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PV Subramanyam, CEO, Subramoney.com, says “I would rather put it in a multi-asset fund because a multi-asset fund would have 10% of its money in gold. So at any point in time, they will keep selling equity, buying gold or selling debt, buying gold or maybe selling gold and buying equity. That balancing will be done by the fund house and that is more tax efficient than you being able to do it. If you sell gold, you will pay capital gains tax. If you buy more gold, you will pay GST and things like that but if you let the fund manager sell equity, sell debt and buy gold when it is efficient that makes more sense. So a multi-asset fund with 10% in gold or 15% in gold makes more sense and it is more tax efficient also.” During Diwali time, especially Dhanteras, talk about gold is mandated even as we are dealing with a lot of uncertainties right now. There are geopolitical concerns, concerns over crude oil prices, which way they are going to go and of course slowdown in key economies. How important is gold as an investment class today? Normally you tend to have about 5-10% of your portfolio in gold but gold is not very efficiently taxed.

Wipro may not give hikes to "top performers with higher compensation" as salary revisions are made in December. The move will affect workers in the company's largest business line. Employees will receive their raises on December 1.

Pro-crypto Congressman Tom Emmer has made progress in his efforts to limit the powers of the United States Securities and Exchange Commission (SEC) when it comes to enforcing regulations on digital assets.

MCA) has announced a framework and set of parameters for organisations willing to be a part of an independent Fact-Checking Network (FCN). The FCN’s aim is to “develop self-governing standards and best practices for fact-checking organisations in India'', which will enable any organisation to become “trusted partners in the fight against the weaponisation of misinformation and disinformation”.

Wipro may skip giving hikes to «top performers with higher compensation» in its largest business line in the upcoming round of salary revisions in December, according to an internal memo seen by Reuters. The move comes at a time when India's No.4 software services exporter is dealing with a plethora of problems ranging from weak client spending to tough competition from larger rivals.

InCred Financial Services is set to raise Rs 500 crore ($60 million) in a fresh round of funding from a clutch of investors, including corporate treasuries, global private equity funds, family offices and ultra-high-networth individuals. In a release issued on Thursday, the lending company said that it has already received the full commitment and post the closure of the round, will achieve a valuation of a billion dollars, thereby entering the unicorn club. The release, however, did not name any of the investors.

offshore platforms after the government levied 1% tax deducted at source (TDS) on trading of virtual digital assets (VDAs) with effect from July 2022. The study, by Delhi-based think-tank Esya Centre, found that over Rs 3,50,000 crore was traded by Indians on offshore platforms between July 2022 and July 2023, which is over 90% of total VDAs traded by Indians. This has deprived the exchequer of Rs 3,493 crore of revenue, as against the collected revenue of Rs 258 crore, because of offshore trades that are not TDS compliant. This also means that billions of dollars of capital gains tax will not be collected on these trades conducted offshore.

UPI is not just a payment system, it is a revolution that connects India with the world. This festive season, let us celebrate the power of UPI and the opportunities it brings for us and our loved ones across the globe," said Amit Nigam, Executive Director & COO, BANKIT. Shikhar Aggarwal, Chairman, BLS E-Services listed three ways in which UPI will help customers in this festive season.

Prezzee, the gift card company backed by billionaire Shaun Bonett, has cut about 10 per cent of its workforce, largely in its technology team.

A major Russian bank has created a solution that lets digital ruble holders perform real-time “withdrawal”-type cash conversions at ATMs.

Optus that cut off internet and phone connections to nearly half of its population, causing widespread chaos and leading some small business customers to seek compensation. More than 10 million Australians, 40% of the population, were hit by the 12-hour network blackout at the nation's No. 2 telco firm for much of Wednesday, triggering fury and frustration among customers and raising concerns about the country's telecommunications infrastructure.

Disney CEO Bog Iger has said that the media conglomerate would like to stay in the Indian market even as it is considering options for the Star India business, which is also known as Disney Star. «We'd like to stay in that market. But we're also looking to see whether we can, obviously, strengthen our hand and improve the bottom line,» Iger said in response to a question about the company's India business during the Q4 2023 earnings call. While stating that Disney is considering various options for the India business, which comprises 77 TV channels and one streaming platform, Disney+ Hotstar, Iger added that the company has an opportunity to strengthen its hand in the market. «We're considering our options there.

In November, banks are closed on the occasion of Kannada Rajyothsava/Kut/Karva Chauth, Wangala Festival, Govardhan Pooja/Laxmi Puja (Deepawali)/Diwali, Diwali (Bali Pratipada)/Deepavali/Vikram Samvant New Year Day/Laxmi Puja, Bhaidooj/Chitragupt Jayanti/Laxmi Puja (Deepawali)/Ningol Chakkouba/Bhratridwitiya, Chhath, Seng Kutsnem/Egaas-Bagwaal, Guru Nanak Jayanti/Karthika Purnima/Rahas Purnima and Kanakadasa Jayanthi. Bank holidays in November 2023:Banks closed for up to 15 days in November; check state-wise bank holiday list In total, banks across different states will be closed for 15 days in November to observe numerous festivals and national events. Digital services like UPI, Mobile Banking, and Internet Banking are unaffected by bank holidays, customers can use them throughout. For Diwali and Dhanteras, banks across states will be closed for six days (this includes Sunday and the second Saturday).

Q: At Adobe's Best of SUMMIT event, a crucial concept of how 'Experience Led Growth' is foundational to the success of every business was explored. How does this aspect of digital transformation fit into your company's growth? Manav Sethi: Traditionally OEMs (Original Equipment Manufacturers) have managed dealerships and it's them that manage end customer identities and relationships.

Voters have approved a tax on mansions to pay for affordable housing initiatives in the state capital city of Santa Fe

The German government’s panel of independent economic advisers is forecasting that the country's economy will shrink by 0.4% this year and grow only by a relatively modest 0.7% next year

IPG Mediabrands, the media and marketing arm of the $11 billion American advertising firm Interpublic Group, sees India as the top priority market considering the transformational work happening here for both local and overseas clients, said its global CEO Eileen Kiernan. “The kind of transformation that we’re trying to drive out of India right now, it is our number one priority. India is now our number two talent business in the world, behind the United States,” she told ET. She said the company’s India unit has built a brilliant combination of scale and growth, along with a quality digital and tech talent base. “When we think about our future, we know we can rely on India for ongoing growth, but we see India as an incredibly strategic part of our vision for how we move forward,” said Kiernan. IPG Mediabrands is building a centre of excellence in Pune which will be the hub for serving advertising clients from around the world and will comprise 3,000 professionals in the next three years.

management courses provide the essential skills needed to excel in the ever-evolving world of business. In 2023, India witnessed a notable surge in employability for business administration graduates, rising from 47% in 2021 to almost 60%.

Diwali as meteorological conditions are likely to become slightly favourable. The city's Air Quality Index (AQI) was at 420 at 8 am on Thursday, tad lower than 426 at 4 pm on Wednesday.

Pratik Gupta, CEO & Co-Head, Kotak Institutional Equities, says what the market is liking is the fact that new age tech companies are turning profitable or staying profitable in some cases and the profit margins, EBITDA margins, contribution margins are improving. So that's actually a positive. We think structurally over the next three to five years, this is a good theme. In a couple of cases, unfortunately, these stocks have gone up very sharply. So there could be a near-term pause, but by and large, we are quite constructive on most of the new age companies, the listed ones.” The best could be behind at least for the near term in spaces like defence and railways, which did get pretty frothy about two months back. Yes, I would agree. I think you have got to be a bit careful in those spaces. The stocks have had a very nice run up. They are extrapolating whatever has happened in the last one or two quarters. And that I think is a bit dangerous.

Sunny Agrawal, Head of Fundamental Equity Research, SBI Securities, “for FY23, Mrs Bector’s has reported net sales of around Rs 1,362 crore and net profit of Rs 90 crore. Our estimate suggests that sales are likely to expand from Rs 1,362 crore in FY23 to Rs 1,891 crore, almost Rs 1,900 crore in FY25 and net profit of Rs 90 crore from FY23 to Rs 167 crore in FY25. ” Just going through some of the buy calls that you are issuing out. I just wanted to get a sense of names like Mrs Bectors Food right now. I have picked up this one because you have already seen a massive rally in the stock year to date. How much more of an upside do you think the stock can garner on a 12-month basis? And what makes you so bullish on this story? My price target for Mrs Bectors Food is around Rs 1358. As we all know, Mrs Bectors Food is one of the leading players in the biscuit and bakery category in North India. Their biscuit brand is Cremica and on bakery side, English Oven is the brand which they are riding the rally on.