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Rahul Singh, CIO-Equities, Tata Mutual Fund, in an interview with Mint. He added that slower urban consumption contrasts rural recovery. He also shared his views on rate cuts by the RBI and the IT sector.

«The picture seems to be very good as far as public sector banks and the overall banking scenario in the country is concerned and it is an effort which had started a couple of years ago,» says Rajnish Kumar, Former Chairman, SBI.Let us get in an overall picture from you on the entire banking sector because we have seen balance sheets getting cleaner, growth looking strong, it is pretty strong environment as well. So, given the fact that historically private sector banks have thrived, a lot of public sector banks are now looking a little more competitive, valuations as well are looking better. So, how does the picture stack up?The picture seems to be very good as far as public sector banks and the overall banking scenario in the country is concerned and it is an effort which had started a couple of years ago. All the banks took steps to clean up their balance sheet.

The Russian Central Bank says it plans to begin classifying the digital ruble, the nation’s CBDC, as a “high-quality liquid asset” (HQLA), and will likely eventually oblige banks in the country to follow suit.

inflation on an annual basis, Indians are still not opting for high-priced large consumer product packs, a TOI report showed on Tuesday. Citing research from retail intelligence platform Bizom, the report said that the sales growth in high-value packs across FMCG categories shrank in July over the previous year. Low-and-mid-priced packs still figured among the preferred alternatives for most Indians as prices of large packs remain higher than expected. «When the price of a pack rises above a certain psychological threshold — say a Rs 100 pack becomes Rs 110 — then it's difficult to get consumers to purchase these packs. Moreover, e-commerce and quick commerce, where consumers make impulse purchases of small-and-mid-priced packs, continues to grow faster than modern trade where high-value packs are usually bought,» said Mayank Shah, senior category head at Parle Products. He added that consumers are okay with grammage reductions because extra money does not go out of their pockets.

crude oil imports from Russia dipped for the first time in nine months, while inbound shipments from Saudi Arabia tumbled to their lowest in 2-1/2 years following OPEC+ cuts, tanker data from trade and industry sources showed. Both China and India, the world's biggest and third-biggest oil importers, cut imports from Russia and Saudi Arabia in July after prices rose and as the two oil producers reduced output and crude oil shipments. Saudi Arabia volunteered to cut output by another 1 million barrels per day (bpd) from July through September, and Russia will reduce exports in August by 500,000 bpd, part of a deal among members of the Organization of the Petroleum Exporting Countries and its allies, a grouping know as OPEC+, to curb supplies and support prices. India's overall imports also declined 5.2% from June to 4.4 million bpd oil in July, the data showed, as several refining plants are shut for maintenance during monsoon season.Russian oil imports declined 5.7% to 1.85 million bpd and Saudi shipments fell by 26% to 470,000 bpd, the data showed. India imports more than 80% of its overall oil needs. Indian refiners that have been diversifying their oil import sources to cut costs began snapping up Russian oil at a discount as some Western companies stopped purchasing from Moscow following its invasion of Ukraine in February 2022. India's import of Russian oil may now decline further in August and September, however, as refiners plan maintenance at their plants and as Russian crude prices are above the $60-a-barrel ceiling imposed by the European Union and G7 economies after spot discounts shrank, sources said. Russia was still the top oil supplier to India in July, though, followed by Iraq and Saudi Arabia.

CarTrade Tech share price rallied more than 6% on Tuesday, with the stock hitting an intraday high of ₹518.00 apiece on the BSE. The gains in CarTrade Tech shares came after analysts maintained their positive view on the company’s acquisition of Sobek Auto India Private Limited, which includes OLX classifieds platform as well as OLX Autos C2B transactions business.

₹10 lakh, you can buy produce at a higher rate by ₹10 or ₹20 than the retail rate. Those who cannot afford to buy onion, it would make no difference if they do not eat it for two-four months. "Sometimes onion fetches rates of ₹200 per quintal while some times it attracts ₹2,000 per quintal.

Life Insurance Corporation of India (LIC), the state-run insurance behemoth, on Tuesday announced that it has acquired 6.66% shareholding in Jio Financial Services Ltd. (JFSL). In an exchange filing, LIC said that the cost of acquisition of JFSL shares, which was done through the demerger of the non-banking financial entity, is 4.68% of the pre-demerged cost of Reliance Industries as per the notice of the company dated July 19.

«I think it is an interesting trend, as you rightly put it, whenever the interest rates go up to significantly higher level, generally the assumption that all of us make is the cost of capital for companies will rise, therefore it will have an impact on the expansion and for the future growth and therefore the market generally tends to correct,» says A Balasubramanian, MD & CEO, ABSL AMC.So far so good, no one is complaining, I just want to bring your attention to what is happening in the world in terms of the global macro positioning, bond yields are at 15 year high, crude is on a boil again, US economy is doing well, dollar index is rising. When these factors come together, markets historically has gone down but so far both global markets and local markets have resisted the fall.I think it is an interesting trend, as you rightly put it, whenever the interest rates go up to significantly higher level, generally the assumption that all of us make is the cost of capital for companies will rise, therefore it will have an impact on the expansion and for the future growth and therefore the market generally tends to correct.

Treasury yields are sending shudders through riskier areas of the market, leaving investors to wonder how badly it will dent a rally that has lifted everything from stocks to bitcoin this year. Strong economic growth has spurred expectations that the Federal Reserve will leave rates higher for longer, pushing Treasury yields this month to their highest levels since 2007. That climb has made them harder to ignore for holders of stocks and other speculative assets, which have rallied for most of the year even as yields moved steadily higher. The S&P 500 has lost 4% this month as the U.S.

textile sector which has conventionally served as the bedrock for most of its industrial labour is staring at a gloomy future. Once a thriving sector of Pakistan's economy, the industry now struggles with low exports amid a deepening crisis. The past two years have seen the country’s finances struggling including forex reserves, inflation, debt to GDP ratio, fiscal and current account deficit.

Bajaj Finance, Macquarie maintained an outperform rating on HDFC Bank, Nomura retained a buy rating on Bharat Forge and it has a buy rating on CarTrade. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: BofA on Bajaj Finance: Buy| Target Rs 8750 BofA Securities maintained a buy rating on Bajaj Finance with a target price of Rs 8750. The company has multiple levers to support growth. The focus is on diversification.

₹60 a kg. Despite her best efforts at setting up Fair Price Shops, and quashing rumours about the scarcity of onions, there was no coming back for her as Delhi's CM. Stable food prices are crucial for PM Modi, who will seek a third five-year term in national elections next year.

Fund managers were assessing four capital raisings on Tuesday morning as a trio of ASX-listed explorers and a traffic management operator entered trading halts.

Lachlan Murdoch has paid more than $1.3 million in legal costs to Crikey to settle the bill associated with the media mogul’s abandoned defamation proceedings against the small Canberra publisher.

“We agree that new-age businesses are key for growing the Indian markets and economy,” says Prashant Bisht, Deputy CIO at True Beacon. In an interview with ETMarkets, Bisht said: “India is home to 108 unicorns, and almost 60% of the firms were established in the past few years; these firms are collectively valued at over $340 billion and have made sizeable contributions to the economy” Edited excerpts:Market seems to be consolidating after hitting record highs. What is your take on markets? Indian markets (i.e., NIFTY50) have been scaling new highs every month since the close of March 2023.

cash holdings on bets the central bank will raise borrowing costs further, helping it deploy funds at higher yields.SBI Funds Management Pvt. has been trimming the duration of its portfolio since May and wants to keep the cash handy for better investment opportunities as a sudden spike in inflation sparks debate on odds of more rate hikes.

Scrapping subsidies for electric vehicles would be counterproductive and make it harder for low-emission vehicles to gain a foothold in the Australian market, the peak EV industry body says.

Perth-based engineering group Monadelphous expects to secure more resources and energy contracts after its annual net profit rose 2.5 per cent to $53.5 million, boosted by higher income from a renewable energy joint venture.

Charles Schwab Corp. is planning to cut jobs and close or downsize offices to achieve at least $500 million in annual cost savings as the brokerage responds to investor pressure.

Persistent, LTTS, Coforge, and Happiest Minds expect headcount additions across laterals and freshers in the next few quarters after reporting positive revenue growth – although subdued – in the last quarter even as macroeconomic challenges persist. This is in contrast to large-cap IT firms that have reported weak numbers and are expecting a dip in headcount. While larger players are conserving resources and maintaining a cautious approach to hiring due to macroeconomic uncertainties, midcaps are focusing on bringing in more freshers to balance out employee costs. Happiest Minds plans to add around 1,300 to its workforce during the fiscal year while Persistent expects to onboard almost 800 freshers by December. Coforge management during its recent earnings call said out of the 1,000 people added during the first quarter, 200 were graduate engineer trainees. The company has reiterated its annual revenue growth guidance of 13-16% in constant currency terms despite deferrals in deal closures. Coforge has also seen healthy growth in the US in the last quarter of around 5.6% despite an unfavourable economic environment there. “So, at this point in time, given how big the tech services market in the US is, and how small we are in relative terms, we still see clear opportunities in the market,” Coforge chief executive Sudhir Singh told ET. The company has built a solid bench strength of employees to service some of the large deals it has won, he said. Persistent reported in-line numbers during the April-June quarter, led by strong growth across the top client base and marquee deals.