Digital Financial News

Strong rally in the broader market in the recent months has brought valuations closer to historical highs in a few pockets, but Samco Mutual Fund believes there is more steam left in this momentum. “Thinking from the perspective of a momentum or relative strength investing, we see a lot of strength in the small and mid-cap space. One should hold on to them till the party is going on, but with much more caution and tighter stops,” said Viraj Gandhi, CEO of Samco Mutual Fund. Edited excerpts: The latest AMFI data showed that the pace of inflows has slowed down in midcap and small-cap funds. Is this a sign of fatigue? The pace is still intact in the midcap funds as in September, it was the second highest in the last 12 months. Small-cap funds also saw a decent inflow of about Rs 2,700 crore.

Mayuresh Joshi, Head-Equity Research — India, William O Neil, says “as prices recover on the LME with China demand expected to come back in the next financial year, even the top-line growth in terms of realisations for a lot of ferrous players will continue to gain traction in the next year and a half as well. So domestic steel companies like JSW Steel can continue. Who would have thought a steel company in the last 10 years would have given you a 9x return? Domestic steel companies are still holding out. The expectations that are now coming off is that a large part of the capex is largely behind us. I think some part of the capex is going to get carried forward in this financial year and the first half of the next. But the bulk of that capex is probably behind us.

Alibaba Group said it will be offering huge discounts as it gears up for its annual Singles Day shopping extravaganza — an indication that Chinese consumer confidence remains at a low ebb. The event — which begins on Tuesday and despite its name now stretches over several weeks — will offer over 80 million products at their lowest prices this year, it said in a statement.

Rahul Shyam Shukla, Head — Commercial & Rural, HDFC Bank, says “agricultural lending is a higher NPA segment because it goes through weather pattern considerations, hailstorms, rains, less rains, more rains, floods, etc. If you are maintaining a GNPA somewhere between 4% and 5% and you have priced it correctly, then you are all right.” On Guidance for Commercial & Rural The guidance we always give is that, look, you should expect 25 to 30% growth rate.

“We expect nominal GDP growth of 10% to 11% in the next 12 months, which should be in line with 11% to 13% return for large cap indices,” says Pradeep Gupta, Co-founder & Vice-Chairman, Anand Rathi Group. In an interview with ETMarkets, Gupta said: “Market timing and the selection of specific instruments within an asset class explain only about 10% of portfolio return variability” Edited excerpts: October is turning out to be a roller coaster ride for investors in equity markets. Will geopolitical concerns have a long-term impact on equity markets if things escalate? Major indices across the globe witnessed sharp volatility in the past couple of weeks due to the rising Israel-Palestine war. In the same week, we witnessed the U.S. stock-index futures fall over 0.5%, Nifty was down ~140 bps pts.

growth in net profit helped by a low base in the year-ago period and a stellar performance by banking and finance companies, offsetting a muted show by software exporters. For a sample of 219 companies, aggregate net profit grew 29.8% year-on-year in the September quarter, the most in six quarters.

lending industry is betting big on a quick rebound in business, as consumers prepare to loosen their purse strings and merchants stock up to meet the additional demand. While the December quarter historically sees consumer-facing businesses making the most of it, this year the fintech lending industry is on a much stronger footing to meet the heightened credit demand. ET wrote on August 4 how fintech lenders reported stronger and profitable balance sheets for the last fiscal year.

Infosys Technologies Ltd., India’s second-largest IT services company, is likely to report its slowest growth ever based on the current guidance of 1-2.5%, data sourced from brokerage firm BNP Paribas shows.

The rapid evolution of the crypto landscape has recently taken another exciting turn, as gaming giant Roblox has expanded its payment options by integrating Ripple (XRP). While this significant partnership hints at the increasing mainstream acceptance of top crypto coins, two other top altcoins – Klaytn (KLAY) and InQubeta (QUBE) are garnering significant traction in the crypto community.

Mint explains. Food production in 2022-23 is estimated at a record 329.7 million tonnes, about 4.5% higher than the year before, according to the agriculture ministry. While production of major cereals like rice and wheat rose by 4.9% and 2.6%, production of coarse grains was up a sharp 12%.

Bank of Baroda (BoB), banning it from onboarding new customers on its digital application, has forced other lenders to relook at their digitisation processes, plug loopholes, and monitor employees to prevent any untoward incidents. While the central bank has not yet sent any specific queries or sought new disclosures from other banks, bankers expect that the RBI will henceforth scrutinise digital data more closely and not take anything at face value. «So far the RBI used to take updates and data on the progress of digital channels from banks at face value, but going forward we expect more scrutiny and comments from the RBI on this,» the digital head of a private sector bank said. On October 10, the RBI banned BoB from onboarding any new customers onto its 'bob World' mobile application with immediate effect based on what it said were certain material supervisory concerns observed in the manner of taking on customers by the bank. Bankers said the regulator's action has sent a strong message that cannot be ignored.

WASHINGTON—Big energy producers are sparring over billions of dollars in subsidies from last year’s climate law, a fight that pits the Biden administration’s goals for economic growth against its efforts to reduce greenhouse-gas emissions. The battle is over subsidies to produce clean hydrogen, a potential alternative to oil and natural gas in industries such as steelmaking and trucking where renewable energy and batteries alone aren’t adequate.

Say goodbye to compromising on quality and hello to a healthier, fitter you. With the top-rated cross trainers, you'll experience workouts like never before, minimizing the risk of injury and maximizing your progress. Don't wait any longer; invest in the best and redefine your fitness goals today.

Tata Motors is working on developing a new petrol powertrain for its premium sports utility vehicles, the Harrier and Safari. Currently, these models are equipped with a 2-litre diesel engine.

(Corrects to add dropped word 'the' in paragraph 1)

Digital transformation and development of advanced technologies are progressing at full pace in India but cyber experts have expressed concern about the security of the sheer size of data that the country will have to manage, given its neighbouring adversaries as well as the growing sophistication of scammers. Indian technologists and business executives will have to collaborate, cooperate and create a comprehensive ecosystem to tackle tech-driven threats, the experts said on the sidelines of Singapore Cyber Week — 2023 held from October 17-19.

Bitcoin, the pioneering digital asset, has once again captured global attention as it surges past the formidable $30,000 resistance level. A colossal inflow of $10 billion has catalyzed this rally, signifying renewed confidence from institutional and retail investors alike. 

CEAT Ltd MD & CEO Arnab Banerjee. With crude prices rising again after the recent geopolitical disturbance, there is uncertainty over crude-based raw material costs and if prices increase it could be a dampener to future growth. «The two-wheeler replacement market is growing year-on-year in strong single digits, which is much much different from quarter one.

Cryptocurrency advocacy group DeFi Education Fund (DEF) has urged a United States court to consider the unique aspects of blockchain technology when evaluating the privacy rights of cryptocurrency users under the Fourth Amendment.

Cryptocurrencies have been a hotbed of innovation and volatility, with prices that can skyrocket or plummet in a matter of hours. Yet, the question remains: how do these digital assets correlate with the broader macroeconomic factors that influence global financial markets? The Intersection of Cryptocurrency and Macroeconomics Cryptocurrencies, including the most well-known Bitcoin being a form of 'digital gold' and a hedge against traditional financial instruments. This view has fueled the perception that crypto markets might be inversely correlated with macroeconomic factors. However, the reality is more complex. Risk-on vs. Risk-off Behavior: Cryptocurrencies have displayed both risk-on and risk-off behavior, depending on market sentiment. During periods of economic uncertainty, cryptocurrencies like Bitcoin have been seen as safe-haven assets, much like gold. But during times of economic prosperity, they can behave more like risk assets, reflecting investor appetite for high returns. Inflation Hedge: A macroeconomic factor closely tied to cryptocurrencies is inflation. The finite supply of cryptocurrencies like Bitcoin and the belief that they can serve as a hedge against fiat currency devaluation have led to increased investment during times of rising inflation.

Roblox offers a wide array of games, and among the standout titles is "Build to Survive." This game presents players with the challenge of constructing their own structures and enduring a variety of survival challenges. Before you dive into the game, it's essential to understand how to play, what the key components are, and why it's such an exhilarating experience. Getting Started To access Build to Survive, you can do so freely on the Roblox platform. If you're new to Roblox, the first step is to create an account.