COST Financial News

NSW Premier Chris Minns has rubbished claims it would cost taxpayers $3 billion to keep the giant Eraring coal-fired power station running for two years beyond its current used-by date to fill supply gaps as the state transitions to more renewable energy.

The New Zealand home loan market is irrational, unprofitable and ultra-competitive, major banks say. Still, that has not stopped non-bank lender Pepper Money from picking up HSBC’s mortgage book, as New Zealand’s Commerce Commission launches a probe into the banking sector.

IDFC First Bank jumped 5.4% to hit a 52-week high of Rs 98.5 in Monday's trade on BSE after US-based GQG Partners bought a stake in the private lender through bulk deals on Friday. According to exchange data, GQG Partners has picked up 17.1 crore shares or 2.58% stake in the lender for about Rs 1,527 crore. The transaction was done at Rs 89 apiece. Meanwhile, Warburg Pincus affiliate Cloverdell Investment has sold a 4.2% stake in the company.

Traditional car manufacturers including Volkswagen, Honda, Renault and Volvo are forecast to lose more than 20 per cent of their market share by 2030 because Chinese EV specialists such as BYD are making vehicles that are already 25 per cent cheaper.

Digant Haria, Co-Founder, GreenEdge Wealth, says “the whole rural recovery theme and the recovery of the entry level segments gets pushed away till next year. Unfortunately, we will see more of the same in the next few quarters as well. And yes, Maruti is gaining back its lost market share in the hatchback and the premium segments. This particular segment in the auto space should do well –premium cars and premium scooters.”How are minority shareholders going to react to Uday Kotak stepping down because Kotak Bank has really been an underperformer of late?This has been a discussion point since the last six-seven months that Uday's term will expire in December and who next and what next. It is not just that it is a total surprise; it was somewhat expected that he would have had to step down. The bigger question would be that the brand Kotak and Uday were just one and now with Uday stepping down and professional management taking over, whether it is an internal candidate that is selected by the RBI or whether RBI tells them to have an external candidate to maintain independence, it will be a more important decision that will drive the stock in the near term.

railway stocks Indian Railway Finance Corporation (IRFC), Rail Vikas Nigam (RVNL), and Jupiter Wagons rallied up to 19% in Monday's trade backed by heavy volumes on the NSE. IRFC topped the volume chart on NSE. The stock surged over 19% at Rs 66, as 22,30,99,748 shares worth Rs 1,404.6 crore changed hands on the counter. IRFC also delivered multibagger returns to its investors, as the stock has rallied 100% year-to-date.

G-20 Summit on September 9 and 10 at the newly constructed Bharat Mandapam Convention Centre in Pragati Maidan in New Delhi. Ahead of the much-anticipated event, Delhi Police Metro unit head has asked the Chief Security Commissioner to close some metro station gates towards the VVIP routes from September 8 to 10.

Sooryavansham: The Box Office Flop That Made Set M... moreSooryavansham: The Box Office Flop That Made Set Max Over 100 Crores It was a 1999 Bollywood film that was a box office flop.

mutual funds. We examine the key fundamentals of the fund, its portfolio and performance to help you make an informed investment decision.BASIC FACTS DATE OF LAUNCH 9 AUGUST 2005CATEGORYEQUITYTYPE LARGE & MIDCAPAUM* Rs.2,802 croreBENCHMARK NIFTY LARGE MIDCAP 250 TOTAL RETURN INDEX WHAT IT COSTS NAV** GROWTH OPTION Rs.85.90IDCW** Rs.21.69MINIMUM INVESTMENT Rs.1,000MINIMUM SIP AMOUNT Rs.100EXPENSE RATIO* (%) 1.99EXIT LOAD For units in excess of 10% of the investment,1% will be charged for redemption within 365 days.#AS ON 31 JULY 2023 *AS ON 31 JULY 2023 **AS ON 29 AUGUST 2023FUND MANAGER MANISH GUNWANI 6 MONTHSRecent portfolio changes New entrants Ajanta Pharma, Apar Industries, Asahi India Glass, Aurobindo Pharma, Crompton Greaves Consumer Electricals, GE T&D India, Gland Pharma, Hindalco Inds, Hitachi Energy India, Indian Bank, Jio Financial Services, KEC International, Macrotech Developers, M&M Financial Services, Navin Fluorine International, NHPC, Polycab India, REC, Siemens, Sona BLW Precision Forgings, The Federal Bank, Vishnu Chemicals.Complete exits Aditya Birla Capital, Cholamandalam Investment & Finance Company, Container Corporation of India, Emami, Equitas Small Finance Bank, Housing Development Finance Corporation, IndusInd Bank, K.P.R.

India has been working on a CBDC for years, with the arguing that a digital rupee could reduce costs associated with physical cash management, boost financial inclusion, improve efficiency, and encourage innovation in cross-border payments.YES Bank is one of four lenders to have been picked by the RBI for an eRupee retail pilot, using a unique QR code mechanism for conducting transactions. Now, users can scan any UPI QR code through the YES Bank Digital Rupee app, expanding the CBDC's reach.

ET Sustainability Forum. Today’s technological advancements in data capturing and data management using internet of things (IoT) are helping companies monitor all the operations in real time to track performance and improve energy efficiency, said Dr Pradeep Panigrahi, Head, Corporate Sustainability, Larsen & Toubro.

PARIS (Reuters) — Food price inflation in France will likely fall significantly starting in January, following the government's plan to bring forward annual price negotiations between retailers and consumer goods companies initially planned for next year, Carrefour (EPA:CARR) chairman and chief executive Alexandre Bompard said on Sunday.

MUNICH (Reuters) — The variable costs for producing electric vehicles will remain higher compared to combustion engine models for the foreseeable future, the chief executive of Mercedes-Benz (OTC:MBGAF) said on Sunday, adding this would continue to fuel intense competition.

Lenders to the debt-laden textile company Sumeet Industries are in negotiations with the Gujarat-based Gajera Group to improve its offer after its initial bid to take over the company was bettered by Geelon Industries, three people familiar with the matter said.Banks are seeking more than ₹250 crore for the company in an all-cash deal, higher than the ₹221 crore offered by Geelon, these people said. Sumeet has been classified as a non-performing account (NPA) with banks for more than three years. It owes lenders led by the Bank of Baroda (BoB) more than ₹900 crore including about ₹530 crore in principal.

real estate developer Anant Raj Limited plans to develop 300 MW data centre buildings with a total investment of ₹10,000 crore in the next few years, said its managing director Amit Sarin. Having previously constructed three IT buildings in Manesar, Rai and Panchkula in Haryana, the company is presently in the process of transforming these structures into data centres, he told ET. «The three projects possess the potential to accommodate 300 MW of data, and we benefit from having pre-existing structures that simply need to be adapted to meet the specifications essential for a data centre. The initial phase of Manesar Park is ready with a 21 MW capacity, and the complete project is designed for a total capacity of 50 MW,» said Sarin. Industry experts have projected a demand for about 20 million square feet of data centre space across key cities in the next four-five years. Anant Raj holds 1.2 million square feet in Manesar on a 10-acre site, 2.1 million square feet on a 25-acre plot in Rai (with the possibility of doubling capacity) and 500,000 square feet on a 10-acre land in Panchkula (with expansion options). «In Manesar, we have the potential to reach 50 MW, while Rai can accommodate a 200 MW data centre.

Tata Steel, and Bharat Heavy Electricals. These orders—let’s say to make 1,000 precision parts that will go into an aircraft—are next routed to the right manufacturers in its network. Manufacturers quote their prices and the work is finally sub-contracted.

NEW DELHI : Streaming platforms Netflix and Disney+ Hotstar are in various stages of curbing password sharing in India, while others like Amazon Prime Video raised fees earlier this year, setting the course for subscription-based video-on-demand (SVoD) services in the country. Media and entertainment industry experts said these steps aim at better monetization, as costs of content creation rise with the entry of more players. While many point out quality, rather than volume of content will become critical, others see bundling of apps by aggregators helping affordability.

Real estate is booming and rentals more so. With companies now driving back the workforce to office post the covid pandemic, renting houses in metros has become a nightmarish experience. This is particularly true in Bengaluru, where landlords even check your Linkedin profile before signing a rental agreement. Tenants also have to deposit a big advance and pay brokerage fees before moving in.

By Giuseppe Fonte and Giancarlo Navach

G20 Summit in New Delhi on September 9 and 10. The arrangements will be a showcase for Prime Minister Narendra Modi and India's growing presence on the world stage. The two-day summit will have the most high-profile guest list India has ever welcomed, from US President Biden to British Prime Minister Rishi Sunak and Saudi Arabia's Mohammed Bin Salman.

INDIA bloc will defeat the NDA in the 2024 Lok Sabha polls and the upcoming assembly elections in different states, Congress leader Ghulam Ahmad Mir said on Sunday.