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The asset management partnership will have an initial commitment of £1bn and aim to deploy a total of £10-20bn of investor funds into UK and global private markets over the next decade. Phoenix Group said it had initially identified around £50bn of defined contribution products where illiquid assets have the potential to deliver better long-term outcomes for policyholders. Schroders tables FCA application to launch private markets LTAF for wealth clients The firm said it intends to invest 5% of these assets, around £2.5bn, in the partnership over the coming three to five years in l...

Gaurav Dua, SVP, Head — Capital Market Strategy, Sharekhan By BNP Paribas, says consumer is a structural story. What you are going to see is that the household income is going to more than double over the five to eight years in India and that is the space where we see that there are going to be lot of multi-baggers that will be available at the right price for the investors. Let us start with the unsecured lending side of the business. UGro, Five-Star, SBFC, have been doing very good numbers in the last few quarters. I am seeing some of them flow out in this quarter as well. But the fear is that asset quality may come at risk now and hence the valuations have got depressed in that area. Is it an opportunity to build in portfolios or will you still stay away from this side? Gaurav Dua: The fact that some of the states have already started to announce farm loan waivers is something which is like this concerning the market because if you are exposed to the microfinance industry or you have a high exposure to this unsecured loan, this basically spoils the whole borrower attitude, basically. This has been one of the risks. In the case of private sector banks, cost of funds are likely to go up and that is an additional concern about these NBFCs.

Indus Towers announced a share buyback via a tender offer on Tuesday while reporting its quarterly results for the first quarter of FY25. The company plans to repurchase approximately 5.68 crore shares at Rs 465 per share, totaling up to Rs 2,640 crore. The buyback price offers a 4% premium over the stock’s closing price on Tuesday, July 30.

Of late, there have been many discussions on how much spending or ostentation is “too much" for a rich person. And the views are polarized along, “It is bad/ immoral/ unforgivable to spend so much when most of your fellow citizens need free food" to “It is their money and how they spend it is no one else’s business." Without getting moralistic, the question is whether there a way or framework to think about this in pure economic terms? That is what I attempt to do in this piece.

Tata Steel is likely to see robust growth in profitability in the first quarter ended June 2024, but the bottomline may decline. Net profit for the June quarter may increase anywhere between 57-209% year-on-year, according to estimates from five brokerages.

DAM Capital initiated coverage on Hindalco with a 'Buy' rating and target price of Rs 905, which indicates an upside potential of 37% from the previous day's closing price of Rs 660 apiece. In its coverage initiation, DAM Capital emphasized the opportunities within the aluminium sector, expressing optimism about future aluminium prices and predicting deficits ahead. Meanwhile, the brokerage highlighted Hindalco's strengths, noting, «Hindalco's India aluminium business is strong, with stable copper operations.»

Maruti, M&M, Coal India, Adani Power, Tata Steel, Ambuja and Bank of Baroda. Apart from the above, companies like Aster DM Healthcare, Barbeque Nation, Deccan Healthcare, Dynamic Cables, IIFL Securities, Mankind Pharma, The Phoenix Mills, Thomas Cook, ZEE among others will also declare their first quarter results.

Reserve Bank of India (RBI) will keep interest rates steady for a ninth straight meeting in August due to persistently high inflation, with a slim majority of economists in a Reuters poll expecting the first rate cut next quarter.

Oil futures clawed back some losses on Wednesday, recovering from 7-week lows as geopolitical tensions rose after Israel retaliated against an attack by Hezbollah, although prices remained under pressure from concerns about demand in China. Brent crude futures climbed 39 cents, or 0.5%, to $79.02 a barrel by 0020 GMT ahead of expiry on Wednesday, while the more active October contract was at $78.54, up 47 cents.

Maruti, M&M, Tata Consumer, Adani Energy, Vedanta will be in focus due to various news developments and first quarter results. Maruti, M&M, Coal India, Adani Power, Tata Steel, Ambuja, BoB

HPE) has shipped its first batch of 1,000 made-in-India data servers beginning March, and is on track to achieve the $1 billion local manufacturing target over the next five years, its top India executive said.

Paris Olympics as 18 gold medals lie in wait for the respective nations, five of them from just swimming, where USA are one of the favorites in select categories. Will Day 5 be the occasion when Team USA reach the top of the Paris Olympics medals tally and consolidate their position? The jury is still out on this question and the picture around the intense contest around the leaderboard will become clear once the Day 5 action ends.

Jeep and Ram maker Stellantis says it will offer buyout packages to many of its U.S. white-collar workers just five days after the company’s CEO said the auto industry is in the middle of a significant storm

Philippines' Nesthy Petecio knocked India boxer Jasmine Lamboria out of the women's 57 kg round of 32 match in the ongoing Paris Olympics on Tuesday.

A new Olympics meme coin is generating a huge buzz in crypto trading circles as Olympic fever rises and crypto influencers bet that 100x gains are possible.

Massachusetts has agreed to provide about $30 million to help support the operations of six hospitals that Steward Health Care is trying to turn over to new owners after declaring bankruptcy earlier this year, according to court filings

“Deadpool & Wolverine” had a better Sunday than anticipated

Which industry grows regardless of external factors and serves as the primary growth driver – directly or indirectly – for all other industries? The answer, of course, is the power transmission and generation industry. With the government setting ambitious targets to meet the increasing demand for electricity and support the country’s economic growth, this sector stands at a crossroads. India's power industry is poised to become a significant exporter of electricity, with existing connections to the grids of Bangladesh, Bhutan, and Nepal, and plans to expand these to other neighbouring nations.

₹2.64 trillion through CDs in the June quarter alone, accounting for about 30% of new deposits. This dependence on CDs, while growing, remains below levels seen in previous credit booms. For instance, between November 2010 and March 2011, facing a similar credit-deposit gap, banks raised ₹5 trillion through CDs, which was double the amount of deposits added during that period.

₹10 crore. These rates can escalate, just as they do on income earned. This will either curtail ostentatious consumption or increase revenue.