Performer Financial News

The slump in private equity returns has increasingly pushed US pensions and endowments to lean on an old and familiar investment: Stocks.

Just a few months ago, an MIT paper by Andrew W. Lo and Jillian Ross discussed Generative AI and Financial Advice in a case study. It certainly made our industry sit up and take notice – “An LLM (Large Language Model) can role-play a financial advisor convincingly and often accurately for a client,” they wrote.

tech companies have again resorted to job cuts to rein in costs, even as advancements in generative artificial intelligence continue to disrupt business. So far this year, 384 tech companies have fired 124,517 employees, according to layoffs tracker website Layoffs.fyi. Chip major Intel, Windows maker Microsoft, Tinder parent Match are among the companies that have announced mass layoffs so far. Back home, Indian tech startups are also shedding jobs amid a difficult funding environment and overall valuation reset.

Xiaomi devices to detect hidden cameras by leveraging wireless local-area network (WLAN) signals. This functionality, potentially named “Camera Scan," allows users to identify concealed cameras in their surroundings through WLAN searches.A shared screenshot reveals the user interface for this feature, which prominently displays the message, “Detect hidden cameras to protect your privacy and personal safety." This tool is expected to empower users to perform scans for hidden cameras with a single tap, thereby enhancing their sense of security in unfamiliar environments.This innovation is particularly relevant for travelers who often find themselves in new locations, helping them to avoid unnoticed surveillance.

Mutual Funds (MFs) in companies listed on NSE rose to yet another all-time high of 9.17% QoQ as on June 30, 2024, from 8.93%, powered by strong net inflows of Rs 1.09 lakh crore during the quarter, according to data compiled by primeinfobase. The share of Domestic Institutional Investors (DIIs) also increased to 16.23% from 16.07% during the quarter. Meanwhile, with Foreign Institutional Investors (FIIs) pulling out Rs 7,693 crore from the market during the quarter, their share declined to a 12-year low of 17.38%, down by 34 bps.

Mint in June compared to their performance six months ago, as per the latest Mint macro tacker. Eight of these indicators were above their five-year average trends, whereas three were below it. In comparison to six months ago, only six of these indicators were above their five-year average and four were below it.

SBI, while JPMorgan has a neutral rating on Amara Raja. Citi also has a buy call on UPL.

«I think it is really telling you, number one, there is a risk of a recession. I think it is premature to say that, but nevertheless there is a risk of a recession and in response to that risk, the Federal Reserve will reduce interest rates three times in 2024 and let us not forget there is the expectation that after reducing interest rates three times in 2024, the expectation is they will reduce interest rates four times in 2025 or one time each quarter,» says Hugh Johnson, Hugh Johnson Economics. What has changed so suddenly that the markets are now worried about growth, crisis, yen carry trade, just about everything has come together? Hugh Johnson: Well, I think, there always has to be some news of some sort that sort of touches off the correction and I think quite frankly the market had been a good market for a long time and it reached levels were a little bit pricier or overvalued, which made them very vulnerable to some bad news.

Zomato Ltd is known for its quick delivery, but investors in its shares seem equally fast or even faster in rewarding the online food delivery company’s financial performance. At least, that’s the impression one gets going by the 12% surge in the stock on Friday reacting to the positive surprises in the June quarter results (Q1FY25). This time around, the strong customer addition of the food delivery segment, which is already profitable at the adjusted Ebitda (excluding Esop) level, is commendable.

Fitch Ratings noted that elevated interest rates in the US since 2023 have begun to show some effect on the labour market and demand. Adding to worries, the global rating agency said politics remains an area of high uncertainty, with geopolitical risks here to stay. The rating agency noted that signs of a slowdown in the US are evident in weak credit growth and slowing consumer spending. This trend is expected to continue in the second half of 2024, with real GDP growth decelerating, though likely remaining above recession territory.

CERT-In) has warned of multiple vulnerabilities in Apple’s products and their operating systems for iPhones, iPads, and televisions. In a vulnerability note issued on August 2, the CERT-In said that multiple issues had been reported in Apple’s products which could allow attackers to access sensitive information present on devices, executive arbitrary code, bypass security restrictions, cause denial of service and perform spoofing attacks. CERT-In said that Apple iPhones, iPads, and televisions running software versions older than 17.6 were vulnerable to these possible attacks. It has asked Apple users to update their devices to the latest software patches for these vulnerabilities.

Bharti Airtel is expected to report revenue of Rs 38,488 crore for the quarter ended June 30, 2024, according to the average estimates of four brokerages. This represents a 2.6% year-on-year (YoY) increase. The net profit after tax (PAT) is projected to range between Rs 2,068 crore and Rs 3,922 crore. The highest revenue estimate comes from Axis Securities at Rs 38,996 crore, while the lowest is from Prabhudas Lilladher at Rs 38,164 crore. Nuvama Institutional Equities and BNP Paribas have estimated revenue at Rs 38,600 crore and Rs 38,191 crore, respectively.

₹234 crore at the end of 2023-24. Transactions only picked up after RBI introduced interoperability with the UPI system. But still, the volume of e-rupee transactions remains significantly lower than UPI, debit and credit card transactions in the country, which stood at ₹149.5 trillion in 2022.

Qatar Investment Authority, SBI Mutual Fund, and foreign investment funds Nomura and Citigroup were the biggest buyers of shares in Adani group's power transmission unit's $1 billion QIP, according to a stock exchange filing by the company. The Rs 8,373.10 crore (USD 1 billion) qualified institutional placement (QIP) of Adani Energy Solutions Ltd (AESL), which closed last week, saw over 120 investors seek shares in the firm that is into power transmission, distribution and smart metering business.

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CERT-In) has issued a severe warning regarding critical vulnerabilities in Apple products. The advisory, dated August 2, flags high-risk security issues across various Apple devices, including iPhones, iPads, Macs, and other products.

Revenue from operations came in at Rs 519.5 crore, up 27.8 per cent from Rs 406.6 crore in Q1FY24.

India will take on Sri Lanka in the second ODI match of the series at the R. Premadasa Stadium on Sunday, the Men in Blue skipper Rohit Sharma looks forward to breaking multiple batting records. Here are the records Rohit Sharma can break in the 2nd ODI against Sri Lanka:

Mahesh Babu's birthday approaches on August 9, fans have an extra reason to celebrate. The re-release of his iconic family drama, Murari, has set new records in pre-sales, marking a nostalgic trip down memory lane for Telugu cinema lovers. Murari, directed by Krishna Vamsi, originally hit the screens in 2001 and was an instant blockbuster. The film is now set to be re-released in stunning 4K resolution, allowing both old fans and new viewers to experience the magic of this classic in unprecedented clarity. The buzz around Murari has translated into impressive pre-sales figures. The film has become the fastest Telugu movie to collect Rs 50 lakhs in pre-sales, achieving this milestone by August 3. With six more days until its official re-release, the numbers are expected to soar even higher.

Sri Lanka at the R. Premadasa Stadium in Colombo, several strategic adjustments are on the agenda. The series, which has so far been marked by tight contests, will see the teams clash again on August 7 for the final ODI. The focus will be on India's approach to countering a sluggish pitch and Sri Lanka's arsenal of spin bowlers, who proved effective in the first ODI. For India, this means finding ways to counteract the spin bowlers and establishing solid batting partnerships. Sri Lanka, meanwhile, will look to build on their successful strategy and adjust to the absence of a key player. The outcome of this match will be pivotal in determining the series winner and will set the stage for an exciting final ODI on August 7.

As the unseeded Sen faces World N0. 2, he has hopes of 1.4 billion Indians, who are anticipating a medal from him in this edition of the Games. The 22-year-old shuttler has become the sole hope after the exits of prominent players like Satwik-Chirag and PV Sindhu. Sen and Axelsen have a shared history, as the Indian trained with the former World No. 1 in Dubai after being dropped from the Thomas Cup team.