Provident Financial News

Notwithstanding the fact that nine out of 10 individual futures and options (F&O) traders end up losing their capital, stock exchanges BSE and NSE have seen a sharp surge in retail derivative trading, supported by introduction of multiple index options. Earlier, option traders used to focus only on Thursday as being the weekly option expiry for two key indices Nifty and Bank Nifty, but now every day is a weekly expiry day. Option buyers and sellers now have multiple options to choose from. Here's how the derivative expiry calendar looks like now:

Peanut" from a no-kill farm in Michigan, USA, has officially been recognized as the world's oldest living chicken, as per the Guinness World Records. Born 21 years ago, Peanut earned her unique name due to her initial rejection by her mother, resembling an abandoned «nut.» The compassionate couple who adopted her affectionately christened her Peanut, and today, she resides in their living room, defying the odds. Chickens typically have a lifespan of just 5 to 8 years, making Peanut's record truly extraordinary. Her journey to Guinness World Records glory demanded six months of meticulous documentation, including photos, videos, and statements. Despite her diminutive size, Peanut holds a special place in the hearts of her owners.

Old Bridge Capital Management (OBCM), a portfolio management firm, has received the final nod from markets regulator Sebi to commence its mutual fund business.Its asset management business has been named as Old Bridge Mutual Fund. «We are delighted to receive this license to commence operations for Old Bridge Mutual Fund and will be launching our maiden actively managed equity scheme. As we move forward with our newly acquired license, we remain committed to providing investors with long term investment solutions on its mutual funds platform as well,” said Kenneth Andrade, Founder, Old Bridge Capital Management. Andrade used to manage mutual fund schemes for 10 years during his earlier stint at IDFC Mutual Fund. He was also considered a star mutual fund manager. One of his schemes, IDFC Premier Equity Fund, delivered a CAGR growth of 22.3% over the ten-year period. He left the fund house in 2015 to start his own portfolio management scheme.

premier portfolio management firm , today announced that it has received the final approval from the Securities and Exchange Board of India (SEBI) to commence its mutual fund operations under Old Bridge Mutual Fund. Kenneth Andrade , Founder of OBCM said "We are delighted to receive this license to commence operations for Old Bridge Mutual Fund and will be launching our maiden actively managed equity scheme. As we move forward with our newly acquired license, we remain committed to providing investors with long-term investment solutions on its mutual funds platform as well".

Five-Star Business Finance, incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 21006.79 Crore) operating in NBFC sector. Five-Star Business Finance key Products/Revenue Segments include Interest, Fees & Other Charges and Income From Sale Of Share & Securities for the year ending 31-Mar-2022.Financials For the quarter ended 30-06-2023, the company has reported a Standalone Total Income of Rs 483.57 Crore, up 10.08 % from last quarter Total Income of Rs 439.29 Crore and up 42.62 % from last year same quarter Total Income of Rs 339.06 Crore. Company has reported net profit after tax of Rs 183.71 Crore in latest quarter. Investment RationaleFive Star Business Finance’s FY23 annual report provides an insight on how it is progressing towards its vision of “reaching the unreached through suitable credit solution” and capturing the INR 22trn MSME lending opportunity.

Former ASIC chairman Greg Medcraft has urged the leader of the ASX’s new clearing and settlement advisory group, Alan Cameron, to make sure the exchange does not abandon blockchain technology and be left behind in the global capital markets technology arms race.

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challan number, etc. are correctly filled in the income tax challan. Now, the income tax department has launched a new feature on the income tax return (ITR) portal to correct mistakes in the income tax challan. Do keep in mind that you can only use this feature within seven days of making the income tax payment. If the mistake has to be corrected after seven days, the old process (offline method) has to be followed. According to Milin Bakhai, Associate Partner, N.A. Shah Associates, a Mumbai-based chartered accountancy firm, “The new feature of online challan correction is applicable in respect of challan pertaining to AY 2020-21 (FY 2019-20) and onwards. This means that if an individual is making a tax payment related to AY 2020-21 or any year after that now and a mistake has been made. In such a case, specific corrections can be done online within a specified time period instead of visiting the income tax office.”

₹1 lakh to FMCG major ITC. A Chennai-based consumer forum directed ITC Limited to pay ₹1 lakh for packing one biscuit less in a 16-biscuit "Sun Feast Marie Light" pack. A Chennai-based resident bought ‘Sun Feast Marie Light’ biscuits to feed stray dogs.

₹695-735 per share and the offer will close on Friday, September 8. Jupiter Life Line IPO issue size is ₹869.08 crore which comprises a fresh issue of equity shares worth ₹542 crore and an Offer For Sale (OFS) of 44.5 lakh equity shares by promoter group entities and other shareholders. The lot size for the Jupiter Life Line Hospitals IPO is 20 shares and the minimum investment amount required by retail investors is ₹14,700.

A Chinese central bank chief has claimed the digital yuan will revolutionize the way the nation makes retail payments, and suggested the CBDC could one day “completely replace” cash.

Investing.com-- The Australian economy grew a touch above expectations in the second quarter, data showed on Wednesday, as strong exports and infrastructure spending helped offset the impact of sticky inflation and high interest rates.

Indian stock market is likely to open on a cautious note Wednesday following mixed global cues. The trends on Gift Nifty indicate a flat-to-positive start for the Indian benchmark index. The Gift Nifty was trading around 19,669 level as compared to the Nifty futures’ previous close of 19,650.

Day trading guide for today: Domestic equity benchmarks Sensex and Niftysettled higher in the previous session for the third straight day amid positive domestic macroeconomic data. Domestically focused mid-caps and small-caps outperformed the blue-chips setting record highs. The 30-share BSE Sensex ended higher by 152.12 points or 0.23 per cent at 65,780.26 level on Tuesday, September 5, while the Nifty also closed at 19,574.90 level, up 46.10 points or 0.24 per cent.

A former PwC tax partner named by the firm as one of four senior personnel who appeared in emails associated with its tax leaks scandal has launched his own practice to provide advice to a group of clients who have stuck with him over the past three months.

Less than three weeks after Spain won the Women’s World Cup, the Spanish soccer federation on Tuesday fired national team coach Jorge Vilda, as it attempted to repair the damage caused by federation head Luis Rubiales’s forcible kiss of a player during the celebrations. Spanish soccer’s governing body didn’t give a reason for Vilda’s exit, simply stating that he had been dismissed.

In early 2019, Wyoming enacted legislation authorizing the creation of state-chartered banks catering to firms doing business with bitcoin and other cryptocurrencies. The banks would serve as custodians of digital assets and take dollar deposits, forming a bridge between cryptocurrency and dollars for firms to make payroll and payments, or help realize crypto investment gains or losses. Four years later, the Cowboy State’s experiment with state-chartered crypto banking has gone slower than expected.

Stocks that traded heavily or had substantial price changes on Tuesday: Manchester United, America’s Car-Mart fall; Insmed, Brady rise

Information theft is on the rise

It’s a transaction that would be commonplace for a corporation or a sports team, but it’s the kind of deal that is practically unheard of in the nonprofit sector

New Delhi: The union minister for new and renewable energy RK Singh on Tuesday that India can become the refuelling destination for green ships run on green hydrogen. Addressing a conference on green hydrogen pilots in India organized by NTPC, the minister said that many green hydrogen pilots are going on in India and across the world. We have pilots for green steel and in heavy duty transportation and global shipping will go green within the next 10 years.