FIVE Financial News

NEW DELHI: India’s largest lender State Bank of India (SBI) is expected to spring a surprise in the June quarter earnings mainly on account of non-interest income, says Santanu Chakrabarti, BFSI analyst at BNP Paribas India. “The corresponding quarter’s number was depressed by MTM losses as well as relatively lower disbursement velocity (fee driver) vis-à-vis the current one.

By Leika Kihara and Takahiko Wada

LONDON (Reuters) — The peak holiday season is gearing up, but school's not quite out for summer in financial markets.

«And, of course, unlisted space, when people started discovering that maybe around 10 years back, you would see value buys,» says Nimesh Kampani, 108 Capital.In last four months of this comeback equity market for the listed space, what has happened in the unlisted space? Has the unlisted space got re-rated? If yes, which are some stocks where the re-rating has been massive?The markets move in tandem. So, of course, public markets will always be at the forefront and be the barometer and then the private markets follow that. And private markets have now two parts.

macroeconomic conditions and expectations of healthy corporate earnings in the medium term, the market the fundamental outlook seems reasonable, said Mayur Patel, Fund Manager, Listed Equity, 360 ONE Asset. In an interview with Mint, Patel revealed what sectors he is positive about at this juncture and what he thinks about the trajectory of monetary tightening.

Adani Group, Gautam Adani, has recently made headlines when he took a subtle jab at Hollywood director Danny Boyle in relation to his ambitious plans for transforming Mumbai's Dharavi into a modern city hub. In an open letter, Adani referenced Boyle's acclaimed 2008 film "Slumdog Millionaire" and expressed his optimism about the future of the revamped Dharavi, stating, «God willing, the likes of Danny Boyle will discover that the new Dharavi is producing millionaires without the slumdog prefix.» Boyle's «Slumdog Millionaire» garnered significant international recognition, after receiving eight Oscar Awards, including Best Picture, Best Director, and Best Adapted Screenplay.

Day trading guide for today: Following strong global market sentiments on strong earnings by Wall Street listed companies, Indian stock market ended higher on sixth day in a row on Thursday. Out of three key benchmark indices, BSE Sensex and NSE Nifty climbed to a new peak during the previous session while Bank Nifty index gained 517 points and closed at 46,186 levels.

monsoon rains across the state, a red alert has been issued in Pune, Raigad, Thane and Palghar districts today.  As per IMD bulletin yesterday, isolated heavy to very heavy rainfall very likely to continue over Mumbai during next two days. Isolated extremely heavy rainfall likely over Konkan & Goa, ghat areas of Madhya Maharashtra, Gujarat state on 20th and 21st July. As per a civic official, the island city received an average 100 mm rainfall in the last 24 hours ending on 8 am on Thursday.

By Wayne Cole and Alasdair Pal

Johnny Depp has painted the emotions of recent years into a self-portrait and is offering the result for sale as a time-limited edition. The actor began working on the piece, titled 'Five', around 2021 in the midst of an explosive dispute with his ex-wife, Amber Heard, which played out in courtrooms on both sides of the Atlantic.

Donald Trump's alleged efforts to overturn the 2020 election results, the former US president faces a slew of potential charges. The 77-year-old Trump said Tuesday he had received a letter from Smith confirming he was a target of the probe and added that he expected to be arrested and indicted soon.

Infosys posted a nearly 11% increase in first-quarter net profit, but missed analyst estimates and slashed its revenue growth outlook for the fiscal year, blaming spending cuts and delays in decision-making by clients, especially in the key financial services domain. India’s second-largest software exporter projected its revenue in fiscal 2024 to grow 1.0-3.5% in constant currency, or excluding exchange rate fluctuations, compared with the previous estimate of 4.0-7.0%, underlining the global macro challenges for the country’s storied sector which is seeing tepid demand for outsourcing services.

ET Intelligence Group: FMCG major Hindustan Unilever's (HUL) performance in the June quarter — the first under new CEO Rohit Jawa — was rather modest.

New management at bankrupt crypto exchange FTX has filed a lawsuit against former Chief Compliance Officer (CCO) Daniel Friedberg, alleging he enabled fraud and paid «hush money» to prevent employees and their attorneys from exposing those fraudulent activities.

A digital euro—a central bank digital currency (CBDC)—may be in the works if a proposal by members of the European Central Bank and the European Commission goes forward.

By Rae Wee

New Delhi: India and Japan signed a memorandum of understanding (MoU) on semiconductor development, which will include design, manufacturing, equipment research and talent development.  Union Minister Ashwini Vaishnaw said that the agreement as a substantial step to create a resilient complete value chain. "The MoU is on five fronts, viz. semiconductor design, manufacturing, equipment research, talent development, and bringing resilience to the semiconductor supply chain," said Vaishnaw.

NEW DELHI : Infosys Ltd on Thursday reported its weakest June quarter revenue growth since FY21 and slashed its annual sales forecast for the current fiscal year. The Bengaluru-based tech bellwether said that in constant currency terms, which does not account for currency fluctuations, revenue rose 1% from the preceding quarter and 4.2% from the year earlier to touch ₹37,933 crore. Net profit rose 10.9% from a year earlier to ₹5,945 crore, while operating margin came in at 20.8%, in line with its guidance of 20-22% for the fiscal.

MUMBAI, BENGALURU : Media mogul Subhash Chandra is in talks with JC Flowers Asset Reconstruction Co. (ARC) to buy back his family’s shares in Dish TV India Ltd, marking another twist in the two-year-old battle between the minority investor and the promoter for control of India’s third-largest satellite TV operator. Chandra, 72, has also put forward a proposal to buy other assets, including shares in the educational company Zee Learn Ltd and three properties, including a bungalow built over 2.8 acres in central Delhi.

The House has overwhelmingly passed a bill that would give the Federal Aviation Administration more money to hire air traffic controllers

I am 33 years old and work in the service sector, drawing a monthly salary of ₹1 lakh. My investment portfolio includes ongoing systematic investment plans (SIPs) in mutual funds : two large-cap funds ( ₹5,500), a consumer fund ( ₹2,500), a flexi-cap fund ( ₹2,000), a tax saver fund ( ₹1,500), a mid-cap index fund ( ₹1,000), and a small-cap index fund ( ₹1,000). All these SIPs have a step-up of ₹500 every year. The total corpus accumulated from these investments so far is ₹4.32 lakh. Additionally, I hold a public provident fund (PPF) account, with a corpus of ₹3.56 lakh, and I aim to invest ₹1,500 in it every month. I contribute around ₹50,000 annually to NPS (national pension scheme) tier-1 account. For my 5-month-old daughter’s future, I plan to invest ₹12,000 every month in a Sukanya Samriddhi account. My wife and I also have a joint home loan that we are actively prepaying. We have repaid half of the principal amount over four years and plan to complete the repayment within the next five years. The monthly EMI for the home loan is ₹25,000. Looking ahead, my long-term goals include expenses for my daughter’s education, both graduation and post-graduation, with a timeline of 15-20 years. Are there any changes required in my investment strategy? —Name withheld on request Most of the equity mutual funds in your SIP are appropriate for your goals.