FIVE Financial News

Chhattisgarh Assembly Election on Thursday.

By Xinghui Kok

fund managers in September bought into select PSU stocks where valuations are still low and they are likely to benefit as a new capex cycle kicks in. Stocks like Coal India, REC, PFC, Power Grid, Bharat Electronics and HPCL were among the picks of fund houses. As investors continued to allocate money to mid-, small-cap and multi-cap schemes, fund managers looked at companies that would benefit from the stability in the Indian economy.

Canada’s top banking regulator is flagging commercial real estate lending as a bigger risk than previously thought as higher interest rates persist and a practice known as co-lending increases.

TORONTO — Chartered Professional Accountants in Quebec and Ontario are still looking for answers about how the decision for their provincial oversight bodies to split from CPA Canada was made and what it means for the future of their profession.

Bruce Willis, celebrated for his roles in films like «Die Hard,» is facing a challenging battle with dementia. The 68-year-old actor received a diagnosis of frontotemporal dementia (FTD) earlier this year, following earlier revelations about his health issues.

Lionel Messi, the famous footballer, played his first match for Inter Miami FC in Major League Soccer in July. It was his North American debut. A documentary series titled 'Messi Meets America' chronicles Messi's transition from international football fame to playing for a less-known team in a less popular league. Messi's move to Miami had a significant impact on soccer viewership in North America, even prompting Adidas to release special T-shirts in his honor.

Rahul, spinners need to click for India KL Rahul repaid the selectors’ faith in him by producing two match-winning innings in quick succession: against Pakistan in the Asia Cup and against Australia in India’s opening match of the World Cup. He is the glue that can bind the middle order. The rate at which he is capable of scoring bolsters India’s prospects in the middle overs. His form is crucial to India’s chances in this tournament.

TikTok and Montana faced off in federal court in a case filed by the video sharing app and five content creators who want the court to temporarily block the state's ban on the platform before it takes effect on Jan. 1

Mint explains: Yes. Andhra Pradesh, Telangana, Tamil Nadu, and Kerala have borrowed much higher than what they had planned to during the second quarter of 2023-24. Karnataka is the only exception—the state, during this period, did not raise money at all, even though it had planned to borrow ₹19,000 crore.

Scape has followed up a $1 billion-plus fundraise with a $1.4 billion debt deal tied to green targets, that will enable the borrower to convert the debt into sustainable financing in future.

Swiss private equity firm EQT Partners’ dealmakers are redirecting their energies to the debt financing for VetPartners, now that they’ve fended off rival bidders with their winning $1.4 billion bid. 

NEW DELHI : The full-year budget, to be presented in Parliament after the national elections, will likely focus on expenditure reforms and encourage businesses and individuals to shift to the new simplified and exemption-less tax regime, said Bibek Debroy, the chairperson of Prime Minister Narendra Modi’s Economic Advisory Council (EAC-PM). In an interview, Debroy said by the time the full-year budget is presented, the terms of the Sixteenth Finance Commission to decide on the sharing of the Centre’s divisible pool of taxes with states for the five years from 2026-27 will come out, indicating overall expenditure reforms needed at central and state levels. India’s economy is expected to grow in the range of 6.5-7% in the medium term, Debroy said.

NEW DELHI : Infosys Ltd and HCL Technologies Ltd on Thursday said their 2023-24 revenue growth will be weaker than their earlier forecasts as their large foreign clients tighten purse strings amid economic uncertainties. With India’s largest tech services company, Tata Consultancy Services Ltd, already witnessing a revenue decline in the second quarter, this portends a depressing year for at least three of India’s Big Five tech companies. Infosys, India’s second-largest technology services provider, on Thursday slashed its growth guidance for a second straight time and now expects it at 1-2.5% in constant currency terms in 2023-24.

PRINCETON (MINNEAPOLIS) : Five law enforcement officers were shot and wounded Thursday morning in an incident near the east-central Minnesota city of Princeton, authorities said. The suspect was not in custody and the incident was ongoing hours later. Three of the officers were taken to North Memorial Hospital in the Minneapolis suburb of Robbinsdale while two were taken to a hospital in St.

Israel on Thursday with the scheduled departure of two Canadian evacuation flights and as more countries say they will also work to evacuate citizens after a deadly Hamas attack on Saturday.The departures list at Tel Aviv’s Ben Gurion airport has two Canadian Air Force flights scheduled for 2:30 p.m. and 7 p.m.

The International 2023 will be held in Seattle, close to Valve’s headquarters in the US. A total of the best 20 teams in the world will participate in the final round after a long Dota Pro Circuit season with three tours. It will be the first time that The International will take place in the US since 2018. It will return to Seattle which hosted the events between 2012 and 2017.

Manipur government issued an order, stating that nobody shall be allowed to circulate, spread videos, images, pictures through various social media platforms on electronic equipment and sending bulk sms which are likely to facilitate or to mobilise mobs of agitators and demonstrators which may aggravate the law and order situation in the state. Commissioner (Home) T. Ranjit Singh in a order stated, “Whereas, the State Government views very seriously and with utmost sensitivity the reported spread of videos and pictures/ images depicting violent activities like causing / inflicting harm/ injury to body and/or damage, to public/private property etc.

Mahantesh Sabarad, Independent Market Expert, says “I do not think guidance revision will lead to a massive derating in EPS estimates but potentially expectations from Infosys will get further delayed. Most of the analysts would roll forward their estimates and look at a better EPS and therefore with the lower multiple assigned, virtually retain the same target price. Something similar is likely to happen. I do not see any major upgrades coming in per se in terms of either EPS or target prices from analysts.” For Infosys. revenue has come in at 2.3% sequential growth. Margin has seen a 40 bps expansion at 21.2% and we are also looking at a TCV of around $7.7 billion. But, of course, the biggest headline is the guidance cut on the upper end. Your take. These results seem to be all right and 2.3% constant currency growth is a bit of a positive surprise and the deal wins are also very good. I am not too sure why the guidance has been tempered down. I guess like TCS, they are also facing a bit of execution issue ramp downs and late ramp-ups are likely to happen ahead. That seems to be the broader issue for the entire industry per se.

Wipro Pari, the industrial automation business of Wipro Enterprises, announced it has signed a definitive agreement to acquire a significant majority share capital of Ferretto Automation and Services, a subsidiary of Ferretto Group based in San Polo — Reggio Emilia, Italy. Ferretto Group continues to hold a minority participation in the project; Riccardo Ferretto will be the chairman and managing director of the new company and will be responsible for the overall business activities. “Our industrial automation business has grown significantly in the last five years. We are already an acknowledged market leader in providing turnkey automation solutions for global automotive OEMs specifically in the emerging BEV – Battery Electric Vehicles and HFCV – Hydrogen Fuel Cell Vehicles.

assembly elections in Rajasthan are set to be a showdown between the Congress and the Bharatiya Janata Party (BJP), with both parties acutely aware of the critical anti-incumbency factor that has shaped the state's politics since 1993. The state has witnessed a revolving chair scenario where no CM has won two consecutive terms since 1993. Gehlot is counting on his welfare schemes, but faces a tough fight. What is the date for Rajasthan elections, when are the results? The voting for the 200-seat Rajasthan state assembly will be held on November 23.