Provident Financial News

The festive season is finally upon us. Many people believe that investing during this period, especially on the auspicious occasion of Dhanteras, is known to bring luck and prosperity. And the most obvious choice, every year, for most people, is gold. But instead of going the conventional route this Dhanteras, consider investing in something more meaningful to secure your future.

By MAJ GEN JAGATBIR SINGH, VSM ( RETD)

Festival time is the best opportunity for accumulation of a few assets and gold is a preferred choice among Indian households who wish to purchase this metal not only for investment but also because it is considered auspicious.

Whether you should invest in stocks or in mutual funds is a debate as old as the emergence of financial markets itself. Let’s draw from historical data and technical analysis to see which one is the better option for higher returns.

The U.S. Food and Drug Administration (USFDA) on Thursday approved Adzynma, the first recombinant (genetically engineered) protein product indicated for on-demand enzyme replacement therapy (ERT) in adult and pediatric patients with congenital thrombotic thrombocytopenic purpura (cTTP), a rare and life-threatening blood clotting disorder. The FDA granted approval of Adzynma to Takeda Pharmaceuticals U.S.A. Inc.

Having established itself as a leading full-stack real estate service provider during its 17-year-long journey, Magicbricks has now set its sights on expanding the home loan segment. The company is poised to collaborate with more financial institutions and digitize the entire home loan process in a bid to establish one of the largest home lending channel partner networks in the country.

Michael Burry, Rakesh Jhunjhunwala, Charlie Munger, and more who had never attended B-Schools in their lives. Mohnish Pabrai is one of them. This Indian-American businessman and investor is the founder and Managing Partner of the Pabrai Investments Funds while managing Dhandho Funds too.

Vinit Bolinjkar, Head of Research, Ventura Securities, sees the Nifty around 24,000-25,000 by next Diwali, which implies a 24-29 percent upside. For Muhurat trading, he advised investors that rather than focusing solely on the share price, it's important to evaluate the company valuations and the potential for future expansion and growth prospects. A decent allocation of 10 percent of the portfolio in gold provides stability, he added.

Padmanabhan Iyengar, Coimbatore, Tamil Nadu In the dynamic landscape of the Indian securities market, gold has long held its position as a coveted asset, offering a hedge against inflation and economic uncertainty. However, when it comes to investing in gold, investors often face a dilemma between two popular options: gold mutual funds and sovereign gold bonds. Understanding the nuances of each instrument is crucial for making an informed decision that aligns with one's investment goals and risk tolerance.

pollution levels in the National Capital Region (NCR). “Farm fires must stop. The decline must go on during the Diwali holidays." the court said.

₹5,299.The phone showcases a 6.52-inch screen with a 120Hz touch sampling rate and a peak brightness of 400 nits. It runs on a MediaTek Helio G36 with a maximum speed of 2.2GHz. Equipped with 7GB RAM and 3GB Virtual RAM, it offers 64GB internal storage.

air purifier emerges as a knight in shining armour, ready to defend our indoor sanctuaries. These devices come in various types, from HEPA filters to activated carbon filters and UV purifiers, each tailored to combat specific pollutants. Bringing an air purifier into your home isn't just a convenience; it's a proactive stance, a commitment to the well-being of your nearest and dearest.

When it comes to making payments a credit card is probably one of the most consumer-friendly options. It offers several benefits ranging from convenient and secure payments to instant credit and added benefits such as discounts and cashback, all instantly, in a single swipe of your card.

OneWeb recently said it can launch fast broadband services in India using its low earth orbit (LEO) satellite constellation as early as end-November. Reliance Jio too said it can roll out JioSpaceFiber services using its Luxembourg-based JV partner, SES’s medium earth orbit (MEO) satellite constellation within weeks of being allotted the spectrum. US-based Hughes already offers satcom services in India using geostationary earth orbit (GEO) satellite systems while Elon Musk’s Starlink is revving up to launch internet-from space services using its LEO satellites once it has necessary approvals from the Indian government. But what are LEO, MEO and GEO satellite constellations? And what is their role in providing broadband connectivity in remote and inhospitable regions? Here’s an ET explainer. Simply put, these are global satellite systems that operate at very different altitudes above the earth’s surface and can be used to provide high-speed broadband in remote and inaccessible regions where it’s a challenge to roll out terrestrial networks (read: landline and mobile networks).

Amit Shah on Friday paid tributes at the 62nd raising day of the Indo-Tibetan Border Police (ITBP) and said that the service which started 62 years ago has emerged as a strong face of nation's security. Speaking at the ceremony, Home Minister Amit Shah said «ITBP, which started 62 years ago with 7 divisions, has today emerged as a strong force with 60 divisions, 17 training centres, 5 frontiers and 2 commando headquarters with 1 lakh personnel. When your family needs you, the country needs you at the same time but you give priority to the country.

Mahindra Lifespace Developers, the real estate and infrastructure development business of the Mahindra Group, has decided not to undertake a joint development on a nearly 5-acre land parcel in Mumbai’s western suburb Dahisar owing to significant delays in fulfilment of certain conditions precedent. The company had finalised the terms for this project in October 2021 and the development was estimated to provide around half a million sq ft of carpet area. The terms of this joint development were subject to conditions precedent including regulatory clearances and approvals for effective development of the land parcel in a timely manner. “In the best interest of the company, owing to significant delays in fulfilment of certain conditions precedent, the same shall be discontinued and shall not be pursued,” the company said. Mahindra Lifespace Developers recently acquired 5.38 acres of land in Wagholi locality of Pune. The land is estimated to have a development potential of over 1.5 million sq ft of saleable area. For the quarter ended September, the company has recorded pre-sales of Rs 455 crore for 0.68 million sq ft saleable area in its residential business. The company has a healthy pipeline of business development with Gross Development Value {GDV) of over Rs 5,000 crores, Amit Sinha, Managing Director & CEO, Mahindra Lifespace Developers told investors during its September quarter earnings call. The company has multiple launches coming up in the second half of the current financial year.

Reserve Bank of India Governor Raghuram Rajan said. “We should be going at 8%-8.5% given the needs of the population and the need for jobs,” Rajan said via video link at an event in Beijing on Friday. Economic growth at 6%-6.5% is strong compared with other countries, “but relative to our need for jobs I think it’s still somewhat slow because we have a lot of young people who need to be employed.” While India’s expansion has outpaced that of other major economies, the country isn’t creating enough jobs for the millions of people joining the workforce every year.

Some organisations, especially in the IT sector, recently issued strict orders asking their mid-career professionals to return to the office. Some return-to-office mandates had led to the rise of terms such as coffee badging and office peacocking, which we had discussed recently. But what does this mandate mean from a leader’s point of view?

Enforcement Directorate has attached three immovable properties worth Rs 24.95 crore of Hero MotoCorp executive chairperson Pawan Kant Munjal attached as part of money laundering probe, the federal agency said on Friday. The ED said that the total value of seizure and attachments now stands approximately at Rs 50 crore. «The prosecution complaint alleges that foreign currency/foreign exchange equivalent to Rs 54 crore was illegally taken out of India,» the ED said. A First Information Report (FIR) was filed in October on a complaint alleging forgery, falsification of accounts, criminal conspiracy, and cheating by certain officials of Hero MotoCorp. The FIR named Pawan Munjal, and Hero MotoCorp executives Vikram Kasbekar and Hari Gupta. However, the company said in a statement on the exchanges that this case is an old matter and pertained to the year 2009-10 with a disgruntled service provider, Brains Logistics, a former vendor of Hero Honda Company, alleged that the accused colluded to and committed “the illegal acts of forgery, cheating and falsifying the books…and manufactured fake month-wise bills”. These bills, totalling Rs 5.95 crore for 2009 and 2010 were debited to the complainant, it alleged. Separately, in August this year, the ED had conducted searches on Munjal and some others as part of an investigation into an alleged money laundering case. The searches were carried out at the residential and business premises of Munjal in Delhi and Gurgaon, and some linked entities. In a statement, the company had at the time said, “Officials from the Enforcement Directorate (ED) today visited two of our offices in Delhi and Gurugram and the residence of our executive chairman Dr Pawan Munjal.

By Naomi Rovnick and Marc Jones

Mineral Resources has made another lithiumacquisition less than a week out from the company’s annual general meeting, where billionaire founder Chris Ellison is expected to shed some light on the strategy behind a spate of recent deals.