Merit Financial News

Union Mutual Fund’s children’s fund has reignited discussions about the legitimacy of solution-oriented mutual fund schemes and the validity of including them in one’s investment portfolio. The justification for investing in children’s funds continues to be a subject of ongoing discussion.

Sanjay Singh in a money laundering case related to the excise policy case until December 11, 2023. Meanwhile, the court also ordered to supply an advance copy of the supplementary chargesheet to Sanjay Singh's lawyer and noted that the bail arguments are to be held on December 6, 2023. Earlier during the arguments, the Enforcement Directorate filed an application stating that the names of one protected witness had been mentioned by mistake and hence the same shall not come into the public domain due to their protection. The court has reserved the order for the interim court and directed the court staff to keep the file in secrecy. However, the court, while ordering to serve the advance copy to Sanjay Singh's lawyer, allowed ED to remove or hide such a portion mentioning the protected witness name.

In the 12 months ending in March 2023, Canada welcomed nearly 1.2 million new people, a record for a one-year period. For 2023, population growth is expected to surpass three per cent, a 65-year high. 

Sanjeev Prasad, MD & Co-Head, Kotak Institutional Equities, says “everybody likes the long-term story of India. People want to put more money to work into India, so now that whatever little uncertainty was there with respect to election results and the probability of a correction in the market has obviously gone down dramatically, probably it makes sense to jump in now rather than wait for something else to happen which may result in a break in the market and give an opportunity for investors to come in. ” Will the bulls continue to smile or is it time to hold back your horses and say that this is a euphoria and euphoria really makes money? Well, it depends on which part of the market you are looking at. If you are looking at the very largecaps or the megacaps, the valuations are still pretty reasonable and that is a part of the market where we have been highlighting investors to focus incrementally over the last two, three months now. The financial sector space has been a bit underperformer. The valuations are very reasonable there and even attractive in some cases. Now, if you look at the rest of the market beyond the megacaps and the financial space, there is not much value left over there. The consumption names, pharmaceutical, IT are probably fully valued to fairly richly valued, I would say. So the scope of making money from here seems to be somewhat limited a bit about what our short term euphoria will be there and where the stock price may go in the short term.

Gurgaon police’s Economic Offences Wing (EOW) will investigate the case filed by MGF against Emaar India, the local arm of Dubai's Emaar Properties, and international property consultant JLL India, a senior police officer said. Following the direction of a Gurgaon court, the local police filed a case of undervaluation of land and other charges of committing fraud. “We have registered the case at the direction of the court and have now started the process to transfer the case to EOW. That team will begin the investigation,” said the police officer, who did not wish to be identified. According to a court document, in 2019, Emaar Properties appointed JLL as an independent valuer arbitrarily and forged the reports pertaining to the demerged assets in conspiracy with JLL to decrease the value of MGF’s land and inflate the value of Emaar Properties’ claim to unjustly enrich themselves.

Trump was acting "in his personal capacity as a presidential candidate" when he urged his supporters to march to the Capitol on the day of the riot. U.S. presidents are immune from civil lawsuits only for official actions.

Paul Lynch won this year's Booker Prize for his dystopian novel, Prophet Song. Set in the near-future, it is a novel of our times: a liberal democracy — in this case, Ireland — under authoritarian rule with law enforcement and the judiciary weaponised by far-reaching powers. But it is a particularly illuminating point made by Lynch in a TOI interview that merits more burrowing.

Sultan al-Jaber, president of COP28, is an interesting personality. The PhD in economics was chosen by the country hosting COP28, the United Arab Emirates, to head the conference. He happens to be the CEO of Abu Dhabi National Oil Company, one of the world's largest fossil-fuel companies.

AbbVie (NYSE:ABBV) announced Thursday that it will acquire Immunogen (IMGN) and its flagship cancer therapy, Elahere, in a deal worth $31.26 per share.

Udaipur (IIMU) has announced that it will set up the JM Financial Centre for Financial Research in collaboration with JM Financial, an integrated and diversified financial services group. The centre will provide scholars in finance and related disciplines access to world-class resources. The JM Financial Centre for Financial Research at IIMU will engage in academic research in finance and related disciplines, conduct annual workshops, and industry talks, and partner with the BFSI sector and regulatory bodies for action research and seminars.

SenseTime, a major Chinese artificial intelligence company known for its facial recognition technology, has rejected claims by a research company that it has inflated its revenue

NEW DELHI : European multinational companies facing hefty tax demands in India have filed a review petition urging the Supreme Court to follow the Vienna Convention in interpreting the most-favoured nation (MFN) clause in tax treaties, two people familiar with the matter said. Ruling on a batch of five petitions, a landmark 19 October Supreme Court verdict had backed the tax department in the matter, effectively doubling the withholding tax outgo of these companies, and potentially opening up more companies to similar tax demands. The aggrieved companies soon filed review petitions; among them, Steria India challenged a tax ruling pertaining to the India-France tax treaty.

In the ever-shifting landscape of cryptocurrencies, Bitcoin, the pioneering digital asset, is currently trading at $37,182, experiencing a slight downturn of around 1% on Tuesday. Amidst this fluctuation, Bitcoin continues to offer unparalleled transactional independence, a quality not without its challenges as Kennedy voices concerns over the potential threats posed by Central Bank Digital Currencies (CBDCs).

Apple CEO commented. The CEO provided further clarification on his concept of 'one plus one equals three': "Experiencing collaboration with individuals who inspire and bring out our best is truly remarkable. Essentially, we share the belief that the combination of your idea and my idea surpasses the merit of each individual idea in isolation." Cook, who assumed the role of Senior Vice President at Apple in March 1998, was later questioned by Lipa about the prerequisites for working at the iPhone maker, such as needing a degree or exceptional coding skills.

Narendra Modi said on Sunday that he has been troubled by a rising trend of Indians holding weddings outside India. If these celebrations are held domestically, then Indian money will stay within the country and “the people of the country will get an opportunity to be of some service at your weddings," he said in his ‘Mann Ki Baat’ address.

earnings per share (EPS) and the average dividend yield. While the precise stock value may not be pinpointed, this approach is certainly beneficial in evaluating potential stock price movements. The market may require time to acknowledge a company’s true value.

CBI has registered a preliminary enquiry against Trinamool Congress Lok Sabha MP Mahua Moitra on a reference from anti-corruption ombudsman Lokpal, officials said Saturday. BJP MP Nishikant Dubey had approached the Lokpal with a complaint against Moitra over allegations of taking bribes to raise questions in Parliament.

Trinamool Congress Lok Sabha MP Mahua Moitra on a reference from anti-corruption ombudsman Lokpal, officials said Saturday. BJP MP Nishikant Dubey had approached the Lokpal with a complaint against Moitra over allegations of taking bribes to raise questions in Parliament.

Himadri Speciality Chemical Ltd and Dalmia Bharat group to jointly acquire Birla Tyres. Another petition involves Kesoram Industries Ltd, the parent company of Birla Tyres, contesting the rejection of its claims as a financial creditor in the Birla Tyres insolvency process. Additionally, Manav Investment and Trading Company Ltd, a shareholder, is raising a worker's claim in its case.

Origin Energy Ltd.’s top investor rejected a revised A$19.1 billion (US$12.5 billion) takeover plan by a Brookfield Asset Management Ltd.-led group, casting the year-long pursuit into new doubt.

Origin Energy has postponed Thursday’s shareholder vote on its $18.7 billion takeover after it received a complex new bid, including an alternative transaction the board has called “inferior”.