Financial Financial News

₹600 crore (around $73 million). The fund is managed by JM Financial AMC as Investment Manager. Mumbai-based JM Financial Group will invest debt capital in local companies via a new fund, adding another asset class to its portfolio that already includes private equity, distressed assets, non-banking finance and mutual funds.

HDFC Ltd in the Nifty Financial Services index. The development comes after HDFC merged with HDFC Bank with effect from July 1, 2023.  The NSE Indices also announced replacement against HDFC share price on its indices.

The World Is On The Brink Of Shrinking Human Intel... moreThe World Is On The Brink Of Shrinking Human Intelligence To Mere Dependence On Artificial Intelligence (Ai) Tools Like Chatgpt.

A special chapter of the BIS Annual Economic Report 2023 details a blueprint for the future by rethinking the existing pillars of the current monetary system. A unified ledger would combine tokenised forms of central bank digital currency (CBDC) with tokenised bank deposits and other tokenised claims, opening up a new era in the joint development of the monetary system and the economy. Hyun Song Shin, economic adviser and head of research of the BIS, comments: "We are at the cusp of another major leap in the monetary and financial system, which will have far-reaching consequences for the economy and society at large. Bringing together central bank money, commercial money, and different assets on the same platform, all tokenised and interacting, opens up a whole new range of possibilities. This would be a game-changer in how we think about money and how transactions take place." Examples of possible innovations cited by the report include:

Mutual Fund on Tuesday launched an open-ended equity scheme, Bandhan Financial Services Fund. This new scheme offers investors the opportunity to benefit from the multi-year growth opportunities in the financial services sector.

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Bandhan Mutual Fund has announced the launch of the Bandhan Financial Services Fund, an open-ended equity scheme, that allows investors to benefit from the multi-year growth opportunities in the financial services sector. The New Fund Offer will open for subscription on July 10 and will close on July 24. “A significant portion of India’s economic growth is fueled by the financial services sector. Powerful enablers like increasing financial inclusion, growing digitization, and the relatively stronger balance sheet of banks and NBFCs provide visibility for strong earnings growth for this sector. It has been a key driver of returns for the capital market with the Financial Services Index growing 18X since inception compared to 10X for the Nifty 500 Index,” said Vishal Kapoor, CEO, Bandhan AMC. “The Bandhan Financial Services Fund will go beyond the traditional Banking sector by diversifying further with investments in Capital Markets, NBFCs, Insurance, and Fintech as well, providing investors with an opportunity to benefit from India’s long-term growth story,” added Kapoor.

JM Financial has buy call on Westlife Foodworld with a target price of Rs 995. The current market price of Westlife Foodworld is Rs 847.

Issuers in a controversial corner of the $6.4 trillion ESG debt market are building in clauses that allow them to sidestep financial penalties, according to BloombergNEF.

Incred Financial Services (Incred Finance), a retail focused NBFC set up by former senior Deutsche Bank executive Bhupinder Singh, has hit the fundraising street targeting to raise as much as $125-150 million at a valuation of up to $1.5 billion (approximately ₹12,000 crore), said two sources aware of the development. Incred is looking at diluting around 10% stake in this round, the sources added. The funds raised will be used to grow the NBFC's loan book.

Financial wellness doesn’t mean adding spa appointments to a company’s benefits plan or installing a hot tub in the breakroom.

Try as you might, you can’t spell “financial advisor” without F-L-O-R-I-D-A.

The Supreme Court’s bombshell ruling Thursday striking down race-conscious college admissions programs will likely hurt diversity within the financial advice profession — but the degree to which it will do so is unclear, observers said.

Following the lead of their clients, financial advisors are starting to embrace cryptocurrencies as an investment, according to a new survey.

While women have made inroads in the financial services industry, there's still a gap-especially for women of color. For International Women’s Day, Investopedia asked female financial advisors what representation means to them and how the industry can improve. 

On February 5, 2021, then 33-year-old retail investor Glauber Contessoto emptied out his bank account, maxed out his credit cards, and put everything he had in Dogecoin—69 days later, his initial investment of $180,000 was worth over $1 million. 

Financial decisions are key to your relationship. Without mutual respect for each other’s financial goals, it becomes difficult to manage your house. Often family members tend to ignore each other’s financial challenges and fail to discuss their common goals. However, there are critical signals you must know about to avoid getting into a financial mess owing to the fault of your partner.

In our fast-paced world, where instant gratification is the norm, it’s becoming increasingly challenging to balance our short-term and long-term financial goals. We’re bombarded with messages that promise quick fixes and immediate satisfaction, which often take priority over the more arduous, long-term financial planning that’s essential for financial security and stability.

Piramal Enterprises with a target price of Rs 1165. The current market price of Piramal Enterprises is Rs 945.5.

One97 Communications, incorporated in the year 2000, is a Small Cap company (having a market cap of Rs 54515.29 Crore) operating in Services sector. One97 Communications key Products/Revenue Segments include Sale of services and Other Operating Revenue for the year ending 31-Mar-2022.Financials For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 2464.60 Crore, up 15.16 % from last quarter Total Income of Rs 2140.20 Crore and up 49.51 % from last year same quarter Total Income of Rs 1648.40 Crore.

Economies’ by Mariana Mazzucato and Rosie Collington. The authors argue that the reliance of large businesses and, even governments, on external experts weakens and undermines their competence and ability to accomplish their goals. The hired experts have no stake in the real outcomes and go through a highly practised performance and make their money.