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Navneet Munot, MD and CEO of HDFC Asset Management, has been elected as the Chairman of Association of Mutual Funds in India (AMFI). Navneet Munot is a Chartered Accountant and a CFA charter holder and has over three decades of experience in financial services. “I am hugely excited about the opportunities that lie ahead for the industry. I look forward to collaborating with my industry colleagues and working under the guidance of our regulator SEBI to propel the mutual fund industry to even greater heights. Together, we'll strive to enhance the financial well-being of our investors and bring greater prosperity to our nation. For AMFI as an organization, I look forward to continuing the strong legacy and building on the AMFI 2.0 strategy that has been outlined to strengthen AMFI.”

Gold prices slipped on Tuesday after rising nearly 2% in the previous session as investors cautiously turned back to riskier assets and looked forward to further cues on the U.S. central bank's policy stance. Spot gold was down 0.3% at 1,856.39 per ounce as of 10:58 a.m. EDT (1458 GMT) after rising to a more than one week high earlier in the session.

Siemens AG, German multinational technology conglomerate plans to make India hub for mass transit solutions, company executives said today. «The $3 billion large order (from Indian Railways) that we won, will for sure accelerate component and locomotive manufacturing here,» said Peter Koerte, Chief Technology Officer and Strategy Officer, Siemens AG, adding that Siemens also has a site where it develops a lot of infrastructure solutions and wants to use India as a hub for mass transit solutions which is a huge opportunity. Early this year, Siemens signed a Rs 26,000 crore ($3.25 billion) contract with Indian Railways to supply and service electric locomotives for freight movement in India. The deal is the biggest locomotive deal in the history of Siemens Mobility and the single largest order for the company in India. As part of the agreement, Siemens will deliver 1,200 electric locomotives of high capacity 9000 horsepower (HP) and also provide servicing for 35 years to the Railways.The deliveries would be undertaken over an eleven-year period. Siemens said it has engineering capacities in India (30 factories) and wants to build and look at how it can develop this further for the region. «We already have the Pune-Hinjewadi project with the Tatas.

Narendra Modi chaired a high-level review meeting on Tuesday to review the progress on schemes that were announced by him on Independence Day. With a special focus on welfare projects for women, PM Modi had announced making 2 crore Lakhpati 'didis' that is making 2 crore women engaged in self-help groups (SHGs) or Anganwadis Lakhpatis and empowering 15,000 women SHGs. During the meeting, he took stock of the various livelihood interventions planned to achieve this target. In his Independence Day speech, the Prime Minister announced the Centre's plan of equipping 15,000 women SHGs with drones for agriculture and related purposes. PM Modi was given an overview of the plans to implement this, ranging from training of Women SHGs to monitoring activity. The Prime Minister had also spoken about taking the number of Jan Aushadhi Stores in India to 25,000 from 10,000 currently to increase the reach of affordable medicines. In Tuesday's meeting, PM Modi reviewed the implementation strategy for this expansion. Earlier this month, PM Modi chaired another meeting to review the progress of schemes including ensuring affordable credit for poor and middle-class housing. Also in his speech, the Prime Minister mentioned ensuring solar power for households and the meeting reviewed preparations to execute the scheme.

Mumbai: Back in April 2022 when the funding winter for the startup ecosystem had just about set in, social commerce-focused online e-grocer DealShare started out on a path that would change the face of the startup, eventually triggering a change in its leadership and business model. The change was coming at an odd time. DealShare had set up shop in eight states, and had announced plans to aggressively expand that footprint.

Leading crypto gold project Tether Gold (XAUT) has seen a +1% price increase amid bullish movements in underlying 1:1 gold prices (per troy Oz) - fuelled largely by increased geopolitical risk stemming from the developing Israeli confrontation with Hamas.

By Fraser Stark

Puravankara Limited recorded a sale value of Rs 1,600 crores for Q2FY24, the highest-ever for any quarter since inception for the company. The company reported a 102 per cent increase in sales value in the second quarter, compared to Rs 791 crore of sale value in Q2FY23. Ashish Puravankara, Managing Director, Puravankara Limited, said, “For the second quarter of FY24, pre-sales have increased more than twofold, showing a remarkable growth of 102 per cent compared to last year.

HR Evolution Perspectives 2023 report reveals that CXOs across India today project high growth and profitability in the coming few years. While 83% of CXOs across India say they expect revenue growth in the upcoming years.

Mint breaks down how. Hassan’s visit drove India’s relationship with Tanzania forward in key ways. First, bilateral ties were elevated to the level of a strategic partnership.

Daniel C. Silva, former assistant US attorney and shareholder at law firm Buchalter, believes that Sam Bankman-Fried's defense might be setting the stage for a potential appeal if the disgraced crypto boss is found guilty. 

The real estate market in India is booming, with a myriad of growth prospects for the years to come. In the current year, the market stands at a whopping USD 265.18 billion and is anticipated to reach USD 828.75 billion by 2028, growing at a CAGR of 25.6%, according to a study by Mordor Intelligence. Despite this current growth after the pandemic, real estate has always been a safe haven for investors to earn a long-term profit. Similarly, for developers, it is a lucrative avenue as it provides several opportunities to not only showcase modern architecture but also earn a hefty ROI (return on investment).

Ashutosh Bhargava, Fund Manager and Head of Research, Nippon India Mutual Fund, says “in terms of quality, 80-85% of the fixed income assets are in the investment-grade category and where most of the assets are into government or government-related securities. We are keeping both duration and credit risk low as far as our sustainable strategy is concerned.” A lot has been said about the balanced advantage fund, a category which is much safer than an aggressive approach in a complete equity-oriented portfolio. Talking about having an exposure in equity as well as in debt, how are fund managers allowed to place themselves in terms of exposure, in terms of ratio in equity and debt in a balanced advantage category? As the name itself suggests, there is an advantage for a typical balanced fund. In a typical balanced fund, one can remain 65% to 70% invested in equity and the rest 30-35% in fixed income. In balanced advantage funds, you can bring down the net equity exposure significantly below 65% to say 30%. That happens because of the model which is involved in these kinds of funds. This model ranges from valuation-based models to more hybrid kinds of models. The idea here is to reduce the drawdown, to move between equity exposure from say 30% to 80% based on the signals that you are getting on valuation and other trend indicators.

India's space economy has the potential to reach USD 44 billion by 2033 with about eight per cent of the global share. Presently, the country's share in the global space economy is 2 per cent, said a top government official on Tuesday.

Key Takeaways

Key Takeaways

Key Takeaways

festive season. The first step is to create a budget to establish how much you can spend. “To avoid it, set a practical budget, keeping it within 50% of your monthly income.