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In its annual report published today (2 July), Monks investment trust chair Karl Sternberg said the NAV growth came on the back of stronger results in the second half of the year. This performance saw a NAV total return of 21.6% at a share price total return of 28.5% compared to 16.6% from the index. The board of the trust said it will pay shareholders 2.1p in dividends this year, which is lower than the 3.15p the year before. This decision was made to enable further buybacks and close the vehicle's discount trading. Since January 2022, Monks has spent £406m to buy back 39 million in ...

French President Emmanuel Macron's decision to align with the Leftist New Popular Front (NFP), that emerged as the shock winner of the French parliamentary elections held on Sunday, has now instilled a fear among the wealthy bracket of France, who are dreading the return of wealth taxes in the country.

construction companies in the June 2024 quarter is expected to remain muted due to delay in obtaining clearances related to acquisition of land parcels, severe heat wave across various parts of the country, and slack in construction activities amid the general elections held during the quarter. Revenue of these companies is expected to grow by 2-7% year-on-year while net profit may increase by 3-10%. In the year-ago quarter, these companies had reported a strong profit growth of 33-53% while revenue had grown by 2-33%. In FY24, revenue and profit had increased in the range of 9-34% and 9-69% respectively. According to the data shared by the Ministry of Road Transport and Highways (MoRTH), the construction of national highways fell by 12% year-on-year to 1,288 km in the first two months of FY25. This fall was largely because of weak awarding of projects. Historically it has been observed that the awarding of road projects slows down when there are general elections in a fiscal. A weak order flow coupled with a slow pace of project execution will culminate into muted revenue and profit growth for the sector.

Jubilant Foodworks Ltd. gained 0.28 per cent to Rs 571.65 in Thursday's session as of 11:52AM (IST) even as the equity benchmark Sensex traded 182.67 points higher at 80169.47. Earlier in the day, the stock witnessed a gap up start to the session. The stock quoted a 52-week high price of Rs 586.35 and a 52-week low of Rs 420.85 on NSE. Around 19612 shares changed hands on the counter till 11:52AM (IST).

Indian stock market has emerged as the undisputed champion of global equities in the past year. Leaving even the tech-heavy NASDAQ in the dust, the MSCI India index has skyrocketed over 36%. This isn't just a story of the big players.

Cholamandalam Investment & Finance Company Ltd. slipped 0.61 per cent to Rs 1394.95 in Wednesday's trade as of 10:45AM (IST). The stock hit a high price of Rs 1415.05 and low of Rs 1389.8 during the session. The return on equity (ROE) for the stock stood at 17.45 per cent. Traded volume on the counter stood at 10:45AM shares and turnover at Rs 1.3 crore around that time. The stock of Cholamandalam Investment & Finance Company Ltd. quoted a 52-week high price of Rs 1475.95 and 52-week low prices of Rs 997.4, respectively.

Kamala Harris as a potential replacement. She has remained mum on this issue and has fully extended her support to Joe Biden. The New York Times has reported that the VP is actively considering the prospects of gunning for the top position and is also discussing the possible names of those who can be her running mate and who will contest the Vice-Presidential election. The candidate will have to be white man from a swing state who can help the party garner the required votes.

Bajaj Finance added 4.47 million new customers, marking a healthy 16% year-on-year increase and a multi-quarter high. This compares favourably to the 3.23 million new customers added in the March quarter.

Som Distilleries at Sehatganj village in Raisen, Madhya Pradesh. He calls his work “pauwa jamana”— setting the bottles upright so that alcohol falls into them. He did that for nine hours a day. Wearing jeans and tee shirt, Vineet sits with a slight stoop at his home. He says he dropped out of school. Instead of going to class, the thin boy would reach the distillery at 8 am and work till 5 pm. After a long day of strenuous, hazardous work, he would go home with Rs 350. He saw the hands of his friends had turned white, the skin had peeled. “It could have been the chemicals,” he says. He worked there only for a fortnight. Before he had to spend more days in that reeking plant, before his hands too got scalded, he was rescued. On June 15, a team of officials of the National Commission for Protection of Child Rights (NCPCR) and Bachpan Bachao Andolan (BBA), a nonprofit founded by Kailash Satyarthi, rescued 59 children—39 boys and 20 girls—from the distillery, in the biggest busting of child labour racket in the liquor industry in the past several years. About 40 other children “escaped” during the raid, according to officials at the rescue operation.

Ambuja Cements Ltd. traded 0.11 per cent down in Wednesday's trade at 02:00PM (IST). Around 69,001 shares changed hands on the counter. The scrip opened at Rs 698.55 and touched an intraday high and low of Rs 699.6 and Rs 687.75, respectively, in the session so far. The stock of Ambuja Cements Ltd. quoted a 52-week high of Rs 706.85 and a 52-week low of Rs 404.0.

An important person in the government requested me to write about how the subsidy from Union budgets for second-class AC train seats in India has grown since 2014, given that these fares haven’t been adjusted for rising fuel costs. I haven’t managed to figure out if there is a subsidy on these fares, let alone how fast it may be growing. Happy to be corrected, but it seems that the outgo towards this subsidy and the figures needed for computing it are not being reported in the Union Budget.

Leaders across Europe have reacted with relief mixed with concern to the result of the French legislative election

Champions Trophy 2025, ANI reported citing sources on Thursday. The Board of Control for Cricket in India (BCCI) will ask ICC to host matches in hybrid mode in Dubai or Sri Lanka, sources said. The marquee tournament is scheduled from February 19 to March 9 with March 10 as Reserve Day.

The U.S. government’s auto safety agency is investigating a potential “loss of motive power” in more than 94,000 Jeep Wrangler 4xe vehicles, after receiving complaints for cars outside the scope of an earlier recall involving an engine shutdown conditi...

Britain’s new Treasury chief says the Labour government will make stimulating economic growth its mission while limiting bureaucracy to allow for easier investments

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DSV A/S and CVC Capital Partners Plc are seen as the leading contenders for Deutsche Bahn AG’s logistics unit DB Schenker after AP Moller-Maersk A/S dropped out of the running, according to people familiar with the matter. Binding bids are expected to be submitted in August, the people said, asking not to be identified because the information is private. CVC has offered to let the German government or related fund keep around a 20% stake in the unit and benefit from any future upside, according to the people. Rival bidder DSV could link DB Schenker into its freight forwarding technology system, seen as one of Europe’s largest platforms, the people said. The Danish company has made a number of acquisitions in recent years, often raising the group’s combined profit margins once a takeover is digested.

Shares of Asian Paints and Berger Paints surged up to 4% in Wednesday's trade on the BSE following reports of a price hike of up to 1% by the paint manufacturing companies. According to reports, Asian Paints has increased prices of its products by 0.7-1% across its portfolio.

New York’s oldest and most storied bank has named the next leader for its global wealth and investments business.

Populist Budget Chances: Finance Minister Nirmala Sitharaman will be presenting her seventh full budget on July 23. Her five budgets have been marked with fiscal prudence as well as aggressive capital expenditure and an emphasis on making India Atmanirbhar and boost manufacturing. The interim budget Sitharaman presented in February surprised many for its lack of populist proposals which were expected since it was a pre-poll budget. But between the interim budget and the upcoming full budget, the situation has changed drastically. The BJP fell short of majority in the Lok Sabha elections and its NDA government is propped up by its allies, M. Chandrababu Naidu's TDP and Nitish Kumar's JD(U). After the results, there was speculation that both the allies will extract their pound of flesh for supporting the government by asking for key ministries and the speaker's post. But none of that happened. On the contrary, these allies expressed their unconditional support for the government. However, now there is speculation that the TDP and the JD(U) would want Sitharaman to extend a favorable treatment to their states in the budget. Many think Sitharaman has the tough task to balance fiscal discipline and growth with the excessive demands of these allies.