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.
Modi is the first Indian premier to visit the Silicon Valley and meet its top CEOs
'Mumbai turned me into a fighter, always hustling to keep up with the world.' 'Now, I hustle for the poor and the ones who don't have a voice because I feel they are poor for no fault of their own.'
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.
'The story is for the first time, Silicon Valley is mobilising locally to have a voice in American politics. The national Asian American-South Asian Diaspora with the Swadesh Chatterjees and Deepak Chopras and Vinod Khoslas, and Romesh Wadhwanis, and Arshad Zakarias and Mahinder Taks are mobilising in a way that has never happened before.' Ro Khanna, who hopes to represents Silicon Valley in the United States Congress, speaks to Rediff.com's Aziz Haniffa.
About 21 per cent Indians born between the mid-1990s and mid-2010s say a potential partner not aligning politically with them is a dating red flag.
Sriram Krishnan, an Indian-origin technology executive, is "helping out" Twitter's new owner Elon Musk as he revamps the social media giant following its acquisition by the billionaire entrepreneur.
West Bengal Chief Minister Mamata Banerjee Wednesday said that the focus of the Trinamool Congress government will be on industrial development in the state for which packages will be drawn up. Speaking at the inaugural session of ABP Infocom virtually, Banerjee said the target of the government now is to promote development of industry in West Bengal and all industries will be given equal importance. "Our state is number one in imparting social justice. "Now our target is industry. More importance will be given to it now. Packages for the industry will come", she said adding that West Bengal will be the new industrial destination in the country.
Bootstrapping has put Nithin Kamath of Zerodha in a position where he can trifle with talk about valuation, points out Suveen Sinha.
Amazon, Google, Apple and Facebook are both a boon and a bane for angel investors, VCs as well as start-ups. If the Big Tech companies get broken up and their powers to acquire get significantly curbed therefore, the whole ecosystem will need to change, says Prosenjit Datta.
The fall of the rupee has just become a symbol of all that has gone wrong with India lately.
'Such big falls are quite frequent these days, so do not try to time this market.' 'Use big dips to accumulate quality stocks.'
Brainchild of Silicon Valley VC Asha Jadeja, the programme would fly entrepreneurs to Silicon Valley on a two-week visit.
US' IT industry wants a cap on H!B visas.
Serena has backed early stage companies for nearly a decade.
After raising Rs 10 crore in seed funding last week from investors like Paytm founder Vijay Shekhar Sharma, Freshworks founder Girish Mathrabootham and Silicon Valley based venture capitalist firm Hourglass Venture, Chennai-based social media startup Pepul told Business Standard that it is looking to raise around Rs 200 crore by June this year for expansion. The social media platform, focused on online ethical practices, will be launched by 1,000 entrepreneurs across the country on January 26. Pepul, founded by G Suresh Kumar, will be using an Aadhaar-based user verification system to get rid of fake accounts on its platform. "We are planning to raise around Rs 200 crore by June this year.
India was one of the very few countries where applications for US visas saw a major upswing after coronavirus-related travel restrictions were lifted.
It's a honour to welcome Prime Minister Narendra Modi to Silicon Valley, says Sundar Pichai.
Indian immigrants were the leading company-founding group. They founded 13.4 per cent of Silicon Valley's startups and 6.5 per cent of those nationwide.
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.
Family offices are increasingly looking to invest directly in start-ups rather than through investment in venture capital (VC) firms. The shift is happening because of multiple reasons. Next-generation scions of wealthy families are conversant with how the start-up world works after they have spent time in Silicon Valley; start-up investment is rising to 10-15 per cent of family offices' portfolios from single digits; and they do not want to share gains of investment with VC firms. "While earlier they would prefer to invest in this asset class via venture capital (VC) funds as LPs (limited partners), now they are making direct investment in start-ups.
'While we may speculate about personality politics, the reality is that there are more important issues that drive the India-US relationship.'
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.
'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.'
Four Indian-American politicians from the ruling Democratic Party, including Raja Krishnamoorthi, Ro Khanna and Pramila Jayapal, were elected to the US House of Representatives on Wednesday and many others won across the country to state legislatures in the highly polarised midterm elections.
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.
Indian-American Silicon Valley venture capitalist Vinod Khosla and his wife Neeru are among the latest billionaires to have pledged half of their vast fortunes to charity either during their lifetime or after death.
Brandandme.com uses quizzing and social conversation to increase brand familiarity.
'It was a harrowing experience to witness the level people stoop to in an election campaign. The Indian election process needs a total revamp if it wants honourable people to enter politics.'
'We are calling for democratic accountability even as we talk about Digital India.' 'We are not against Digital India and it is important for India, but the government should not see what is applicable just to entrepreneurs but also to the vast majority of Indians who do not have the kind of advantages that many Silicon Valley entrepreneurs have.'
The Toyota Minor League Cricket Championship is a national Twenty20 cricket competition for 27 city-based teams from across the United States, launched this summer. More than 200 games will take place at 26 venues, featuring more than 400 players.
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.
Always acknowledge what you don't know and know that there are many paths to an end goal, says three-time founder and CEO Neha Sampat.
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.
India's Silicon Valley, Bengaluru, which has a high population of expatriates driven by the information technology sector, is getting more reasonable on cost of living
The collapse of Silvergate Bank, Silicon Valley Bank (SVB) and Signature Bank in the US might create temporary liquidity issues but will not have any significant impact on the Indian crypto market in the long run, officials from several exchanges told Business Standard. All three banks are considered crypto-friendly. SVB offered services such as cryptocurrency custody and lending.
"China creeps towards hegemony in Asia, threatens India's borders, and treats other countries as junior partners, Indian-American Congressman Ro Khanna said.
Facebook's parent company Meta announced on Tuesday it will fire another 10,000 people, implementing a second round of jobs cuts after it slashed 11,000 positions in November last year, to improve its financial performance in a "difficult environment". Meta founder Mark Zuckerberg said in a post that overall "we expect to reduce our team size by around 10,000 people and to close around 5,000 additional open roles that we haven't yet hired." The company has said that in its "Year of Efficiency", the company aims to make itself "a better technology company and to improve our financial performance in a difficult environment so we can execute our long-term vision."
Prime Minister Narendra Modi will address the India-US Startup Konnect and share his vision on 'Start up India, Stand up India' as part of his US visit later this month.
