Provident Financial News

demat account additions, mutual fund inflows, and a significant increase in their stakes in various stocks. As we all know, a demat account is essential for anyone venturing into the stock market (directly) for investing or trading. Similar to having multiple bank accounts, retail investors often open and operate multiple demat accounts.

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AlphaTrAI has announced a new president to help drive growth in its AI consulting and solutions business for the wealth and asset management industry.

Callan Family Office, a bespoke investment advisory firm based in Pennsylvania, has just achieved a significant asset milestone.

A duo of advisors formerly with Key Private Bank has joined boutique wealth manager Bison Wealth.

Kalyan Jewellers on Friday reported 34 per cent increase in consolidated revenue for the quarter ended March and a 31 per cent growth in the entire 2023-24 fiscal driven by better demand despite rise in gold prices. The company did not provide the actual revenue figures reported for the fourth quarter and entire FY24. Kochi-based Kalyan Jewellers, which has 253 showrooms across India and the Middle East, had posted a revenue of nearly Rs 3,400 crore during the fourth quarter of the last fiscal, and Rs 14,109.33 crore revenue for the entire 2022-23.

Hanwha Aerospace said on Friday it will spin off its semiconductor equipment and video surveillance businesses, carving out units that contributed about 16% to revenue in favour of focusing on its flagship defence division. The announcement sent the firm's share price down 8% in morning trade on profit-taking. The stock had jumped on Tuesday by more than 15% after local media reported the spin-off plan. Hanwha Aerospace said it will spin off chip equipment maker Hanwha Precision Machinery and surveillance camera maker Hanwha Vision, with the two businesses eventually merging into a single industrial solutions company.

If you’re an employee who’s in the process of preparing their 2023 tax return, you’ll no doubt soon come to realize that there’s not much tax planning we can do to reduce the tax payable on our employment income, all of which appears on a T4 slip.

Immigration Services (USCIS) has unveiled a temporary final rule (TFR) to make work permits more accessible to immigrants. This move builds upon recent efforts to modernize immigration processes, particularly regarding eligibility for employment authorization documents (EADs). Under the new rule, the automatic 180-day period for certain EADs will be extended to 540 days. This decision follows substantial improvements in EAD processing times over the past year, ensuring that work-authorized noncitizens do not face interruptions in their employment status while awaiting USCIS decisions on EAD renewal applications. By extending the validity period of EADs, the USCIS aims to maintain continuity for both immigrants and US employers. The Biden Administration has been actively working to integrate work-authorized individuals into the labor force, thereby supporting local economies.

Encouraging the audience of payments professionals and executive bankers to think differently, Birch will take to the stage – as many have done before him – to provide insight into the economic and political ramifications of the move towards digital money.

In its March 2024 FOMC meeting, the US Federal Reserve indicated that it would cut interest rates in the second half of 2024. Following the US Fed, the RBI is also expected to cut interest rates in the second half of 2024. Once that happens, the banks in India may also cut interest rates on fixed deposits.

Entering the realm of stock investing directly necessitates opening a 'demat' account. Functioning akin to a bank account, the demat account serves as a digital repository specifically for holding securities.

Angel One raised Rs 1,500 crore through qualified institutional placement of shares, which will help in funding its growth expansion plans. The Qualified Institutional Placement (QIP) received an overwhelming response from both domestic and foreign institutional investors, the brokerage firm said. Angel One allotted 58,70,818 equity shares to qualified institutional buyers at Rs 2555.01 a share. The QIP issue opened on March 26, and closed on April 2.

The BSE benchmark Sensex rose 20 points or 0.03% to settle at 74,248. The NSE Nifty gained 11 points or 0.05% to end at 22,525.

Blinkit, Albinder Dhindsa, announced on X that the firm is collaborating with Sony to distribute the recently released PlayStation 5 Slim edition game system, which was released in India on April 5. According to a press release from Blinkit, customers in Delhi NCR, Mumbai, and Bengaluru can now receive the brand-new PlayStation 5 Slim models and controllers delivered in ten minutes. Albinder Dhindsa, the CEO of Blinkit, also verified the collaboration in a post on X (previously twitter).

Airtel and Reliance Jio, found themselves on a new battlefront — the satellite communication or satcom, a futuristic technology that promises to revolutionise India's telecom sector. Companies such as Reliance Jio’s JV with Luxembourg-based SES; Starlink; Amazon; Bharti-backed OneWeb; and the Tata-Telesat combine are working on creating a constellation of satellites to deliver ‘broadband-from-space’ services in India. India's current telecom market has just two big players, Reliance Jio and Bharti Airtel, but satcom will attract more big players. Since satcom does not require installation of towers on earth, the entry barrier is not as formidable as it is in traditional terrestrial mobile telecom.

The resolution was put on the asset manager's annual proxy ballot in a bid to change its corporate bylaws to require an independent chair. BlackRock's Larry Fink: 'Portfolio of the future' includes private markets In the submission, Bluebell stated: «The CEO of BlackRock is also the chair. The role of the CEO is to run the company. The role of the board is to provide independent oversight of the CEO. Therefore, in general terms, there is an inherent conflict of interest for a CEO to act as her/his own oversight as chair.» «While each situation needs to be reviewed on a case-by-case...

In a letter to shareholders, Jupiter said that as of 19 April, the portfolio would be rebranded to the Jupiter UK Income fund. Managers of Jupiter Merlin range consider exiting Whitmore funds amid departure According to the firm, this reflects the «current investment policy of the fund, which is to invest at least 70% of fund assets in UK companies, and its investment objective to provide income together with the prospect of capital growth». This change follows new managers taking over the fund, as the strategy's longstanding lead Ben Whitmore is leaving the firm later this year to...

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Los Angeles but does not provide further details. "At trial, Jolie will prove through testimony, emails, photographs, and other evidence why Pitt was so concerned about his own misconduct that he blew up his own deal to purchase Jolie's interest in Miraval because she refused to agree to his new, expansive NDA," the filing reads.

The Print reported. The AAP convenor seems confused as he is trying to adjust inside the jail, a prison source told the news outlet, adding that senior resident doctors are also monitoring his blood pressure, weight, and sugar level twice a day. “He (Arvind Kejriwal) is completely fine.