Mantra Financial News

Jo Google kar sakta hai, wah tera bhagwan nahin kar sakta (What Google can do, your God cannot), whose video went viral on the internet. Parents of some students of the school staged demonstrations before the institution terming the play as an affront to sanatan dharma. They said the teacher who wrote the play belonged to a different faith and had purposely insulted their religion.

“I might sound very conservative in my thinking here, but how I think about a multibagger is a 25% CAGR for about 5 years’ time which is a 3x in 5 years,” says Puneet Khurana, CIO & Fund Manager, Stoic Investment Managers. In an interview with ETMarkets on the sidelines of Investing Accelerator Summit 2023, Khurana said: “In our experience and corroborated from our research, that you increase the odds when you are in the 3000-15000 crore market cap space with companies having strong historical fundamentals, exciting valuation zones and growing companies” Edited excerpts:Multibaggers no matter how much/many someone wants – it will never be enough. Why is finding a multibagger tough for retail investors? In a way, this question is ironic. In the sense that by the very definition of “Multibagger”, it is not just about finding the right stock but riding through the journey that a stock takes on its way to be a multibagger.

HDFC Bank, a debtholder of bankrupt Future Retail Ltd (FRL), has objected to a decision by the resolution professional (RP) to put to vote Space Mantra's offer for the asset, saying the "resolution plan suffers from gross illegalities". It said in a letter to verified lenders that there are procedural lapses in the resolution process and the RP had failed in his duty to maximise value for financial creditors. ET has seen the letter. Deloitte-backed RP Vijaykumar Iyer had invited lenders to start voting on Space Mantra's ₹550 crore resolution plan for FRL from August 31, as reported by ET on Thursday. HDFC Bank's August 29 letter said the RP did not provide critical information to the committee of creditors (CoC) to allow them to make an informed commercial decision on the resolution. The RP and HDFC Bank did not respond to ET's queries. FRL, once owned by Kishore Biyani, operated 1,308 retail stores under the Big Bazaar, Easyday and Foodhall names as per the FY21 annual report.

Future Retail (FRL) have put to vote the sole plan to take over the company by Space Mantra, promoted by former NBCC chairman Anoop Kumar Mittal, even as they are uncomfortable with the poor offer for what was once a leader in India's retail market. On Thursday, the committee of creditors (CoC) extended the timeline for voting to September 7 from August 31 as some lenders wanted more time to get internal approvals from their top management. Lenders are closely weighing their options with some preferring liquidation of the company rather than assigning the debt for next to nothing. «The offer is very close to the liquidation value and some lenders are uncomfortable with selling it so cheap but our choices are limited.

Narendra Modi in his video message to G20 ministers, and delegates in Varanasi. While addressing the meeting, the PM said, India is using technology to ensure better preservation of its cultural heritage. «Culture has an inherent potential to unite, your work holds immense significance for the entire humanity,» said Modi in his speech. In the nearly 9-minute-long video the prime minister also extended his greetings to the ministers and other delegates who gathered in the temple town for the mega G20 event. The PM called Varanasi a treasure chest of spirituality, knowledge and truth.

Guru Purnima is a religious festival dedicated to teachers. This year, the India Inc bosses found a special way to celebrate Guru Purnima.Nita Ambani, founder and Chairperson of Reliance Foundation (the philanthropic arm of Reliance Industries Limited), hosted a special show 'Parampara — A Guru Purnima Special' at The Grand Theatre at the Nita Mukesh Ambani Cultural Centre in Mumbai's Bandra Kurla Complex in Jio World Convention Centre. To mark the second day of 'Parampara', the businesswoman recited the guru mantra on stage for the audience.

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