Strategy Financial News

Prominent Sydney venture capitalist Grant McCarthy helped raise funds for a company run by an Australian banker accused by authorities in the US of defrauding wealthy investors and fleeing to Bali.

markets bond index starting June 2024. Although such indices have been around for a long time, IGBs were not part of them due to a variety of reasons. However, since 2013 — when the idea of index inclusion was first floated — the Indian authorities have made steady progress in facilitating foreign investment into IGBs.

IHC) said on Thursday it is selling its stake in Adani Green Energy and Adani Energy Solutions, less than 18 months after the strategic investment company invested ₹15,400 crore in three Adani group companies. While IHC did not disclose the name of the buyer and the value of the deal, people with knowledge of the matter said the investor could be exiting at a steep loss given that stocks of both Adani Green Energy and Adani Energy Solutions (formerly Adani Transmission) were trading much below the price at which it had invested in the companies last year. IHC said in a letter to the Abu Dhabi Securities Exchange that it has entered into a definitive agreement with a buyer to sell its investments in Adani Green Energy and Adani Energy Solutions as part of its portfolio rebalancing strategy. ET's queries emailed to Adani Group did not elicit a response till press time. IHC holds a 1.26% stake in Adani Green and 1.41% in Adani Energy Solutions, as of June 30. Its investment in the two companies was worth around ₹3,327 crore, as per prices at market closing on Thursday, 57% lower than ₹7,700 crore invested in May 2022. Value of Stake in Adani At that time IHC had invested Rs 15,400 crore (around $2 billion) in three Adani companies — Rs 3,850 crore each in Adani Green Energy and Adani Energy Solutions, and Rs 7,700 crore in Adani Enterprises.

Popular investment management firm VanEck has announced its plans to roll out its Ethereum futures exchange-traded fund (ETF).

The IPO window is open, or at least it’s noticeably ajar. So what does that mean for financial advisors whose clients are interested in venture capital and seek to invest in a company before its shares hit the big board?

As the bickering begins over how much of the Canada Pension Plan fund Alberta would be entitled to if it pulls out of the national pension scheme, there is a fast-growing pool of money managed by CPP Investments on which all appear agreed the western province would have a much smaller claim. 

As digital asset options continue to gain attention and acceptance from investors, traditional financial institutions may be considering adding digital assets to their offerings and/or portfolios. As with any other industry, “standing still” isn’t an option in the financial sector, and tapping into the potential of digital assets can help TradFi organizations tap into an enthusiastic and growing new customer base. Further, adding digital assets can diversify a traditional portfolio, offering a hedge against market downturns.

(Reuters) -GameStop on Thursday named billionaire Ryan Cohen as its CEO and chairman on Thursday, tightening the activist investor's grip on the ailing brick-and-mortar videogame retailer that he intends to turn around.

By Jamie McGeever

TransIndia Real Estate Limited, an Allcargo Group company, has acquired two land parcels for warehousing with a combined value of Rs 231 crore in Gurgaon’s Farukh Nagar, two people aware of the deal said. Both land parcels are located in the Model Economic Township (MET) of Reliance Industries. The first property piece, measuring 56.52 acres, was purchased for Rs 134 crore by Allcargo Inland Park pvt Ltd, and the second, measuring 41.06 acres, was purchased by Jhajjar Warehousing pvt Ltd for Rs 97.5 crore, as per documents accessed by analytic firm CRE Matrix.

1.Mphasis: At a current market price (CMP) of ₹2,442, Religare has initiated a ‘buy’ rating on the stock and sees a potential upside of 21.2 per cent in the next 9-12 months. The IT solutions provider commands a market capitalisation of ₹46,034 crore Despite the macro challenges the IT sector is facing for the near term, we believe Mphasis strategy of investing in right growth areas such as new generation technology, partnering with companies for technology and adhering to customer centric approach will aid growth for the company,'' said Religare Broking.

International Holding on Thursday said that the company plans to dispose its investment in Adani Group firms – Adani Green Energy Ltd and Adani Energy Solutions Ltd. The decision to sell off the investment is part of the company’s plan to rebalance its overall portfolio strategy, IHC said.

Citigroup Inc. is in talks to sell its China onshore retail wealth business to HSBC Holdings Plc, as the latter continues to build out its presence in the mainland, according to people familiar with the matter.

By Brian Benza

Union Home Minister Amit Shah will visit Bhopal on Sunday to attend party meetings, take feedback from candidates and discuss strategy with the state leaders for the upcoming Assembly polls in Madhya Pradesh, said sources close to the party. Amit Shah is scheduled to arrive in Bhopal on October 1 at 11:30 AM and will stay for approximately three hours, sources said. He will also conduct separate meetings at the party headquarters with senior leaders. Notably, Shah's visit before the imposition of the Model Code of Conduct is deemed significant. So far, the BJP has released three lists of candidates in Madhya Pradesh, with 39 names in the first and second lists and only one name announced in the third list. In total, 79 candidates have been announced in these three lists, out of a total of 230 assembly seats, while the names for the remaining 151 seats in the state are yet to be disclosed. The BJP on Tuesday released its third list containing a single candidate for the forthcoming assembly polls in the state. The party also announced the list for the Schedule Tribe (ST) reserved Amarwara assembly constituency in Chhindwara district. Earlier on Monday evening, BJP released its second list of 39 candidates for the forthcoming assembly polls in Madhya Pradesh which includes four party MPs (Member of Parliament) and three Union Ministers.

Shreyas Shipping & Logistics (SSL) stock which is set to get delisted from the exchanges has announced the discovered price at Rs 890 per share against the delisting floor price of Rs 292. The company received 2,245 successful bids between the price range from Rs 292 and Rs 2,920 per equity share for a total of 4,306,743 equity shares. The number of bids received by Shreyas Shipping above the discovered price stood at 196 for 233,668 equity shares. The company had on September 18 revised its indicative price of acquisition of shares to Rs 375 from an earlier price of Rs 338 per equity share.

FREE gold IRA guide. It contains valuable information about precious metals investments to help you get started. Diversification is the key to a successful investment strategy, and including gold in your retirement portfolio can be a wise decision.

Shared Vision and ValuesThe cornerstone of a successful B2B partnership in Skill-Tech lies in the alignment of values and objectives. Both parties must share a common vision for the advancement of education and the enhancement of learning experiences. This alignment ensures that the partnership is rooted in a shared purpose, laying the foundation for a robust and enduring collaboration.

The MCX December gold futures were trading down by Rs 91 or 0.16% from the Wednesday closing price at Rs 58,192 per 10 gram on the MCX while the December Silver futures were trading at Rs 70,671 per kg, higher by Rs 122 or 0.17%. Gold futures are down 2.87% or by Rs 1,702 on the month-to-date basis while they have gained 4.83% or by Rs 2,655 on the year-to-date basis, Anuj Gupta, Head Commodity & Currency at HDFC Securities told ETMarkets. As for silver futures, the declines are to the tune of 6.78% or Rs 5,133 in September while the gains this year stand at 1.64% or Rs 1,136, he said.

ICICI Lombard. Jefferies has a buy rating on RIL and Motilal Oswal recommended a buy on Global Health (Medanta). We have collated a list of recommendations from top brokerage firms from ETNow and other sources: UBS on L&T: Buy| Target Rs 3600 UBS maintained a buy rating on L&T but raised the target price to Rs 3600 from Rs 3040 earlier. Past strategies aided capability/scale and asset light sustainability is the new strategy for the company.

Meitei and Kuki communities since May 3, the Manipur government is likely to adopt a ‘one district, one force’ arrangement for better coordination of security forces. According to the arrangement, one paramilitary force will be responsible for maintaining a law and order situation in one district, Hindustan Times reported. A security official in Delhi informed that news outlet that the move will potentially reduce the possibilities of conflicts among forces in Manipur.