Experts Financial News

Nine more banks have joined China’s digital yuan pilot, bolstering the number of banks offering CBDC wallets to 60.

Gibran Rakabuming Raka, a vice presidential candidate in the upcoming Indonesian election, aims to accelerate Indonesia’s position as a leader in the digital revolution by cultivating expertise in blockchain and cryptocurrencies.

Target and Amazon are all-in on the shipping wars, a move retail experts say will help them maintain a competitive edge against low-cost Chinese retailers Shein and Temu. For Walmart and Target, their investments are also aimed at narrowing the gap in delivery speed with Amazon, which has set the standard for fast shipping and remains the king of speed. Amazon packages have been arriving at the doors of Prime customers even faster this year under the company's new distribution model, which divides the country into eight regions and predominantly ships items from warehouses in those areas. The idea, according to Amazon, is to get shipments to travel shorter distances with fewer touchpoints, which helps the company not only speed up deliveries but also cuts down on costs.

In the fast-growing housing market of India, where affordable residences for the economically underprivileged and opulent homes for the affluent take centre stage, attention is increasingly drawn to a crucial yet sometimes overlooked segment—the mid-segment homes.

Making yourself rich doesn’t revolve around only making money. Instead, it mandates an individual to have the ability to spend and utilize the money wisely. Individuals are constantly looking for successful methods for growing their wealth and ensuring their financial security in today’s uncertain financial market. Among the many strategies for achieving financial independence, one has stood out for its ability to bring in considerable income: the Income Avalanche through wise stock market investments.

₹1.5 trillion in the April-October period. This tax is levied as special additional excise duty and revised nearly twice a month. During April-October, the highest rate of windfall tax on crude oil was ₹12,100 a tonne, levied in the fortnight starting 30 September.

NEW DELHI : Two-wheeler sales are speeding again. At least that’s what production data and retail sales in the festive months of September, October and November show. Does it mean the segment, hurt by income disruptions during covid, is back on its feet? Mint explains.

CCI) has approved Ahmedabad-based detergent-to-cement conglomerate Nirma's acquisition of a majority stake in Glenmark Life Sciences (GLS), the competition watchdog said in a statement. Nirma in September has agreed to acquire 75% of Glenmark Life Sciences (GLS) in a deal valued at Rs 5,651.5 crore, or Rs 615 per share. The deal is Nirma’s biggest bet in the pharmaceutical sector. The acquisition will trigger a mandatory open offer to all public shareholders of GLS for an additional 17%. Nirma's spokesperson couldn't be reached. Glenmark's spokesperson declined to comment. GLS is into manufacture of active pharmaceutical ingredients (APIs) and contract development and manufacturing organisation (CDMO) business. Nirma, an unlisted company, was set up by Karsanbhai Patel in 1969 who sold his low-priced detergents in Gujarat as a door-to-door salesman.

Recently, the Shiba Inu (SHIB) lead developer Shytoshi Kusama hinted at new major developments for the altcoin. Meanwhile, Everlodge (ELDG) has made headlines by integrating AI into its upcoming platform. This has the potential to revolutionize the real estate industry, which Statista projects may reach a value of $729T by 2028. With experts forecasting a 3,000% price increase for ELDG, let’s review what makes it so appealing.

Considering the upper price band of Rs 493, the stock is likely to debut at a premium of 32%. However, it is important to note that grey market premiums are just an indicator of how the company's shares are stacked up in the unlisted market and are subject to change rapidly. At the upper price band, the company is valued at P/BV of 2.4X with a market cap of Rs 5,278 crore post the issue. India Shelter Finance boasts strong fundamentals built on years of experience in the affordable housing market. The company has a diverse portfolio and strong distribution network, catering to the growing demand for quality and affordable homes. «The company has demonstrated consistent financial performance with a track record of revenue and profit growth.

IIFL Samasta Finance raised Rs 607 crore in its maiden public bond issue, with the lender aiming to maintain its growth momentum at about 25-40% in the next three years. Happy with the response to its first such fundraising, the company plans to follow up with another public bond issue early next fiscal, managing director Venkatesh N told ET. In this round, the NBCF-MFI mobilised over three times the base issue of Rs 200 crore even as it was aiming to raise up to Rs 1,000 crore through an option to retain oversubscription up to Rs 800 crore over the base size. «We have an approval for raising up to Rs 2,000 crore. Considering only a few months are left for FY24 to end and availability of some other undrawn lines, most likely we will hit the public bond market early next financial year,» Venkatesh said. In the second half of the current fiscal, the company plans to borrow about Rs 6,000 crore as compared with Rs 5,239 crore raised in the first six months.

Kenvue (NYSE:KVUE) stock experienced a pre-market surge of 5% following a court's favorable ruling in a class action lawsuit related to Tylenol.

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Some of the newest technology and some of the oldest pillars of wealth management are among the essential trends for advisor growth in 2024, according to Envestnet.

Apple Inc. will stop selling the latest versions of its smartwatch in the U.S. due to a patent dispute, taking some of its best-selling devices off the market during the busy holiday season.

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Zee Entertainment Enterprises (ZEEL) fell nearly 5% to the day's low of Rs 267.15 on NSE on Tuesday after Sony Pictures Networks India (SPNI) said that it has not yet agreed to a deadline extension requested by ZEEL for their merger, and is looking forward to knowing how the latter planned to complete the remaining critical closing conditions. The news did not go down well with the investors as significant selling pressure was seen on the counter. At 1:50 pm, over 2.59 crore shares changed hands on the NSE.

Sandeep Raina, Executive Vice President- Research at Nuvama Professional Clients Group believes there will be no significant changes in the upcoming Budget before the General Election. However, after the elections, the government may announce a pro-investment Budget. In an interview with Mint, Raina shared his views on markets and the Indian economy.

Inox India will likely debut on the exchanges on Thursday, December 21. Ahead of the debut, the company's shares are fetching a premium of Rs 520-540 in the unlisted market.

Coal India, with strong uptick in production, power producers as NTPC, capital goods major BHEL and many others have given strong returns. Also Read- PNC Infratech shares surge over 6% as company bags new hybrid annuity road project The Nifty realty Index has been the largest gainer. Analysts ta ICICI Securities have highlighted that concerns over rising mortgage rates impacting demand have been addressed by all companies under their coverage which clocked record residential sales bookings in FY23 (up 43% YoY in value terms) and momentum sustained in H1FY24 in spite of the absence of big-ticket launches by most developers.

₹100 crore initial public offer (IPO) of RBZ Jewellers opened for subscription today, December 19, 2023, and will end on December 21. The company has set a price band of ₹95-100 per share for the issue. This is one of the last IPOs of 2023.