Compilation Financial News

National Testing Agency (NTA) is set to announce the results of JEE Main Session 1 on February 12. This comes after the release of the answer keys on February 6. The exams were conducted online from January 24 to February 1, with about 544 centers in 291 cities (including 21 cities outside India). The attendance rate for the January session of JEE Mains 2024 was quite high, with 95.8% for Paper 1 and 75% for Paper 2. This year, there was a significant increase in the number of registered candidates, reaching approximately 12,31,874. The number of cities and examination centers also expanded. For the first time, the number of applicants for Paper 1 surpassed 11 lakhs, compared to 8.23 lakhs in 2023 and 7.69 lakhs in 2022. The attendance rate for this year has surpassed the previous year's rate of 88.2%. NTA had earlier released the answer key for JEE Main 2024 session 1 on its official website, jeemain.nta.ac.in. The results, which will be announced on February 12, will be compiled using the final answer key. It is important to note that any concerns related to the answer key(s) will not be considered after the declaration of the JEE (Main) — 2024 result/NTA Score.

The number of taxpayers with an annual income of Rs 1 crore and above rose 15% on year to 216,217 as on December 31, 2023, minister of state for finance Pankaj Chaudhary informed the Rajya Sabha on Tuesday.

Bitcoin steadied around $40,000 amid a slowdown in outflows from the $20 billion Grayscale Bitcoin Trust that strategists said may help to stanch a two-week slump in the token.

ClimateGPT is a compilation of various open-source large language AI models that focus on highlighting the impact of climate change. The tool, powered by Dutch startup Erasmus.AI, accesses over 10 billion web pages and millions of open-access academic articles across natural, social, and economic sciences to ensure credibility and authenticity.

Just twenty-four days into 2024, and the S&P 500 has already blown past the Wall Street consensus over where the index will finish the year.

Nomura Asset Management’s Richard Hodges began the year by buying credit default swaps, worried that rate cut bets were becoming too aggressive. He reduced the hedge when the cost of protection increased, and now stands ready to dip in again.

Wall Street firms in Asia dropped to the lowest level in almost two decades, according to people familiar with the matter, as a dearth of deals in China and Hong Kong hammered the industry. Total compensation for many senior bankers in Asia ex-Japan fell to $700,000 to $800,000, well below the $1 million or more they have typically earned since the turn of the millennium, the people said, asking not to be identified discussing private matters. At least 20 percent of managing directors at banks including Morgan Stanley and UBS Group AG, received no bonuses last year, the people said.

Interim Budget 2024, was held in North Block in the presence of Union Finance Minister Nirmala Sitharaman and MoS Finance Bhagwat Kisanrao Karad on Wednesday. So, what is ‘Halwa ceremony’? And why is it so important? The budget-making is a long process, it takes several months of planning, consulting and compiling to create the final draft of the Budget document. The process begins almost six months before the financial statement is presented in Parliament, commencing deliberations in August-September of the previous year.

By Jonathan Cable

Rohit Sharma as captain of the ODI Team of the Year 2023, which includes as many as six Indians. The other two teams that have more than one representative are World Champions Australia and South Africa, from where two cricketers each in the team are named, while all-rounder Daryl Mitchell was the only representative from New Zealand. Apart from Rohit, the other Indians in the team were batters Virat Kohli and Shubman Gill, spinner Kuldeep Yadav, and pacers Mohammed Siraj and Mohammed Shami.

Markets LIVE Updates here "It was inevitable… Markets often seem irrational, but at their best, they are harbingers of an economy’s future. And the future looks strong, to say the least. Continuing reforms combined with strong governance of markets and the financial system will keep us Rising…" he posted.

cases of COVID-19 sub-variant JN.1 have been recorded in the country so far with Maharashtra and Karnataka registering the highest number of cases of the variant, according to INSACOG on Sunday. Data compiled by the Indian SARS-CoV-2 Genomics Consortium (INSACOG) showed Maharashtra has recorded the highest number of JN.1 cases at 382 followed by Karnataka at 249.

Nelson Peltz’s Trian Fund Management is formally nominating the activist investor and a former Disney executive for a seat on Disney’s board, two days after the media and entertainment company nominated its own slate of directors

Slashed earnings estimates are creating the optimal platform for US companies to beat expectations this earnings season, according to Morgan Stanley’s Michael Wilson.

Indian stocks are trading near their most expensive levels against battered Chinese peers, underscoring a growing divergence in investor preference between the two emerging market leaders. The MSCI India Index trades at a 157% premium over the China gauge on valuations based on forward earnings estimates, just 3 percentage points short of the record reached in October 2022, according to data compiled by Bloomberg. India — long dubbed the “next China” — has emerged as an investor favorite, aided by solid earnings and a booming consumer market. It’s ascent came on the back of a sluggish Chinese market, where problems ranging from rivalry with the US and deflationary pressures led to a third annual decline in the MSCI China gauge.

At least $1 trillion of government securities traded daily in the most populous nation and biggest democracy is poised to become the darling of international investors when India this year joins the benchmark for emerging-market debt compiled by JPMorgan Chase & Co. India's entry following Russia’s exclusion after Vladimir Putin's 2022 invasion of Ukraine (and 2014 seizure of Crimea) and when China's sovereign debt is losing its luster, will make Asia's third-largest economy a beneficiary of as much as $40 billion of inflows during the next 18 months, according to Goldman Sachs Group Inc.

Nirmala Sitharaman will rise in the Lok Sabha on February 1 to present the Union Budget 2024-25. It will be an interim Budget as the elections for the Lok Sabha are due early next year. The full Budget for FY25 will be presented after the formation of the new government following the general elections.

Reserve Bank of India (RBI) to give some relief to mainstream banks and development financiers on downstream loan-linked Alternative Investment Fund (AIF) exposures, which they were required to either liquidate by later this week or totally provide for in compliance with the central bank’s December 19 prudential directive. Non-banking financial companies (NBFC), however, are unlikely to be provided any relief by the RBI, with industry sources saying the primary goal of the original directive was to de-risk AIF exposures of NBFCs with downstream loan relationships with AIF beneficiaries, and prevent potential evergreening of doubtful advances to struggling corporates. “The RBI is unlikely to provide NBFCs exemptions on compliance, but banks and other financial institutions are likely to get relief,” said a banking industry source close to the development. January 18 is the liquidation deadline for under-scanner AIF exposures by banks, NBFCs, and development financial institutions (DFI), which primarily advance funds to MSMEs. A spokesperson at the RBI did not respond to ET’s requests for comment. Data compiled by the capital-markets regulator, the Securities and Exchange Board of India (Sebi), showed that funds raised by AIFs have risen to Rs 3.74 lakh crore by the end of FY23, from Rs 2.30 lakh crore in FY20.

Kaushal Raj Sharma, the director of the religious affairs department and divisional commissioner in Varanasi, said that 3 lakh laddoos are being readied for distribution through the Kashi Vishwanath Temple. 1.5 lakh laddoos will be distributed among devotees at Kashi Vishwanath Dham on January 22 while affiliated temples in Sarnath and Chandauli are slated to receive 20,000 laddoos each for distribution among their visitors, he said. Sharma mentioned that a list of temples interested in participating in the laddoo distribution is currently being compiled, and approximately 100 temples are expected to distribute 1,100 laddoos each.

stressed firms were rescued through the insolvency law in 2023 and the resolutions fetched their creditors more than three times the amount raised through 160 such debt resolutions in 2022, a senior official told ET, citing data compiled by the bankruptcy regulator. The realisation proceeds were to the tune of ₹67,000 crore in 2023 against ₹20,860 crore in 2022, according to the Insolvency and Bankruptcy Board of India (IBBI) data yet to be made public. The jump indicates a «robust upward trajectory» in the IBC's (Insolvency and Bankruptcy Code's) effectiveness, the official said. A Delhi-based expert involved in shaping the insolvency policy said the 2023 resolution numbers also mirror the broader economic momentum being witnessed after the pandemic blues, which has expanded the universe of bidders for stressed assets.

REITs and InvITs have gained popularity as preferred investment options, with fundraising, through the route, surging 10-fold year-on-year to ₹11,474 crore in 2023, supported by measures taken by regulator Sebi and attractive returns offered by the instruments. Going ahead, fund mobilisation by REITs (real estate investment trusts) and InvITs (infrastructure investment trusts) is poised for significant growth in 2024, driven by several key factors, including anticipation of rate cuts and introduction of a range of policies aimed at encouraging investments like tax incentives and relaxed investment norms, Claravest Technologies co-founder Manaki Parulekar said. «This year, we are likely to see interest rates decrease in the first half of 2024 due to the expected drop in inflation. These conditions are favourable for investors who are looking to invest in long-term opportunities, such as REITs and InvITs,» he added. According to data compiled by Prime Database.com, REITs and InvITs collectively raised ₹11,474 crore in 2023 compared to a record low amount of ₹1,166 crore clocked in 2022. Before that, funds to the tune of ₹17,641 crore were collected through the route in 2021 and ₹29,715 crore in 2020, the data showed. REITs and InvITs are new concepts in the Indian market but have been a popular choice globally for their lucrative returns and capital appreciation. A REIT is made up of a portfolio of commercial real estate assets, the majority of which are already leased out, and InvITs consist of a portfolio of infrastructure assets like highways. Overall, InvITs and REITs have seen tremendous growth.