rs 24,580 crore, after staying elevated in the previous three months owing to profit booking.
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.
The government has amended rules under the anti-money law, making it mandatory for banks and financial institutions to record financial transactions of politically exposed persons (PEP).
Foreign portfolio investors (FPIs) are likely to seek from the finance ministry a six-month extension of the date for complying with the amendments to the Prevention of Money-Laundering Act (PMLA), citing implementation challenges. Sources said FPIs, through their custodians, were planning to approach the ministry, highlighting key concerns and seeking more clarification. The ministry, through a notification on March 7, lowered the threshold for reporting ultimate beneficial ownership (UBO) for non-profit organisations and politically exposed persons to 10 per cent from 25 per cent.
In the recent past, Adityanath and the RSS seem to have come closer. The warmth is more on the part of the RSS. And even now, not all requests from the RSS are accommodated by the UP government, points out Aditi Phadnis.
'Global coordination, convergence, market complexities and dynamics and cross-border enforcement compound the existing challenges we face.'
The lower quarterly profit was mainly due to rise in fuel costs, foreign exchange loss and lower yield
Gulabo Sitabo was made with a budget of Rs 40 crore to Rs 45 crore. Amazon Prime bought the streaming rights for Rs 60 crore to Rs 65 crore, helping the producers make over Rs 20 crore.
Rather than a blind reproduction of the government template, a more productive way of enforcing affirmative action in the private sector could be to emulate an American model, suggests Kanika Datta.
At a time when there is a growing number of edtech companies laying off employees in a bid to conserve cash and focus on profitability amid a funding winter, Ronnie Screwvala-led upGrad is expanding its facilities and hiring talent. The company plans to hire over 1400 team members between November 2022 and March 2023 in India and at offices outside the country. upGrad has also signed new leases in the past few months for 335,000 sq ft of space across four cities -- Mumbai, Bengaluru, Pune and Noida.
These ladies are laughing all the way to the bank!
'We aim at establishing India as an early talent hub on a global scale and are actively recruiting professionals in areas like cybersecurity, machine learning, data science, and other relevant fields.'
Its revenue from operations, however, grew 8.3 per cent to Rs 14,541 crore during the period under review from Rs 13,423.4 crore in the same quarter last year.
With the merger between HDFC Bank and HDFC Ltd complete, analysts said the next key monitorable for the Street would be successful resolution of merger-related hiccups, including employee-related churn and roll out of complete banking services across branches. At the bourses, they expect the stock to perform in-line with the benchmark indices in the near-term. "There's usually an initial period of consolidation after a merger as the entities work towards integration.
The marketing spiel for the Hindi version has been around Shah Rukh Khan's inclusion as Pride Rock's patriarch and his son Aryan Khan's debut as Simba's voice.
Rating agency Fitch on Tuesday downgraded the US government's top credit rating to AA+ from AAA, citing fiscal deterioration over the next three years and repeated debt ceiling negotiations. The development caused a flutter across equity markets, with most leading frontline global equity indices trading weak. Back home, the S&P BSE Sensex and the Nifty50 lost over 1 per cent each in intra-day deals to hit a low of 65,751.53 and 19,517.55 levels, respectively.
SBI sources said the other reason to clean up the balance sheet was to avoid any embarrassment at a later stage, when stressed assets would be thrown up by technology.
The transmission of dengue is closely associated with three key factors -- rainfall, humidity and temperature -- that dictate the geographies in which it spreads and the transmission rate of the viral infection caused by the dengue virus (DENV), and transmitted to humans through the bite of infected mosquitoes.
The Delhi high court on Monday dismissed a public interest litigation (PIL) challenging the RBI's decision to withdraw Rs 2,000 denomination banknotes from circulation. A bench of Chief Justice Satish Chandra Sharma and Justice Subramonium Prasad, which had reserved its order on the PIL on May 30, rejected the plea. Petitioner Rajneesh Bhaskar Gupta has contended that the Reserve Bank of India (RBI) has no power to withdraw Rs 2,000 currency notes from circulation and only the Centre could have taken a decision in this regard.
Shrinking inflows and surging outflows on account of profit-booking has curtailed mutual fund (MF) investments in equities since April. The total investments made by equity MFs during the first three months of 2023-24 stands at just Rs 2,980 crore, compared with an average monthly investment of Rs 14,500 crore in 2022-23, reveals data from the Securities and Exchange Board of India. "We are seeing signs of moderation in non-systematic investment plan (SIP) contribution, which has impacted domestic fund inflows in recent months to some extent," says Kunal Vora, head-India equity research, BNP Paribas.
'Policy-sensitive sectors will wait and watch, but policy-agnostic areas will continue based on normal consumption demand.'
The income and profits shown by various BBC group entities are "not commensurate" with the scale of their operations in India and tax has not been paid on certain remittances by its foreign entities, the income tax authorities said Friday, a day after they ended a three-day-long survey operation against the British media organisation.
Zomato shares may see limited upside in the near-term amid news-flow around government-backed ONDC expanding its footprint in the delivery market, believe analysts. Zomato shares have dropped 4 per cent in three days on the BSE. By comparison, the benchmark S&P BSE Sensex has added 0.2 per cent.
In a statement, the CBDT, which is the apex policy making body for direct tax policies, said it has never asked IRS Association or these officers to prepare such a report and no permission was sought by them before making the report public. 'It is unequivocally stated that CBDT never asked IRS Association or these officers to prepare such a report.
South Indian Bank is likely to name a new managing director (MD) and chief executive officer (CEO) by May end, said the Thrissur-based lender on Wednesday. The bank's shares dipped some 14 per cent at one point after MD and CEO Murali Ramakrishnan said he will not apply for an extension when his tenure ends on September 30, citing personal reasons. The bank's board on Tuesday considered Ramakrishnan's request for not intending to continue on his post and appointed a search committee for his replacement.
Action has been taken according to a memorandum that requires 'periodic review of performance of government servants'.
'This segment has performed very well for us and this is reflected in our bounce rate which is about three to four per cent.'
The Centre is looking to improve disclosures made by public sector undertakings (PSUs), and has asked such companies to share monthly progress made on capital expenditure targets and corporate social responsibility (CSR) initiatives undertaken by them. New details such as gender-wise reporting of contractual workers, unused land, and profit share in joint venture companies have also been added in the list of disclosures. The Department of Public Enterprises (DPE), which publishes the Public Enterprises Survey and collects information for Memorandums of Understanding (MoUs) signed with PSUs, is looking to integrate data collected from government-owned companies.
Online food delivery platform Swiggy on Friday laid off 380 employees as part of a "restructuring exercise" citing challenging macroeconomic conditions, with its CEO Sriharsha Majety saying that overhiring was a case of "poor judgement" where he should have done better. In an internal email, Majety, co-founder and CEO, also apologised to the affected employees and said the "extremely difficult decision" taken after "exploring all available options" and offered an employee assistance plan for the impacted people. He said the growth rate for food delivery has slowed down versus the company's projections.
'This move rendered the chiefs of important investigative agencies to the status of daily wage earners. It undermined the autonomy and independence of the agencies.'
Many senior citizens fail to disclose certain incomes like interest, commissions, or dividends in their ITRs.
IT e-recruitment & consulting firm IT People (India) Ltd has declared a gross revenue of Rs 485.7 lakh for the year ended March 31, 2005 and a net profit Rs 24.1 lakh for the same period.
Having successfully executed the merger with parent HDFC, HDFC Bank's managing director and chief executive Sashidhar Jagdishan on Saturday said the country's largest lender aims to double every four years. In a letter to the over 4,000 employees from HDFC who joined the bank's rolls on Saturday, Jagdishan said the future is bright, and the work on realising the potential of the merger starts now. "The runway for financial services and mortgage, which are so underserved and under penetrated, is going to be very large. HDFC Bank - the combined entity - with a large and growing distribution and customer franchise, more than adequate capital, healthy asset quality and profitability, will be best positioned to capture growth.
Millions of people in Pakistan were left without electricity when a major power outage occured on January 23.
The company's profit stood at Rs 292.79 crore (Rs 2.92 billion) in the year-ago period.
Ajay Banga will be a 'transformative leader', who will bring expertise, experience, and innovation to the position of World Bank President, United States President Joe Biden has said after the top Indian-American business executive was confirmed as the new head of the international lender.
'As Tata Steel we will obviously use group-level leverage to make progress where we want.'
