India Financial News

Sampath Reddy, Founder & CIO, Azurean Investment Managers, says generally speaking the domestic institutions are a lot more bottom-up in terms of investing style and they do have a lot of exposure to the mid and smallcap segment. A continuous positive inflows into the domestic institutions is helping the valuations of mid and smallcap companies. That is why the mid and smallcaps are still relatively expensive. Reddy also says he would not be very optimistic about the way things will pan out when the new US president takes over. He will probably wait and see whether the order books or the new large orders are coming through for the IT services companies. We have seen an uptick in sentiment in IT stocks since the US election. Is it likely to convert into earnings as well? Sampath Reddy: At this moment, most of the analysts are of the opinion that with the expectation of the tax cuts by the new president, there is a possibility that corporates might spend more on the IT side, I think that is what is leading to that optimism. But with the way the commentary has been, I am not sure where the earnings have come for the Q2 numbers. The momentum is mostly waning away. The growth rates are below the expectations for Q2. At this juncture, I would not be very optimistic about the way things will pan out when the new president takes over.

«Improved efficiency in collections over the next few quarters should positively impact asset quality, leading to reduced provisioning needs and boosting bottom-line growth, ROAs, and ROEs. Therefore, within the NBFC sector, microfinance is not advisable at this moment, but qualitative stocks like Chola are worth considering,» says Mayuresh Joshi, Head Equity, Marketsmith India. Suffice it to say, it's a big avoid for MFI right now? Mayuresh Joshi: Yes, and with regulatory concerns still looming, there is always a risk that potential regulatory actions could cast doubts on how these balance sheets might evolve, especially in terms of earnings if restrictions are imposed. Within this space, however, some housing finance companies have performed well. At Marketsmith, we focus on leading stocks, so within the broader NBFC universe, particularly from a rural discretionary spending perspective, Chola Investment and Finance could be a strong option. Our analysis suggests that Chola’s exposure, its strong parentage, and its capital adequacy, reflected in Tier I ratios, point to decreasing asset quality pressures as the rural economy strengthens. Improved efficiency in collections over the next few quarters should positively impact asset quality, leading to reduced provisioning needs and boosting bottom-line growth, ROAs, and ROEs. Therefore, within the NBFC sector, microfinance is not advisable at this moment, but qualitative stocks like Chola are worth considering.

International Association of Ultrarunners‘ 100 km World Championship.It’s in Bangalore, a tropical city in southern India where the average daytime temperature in December ranges from a high of 27 C to a low of 16 C, plus a relative humidity of around 55 per cent.“She’s going to be warm,” McBride laughed.She’s a member of the Association of Canadian Ultramarathon Runners and said they’ve provided her with protocols for acclimatizing to a hot climate, including three weeks of intense sauna sessions followed by running indoors in winter gear to help simulate the environment and increase blood hemoglobin.“It’ll be into the sauna, on the treadmill, into the sauna, on the treadmill. It’ll be grand.

Subscribe to enjoy similar stories. Despite the share market selloff, retail investors seem to be in no panic.

Subscribe to enjoy similar stories. Companies across industries are rolling out the red carpet for middle and junior management employees in a bid to both retain top performers as well as attract new talent. Long-term incentives, floating stock units and global postings are being liberally handed out at a time when companies cannot afford big hikes and bonuses.

Subscribe to enjoy similar stories. US-based language learning company Duolingo is looking to roll out its newly launched generative artificial intelligence-backed video calling feature 'Video Call with Lily' in India this month to boost monetization in the country, said its chief business officer Bob Meese. “The video calling feature is our big bet on AI, and we continue to update our AI features.

cryptocurrency, is expected to continue with investors betting on prices to cross $100,000 this year, riding the bullish momentum in the digital currency. It was trading above the $84,500 mark at press time.

Is buying Bitcoin and other cryptocurrencies legal in India? Yes. Investors can buy Bitcoin and other cryptocurrencies from government registered exchanges in India. However, it cannot be used as a currency and is only an investment product.

Bhartia family of the Jubilant Group led by brothers Shyam and Hari Bhartia is in advance negotiations with Goldman Sachs to partner with them to acquire a 40% stake in Hindustan Coca-Cola Beverages (HCCB), the wholly owned bottling arm of the US beverage giant in India – the 5th largest market of the Atlanta based beverages giant. Goldman Sachs is expected to finance the special purchase vehicle (SPV) created to own the HCCB stake, deploying Rs 3000-3500 crore through a convertible preferred equity instrument. A similar sized investment is being made by the Bhartia family themselves, said people aware of the development. The investment by the Wall Street bell weather will be routed through the fast growing Goldman Sachs Alternatives vertical – an overarching vertical that does growth and private equity, hedge fund, real estate and private credit investments.

Akshay Nanavati, a 40-year-old Indian American, embarked on the adventure of a lifetime -a 110-day skiing expedition across Antarctica. If he succeeds, Nanavati will become the first human to complete an unsupported, solo, 2,700-km, coast-to-coast, ski crossing of the coldest, driest, windiest and loneliest continent on the planet. He will be dragging a 200-kg sled packed with food rations and fuel through the distance, surviving temperatures as low as minus 40 degrees. It's what adventurers call 'manhauling.' Preparation itself cost Nanavati — an entrepreneur, speaker and author — the tips of two fingers, lost to frostbite. One was removed because of gangrene. This happened while climbing the Axel Heiberg Glacier in Canada, within the Arctic circle. Back from this ordeal, Nanavati opted for part of the other digit to be removed as well.

personal loan, credit card and microfinance (MFI) portfolios, Indian banks are slashing credit card limits and restricting pre-approved personal loans. Some of the lenders have also reduced loan-to-value (LTV) ratios on mortgage loans, bankers told ET. «We have identified stress segments in our unsecured portfolio based on customer segment, geographies, credit scores and sectors that are showing signs of trouble,» said the retail head of a private sector lender. «We have reduced risks in these segments by lowering credit card additions, reducing credit card limits, lowering LTV and keeping away from segments which have thrown up high risk.» Several lenders said that they now prefer offering loans to customers with credit scores of more than 750 from a cap of 720 seen prior to the onset of stress. Banks are also keeping a very close watch on days past due (DPD), where collection machinery gets triggered at day zero DPD.

climate change, pollution and biodiversity loss. According to WEF's Global Risks Report 2024, biodiversity loss and ecosystem collapse is the third-most prominent long-term risk. According to UN Environment Programme (UNEP) data, nearly 1 in every 4 species assessed is threatened, with demand for resources expected to rise 60% by 2060 from 2020 levels. Often, economic prosperity and nature conservation are perceived as a zero-sum game. But it can be a more nuanced relationship. Services provided by ecosystems are widespread, of both the tangible and intangible kind. This link between economic output and biodiversity is supported by a large set of evidence.

Hindalco Industries will spend $4 — $5 billion on capital expenditure over a period of three years to expand its upstream facilities for aluminium and copper, the company said on Monday. These include an aluminium smelter, alumina refinery, a copper smelter and a copper recycling plant, managing director Satish Pai said on a call post the earnings. The metal flagship company of the Aditya Birla group announced its earnings for the September quarter late on Monday, and its consolidated net profit jumped 78% on year to ₹3,909 crore helped by strong traction in its India business.

Nirmala Sitharaman has such a soft spot for Leftists. At an interaction with students at CMS Business School in Bengaluru, the finmin credited 'Leftists' for coming up with the 'concept of patriarchy'.

HDFC Bank has decided to divest several key commercial properties inherited during its 2023 merger with its mortgage-lender parent, HDFC, said persons with direct knowledge of the development. Monetisation of these assets, which include some residential apartments, could together fetch about ₹3,000 crore for India's most-valued bank. The assets to be sold include the HDFC House in South Mumbai's Churchgate and residential apartments that were allotted to HDFC's senior officials earlier. Commercial assets across south Mumbai, Kalina, Chandivali and other cities including Kolkata, Mysore, and Bengaluru are valued at around ₹2,400 crore. Residential apartments are likely to be valued around ₹800 crore.

Denis Manturov called on Prime Minister Narendra Modi on Monday and the two leaders exchanged views on enhancing cooperation in various areas, such as trade and economic ties, energy and connectivity. PM Modi welcomed the sustained and joint efforts being made by the teams on both sides for the implementation of decisions taken during his recent visits and meetings with Russian President Vladimir Putin to further strengthen the India-Russia Special and Privileged Strategic Partnership, a statement issued by the Prime Minister's Office (PMO) said. They exchanged views on enhancing cooperation in various areas, including trade and economic ties, energy and connectivity, it said. PM Modi extended his warm greetings to President Putin and said that he looked forward to continued exchanges with him, according to the statement.

Antariksha Abhyas — 2024', an exercise to «war-game the growing threats from and to space-based assets and services», is being conducted by the Defence Space Agency of Headquarters Integrated Defence Staff from November 11-13, the defence ministry said in a statement. Highlighting that space was becoming increasingly «congested, contested, competitive and commercial», CDS Chauhan impressed upon the military leadership to secure national interests in space by fostering innovation and developing cutting-edge technologies and state-of-the-art systems in collaboration with the Indian Space Research Organisation (ISRO) and the Defence Research & Development Organisation (DRDO) and academia. The first-of-its-kind exercise is expected to help secure national strategic objectives in space and integrate India's space capability in military operations, the statement said.

Supreme Court on Monday dismissed the Securities and Exchange Board of India's appeals against a Securities Appellate Tribunal’s (SAT) July order that set aside the market regulator's penalty of Rs 25 crore imposed on Reliance Industries (RIL), its promoters Mukesh Ambani and Anil Ambani and others in April 2021 for violating takeover norms in a case related to the acquisition of RIL shares between 1994-2000. The apex court also dismissed another Sebi appeal against SAT’s December 4 order that set aside the Rs 25-crore penalty imposed by the market regulator on RIL, Rs 15 crore on Mukesh Ambani, Rs 20 crore on Navi Mumbai SEZ and Rs 10 crore on Mumbai SEZ for their alleged role in the manipulation of prices of Reliance Petroleum Ltd (RPL)s shares in November 2007. While the appellate tribunal had quashed the penalties against Mukesh Ambani, Navi Mumbai SEZ, and Mumbai SEZ in the same case, it upheld SEBI's penalty against Reliance Industries. RPL was absorbed into RIL in 2009.

Nirmala Sitharaman on Monday said the Asian Infrastructure Investment Bank (AIIB) should strive for greater provision of innovative financial models and scale up efforts for private capital mobilisation. The minister in her meeting with the AIIB delegation, comprising 11 officials of the Board of Directors of AIIB and senior representatives and staff, said India could act as a sandbox for AIIB's piloting of innovative financing models and technologies. Sitharaman, who is also Governor on the AIIB Board, stated that the multilateral institution should broaden its investment in priority sectors of climate adaptation and resilience, infrastructure development, energy security, urban development and extend support for India's next generation reforms, an official statement said. She also stressed upon the importance of continually incorporating finance plus and budget plus elements in AIIB's project design and implementation.

Tulsi Vivah is one of India's oldest festivals. It is a ceremonial marriage of Lord Vishnu and Vrinda, in the form of Shaligram and Tulsi. It is observed on the Dwadashi tithi or twelfth lunar day, and is usually celebrated in October or November. Tulsi Vivah also begins the wedding season for Hindus which is paused during the Chaturmas, the four months when Lord Vishnu is in a deep slumber. Tulsi Vivah is considered to be the ‘Shubh Aarambh’ of the wedding season.

International Road Federation on Monday said it has written to Prime Minister Narendra Modi seeking his intervention in enhancing road safety measures to reduce the rising number of road fatalities in India through targeted interventions like placing two-wheeler ambulances at national and state highways and making smart helmets and two wheeler airbags mandatory. “The International Road Federation has written to the Prime Minister expressing concern at the growing number of road accident fatalities in the country and has suggested implementing strategies aimed at raising awareness, influencing policy, and advancing road safety measures,” it said in a statement issued on Monday. Citing the data of the ministry of road transport and highways (MoRTH), showing over 1,65,000 road traffic deaths in the year 2023 alone, the Federation said it accounts for roughly 11% of the global road traffic fatalities.