Fund managers of large-cap and equity-linked saving schemes (ELSS) have demonstrated a marked improvement in their performance over the past year, according to the latest SPIVA (S&P Indices Versus Active) report released by S&P Dow Jones Indices. In the one-year period ending June 2023, 17 per cent of active large-cap schemes outperformed the S&P BSE 100, compared to just 9 per cent at the end of June 2022. In the case of ELSS, there was a sharp improvement in performance, with 66 per cent of active schemes delivering better returns than the benchmark S&P BSE 200.
Manchester United's Alejandro Garnacho scored with a magical overhead kick in the third minute to send the visitors on their way to a 3-0 victory over an Everton team already reeling in their first Premier League game after being docked 10 points.
The earnings of India Inc hit a record high in the 2022-23 (FY23) January-March quarter (fourth quarter, or Q4), compared with their poor showing in the previous two quarters of the financial year. The rise in earnings, however, is exclusively led by banking, financial services, and insurance (BFSI) companies. A better-than-expected showing by banks and non-bank lenders in Q4FY23 more than compensated for the earnings contraction in the non-BFSI space.
Virat Kohli's admiration for Pakistan skipper Babar Azam isn't a hidden secret.
Only the top 5 per cent profit makers account for 75 per cent of profits.
Indian great Sachin Tendulkar remains the gold standard of batting in the post-Bradman era but Virat Kohli's latest masterclass in Sunday's World Twenty20 shootout against Australia has prompted comparisons with his famous compatriot.
Funding winter and corporate governance woes separated the men from the boys in the country's startup space in 2023 that saw funds into the segment tapering to just around $8 billion. All said, investors are hopeful of strong growth of the maturing startup ecosystem in the new year. Edtech and health tech segments that grew exponentially during the pandemic plunged into an abyss of financial uncertainties, with several firms shuttering their business, and valuation of prominent players like BYJU'S and PharmEasy plummeting 85-90 per cent.
Shinde also said directives will be issued to give the Kunbi caste certificates to blood relatives of a person who already possesses similar documents.
'We started affordable housing loans that has good traction and the books have grown to Rs 750 crore as of the end of last quarter.'
Corporate India continues to be generous in rewarding its shareholders with big dividend payouts. This is especially true for shareholders of companies such as Tata Consultancy Services (TCS), Hindustan Zinc (HZL), and Coal India (CIL) which are seen as cash cows of large business groups and the government. Boosted by a big payout by these three companies, the combined equity dividend payout by listed companies was up 38 per cent year-on-year (YoY) to a record high of Rs 2.27 trillion in 2022-23 (FY23), compared with Rs 1.65 trillion in 2021-22 (FY22).
Maybe, the need for secrecy may have tied the government's hand from sharing details in Parliament. Still, it should consider the need of sharing the utmost within any consultative committee, so that relative secrecy is still maintained. But such a course should involve the prime minister or home minister, as it is much more serious than is being made out to be, argues N Sathiya Moorthy.
Will BJP campaigners start using the term 'Ram Rajya' to refer to the nation under Modi's rule, asks N Sathiya Moorthy.
The 17th Lok Sabha has 12 per cent of its members below the age of 40. This is more than the 16th Lok Sabha, which had 8 per cent of MPs below the age of 40.
'Sri Ayodhyaji will emerge as the greatest centre of cultural togetherness, universal harmony, vasudeva kutumbakam, compassion, and love for every single living being on this Earth.'
Retirement fund body EPFO has recorded the highest net member addition of 18.75 lakh in July 2023, according to the payroll data released on Wednesday. The labour ministry in a statement said that the addition of 18.75 lakh during the month is the highest since the first publishing of EPFO payroll data from April 2018 covering the period of September 2017 onwards. A growing trend has continued for the last three months with an increase of around 85,932 net members over the previous month of June 2023.
Foreign Office spokesperson Mumtaz Zahra Baloch during her briefing on Friday was asked to comment on the successful soft-landing of the Chandrayaan-3 mission on the Moon.
The Reserve Bank of India's latest order prohibiting Bajaj Finance from sanctioning and disbursing loans under its 'eCOM' and 'Insta EMI Card' products may not have serious implications on the non-banking finance company's profitability, provided the ban is lifted within six to eight weeks, analysts said. "In a surprise move, the RBI has asked Bajaj Finance to stop sanction and disbursal under two of its digital lending products. "While the move is negative, the speed of correction will be key to reinstate products," global brokerage Jefferies said in a report.
'What you need is a credible Opposition, a credible platform to persuade people to believe that it can replace this government.'
Corporate earnings got a big boost from the fall in commodity and energy prices in July-September 2023 (Q2FY24) despite a slowdown in revenue growth during the quarter. The combined net profits of 3,123 firms that have declared their results so far were up 38 per cent year-on-year (Y-o-Y) to Rs 3.07 trillion in Q2FY24, up from Rs 2.24 trillion a year ago. Earnings were, however, down 3.5 per cent on a sequential basis from Rs 3.18 trillion in April-June (Q1) FY24.
The combined net profit of "early bird" companies, those that have declared their quarterly results, rose for the third consecutive quarter in July-September 2023 (Q2FY24). But the figures suggest a continued slowdown in revenue growth and stagnation in earnings over recent quarters. This slowdown is severe for companies in the manufacturing and non-financial service sectors.
Kohli also became the first batter ever to break the 700-run barrier in a single World Cup edition with one more game to go.
India's mutual fund (MF) industry had barely any retail footprint when it completed 50 years in 2013. MFs had Rs 7 trillion in assets under management (AUM) in March 2013, of which around Rs 5 trillion was in institution-focused debt funds. By comparison, bank deposits in the country stood at Rs 67.5 trillion around the same time.
About 80 per cent of Indians have a favourable view of Prime Minister Narendra Modi and around seven in 10 Indians believe their country has recently become more influential, according to a survey by the PEW Research Center.
Is it a good idea to give Rs 1 crore to someone who promises you a return of 24% per annum, wonders financial advisor P V Subramanyam.
The K-shaped economic recovery in India from the pandemic slowdown shows in corporate results as well. The automobile sector, which represents big-ticket consumption, continues to do well and has increased its share in corporate revenues and profits while fast-moving consumer goods (FMCG) companies that sell low-ticket consumer goods are struggling with poor sales and earnings growth. The share of the automobile sector, including makers of auto ancillaries, in corporate net sales rose to a 10-quarter high of 10.05 per cent during July-September 2023 (Q2FY24) from 8.94 per cent a year earlier and 9.75 per cent in Q1FY24.
Ravichandran Ashwin finds himself in contention for a World Cup spot despite lack of game time but it doesn't concern skipper Rohit Sharma one bit.
The government is set to earn an equity dividend of nearly Rs 13,800 crore from the listed public-sector banks (PSBs), all 12 of them, for FY23, up 50 per cent from Rs 9,210 crore in FY22. This will be the highest ever dividend for the government from PSBs. The 12 PSBs in our sample are paying an equity dividend of nearly Rs 21,000 crore for FY23, up 53 per cent from Rs 13,710 crore for FY22.
'Alia is very clear about what she likes and what she does not like.' 'She responds with her gut.'
Former Australia captain Ricky Ponting rates Sachin Tendulkar as technically the best batter he ever played against. The legendary Indian cricketer, he says, always found a way to combat anything the bowlers threw at him.
The government is "extremely disappointed" with the latest report of the Moody's rating agency on India's economic outlook. The report, a senior government official said, was highly contradictory and called the rating agency's credibility into question. Referring to the Moody's statement that "India's fiscal strength remains a key weakness in the sovereign credit profile...", the official remarked: "How can my strength be my weakness? Moreover, they are unwilling to have a like-to-like comparison with India."
The Great Indian Family, observes Sukanya Verma, is a cheerful fable that points out the absurdity of discrimination as a tool employed by power hungry opportunists.
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