Strategy Financial News

Assam Accord of 1985, on Thursday welcomed the Supreme Court judgement regarding the pact's cut-off date and said it re-established the «rationality» of the historic agreement. Hours after the apex court pronounced its judgement, AASU welcomed the verdict and said it is the victory of the struggling people of Assam who have stood selflessly in favour of the Assam Accord for the past four decades. In a majority verdict, the Supreme Court on Thursday upheld the constitutional validity of Section 6A of the Citizenship Act which grants Indian citizenship to immigrants who came to Assam between January 1, 1966 and March 25, 1971. A five-judge Constitution Bench, headed by Chief Justice D Y Chandrachud, said the Assam Accord was a political solution to the problem of illegal migration.

Karti Chidambaram and others in connection with alleged bribery in facilitating visas of Chinese nationals for a power company in 2011 when his father P Chidambaram was the Union home minister, officials said on Thursday. In its charge sheet submitted before a special court here, the CBI has named Karti Chidambaram, the Lok Sabha MP from Sivaganga, his alleged close associate S Bhaskararaman, company Talawandi Sabo Power Ltd (TSPL), a subsidiary of Vedanta and Mumbai-based Bell Tools, through which bribes were allegedly routed, they said. The agency has invoked charges of criminal conspiracy, cheating, and forgery under the Indian Penal Code and provisions of the Prevention of Corruption Act, they said. Other charge-sheeted accused include Viral Mehta, Anup Agarwal, Mansoor Siddiqui and Chetan Shrivastava, they said.

In a trading update published today (17 October), the FTSE 250 firm reported a $6.8bn net outflow from its systematic long-only strategies for the three months to 30 September, driven by a single client redemption of $7bn. Excluding a $100m net outflow from total return strategies and flat flows in multi-manager solutions, all other product categories saw net inflows during the quarter. Man Group enjoys record $900m net inflows as performance fees surge fivefold Assets under management fell from $178.2bn at the end of June to $174.9bn, as positive investment performance worth $400m...

Multiples has picked senior Deutsche Bank executive Rahul Chawla as managing director of credit strategy, according to a release on its website. Chawla was the APAC head of financing for the financial sponsors segment for Deutsche Bank in his previous role. Multiples is an asset manager that focuses on equity investments but with this development will be entering the credit investing space.

The ruling by Chief Justice Manmohan and Justice Tushar Rao Gedela, emphasises the importance of judicial integrity. The court stated, «We are of the view that the description of the order and the judge is prima facie contemptuous and amounts to interference in proceedings.» Senior advocate Akhil Sibal, representing Wikipedia, clarified that the platform did not create either the critical page or the discussion section. Previously, on September 6, the court had cautioned the open-source platform that it would block the website in India if it failed to adhere to local laws.

Tata Power Company Ltd. rose 1.61 per cent to Rs 452.9 in Thursday's trade. It hit an intraday high of Rs 462.7 and low of Rs 451.5, respectively, during the day. The stock quoted a 52-week high price of Rs 494.85 and low of Rs 230.75.

ZEE5, the streaming platform from Zee Entertainment, is prioritising family-friendly content, enhancing its technology, and optimising costs through efficient content production to expand its business while minimising losses, according to a senior executive. This strategy has enabled the platform to increase both advertising and subscription revenue while reducing expenses. It expects the advertising business to pick up once the ad rate correction occurs in the industry and Connected TV (CTV) numbers increase. On the subscription side, it has partnered with Vodafone Idea and is in advanced discussions with Bharti Airtel. In the quarter ending in June, ZEE5 reduced its operating loss by 48% to ₹177 crore, while revenue grew by 16% to ₹223 crore. Over the 12 months ending in March, revenue increased by 24% to ₹919 crore, although the operating loss remained steady at ₹1,105 crore.

total contract value (TCV) into revenue, said Nitin Rakesh, CEO and MD of Mphasis, in an exclusive interaction with ET following its Q2 earnings. Driven by a recovery in revenue growth, Mphasis reported a 4.6% sequential rise in net profit to ₹423.3 crore for the September quarter. On a year-on-year (YoY) basis, net profit was up by 8%. The company’s revenue for the same period grew 3.3% quarter-on-quarter (QoQ) and 7.9% YoY to ₹3,536.1 crore. The Bengaluru-headquartered firm also saw an improvement in operating margins, which rose by 40 basis points (bps) QoQ but declined by 10 bps YoY to 15.4%.

Tube Investments of India Ltd. dropped 1.87 per cent to Rs 4419.0 at 12:26PM (IST) in Thursday's trade. The scrip hit a high of Rs 4511.0 and low of Rs 4397.55 so far during the session. The stock had closed at Rs 4503.6 in the previous session. The counter had a total traded volume of 12:26PM shares so far with a turnover of Rs 0.48 crore on BSE. The stock traded at a price-to-earnings multiple of 70.63 and a price-to-book ratio of 14.15.

Subscribe to enjoy similar stories. McKinsey is overhauling its China business after cutting back on government-linked clients and reducing the unit’s workforce by nearly 500 people, about a third of the total. To reduce security risks associated with doing business in China, the U.S.-based consulting firm has been separating its China operations from other global operations, people familiar with the matter said—a practice increasingly popular among multinational companies.

Vistara flight bound for Mumbai made an emergency landing on Wednesday due to a bomb threat. The airplane, which had 147 people on board, was traveling from Frankfurt, Germany. PTI sources reported that the Boeing 787 landed safely at 7:45 am and was immediately directed to an isolation bay for security checks. The aircraft had 134 passengers and 13 crew members. It had departed from Frankfurt on Tuesday at 8:20 pm, local time.

Fashion tech company ANNY announced that it has closed its seed funding round, led by FAAD Capital. The brand was founded in 2023 by Japjot Singh (Founder and CEO), Aveen Kaur (Co-Founder and COO), and Rahul Tanwar (Co-Founder and CTO). The company says that the seed funding will accelerate ANNY’s expansion, enabling investments in AI-driven technology for real-time trend adaptation, supply chain advancements, and top-tier talent acquisition. “With FAAD’s support, ANNY is poised to become the go-to fashion brand for women, offering stylish, accessible options for every occasion,” said Japjot Singh, Founder and CEO of ANNY, in a statement. “We’re excited to soon launch our mobile app and open our first physical store in early 2025, enhancing accessibility and convenience for our customers.”

Assam Accord, sets the framework for granting citizenship to certain migrants in Assam. Chief Justice DY Chandrachud, along with Justices Surya Kant, MM Sundresh, and Manoj Misra, supported the decision, while Justice JB Pardiwala dissented. The Assam Accord, signed in 1985 between the Indian government and the representatives of the Assam Movement, was a response to the 1971 Bangladesh Liberation War, which resulted in a large influx of migrants into Assam. Section 6A was enacted as a humanitarian measure and allows individuals who migrated between January 1, 1966, and March 25, 1971, to obtain Indian citizenship under certain conditions.

Digital Fashion Ventures Ltd, a wholly owned subsidiary of Aditya Birla Fashion and Retail Ltd, has invested Rs 75 crore in Wrogn, the men's wear brand backed by Accel and cricketer Virat Kohli. “ABDFVL, a wholly owned subsidiary of the company, has infused Rs 75 crore of the final remaining portion of the stated primary investments into Wrogn, thereby increasing its shareholding in Wrogn, from existing 17.10% to 32.84% on a fully diluted basis,” the firm said in a stock exchange filing. On June 19, ET reported that TMRW House of Brands, an ecommerce rollup venture owned by Aditya Birla Group Venture, had invested Rs 125 crore in Wrogn.

The NDA meeting and CM conclave will be held between 3 pm to 7 pm. The agenda of the meeting includes national development issues. It will also discuss subjects like the observance of Sanvidhan Ka Amrut Mahotsav and the «Year of 50th anniversary of the attempt to murder democracy.

Haryana Staff Selection Commission (HSSC) Group C result for 2024, initially scheduled for release on Monday, may be released on Thursday, as promised by CM-designate Nayab Singh Saini. As of now, the result for over 25,000 job positions has not been uploaded on the official website, leaving candidates in uncertainty. The delay has caused confusion, further aggravated by the circulation of fake results online, adding to the anxiety of those awaiting the outcome. Saini on October 11 had announced that the results of recruitment exams for nearly 25,000 posts would be released, just before the new BJP government is sworn in later Thursday.

Gold prices held below record levels on Thursday as investors looked forward to a slew of U.S. economic data that could offer more clues on the Federal Reserve's monetary easing path.

Michael Rubin has described the concept of Khalistan as artificial as Pakistan was in its infancy and cautioned the USA establishment against entertaining any Khalistani figures. In an article titled ‘Khalistani Extremism: A Growing Threat In The U.S. And Canada’ in the National Security Journal, Rubin explained, “Khalistan today is as artificial as Pakistan was in its infancy. Sir Muhammad Iqbal, Choudhry Rahmat Ali and Muhammad Ali Jinnah created the concept of Pakistan to be a separate state for Muslims upon India’s independence. The name Pakistan, coined by Rahmat Ali, was completely artificial: It was both an anagram, taking the P from Punjab, A from Afghan, K from Kashmir, S from Sindh, I from the Indus River Valley, and the last four letters from Baluchistan, and a pun: Pakistan is both a Persian and Urdu word meaning “land of the pure.”” “Khalistan, likewise, has no historical basis. As with Pakistan, Khalistan literally means “land of the pure,” although it substitutes the Persian/Urdu “Pak” for the Punjabi/Arabic “Khalis.” Khalistani separatists use the term to frame their demand for an independent Sikh state in Punjab. Sikhs comprise slightly over half the population of Indian Punjab; their population is now near zero in Pakistani Punjab due to decades of Pakistani sectarian cleansing,” he alleged.

Subscribe to enjoy similar stories. What do voters want from this election, four years of big changes or four rare years of stability? Which candidate, Kamala Harris or Donald Trump, is likely to fulfill what seems to be the electorate’s longing for a simultaneous mixture of disruption and normalcy? Mr. Trump entered U.S.

US elections to begin, Donald Trump has landed into a serious problem, as a new poll has suggested that the independents are slowly swaying away from the Republicans and opting for Kamala Harris instead. This is now a serious issue as a nearabout 9% swing has been observed in this incredibly tight poll race between Donald Trump and Kamala Harris. Gallup, which is the polling firm responsible for this latest survey data, has tracked that nearly 49% of the Independents are going for Kamala Harris, while only 45% of the Independents would choose Donald Trump.

projects under Bharatmala Pariyojana that were halted in November 2023 will now be awarded directly by the ministry of road transport and highways. Projects costing less than `1,000 crore will be awarded over the next few months, a senior official said. The government is looking to fast-track the award of road contracts that had considerably slowed down this fiscal year, with Bharatmala being put on hold due to cost escalation.