Bootstrapping has put Nithin Kamath of Zerodha in a position where he can trifle with talk about valuation, points out Suveen Sinha.
While the historic success of Chandrayaan-3 is celebrated by Indians across the world, two untrumpeted engineering colleges in Kerala are basking in the glory of the key role played by some of their alumni in the crucial Moon mission.
Unable to bear the absence of his late wife at his housewarming ceremony on Saturday, a 57-year-old businessman from Karnataka's Koppal, Srinivas Murthy, installed a silicone statue of his wife at the newly-constructed home, which he built in her memory.
PEs and VCs are taking a closer look at their bouquet of investments. Leading voices in the sector are categorical that cash-burn rates -- that's blowing up equity to acquire market share -- as a business model can't continue to be the polestar.
HCL Tech led the Sensex gainers' chart, spurting 3.58 per cent, followed by UltraCement, Nestle India, Tata Steel, Kotak Bank, ICICI Bank, Bharti Airtel and HDFC twins. In contrast, ITC, Maruti, NTPC, Asian Paints and Sun Pharma were among the main laggards, shedding up to 1.51 per cent.
Finance Minister Nirmala Sitharaman on Monday held a meeting with representatives of the semiconductor industry of the US and invited them to make further investments in India. The finance minister spoke about opportunities for companies situated in Silicon Valley and about the government of India's commitment to be a reliable player in the entire semiconductor value chain with dedicated incentive for the sector in mission mode through the Indian Semiconductor Mission. Last year, the government approved a Rs 76,000-crore scheme to boost semiconductor and display manufacturing in the country in a bid to position India as a global hub for hi-tech production, and attract large chip makers.
Investors became poorer by Rs 1.36 lakh crore on Friday as the markets witnessed a sell-off amid weak global trends. Benchmark stock indices Sensex tanked 671.15 points or 1.12 per cent to close at 59,135.13, as 21 of its scrips declined. The sharp decline in equities eroded Rs 1,36,037.96 crore from the market capitalisation of BSE-listed firms and that now stands at Rs 2,62,94,723.65 crore.
Around $200 million worth of deposits of Indian start-ups have been withdrawn from Silicon Valley Bank (SVB), which was taken over by US banking regulators last week after it collapsed, and moved to the Gujarat International Finance Tec-City (GIFT City) IFSC, Rajeev Chandrasekhar, minister of state (MoS) for electronics and information technology said on Thursday. "It turns out that there was over a billion dollars of deposits of Indian start-ups in SVB. "The existential, solvency crisis that was there six-seven days ago has become much more manageable, even the short-term liquidity crisis is being addressed as the bank allows access to deposits," the minister said while speaking at Lenovo's Tech World India Edition event.
The cabinet also agreed to the proposal to remove the governor from the post of the 'visitor' of private universities and give it to the state's education minister instead.
'To set up a successful business, one must have a solution to an existing problem or a better way of addressing the current solution.'
In a significant move to enhance its strategic resource security, India has officially released its first-ever critical minerals list, identifying 30 key critical minerals crucial to the nation's economic growth and technological development. This pioneering step aims at reducing import dependence, enhancing supply-chain resilience, and supporting the country's net-zero objectives. Union Minister Parliamentary Affairs, Coal and Mines Pralhad Joshi, while releasing the Critical Minerals for India report in New Delhi on Wednesday, said, "India is readying for an Atmanirbhar Bharat."
It is altogether a new experience for the IT professionals in the city taking tractor rides.
With Uber dipping into its generous war chest to subsidise its service, its pampered clientele should sit back and enjoy the ride.
Within three trading sessions in May, foreign portfolio investors (FPIs) have pumped in Rs 9,461 crore into Indian equities. This follows net inflows worth Rs 7,936 crore in March, and Rs 11,631 crore in April. The trend, analysts said, could continue going ahead as the US Federal Reserve may soon halt its interest rate hike cycle, which will strengthen foreign fund inflows into emerging markets, including India.
India's banking system is expected to remain unscathed from the troubles in Credit Suisse as it has a very small presence in the country, experts said. Although Credit Suisse is more relevant to India's financial system than Silicon Valley Bank (SVB), it has very limited operations, according to a report by Jefferies India. The Switzerland-based bank, the report said, "has less than Rs 20,000 crore in assets (12th among foreign banks), presence in the derivatives market and funded 60 per cent of assets from borrowings, of which 96 per cent are up to two months.
What goes in favour of Asur 2 is its pace and novelty, even though the approach has all the hokiness of a comic book, observes Deepa Gahlot.
Fund managers are withdrawing after a two-year long run in public sector bank (PSB) stocks. Domestic mutual funds (MFs) were net sellers of PSB stocks for the first time in nine quarters, offloading shares worth Rs 1,800 crore in the March quarter, said a report by ICICI Securities. In the previous eight quarters, fund houses had invested more than Rs 10,000 in PSBs amid deep discounts in valuation vis--vis their private sector peers.
Finance Minister Nirmala Sitharaman on Saturday reviewed the performance of public sector banks (PSBs) on various financial health parameters and their resilience in the wake of the current global financial scenario emanating from the failure of some international banks in the US and Europe.
'It is nice that the banking system is in good shape.' 'It is a little early to call it too good because I think it was too bad in the past.'
The untimely passing of 47-year-old Rajeev Motwani has left the Silicon Valley community in shock. Here, many of them remember this great man.
Prime Minister Narendra Modi, who is in the United States for a three-day state visit, has gifted an eco-friendly lab-grown 7.5 carat diamond, placed in Kashmir's exquisite Papier mache box, to First Lady Jill Biden.
Osaka delighted to have father back in coaching role
'Such big falls are quite frequent these days, so do not try to time this market.' 'Use big dips to accumulate quality stocks.'
'Our plan to set up a semiconductor facility in India is back on the table'
The difference between what the banks play in the US and India is not that of soccer and football but rugby and football. SVB also has a unique character. But when risks are mispriced, the fallout could be very similar, points out Tamal Bandyopadhyay.
What's different this time is that global financial stress -- which has its genesis in four policy choices made in recent years -- is juxtaposed with a more resilient real economy, observes Sajjid Z Chinoy, chief India economist at J P Morgan.
'I'm very much against petrol and diesel....'' 'I travel in an electric car.' 'I have had a really good experience with it.'
The global turmoil in the banking sector has made analysts cautious, who advise that investors stay away from stocks of this sector till the overall sentiment improves. The recent trouble for the banking sector started with the collapse of US-based Silicon Valley Bank (SVB), Silvergate Capital and Signature Bank. On its part, Moody's Investors Service has also cut its outlook for the US banking system to 'negative' from 'stable', citing the run on deposits at these three banks that led to the collapse of these banking majors in less than a week.
The round table was organised by the Indian Institute of Science Alumni Association of North America, Pan-IIT, India Community Centre, and TiE Silicon Valley.
Make a batch of this decadent chocolate treat.
Is self-reliance the right approach in a mega-buck game, or better to be part of a network? asks T N Ninan.
Indian government bonds, particularly those of shorter maturity, strengthened sharply on Monday, as the collapse of the California-based Silicon Valley Bank (SVB) prompted investors to rush to the safety of American debt, leading to a decline in US bond yields.
India was one of the very few countries where applications for US visas saw a major upswing after coronavirus-related travel restrictions were lifted.
Gandhi said the govt "tried everything to stop" his 'Bharat Jodo Yatra', but nothing was working against the "effect" of the foot march.
"China creeps towards hegemony in Asia, threatens India's borders, and treats other countries as junior partners, Indian-American Congressman Ro Khanna said.
With the Nifty50 just about 3 per cent away from its all-time closing high of 18,812 points, analysts at BofA Securities suggest investors book profit. Their reasons for the advice include risks like the possibility of a cut in corporate earnings growth forecasts, high valuation (one-year forward P/E of 19.5x), interest rates staying elevated for longer-than-expected and credit tightening. Going ahead, they expect the Nifty50 index to drop to 16,000 levels - down nearly 12 per cent from the current level of 18,255 points, which they believe would be a good time to buy.
The demand for gold is expected to take a hit if the price of the yellow metal - which has been hovering around Rs 60,000, a level never seen before - remains elevated. Due to a sharp increase in price in a very short time and the flow of smuggled gold continuing, gold price in Mumbai is quoted at around Rs 59,000 per 10 gram. Typically, overall demand in the January-March and July-September quarters is moderate-to-dull, which is the case in the ongoing period.
... And it's not just fear of job losses, says Ajit Balakrishnan.
Mutual funds' average cash holdings in equity schemes topped 6 per cent in February as fund managers went slow on deployment of new inflows on expectations of better buying opportunities amid uncertainties in the market.
'The Indian-American community is very excited to welcome Prime Minister Modi. He is the second prime minister to come to California after Jawaharlal Nehru, who visited the state in 1961.'
