Strategy Financial News

Landmark Cars share price rallied nearly 8% in early trade on Friday after the company signed a dealership agreement with Mahindra and Mahindra (M&M). Landmark Cars shares jumped as much as 7.94% to ₹782.75 apiece on the BSE. In an exchange filing on Thursday, Landmark Cars said it signed a Letter of Intent with M&M for opening a dealership in Howrah in the state of West Bengal.

The MCX October gold futures were trading up by Rs 127 or 0.22% from the Thursday closing price at Rs 59,125 per 10 gram on the MCX while the December Silver futures were trading at Rs 72,038 per kg, higher by Rs 268 or 0.37%. On Comex, Gold futures were trading at $1,950.70 per troy ounce on Friday, up by $8.20 or 0.42% while Silver futures were at $23.390, higher by $0.150 or 0.650%. The October Gold futures had ended with losses of Rs 107 or 0.18% per 10 gram at Rs 58,981 on Thursday while the December Silver futures closed lower at Rs 71,800, down by Rs 672 per kg or 0.93%. «Correction in gold prices this week was on account of strength in the US economy which makes it likely that interest rates will stay high,» Neha Qureshi, Senior Technical & Derivative Analyst, Anand Rathi Commodities & Currencies opines. On Technical charts, October Gold futures witnessed the RSI indicator hitting a point where it might start going down, she said. «Right now, gold prices are above two important lines called the 50-day and 100-day EMA, which are like support levels. If they're crossed, it could mean the market is turning bearish.

EMS IPO: The initial public offering (IPO) of EMS Limited has opened today and the public issue will remain open for bidding till 12th September 2023. The book build issue aims to raise ₹321.24 crore from its initial offer. The water treatment and waste water management company has fixed EMS IPO price band at ₹200 to ₹211 per equity share.

Bangladesh Prime Minister Sheikh Hasina, a close ally of India, is visiting India as a G20 invitee and her meeting with Prime Minister Narendra Modi on Friday assumes significance ahead of the parliamentary election in her country in January 2024. Over the past decade India has launched several cross-border connectivity and energy projects to boost the Bangladesh economy, complementing efforts undertaken by the Hasina government. Bangladesh is emerging as a link to landlocked Northeast India. Japan, Bangladesh and India have formed a trilateral to connect Northeast India via Bangladesh to the Bay of Bengal.

Wealth managers, however, believe investors must have a higher risk appetite and patience as such investment cycles could often take longer than anticipated to play out. Fund managers believe all companies face challenges across their lifecycles. Challenges could come from competition, regulations, or board-related conflicts. During such times, many companies with sound fundamentals could see sharp corrections, which present an entry point for investors as strong companies with sound management will come out of such situations.

By Rae Wee

Two digitally native wealth management firms are merging into a digital family office serving entrepreneurs, professionals and retirees.

James Fayssoux Sr. is still working at 75 rather than enjoying retirement because he lost a substantial amount of money when a brokerage firm churned his portfolio.

The NSW government’s $108 billion investment manager is facing a shake-up, as Treasurer Daniel Mookhey orders a consolidation of its funds as part of a strategy to slash the state’s debt bill.

No matter how they may be portrayed in movies and on television, the majority of ultra-high-net-worth investors are not single-mindedly focused on lowering their taxes. They are actually more concerned about their kids becoming rich little creeps, a new study shows.  

Prominent Bitcoin (BTC) mining firm Riot Platforms has reported significant cost savings and operational achievements due to an innovative energy strategy that saved the firm around $31 million in August alone.

G20 Summit, ICC Men’s Cricket World Cup, and the wedding season. The outlook for the stocks remains strong, despite a weak second quarter due to the monsoon. Analysts said the recovery in international tourist arrivals to pre-covid levels will boost demand.

NEW DELHI : New Zealand firms are interested in exploring limited trade arrangements with India to expand cooperation in agriculture, dairy and horticulture, among others sectors, said representatives of Kiwi trade groups during a recent visit to Delhi. Bilateral talks on a free trade agreement stalled in 2015. “We have come up with a large delegation here (to Delhi) and it’s really around building partnerships," New Zealand trade and agriculture minister Damien O’Connor said during a visit to India in August.

NEW DELHI : Prime Minister Narendra Modi may launch the much-anticipated Global Biofuels Alliance on 9 September during the upcoming G20 summit, said two people aware of the development. The marquee alliance with India, the US and Brazil as its founding members has received interest from 19 countries, from the G20 as well as outside it.

₹436.45 apiece, and have gained 34% so far in 2023, sharply outperforming the nearly 9% rise in the Nifty 50 index. Recall that the stock had already seen a strong rally in 2022. In the June quarter (Q1FY24), IHCL’s occupancy and ARR for its domestic business stood at 67.1% and ₹9,128, respectively.

WASHINGTON—Ashley Lair was struggling to pay rent when she decided to leave her bartending job last year and pursue a new career in the construction industry. Now, a year into her apprenticeship, Lair drives haul trucks and transports dirt, gravel and rocks for a highway project. She earns $38 an hour, plus overtime—more than double her pay as a bartender.

free trade seems to be over. How will the world economy fare under protectionism?" This is one of the most common questions I hear nowadays. But the distinction between free trade and protectionism is not especially helpful for understanding the global economy.