'India is an equity market with a breadth and depth of companies to invest in.'
Mutual funds (MFs) have lined up information technology (IT) funds, indicating that technology stocks are back on fund managers' radar after a hiatus. Over the past 18 months, stock prices for companies in the software space have either corrected or remained subdued. Fund houses have launched five IT-based sectoral funds in the past three months, with three of them taking the passive route.
The Cherlapally Central Jail officials on Thursday seized an amount of Rs 15,000 from jailed Bellary city Member of Legislative Assembly Gali Somashekhar Reddy, an accused in the cash-for-bail scam involving his brother and former Karnataka minister Gali Janardhan Reddy.
The country's largest software company Tata Consultancy Services (TCS) on Wednesday said its net profit increased 8.7 per cent year-on-year to Rs 11,342 crore in the September 2023 quarter. The Tata Group flagship had reported a net profit of Rs 10,431 crore in the year-ago period.
Navneet Verma, managing director and CEO, Kayem Pharmaceuticals, has assured Reprieve, a United Kingdom-based provider of legal assistance to prisoners who cannot fend for themselves, that no Indian manufacturer will sell thiopental sodium -- an ingredient used in lethal injections by US Correctional Services -- to jails in the United States that use it for lethal purposes.
The number of buses available for service could go down below 3,000 now.
India's voting pattern in the United Nations with regard to the Israel-Palestine conflict is lately marked by a calibrated distancing from Israel, observes Ambassador M K Bhadrakumar.
Vasundhara Raje may have had her faults but she is an unconventional and brave leader who deserves better, observes Aditi Phadnis.
rediffGURU Anu Krishna, a mental health coach and NLP practitioner, offers expert advice on how you can take charge of your life.
Failure to disclose any income can lead to penalties and legal issues.
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.
Eighteen patients have died in the last 24 hours at the Chhatrapati Shivaji Maharaj Hospital in Kalwa in Thane, civic commissioner Abhijit Bangar said on Sunday.
With sales of cooling products turning out dismal this summer due to unseasonal rains, the stocks of related companies are now off their March highs. Shares of fan and air conditioner makers such as Voltas, Symphony, Orient Electric, Johnson Controls-Hitachi Air Conditioning and Crompton Greaves are down 5-23 per cent since March when the summer season saw a firm onset. In comparison, the BSE Sensex index is up 10 per cent.
Investors seem to be shying away from stocks of companies in the 'digital' space with most counters that comprise the Nifty India Digital index giving negative returns over the past year. The index tracks the performance of a portfolio of stocks that broadly represent the 'digital theme' within basic industries, such as software, e-commerce, IT-enabled services, industrial electronics, and telecom services. The fall in some of these stocks over the past year has been steep; the sharpest decline of around 60 per cent was seen in shares of PB Fintech (parent company of Policybazaar).
Navy chief Admiral R Hari Kumar on Monday flagged concerns over growing geo-political power play in the Indo-Pacific, and noted that the US-China rivalry in the region is likely to be a "marathon".
rediffGURU Nidhi Gupta, a physiotherapist with 20 years of experience helps diagnose and manage chronic pain. She also prescribes exercises to deal with pain and heal faster.
The department of correctional services said in a statement on Thursday that the Olympic and Paralympic track star would be placed under house arrest from Tuesday.
'Such big falls are quite frequent these days, so do not try to time this market.' 'Use big dips to accumulate quality stocks.'
In what can be good news for hundreds of Indian IT professionals seeking the H-1B work visa, the US' immigration agency has decided to conduct a rare second lottery for the most sought-after visas to decide on the successful applicants who could not make it in the first random selection. The US Citizenship and Immigration Services (USCIS) said on Thursday that a decision was taken after determining that the computerised draw of lots for H-1B visas conducted early this year did not give them enough numbers of the Congressional mandated H-1B visas. The H-1B visa, the most sought-after among Indian IT professionals, is a non-immigrant visa that allows US companies to employ foreign workers in speciality occupations that require theoretical or technical expertise.
'The BJP is trying to change this mantra.'
After a sharp correction over the last few months, analysts seem to be turning cautiously optimistic on the information technology (IT) sector and suggest there could be trading opportunities in select counters despite revenue and growth concerns that still plague the sector. "IT stocks valuations have corrected 17 per cent-49 per cent and stock prices have corrected 9 - 42 per cent since mid-December 2021. Nifty IT index valuation has corrected by 27 per cent and price by 21 per cent. "About two quarters ago, we made a case that valuation drivers have peaked.
'Sector funds like IT funds should be included only in the satellite portfolio.' 'Limit your exposure to IT sector funds to around 5-10 per cent of your equity portfolio.'
If you are fasting, you must steer clear of processed and packaged foods as they often contain additives, preservatives and excessive salt or sugar which can disrupt the purity and purpose of your diet, says dietician Ruchi Rai.
Domestic stock markets would be driven by inflation numbers, global trends, and the last batch of Q4 earnings this week, analysts said. Markets will also react to industrial production data and consumer inflation numbers that were released after market hours on Friday. "Participants will react to macroeconomic data viz. IIP and CPI first, which were released post-market hours on Friday.
rediffGURU Aruna Agarwal, a qualified child psychologist and behaviour therapist with over 20 years of experience, offers expert parenting advice.
As promised, Domino's 20-minute delivery started across 170 stores in Bengaluru on Tuesday. But, as the day progressed, some teething issues came to the fore. If delivery partners' accounts are anything to go by, these are unlikely to go away anytime soon.
'Revision of the base year for both CPI and GDP are long overdue.' 'The basic data that went into the 2011-2012 series were mainly from surveys done in 2011 or earlier.' 'We have since seen the emergence of new sectors like platform-based work and online marketing.' 'The employment surveys and the consumption surveys need to reflect these adequately.'
'The minimum holding period for equities should be three years.' 'Try goal-based investing.' 'Link your equity portfolios to specific goals such as retirement, purchase of a house or car...'
Back home, the Nifty IT index - a gauge of the performance of the IT stocks on the National Stock Exchange (NSE) that has closely mirrored the performance of NASDAQ over the past few years - has lost nearly 2 per cent in CY23.
No longer a discretion of the tax administrator, the audit of returns filed by taxpayers is now based on a selection by algorithms, notes Tarun Bajaj.
In the face of tax blow, brokerages remain sanguine about the prospects of asset management companies (AMCs). A sharp correction in the shares of AMCs over the past three months factors in most of the negatives and turned valuations attractive, observe analysts. In its latest report, Kotak Institutional Equities (KIE) has upgraded HDFC AMC to 'add' (from 'reduce') and reprised 'add' and 'buy' ratings on the rest of the listed AMCs - Nippon, UTI, and Aditya Birla Sun Life.
Equity benchmark BSE Sensex closed at an all-time high of 62,272.68 on Thursday, tracking a firm trend in global markets after the US Fed minutes indicated a slower pace of rate increase that bolstered investors' sentiment. Extending its rally to the third straight day, the 30-share BSE benchmark rallied 762.10 points or 1.24 per cent to settle at 62,272.68, its record closing peak. During the day, it jumped 901.75 points or 1.46 per cent to its lifetime high of 62,412.33.he broader NSE Nifty gained 216.85 points or 1.19 per cent to end at 18,484.10.
Telecom Minister Ravi Shankar Prasad on Wednesday said they must offer good services to the customers if they want any help from the government.
Former education minister of West Bengal Partha Chatterjee and his aide Arpita Mukherjee were sent to 14 days in judicial custody by a special court in Kolkata on Friday in the SSC scam case.
rediffGURU Dev Ashish answers your personal finance and mutual fund queries.
Dr Shreekant Sambrani pays tribute to M S Swaminathan, renowned agricultural scientist and a lifelong crusader against hunger who passed away in Chennai recently.
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 "asset-right" strategy, reiterated by ITC chairman Sanjiv Puri during the company's 112th annual general meeting (AGM) on August 11, received a thumbs up from the analysts. They, however, believe that sustained earnings growth and synergies with the demerged hotel's vertical will help the stock break out from the ongoing consolidation. "The stock is expected to consolidate between Rs 420 and Rs 450 in the near future.
A new law that defines how companies should process users' data came into force with the President giving assent to the Digital Personal Data Protection (DPDP) Act passed by Parliament in the just-concluded monsoon session. The law arms individuals with greater control over their data while allowing companies to transfer users' data abroad for processing, except to nations and territories restricted by the Centre through notification. It also gives the government power to seek information from firms and issue directions to block content.
'Even though Gandhiji did not know me well, Sardar knew and remembered me working with him till the Congress was banned.' Glimpses from the fascinating memoirs of Chakkedath Sankarankutty Menon, the stenographer who worked for Mahatma Gandhi and Sardar Vallabhbhai Patel during the freedom struggle.
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