Strategy Financial News

Infosys has announced a multi-year digital transformation deal with Denmark-based STARK Group, a business-to-business (B2B) distributor of building materials. The transformation will also involve leveraging Infosys' artificial intelligence (AI) suite of services Topaz. The size and tenure of the deal was not publicly disclosed. As part of this collaboration, Infosys and STARK Group will establish a data centre in Denmark, which will serve as the foundation to drive tech advancements in the collaboration and provide services to STARK Group’s offices across Europe.

Alibaba Group Holding Ltd. (NYSE:BABA) is placing a strong emphasis on artificial intelligence (AI) and user experience under the leadership of new Chief Executive Officer Eddie Wu.

New Delhi: President Droupadi Murmu on Tuesday said India's law to protect plant varieties and farmers' rights can be emulated for the entire world, especially in the context of climate change challenges. “India has taken a lead in introducing the Protection of Plant Varieties and Farmers Rights Act (PPVFR), which is aligned to the International Treaty on Plant Genetic Resources for food and agriculture (ITPGRFA) to protect farmers," Murmu said while delivering the inaugural speech at the first-ever global symposium on farmers' rights. “My country provides a range of rights to farmers including use, re-use, save, share and sell the unbranded seeds of a registered variety.

PMS funds under these categories retain their outperformance versus largecaps. In August, benchmark Sensex shed more than 2%, whereas the BSE midcap and smallcap indices hit fresh highs. While largecap funds gave up to 6% returns in August, smallcap and midcap funds gave returns of up to 12%, data by PMS Bazaar showed. Electrum Portfolio Managers’ midcap and smallcap portfolio, Electrum Laureate, gave the highest monthly returns of nearly 12% in August. In just 6 months, it has given a staggering 43% returns. Following Electrum was Motilal Oswal’s two of the midcap and smallcap strategies, which gave nearly 10% returns each in the month of August. Roha Asset Managers’ Emerging Champions gave over 4% returns in August, but on a 6-month basis, this strategy has given handsome returns of 48%. AlfAccurate Advisors, Ambit Investment Advisors, Sunil Singhania-owned Abakkus Asset Managers’ Emerging Opportunities, InCred PMS, PhillipCapital, and Karma Capital’s Lotus were the other midcap and smallcap funds to give returns to the tune of 2-5%. Multicap category funds also did quite well in the last month, and the top performers were Samvitti Capital, Invasset LLP, Avestha Fund Management, Agreya Capital Advisors, and Bonanza Portfolio, giving 8-14% returns to investors. Eventhough profit booking was seen in largecap stocks last month, some of the largecap funds managed to give positive returns.

Nifty appear to have lost steam as both traded volatile on Tuesday amid lingering concerns over sticky inflation, higher interest rates, and a slowdown in global economic growth. Sensex opened with a strong gain of 380 points at 67,506.88 against the previous close of 67,127.08 but failed to hold altitude and fell over 150 points in the trade so far.

CIBIL Score tells lenders how responsible you are with borrowed money. It ranges from 300 to 900, and the higher your score, the better your financial health appears. It’s calculated based on your credit history and how you’ve handled loans and credit cards in the past.

According to a recent X thread, it has recently come to light that an individual has orchestrated an incredibly sophisticated Sybil attack on zkSync, a layer-2 scaling solution for Ethereum.

«No, I do not think we peaked at all. When you look at capex particularly in infrastructure, infrastructure will go on for the next couple of years,» says Sunil Mathur, MD & CEO,Siemens India.How would you view the current situation in India?There is a lot of interest in manufacturing. A lot of fresh capacity is coming up. Companies are looking at diversification. India is definitely a good place to be in and we see things happening. We see real traction on the ground. So, I believe it is not just a vision, that vision is slowly getting realised and that is what makes it so exciting.

Softening demand for talent and “unevenness and uncertainty” in the professional services market have driven below-inflation pay increases for Deloitte staff in the 2023-24 financial year.

The clean energy arm of Malaysia’s national oil and gas company Petronas intends to use acquisitions, joint ventures and organic growth to build a portfolio of solar, wind and battery storage projects totalling between 5 gigawatts and 8 gigawatts by 2030.

Dipan Mehta, Director, Elixir Equities, says “it is time to be a bit cautious and let there be a time-wise correction, price-wise correction and then maybe assess whether it is worth investing in stocks. At these levels, a lot of stocks do not have margin of safety and a new earning season will start in about four weeks' time. And if there are a few negative surprises over there, then we could have an exaggerated correction as well.”Nifty has made a new high at 20,000. Where do we go from here on? Is there any amount of consolidation or profit booking that one should do or do you think this euphoria will continue in the markets?Everybody in the market has been around for a long, long time, who basically relies on fundamentals for his judgment calls, has to say that, The market has run up a bit too fast, too high and some amount of consolidation, correction will happen.

“We believe that the Fed might take a pause in the September meeting and continue to remain data dependent,” says Devang Shah, Co-Head Fixed Income, Axis Mutual Fund. In an interview with ETMarkets, Shah, said: “Expectations of a slowdown have now been pushed towards the next year given the strong macroeconomic picture and markets now expect interest rates to remain elevated. The RBI may consider a rate cut cycle in April – June 2024” Edited excerpts:The market seems to be finding some resistance at higher levels – What is your take on markets at current?Considering the growth inflation dynamics, we believe that we have already seen the peak of the growth cycle and the near-term peak on inflation. A large part of the first half of government borrowing is behind us.

Hostess, the maker of snack classics like Twinkies and HoHos, is being sold to J

The former CEO of Alibaba has resigned as head of its cloud computing business in a surprise move as the Chinese e-commerce empire wraps up a leadership reshuffle

As the wealth management acquisition binges rolls on, Cetera Holdings on Monday morning said it was buying Avantax Inc., with close to 3,000 financial advisors who focus on clients’ taxes, for $1.2 billion in an all-cash deal.

Joe Duran has mixed feelings about the current state of the wealth management industry, one that he had a significant hand in shaping.

Explosives and fertiliser group Incitec Pivot says it is still in talks about a potential sale of its fertilisers business in a complicated transaction, even though the asset is performing below expectations as farmers switch to lower-margin products.

The animosity between Magellan Financial and the investment house’s bete noir, Keybridge Capital’s Nick Bolton, shows no sign of dissipating despite the two parties breaking bread and discussing their stand-off in late August.

Amara Raja Batteries Ltd, India’s second-largest lead-acid battery manufacturer. The battery industry is in the throes of change with the emergence of lithium-ion batteries, which are enjoying a boom in demand thanks to the rapid adoption of electric vehicles. If Amara Raja does not invest in the new technology, it will be finished.

NEW DELHI : Equity mutual funds attracted net inflows of ₹20,133.3 crore in August, the highest in five months, up 168.25% over July, according to latest data from the Association of Mutual Funds in India (Amfi). The strong traction in equity funds was led by mid-cap and small-cap funds which continued to attract investor interest during August even though large cap funds saw continued outflows amidst profit booking. “In the month of August, the equity markets exhibited a risk-on sentiment, which is also reflected in the mutual fund flow.

NatWest Group India has appointed Anil Puttegowda as the new Head of Strategy and Transformation for International Hubs. He will be based out of NatWest Group India’s Bengaluru office. Anil brings with him more than three decades of experience in growing technology organisations with a proven track record of transforming global capability centres by driving innovation at scale. Having previously served in senior leadership positions at J.P. Morgan Chase & Co., ANZ, and Bank of America Merrill Lynch, his experience lies in areas of asset and wealth management, global markets, trading, middle and back-office process re-engineering, sustainable investing, and portfolio management.