Digital Financial News

Anshu Kapoor, President & Head, Nuvama Asset Management, says there are two drivers. The number one driver itself is the humongous pool of savings now available to the markets today. So, Indians save about $750 billion a year, that is Rs 60 lakh crore every year. A part of that savings obviously gets channelized into equity markets and other risky assets as we call them. But as wealth increases, demand for alternative avenues also increases and customers are asking why cannot we also access the next best unlisted companies of India? Why can’t we access commercial real estate or infrastructure assets? Emerging or evolving awareness about these products and asset classes is a big driver.”We have been seeing good flows in PMS and mutual funds from tier II, tier III cities and towns. But now we are seeing equally high interest in alternatives as well. What is driving this much more renewed awareness of investors from tier II, tier III cities and towns vis-a-vis financial assets?It is an interesting development that all of us are taking note of and I must say that the whole asset management industry is in a structural bull run.

Huawei Technologies has triggered an international guessing game over what is inside it. The company, which has been heavily targeted by U.S. government restrictions, began selling its latest Mate 60 Pro for 6,999 yuan ($964) online on Tuesday, raising eyebrows over its decision not to do any prior advertising and prompting widespread speculation over whether it could be 5G capable.

jugaad solution is making waves on social media. It has even caught the attention of Union Minister Ashwini Vaishnaw. The video of the woman was shared on the Instagram page of Maharashtra farmer and has garnered 1.5 million likes.

Climate change adaptation and mitigation efforts can benefit immensely from robust intervention. The Gross Domestic Climate Change Risks 2023 report, published by the Cross Dependency Initiative, an organisation that focuses on climate risk analyses, has found that nine Indian states rank among the world’s top 50 at-risk states and provinces. Despite the pace and scale of the crisis, India has been slow to respond.

The study conducted a gender comparison looking at 50 leading crypto and blockchain companies and comparing the influence of their CEOs and the gender disparity in leadership positions.

Nikhil Kamath, cofounder and CEO of leading stock broker Zerodha, is reportedly acquiring more stake in homegrown gaming platform Nazara Technologies. According to CNBC-TV18, citing sources, Kamath is aiming to acquire a total of 3.5% stake in the firm «in his personal capacity».

The Central Board of Direct Taxes (CBDT) has notified Form 71 which a taxpayer can use to correct the wrong Tax Deducted at Source (TDS) credit for any financial year. The notification was issued on August 30, 2023. Here is an example to understand this: Suppose an individual has FD interest of Rs 1 lakh in FY 2022-23 (AY 2023-24) due to which the bank will be required to deduct TDS.

Broadcom forecast fourth-quarter revenue slightly below Wall Street estimates on Thursday, on worries bleak enterprise spending and stiff competition in the networking chip space will outweigh benefits from a boom in artificial intelligence-led demand. Shares of the San Jose, California-based company fell 3.4% in extended trading.

Huawei and Alibaba for approvals related to their generative artificial intelligence (AI) models and products, it said on Friday. The list published by the Cyberspace Administration of China (CAC) highlights the demand for ChatGPT-like products in the world's second-largest economy.

Germany 206 billion euros ($223.55 billion) in 2023, Germany's digital association Bitkom said Friday. The damage will surpass the 200 billion euro mark for the third consecutive year this year, according to a Bitkom survey of more than 1,000 companies.

Binance is accelerating a move away from its exchange-branded stablecoin by offering incentives for customers of the world’s biggest crypto-trading platform to convert their holdings into alternatives.   

Bitcoin's price landscape remains dynamic and ever-evolving. As the cryptocurrency is currently trading at $26,081, marking a over 4% decline on Friday, the backdrop presents a mix of challenges and opportunities. 

Gulam Zia, Senior ED, Knight Frank, says “Home loan interest rates have been skyrocketing, perhaps the highest in almost about eight-nine odd years. But that has impacted the bottom to mid end of the market. The upper end is not so dependent, especially the luxury segment is not so dependent on home loans and that demand is going unabashedly up and the transactions there are going unbelievably high. That is where the share of affordable housing has been shrinking.”What are your thoughts on sustainability of this kind of momentum in real estate demand and where is the affordability coming from? One of the biggest drivers being cited is higher affordability. What are your thoughts there?Your question is what justifies this kind of euphoria? It is very difficult to say. A couple of thoughts; the wealth creation that we have seen in at least a year and a half or two in spite of the global gloom etc. Things have really gone well for India and that is where the traction in residential or home buys, home buying has been pretty good.

Indian market. It will be available in three distinct color variants: Military Red and Black, Standard Maroon and Black, and Black Gold. The pricing starts at ₹1.73 lakh for the Military color variant, followed by ₹1.97 lakh for the Standard version, and ₹2.16 lakh for the top-tier Black Gold variant.

Nilesh Gupta, MD, Vijay Sales.I have to say that it has been a bit unexciting maybe when it comes to the summer season so far. It has been unseasonal rains. How has Onam panned out for you and we are stepping into September already, got a huge festive season lined up. What are you anticipating by way of demand?You are absolutely bang on that this time of the summer season was not as good because of the erratic rains which came in. But at the end of the day, when we see the first half of the year, Jan to June, we did cover up the AC sales. Yes, there was no growth in air conditioners, but we did not lose out much. There was only a negligible 1 or 2% de-growth which happened. So that clearly shows that the sentiment is good. Although we are not present in the Onam market of Kerala but whatever feedback I have got from the market, Onam has been reasonably very good. But I think the biggest silver lining for us has been the 15th August.

«So overall, the consumerism is there. And in tier two and tier three, again it is the mobiles and the televisions which are doing very well,» says Nilesh Gupta, MD, Vijay Sales.I just wanted to get in a perspective in terms of what exactly the outlook is in the tier two and the tier three cities, both in your online and offline stores. How has the offtake been if you compare it with say the metro cities?So basically, we are not there at tier three cities at all, tier two we are there. But then definitely I do get information from the brands and other colleagues at other retailers. So I think India is more or less moving at a normal pace across. So we see there is a good demand in tier two and tier three also. Only thing is what starts moving first in the metros, it takes it may be taking around a little more time to trickle down there. And the effect is there. So overall, the consumerism is there. And in tier two and tier three, again it is the mobiles and the televisions which are doing very well.

Aggarwal who leads India investments at global infrastructure fund -Global Infrastructure Partners (GIP), has stepped down. He has put in his papers this week and details about his future plans are not yet known, said sources. Based in Singapore, Aggarwal leads GIP India’s investments in Power, Renewables and Waste/Water sectors.

₹4-4.5 lakh, likely to arrive this festive season. This highly anticipated model will be manufactured in India and cater to both domestic and international markets. The teaser provides a glimpse of the silhouette of the upcoming fully-faired motorcycle, which appears to draw design cues from the larger Aprilia RS 660 supersport bike.

Prateek Agrawal, Executive Director, Motilal Oswal AMC, says: “We have been positive about the new tech space, especially companies which have committed to turn profitable in the foreseeable future. As long as they stay on the path, the scepticism in the marketplace will slowly evaporate leading to good gains. Coming to growth versus profitability, when you make that transition, that should be expected to happen but as you go deeper into it and if all players in the space act in a disciplined manner, the transition would be smoother.”What do you make of the construct of the market? The party continues in the smallcaps and the midcaps. Is this a rising tide phenomenon or are the gains here to stay?We keep doing the pulse check on the market. Now, two points; one, we believe market levels on the largecap side are sustainable. While midcaps are trading higher than the long period average versus largecaps, they are still seen to be in a sustainable zone. Time correction is what we anticipate. Most of the growth themes that one is glued to at the moment all lie in the midcap space.

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A Chinese town has agreed to become a digital yuan “demonstration town” after striking a CBDC deal with a major, state-run bank.