Performer Financial News

By Rae Wee

Non-Banking Financial Companies(NBFCs). And just like banks, loans given to retail borrowers by these alternative platforms are also growing fast in size. The latest RBI data released via a report vouches for this.

Rahul Gandhi received tremendous support for its ‘Bharat Jodo Yatra’ which the Congress MP started in September 2022 from Kanyakumari to Kashmir. This time Rahul Gandhi will undertake a 150-day-long Bharat Nyay Yatra from Manipur in the northeast to Mumbai in western India. “This Yatra will cover a distance of 6,200 km.

Ecommerce giants Amazon and Flipkart's cumulative ad revenue rose 39% to Rs 8,705 crore in the fiscal year through March 2023, as advertisers across categories used the platforms amid growth in their user base, as per data filed by the companies with the Registrar of Companies (RoC). In FY23, Amazon Seller Services, the marketplace arm of Amazon, recorded 29% growth in ad revenue at Rs 5,380 crore, according to the RoC filings sourced from business intelligence platform Tofler. For Flipkart Internet, the marketplace arm of Flipkart, revenue from this segment rose 60% to Rs 3,325 crore.

Perpetuals trading protocol Levana has fallen victim to an oracle attack, resulting in a loss of $1.14 million.

Yash Raj Films' revenue for the fiscal ended March 31, 2023, surged almost 2.5 times on-year to '1,508 crore on the back of Shah Rukh Khan-starrer Pathaan's superlative box office performance. The company had recorded revenues of '619 crore in FY22, according to its regulatory filings with the Registrar of Companies (RoC). «It's been one of our best years in our 50-year history,» Akshaye Widhani, chief executive of Yash Raj Films (YRF), said about calendar 2023. «Our hits have been more than our misses due to our focused content approach,» he told ET, referring to the performances of Pathaan and Salman Star-starrer Tiger 3, which was released in November. Widhani refused to comment on the financials since YRF is a privately held company. Global box office collections of Pathaan, which made its theatrical debut on January 25, and Tiger 3 stood at '1,100 crore and '480 crore, respectively.

android alert has been issued by the cyber security experts at McAfee who found a bug called ‘Xamalicious’ that can permit itself to perform tasks from a remote distance, for instance navigating the screens. This kind of bug has the potential to allow thieves to be in complete control of the devices that are affected. They can also perform activities such as the inclusion of spyware, or stealing money from accounts without even the involvement of the user.

NSYNC, the iconic American boy band that captivated the late '90s and early 2000s, might be making a comeback. Lance Bass, one of the group's former members, recently shared insights about the potential reunion on the online game show Rent Free with Ankur Jain. Amid swirling rumors and a notable comeback performance at the 2013 MTV Video Music Awards, NSYNC enthusiasts are eager to know if the beloved boy band is gearing up for a reunion.

In the recent state elections, incumbent governments in all except Madhya Pradesh lost. There are many factors that influence the electorate’s voting behaviour, with economic performance being important but not the sole one. So, drawing any conclusion on the relative performance of states based on election results is unlikely to yield fair conclusions.

The brokerage has been cautious on the mid- and small-cap space for the last three to four months, and following the recent rally, it believes that mega-cap stocks are also no longer value propositions. “It would appear that investors are taking their cues from incremental developments and events and ignoring the fact that absolute valuations may already be pricing in the positive developments (real or even purported),” said Kotak in a note to clients. While the Nifty 50 index has gained a little over 20% so far in 2023, the broader market has seen a significant outperformance, with the NSE Midcap 100 gaining over 45%, and the NSE Smallcap 100 surging nearly 55%. Automobiles and their components, electric utilities, and IT services are among the sectors that have the maximum distortion in terms of price and value, and it would be best if these sectors were avoided, it said. The brokerage cited Bharat Heavy Electricals and NTPC as examples of exuberance among investors, terming the valuations of these state-owned companies on the higher side “by a distance”. While absolute valuations remaining ‘high’ should drive a convergence between prices and value, the current divergence in the market could be sustained if investor sentiment continues to overpower fundamentals, according to Kotak. “The year could finally see a convergence between price and value or a continued large disconnect between price and value, the case for the past 6-9 months,” the brokerage said on Thursday. Incremental news flow that could sustain this ‘price-value’ gap includes the country’s macroeconomic fundamentals, expectations of lower interest rates globally, and the reduced risk of elections after the BJP’s strong performance in the recent

Shumang Leela (Meitei courtyard theatre) artistes have changed their occupation for a living. While some of them have begun driving auto rickshaw, others have taken up construction works like masonry etc., said lifetime secretary of Manipur State Shumang Leela Council, Shougrakpam Hemanta, who is also a comedian of the theatre group, on Thursday. In such a tough situation besieging the ill-starred artistes, Shumang Leela promoters expressed apprehension that the age old traditional form of theater will die if the violence spanning more than seven months continues unabated. The unique feature of Shumang Leela is that male artistes, in their group, play the roles of females, while women artistes, in their group, play male roles. Originally, Shumang Leela started as a comic genre presented to the kings and noblemen which ultimately developed into the current form, and over the years, it has become a powerful medium for mass education apart from providing entertainment as well as relaxation. Hemanta said that there are 15 male Shumang Leela groups and around 18 female groups in the state, and each group has nearly 20 artistes.

Also Read: Smallcaps in Review | From BSE to Angel One, here are the top 10 smallcap gainers of 2023; check full list Healthy inflow from domestic institutional investors (DII) and foreign institutional investors (FII) brought back confidence in the market. Consequently, the key domestic benchmarks Sensex and Nifty 50 continued reaching multiple records and gained nearly 20-22 per cent in the last one year.

Wedbush raised its price target for tech giant Microsoft (NASDAQ:MSFT) to $450 from $425 in a note to clients Thursday, maintaining its Outperform rating on the stock. Analysts declared in their note that Microsoft's "'iPhone moment' is here."

Bank of America reviewed Huawei-owned AITO’s M9 SUV following the vehicle’s official launch on December 26th. AITO is offering the M9 in both EREV and BEV versions available in Max and Ultra variants.

₹50,000. There are many luxurious and varied watches for Men and Women, available, ranging from well-known brands like TAG Heuer, which is famous for its Formula 1 series that combines sportiness and luxury, to Tissot's Le Locle line, which features Swiss design elegance. While HUGO line combines American flair with Swiss accuracy, appealing to those seeking culture with a new twist, Longines' Conquest series represents a combination of performance and grace.

Also Read: Apple shares climb 0.7%, registering an intra-day record high of $199.62 The Nasdaq jumped 32 per cent in the first six months of the year, driven by Apple’s rally and chip major Nvidia’s boom, marking its best first half in the past 40 years. However, the tech stock’s price rally has continued ever since, helping the largest players in the market to add trillions of dollars to their stock values. According to YCharts data released by Stocklytics.com, the combined stock value of Apple, Microsoft, Alphabet, Amazon and Meta, the world’s five largest tech companies, amounted to $6.17 trillion in December last year.

Virat Kohli has achieved another remarkable feat, breaking the record set by Sri Lankan legend Kumar Sangakkara for scoring over 2000 runs in international cricket the most times in a calendar year. Kohli achieved this milestone during the ongoing test match against South Africa. During the match, Kohli crossed 2000 international runs milestone.

N Chandrasekaran in his new year message to employees. «Now that we know what we have to do, and our plans have momentum, we need to think hard about how we can execute flawlessly and with speed». «The next decade will belong to companies who excel in giving customers excellent experiences. With our growing footprint in consumer businesses, we have to bring empathy to every interaction—be that in Air India, Tata Motors or Titan. Brand Tata must be recognisable across all companies. And our group’s aim should not be merely to adopt, or adapt to, technology. We need to shape it, and make it. This New Year, I urge each company to appoint an AI champion to proactively pursue the benefits of AI—economically, operationally and socially,» he said.

Bank credit growth is expected to remain healthy at 12-13 per cent in the next fiscal, rating agency ICRA said while maintaining a positive outlook on the banking sector. In a statement, ICRA said the positive outlook on the banking sector is mainly driven by comfortable asset quality levels, with both corporate and retail portfolios performing well in terms of delinquencies, resulting in limited net-NPA additions.

The digital tenge, which represents Kazakhstan's pioneering venture into central bank digital currencies (CBDCs), has completed its pilot project, which lasted for a month. This groundbreaking endeavor into digitizing the national currency, which represents a huge shift in the landscape of Kazakhstan's financial technology systems, is an important milestone. The accomplishment of the project serves as a guiding light leading to the possibility of future developments in applications using digital money.

Strong consumer demand will help India retain its spot as the fastest-growing economy in 2024 despite global headwinds, industry body Associated Chambers of Commerce & Industry of India said Thursday. The chamber noted that consumer demand would likely drive investment in construction, hospitality, and infrastructure, including railways and aviation. “India Inc., led by financials, construction, hotels, aviation, automobile and other manufacturing areas like electronics, are on a strong pitch to further improve performance in the new year,” the body noted in a statement, pointing to low crude oil prices helping drive growth. Construction and infrastructure-related sectors have received a push, with the government capex spending rising so far in FY24. “Sectors like construction have several related industries which too have gained momentum.