Cycling Financial News

The Bank of Canada cut its benchmark interest rate by a quarter of a percentage point on Wednesday, the second straight reduction in the central bank’s easing cycle.

«I think all in all many positives in this budget and over a period of time certainly as these schemes get implemented, it is going to provide further impetus to the economy,» says Sanjiv Puri, President CII & CMD, ITC. If you have to rate the budget on a scale of one to five, how would you rate the budget? Sanjiv Puri: Well, I do not have a framework for that kind of rating, but I would say the budget is commendable because not only has it addressed these investments required for inclusive growth, it has also got a holistic approach to the climate change, issues of energy transition, issues of certain natural resources like water, etc, are being addressed and it is ahead as far as the guidance on fiscal consolidation glide path was concerned.

Hurricane Beryl created mayhem earlier in July and now tropical storm and hurricane development is expected in the first half of August.

«So, my view is that if the budget disappoints and I think the only way it can disappoint is if they do not give relaxation on personal taxation and those have to be significant,» says Sandip Sabharwal, asksandipsabharwal.com. What is the anticipation? I know no correction is anything to worry because if election outcome is anything to go by, it will be lapped up in no time. Sandip Sabharwal: So, one is the liquidity story which is the domestic liquidity gushing around. The second is the overall valuations, like Nikunj was saying, like at market cap to GDP of 155% at valuations which are much higher than historical valuations, we need the budget to deliver actually for the markets to move higher. So, my view is that if the budget disappoints and I think the only way it can disappoint is if they do not give relaxation on personal taxation and those have to be significant.

Market veteran Madhu Kela remains very positive on transformers as an industry in the medium to long run. These are very deep cycles – the downturns as well as the upturns. A new cycle has started and he expects this to last at least 5-10 years and within that, there are select companies that will continue to do well. Kela is also bullish on data centres as a play. With this privacy law and the data being retained here, data centre as a play and anything peripheral around the data centres will do well. Let us talk about two areas, over the weekend, one transformer company came out with results. You had some exposure in there. Has the transformer story played out because these stocks have become eight to nine times in the last one year? Also, what about data centres? Now big developments are coming in the cloud and some of these companies are tying up with Google, etc. You have exposure in those areas as well. Madhu Kela: So, data centre, we made a significant investment in one data centre company which was a private company. So, I am very bullish. With this privacy law and the data being retained here and the amount of data that we are generating today, data centre as a play and anything peripheral around the data centres will do well.

«Some of the companies will be absorbed by the bigger players, so to your question who will be the winner here, I think that one should stick with the larger companies, the more efficiently managed companies and companies with a franchise, with a brand which the consumer appreciates and looks forward to staying in, I think that that is the space which is going to benefit going forward,» says Anshul Saigal, Founder, Saigal Capital. After what seemed like an inline Q1, because of the monsoon quarter perhaps which is going to flow through in Q2, who do you think is going to win the battle and whether or not you think hotel industry has a prosperous rest of FY25 ahead of them? Anshul Saigal: So, if you go back to the 2003-2007 cycle you look at where rates went around the time of 2007-2008, we are still scraping only the surface in hotel tariffs at this moment. Even though occupancy is high, hotel tariffs are also up, but in comparison to where they were in that phase, we are nowhere close.

Karnataka Government to amend a labour law to extend the working hours in the tech services companies by up to 14 hours, during exigencies, has come under resistance, putting the government on the backfoot.

Taarak Mehta Ka Ooltah Chasma’ star Gurucharan Singh, who created quite a furor by going missing for 25 days earlier this year, finally spilled the beans on the mystery behind his disappearance.

Hiren Ved, Director & CIO, Alchemy Capital, says every bull market sees sector rotation. So, financial will have their time under the sun at some point in time. But am I very bullish on largecap private banks leading this bull market? The answer is no. I think they were leaders of the previous bull market and people have kept on harping that this is an area that is cheap and there is value but it has continued to underperform. Very seldom do leaders of the previous cycle lead in the next cycle. One feels FOMO about booking profits, but then the markets rally further and you feel that you have taken off money too early? How do you marry the two dichotomies? Do you stay put or book something off the table? Hiren Ved: Booking profits and then doing what with that money?

Mutual Fund. Meanwhile, investors in struggling funds have voted with their feet. In the large-cap segment, just two funds accounted for 75% of the outflows.

health insurance coverage for their employees to include extended benefits for household help, parents and parents-in-law, and are encouraging employees to set aside 10% of their annual objectives towards health goals, which in turn will impact their variable pay and bonus. The move is designed to ensure that health benefits are not just a ‘feel-good’ mechanism but are also designed to help curb employee attrition and measure performance.

40 Under Forty. The panel, moderated by Amit Jain, managing director Carlyle India Advisors, and comprising past and current A-listers of the ET 40 Under Forty, laid threadbare the fundamental tenets of leadership and how it is evolving in a volatile and disruptive world while ensuring generational diversity.

population dynamics, potentially leading to an ageing crisis, Dr Ajay Murdia, the man behind India's one of the largest fertility chain, Indira IVF, has said. Talking to PTI ahead of the World IVF Day on July 25, Dr Murdia said that India stands at a critical crossroads, facing an unprecedented infertility crisis that threatens not only millions of families but the country's future demographic balance. «According to some estimates, about 27.5 million married couples are actively trying to conceive and are suffering from infertility. But only about 275,000 IVF cycles are performed every year,» he said. «This silent epidemic, affecting one in six couples, is rapidly evolving into a national emergency with far-reaching consequences for India's societal structure and economic prospects,» Murdia, Founder and Chairman of Indira IVF, said.

Usha Vance, stood to become a vice-presidential spouse. That cemented a remarkable reality: At the moment, a woman of Indian descent will either serve another term in the White House or be the second lady. It was the latest milestone for an Indian American community that has emerged as a political powerhouse over the past decade. Kamala Harris in 2021 became the first person of Indian descent, as well as the first woman and Black person, to be vice president. The 2024 presidential cycle is the first one to have featured two Indian American candidates in Nikki Haley and Vivek Ramaswamy.

Andhra Pradesh demands Rs 15,000 crore for its new capital Amaravati, can’t Chhattisgarh make a similar pitch? The Chhattisgarh government has appealed to the 16th Finance Commission for a special grant of Rs 4,131 crore to bolster its new capital, Nava Raipur Atal Nagar. When FC chairman Arvind Panagariya and his team visited Raipur earlier this month, the state presented a 10-point proposal encompassing infrastructure development such as new roads, cycle tracks, indoor stadium and a substantial IT building spanning 100,000 sq m. “If the Government of India gives a special financial grant for Amaravati in the forthcoming budget, we should also receive the same,” says Chhattisgarh Finance Minister OP Choudhary, while speaking to ET over the phone. “Nava Raipur, in fact, deserves more, as Chhattisgarh has already invested Rs 8,000 crore from the state coffer.” He adds that the state is exploring various financial instruments to raise funds, including a `1,000 crore Nava Raipur bond, and leveraging a 6,000 acre land bank to attract private sector investment. Nava Raipur Atal Nagar—previously known as Naya Raipur (“Nava” means new in the Chhattisgarhi dialect)—is set to expand from its initial expanse of 80 sq km to 237 sq km. The new city is located 20 km southeast of Raipur. Of late, state officials have been courting private investors across sectors such as IT (with plug-and-play facilities), pharmaceuticals, electronics, logistics and defence.

Amazon Prime Day sale is here: Check out the best Prime Day deals on electronics, home appliances, and moreAvailable at a discount on Amazon, the LG 7 Kg front-load washing machine boasts a 5-star energy rating and innovative 6 Motion Direct Drive technology for efficient and gentle cleaning. The steam wash feature eliminates allergens, while the Smart Diagnosis function simplifies troubleshooting.

Tube Investments of India Ltd. dropped 2.07 per cent to Rs 4002.55 at 01:19PM (IST) in Friday's trade. The counter hit a high of Rs 4149.95 and low of Rs 3983.0 so far during the session. The stock had closed at Rs 4087.5 in the previous session. The counter had a total traded volume of 01:19PM shares so far with a turnover of Rs 0.98 crore on BSE. The stock traded at a price-to-earnings multiple of 64.47 and a price-to-book ratio of 14.15.

tax refund is the money by the Income Tax Department when the taxpayer has paid more taxes than they actually owe, which may happen through various means such as Advance Tax, TDS (Tax Deducted at Source), TCS (Tax Collected at Source), or Self-Assessment Tax. For individuals who have filed their income tax return (ITR) and are expecting a refund, it is important to have a comprehensive understanding of the process. Despite filing ITR successfully tax refund may not be credited into your bank account due to this issue When the income tax department assesses a taxpayer's tax liability, they meticulously consider all applicable deductions and exemptions before arriving at the final tax calculation. This ensures a fair and accurate assessment of the taxpayer's obligations, preventing them from overpaying their taxes.

Dogecoin price movements have sparked interest in its future potential, with many analysts providing optimistic Dogecoin price predictions.

Anand Mahindra, the Chairman of the Mahindra Group, recently lauded the creative ingenuity of Sudhir Bhave, an elderly engineer from Gujarat known for his unique cycle designs. In a heartfelt post on X, Mahindra not only praised Bhave's «irrepressible creativity and energy» but also offered him access to the Mahindra workshop in Vadodara for his experiments.

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