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HDFC Bank managing director Sashidhar Jagdishan expressed disappointment over deposits in the quarter to June, a period when volatility in current account flows caught the country's largest private bank off guard. «I know that the most important part of our strategy is deposits, and are we happy with the kind of numbers that have come about? Not really. It has fallen short of our expectations, but frankly if you see this, this is not something new,» Jagdishan said during an analyst call after HDFC Bank released its first quarter results on Saturday. «But this time around, obviously we were a little bit surprised on the period-end numbers because of some unexpected flows in the current account which was more than what we had anticipated.»

ETV Win, a major Telugu streaming app will offer Tollywood movie lovers a roller-coaster ride with quite possibly the first Telugu family road trip comedy ‘Veeranjaneyulu Vihara Yatra’. According to the entertainment portal123telugu.com, the VK Naresh-starrer will be released directly on ETV Win, on August 14. The makers have unveiled a sleek new poster and announced that the road trip film «Veeranjaneyulu Vihara Yatra» will be available for streaming from August 14, 2024. Promotions have already begun, featuring engaging games to keep the film in the spotlight. A special strategy has been implemented to maintain buzz around the film, including a viral video of Naresh questioning director Nag Ashwin about a baby central to the plot.

Oscar Piastri won his first Formula One race after completing a McLaren one-two with Lando Norris at the Hungarian Grand Prix on Sunday. The 23-year-old Australian driver started second behind pole-sitting Norris and beat him to the first turn to take the lead. Norris got ahead after a pit-stop strategy that favored him, but he then finally complied with a request by his team to give the lead back to his partner. Lewis Hamilton finished third behind the papaya-colored pair for his 200th career podium.

That cybersecurity and its failures can impact large parts of the world was evident on Friday, when Microsoft’s Azure outage—reported to be on account of CrowdStrike, Azure’s first line of cyber defence—left large numbers of computer users staring at blue screens that did not budge, preventing work. It brought airlines, media houses and banks (among others) to their knees in diverse markets, including India. So crucial is cybersecurity now in the tech world that Google’s parent Alphabet wants to acquire Wiz, a cybersecurity startup, as New York Times reported, even if that exposes it to antitrust scrutiny from regulators worldwide.

FMCG major Godrej Consumer's advertising investment shot up by 47 per cent to Rs 1,011 crore in FY24 in the domestic market, even as it has reduced SKUs by around 30 per cent through a rationalisation process. Godrej Consumer Products Ltd (GCPL), which aims for double-digit volume growth, is spending more on brands, automation and SKU rationalisation with a «keen focus on simplification», according to the latest annual report of the company. «In line with our strategy of category development, we have made significant investments in advertising. We were the fifth largest advertiser in India in 2023, from being number 17 in 2021. We are adding to this with investments in distribution,» GCPL Managing Director and CEO Sudhir Sitapati said. GCPL's spending on 'Advertising and Publicity' was Rs 1,011 crore for the financial year ended March 2024. This was 47 per cent higher than Rs 687.34 crore a year before.

CEAT Ltd expects double-digit growth in replacement and international business this fiscal despite a high natural rubber price forcing it to hike product rates, according to its MD and CEO Arnab Banerjee. The company, which has taken price hikes of 2-2.5 per cent in the replacement segment since May, expects another round of increase towards the end of July but is betting on robust demand across categories and turnaround of the rural market to drive growth. «We would like to think that unless there are some unforeseen headwinds, the growth will be steady and positive. We would like to maintain double-digit growth in the replacement segment and international business,» Banerjee told PTI. As for the company's sales to OEM, he said, «We see growth potential much ahead of 3 per cent in the passenger segment for CEAT on the basis of the model pipeline».

In the past few years, there has been a gradual positive shift in the right direction. The government has provided clarity on taxation, and crypto exchanges are now reported entities under the Prevention of Money Laundering Act (PMLA). However, the tax rate remains high, which is negatively impacting the growth of the ecosystem. This situation has led to a migration of trading volume to international exchanges, posing higher risks in terms of compliance and customer protection.

Infosys reported robust Q1 numbers, leading to a host of positive brokerage views on the counter. The Nifty50 index on Friday closed 1.09% or 270 points lower at 24,530 while the S&P Sensex closed the day nearly 1% or 739 points lower at 80,604.65.

Congress parliamentary group meeting chaired by CPP chairperson Sonia Gandhi is likely to be held on Monday to chalk out the strategy for the upcoming budget session, sources said. The meeting will be held at the residence of Sonia Gandhi. Meanwhile, an all-party meeting will be held at 11:00 am today at the Main Committee Room, Parliament House Annexe, New Delhi.

Jitendra Singh on Saturday said all communities must join hands to fight the menace of terrorism in Jammu and Kashmir. Singh, the minister of state in the Prime Minister's Office, was in Doda, part of his Udhampur parliamentary constituency which was rocked by several terror incidents in over past three months, claiming the lives of 10 security personnel and a village defence guard (VDG). Addressing a public rally before holding a general "public durbar" lasting over three hours, the union minister reaffirmed the revival of VDGs. «The security agencies have a strategy in place to control the security situation in Doda and its adjoining areas in view of the recent incidents of terror, but such strategies are not discussed in public», he said.

Shriram Properties has appointed Gopalakrishnan J as executive director and group CEO. He is currently serving as an executive director and Group CFO. As part of this transition, K R Ramesh will assume the role of executive director — strategy and corporate development, moving from his current position as ED-Operations. Gopalakrishnan, who joined SPL in 2018, has been instrumental in driving the company's transformation and played a vital role in the IPO process. With over 33 years of experience in corporate finance and capital markets, including tenure at Reliance Industries Limited (RIL) and the Aditya Birla Group, he brings extensive expertise to his new role.

petrochemicals industry and boost the sector's growth. The minister was speaking after launching the 13th edition of the India Chem 2024 event to be held in October this year in Mumbai. «The Prime Minister desires that we have to become a USD 5 trillion economy. If we have to become a 5 trillion economy, we have to align our programmes or policies accordingly, to see to it that this petrochemical industry chemical industry also goes in the same way and aligns itself, so that we all together contribute to that USD 5 trillion economy,» Nadda said. The minister mentioned that industry representatives have talked about the challenges faced by the chemicals and petrochemicals industry and also offered various suggestions to address those issues.

LONDON : Hours before a star-studded runway show at the Tate Modern museum in May, Gucci’s billionaire owner, François-Henri Pinault, huddled with his newly installed leadership team at its London office to figure out where one of the world’s most iconic brands was headed. With his wife, actress Salma Hayek, preparing for the show at a nearby hotel, Pinault pushed his team to define where Gucci should position itself in the market: higher than it is but not too high. His executives presented plans to pare back the many iterations of the interlocking GG logo and better harmonize the brand’s aesthetics.

behavioural finance plays a key role in his investment strategy, making him a force to be reckoned with in the finance world. Let's start with your personal story I was born and brought up in Mumbai. My family was in the business of importing and trading dry fruits and spices. I used to accompany my father to his office during my school and college vacation. That gave me an early exposure to business. At an early age of 14, I was fascinated by learning about business management and decided to pursue an MBA after my graduation. However, by the time I graduated, my interest shifted towards finance and capital markets. After completing my MMS (Finance) from Somaiya Institute of Management and Research, I worked as a sell-side research analyst wherein I tracked key sectors like IT and pharma. I came across the concept of behavioural finance in 2004 and decided to move to buy-side or the mutual fund side to learn about how psychology impacts investment decisions.

iCapital is helping more advisors gain access to the alternative investment space thanks to a new strategic collaboration.

In the wake of recently raising tens of billions of dollars of capital with nontraded real estate investment trusts and business development companies, Blackstone Inc. is preparing to roll out new funds for financial advisors to sell to clients by 2025.

Top-performing firms, which outdo their peers on AUM growth, client acquisition, and new revenue per advisor, were able to sustain those efforts thanks to an intentional approach.

The overall score grew by one point from -14 in June to -13 in July, according to GfK's Consumer Confidence index. Joe Staton, client strategy director at GfK, said there was only «a subdued one-point improvement in the overall index score in July», mostly as a result of increases in two of the five measures. He noted that the «positive view» on personal finances, in particular, «is encouraging with July's score of -8,» which was two points higher from the month prior and the strongest since January 2022. Cold UK summer dampens consumer spending in June Similarly, the major purc...

work-related stress and poor work-life balance, as per a report by digital healthcare platform MediBuddy and CII. The report, which was released on Friday, also highlighted that a massive number of job seekers consider employee wellness programmes crucial in their decision-making process. The report 'Mapping India's Corporate Health and Wellness Landscape' emphasised the importance of customised wellness programmes based on employee demographics and personalised prevention strategies. As per the report, 71 per cent of employees spend an average of 5 per cent of their annual income on out-of-pocket healthcare expenses.

«Gross taxes last year were much more stronger than was envisaged in the interim budget. They actually grew at a very healthy pace of 13.5%. So, even if you make conservative assumptions for this year, the government is likely to have more tax revenues than was envisaged back in February and then of course the RBI dividend that the government got was more than double of what had been budgeted back then,» says Sajjid Chinoy, India Chief Economist, JPMorgan. I understand that you have been part of certain meetings also with the finance minister, etc, and the ministry. Talk to me about what are the big focus areas and what they are talking or concerned about right now. Sajjid Chinoy: I think there are two issues to look for in next week's budget. The first is to look closer at the fiscal math and here the government enters next week's budget with significantly increased degrees of fiscal freedom. And what do I mean by that? If you look at compare next week's budget with one in February, I think the government over kind of delivered on fiscal consolidation last year, the budget deficit for last year was 5.8%, the actual number was 5.6 and the target for this year was set at 5.1.

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