Strategy Financial News

Shiv Sena leader Deepak Kesarkar has said the Maharashtra assembly polls were recently fought under the leadership of Eknath Shinde and it is up to the BJP's central leadership to decide how to maintain his stature. The contribution of Shinde, the caretaker chief minister of the state, should be duly recognised, Kesarkar said at a press conference here on Monday. The Mahayuti, comprising the Shiv Sena led by Shinde, BJP and Ajit Pawar's NCP, won 230 out of 288 assembly seats in the November 20 polls, results of which were declared on November 23. The BJP led with 132 seats, while the Shiv Sena got 57 and NCP 41 seats. BJP leader Devendra Fadnavis, two-time former CM, is widely seen as the frontrunner for the top post.

V Srivatsa, Fund Manager — Equity, UTI AMC, sees opportunities in cement, metals and durables companies as they are disappointed in earnings and the worst may be over for them in terms of downgrades. «Given the low base and strong festive season, we see some turnaround around consumption-oriented sectors such as FMCG, autos and durables. We may also see a recovery in the oil and gas companies as the refining margins and oil realizations could be better in the second half,» he says. Edited excerpts from a chat: Mutual fund inflows have been strong even when the market is falling. How much cash are you deploying in your portfolios amid the market correction? V Srivatsa: UTI Large and Mid-cap Fund typically has around 4-5% cash in the fund at current levels. We are in the process of deploying some of the cash into buying equities, however we would need to maintain at least 2-3% cash to meet any unforeseen redemptions.

mutual funds to invest in. They ask their friends or colleagues or in some mutual fund forums for top or best schemes while starting their investment journey or while deciding to invest extra money. But most of them are not satisfied with the answers they get from the internet or friends due to different reasons. An online search would mostly take you to some websites with ready-made lists. Most often, the schemes may be shortlisted on the basis of their short-term performance. Sometimes, the schemes from a single category may dominate the list because that category happens to be the flavour of the season. Also Read | Best mutual fund SIP portfolios to invest in December 2024

Anand Rathi has an accumulate call on MIC Electronics Ltd. with a target price of Rs 90. The current market price of MIC Electronics Ltd. is Rs 83.53. MIC Electronics, incorporated in 1988, is a Small Cap company with a market cap of Rs 2024.02 crore, operating in Electric /Electronics sector. MIC Electronics' key Products/Revenue Segments include Electronic Components & Equipments, Other Operating Revenue and Job Work for the year ending 31-Mar-2024.

Adani Power shares are in focus after Bangladesh, grappling with $844 million (Rs 7,000 crore) in unpaid power dues to the company, asked Adani to reduce its electricity supply due to low demand during the winter season. «Due to low demand owing to the onset of winter, Bangladesh Power Development Board (BPDB) has conveyed that we need to supply from one unit only,» a spokesperson for Adani Power told ET in an emailed response to queries, adding that the units are available as per the contract with BPDB.

Accel and some accounts managed by Orbis Investments. Nebius, which emerged in July following a $5.4 billion deal to split the domestic and international assets of Russian internet giant Yandex, is joining a drive to build the infrastructure underpinning artificial intelligence. Nebius was founded by Arkady Volozh, former founder and CEO of Yandex. Trading in Nasdaq-listed Yandex was suspended soon after Russia's invasion of Ukraine, with Nebius eventually reviving the listing as part of the asset split.

Nargis Fakhri's sister, Aliya, has been arrested and charged with first-degree murder and other offences for allegedly «deliberately starting a deadly fire» in a garage on November 2, which resulted in the deaths of her ex-boyfriend and his female companion in Queens, New York. According to the charges and investigation, Aliya arrived at the two-storey detached garage at about 6:20 am on November 2 and yelled, «You're all going to die today» before setting the fire that turned into a «raging inferno» in which Edward Jacobs (35) and Anastasia Ettienne (33) died. The Queens district attorney's office said Fakhri «allegedly set the fire near the entrance of the building, trapping the two inside with no exit». The victims died from smoke inhalation and thermal injuries.

Ramayana was arrested after he ripped the stomach of a live pig on stage and ate its meat in Odisha's Ganjam district, police said. The incident sparked a statewide outrage and was condemned in the assembly on Monday. Besides the actor, identified as Bimbadhar Gouda, one of the organisers of the play that took place in Ralab village in Hinjili police station area on November 24 was also arrested for cruelty to animals and violation of the Wildlife Protection Act. Ruling BJP members Babu Singh and Sanatan Bijuli strongly condemned the incident in the assembly.

Donald Trump said on Monday a series of tax incentives and tariffs will revive storied American firm U.S. Steel, as he reiterated his opposition to Nippon Steel's planned $15 billion purchase of the company. «I am totally against the once great and powerful U.S. Steel being bought by a foreign company, in this case Nippon Steel of Japan,» Trump wrote on his social-media platform Truth Social. «I will block this deal from happening. Buyer Beware!!!»

Wipro, which have given returns of over 30% in the last six months alone, are likely to remain in focus on Tuesday as the stock begins trading on ex-bonus basis from today. The IT major had announced a bonus share issue in the ratio of 1:1, fixing December 3 as the record date for determining shareholder eligibility.

The first indigenous Loiter Munition, Nagastra-1, developed by Solar Industries in Nagpur has supplied the complete lot of 480 loitering munitions under a contract signed under emergency procurement powers by the force, defence officials said. The indigenous loitering munition named Nagastra-1 has an indigenous content of more than 75 per cent and has been designed and developed indigenously by the firm.

«Hostile activity in UK cyberspace has increased in frequency, sophistication and intensity,» the National Cyber Security Centre's Richard Horne will say in a speech later on Tuesday, according to a statement released by the government agency. «Actors are increasingly using our technology dependence against us, seeking to cause maximum disruption and destruction.»

Firstly, here's how you can know the status on NSE

In a twist, AI itself, from the startup Orbital Materials, is what designed the carbon-filtering substance, its Chief Executive Jonathan Godwin said. «It's like a sponge at the atomic level,» Godwin told Reuters. «Each cavity in that sponge has a specific size opening that interacts well with CO2, that doesn't interact with other things.»

The United States on Monday launched its third crackdown in three years on China's semiconductor industry, curbing exports to 140 companies to stymie China's ability to access and produce top-line chips. «It was not a blanket ban, or as stringent as people first feared. So that, to me, is a positive,» said Tai Hui, Asia chief market strategist at JP Morgan Asset Management in Hong Kong.

Arbitrage funds, a category with assets worth ₹2.35 lakh crore, have received inflows of ₹89,400 crore in the last 12 months as rich investors use these schemes to park money for short-term needs. These funds now account for 53% of the net inflows into the hybrid category, according to data from WhiteOak Capital Mutual Fund. Higher returns than debt funds along with the benefit of equity taxation are driving investors to arbitrage funds. Distributors point out that many savvy investors are using these schemes to park money as they believe valuations are rich and wait for a correction to deploy more money.

But compute is awfully expensive. For a country like India, which needs scale and cheaper compute, the cost is only going to get increasingly higher, making it inaccessible to large sections. Open Cloud Compute (OCC), an initiative of People+AI is looking to solve this very issue. It is founded by EkStep Foundation, which Infosys cofounder Nandan Nilekani started in 2015 and is trying to offer an alternative for larger players by creating a network of micro data centres.

ET’s Puran Choudhary, the company’s global Gen AI leader, Nitin Mittal, shared Deloitte’s “India for global, India for India” strategy. Edited excerpts: Why did Deloitte choose India for the global CoE? There are several reasons. One is the talent base both within Deloitte and the larger ecosystem, including startups, academia and institutions. The other reason is that almost every Fortune 500 company has a presence in India. In Bengaluru alone, 38% of Fortune 500 companies operate. Compare this to other regions, like the Nordic countries, where talent may exist but not at the scale or price points we find here. This dual benefit of “India for global” and “India for India” is rare, and it’s a critical factor for Deloitte.

Direct-to-consumer brands and ecommerce marketplaces are estimated to have recorded a 17-18% increase in order volumes during this year's Black Friday weekend compared to last year. Beauty, wellness and personal care products, and home decor were the most popular categories during the sale, according to ecommerce enablement platform Unicommerce. The gross merchandise value (GMV) — the value of goods sold on ecommerce platforms, excluding discounts and returns — rose more than 24% from a year earlier. The surge in sales was fuelled by the global excitement around Thanksgiving and the Christmas season, bringing the year's ecommerce sale events to a close. The sale event also saw a sharp rise in average order value (AoV), particularly for pricier items, similar to what was observed during the Diwali festive sales, said several brand executives.

Meghan Markle will be looking to leave a mark in 2025 after she is planning on launching her fashion brand in the coming year, along with the release of her highly anticipated Netflix show, where she could be seen playing a part, as per reports. The Duchess of Sussex took a major sabbatical from her acting career after getting married to the Royal Family, but it now looks like she could be back in a major way to the Hollywood scene.

Lionel Messi and Cristiano Ronaldo are still popular and respected by their fellow players even though they no longer play for European clubs. The 37-year-old Messi and 39-year-old Ronaldo were the only players not with clubs in Europe to be voted on a 26-man shortlist for the world team of the year organized by global players' union FIFPRO on Monday, as per a report.. The other 24 nominees played in the past year with clubs in England, Germany, Spain and France, though Kylian Mbappé was the only French connection after spending last season at Paris Saint-Germain, AP reported. No player from any Italian club was selected, nor from any club in South America or Africa.