Provident Financial News

Investors have sought clarity from the Securities and Exchange Board of India (Sebi) regarding the status of rating actions by Brickwork Ratings after the firm sharply downgraded outstanding bonds of some companies including central public sector undertaking NLC India Ltd. Investors have taken up the matter with Sebi citing uncertainty surrounding the matter following the market regulator's decision in October 2022 to cancel the certificate of registration given to Brickwork due to certain contraventions and deficiencies, people aware of the developments told ET. Sebi last month revoked the order directing Brickwork to shut down operations. Rating downgrades for bonds have significant implications for profitability of financial entities such as banks and mutual funds which are investors in such securities.

Infosys Technologies Ltd., India’s second-largest IT services company, is likely to report its slowest growth ever based on the current guidance of 1-2.5%, data sourced from brokerage firm BNP Paribas shows.

Investors would be better off not buying afresh in beaten-down shares of city gas distributors Indraprastha Gas and Mahanagar Gas for now, said analysts. With the proposed road map by the Delhi government mandating a phased shift of all cab aggregators and delivery vehicles, to electric by 2030 seen impacting Indraprastha Gas (IGL), analysts are expecting its shares to continue underperforming in the near term.

The owners of the Newcastle Jets have put the financially strained A-League club up for sale in an attempt to find a business or person that can provide long-term funding and support young talent.

(Reuters) -Goldman Sachs veteran Luke Sarsfield is set to become chief executive of asset manager P10, the Wall Street Journal reported on Sunday.

Sight Unseen" is a procedural drama and marks a shift in genre for The CW, aiming to attract a broader audience and align more with the content offered by other major networks. Here's what you need to know about this upcoming series.

For a second straight year, banks are making more money providing loans and underwriting bond sales for green-related projects than they’re earning from fossil fuel companies.

Coforge, the mid-sized IT services company which achieved over $1 billion in annual revenue in the last quarter of FY23, is planning to spin off a stand-alone public sector division by the year-end. The sector’s resilience is a catalyst for this strategic focus on establishing a separate public sector entity, Sudhir Singh, the chief executive, said in an interview. “We are focusing on public sector clients outside India—in the UK and Australia.

NEW DELHI : Foreign portfolio investors (FPIs) based in the Netherlands face tax concerns following a Supreme Court verdict last week pertaining to the interpretation of Double Taxation Avoidance Agreements (DTAAs). In its verdict, the Supreme Court clarified that the most favoured nation (MFN) clause in a tax treaty is not automatically triggered and has to be notified separately by the central government. It is common for FPIs based in the Netherlands to believe that their dividends will be subject to a 5% withholding tax in India.

NEW DELHI : The government plans to review the list of state-run banks slated for privatization amid improved profitability and a significant drop in non-performing loans. A new panel with representatives from the finance ministry, NITI Aayog and the Reserve Bank of India (RBI) is being considered to draw a fresh list of candidates for privatization, two people close to the matter said on condition of anonymity. In the 2021-22 budget, finance minister Nirmala Sitharaman announced plans to privatize two state-run banks, along with IDBI Bank and a general insurance company in the fiscal year.

Premier League (IPL). Sajith Sivanandan, head of Disney+Hotstar India, said all businesses go through periods of ups and downs, and the company is prepared to address the dip in subscriber numbers. “We grew on the back of a lot of sports properties with the peak around the T20 World Cup.

These devices, which once helped millions get connected to fast internet when WiFi penetration was low and data prices too steep, are now missing from retail shelves, edged out by the ubiquitous 4G smartphones with their WiFi hotspots and publicly available free WiFi in community areas. A multitude of factors have led to 4G dongles seeing the end of the line, right from data prices crashing to the proliferation of high data usage during the pandemic through home broadband connections, said industry executives and market trackers. «There are now no new dongles coming into the market.

India's top two telecom operators, Reliance Jio and Bharti Airtel, are likely to post improved profitability and cash generation through fiscal 2025, on the back of a likely moderation in 5G capital expenditure and customer churn from this quarter, FY24 onwards, said analysts. «Capex will remain elevated in 2QFY24, but we expect moderation in 2HFY24, which will help improve profitability and cash generation...Airtel and Jio are well positioned over the medium-term with growth levers such as subscriber upgrades, market share gains and tariff hikes that are just a matter of time,» BNP Paribas said in a note. Jio and Airtel managements have been guiding for a moderation in network capex from FY25 onwards with accelerated pan-India 5G rollouts likely to be concluded by December 2023 and March 2024, respectively. «Bharti's management capex guidance implies (annual) India business capex could decline to ₹20,000 crore from FY25 (versus ₹28,000 crore in FY23 and a similar guidance in FY24), though we continue to conservatively build in ₹27,000 crore for FY25,» JM Financial said. Jio, with more than 62 million 5G users, and Airtel, with over 50 million subscribers for the service, have been expanding their networks since the launch in October 2022. Loss-making Vodafone Idea (Vi) has yet to announce its 5G services launch as it is yet to close its much-delayed fundraising. Analysts, though, believe serious monetisation of 5G services is at least a year away despite Jio and Airtel recently taking first steps by launching AirFiber or 5G-based fixed wireless access (FWA) services in a few markets. Some analysts expect Jio to take the lead in hastening monetisation of its 5G-based FWA services by bundling PayTV. «Any

By Kanishka Singh

Aria Mia Loberti, a newcomer to the world of acting, secured a breakthrough role in Netflix's upcoming adaptation of Anthony Doerr's Pulitzer Prize-winning novel, «All the Light We Cannot See.» Her selection for the lead role, Marie-Laure LeBlanc, resonates deeply, as Loberti shares a similar life experience of being blind, akin to her character. Director Shawn Levy, renowned for his work on «Stranger Things,» emphasised the authenticity Loberti brought to the character, recognizing the importance of casting an individual who could authentically convey Marie-Laure's experiences. The series, set against the backdrop of World War II, portrays the resilience of its characters, including Loberti's Marie-Laure, navigating the challenges of war while embracing the power of kindness and determination. During the interview, Loberti expressed her gratitude for the opportunity and her commitment to bringing a genuine portrayal of her lived experience to the screen.

Big Brother UK, the iconic reality show that has captured the hearts of viewers around the world, is back for another thrilling season. If you're eager to watch Big Brother UK 2023 and experience all the drama, suspense, and unexpected twists, we've got you covered. In this guide, we'll show you how to watch Big Brother UK online, ensuring you never miss a moment of this unmissable season.

Maharashtra Chief Minister Eknath Shinde on Sunday expressed condolences over the death of two people from the Maratha community and appealed to the activists not to commit suicide. «Today I want to appeal that two people from the Maratha community committed suicide, I'm also from the Maratha community and the son of a farmer, I express condolences to those who have committed suicide. Please think about your families before taking such steps,» CM Shinde said. He further said that his government stands with the Maratha community and is committed to providing reservations to the Maratha community, adding that giving reservations is the government's responsibility. «It is the government's responsibility to give reservation to the Maratha community, and we are working towards it.

1. Setting the Vision and Goals: Leadership begins with setting a clear vision and goals for the organization. Leaders articulate the purpose and direction, providing employees with a sense of purpose and a roadmap to follow. When employees understand the big picture, they are more likely to align their behaviour with the organization's objectives.