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₹24.95 crore of Pawan Munjal, CMD of Hero MotoCorp, in Delhi. The probe agency attached three immovable properties located in the national capital under the provisions of the Prevention of Money Laundering Act, 2002 belonging to Munjal. According to a press statement by the anti-money laundering agency, ED officials initiated the investigation on the basis of a "Prosecution Complaint filed by Directorate of Revenue Intelligence (DRI) u/s 135 of the Customs Act, 1962 against P K Munjal, Chairman and CMD of M/s Hero Motocorp and others for taking foreign exchange/currency out of India illegally".

Pawan Parakh, Portfolio Manager, Renaissance Investment, says “focussed more on pharma companies with US exposure as of now. Across the board, the data is very loud and clear that there is some sort of shortage in the US. The pricing erosion is no longer there. In fact, some of the companies anecdotally have got clearances for their factories. The cycle, which was not in favour of these companies for the last so many quarters and years, seems to be turning in their favour. There is this whole debate about whether the small and midcaps are now getting frothy, whether the next lap of the move is going to come in from the largecaps. Do you now need to turn cautious when it comes to the broader end of the market? What's your take? I completely agree with that argument. In fact, when I was there last time on your channel, I did highlight that. I could see a lot of froth in low-quality midcap, smallcap stocks given the rally that has happened over the last four, five months. And if you take slightly longer periods, say about a year or so, at the index level, while companies have reported decent sets of numbers, at the index level, the Nifty Index has not delivered anything. So very clearly, there is some sort of froth getting built up into midcap, smallcap names. One has to be really cautious about it at this point in time.

gold allocation has benefited investors. With returns on gold mutual funds as of October-end close to 20% y-o-y, many of us might have missed the gold rally. But don’t let that dampen the Diwali spirit. Prospects for gold are looking good in the long term, giving you more reason than just the festivities to invest in the precious metal. International gold prices bottomed out in October last year and started moving up slowly over the next six months as the Federal Reserve became less aggressive with its rate hikes. Prices moved up sharply in March 2023 as a regional banking crisis erupted in the US and drove risk assets down. Risk aversion and expectations of Fed cutting rates in response to the crisis were the drivers. But the crisis did not spread to other parts of the economy and gold cooled off in the subsequent months. Meanwhile, inflation remained more than double the Fed's 2% target and US economic indicators were showing resilience, meaning there was more requirement and more room to hike rates. Fed began indicating a hawkish stance again. US yields and US dollar moved up and gold moved lower till September.

Vipul Shah, Chairman, Gem & Jewellery Exports Promotion Council (GJEPC). In an interaction with ET Digital, Shah says he is upbeat about the prospects of the gems & jewellery sector as the industry expects the ongoing festive month to give a sharp surge in demand.

Manish Chokhani, Director, Enam Holdings, says “I am not a believer that you make everyone poorer and distribute the poverty. You have to make everyone richer and pull them up. I am hopeful this happens and everything is back on balance. I have no axe to grind, I have no products to sell, no brokerage to run, no mutual fund to sell and I have invested myself. I really think the next 20 years is really India's period, it is for us to lose.” You have said that when India's market cap was not even a trillion dollars, five corporate houses would be building the next couple of trillion dollars for us and that time you were vocal about Reliance. BATAJ. Yes. We called it.

BlackRock Inc. is looking to launch an exchange-traded fund that would be centered on Ether, helping to spur a rally in the second-largest cryptocurrency. Nasdaq, the exchange that BlackRock is working with on the ETF, on Thursday submitted what’s known as a 19b-4 form, marking the next step in the process to get such a fund launched. The Wall Street behemoth had earlier registered paperwork in Delaware for the fund, according to documents posted to the Delaware Department of State Division of Corporations website. The move marks BlackRock’s second major foray into crypto-centric ETFs after it filed for a Bitcoin spot fund in June. That application helped spur a rally for digital assets and lured other issuers into getting into the race. The price of Ether rose as much as 11% on Thursday, crossing above $2,000 and hitting the highest level since April, data compiled by Bloomberg show. VanEck, Invesco, 21Shares and others have filings for spot-Ether ETFs as well.

Sandip Sabharwal, asksandipsabharwal.com, says 2024 will be a year of good double-digit gains in the market. 2023 was expected to be a bit dicey in a way because of the rate hike cycle and the impact that it will have on valuations, etc, market selloffs and whether it can create some disruptions. In my view, the time to be worried about higher interest rates is not now, it was earlier. Now we need to look forward and see what will happen as interest rates eventually start coming down.” While nothing is really happening in the market for the last two days, how do you think the year ahead is going to look like? The year ahead will be very good. I believe 2024 will be a year of good double-digit gains in the market. 2023 was expected to be a bit dicey in a way because of the rate hike cycle and the impact that it will have on valuations, etc, market selloffs and whether it can create some disruptions. I believe that a lot of people are now worried about higher interest rates. In my view, the time to be worried about higher interest rates is not now, it was earlier. Now we need to look forward and see what will happen as interest rates are already high and then eventually they will start coming down and what that does to market valuation and overall economic outlook and both of them which are positive.

“Despite robust macro and healthy earnings trajectory India cannot stay fully immune to global factors,” says Kedar Kadam, Director — Listed Investments, Waterfield Advisors. In an interview with ETMarkets, Kadam said: “In our view, one should stay put and use the market declines to add more in a staggered manner from a 3-4 years perspective” Edited excerpts: We have seen some correction from the highs in both Sensex and Nifty. What is fueling the fall – is it the combination of rise in US Yields and geopolitical concerns? I reiterate my earlier stance, despite robust macro and healthy earnings trajectory India cannot stay fully immune to global factors.

Actors secured these new safeguards as part of a deal announced late on Wednesday, according to Duncan Crabtree-Ireland, chief negotiator for the SAG-AFTRA actors union. Under the three-year contract, actors «have this right of consent, and the right to fair compensation anytime some sort of digital replica or replacement of them is used,» Crabtree-Ireland told Reuters. The proposed agreement sets a minimum compensation level for AI uses, Crabtree-Ireland said. Actors also are free to negotiate higher payments.

By Rae Wee

Diwali 2023 Stock Picks: TheIndian domestic equity market reached all-time highs in 2023 and ended Samvat 2079 on a strong note. Frontline index Nifty 50 breached the 20,000 mark and 20,000 mark gained 10 per cent in this period, while broader indices Nifty mid- and smallcap outperformed with gains of 30 per cent and 36 per cent, respectively. Going ahead, for Samvat 2080, the global geopolitical situation will remain grim as the Israel-Palestine war has added to the already crippled global order due to the Russia-Ukraine war.

Hologic (NASDAQ:HOLX) shares rose more than 2% after-hours following the company’s reported Q4 results, with EPS of $0.89 coming in better than the consensus estimate of $0.84. Revenue decreased 0.8% year-over-year to $945.3 million, beating the consensus estimate of $940.03M.

By Suzanne McGee

Apple might end up on the hook after all for billions of euros in back taxes to Ireland in the latest twist in a longrunning European Union dispute

Bitcoin rose to an 18-month high as expectations of an approval for exchange traded funds to invest in the largest crypto token intensified.

Living life at least partly online is a fact of modern living, but while the youngest Americans are typically tech-savvy with high levels of digital literacy, the oldest cohort is more vulnerable to cybercrimes.

Popular crypto-friendly investment firm ARK Invest has significantly increased its stakes in the commission-free investing app Robinhood.

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

Cryptocurrency adoption is experiencing a significant surge in South and Central Asia, driven by the emergence of real-world use cases, according to blockchain intelligence firm Chainalysis.

Recent data from blockchain security firm CertiK has revealed a noteworthy slowdown in the creation of new cryptocurrencies, with the pace now reaching its slowest in three years.

By Dietrich Knauth