Strategy Financial News

Online investments app Robinhood said Thursday that it's set to launch its platform in the U.K. in early 2024, marking the company's third attempt at cracking international expansion.

Arvind Fashions share price has been on a roll in November so far. Arvind Fashions share price has surged almost 35 per cent in November so far while the Sensex has gained nearly 5 per cent. Year-to-date, Arvind Fashions share price is up over 24 per cent while the Sensex has gained about 10 per cent.

World Cup, the final of the 2023 ICC World Test Championship and the ODI World Cup final clash. Despite these achievements, India's trophyless run in ICC events continued, with a recent loss to Australia in the ODI World Cup final at the Narendra Modi Stadium. Suryakumar Yadav has been handed the leadership role for the T20I series against Australia.

Consumption is a theme that has always been a play on India within the emerging market basket, given its enormous size of the population, favourable demographics, and changing preferences particularly among the lower- and middle-class segments. This is one theme that Arvind Kothari of Niveshaay Investment Advisory is extremely positive on, and within this, the smallcase manager prefers discretionary players. “The discretionary space looks interesting to us, and we are comfortable about investing in companies where valuations are more palatable,” Kothari, who is the founder of the investment advisory firm, said in an interview with ETMarkets. Besides consumption, Kothari is also betting on the manufacturing theme, and believes that a third term for the incumbent government in 2024 would back these two themes as it would signify political stability, and continuity of reforms. “If the Indian economy maintains the anticipated growth trajectory, these two themes are well-positioned to be influential in the journey,” he said. Edited excerpts: What’s your take on the current market trajectory as India seems to be outpacing most of its EM peers, notwithstanding the global risks.

Snowflake forecast quarterly product revenue above estimates on Wednesday, as increasing adoption of artificial intelligence boosted demand for its data cloud offerings. Shares of the Bozeman, Montana-based company surged nearly 7% in after-hours trading.

Charlie Munger, an army veteran and a lawyer by training, in his near century-long life can be best described as the paragon of wisdom. Over the past several decades, Munger has liberally shared his thoughts on investing and life with the world at large through his interactions with the media. Even in his 90s, Munger was mentally sharp and his wisdom unparalleled. His multidimensional approach to investing has left an indelible mark on the investing world.

“India, with its relatively superior economic and corporate earnings growth, could attract higher global flows than what we have seen historically," Rupen Rajguru, Head Equity Investments and Strategy, Julius Baer India. In an interview with ETMarkets, Rajguru who has over has over 19 years of experience in the Indian Capital Markets said: “While India remains an expensive market vs the EM peers, we believe that stronger earnings growth, macro stability and better visibility will help the country to enjoy the premium valuations,” Edited excerpts: We are approaching the last month of the year 2023. Where are markets headed? The Indian markets seem to be on a good wicket at the current juncture, albeit some near-term intermittent volatility which again could be driven more by global factors.

Gautam Trivedi, Co-Founder & Managing Partner, Napean Capital, says “the market is now starting to accept that there is a certain different valuation metric we should be applying to the new age tech companies. These companies are changing the way we live and behave, whether it is Zomato, whether it is insurance online or Paytm. Going forward, these are companies you want to keep owning from a longer term perspective.” Let us look at something which is in the public domain, something which we have discussed in the past, your top holdings, Varun Beverages, Landmark, Inox Wind, Sampada. Have your top five holdings changed or are they still intact? These are the top five holdings on a mark to market basis. So these are actually companies that we are a bit more of a special sits (situations) fund. We look for steady compounders as well. Varun Beverages, interestingly, was a special sits which became a steady compounder. Landmark Cars, is the other sector which is compounding – the auto space. Inox Wind, is a special sits investment because the government policy has changed favourably towards wind power because there was too much focus on solar given the fact that solar energy is only available from eight o'clock in the morning to about 4.30 or 5.00 p.m. in the afternoon.

By Akanksha Khushi, Sayantani Ghosh and Krystal Hu

Loco, a gaming-focused streaming platform, has laid off around 40, or 36%, of its 110 employees. The company announced the layoffs during a town hall meeting with employees on Wednesday, even as it plans to expand operations overseas. Anirudh Pandita and Ashwin Suresh, the founders, told employees that the layoffs are part of the firm’s restructuring strategy, said people aware of the matter.

Essar Oil UK will invest $3.6 billion into a range of energy-efficiency and carbon-capture initiatives over the next four to five years. This will enable the company to decarbonise its production processes by 2030, its chief executive said. «Our focus is to decarbonise all the production processes,” Deepak Maheshwari said. Of the $3.6 billion, $2.4 billion will be invested at its site in Stanlow, between Liverpool and Manchester in the UK, and $1.2 billion in India. The investment, he said, will come from the company's own cash flows, a mix of debt and equity, and the UK government's subsidy for low-carbon initiatives which is termed as ‘contracts for difference’. Essar had in February announced the launch of Essar Energy Transition, an initiative to create an energy transition hub in Northwest England. »We see ourselves in a very unique position...by the time all government approvals are received, we would have implemented at least two of our hydrogen projects.

Microsoft will take a non-voting, observer position on OpenAI's board, the ChatGPT owner's newly reinstated CEO Sam Altman said on Wednesday. Microsoft, one of the artificial intelligence startup's main backers, was not immediately available for comment.

HCL Group is moving closer to setting up an Outsourced Semiconductor Assembly and Test (OSAT) facility — also termed as a chip packaging unit — in Karnataka, multiple people aware of the developments told ET. The facility will be «small-to-medium sized» with an estimated investment of about $400 million, they added. The group — best known for its $12.6 billion IT arm HCLTech — is in active talks with the state government, which has offered land both near the international airport in Bengaluru as well as in Mysuru.

Pollution is causing respiratory illnesses and deaths to rise in Indonesia's island of Java, including the capital, Jakarta

Open-source blockchain platform IOTA has unveiled its Abu Dhabi Foundation as part of its strategy to kickstart its Middle East expansion plans.

It has been an interesting two years since the S&P500 struck its all-time high at $4818 on January 4, 2022. Although the Bears feel pretty beat up by now and the Bulls invincible (the latest weekly AAII reading stands at only 24% Bears and a whopping 45% Bulls) remember the Bulls have so far been the losers. So, if you are a Bear and have lost money, please examine your entry and exit strategies. Namely, this has been a tough market for everyone, as many probably sold longs and/or covered shorts too late. Market participants have been so conditioned to trending markets since at least 2009 and possibly as early as 1974 (!) that many have forgotten, or may never have experienced, that sideways is an option, too. The main winners since the ATH are those who stayed nimble, took (partial) profits, and raised stops prudently.

By Svea Herbst-Bayliss and Laura Sanicola

The United Auto Workers (UAW) union announced Wednesday their plan to unionize electric vehicle maker, Tesla (NASDAQ:TSLA) as well as the entirety of the nonunion auto industry in the United States.

The Supreme Court’s conservative majority cast doubt on the Securities and Exchange Commission’s use of in-house judges, hearing arguments in a case that could strip the agency of a key enforcement tool.

MUMBAI : Robust domestic buying as well as short-covering by foreign institutional investors (FIIs) ahead of the assembly election results on 3 December propelled BSE’s market capitalization to $3.99 trillion on Wednesday, well past the government’s nominal gross domestic product (GDP) forecast of $3.62 trillion for the current fiscal (FY24). The Nifty 50 index reclaimed the 20,000-mark after a span of two months.

Charlie Munger, the longstanding partner of Warren Buffett and a cornerstone of Berkshire Hathaway (NYSE:BRKa) (NYSE:BRKb), whose contributions helped generate wealth and prosperity for all its shareholders, has passed away at the age of 99.