Provident Financial News

Register here: https://app.gmx.io/#/trade/?ref=PROGMX functions as a decentralized spot and perpetual exchange, boasting minimal swap fees and negligible price impact on trades. Its trading infrastructure relies on distinctive multi-asset pools, allowing liquidity providers to earn fees from market making, swap transactions, and leveraged trading.

workspace operator India Accelerator has added 250,000 sq ft across 7 centres in Pune, Gurugram and Noida. The company has added 3200 seats in Noida, 900 seats in Gurugram and 400 seats in Pune. With presence in multiple locations, India Accelerator has grown its portfolio to over 200 startups. This expansive network enables startups to benefit from shared knowledge, resources, and collaboration opportunities, driving innovation and success across the board. «This expansion with an investment USD 4 million will enable us to cater to a wider audience of innovators, creators, and entrepreneurs, providing them with the infrastructure and support they need to thrive,” said Abhay Chawla, co-founder and COO, IndiaAccelerator.

European Space Agency (ESA) has released an image of the Ram Setu, also known as Adam's Bridge, captured by its Copernicus Sentinel-2 satellite. This chain of shoals stretches 48 km, connecting Rameswaram Island in India and Mannar Island in Sri Lanka. It separates the Gulf of Mannar from the Palk Strait. The satellites carry an innovative wide swath high-resolution multispectral imager with 13 spectral bands and provide a new perspective of land and vegetation.

HDFC Mutual Fund has launched HDFC NIFTY100 Low Volatility 30 Index Fund, a passively managed fund that aims to track the NIFTY100 Low Volatility 30 Total Returns Index. The new fund offering or NFO is open for subscription and will close on July 5. The scheme will re-open for continuous sale and repurchase within five business days from the date of allotment of units under NFO. The investment objective of the scheme is to generate returns that are commensurate (before fees and expenses) with the performance of the NIFTY100 Low Volatility 30 Index (TRI), subject to tracking error.

Ukraine is set to officially launch membership talks with the European Union later on Tuesday

Also Read- Amara Raja shares hit 20% upper circuit after subsidiary signs licensing deal with GIBThe government has received around Rs1.5 trillion in fiscal support since the interim budget presentation on February 1st, primarily due to the extra RBI dividend of Rs1.2 trillion.Secondly, the actual fiscal deficit for FY24 was 25 bps lower than estimated in the February'24 budget. The buoyancy from income tax adds almost ₹300 billion to the cushion.

Amar Kalkundrikar, Fund Manager, Nippon India Mutual Fund, says at Nippon the consumption thematic is about investing into companies that provide branded goods and services to consumers. It is a play on rising incomes, aspirations, and brand consciousness of Indian consumers. As their incomes rise, consumers are interested in premiumising their experiences across categories; they go for branded products and are willing to pay for it. That is the sort of behaviour we want to capture in our portfolios. Kalkundrikar further says Nippon MF has increased exposure to sectors where mass consumption revival should benefit, that includes basic FMCG, QSR, automobiles, where we have seen recovery already starting and of course, some of these home improvement categories.

Amara Raja Energy surged 20% to its new all-time high of Rs 1,655.20 after the company announced a strategic technological collaboration with Gotion High-Tech’s subsidiary, GIB EnergyX Slovakia, for the licensing of its LFP technology for lithium-ion cells. This agreement will enable Amara Raja to manufacture world class LFP cells in both cylindrical and prismatic form factors, according to the company’s filing to the stock exchanges.

Quant Mutual Fund is currently under investigation by the Securities and Exchange Board of India (SEBI) for suspected front-running. This illegal practice involves fund managers placing their own orders before executing large trades to profit from the anticipated price movement.

Tax season might seem complex! In India, you aren’t required to file a return if your income is below the basic exemption limit, which varies based on your age and chosen tax regime.

In recent years, with the steady growth of financial literacy and access to financial markets, mutual funds (MFs) have become an incredibly popular option for Indian investors. They often serve as the preferred avenue of investment for individuals seeking to grow their wealth. In fact, according to the Association of Mutual Funds in India, on April 30, 2024, the Assets Under Management (AUM) of the Indian Mutual Fund Industry stood at a monumental ₹57.26 trillion. With the AUM only standing at ₹9.45 trillion on the same date in 2014, we can see that growth during the past decade has been extraordinary.

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Stocks that traded heavily or had substantial price changes on Monday: RXO, Alnylam Pharmaceuticals rise; ResMed, Sonoco Products fall

The United Nations chief has launched global principles to combat online hate and lies and demanded that big tech companies use their power to reduce the harm they are doing to people and societies around the world

The Biden administration announced new steps to increase access to affordable housing

Car dealerships across North America are still wrestling with disruptions that started last week

Arkansas has sued two pharmacy benefit managers, accusing them of enabling the opioid crisis in the state

Lxme, a financial platform exclusively for women, has secured $1.2 million in seed funding, in a round led by Kalaari Capital through its CXXO initiative, which supports ventures led by women entrepreneurs. Notable investors participating in the round include Yash Kela, founder and chief investment officer of Singularity Ventures; Amaya Ventures; Capri Holdings; and Aditi Kothari, vice chairperson of DSP Asset Managers, among others.

Beckn-ONIX (Open Network in a Box), an open-source stack that enables rapid deployment and configuration of Beckn-enabled networks through a virtual appliance, can now allow anyone to build an open network in minutes, ensuring faster rollouts of networks, be it in agriculture, energy, healthcare or ecommerce, said a company executive. Created by the Bengaluru-based non-profit Foundation for Interoperability in Digital Economy, the Beckn protocol powers e-commerce networks like the Open Network for Digital Commerce (ONDC). Launching a basic open network involves setting up a registry, gateway, consumer app, and provider app, and can typically take a month to a few weeks.

Cloudphysician, an online healthcare and technology solutions provider, has raised $10.5 million (about Rs 87.7 crore) in a funding round led by Peak XV Partners. The round also saw participation from Elevar Equity and venture debt firm Panthera Peak.

class-action lawsuit filed by “Sunday Ticket" subscribers against the NFL is expected to begin deliberations on Wednesday after both sides wrapped up their cases on Monday. U.S. District Judge Philip Gutierrez will have a conference with attorneys for both sides Tuesday morning to determine final jury instructions.