Provident Financial News

At some of the world’s biggest asset managers, ESG fund launches are quietly stalling.

Disclaimer: The text below is an advertorial article that is not part of Cryptonews.com editorial content

Disclaimer: The text below is an advertorial article that is not part of Cryptonews.com editorial content

Maha Vikas Aghadi (MVA) of the Congress, Shiv Sena (UBT) and the NCP (SP), which appeared to be struggling with coordination, roundly beat the Mahayuti. This triggered a lot of rethinking within the Mahayuti. Now, there are signs of another shift in the political landscape before the upcoming assembly polls.

bill mandating reservation for Kannadigas in the private sector, sparking an uproar. The decision was taken at the Cabinet meeting held on Monday and was subsequently put on hold after backlash from business honchos and tech tycoons. Karnataka chief minister Siddaramaiah said in a post on X, “The bill approved by the cabinet to provide reservation for Kannadigas in private sector organizations, industries and enterprises has been temporarily put on hold.”

A senior CR official told TOI stated that this adjustment would enhance overall operational efficiency. Currently, Central Railway operates 894 services on its main line, including 623 slow services and 271 fast services, with many starting from Chhatrapati Shivaji Maharaj Terminus (CSMT).

1. LG 32LM563BPTC Smart LED TV The LG 32LM563BPTC is a budget-friendly smart TV currently discounted on Amazon Prime Day sale.

Sterling and Wilson Renewable Energy Ltd on Thursday posted a net profit of Rs 4.83 crore for the June quarter. It had clocked a net loss of Rs 95.32 crore in the year-ago period, the company said in an exchange filing. The company's total income rose to Rs 927.89 crore from Rs 522.35 crore in the same quarter a year ago.

Uniform Civil Code and any move that does not consider the views of all sections is a forced one and hence against the Constitution, says Samajwadi Party MP Maulana Mohibullah Nadvi. In an interaction with PTI editors at the agency's headquarters here, the imam of the Jama Masjid across the road from Parliament also said issues of the Muslim community were the same as that of other sections in the country and education and health have to be a priority for development. The Rampur MP, whose Lok Sabha polls candidature caused a flutter with SP veteran Azam Khan reportedly opposing it, hailed Khan as a big leader of the state, party and Rampur. «There was no opposition, the election was fought with everyone's support. I did not face any such thing (opposition). There are no differences with him,» he added

budget, global markets are buzzing with anticipation. Stakeholders in the urban development sector are especially hopeful for policy reforms and fiscal support from the Central Government under Modi 3.0. Following an 11% increase in infrastructure capital allocation in the interim budget, significant advancements in urban development are expected. With India’s urban population projected to reach 600 million by 2030, the demand for quality infrastructure and basic amenities in cities is soaring. The focus on urban development in India is anticipated to continue, with initiatives aimed at enhancing infrastructure and the quality of life in urban areas. The Government of India has been actively emphasising the enhancement of infrastructure, housing, and technology integration to boost overall urban living standards. Accordingly, there are several key expectations of the industry stakeholders related to the advancements in the urban development sector in India from the upcoming Budget 2024, which may be summarised as below -

Azad Engineering, domestic brokerage firm ICICI Securities has hiked the target price of the multibagger stock to Rs 2,450 as the long term prospects for the company seem appealing. The domestic brokerage firm believes that the company is at a vantage point for healthy earnings growth as they have execution visibility on the upcoming 95,000 m2 facility. Azad Engineering is targeting a market share of up to 10% in the long run (currently 1%) in light of significant TAM and expects the recent order for ATGG engine to be a significant step in the next leg of growth.

South China Sea this week to successfully rehearse anti-submarine operations, naval combat and providing air defence to vessels, Russia's TASS news agency reported on Thursday. TASS cited a statement from Russia's Pacific Fleet as saying that the drills — dubbed 'Maritime Cooperation 2024 — had now finished. The opening ceremony of the exercise took place in the Chinese port of Zhanjiang, the Russian defence ministry said earlier this week.

Ratings agency Moody’s has announced it will be involved in the Monetary Authority of Singapore (MAS) backed project Guardian by providing risk management services for tokenized fixed income products.

NASA and Elon Musk’s company on Wednesday outlined the plan to burn the space station up on reentry and plunge what’s left into the ocean, ideally at the beginning of 2031 when it hits the 32-year mark. The space agency rejected other options, like taking the station apart and bringing everything home or handing the keys to someone else.NASA gave SpaceX a $843 million contract to bring down the station — the biggest structure ever built off the planet.The space station is already is showing signs of age. Russia and the U.S.

₹12.2 trillion stuck in various tax squabbles, experts said. “Over the past seven years, India's tax framework has undergone significant reforms, yet a persistent challenge remains—the substantial amount of money entangled in litigation," said Saurabh Agarwal, a tax partner at EY, referring to the ₹12.2 trillion, as per data from previous budget documents. “This issue causes financial strain for both taxpayers, who must bear interest on pending liabilities, and the government, which is deprived of these funds for developmental purposes.

A wealth manager in Bengaluru chooses to invest the vast majority of his clients’ money through portfolio management services (PMS). Of the ₹2,000 crore he manages, just ₹4 crore is in mutual funds and the rest in PMS. Mint caught up with Ramanan Venkateswaran of Pygmalion Renaissance to find out why.

Collective Artists Network, India’s leading new media entity centred around pop culture, has acquired Galleri5, an AI-powered influencer marketing analytics and content management platform for brand and influencers. Collective Artists Network has been undertaking strategic acquisitions to scale the creator and content ecosystem. Earlier this month, Collective Artists Network acquired Terribly Tiny Tales, a text-first flash fiction platform.

Budget 2024, scheduled in July, one may expect the government to continue with its objective of moving towards a simplified tax system through the new tax regime (NTR) that was introduced in Union Budget 2020-21. With a view to make the NTR more attractive for individual taxpayers, the government could consider taking measures such as increasing the standard deduction limit from Rs 50,000 to Rs 100,000; including health insurance premium (u/s 80D) in this regime and enhancing the deduction limit available to promote adoption of adequate health insurance cover. Besides, an increase in deduction limit for employer's contribution to the National Pension System (NPS) u/s 80CCD(2) from 10% of basic salary to 14% will be a welcome move. The enhancement of this deduction will ensure parity with the provision applicable for central and state government employees and would provide an option for enhanced tax saving under the new tax regime, along with promoting long-term retirement savings. However, in case the government continues with the old tax regime as an option, it will be important to rationalise some of the tax provisions. One such provision will be to consider Bengaluru as a «metro city» for the purpose of HRA exemption in Budget 2024.

IDBI Bank ahead of the Union Budget 2024 and all eyes are now on Finance Minister Nirmala Sitharaman. The Narendra Modi government had set the ball rolling for divesting its stake in the development financial institution-turned bank in May 2021. Since then, the Centre has been waiting for the green signal from the RBI as the central bank assessed if the bidders met the fit and proper norms. These norms check if the bidders are compliant with regulations and are not under the scanner of other regulators. The central bank has given its report on all but one bidder which happens to be a foreign participant, which did not share information and the overseas regulator too has not provided data, TOI on Thursday reported. With the current market cap nearing Rs 95,000 crore, the Centre could potentially realize around Rs 29,000 crore from the disinvestment. However, several observers have noted that the transaction terms are not very attractive.

HDFC Defence Fund, the only active fund based on the defence sector, has offered more than 100% return in the last one year. The scheme gave 128.52% return in the said period. The scheme has offered around 60.16% return in 2024 so far and around 55.25% return in the last six months. What is helping defence sector based mutual funds deliver this stellar performance?

Indian Navy warship INS Teg is actively engaged in a search and rescue operation off the coast of Oman after an oil tanker capsized on July 15. As of now, the mission has successfully rescued eight Indian nationals and one Sri Lankan from the stricken vessel. The Indian Navy continues to search for additional crew members who remain missing. The operation was launched immediately after the tanker capsized, with INS Teg deploying advanced equipment and personnel to locate and assist the remaining crew. The Navy has coordinated with local Omauthorities and international maritime agencies to enhance the search efforts.