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Saurabh Mukherjea, Founder & CIO, Marcellus Investment, says a new India is being born – the challenger franchises, roughly 6,000 companies below the top 800. The top 800 companies are the rulers, they make profits of around $60 million. But the fastest profit growth in the country is in the 6,000 companies below the top 800. According to Mukherjea, their job, in the last year, increasingly has been to load up on these new businesses as India's profit landscape changes dramatically. What are the key highlights of your new report and research study and what triggered it? Saurabh Mukherjea: What triggered it is in the two years after COVID, we realised that while the investee companies were continuing to generate 20% profit growth, there was a whole ecosystem of smaller companies – around 6,000 smaller companies – which are growing profits at 30-35%. These are not PE or VC-funded companies but were perfectly ordinary smaller companies that are growing profits at a rapid rate.

private equity and venture capital world is in the crosshairs of the goods and services tax (GST) office. About a dozen such alternative investment funds (AIFs) have recently received notices, with the revenue department questioning why their schemes, housing the fund pools, are not registered under GST. These funds raise huge money every year and bankroll thousands of startups and listed companies.

According to the community, Mememagic’s upcoming token sale will release 10 billion Mememagic (MMMG) tokens for public sale, aiming to establish an open, decentralized, community-driven economy. The token sale, set to commence on June 27th at 08:00 UTC, has the primary objective of achieving an appropriate price for the MMMG token and showcasing its real-world functionality.

In a London Stock Exchange notice issued today (4 July), the company said Denny's appointment was effective immediately. Denny worked at Fidelity for 16 years, originally starting in the firm's retail platform business as a customer services associate before being promoted up the ranks. Apax Global Alpha launches €30m share buyback as part of newly created distribution pool He left the firm to join Pantheon Ventures in October 2022 as a managing director of the European private wealth team, a role he departed after just over a year in February 2024 to join Nurole as head of investm...

NEW DELHI : Private companies spending lakhs of rupees on training their employees may receive an additional boost in the upcoming budget to ensure their workers are skilled enough to be among the world's best. The finance ministry is evaluating a proposal to incentivise private companies to train and upgrade the skills of their workers, two officials aware of the development told Mint.

Pankaj Tibrewal, Founder & CIO, IKIGAI Asset Manager, says durables, some of the value retailers, and some of the names on the staple side would be a good way to create a basket to see the revival in consumption over the next 12-18 months. What is the outlook on the defense basket, the darling of the market last year? For instance, on Thursday we did see quite a bit of fervour building up into these stocks. Are you looking at this space for the long haul as well?

Reasons to buyReasons to avoidThe TUSA Digital Car Tyre Inflator is a reliable and efficient inflator suitable for various types of vehicles. With a digital display and automatic shut-off feature, this inflator is easy to use and provides accurate results.Reasons to buyReasons to avoidThe Bergmann Typhoon Digital Heavy-Duty Tyre Inflator is a robust and powerful inflator designed for heavy-duty use.

The Securities and Exchange Commission last week revoked the license of Lufkin Advisors of San Mateo, Calif., after charging the firm and its owner, Chauncey Lufkin, with fraudulent conduct involving crypto assets and private funds.

companies in India are tapping the talent pool of ex-service personnel as they embark upon the next phase of growth. Reliance Industries hired nearly 2,000 ex-service personnel in FY24, up by a third in one year. At 7,500, it employs the largest number of former defence forces personnel in any Indian company. According to industry sources, several Tata Group companies, automakers such as Maruti Suzuki, and others like the Adani Group, RPG Group, Vedanta, Sodexo and state-run ONGC hire ex-service personnel.

China's AI sector showed confidence this week at a major fair in Shanghai that it would overcome restrictions imposed by the West, with companies rolling out cutting-edge products developed by a growing pool of young talent. The country's generative AI industry has shown explosive growth, with the United Nations reporting China has in recent years been the top filer of patents for AI software that creates everything from illustrations to computer code.

Asset management companies (AMCs) in Gift City, Ahmedabad, are set for a major boost following a crucial regulatory change by the Securities and Exchange Board of India (Sebi). By eliminating the restrictive 50% cap on investments from Indians abroad in India-focused funds, Sebi has removed a significant hurdle that has long impeded the growth potential of these funds. For years, AMCs faced a stringent requirement: for every dollar accepted from non-resident Indians (NRIs) and overseas citizens of India (OCIs), an equivalent dollar had to be sourced from foreign investors.

T20 World Cup final on Saturday, a 1,000-strong audience cheered for esports champions at the Battleground Mobile India (BGMI) series event at Hyderabad. This signifies the increasing popularity of such pursuits even in a cricket-crazy nation like India.

ICC T20 World Cup title by beating South Africa by seven runs at Barbados on Saturday.

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asteroid 2011 UL21 came close to the Earth at the speed of around 58,000 miles per hour and crossed it at a distance of 4.1 million miles without any impact, the question looming large is- what next? The asteroid passed the Earth approximately 17 times farther away than the moon. But this distance is not too much in astronomical science, where distance is measured in light years. European Space Agency has predicted that a 50-metre-wide asteroid, known as 2023 DW, may visit us on February 14, 2046. Discovered on 26 February, it has a one-in-607 chance of affecting Earth. So, what the rendezvous on Valentine’s Day after more than two decades will be like?

T20 World Cup 2024 championship. India aims for its second T20 title following a decisive 68-run victory over reigning champion England. South Africa, appearing in its first T20 World Cup final, hopes to make history.

Vedanta Resources Ltd. can take back control of the Konkola copper project in Zambia after a court sanctioned a plan to settle debts owed to the mine’s creditors. A court in Zambia’s capital, Lusaka, on Friday approved a scheme of arrangement that was supported by Konkola Copper Mines Plc’s creditors, the southern African country’s mines minister, Paul Kabuswe, said on Facebook. Billionaire Anil Agarwal’s Vedanta has been trying to regain the major copper asset since 2019, when KCM was put into provisional liquidation after the previous government accused its owner of lying about expansion plans and paying too little tax. To get access to the mine again, Vedanta now needs to follow the court ruling by releasing $250 million to settle debts that KCM owes to contractors and suppliers. Vedanta told Bloomberg this week that it stands ready to start making the payments. Agarwal’s firm has also committed to investing $1 billion over five years to complete expansion projects.

JP Morgan bond index got off to a muted start with a lower-than-expected quantum of foreign flows on Friday, belying expectations of an immediate deluge. Bankers, including a top executive at the US bank, said however that overseas investment worth billions will steadily be pumped into the debt market of the world's fastest-growing major economy. Indian bonds debuted in JP Morgan's GBI-EM global index suite on Friday, with the country expected to reach a maximum weight of 10% in the GBI-EM Global Diversified Index over a 10-month period. JP Morgan's analysts expect foreign investment worth $20-25 billion to flow to the local bond market from the move.

Club Mahindra review from one of our valued customers who has experienced the magic of the Club Mahindra holiday.Experience with Club Mahindra resorts:When it comes to family vacations, finding a place that caters to everyone’s needs can be a challenge. However, Club Mahindra's resorts have long been touted as ideal destinations for families, thanks to their diverse locations, excellent amenities, and range of activities. Check-In Experience of Club Mahindra Resorts:The check-in process at Club Mahindra Resorts is generally seamless.

Tipi Penthouse Suite is available for guests to stay in during this year's Glastonbury Festival. This five-day suite, which costs £28,000, has five double bedrooms, a dining area, and an en suite shower room. At an additional cost, it can accommodate up to six guests over its initial capacity. Exclusive features of the Tipi Tenthouse Suite include an a la carte restaurant and a spa with saunas, pools, and hot tubs. It has big windows, wooden doors, and a carpeted floor for extra comfort. Deckchairs are available for guests to lounge on while they take in the British summer weather.

Margex, a popular derivatives crypto exchange, has just announced a $5,000,000 $HMSTR airdrop for its customers.