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RBI) has approved the appointment of KVS Manian as the MD and CEO of Federal Bank for a term of three years, the bank informed exchanges on Monday evening. Manian, former joint MD of Kotak Mahindra Bank, will replace Shyam Srinivasan.

Madhu Kela is supportive of a government/regulatory action on the growing speculative trading in the derivatives market arguing that irrespective of the overwhelming investor traction, there is a lack of understanding as to what they are getting into. He said he was hopeful of a collective action among the Securities and Exchange Board of India (Sebi), Reserve Bank of India (RBI) and the government on this. Citing an «alarming incident» that he came across, Kela said, «A friend of mine was saying that his mother asked me about F&O. She is 82-year-old and this friend asked her what have you got to do with F&O and what do you want to do? She said that I have nothing to do with F&O. In our house there is housework going on and three carpenters are working. They do not work between 9:15 and 3:30 because they are doing F&O trading and our work has slowed down,» Kela said.

insolvency ecosystem, which has helped bring NPAs to multi year low.

BigBloc Construction on Monday said its board has approved the issue of one bonus share for every equity share held by shareholders. The board of directors in its meeting on July 19 recommended the issue of bonus equity shares in the proportion of 1:1, that is, one bonus equity share for every existing equity share held by the company shareholders as on the record date, the company said in a filing. During the day, shares of the company soared to 7 per cent to hit Rs 284.90 apiece on the BSE.

Economic Survey 2024 Live UpdatesThe Union government tabled the Economic Survey 2023-24 in Parliament. The Economic Survey document, prepared by the Economic Division of the Department of Economic Affairs in the Ministry of Finance and formulated under the supervision of the chief economic adviser, gives insights into the state of the economy and various indicators of 2023-24 (April-March) and some outlook for the current year.

budget for the financial year 2024-25. ETMutualFunds reached out to financial advisors about what mutual fund investors can expect from the Finance Minister and what changes they should make in their investment strategy.

MphasiS Ltd. rose 0.51 per cent to Rs 2892.55 in Monday's trade as of 01:14PM (IST) even as the benchmark Nifty ruled at 24485.55, down 45.36 points. The scrip had closed at Rs 2877.6 in the previous session. The stock quoted a 52-week low of Rs 2068.45 and a high of Rs 2913.35. The company quoted a market-cap of Rs 54712.02 crore on the BSE.

stock market, advisors have been advising investors to move cautiously. In such a scenario they believe that investing in hybrid mutual funds — schemes that invest in equity and debt — may serve investors, especially new and inexperienced investors, better. Conservative hybrid mutual funds are the entry to the world of hybrid funds. These schemes invest mostly in debt and a small percent in equity. As per the Sebi norms, conservative hybrid schemes must invest 75-90% in debt instruments and 10-25% in stocks. These schemes are ideal for investors looking to invest a small part of their corpus in equity to earn some extra returns. Also Read | These equity mutual funds deliver over 50% return in 9 months

Kotak Bank, while Goldman Sachs and Jefferies have a buy rating on HDFC Bank. Investec has maintained a sell call on PVR Inox. We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

US Homeland Security Secretary Alejandro Mayorkas has appointed a bipartisan, independent panel to review this month's assassination attempt on former President Donald Trump, officials said Sunday. The panel members will have «extensive law enforcement and security experience to conduct a 45-day independent review of the planning for and actions taken by the US Secret Service and state and local authorities before, during, and after the rally, and the US Secret Service governing policies and procedures,» the Department of Homeland Security said in a statement. The first people named to the panel are former Homeland Security Secretary Janet Napolitano; Frances Townsend, former Homeland Security adviser to President George W. Bush; Mark Filip, a former federal judge and deputy attorney general to President George W. Bush; and David Mitchell, former Secretary of the Department of Public Safety and Homeland Security for the state of Delaware. Additional experts could be asked to join the group in the coming days, the statement said.

Don’t go by past returns Our cover story explains why investing on the basis of past returns is not a good idea. This is especially true in case of sectoral and thematic funds. Sectors and themes tend to be cyclical in nature, and the performance depends on a host of factors, including news developments, economic conditions, global trends, government policies and market sentiments. For instance, the pharma sector was the top performer after the Covid outbreak in 2020, but it was the worst performer in 2021 and gave negative returns the next year. “That’s how cyclicality plays out,” says Chirag Muni, Executive Director, Anand Rathi Wealth.

Union Budget.

Israeli forces pounded several areas across the Gaza Strip on Saturday, killing at least 30 Palestinians, according to health officials, as tanks advanced deeper into western and northern Rafah. Among those killed on Saturday were local journalist Mohammad Abu Jasser, his wife, and two children, in an Israeli strike on their house in the northern Gaza Strip, a medic said. Gaza's Hamas-run government media office said Abu Jasser's death raised to 161 the number of Palestinian media personnel killed by Israeli fire since October 7.

Canada’s auto theft problem might be showing signs of easing, but drivers are likely to continue feeling the pinch on their insurance premiums, experts tell Global News.

Puri Jagannath Temple’s Ratna Bhandar during the shifting of valuables on Thursday, reported TOI. The Ratna Bhandar was reopened by the Odisha government on July 14 for restoration and inventory after 46 years. “We found some ancient idols in Ratna Bhandar on July 14. We have now come across a few swords and javelins near a wooden chest within the inner chamber. The weapons were very heavy and had turned black,” said one of the 11 committee members who entered the treasury to TOI.

Bollywood actor advised practising intermittent fasting, thoroughly chewing food 45-60 times and having the last meal at 6:45 PM. He also asked to have cooked food only after 3 PM.The actor has emphasised the importance of taking early morning walks, getting deep sleep early, avoiding screens 90 minutes before bed and drinking plenty of fluids.

Russia and find him sitting with a submachine gun in his office. Russian President Vladimir Putin's internal security force, the National Guard, has recommended in its draft proposal that the top managers at Russia's Central Bank should carry submachine guns, reports 'Newsweek'. The proposal has been made at a time when Russia is going through an economic crises due to Ukraine War. The National Guard or Rosogvardiya is responsible for the protection of state buildings and domestic security. It is under the direct control of the Russian president.

Wipro's American Depository Receipts (ADRs) fell nearly 12% on Friday to hit the day's low of $6.08 on the New York Stock Exchange after the company reported a 4% decline in its June quarter revenue at Rs 21,964 crore over Rs 22,831 crore reported in the year-ago period. It was also below Street's estimates of Rs 22,258 crore. The IT major reported a consolidated net profit of Rs 3,003 crore (attributable to the equity holders) for the quarter ended June 30, 2024, up by 4.6% over Rs 2,870 crore reported by the company in the year-ago period. Wipro's PAT figure was above Street’s estimates of Rs 2,993 crore.

Kotak Mahindra Bank is expected to report a net profit of Rs 3,682 crore for the quarter ended June 30, 2024 according to average estimates of six brokerages. The profit after tax may go up by nearly 7% on the year-on-year basis. The net interest income is seen at Rs 7,053 crore for the reporting quarter which is likely to be higher by 13% as per the average estimates by these half-a-dozen brokerages. Yes Securities is most bullish on its PAT estimates of Kotak Mahindra Bank and pegs it at Rs 3,883 crore for the April-June quarter followed by Anand Rathi at 12.5% and 10.4%, respectively. Meanwhile, BNP Paribas has the most conservative estimates of Rs 3,520 crore which is just a 2% YoY uptick over the PAT reported in the year ago period.

Radhakishan Damani’s portfolio stock VST Industries rallied 17% to its new all-time high of Rs 4,829.95 after the company announced that it will consider issuing bonus shares in its upcoming board meeting. “It is hereby informed that the Board of Directors of the Company may consider the issue of Bonus Shares in the aforesaid Board Meeting,” said the company filing to the stock exchanges.

mutual funds have offered up to 99% return in the last one year. These funds gave an average return of 95.68% in the similar time horizon. SBI PSU Fund, the topper in the category, offered 99.87% return in the last one year. Invesco India PSU Equity Fund offered 97.70% return in the said period. The scheme is the oldest scheme in the category.