Booking Financial News

Scholastic Inc. will end a widely criticized policy that made it easier for school book fairs not to sell works with racial, disability and LGBTQ+ themes

Sunil Subramaniam, MD & CEO, Sundaram Mutual, says “we are in for a correction and volatility in the broader market, but it is not because investors are turning risk averse. It is because FIIs are selling largecaps. Mutual funds, in order to buy those largecaps, need to sell mid and smallcaps. It is not necessarily a reversal of risk attitude as much as the opportunity to get good quality, large companies at much reasonable prices. So it is just a reallocation. For a long-term investor, in fact the on-going correction could be a good time to accumulate.” Crude prices have eased off a bit at the start of the week. How do you see this correlation between crude prices and the kind of consolidation that we are seeing on the Nifty play out from here? The spot crude prices may ease up based on local announcements but if you look at the forward crude expectations, they remain in a firm stage both because it is winter setting into the US and in Europe, when the energy heating demand for homes goes up. The Israel-Hamas conflict is adding to the statement by OPEC that there will be at least a three and a half million barrel shortfall for Q4. So in the short term, because of China's slowdown, there may be movement in the spot crude, but otherwise I expect a firm crude trend.

On October 11, 2023, DWF Ventures disclosed its primary investment focus on derivative protocols, particularly perpetuals, through a comprehensive Hindsight article. The piece aims to dissect the landscape of decentralized exchanges (DEXs) concerning perpetuals, shedding light on prevalent innovations in this domain.

By Chavi Mehta

Muthoot Finance sold a gold loan portfolio of Rs 725 crore to Asset Reconstruction Company of India (Arcil) on a par, said two people with knowledge of the matter. This is the first time a gold loan portfolio is being sold by a lender to an asset reconstruction company (ARC). Most lenders prefer in-house recovery since the value of gold is adequate to cover the value of the loan disbursed. Muthoot did not take a significant haircut as gold value has appreciated and the transaction is structured in a way that upside would be shared by the Avenue Capital backed ARC with the finance company. Kerala-based Muthoot Finance sold the gold loan portfolio under the 15:85 structure wherein 15% of the consideration is paid in cash and the balance is in the form of security receipts. Muthoot Finance and Arcil did not respond to ET’s request for comments. Muthoot Finance has a leadership position in the gold loan business and gold loan portfolio is about 86% of its consolidated book, as on June 30, according to a report by Icra Ratings dated August 28. Muthoot’s gold loan book has more than doubled over the last five years to Rs 66,039 crore as of June 2023, Icra has stated. Most banks and finance companies have resorted to auctions of gold to recover their dues. In the fiscal years 2023 and 2022, gold loan auctions undertaken by Muthoot Finance stood at Rs 2,203 crore and Rs 5,211 crore, respectively.

Maratha leader Manoj Jarange Patil began his indefinite hunger strike on Wednesday demanding reservations for the Maratha community despite the last-ditch efforts by the state government to dissuade him from doing so. The Maharashtra government had deputed BJP minister Girish Mahajan to negotiate with Patil as he had dealt with the Maratha leader during his previous fast in August-September this year. Mahajan had tried to urge Patil to call off his fast while seeking more time for the state government to give the Maratha quota to the community.

Dick and Angel Strawbridge, well-known for their adventures in "Escape to the Chateau," couple is set to launch a new podcast, offering listeners an intimate and heartwarming glimpse into their lives. In a teaser for the podcast, Dick and Angel describe the experience as if they're sneaking away to their house, enjoying a cup of tea or a gin, and engaging in a cozy conversation. They discuss their week, family life, and the moments that brought smiles to their faces.

₹1 crore was booked and allotted in 2008-09, and payment for the property was made in instalments of ₹20 lakh each year, over the period of five years from 2008-09 to 2012-13, in which year the property was built and transferred. If the property is being sold in the current year, the entire cost of acquisition of ₹1 crore should be indexed from 2008-09 till 2023-24.

₹3,200 per share in the unlisted market, up from ₹2,750 a share a year back, according to analysts and investment bankers, owing to low supply and high demand. PE funds that invested in the stock even four years back at a price of ₹1,100 a share have already made 3x returns on their investments, investment bankers said. Even investors, mostly HNIs and neo rich who bought at ₹2,200 a share two years back have managed to get their capital back with the high dividend the company paid.

Kindles provide a sanctuary for book lovers. The Amazon Great Indian Festival Sale is the perfect opportunity to embark on a literary journey like never before, and at an unbeatable price. Whether you're a seasoned e-reader or a novice, the Kindle's charm is hard to resist.

In a recent interview with BBC, Schwarzenegger, the iconic action hero, shared insights into his successful career, the impact he has made on the entertainment industry and why he would be a great President while acknowledging the constitutional limitations that prevent him from pursuing the presidency. «I feel like I would make a great president,» he said, while adding: «But I feel that, at the same time, everything I've accomplished was because of America. »America gave me so many opportunities and the American people were so embracive, and they just received me with open arms. There was no-one there that stopped me from my success.

'Stranger Things: The First Shadow' have released the photographs from rehearsals of the West End stage play. The images of Henry Creel and Dr. Brenner (played by Louis McCartney and Patrick Vaill) in an intense face-to-face standoff and Lonnie Byers sitting with and holding Joyce Maldonado (played by Chase Brown and Isabella Pappas) have been made public.

₹50,000. The bank’s personal loan book grew 25% year-on-year (yoy) to ₹61,168 crore as of 30 September, but Chaudhry said growth will not come at the risk of higher credit cost. About 24% of the bank’s retail book was unsecured.

Boeing booked a third-quarter loss and lowered delivery goals this year for its 737 MAX jet, which accounts for the bulk of the plane maker’s output. Boeing lost $1.64 billion in the quarter ended Sept. 30, more than analysts expected, and it reported negative cash flow from its operations.

₹329 to ₹346 per equity share of face value of ₹2. Blue Jet Healthcare IPO has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors. On day 1, Blue Jet IPO retail investors portion was subscribed 78%, NII portion was subscribed 1.37 times, and Qualified Institutional Buyers (QIB) portion were booked just by 1%.

literary world ignores her. Publishing is an odd business. It is worth around $37bn in Britain and America alone, but you would never know this from the literature that it produces, which focuses on books in the brainy vein rather than anything so vulgar as volumes that actually sell.

Tech Mahindra has approved the merger by Absorption of 3 subsidiaries of the firm and their respective shareholders. This announcement came alongside the company's September quarter results.

Electric bus maker PMI Electro Mobility Solutions on Wednesday announced raising funds in the form of strategic investment to the tune of Rs 250 crore from Piramal Alternatives, the fund management business of the Piramal Group. The freshly raised capital will bolster company's business expansion and sustainability issues, PMI Electro Mobility said in a statement.

₹250 crore from Piramal Alternatives, the fund-management arm of the Piramal Group, to bolster its green mobility initiatives. Piramal Alternatives made the investment from its Performing Credit Fund (PCF), a sector-agnostic vehicle that caters to the capital needs of companies operating in the mid-market segment. The investment was made in the form of convertible securities.

India registers 108% surge in transactions for travel, online home services; BookMyShow, MyJio most preferred merchants According to the survey's findings, 84 percent of respondents expressed their desire for the government and its public sector units (PSUs), including IRCTC, to cease the practice of charging convenience fees or service charges and instead promote the Digital India initiative. This demand reflects the sentiments of consumers who seek a more cost-effective and convenient online experience.

Dussehra (also known as Vijayadashami in West Bengal), was observed on October 24. Many celebs and public figures took to X (formerly Twitter) to wish their fans and well-wishers a joyous Dussehra. Sachin Tendulkar, the GOAT (Greatest Of All Time) of cricket wished his fans a safe and happy Dussehra to his followers and encouraged them to “keep batting for the right cause,” as the day signifies the victory of good over evil.