Provident Financial News

Star PMS fund manager Deepak Shenoy says he is investing in 5 strong megatrends in his Surge India Portfolio — manufacturing, energy independence, consumption, financialization of savings and infra growth. «It’s always difficult to find good companies, but there are enough tailwinds in a surging Indian economy to provide disproportionate growth in a few “maha” trends that we think are still very attractive,» he says. Edited excerpts from a chat with Deepak Shenoy, CEO and Founder, Capitalmind:

Nifty index opened positively on Tuesday. After trading within a narrow range for the first couple of hours, bulls surged, pushing it to a fresh all-time high of 23,754. The index formed a bullish candle on the daily chart and achieved its highest-ever closing level. It traded approximately 1% higher compared to the previous week, marking a new record high following seven consecutive trading sessions of consolidation.

Indian-American couple to prison for coercing their relative to work at their gas station and convenience store for over three years by bringing him to the United States on the pretext of helping enrol him in a school. Harmanpreet Singh, 31, was sentenced to 135 months (11.25 years) in prison and Kulbir Kaur, 43, to 87 months (7.25 years) by the court that also asked them to pay the victim, his cousin, USD 225,210.76 (Rs 1.87 crores approximately) in restitution. The couple has since divorced. «The defendants exploited their relationship with the victim to lure him to the United States with false promises that they would help enrol him in school,» Assistant Attorney General Kristen Clarke of the Justice Department's Civil Rights Division said.

Pre-Budget Consultation with experts from the employment and skill development sectors to take suggestions for the forthcoming General Budget 2024-25, in New Delhi, on Tuesday. Leading names in the sector of skilling and employment such as Anshuman Magazine, Suchita Dutta, Sarvesh Agrawal, and Gayatri Vasudevan were present in the meeting. After the meeting, Anshuman Magazine, former Chairman of CII Northern Region and CEO-India, South East Asia, Middle East and Africa, Global Commercial Real Estate Services, said that the experts conveyed the need for skilled people. He said, «Basically the discussion was centered on skilling and employment generation. People from different sectors tabled their suggestions during the meeting. Considering the huge number of graduates coming out from the colleges, the experts suggested how can we make them job ready.»

Gold prices were flat on Wednesday as the dollar and Treasury yields held firm ahead of a key inflation reading due later this week, which could provide more clarity on the Federal Reserve's interest rate path. FUNDAMENTALS

Japan issued an emergency alert following a suspected ballistic missile strike by North Korea on Tuesday (local time). The information was given by the Japan Prime Minister's Office on social media platform X. Minutes later, the Japan PMO said the emergency alert was being lifted as the 'suspected ballistic missile' from North Korea was not expected to reach Japan.

German automaker Volkswagen Group will invest up to $5 billion in U.S. electric-vehicle maker Rivian as part of a new, equally controlled joint venture to share EV architecture and software, the companies said on Tuesday.

WikiLeaks founder Julian Assange was freed by a court on the U.S. Pacific island territory of Saipan on Wednesday after pleading guilty to violating U.S. espionage law, in a deal that will see him return home to Australia. During the three hour hearing, Assange pled guilty to one criminal count of conspiring to obtain and disclose classified U.S. national defence documents but said he had believed the Constitution's First Amendment, which protects free speech, shielded his activities.

Also read | Route Mobile to become $1 billion business: Proximus Group CEO Belgium-based Proximus Group, which has acquired a majority stake in Route Mobile, intends to double the group's revenues to $3 billion in 3-4 years, on the back of synergies from the new acquisition, Mint reported in May 2024. Within that, Route Mobile alone is expected to generate $1 billion in revenues, the report said.

Read here: Nvidia stock rebounds, lifts Nasdaq higherLast week, Nvidia briefly became the world’s most valuable company, surpassing the market value of Microsoft. The company has positioned itself as the dominant provider of chips to support artificial intelligence applications and have made it emblematic of this year’s tech-driven boom in US stocks.Nvidia stock price is up 154% this year and has accounted for nearly 30% of the S&P 500’s year-to-date return as of Monday’s close, according to S&P Dow Jones Indices, Reuters reported.

JP Morgan index this week, with the pace likely to accelerate once the US starts cutting rates, Standard Chartered Bank's India head of financial markets said. «We have a different profile spread across clients. There are real money clients who may be investing in India off-benchmark. Then there will be the passive index trackers who will be the regular ones coming each month and we may see some large allocations come in intermittently. So, around $2-3 billion per month is what we expect,» Parul Mittal Sinha, head — financial markets, India & co-head, macro trading, ASA, Standard Chartered Bank, told ET.

One of the founding beliefs at Fairway Wealth Management is clients overseeing their own personal wealth enterprise that they’ve created.

Certuity, the multi-family office with locations in New York City, North Palm Beach, Manhattan Beach, and Santa Monica, has enriched its leadership with a veteran C-suite hire.

List of the best branded formal shoes for men

Since its launch in 2018, Zengo Wallet has quickly established itself as a leading wallet for convenience and security. The self-custody wallet stands out from the market by allowing users to control their digital assets without needing seed phrases or keys.

Modi 3.0 Budget 2024 Expectations: What are Finance Minister Nirmala Sitharaman's plans for taxpayers?The need to protect domestic industry from dumping of Chinese products featured prominently in the discussions."We represented our industry pain points, which are imports from China and the threats we face from China," said Ajay Sardana, chairman - National Expert Committee on Chemical and Petrochemical, Indian Chamber of Commerce."China has created a lot of overcapacity. After the pandemic, with the demand coming down, they are dumping products in India at a cheaper price.

Investors including ex-Facebook President Sean Parker are committing $80 million to take over Stability AI, an image-generation startup that took off with the artificial-intelligence boom but quickly ran into business problems. The investment group, which includes former Google Chief Executive Officer Eric Schmidt and early backers of London-based Stability, has struck a deal with suppliers to forgive some $100 million owed by Stability, according to people with knowledge of the arrangement. The investors also negotiated for the startup to be released from $300 million in future obligations, largely meant to go to cloud computing providers.

Ramsey Solutions personality Jade Warshaw breaks down how to get the most out of your Social Security check and more on The Bottom Line.

Whether you're looking for classic straight-leg, trendy slim-fit, or versatile tapered jeans, our curated list ensures you get the best value without breaking the bank. Join us as we navigate through top brands and hidden gems that deliver exceptional style and comfort, proving that great jeans are accessible to every budget.

Gyanendra Pratap Singh today said that around 200 officers of the Assam police have already received training on criminal forensic science. He was speaking during a workshop on the new criminal laws for Guwahati — based media persons in Guwahati. The workshop aimed to equip journalists with insights into the new criminal laws namely Bharatiya Nagarik Suraksha Sanhita, Bharatiya Nyaya Sanhita and Bharatiya Sakshya Adhiniyam — which will be implemented from July 1. Singh, addressing the media persons, said that the implementation of the new laws is a momentous occasion and Assam Police is fully prepared to implement them. Around 200 officers of the Assam police have already received training on criminal forensic science. The officers are trained on the applicability of new laws and how they should perceive them while dealing with the crime and cases related to it, he added. Over 500 officers will be trained over a period of few months. Singh further added that these criminal laws are updated to the needs and requirements of the changing times.

CNG systems during manufacturing, Honda will reportedly provide these kits through its dealerships as aftermarket add-ons. This approach allows flexibility for customers to retrofit CNG capabilities onto both manual and CVT transmission versions of the aforementioned models.Reportedly, the CNG conversion is likely to be priced between ₹75,000 to ₹85,000 inclusive of installation, and will include a one-year warranty from Honda dealerships, ensuring peace of mind for buyers.