Financial Financial News

Samvardhana Motherson International, incorporated in the year 1986, is a Large Cap company (having a market cap of Rs 68340.21 Crore) operating in Auto Ancillaries sector. Samvardhana Motherson International key Products/Revenue Segments include Auto Electricals, Sale of services, Scrap, Other Operating Revenue, Export Incentives, Job Work for the year ending 31-Mar-2022.Financials For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 22515.07 Crore, down -.16 % from last quarter Total Income of Rs 22551.94 Crore and up 27.11 % from last year same quarter Total Income of Rs 17712.55 Crore. Company has reported net profit after tax of Rs 625.01 Crore in latest quarter. Investment RationaleThe company has a proven track record of turnarounds and expanding global market share (c.0.4% in 2010 to c.2.5% in 2023).

By Jamie McGeever

Income Tax Department during a «spot verification» at Tamilnad Mercantile Bank's headquarters at Tuticorin has found deficiencies in some of the filed specified financial transactions, the private lender said on Saturday. The bank's business operations are continuing 'as usual' and 'not impacted' due to this development, the Tamil Nadu-based bank, which is over a century old, said in a statement on Saturday. Last week, the Intelligence and Criminal Investigation wing of the Income Tax department undertook a 'spot verification' at the bank's headquarters in Tuticorin. Tuticorin is located about 500 km from Chennai. The Income Tax department reportedly found that the bank has not filed statements of financial transactions pertaining to cash deposits of over Rs 2,700 crore.

In today’s financial world, planning for the unexpected has become more important than ever. At the heart of this planning is insurance. Once just a safety net for life’s surprises, insurance has grown to be a core part of how we manage our money, plan for our future, and ensure peace of mind. Let’s explore how insurance is shaping the broader landscape of personal finance with Maya’s example.

OctaFX has been listed on Bank Negara Malaysia's (BNM) Financial Consumer Alert List (FCA), alongside an array of other brokers. Grasp the implications this holds for traders.

Covid-19 pandemic, DPI enabled emergency support to be directly delivered to the digital wallets of those in need as well as helped facilitate swift vaccine distribution. The India Stack exemplifies this approach, combining digital ID, interoperable payments, a digital credentials ledger, and account aggregation," the report said quoting United Nations Secretary-General’s Special Advocate for Inclusive Finance for Development (UNSGSA) and Honorary Patron of the GPFI Her Majesty Queen Máxima of the Netherlands.

The US Securities and Exchange Commission (SEC) announced Thursday that it will settle charges against Tennessee-based fintech firm Linus Financial over sales of an unregistered cryptocurrency lending product.

The United Kingdom’s Financial Conduct Authority, or FCA, has reiterated its warning for all crypto asset firms marketing to users in the country to be in compliance with rules going into effect in October 2023, but added companies could have “more time to implement certain changes”.

life insurance companies trade mixed on Thursday, August 7 after the insurers reported their August business premiums. Leading general life insurers including Max Financial Services, ICICI Prudential Life Insurance, SBI Life Insurance, and Life Insurance Corp of India (LIC) were in focus during today's session.

Validus Financial Associates, which oversaw approximately $800 million in assets at Lincoln Financial Group, has found a new home at LPL Financial, the firm announced Wednesday.

Jio Financial Services shares were trading flat at Rs 254 in Thursday's trade after the stock was excluded from Nifty and other NSE indices. However, in today's intraday trade, the stock rallied up to 2% to Rs 257. Earlier, NSE Indices said in a release that Jio Financial Services will exit Nifty 50 and other indices of the NSE effective from September 7.

The European Union's financial services chief, Mairead McGuinness, believes there’s no reason to rush with the digital euro until after the next European elections in June 2024. In her opinion, the EU’s central bank digital currency (CBDC) project should be approached “quietly and slowly” by the next EU Commission, which will be appointed by the then-incoming parliament. 

Ethereum co-founder Vitalik Buterin has published a research paper diving into privacy pools systems as a tool to achieve more privacy in financial transactions, allowing users to prove dissociation from illicit funds through zero-knowledge proof technology.

SRF, incorporated in the year 1970, is a Large Cap company (having a market cap of Rs 72526.26 Crore) operating in Diversified sector. SRF key Products/Revenue Segments include Chemicals (Industrial), Other Operating Revenue, Traded Goods, Export Incentives for the year ending 31-Mar-2023.Financials For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 3350.14 Crore, down -11.85 % from last quarter Total Income of Rs 3800.42 Crore and down -14.20 % from last year same quarter Total Income of Rs 3904.57 Crore.

₹246.85 apiece on the BSE. Jio Financial Services Ltd (JFSL), the demerged non-banking financial services unit of Mukesh Ambani-led Reliance Industries, will be dropped from Nifty 50 and other NSE indices, on September 7, the stock exchange NSE said on Tuesday. JFSL shares will be dropped from 19 NSE indices, including Nifty 50, Nifty 100, Nifty 200, Nifty 500, Nifty Energy, Nifty Commodities and Nifty Oil & Gas.

Jio Financial Services: Jio Financial Services Ltd, the demerged non-banking financial services unit of Mukesh Ambani-led Reliance group, will be dropped from Nifty50, other indices, on September 7, the stock exchange NSE said on Tuesday. Shares of JFSL got listed on the stock exchanges on August 21 due to its spin-off from parent Reliance Industries. During the AGM, RIL announced that JFNSL will enter the insurance segment to offer life, general and health insurance products.

Sean “Diddy” Combs surprised the music industry and its observers recently when he decided to transfer rights from his Bad Boy Records catalog to some of the artists and songwriters who long ago helped make him a billionaire.

'There will certainly be further challenges and shocks facing the global financial system in the months and years to come.'

Japan’s top financial regulator, the Financial Services Agency (FSA) has proposed key amendments to the nation's tax code relating to profits on digital assets.