Cycling Financial News

bromance brewing in politics? The brotherly bonding between Tamil Nadu Chief Minister MK Stalin and Congress supremo Rahul Gandhi has won hearts across the Internet. Stalin, who is currently in the United States to attract investments for Tamil Nadu, recently shared a clip of him cycling through the streets of Chicago on his X handle. The tranquil setting, along with Stalin's caption, «Evening’s calm sets the stage for new dreams,» captured widespread interest, including that of Rahul Gandhi. Reacting to the serene video, Gandhi wrote, «Brother, when are we cycling together in Chennai?». Stalin was quick to return the sentiment and invited Gandhi for a ride and a meal at his home, “Dear brother @RahulGandhi, whenever you’re free, let’s ride and explore the heart of Chennai together! A box of sweets is still pending from my side. After our cycling, let’s enjoy a delicious South Indian lunch with sweets at my home.”

The Bank of Canada lowered its key interest rate by 25 basis points on Wednesday and opened the door to bigger cuts if the economy slows more sharply in the months ahead.

Rishabh Pant's red-ball return will be closely monitored but the national selectors will also trace suitable backup options to frontline stars when Duleep Trophy, which preludes an important Test season, begins across Bengaluru and Anantapur on Thursday. Pant, who returned to white-ball formats after that horrific car crash, is yet to play in a longer-duration match. His last red-ball outing was against Bangladesh in December 2022. Now, he will turn out for Abhimanyu Easwaran-led Team B against Shubman Gill-captained Team A at the Chinnaswamy Stadium. Satisfying his outings in the shorter versions were, but this four-day tournament offers him a unique challenge — batting and 'keeping for an undefined number of overs.

Rajasthan's Education Minister, Madan Dilawar, made headlines by announcing that the bicycles distributed to schoolgirls will switch from black to saffron. Dilawar explained that there’s no special reason behind changing the colour of the bicycles. However, he pointed out that during the previous BJP government in Rajasthan, the bicycles were saffron. When the Congress came to power, they changed the colour to black. Dilawar emphasised that saffron is a symbol of valour and bravery, recalling that patriots wore this colour during India’s independence movement. «With this thought in mind, we have decided to change the colour to saffron,» he said. The free bicycle scheme in Rajasthan started in 2009 to help girls stay in school, as many drop out in Class 9 due to transportation issues. Over 7 lakh girls are eligible for these bicycles, and the government also provides a travel allowance to those living within three to five kilometres of their school.

Bangladesh made history by defeating Pakistan by 6 wickets in the second Test of the two-match series, securing a remarkable 2-0 series whitewash. This victory has dramatically reshaped the World Test Championship (WTC) 2023-25 points table, further diminishing Pakistan's chances of reaching the final at Lord's in June 2025. With this series loss, Pakistan has plummeted to 8th place in the WTC standings, just above the last-placed West Indies. Pakistan's disappointing performance in the current WTC cycle has seen them win only two of their seven Test matches, leaving them with 16 points—the fewest among all nine teams—and a PCT of just 19.05. Bangladesh's triumph has propelled them to 4th place in the WTC table. With three wins and three losses, they have accumulated 33 points and a PCT of 45.83. Prior to this series, Bangladesh was in 6th place but has climbed two spots due to their impressive performance against Pakistan.

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The Bank of Canada is widely expected to continue cutting its benchmark interest rate tomorrow and at meetings to come, but how quickly the rate comes down is open to debate.

Atlas Cycles, Salil Kapoor, has allegedly committed suicide at his home in Lutyens Delhi on Tuesday. Police officials reported that Kapoor's body was discovered around 1 pm near the puja room of his house on Dr A P J Abdul Kalam Road by his manager with a gunshot wound. A note recovered at the scene mentioned a «financial burden» as the reason for his actions. According to police, Kapoor shot himself in the head using a licensed revolver. His family, including his wife and three children, were staying separately at the time. Kapoor's manager and his family lived with him in the three-storey building. «Kapoor was immediately rushed to a hospital where doctors declared him dead,» said a police officer.

The Bank of Canada is widely expected to deliver a third consecutive interest rate cut on Wednesday as inflationary forces continue to cool on both sides of the Canada-United States border.

«We are moving some part of the money from smallcap, midcaps into the largecaps, turning a bit more defensive from a near-term perspective. I personally believe that the economic growth driven by investment cycle is very much on a strong footing,» says Mahesh Nandurkar, Jefferies. What is your view on the market and what exactly are you communicating to your clients after the Union Budget and ahead of US elections? Mahesh Nandurkar: So, what we have been communicating to investors and what has been our strategy is that over the last couple of months we have toned down the risk or the beta factor in our portfolios.

₹3400 crore in March 2019. It’s around ₹42,200 crore - Book value was ₹1.08 trillion. It’s ₹2.53 trillion at June quarter end.

equity indices closed at fresh all-time highs on Monday, extending their recent record-breaking run but gains were modest as traders see risks to the market at these levels. Nifty gained 0.2%, or 42.8 points, from the previous day's close to close at 25,278. Sensex rose 194 points and closed at 82,559.

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Franklin Templeton Mutual Fund has announced the launch of Franklin India Medium to Long Duration Fund, an open-ended medium-term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 4 and 7 years with relatively high interest rate risk and relatively moderate credit risk. The new fund offer or NFO will open for subscription on September 3 and close on September 17. The scheme will reopen for continuous sale and repurchase on September 26. The scheme will be benchmarked against CRISIL Medium to Long Duration Debt A-III Index and will be managed by Chandni Gupta and Anuj Tagra.

Fed rate cut and the US presidential election, global brokerage firm Bernstein has booked profits in Adani Ports, Bharti Airtel and Axis Bank while maintaining large, stable stocks such as REC, SBI Life and D-Mart in its India Model Portfolio’s August update. This year, unexpected election outcomes partly materialized, and concerns about a recession also surfaced, though only to some extent and the markets experienced significant downturns at regular intervals, but thanks to strong domestic institutional investor (DII) inflows and robust retail participation, the Nifty benchmark index has risen by 15% year-to-date.

«We do not see any major upheaval in either direction negative or positive in the second half. Earnings are probably the most stable we have seen in the last two or three years,» says Seshadri Sen, Emkay Global Financial Services. Well, I am just going through your latest note and it seems like you have raised your target for the Nifty all the way to 26,000 now for September 25. Earlier it was close to 22,000 for June 25. Is it just the market momentum that has made you change it because we are very close to that mark already or do you see a further uptick in the fundamentals versus what you anticipated earlier? Seshadri Sen: No, the primary driver is that there were a few speed bumps that we were anticipating in the first half and those played out. The market through those speed bumps quite strongly. But we are looking at a much smoother ride in the second half in terms of fundamentals which is why we raised our multiple and that cascaded into a raised Nifty target.

markets got off to a quiet start on Monday as investors braced for a data-packed week culminating in a U.S. jobs report that could decide whether a rate cut expected this month will be regular or super-sized. A holiday in the United States and Canada made for thin liquidity, while wins for far-right parties in German state elections added a fresh layer of political uncertainty.

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Fed is no longer cryptic about its stance on rate action. In its Jackson Hole speech, it clearly signaled its intent to start cutting rates, potentially beginning with the September policy meeting. The bond markets and the US dollar index have reacted accordingly. The US 10-year yield has softened, and the dollar index has sharply dropped to a seven-month low, approaching the 100 level. In light of such a dynamic shift, one would expect a corresponding impact on Indian G-sec yields. Contrary to these expectations, the Indian 10-year yield has remained steady, showing no signs of softening. This reluctance can be attributed to the fact that the RBI will have limited room to adjust its monetary stance, despite the potential leeway from the US Fed's policy shift. The key to understanding this lies in India’s unique inflation dynamics. Let’s explore this further.

markets may experience a period of volatility in the coming week, largely driven by global and domestic factors. According to the experts, the US Fed is expected to start its rate cut cycle in September, and historically, rate cut cycles in the US market have not been favourable for their equity markets.