Strategy Financial News

Axis Commercial Real Estate Fund, a strategic partnership between Axis Asset Management Co and global real estate developer, owner, and operator Tishman Speyer, has acquired a 1.5-acre land parcel at Fintech City in Chennai’s Nandambakkam. The fund has acquired the land parcel through a bid cum e-auction process conducted by the Tamil Nadu Industrial Development Corporation (TIDCO). The Tamil Nadu government, through TIDCO, has envisioned Fintech City as a world-class infrastructure hub for the financial technology industry in Chennai. “Chennai investment is the epitome of the fund strategy; wherein a clear titled land parcel supported by single window clearance for approvals at city centric location has been acquired in a transparent manner by the fund. The fund is completely aligned and will seek to benefit from TIDCO’s vision and strategy of the Fintech City,” said Chetan Shah, Head – Real Estate, Axis AMC.

What went wrong? The will was written by the husband, indicating that his wife would inherit everything if she survived him, and that the property would be given away in charity if she did not, after his lifetime. When the will was read to the family, the heirs pointed out that she had inherited the wealth from him as per the will, but that there was no will written by her in which she indicated giving away the wealth to charity. His will had specified charity only if she predeceased him. The lawyers seem to agree with this interpretation. The will includes prime property worth several crores in Mumbai and the heirs are unwilling to let go, even if many were not on talking terms with the couple when they were alive. Getting good quality legal help in these matters remains a challenge. A longtime lawyer friend had apparently told the woman that she should will him the properties and that he would settle all dues and donate the money. The sensible lady had spurned the offer.

portfolio of stocks, are gaining traction among investors with the asset base of the category growing to Rs 1.43 lakh crore in three months ended June 2024, marking an increase of 31 per cent from a year ago. Interestingly, some of the focused funds offered by the mutual fund houses such as Invesco India Focused Fund, Mahindra Manulife Focused Fund, JM Focused Fund and HDFC Focused 30 Fund delivered a remarkable return of 40-60 per cent in the past year, industry data showed. Focused funds are a type of mutual fund where the fund manager selects a concentrated portfolio of stocks, typically limited to a maximum of 30 due to regulatory constraints. This requires the fund manager to be highly skilled in stock selection, as they need to identify the best investment opportunities across the market without bias toward any specific market cap or sector.

Rush Doshi, a key architect of US President Joe Biden’s China policy, served in the National Security Council in 2021-24. Author of an acclaimed book, The Long Game: China’s Grand Strategy to Displace American Order, he speaks to Seema Sirohi on the US, India and China. Edited excerpts: How do you view the India-China border situation? What would US do if there was another Galwan-type situation? First, the Biden Administration has repeatedly noted the need for China to refrain from aggressive activity around the Line of Actual Control. Second, the US is not only more public about the border dispute but even includes it alongside the South and East China Seas, Taiwan Strait, as examples of provocative Chinese activity.

Indian Ocean Region (IOR), connecting the Pacific and Atlantic Oceans, is emerging as a critical axis of global trade, skilled young population and geo-economic prosperity. However, this region has witnessed significant transformations in recent years. For instance, China's expanding influence from Bab-el-Mandeb to Strait of Malacca is posing new and unique challenges each passing day. This continues to pose challenges to the Quadrilateral Security Dialogue (Quad) group, whose sole aim is to create a cooperative bulwark against Chinese expansionism and aggressiveness. China’s economic and military might have increased, so has its interest in securing its maritime trade routes and expanding its influence across the Indian Ocean Region (IOR). Here, we are reminded of the quote by Admiral Alfred T Mahan, «whoever controls the seas controls the world». Furthermore, China’s Belt and Road Initiative (BRI) has seen significant investments in port infrastructure and maritime logistics, exemplified by projects like the Djibouti Port in the Horn of Africa, Gwadar Port in Pakistan, and the Hambantota Port in Sri Lanka among others.

direct plan. Both the plans come with two options — growth and IDCW. It is important for every investor to choose the correct plan as well as option. A growth option is suitable for investors who are not seeking Income Distribution cum capital withdrawal. This option focuses on capital appreciation and compounding impact for the investors. On the other hand, the IDCW option provides investors with regular income in the form of dividends. Regular plan — Mutual funds of regular plans are bought through a mutual fund distributor. In this plan, one may choose to invest in mutual funds with the help of a Mutual Fund distributor/agent in what is termed as a ‘Regular Plan’, according to Association of Mutual Funds in India (AMFI).

«Looking at the derivative data, major call writers are active around the 24,400 and 24,500 levels for Nifty. These levels could act as significant supply zones for any minor pullbacks. On the downside, 24,200 and 24,000 have substantial put-based concentration, potentially providing support around the 24,000 level for Nifty in the coming days,» says Rajesh Palviya, Axis Securities. Give us a technical take on the current activity in call and put options for the indices, Nifty and Nifty Bank. What levels should we expect going into next week? Additionally, do you think the correction we've seen over the week is just temporary, or could it be more long-lasting? Rajesh Palviya: This week’s volatility has seen Nifty slip below its 20-day moving average, and it has traded below this average throughout the week. Although Nifty has managed to defend the 50-day moving average, which is around the 24,000 level, this level is still protected. However, Bank Nifty has broken below its 50-day moving average on the daily chart and has not been able to recover above it throughout the week. Both indices have breached their near-term support areas, suggesting that the trend may remain slightly bearish for the next few days.

restructuring spree under new CEO Srini Pallia, IT major Wipro has elevated three veterans, as per an internal email seen by ET. Meanwhile, a senior executive who joined under ex-CEO Thierry Delaporte's watch has decided to exit the firm. Wipro has appointed Nanda Kishore, who has served the company for 30 years, as chief of delivery and operational excellence. He is currently the chief operating officer (COO) of Americas One. Dilip Dialani, who has been with Wipro for almost two decades, will take over from Nanda as COO of Americas One in Q3. Before he succeeded Delaporte as Wipro CEO, Srini had helmed Americas One as CEO. The firm is elevating the role of its chief information security officer Aathir Ahad, a Wipro veteran for over 21 years. Effective immediately, he will report to the company's COO Sanjeev Jain. Ahad will continue to shape the company's security strategy, ensuring compliance and safeguarding data, read the mail. Questions mailed to Wipro remained unanswered till the time of going to press.

Treasury investors should consider the possibility of a Donald Trump presidency after the Republican candidate said he would look to influence US monetary policy if elected, according to Wei Li, global chief investment strategist at BlackRock.  

JPMorgan Chase has become the latest firm to harness the potential of AI as it arms thousands of its employees with powerful new virtual assistant.

The Indian financial market experienced significant volatility in the past quarter. Fluctuations were notable during the national elections in June, and now with the recent declines, driven by various factors, such as concerns of recession in the US, the fallout of the Japanese Yen carry trade, and the ongoing geopolitical tensions. 

Goldman Sachs is intensifying its focus on the wealth channel as it hires a BlackRock alum to its asset management unit.

Prateek Arora is a content specialist from West Delhi with a passion for crafting compelling narratives. He has a knack for deciphering and communicating complex crypto concepts to readers all around...

According to a London Stock Exchange notice today (9 August), the trust's board and managers are in the process of assessing a number of strategies to dispose of the portfolio and «maximise shareholder value». The single sell-off is expected to take place at a discount to net asset value, which the management said reflects a more immediate return of capital while lowering the risk associated with individual sales. Shareholders vote for wind-down as abrdn Property Income sells into 'valuation nadir' The trust is currently trading at a 29.4% discount, according to data from the Assoc...

Bondurant Investment Advisory, a fiduciary financial advisory firm in Illinois, has solidified a partnership to offer its clients an upgraded experience.

Bitcoin mining company, Bitfarms has experienced a surprising surge in its stock price, rising 20% despite reporting a mixed financial performance for the second quarter.

The master fund, which at £768.8m in assets under management is the second largest open-ended UK property fund in the sector, currently invests in direct UK real estate.  At an extraordinary general meeting on 18 September, shareholders will vote on a proposal to transition the fund to a hybrid strategy. This change would reduce the fund's direct exposure to UK real estate while increasing its allocation to indirect real estate investments. The FTSE 250 asset manager also has plans to broaden the fund's geographical mandate towards a more global focus, which would include removing ‘UK...

₹150 crore this year to overhaul 25 outlets, enhancing customer experience and transforming showrooms into luxury lounges for clients to make car purchases leisurely. This is no surprise. The German luxury carmaker derives a significant chunk of its revenue and a quarter of its sales volumes from its most expensive cars, all with a price tag in upwards of ₹1 crore.

Apple Original Films has announced a sequel to the action-comedy «Wolfs,» starring George Clooney and Brad Pitt. The release strategy has changed, with a limited theatrical run before its streaming debut.

Popular Solana meme coin DogWifHat ($WIF) has lost 2% in the last 24 hours and 14% over the last seven days to trade at its current level of $1.70.

₹1,700—23% less than ₹2,300 in the same period a year ago. This, the IDC report said, occurred “due to price cuts to clear inventory, and discounts and offers by brands." Vikas Sharma, senior market analyst for wearable devices at IDC India, said that the stagnation in the market partly occurred in anticipation of the festival period. “Several new model launches by incumbent brands are expected during the upcoming festive season, which may help in arresting this decline.