COST Financial News

“Highly leveraged companies, frequent equity dilution, etc are some of the traits which are avoided while picking companies,” says Siddharth Oberoi, Chief Investment Officer at Prudent Equity. In an interview with ETMarkets, Oberoi who manages AUM of over Rs 250 cr said: “The Indian economy is doing very well. Companies focused on domestic demand are witnessing double-digit growth” Edited excerpts:The Prudent Equity ACE Fund has been a marked outperformer since its launch in 2022. Take us through your investment philosophy. The fund started in December 2022 and has been able to generate returns of 26% in the first 7 months of operation.

D-MartAvenue Supermarts Ltd reported a mere 2% rise in net profit for the quarter ended June to Rs 695 crore, despite a double-digit growth in revenue.HDFC Bank, LTIMindtree, Tata ElxsiShares of HDFC Bank, LTIMindtree, and Tata Elxsi will be in focus today as the companies will announce their first quarter results.Read more: What changed the market while you were sleepingAngel OneLeading broker Angel One has been from onboarding new authorised persons (APs) for alleged failure to monitor the operations of its APs.M&MMahindra & Mahindra signed an MoU with NXP to explore the electric and connected vehicle landscape, covering a wide range of vehicles including utility vehicles, light commercial vehicles, farm equipment, and tractors.CCL ProductsCCL Products has reported a net profit of Rs 61 crore for the first quarter ended March.

Investing.com-- Gold prices retreated from one-month highs on Monday, as traders locked in some profits after two weeks of gains, while copper prices fell amid uncertainty over a slew of major Chinese economic readings.

Ola Electric Mobility Pvt. is in line for an initial public offering sooner than its founder previously imagined, reflecting the Indian startup’s whirlwind pace of growth since it started selling electric scooters in late 2021.

ET Wealth tells you how to reduce unnecessary expenses that may not be providing any bang for your buck.Extended warranty Several manufacturers of appliances and vehicles offer extended warranties for a price. This is over and above the free, standard warranty that these offer. There is no difference in the service as it is only an extension of your warranty by 2-5 years.THE CATCH: These warranties often come with terms and conditions that make them more problematic than being useful.

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 13 JANUARY 2006CATEGORY EQUITYTYPE SMALL CAPAUM* Rs.8,577 croreBENCHMARK NIFTY SMALLCAP 250 TOTAL RETURN INDEX WHAT IT COSTS NAV** GROWTH OPTION Rs.114.46IDCW** Rs.38.44MINIMUM INVESTMENT Rs.5,000MINIMUM SIP AMOUNT Rs.500EXPENSE RATIO* (%) 1.80EXIT LOAD 1% for redemption within 365 days*AS ON 31 MAY 2023 **AS ON 11 JULY 2023FUND MANAGER R. JANAKIRAMAN 15 YEARS, 4 MONTHSRecent portfolio changes New entrantsGHCL Textiles, Hitachi Energy India (April).

Critical minerals producer IGO has slashed 75 per cent off the value of two nickel mines it bought for $1.3 billion just one year ago from Western Areas.

PwC’s initial analysis on the benefits of Victorian Premier Daniel Andrews’ $125 billion Suburban Rail Loop should be re-examined, given ballooning construction costs and wages, questionable economic benefits and a funding black hole, transport experts warn.

Exchange-traded funds can still compete in today's «stock picker's» market, according to a top investor.

NEW DELHI : Indian Railways is preparing to purchase Kavach automatic train protection (ATP) systems at a cost of ₹5,000 crore following the triple-train crash in Odisha’s Balasore that killed nearly 300 people, two people aware of the matter said. Two tenders for Kavach covering a total of 12,000 kilometres (km) will be issued within a year against a tender for 3,000 km that was issued in 2021, the people said on condition of anonymity. Kavach prevents head-on crashes even if the train pilot fails to see and act on signals.

REC, a subsidiary of Power Finance Corp., plans to expand its lending in the renewable energy space to Rs 2.4 lakh crore by 2030, says its director-technical, VK Singh. While land and grid availability can be challenging for developing new green energy projects, policies of the government and support from states have been encouraging, he tells Shilpy Sinha. Edited excerpts:The renewables space has been gathering pace. How is REC positioned considering India's target of achieving 500 GW capacity by 2030? India is at 175 GW and needs to add 325 GW by 2030.

finance companies (NBFCs) are expected to continue their growth momentum riding on strong demand for loans even as credit costs are likely to remain benign in the first quarter ending June 2023. Analysts expect profit growth for NBFCs in the 15% to 25% range with loan books likely to increase by about 10%.

United Arab Emirates (UAE) to trade in local currencies is the second big step towards internationalising the rupee. Russia last year agreed to sell crude oil to India in rupees after the West imposed sanctions on settlement in dollars. India is beginning at the top with the UAE, its third-largest trading partner after the US and China.

DGGI) has sent tax demand notices to several local corporate houses over corporate guarantees given on behalf of their subsidiaries, and to multinationals where they have given such guarantees for their Indian units. The notices were sent to at least 14 companies, including automakers, FMCG and electronic goods companies, ET has learnt. In a notice ET has seen, the DGGI said the practice is a ‘service’ liable for taxation under GST as this is undertaken by the parent company to maximise the returns on investment on these subsidiaries. In the case of MNCs, tax authorities are seeking GST dues from the local unit under the reverse charge mechanism. “We have discovered that some companies were not paying tax on the corporate guarantee extended by them which is liable for tax under the GST during the audit and so tax demand has been raised as per the law,” a senior official told ET. While the tax demand amount is not very high, companies that received such notices have raised objections and are seeking legal opinion, sources said. Officials estimated the cumulative sum of demand notices sent in the last two months to be Rs 600-700 crore.

Trading activity has once again picked up on the stock exchanges. The number of new demat accounts hit a 13-month high in June after 2.36 million new accounts were opened last month, taking the total tally to 120.5 million. This renewed investor interest comes in the wake of a run-up in the stock markets, which have reached new highs.

By Julie Steenhuysen

By Nidal al-Mughrabi

Housing Development Finance Corporation (HDFC). With expectations of strong loan growth and the integration benefits from the merger, HDFC Bank's Q1 results are poised to make headlines. Analysts estimate that HDFC Bank will report a standalone net profit of ₹11,580 crore for the April-June period, representing an impressive 25.9% jump compared to the same period last year.

New Delhi: Prices of retail milk are expected to go up 4-5% year-on-year in FY24 because of dairy processors fail to recover the cost, which has been hit throughout pandemic, especially during the second wave amid higher commodities prices pushing up fodder prices and weighing on milk productivity, Crisil director Pushan Sharma told Mint in an interview. This comes at a time when retail milk prices have shot up by 10% in a year and nearly 22% in three years.

₹23,000 crore FY 2023 from over ₹40,000 crore in 2019-20, said real estate consultant Anarock, citing cash flow improved on strong housing sales. Anarock even noted that the unfettered demand for housing across the country has enabled the leading large and listed developers to reduce their debt. The consultant analyzed financial performances of the top eight developers -- including DLF, Macrotech Developers (Lodha brand), Godrej Properties, Prestige Estates Projects, Sobha, Brigade Enterprises, Puravankara, and Mahindra Lifespace Developers Ltd -- engaged in the development of residential real estate.

Birkin Bags. Almost every celebrity seems to don one these days.  The bag that now remains an example of conspicuous consumption, is priced between $10,000 and  $250,000 for the more high-end designs.