Cycling Financial News

Macs between April and June on enterprise deals, Mint reported on 3 August. Overall PC sales in India rose 7% year-on-year to 3.39 million units during the period.

Two bouts of flooding in July has hampered businesses and destinations in an economically depressed section of northeastern Vermont, with some still closed as they continue to repair damage and others urging visitors, who were deterred by the weather, ...

edtech firm Byju’s founder, Byju Raveendran, said in an email to his employees that their salaries will be paid promptly as soon as he regains control of the company’s accounts, even if it requires taking on more debt. “When we regain control, your salaries will be paid promptly, even if that means raising more personal debt. This isn't just a promise — it's a commitment. We have investors ready to back our turnaround story,” said Byju Raveendran. On August 14, the Supreme Court stayed the National Company Law Appellate Tribunal’s (NCLAT) order that approved the settlement deal between Think & Learn Pvt Ltd, the parent company of Byju's, and the Board of Control for Cricket in India (BCCI).

Geojit Financial Services announced the launch of its flexi cap portfolio PMS fund, BEACON, offering a unique blend of stability and growth potential by investing across all market capitalizations and thus helping in wealth creation for the investors. The BEACON Fund is engineered to provide investors with seamless exposure to companies of all sizes, from largecap stalwarts to promising midcap and smallcap growth stories. This approach ensures a balanced portfolio that captures the full breadth of market opportunities.

The annual rate of inflation cooled to 2.5 per cent in July, Statistics Canada said Tuesday, the slowest pace for price growth since March 2021.

capacity utilisation, improved profitability of corporates, sustained credit demand, business optimism and government’s thrust on infrastructure development, is likely to increase the pipeline for project finance. An article in the Reserve Bank of India’s (RBI) monthly bulletin estimates that envisaged capex will increase significantly to Rs 2.45 lakh crore in 2024-25 from Rs 1.59 lakh crore in 2023-24. “The significant rise in envisaged capital investment of private corporates, based on the projects sanctioned by banks and financial institutions (FIs) during 2023-24, points to upbeat investment cycle. The total cost of projects sanctioned by banks/FIs increased to a record high of Rs3.90 lakh crore. Infrastructure sector continued to attract the major share of envisaged capital investment, led by ‘roads & bridges’ and ‘power’ sectors, reflecting the government push towards infrastructure development,” said an article from officials of RBI’s Department of Statistics and Information Management. The article said that healthy corporate and bank balance sheets, improved corporate profitability, sustained credit demand, rising capacity utilisation, and optimism in business provide conducive environment for private corporates to undertake investments going forward.

RBI) said in its monthly bulletin on Monday. This trend marks a significant revival in external borrowing, reflecting the evolving dynamics of the domestic credit landscape, it added. It is to be noted that Foreign direct investment (FDI) inflows into India fell to $28.1 billion in 2023 from $49.3 billion in 2022. The country slipped seven notches to rank 15 in the World Investment Ranking, marking a dull 2023.

equity mutual fund folios reached a record 5.4 million in July, according to the data from the Association of Mutual Funds in India (AMFI). This surge was driven by the launch of new sectoral funds, leading to inflows of nearly Rs 10,000 crore. The number of newly added folios in July is almost three times higher than the monthly average of 1.8 million over the past two years. Sectoral funds contributed nearly half of the incremental folios in July with inflows of Rs 9,790 crore. This boost was attributed to the new fund offers (NFOs) of the Edelweiss Business Cycle Fund and the ICICI Prudential Energy Opportunities Fund. A new fund offer by mutual funds often results in a significant increase in the folio count. A single investor may hold multiple folios for different schemes of an asset management company (AMC). An increase in folio count without a corresponding rise in unique investors indicates that existing investors are increasing their equity allocations by subscribing to new fund offers.

Biden addressed an adoring crowd at the Democratic National Convention in Denver, his smile radiating confidence about the country's future and his own journey. The soon-to-be vice president hugged his son Beau. He spoke about how his own parents had endowed him with a sense of grit and tenacity. «Champ, when you get knocked down, get up,» he recalled his father, Joe, saying. Biden then repeated the lesson taught to him by his mother, Catherine Eugenia Finnegan Biden, who was seated in the audience: «Failure at some point in your life is inevitable, but giving up is unforgivable.»

Skywatchers are in for a celestial treat on August 19 as a rare super blue moon graces the night sky. This extraordinary event, one of the brightest and largest moons of 2024, combines the phenomena of a supermoon and a blue moon, making it a unique sight. It's worth noting that sometimes the moon can appear larger due to an optical illusion known as the «moon illusion.» When the moon is near the horizon, it can seem larger because our brains compare it to nearby objects like buildings or trees. When the moon is high in the sky, there are no such reference points, making it appear smaller.

super blue moon." This phenomenon, which combines the characteristics of both a supermoon and a blue moon, is a statistical marvel that aligns two distinct lunar cycles, resulting in a sight that will not be seen again for several years. The occurrence is not only a visual treat but also a fascinating study of astronomical timing and definitions.

Global Compounders fund has outperformed the S&P 500 by a wide margin by keeping limited exposure to megacaps. «This positioning has insulated us from the recent drawdown and volatility. The megacaps, including not only the big tech names but also companies like Eli Lilly and Costco, have been bid up to extremely high valuations due to their certainty around growth and earnings delivery in near term,» says Arindam Mandal, Portfolio Manager at Marcellus Investment Managers.

Sandip Sabharwal, asksandipsabharwal.com, says to identify stocks that have run their course. Sabharwal exited railway stocks, Tata Motors, cut down one or two other holdings, and is holding some cash on the sidelines. He says investors should be 80-85% invested, keep the rest in cash, and wait for opportunities that markets will provide. All stocks do not move in the same cycle. So, some sectors will underperform at some time. It will allow you to buy into them. So, that has to be the strategy now. It does not look like we are going to have a straight-line up-move from here on. We need to time to enter into our opportunities and hold on to them. Piramal Pharma, for three quarters in a row, has been showing improved performance and is almost back to Rs 200, the price before it got demerged from the main company, fell to Rs 60, and then clawed back to almost Rs 182-185. Your view? Sandip Sabharwal: Not specifically. But overall, if you monitor pharma sector results this year. You will see that they have also benefited from low chemical and input prices. So, across the board, the margin improvement in pharma companies and result delivery is much above expectations. It is an industry phenomenon and those tailwinds would remain for some more time.

Triveda Capital, a Sebi-registered alternative investment fund (AIF) which aims to raise ₹250 crore, has reached a first-close of ₹80 crore, said Ravindra Pai, managing director of Century Real Estate Holdings and partner at the newly launched fund. The investment was led by Ranjan Pai, chairman of the Manipal Education and Medical Group. The maiden fund targets an asset under management of $1 billion over the next five years. Of the total fund size, Century Real Estate Holdings' family office has committed 15%. «We have identified the first investment of a 30-acre plotted development project near the airport. We will invest in in-house under-construction and third-party plotted development projects,» said Ravindra Pai. Triveda Capital is raising a ₹200-crore AIF fund to invest in plotted development projects, with a ₹50 crore green shoe option.

There’s panic among holders of Ethereum native $ETH token as the $310 billion market cap coin, the second largest cryptocurrency behind Bitcoin ($BTC) posts greater overnight and over-the-fortnight losses than its fearsome rival.

Harvey Hunter is a Junior Content Creator at Cryptonews.com. With a background in Computer Science, IT, and Mathematics, he seamlessly transitioned from tech geek to crypto journalist.

“Allocate new money to a multi-asset allocation strategy or an equity savings fund with lower equity allocations,” says Sahil Kapoor, Head of Products & Market Strategist, DSP Mutual Fund. In an interview with ETMarkets, Kapoor said: “Retail investors should prioritize building a well-rounded portfolio that includes both equity and debt, aligning their investments with their financial goals rather than chasing short-term market trends” Edited excerpts: The market touched record highs post-budget, followed by a slight dip triggered by global cues. However, the Indian market managed to bounce back, which seems to be due to core economic strength. What are your views on this, especially considering the recent Hindenburg drama? Sahil Kapoor: Over the last two to three months, the rate of ascent in the market has been slowing down. The market is now spending more time reaching higher highs than it was earlier, indicating a shift in momentum towards consolidation.

Apparently more and more financial advisors are turning up the juice.

Japan’s economy grew at an annual rate of 3.1% last quarter, rebounding from the contraction in the previous quarter

Canadians are managing to keep up with their mortgage payments in the face of higher interest rates, but a new Statistics Canada analysis suggests there are cracks forming on other kinds of debt.

reported HT Auto.As per the publication, the Thar Roxx is priced starting at ₹12.99 lakh for the entry-level petrol manual variant and ₹13.99 lakh for the base diesel manual model, with all prices reflecting ex-showroom costs. This new model aims to build on the impressive success of the Thar’s original three-door version.Reportedly, this SUV maintains the fundamental design ethos of the Thar lineup but introduces several unique features.