Strategy Financial News

19.07 / 04:06

Strategy Election WhatsApp wellness performer Maharashtra: Congress will have brainstorm session today in Mumbai for Assembly polls preparations

Mumbai to chart out a strategy for the upcoming assembly polls in Maharashtra. The party has scheduled a meeting of all the senior leaders of the state, which will be chaired by the General Secretary (organisation) KC Venugopal, and the AICC Incharge of Maharashtra, Ramesh Chenithalla. In the recent parliamentary elections, Congress emerged as the largest party in the state, with 13 Lok Sabha MPs, and along with Shiv Sena UBT's 9 and the NCP (Pawar)'s 8 MPs, Maha Vikas Aghadi (MVA) won 30 seats out of the total number of 48 constituencies in Maharashtra.

18.07 / 17:53

UPS CEO Strategy wellness reports South Indian Bank Q1 Results: Net profit soars 45% YoY to Rs 294 crore

South Indian Bank reported a net profit of Rs 294 crore during the quarter ended June 2024, up 45% compared to a net profit of Rs 202 crore in the June 2023 quarter. «The bank recorded a strong growth in net interest income, treasury income besides other income on account of recoveries» said P R Seshadri, MD & CEO of the Bank in a telephonic interaction with ET.

18.07 / 15:44

security Strategy Align WhatsApp reports JSW Infrastructure reports Rs 295 crore net profit, down 8.5%

JSW Infrastructure on Wednesday posted a net profit of Rs 295 crore for the fiscal's first quarter, down by 8.5%, dragged by higher expenses. Its revenue from operations for the April-June quarter rose to Rs 1,009.77 crore from Rs 878.10 crore in the year-ago period, it said in a BSE filing.

18.07 / 15:26

UPS Provident Digital Platform Strategy Trade Goldman Sachs opens up an investment strategy once reserved for the wealthy

Goldman Sachs is turning to Main Street investors to boost its fee revenue. The bank plans to offer some of the sophisticated investment strategies that it has long reserved for its deep-pocketed clients to customers of robo-adviser Betterment. Goldman is structuring portfolios for everyday investors that are meant to help them save money on their taxes, in part by moving their cash from ultrasafe bank accounts to fixed-income exchange-traded funds that involve more risk.

18.07 / 13:29

markets Citi Target FIVE Strategy pandemic stage Motilal Oswal Alternates invests ₹190 crore from its new real estate fund

₹190 crore, two company executives told Mint. The company has committed ₹100 crore to Chennai-based Radiance Realty Developers India Ltd, and another ₹90 crore to Pune-based Mantra Properties and Developers Pvt. Ltd, for their respective residential projects.

18.07 / 13:21

Citizens Strategy Death pandemic country reports Inquiry finds Britain was ill-prepared for COVID-19 pandemic and failed its citizens

An inquiry into the U.K. government's response to COVID-19 found it was ill-prepared for a pandemic and serious errors in planning failed its citizens

18.07 / 07:13

Digital security Strategy Trade show track AIF Tracker: A9 Finsight, Vivriti Asset among top 9 funds which gave over 10% return to crorepati investors in June

Data tracked by PMSBazaar.com showed that 55 AIF funds across categories have risen more than 6.6% in June 2024 compared to 6.5% rally seen in the Nifty50 in the same period.

18.07 / 07:05

markets UPS ETF security Strategy track Groww Mutual Fund files draft document for Nifty India Defence ETF

The objective of the scheme is to achieve long-term capital growth by investing in securities of the Nifty India Defence Index in the same proportion/weightage, aiming to replicate the total return of the index before expenses, subject to tracking errors. The scheme will be benchmarked against the Nifty India Defence Index- Total Return Index and will be managed by Abhishek Jain.

18.07 / 05:14

Provident Strategy Experts performer country recommendations This defence MF gave over 100% return in a year. Worth a look ahead of Budget?

HDFC Defence Fund, the only active fund based on the defence sector, has offered more than 100% return in the last one year. The scheme gave 128.52% return in the said period. The scheme has offered around 60.16% return in 2024 so far and around 55.25% return in the last six months. What is helping defence sector based mutual funds deliver this stellar performance?

18.07 / 04:13

UPS Strategy Sustainability Opinion Trade recommendations F&O Radar | Deploy Bull Call Spread in Nifty to benefit from bullish stance

Nifty index hit a fresh high of 24,661 on Tuesday after giving a range breakout on a daily frame. It has formed a small-bodied Bullish candle in the same time frame and follow-up buying seems to be intact with sustained buying. “It (Nifty) continues escalating upwards steadily within a smaller intraday range and any minor dips are getting absorbed quickly by the bulls,” said Chandan Taparia, Senior VP, Equity Derivatives & Technicals, Broking & Distribution, Motilal Oswal.

17.07 / 20:36

UPS Gap Strategy Death community President information U.S. Bank seeks to narrow wealth gap, boost African-American finances

Following the death of George Floyd, U.S. Bank decided to look for ways to economically uplift the African American community and narrow the wealth gap. It didn’t have to look very far, according to Scott Ford, president of wealth management at U.S. Bank.

17.07 / 20:32

markets COST Target Manufacturing Strategy Sustainability Godrej Consumer aims to cut global manufacturing footprint

Godrej Consumer Products said its global manufacturing footprint will reduce by 40% by FY26, part of its broader strategy to make more products in India and cut costs to improve profitability. At present, the maker of Cinthol and Good Knight has 36 plants including 14 in India. It also invested Rs 1,000 crore in two manufacturing sites in India last fiscal. «We are also reassessing our manufacturing footprint. We are questioning how much of what we make in international geographies can be made in India and exported out,» Sudhir Sitapati, MD at GCPL, said in its latest annual report.

17.07 / 16:33

markets Strategy strategies FCA: Overseas Funds Regime for EEA strategies set to go live 'later this year'

The OFR will replace the current Temporary Marketing Permissions Regime (TMPR), which has allowed European UCITS funds to access the UK market following Brexit. This is set to expire in December 2025, but the government has the ability to extend it further, if necessary. In its OFR policy paper published today (17 July), the FCA explained that funds currently operating under the TMPR will need to apply for recognition under the OFR to continue marketing in the UK. However, if such funds are not actively marketed to UK retail investors, but have been operating under the temporary regim...

17.07 / 16:29

Career CEO Strategy performer rights abrdn GARS manager exits after nearly two decades

He was a portfolio manager on the asset manager's flagship Global Absolute Return Strategies (GARS), which was folded into abrdn's diversified asset funds last year following a sharp decrease in assets. abrdn investments CEO Buehlmann: Closing GARS was 'difficult' but it was 'not right anymore' Smith started his career as a performance analyst at abrdn in 2006, and later became investment director of multi-asset and then head of dynamic multi-asset. He was promoted to head of absolute return in December 2022. He was also lead manager on the abrdn Dynamic Multi Asset growth fund, wh...

17.07 / 15:51

Provident CEO Landmark Platform Strategy Matthews wellness World Investment Advisors lands $3.5B indie firm

Shortly after its landmark rebrand, the financial advisory division of World Insurance Associates has sealed a deal that significantly expands its East Coast presence.

17.07 / 15:45

UPS SEC Strategy show Relationships Profiles Avantax extends New York presence with veteran advisor duo

Avantax, Cetera’s tax-centric subsidiary, has strengthened its advisor presence in Long Island as it welcomes a veteran advisor duo in New York.

17.07 / 15:36

Citi Provident Strategy WhatsApp band Vi expands new technology in Kolkata to enhance network infrastructure

spectrum in the 900 Mhz band in Kolkata, telecom operator Vodafone Idea (Vi) announced expansion of a new technology in 3000 sites across the city to enhance network infrastructure. This expansion is part of Vi's broader strategy to upgrade its network infrastructure, following a successful Rs 18,000 crore Follow-on Public Offering (FPO). This upgrade aims at providing a stronger indoor coverage experience for users, with superior calling and faster data speeds, Vi said in a statement. Vi has also acquired additional spectrum in the recently concluded spectrum auction, committing Rs 31 crore for 0.4Mhz of spectrum in the 900 Mhz band in Kolkata Circle and Rs 376 crore for 7.6 Mhz of spectrum in the 900 Mhz band in West Bengal Circle.

17.07 / 11:04

markets Target Manufacturing Strategy Sustainability Parke reports Raymond's consumer care sales declined under its new owner Godrej Consumer Products

Raymond's consumer care business saw its sales fall 18% under its new owner Godrej Consumer Products (GCLP) which acquired the company last year. In its latest annual report, GCPL said the company behind Park Avenue and Kamasutra brands posted sales of Rs466 crore during the eleven months ended March 2024. On an annualised basis, it is roughly Rs508 crore, 18% lower than Rs622 crore in FY23. «The acquisition was in line with the company's strategy to build a sustainable and profitable personal care business in India by leveraging the categories of personal grooming and sexual wellness,» it said in the report. «Revenue and EBITDA of the Raymond Consumer business remained on plan and stable compared to the previous fiscal year.»

17.07 / 11:03

Strategy Ex-GAM duo to lead freshly-launched Jupiter UK Multi Cap Income fund

Morrison and Gosden joined the firm back in January, where they had run GAM's UK Equity Income strategy since its launch in 2017. The pair has continued to manage the vehicle on a sub-advisory basis with GAM since joining Jupiter six months ago, which has now been merged into the Jupiter UK Multi Cap Income fund following a shareholder resolution in June. Ben Whitmore's Jupiter exit delayed to October as future of Global Value fund determined later this year During this intermediary period, the fund has returned 8% compared to 7.4% for the FTSE All-Share benchmark index, and 40.2% ...

17.07 / 10:56

markets Strategy Research wellness Former 7IM portfolio manager Peter Sleep resurfaces at family office Callanish Capital

Sleep will work as an investment director at Callanish, responsible for building out the team's investment process and research capabilities. Prior to joining the firm, he did a 17-year stint at 7IM as a senior portfolio manager of the firm's asset allocated passive funds. He will work alongside director and co-founder Oliver Murray, as well as trainee investment manager George Angier in the London office. Amundi Investment Institute names head of developed markets strategy «I am delighted to be joining the entrepreneurial culture of Callanish Capital,» he said. «I look forward to ...

17.07 / 10:50

Provident Citizens Strategy wellness show social strategies Holistic climate resilience strategies will be key to empowering people

This is part of a special series of articles by the country's foremost voices, ahead of Union Budget 2024, aiming to draw attention to the critical reforms that can help India in its journey to become a developed nation by 2047. The term ‘welfare’ in economics has a long history, with different schools of thought defining the term in different ways. The modern usage of the term typically associates it with a system wherein the government bears a major responsibility for providing socioeconomic security to citizens. Over the years, the term has also attracted criticism, as critics have associated it with excessive or unnecessary government intervention.

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