Strategy Financial News

InvestmentNews columnist Ed Slott got a lot of people thinking about Roth IRA and Roth 401(k) strategies this week — and whether traditional tax-deferred saving should be anyone’s go-to in the current tax environment.

Terri L. Conger and her team have made a break from Merrill Lynch and joined LPL Financial to set up an independent practice, Pacific Legacy Wealth Partners.

MUMBAI : Mahindra and Mahindra (M&M) Ltd has evinced interest in acquiring as much as a 9.9% stake in private bank RBL Bank Ltd, after picking up a 3.53% stake in the latter a week ago. “We may consider further investment subject to pricing, regulatory approvals, and required procedures. However, in no circumstance will it exceed 9.9%," said the Mahindra group in a regulatory filing on Wednesday evening while commenting on the stake acquisition in RBL Bank, which has recently expressed its new strategy to shift from bulk to granular deposits model to expand the bank’s margins beyond 5%.

Mint. Value retail typically finds favour with India’s middle-income consumers who aspire to wear branded clothes, but do not have a budget to buy established foreign brands. The new format will sell private labels but not follow the Shoppers Stop format under which it also retails third-party brands.

US Federal Reserve meeting outcome. Oil prices have rallied for four weeks, buoyed by signs of tighter supplies, largely linked to output cuts by Saudi Arabia and Russia, as well as Chinese authorities' pledges to shore up the world's second-biggest economy. Brent crude futures were down 32 cents, or 0.4 per cent, at $83.32 a barrel, while US West Texas Intermediate (WTI) crude was at $79.32, down 31 cents.

I am a 49-year-old failed businessman. Hitherto, I have been in the construction business, and tried my hand at running a production house and a restaurant. But, I suffered losses in all these ventures. Now, I want to start afresh. I have land assets worth more than ₹100 crore. What should I do to get a loan for my new business project? —Name withheld on request It seems like you have a number of assets and a breadth of business experience.

NEW DELHI : Packaged consumer goods company Marico Ltd has signed a definitive agreement to acquire a majority stake in Satiya Nutraceuticals Private Ltd that owns plant-based nutrition brand Plix for ₹369 crore. “In line with our strategy to accelerate our diversification journey, the investment in Plix not only expands our total addressable market in value-added wellness foods and nutrition segments, but also brings another digital-first brand with a distinct value proposition into our fold," Saugata Gupta, MD and CEO, Marico, said in a filing with the exchanges. The acquisition of 32.75% of the paid-up share capital of Satiya Nutraceuticals on a fully diluted basis, through primary infusion and secondary buyouts, was completed on 26 July 2023; acquisition of remaining 25.25% of the paid-up share capital of the company will be completed in one or more tranches by May 2025, subject to terms and conditions of the definitive agreements, the company said in its filing.

Northern Arc Capital has announced that its machine learning (ML)-based analytical tool, Nu Score will aid the underwriting and risk assessment for Gujarat-based NBFC, Pahal Financial Services. With this real-time insights from Nu Score, Pahal Financial Services foresees disbursements of Rs 2,000 crore to its 6.5 lakh borrowers in the 2024 fiscal.

Property consultant Colliers India has adopted a flexible office strategy and as part of this, has moved into a new managed office space at Tablespace in Pune. Over the past three years, this is the fifth new office picked up by Colliers India, after Bengaluru, Gurgaon, Mumbai, and Hyderabad.

Coca-Cola Company on Thursday said it has registered growth in the beverage market in India despite having a challenging summer with rains, its Chairman and CEO James Quincey said. In the June quarter, China was affected due to specific local conditions and recovery was slowed in the second quarter. Consumer confidence is below the pre-pandemic level, he added.

WASHINGTON—Federal regulators want to impose new guardrails on the way retail investment firms such as Robinhood Markets use advanced analytics to encourage customers to trade, the latest in a series of policy efforts prompted by the 2021 meme-stock craze. The Securities and Exchange Commission plans to propose a rule Wednesday that would hold algorithms that predict, guide or forecast investors’ behavior, in certain cases, to a similar standard as investment advice. It would require brokers and advisers who deploy such tools to “neutralize or eliminate" conflicts of interest they create.

All the boring old ways to save money made a comeback the past 18 months as the Federal Reserve increased interest rates to fight inflation. Savers piled into government I bonds, high-yield savings accounts and staid bank certificates of deposits chasing better returns on their money. Fortunately for those who never bothered to move their cash to greener pastures, there is still time to give your savings a boost, financial advisers said.

ReNew Power and clean energy solutions provider Gentari on Wednesday announced a strategic collaboration to form a 50:50 joint venture for exploring avenues to invest in 5 GW renewable capacity in India. The collaboration between the parties follows Gentari's initial investment for a 49 per cent equity stake in ReNew's 403 MW Peak Power project in May this year, a company statement said.

A month after launching a new digital marketplace for alternative investments, iCapital is rolling out a new tool to help advisors incorporate alts and structured products into client portfolios.

Driven by robust first quarter earnings and the first-ever buyback proposal of Rs 10,000 crore, engineering behemoth Larsen & Toubro’s stock touched all-time high of ?2,673.60 on the BSE, Wednesday. L&T's Chief Financial Officer, R Shankar Raman tells Kalpana Pathak that the company plans to consider a buyback once every few years. Edited excerpts:Your share price is doing well. Why did you decide on a buyback?We have surpluses beyond our requirements, not for all times to come, but at least for some time to come.

renewable energy portfolio comprising of solar, wind and energy storage projects. This comes in the backdrop of ReNew lining an ambitious ₹35,000 crore capital expenditure plan. Mint reported about the proposed partnership on 8 August last year for setting up green energy projects in India in JV mode.

SBB abruptly ended talks with Canada’s Brookfield Asset Management Ltd. over the sale of a 51 per cent stake in a portfolio of school buildings, reflecting the struggles the embattled Swedish landlord faces to close a looming funding gap.

Tech Mahindra announced the June quarter results on Wednesday and reported a 13 percent IT attrition rate for Q1FY24, a 9 percent increase from 22 percent in the corresponding quarter of last year. The total headcount of staff -- including software and professionals, BPO professionals, and sales and support -- stood at 1,48,297 for the quarter ended 30 June, 2023, down 4,103 quarter-on-quarter. This was a 2.7 decline QoQ and 6.2 percent YoY.

Mumbai: Payment solutions provider Hitachi Payment Services on Wednesday said it has entered into an agreement with Writer Corp, a multi-business enterprise, to acquire its cash management business. Writer Safeguard, the cash management business of Writer Corp, has been providing services including ATM cash replenishment and retail cash pick-up services to corporate clients in India since 2001.

ecommerce market by 2030, according to a report on Wednesday by strategy consulting firm Redseer. The report describes households earning between Rs 2.5 lakh and Rs 10 lakh annually as ‘mass’ consumers and those earning above Rs 10 lakh as ‘affluent’. The mass section, the report said, would contribute to almost $135 billion (45%) in gross merchandise value (GMV) for ecommerce by 2030.

Osaic has welcomed its first advisor team since it rebranded and began the consolidation of its large network of broker-dealers.