CEO Financial News

US International Development Finance Corporation has approved a financial aid of up to USD 425 million (Rs 3,521 crore) to Tata Power Renewable Energy Ltd for setting up a 4.3 GW solar cell in Tamil Nadu by its subsidiary. The plant's first module production is expected by year-end and the first cell production is expected in the first quarter of the financial year 2024-25 (FY25), Tata Power Renewable Energy Ltd (TPREL) said in a statement on Monday. «The US International Development Finance Corporation board of directors approved USD 425 million of financing in TP Solar Ltd, a subsidiary of TPREL, for its upcoming greenfield 4.3 GW solar cell and module manufacturing plant at Tirunelveli,» the statement said. «We appreciate the DFC's assistance for our solar cell and module production facility in Tamil Nadu.

Commodity trading juggernaut Vitol may be poised to jettison a chunk of its 40.85 per cent stake in ASX-listed fuel retailer and refiner Viva Energy.

Gina Rinehart has not ruled out launching a bid to rival Albemarle’s $6.6 billion takeover tilt at Liontown Resources after confirming she now holds a strategic stake in the West Australian lithium prize.

Alternative assets remain a key component of the investment decisions of limited partners according to a new survey.

Telesat on Monday said it has signed a agreement with SpaceX to launch its low-Earth-orbit (LEO) satellite constellation called Lightspeed starting in 2026, with the aim of providing global broadband service from space in late 2027. LEO satellites operate 36 times closer to Earth than traditional ones so they take less time to send and receive information, leading to better and faster broadband service even in remote areas.

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NS Venkatesh, CEO, AMFI, says “the equity flows are at a five-month high and mainly concentrated in the midcap, small cap and flexi cap funds. It is essentially because the investors find that the correction which happened in the smallcap as well as midcap space gives them an opportunity to participate in their upward story and that is why we are finding people putting money into the smallcaps and midcaps.”Firstly, let us talk about the SIP inflow numbers. It is above the Rs 15,000-crore mark for the second straight month on the trot and is at a record high level as well for the month of August. Do you expect this number to scale past the Rs 15,000 crore mark in September and touch Rs 16,000 crore?The SIP numbers are really good in the sense that we have touched an all-time high of Rs 15,800 crores during this month which is 500 crores above last month. We see the retail investors reposing faith and trust in the mutual fund industry and they are using the SIP as an investment vehicle to participate in the India story and we believe that going ahead we will see the SIP numbers on an increasing trend.

Investing.com -- Key U.S. inflation data later this week looms large, with investors hoping that the figures will help clear up uncertainty around the Federal Reserve's interest rate path for the rest of 2023. Elsewhere, Alibaba announces an unexpected leadership shake-up ahead of a planned restructuring of the sprawling Chinese business, while Arm reportedly eyes pricing its highly-anticipated initial public offering at the top end of its indicated range — or above.

Investing.com — Shares of Alibaba Group (HK:9988) (NYSE:BABA) slumped in Hong Kong trade on Monday after the e-commerce giant said that outgoing chief executive Daniel Zhang will also step down as the head of its cloud unit.

Sunil Subramaniam, MD & CEO, Sundaram Mutual, says “the massive rally that we have seen in smallcaps and lesser in midcaps is a function of the fact that from the middle of March, FIIs have been continuously pumping money into the stock market and largecap valuation has risen. Domestic fund managers, whether they be mutual funds or insurance companies or whoever, have been tending to sell the largecaps to the FIIs and reallocating that money into mid and smallcaps and that is one primary reason driving the rally.”One of your scheme’s NAV has hit Rs 900. It must have started from Rs 10 a unit, I am assuming. How many years did it take? What kind of compounding did investors get if they held on to it for that entire period?It has taken a little over 21 years and the compounding was 23.41% per annum. So it has been an incredible success story and those investors who stayed the course have obviously beaten every parameter that you can look at inflation, fixed deposit returns, anything else on such a thing. I think it reflects the growth of India because midcaps are India personified. The Indian story, the journeys of midcaps and domestic economy's growth, is reflected in this fund. And that will continue because as we all know now, the focus for the next half a dozen years, is back on the domestic economy.

Nvidia's supremacy in building computer chips for artificial intelligence has chilled venture funding for would-be rivals, investors said, with the number of US deals this quarter falling 80% from a year ago. The Santa Clara, California company dominates the market for chips that work with massive amounts of language data. Generative AI models get incrementally smarter through exposure to more data, a process called training.

Retirement is a phase in our life that many of us look forward to with great expectations. It’s the time when we hope to enjoy the fruits of our hard work. Most of us want to travel, pursue hobbies, and spend quality time. However, it becomes challenging when our retirement funds fall short of our expectations. With rising living costs, it is crucial to find solutions for a financially-safe retirement.

It all started about six decades ago when the Unit Trust of India launched the Unit Scheme-1964 scheme or US 64 as it was popularly known. UTI held sway over the mutual funds market for nearly 25 years thereafter before the space was thrown open to other state-owned players. But even after the private sector was allowed entry it took until May, 2014 for the average assets under management (AAUM) to hit the Rs 10-trillion mark. That had probably less to do with the chequered career of US 64 than the low levels of awareness of the stock market. However, over the last decade the value of assets has soared, crossing Rs 46 trillion in July; in the last three years, the industry clocked in a compounded annual growth rate of nearly 20%. Now, given how fast folios are being added and how the stock market is booming, the Rs 50 trillion mark seems just round the corner.

Flex is emerging now as a prominent asset class in the CRE (commercial real estate) segment. Today, even big enterprises and MNCs are going for flex spaces and for some global companies, the flex segment is a platform to expand their footprints in new markets. This is evident from the segment’s growth story over the last 2-3 years, says Ashish Agarwal, Co-founder & CEO, Enzyme Office Spaces, a leading chain of co-working spaces located across Bangalore.

Tesla Inc.’s Dojo supercomputer may add as much as $500 billion to the company’s market value through faster adoption of robotaxis and network services, according to Morgan Stanley.

This article is part of our Summer reads series. Visit the full collection for book lists, guest essays and more seasonal distractions. Creativity is both prized and puzzling. Although associated with certain qualities—imagination, originality, artistic flair—it defies easy definition.

Anthony Heredia, MD & CEO, Mahindra Manulife, says “smallcaps are clearly the winner of the last three to six months, but we personally believe that investors should be thinking about diversifying across caps at this point and within that, either you look at multi or flexi cap or you choose largecap from a three- to five-year perspective is our view.”The Street is shouting that the smallcap and the midcap end of the market is getting very crowded and very stretched but the retail end of the market continues to pour in record numbers in mutual funds via the SIP data. What is your view?The numbers look very positive and it is not just the SIPs; at least the August month data seems to be an all-round success. Obviously, small and midcaps continue to see flows, but you will interestingly see that a number of NFOs that were there in the month in sectoral or multi-cap themes did equally as well and the SIP numbers continue to be strong. I have said before that SIP numbers in 24 months from now will be at least double of what they are today because given the market valuations, SIPs is not just a great way for retail investors to participate but a lot of high net worth investors are also using the systematic route either through SIPs or STPs to come in. So, all around, it is a very good show from the industry standpoint.

JLL India. Real estate consultant JLL India on Monday released its report 'India Retail: Evolving to a new dawn' that highlighted the operational retail real estate space in shopping malls stood at 89 million square feet. The operational retail stock as of H1 2023 in the top seven cities (Delhi-NCR, Mumbai, Pune, Bengaluru, Kolkata, Chennai, and Hyderabad) stands at 89 million square feet as of June-end this year. Out of the total retail stocks in malls, Delhi NCR has the maximum 28 million square feet, followed by Mumbai with 17 million square feet and Bengaluru 14 million square feet. «The physical retail space segment has an expected supply pipeline of over 38 million sq ft of retail developments between H2 2023 and 2027, across the top seven cities,» JLL said.

Awfis Space solution has added 11 new properties totaling 8,000 seats across major markets in South India as it looks to strengthen its foothold in the growing flexible and managed office space in the country. The firm has signed prime properties across Bengaluru, Hyderabad, Chennai, and Kochi with the region contributing around around 45% of the company's portfolio. Amit Ramani, CEO and Founder, Awfis, said, «The region presents numerous opportunities through its expanding real estate landscape. This expansion aligns with our strategic approach to target emerging business hubs, offering an enhanced workspace experience through our diverse range of products and services.

Zhang quit just two months after concentrating his focus on cloud computing, raising concern over the unit's spin-off plan and possibility of discord at the top. New group CEO Eddie Wu will concurrently become acting CEO and chairman of a unit grappling with weak sales growth ahead of an initial public offering (IPO) penned for next year. «We have mixed thoughts on this news,» said Morningstar analyst Chelsey Tam in a client note. «We think this latest change was not planned back in June and there are concerns of disagreements among Alibaba's partners.» In June, Alibaba said Zhang would relinquish his group CEO role to focus on the cloud unit, the firm's number two money spinner. The Cloud Intelligence Group, valued at $41 billion to $60 billion earlier this year, is among five units Alibaba is spinning off as part of the biggest restructuring of its 24-year history. Alibaba said it will continue with its plan to spin off the cloud unit under a yet-to-be-appointed management team.

Coinbase is set to discontinue its operations in India, the firm has informed some customers through email. According to a TechCrunch report, the crypto exchange has now warned customers in India that the Coinbase crypto exchange is about to discontinue its operations in India, and users will be able to use the app only till September 25. “Please note that you will be able to access Coinbase.com or Coinbase app until September 25, 2023, and should withdraw funds held in your account by such date,” the email said, as cited by the TechCrunch report. Coinbase has also disabled users in India from signing up to its exchange, and asking them to download Coinbase Wallet, the report said on Monday.