Country Financial News

Quant Mutual Fund, which is under the Securities and Exchange Board of India (SEBI) scanner over an alleged front-running case, is one of the country's fastest-growing fund houses. According to data collected from ValueResearch, it has a total assets under management (AUM) of more than ₹84,000 crore.The decade-old fund house has generated high returns over the years for investors, thanks to the best-performing mutual fund schemes in its arsenal. Here is a list of best-performing funds from Ouant MF (as per data collected from ValueResearch reports):1.

external debt was placed at $663.8 billion, an increase of US$ 39.7 billion over its level at end-March 2023, informed the Reserve Bank of India on Tuesday. If the valuation effect were excluded, external debt would have increased by $48.4 billion instead of $ 39.7 billion. Despite the rise, the country's external debt to GDP ratio declined to 18.7 per cent at end-March 2024 from 19 per cent at the end of March 2023. The ratio comprises both government and non-government Debt. As per the data provided by the central bank, the government's external debt stood at 4.2 per cent of GDP while the non-government sector's external debt was placed at 14.5 per cent. «US dollar-denominated debt remained the largest component of India’s external debt, with a share of 53.8 per cent at end-March 2024, followed by debt denominated in the Indian rupee (31.5 per cent), yen (5.8 per cent), SDR (5.4 per cent), and euro (2.8 per cent),» said country's central bank in the statement.

BENGALURU:The Indian Venture and Alternate Capital Association (IVCA) has sought a review of the Competition Commission of India's (CCI's) definition of control over companies by private equity (PE) funds in a meeting with the Union finance minister Nirmala Sitharaman ahead of the Budget 2024-25.“When PE funds invest in companies, they have some rights to protect themselves that can be viewed as a control position. So, the question was if there can be an exemption for PE funds," Srini Sriniwasan, vice-chairperson of the industry body for alternative assests, told Mint in an interview on Tuesday.Besides, the IVCA discussed measures to boost domestic capital in alternative investment funds (AIFs) to finance infrastructure, credit, startups and growth companies in the pre-budget consultation meeting on 20 June.The finance minister is expected to present the budget by July end.Sriniwasan, who is also the managing director of Kotak Alternate Asset Managers Ltd, asked for more clarity on the definition of what constitutes a PE investor.

Bank of Canada governor Tiff Macklem says the country must not take its competitive labour market for granted, adding that with inflation much closer to two per cent, there is room to invest in new jobs without creating inflationary pressures.

By Murtaza Haider and Stephen Moranis

DALIAN, China — Cisco is «very optimistic» about its growing business with Chinese electric car companies as they expand overseas, the company's Greater China head told CNBC on Tuesday.

Forensic and other experts are combing through the charred ruins of a factory building near South Korea’s capital to find the cause of a fire that killed 23 people, mostly Chinese migrant workers

China’s premier has defended open markets and the importance of green technologies for stabilizing global growth as he opened a forum with political and business elites in northeastern China

The Norwegian government has signed a deal to start stockpiling grain, saying the COVID-19 pandemic, a war in Europe and climate change have made it necessary

helicopter service from Jammu to the Mata Vaisho Devi temple began on Tuesday, facilitating pilgrims who wish to perform 'darshan' at the revered shrine within a day due to time constraints, officials said. This is in addition to the helicopter service which is already available between Katra, the base camp for the pilgrims visiting the famous shrine atop Trikuta hills in Reasi district, and Sanjhi Chhat near the temple with a one-way fare of Rs 2,100 per person. Pilgrims opting for the service from Jammu can choose between two packages — Rs 35,000 per passenger for same day return and Rs 60,000 per person for next day return. Marking the commencement of the new service, the first helicopter carrying pilgrims left Jammu airport at around 11 am and landed on Panchi helipad along the new trek to the shrine, the officials said.

Citi Country Officer for India and Head of Banking for Indian Sub-Continent. Shah has been entrusted with the responsibility of providing strategic financial support to Khullar.Ashu Khullar said Shah’s appointment as the CFO, which comes with his experience in operations, would boost Citi Bank’s financial leadership. “Jeegar's deep knowledge of our operations in India and proven track record in financial management make him exceptionally qualified for this critical role," said Ashu Khullar.

Mint. Members of the council may be directly appointed by the central government or based on the advice of a special search-cum-selection committee, the person said. “There is a definite push for mediation right now," the other person said.

The future of developing countries is in services. This may sound odd in view of the fact that industrialization has been the traditional road to growth and eventual prosperity, one travelled by all of today’s rich economies and by more recent successes such as South Korea, Taiwan and China. Manufacturing seems even more essential given that industrial policies to revive it are back in fashion in the US and Europe.

Jubilant FoodWorks with a target price of ₹490 (13 percent downside) and Accumulate on Westlife Foodworld with a target price of ₹817 (3 percent downside).The Quick Service Restaurant sector in India has traditionally been dominated by multinational giants like McDonald’s, Domino’s, Burger King, and Pizza Hut, which have established strong brand loyalty over the years. Despite their success, these brands only penetrate around 425 cities in India, leaving ample room for growth in a country with a large and aspirational youth population, noted PL.It further highlighted that local competition is intensifying within the QSR space, as many homegrown brands ambitiously expand nationally, offering burgers and pizzas with unique flavors at competitive prices.

workspace operator India Accelerator has added 250,000 sq ft across 7 centres in Pune, Gurugram and Noida. The company has added 3200 seats in Noida, 900 seats in Gurugram and 400 seats in Pune. With presence in multiple locations, India Accelerator has grown its portfolio to over 200 startups. This expansive network enables startups to benefit from shared knowledge, resources, and collaboration opportunities, driving innovation and success across the board. «This expansion with an investment USD 4 million will enable us to cater to a wider audience of innovators, creators, and entrepreneurs, providing them with the infrastructure and support they need to thrive,” said Abhay Chawla, co-founder and COO, IndiaAccelerator.

Ukraine is set to officially launch membership talks with the European Union later on Tuesday

Vietnamese automaker VinFast has a big problem: It just can’t sell enough cars

Six candidates have been approved by Iran’s theocracy to run in Friday’s presidential election to replace the late President Ebrahim Raisi, who died in a helicopter crash with several other officials in May

Hyundai India IPO: The Indian primary market is on the cusp of a historic event as it will witness the biggest-ever initial public offering (IPO) in the country. According to stock market experts, Hyundai India is offloading around 13 per cent of its stake in the upcoming IPO.

Euro 2024 is gradually heading towards the knock-out Round of 16. So far, Germany, Spain, Portugal, Switzerland, Italy, England, France, Netherlands have qualified from the group stage. While top two teams qualify for round of 16, four third-placed teams will also play in the knock-out stage.

Amara Raja Energy surged 20% to its new all-time high of Rs 1,655.20 after the company announced a strategic technological collaboration with Gotion High-Tech’s subsidiary, GIB EnergyX Slovakia, for the licensing of its LFP technology for lithium-ion cells. This agreement will enable Amara Raja to manufacture world class LFP cells in both cylindrical and prismatic form factors, according to the company’s filing to the stock exchanges.