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23.10 / 02:37
UPS Citi Fighting Food President Oscar country Cuba fights to come back from a nationwide blackout, then a storm that killed 7
A small town in far eastern Cuba is recovering from flooding that killed at least seven people after Hurricane Oscar crossed the island’s eastern coast as a tropical storm with winds and heavy rain
23.10 / 01:35
markets UPS Cooper Trade President Experts PM Modi discusses early discharge of remaining Indian nationals in Russian Army with President Putin
Indian nationals in the Russian Army during his bilateral meeting on Tuesday with Russian President Vladimir Putin on the sidelines of the 16th BRICS Summit in Kazan. Addressing a media briefing, Foreign Secretary Vikram Misri said the two leaders also shared perspectives on the ongoing conflict in Ukraine. Prime Minister reiterated that dialogue and diplomacy was the way forward to achieve resolution of the conflict. He briefed President Putin about his engagements with the Ukrainian leadership and noted that India stood ready to contribute in bringing peace to the region. «An important issue that came up was the issue of early discharge of the remaining Indian nationals in the Russian army. This figured from both sides in the discussion and with the support of the Russian side, a number of Indian nationals have, in recent months, been able to return to India. We understand that currently the embassy is pursuing around 20 cases with the Russian side and we very much hope that all of these individuals can be released at an early date and be repatriated to India very soon,» he said.
23.10 / 01:35
markets Art Analysis Trade Experts Celebrity Cycling T+0 a minus for brokers on Diwali Day
Mumbai: Spare a thought this Diwali for stockbrokers and their staff—they’re feeling a little less cheery this festive season. Blame it on T+0, also known as same-day settlement, and other reforms. Every year, the start of the Hindu calendar year is marked by the Muhurat trading session, a bit of Diwali ceremony carried over from the days of open outcry. Brokers and their employees had asked the BSE and NSE to advance the hour-long session to 10-11 in the morning from the traditional 6-7 pm, as this would allow them to complete post-trading operations by noon and give them enough time to celebrate Diwali with their families on Lakshmi Puja. That request has been rejected by the exchanges, according to people with knowledge of the matter.
23.10 / 01:35
markets security Analysis economy Election Trade Experts Asian stocks Asian stocks fluctuate with Fed’s pace in focus
interest rate cuts. Stocks moved between losses and gains in Japan and South Korea, with those in Australia modestly higher. Futures pointed to gains in Hong Kong. US contracts were flat after the S&P 500 closed little changed. Treasury 10-year yields hovered near 4.2% after topping that level for the first time since July.
23.10 / 01:35
markets Digital Cooper President Experts country PM Modi invites Russian President Putin to visit India next year for Annual Summit
Kazan [Russia], October 23 (ANI): Prime Minister Narendra Modi held a meeting with Russian President Vladimir Putin on the sidelines of 16th BRICS Summit in Kazan on Tuesday. PM Modi invited Putin to visit India next year for 23rd India-Russia Annual Summit. The two leaders reviewed bilateral cooperation in various sectors, including political, economic, defence, energy, and people-to-people ties, Prime Minister's Office said in a press release. This was their second meeting this year as the two leaders had earlier met in Moscow for the 22nd India-Russia Annual Summit in July 2024.
23.10 / 01:35
markets Art Strategy Analysis trends Trade Experts Trading in F&Os can't be national pastime: Ashwani Bhatia
Sebi's whole-time member Ashwani Bhatia said on Tuesday, while cautioning investors about the risk associated with complex financial instruments. «F&Os cannot be and should not be a national pastime which actually means that savings of retail participants move into the pockets of institutional hands,» Bhatia said while speaking at an event here.
23.10 / 01:35
markets Citi Target security Analysis Trade Experts Brokerages upbeat on City Union Bank
City Union Bank (CUB) after the better-than-expected second-quarter results. The price targets imply a 1-19% rise in the stock over its Tuesday closing price of ₹168.5. City Union Bank shares rallied 11.9% on Tuesday in a weak market in response to the September quarter earnings.
23.10 / 01:35
markets Strategy wellness Experts performer track rights ET In The Classroom: Evaluating MF returns
mutual funds over the last one year. These as well as existing investors are keen to track the performance of their mutual fund portfolio. Since the net asset value (NAV) is declared every working day, it is easy to track performance over both short and long periods of time. WHAT ARE THE FACTORS TO LOOK AT WHILE EVALUATING RETURNS OF A MUTUAL FUND? Financial planners believe investors should not just look at returns in isolation, but should look at many other factors while evaluating performance. An important thing would be to compare rolling returns with the right schemes and peers, study expense ratio, look at statistical factors like standard deviation and beta. They should also be looking at fund manager tenure. HOW SHOULD ONE COMPARE SCHEME RETURNS WITH PEERS? The right way to look at your scheme returns is to compare it with the benchmark and peers. For example, a large-cap equity scheme’s performance should be compared with the Nifty 50 or Nifty 100 and not with the Nifty Smallcap 250 or other mid- or small-cap schemes. Similarly, returns from equity mutual funds should not be compared with fixed income or gold funds. A largecap active fund must be compared with another peer in the same category. If the average return from the largecap category over three years is 20% annualised and your scheme has returned 14%, it indicates your fund is not faring well. Financial planners feel a fund has performed well when it does better than its benchmark and category. If there are 10 funds in the category and the fund is amongst the bottom three, and not able to beat category average, it indicates that there are better funds out there.
23.10 / 01:35
security Analysis Research Trade Experts Indus reports Stocks in news: Bajaj Finance, SBI Life, HUL, Adani Energy, Fedbank Financial
Bajaj Finance, SBI Life, HUL, Adani Energy, Fedbank Financial among others will be in focus due to various news developments and second quarter results. SBI Life, HUL, Bajaj Finserv Shares of SBI Life, HUL and Bajaj Finserv will be in focus as the companies will announce their quarterly results for the July-September 2024 period.
23.10 / 01:35
markets UPS security Analysis wellness Trade Experts One-Way Street: FPIs’ record-breaking run from India continues
Mumbai: India’s stock market slumped on Tuesday as continued selling by foreign investors, amid concerns over slowing earnings growth, heightened risk-off sentiment. The selloff was broad-based with mid-cap and small-cap stocks bearing the brunt of the souring mood among investors, resulting in flight of money to safe-haven assets such as gold, which extended its record-breaking streak. The NSE Nifty fell 309 points, or 1.25%, to close at 24,472.10. The BSE Sensex declined 930.55 points, or 1.15%, to end at 80,220.72. Out of the 50 shares on the Nifty, 47 ended lower, while three notched up gains.
23.10 / 01:35
markets Action security Analysis Research Trade Experts Pre-market action: Here's the trade setup for today's session
«The outlook suggests further downside, particularly in the midcap and smallcap spaces. On the index front, the next major support is around 24,000, with potential resistance between 24,700 and 25,000 in case of a rebound. We recommend adjusting trades accordingly and advise against adding to losing positions,» said Ajit Mishra – SVP, Research, Religare Broking.
23.10 / 00:43
markets UPS Research Trade Experts show Banks leaned more on short-term debt for funding needs this fiscal
certificates of deposits (CDs) jumped 69% on-year to ₹5.58 lakh crore in FY25 up to October 4, as lenders turned to short-term debt instruments for their funding needs instead of raising deposit rates and facing pressure on net interest margins. In its October bulletin, the Reserve Bank of India (RBI) said primary market issuances of CDs by banks were at ₹5.58 lakh crore from April 1 to October 4. The RBI noted that banks preferred to bridge a funding gap through short-term debt instruments «rather than raising deposit rates.» Banks have faced pressure to mobilise funds through various avenues over the past couple of years as credit growth has outpaced deposit growth, although the extent of the wedge between the two has narrowed over the last couple of months. As on October 4, bank credit growth was at 14.1% year-on-year, while deposit growth was at 12.2% over the same period, RBI data showed.
23.10 / 00:43
markets Digital Aware Strategy Experts PAM reports Udaan eyes $100 million from UK’s M&G and others at flat value
investment firm M&G Prudential is in talks to lead a new funding round of $80-100 million for Bengaluru-based business-to-business (B2B) ecommerce firm Udaan, several people aware of the development told ET. The new funding round, when closed, will boost the UK-based company's shareholding in Udaan from about 15% now, the people cited earlier said. M&G Prudential is the second largest shareholder in the company after Lightspeed Venture Partners, which holds about 40% stake. Udaan, which saw a 44% cut in valuation at around $1.8 billion last year, may see the latest round at the same flat valuation, the sources said, adding that a term-sheet has been signed and the deal contours are being finalised.
23.10 / 00:43
markets UPS Digital Experts PAM reports Acko finalising $120 million secondary share sale; Enam, Mithun Sacheti, Madhu Kela likely to come on board
Acko General Insurance is closing a $100-120-million secondary deal that will see some of its earliest backers including Infosys founder Narayana Murthy's venture capital firm Catamaran Ventures and private equity fund Chrys Capital’s founder Ashish Dhawan selling stakes in the new-age insurer. Incoming investors include Enam group’s family office led by Akash Bhanshali, CaratLane founder Mithun Sacheti, Arpwood Capital and public market veteran Madhusudan Kela of MK Ventures, people familiar with the development told ET. Existing shareholder private equity major General Atlantic will also shore up its position by acquiring additional stake, one of the persons said.
23.10 / 00:43
markets Strategy Sustainability Food Experts social reports Avaana logs final close of $135-million climate fund
Avaana Capital, an early-stage investment firm that has backed startups in the consumer, food and agri sectors, has made the final close of its dedicated climate and sustainability-focused fund at $135 million. The firm which was initially targeting to raise $100-125 million had made the first close of this fund at $70 million in June last year. Through this specialised fund, Avaana Capital plans to invest in 20-25 early-stage companies. The average first cheque size will range from Rs 10 crore to Rs 30 crore, and it plans to double down on successful investments.
23.10 / 00:43
markets security Analysis Trade Experts show consequences Adani Energy Solutions gets Sebi notice on shareholder classification
Adani Energy Solutions Tuesday said it received a show cause notice (SCN) from the Securities and Exchange Board of India (Sebi) during the September quarter for wrongful categorisation of shareholders. Without disclosing further details, the company mentioned the receipt of the SCN in its exchange filing for the September quarter results.
23.10 / 00:43
markets WhatsApp trends 2020 Broader market gets the feeling of Covid deja vu
small-cap stocks have tumbled by 25-70% from their yearly highs. The slump in nearly one-third of the stocks has been as severe as the Covid-led sell-off in March 2020. Among 1,472 stocks with a market capitalisation of over Rs 1,000 crore, 29 have plunged between 50% and 70% from their yearly highs, while 533 have fallen between 25% and 50%.
23.10 / 00:43
Platform Trade Inside reports Sebi brings MF transactions under insider trading ambit
Sebi) on Tuesday said all transactions in mutual fund units of an asset management company exceeding ₹15 lakh executed by designated persons, trustees and their immediate relatives must be reported to the compliance officers within two days from the date of such transactions. The regulator said threshold amount of ₹15 lakh could be in one transaction or a series of transactions over any calendar quarter, per PAN across all schemes excluding the exempted ones. Fund houses would have to disclose details of holding of designated persons, trustees and their immediate relatives on an aggregate basis every quarter. The new rules will come into effect from November 1. The holdings as of October 31, 2024, should be disclosed on the platform of the stock exchanges by November 15, 2024.
23.10 / 00:43
markets Digital Strategy economy Experts PAM show As North America gains traction, IT companies note softness in Europe
Europe was a bright spot for the Indian IT industry's growth when its chips were down. But as North America has started gaining traction for the IT services industry, the other side of the pond has begun to show signs of softness for many of the top IT companies. Experts also say Europe is facing a decelerating economy which is unlikely to improve in the near future and, hence, clients are pulling back hard on discretionary spends and looking to delay large projects. While IT leaders' commentaries on Europe didn't reflect on their Q2 numbers, analysts say they are largely reflective of deal pipelines and will show in coming quarters. Infosys in its Q2 earnings call said that in Europe, the automotive sector was challenged recently while discretionary spend remains under pressure.
23.10 / 00:43
markets Provident Healthcare Experts hospital testing Even Healthcare raises $30 million in funding led by Khosla Ventures
Even Healthcare, which provides facilities such as consultation and hospitalisation to its members, has raised $30 million (about Rs 252 crore) in funding led by Silicon Valley-based Khosla Ventures. The round saw participation from other US-based investors such as Founders Fund, 8VC and Lachy Groom. The funds will be used to launch hospital operations in Bengaluru and scale up patient care and recourse processes. This round brings the company’s funding till date to $50 million.
23.10 / 00:43
markets IPO Target Analysis Hyundai Trade Experts Hyundai India's weak debut one more among mega IPOs
weak debut on the bourses with the stock opening at ₹1,931 on Tuesday, over 1% below its Initial Public Offer (IPO) price of ₹1,960. The stock ended at ₹1,820.40, 7.1% below the issue price, continuing the first-day weak show trend among large IPOs. Hyundai's ₹27,870 crore IPO last week was the largest ever in India's primary market.

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