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According to a trading update published today (25 April), Schroders' total assets under management grew from £750.6bn in the final quarter of 2023 to £760.1bn at the end of March, behind the anticipated £769bn.  Jefferies analyst Tom Mills said Schroders had missed several analysts set targets despite several factions' AUM was still up on the previous quarter. Schroders CEO Peter Harrison to retire in 2025 Within the firm's asset management division, which includes private markets, solutions, mutual funds and institutional, AUM rose from £532.2bn at the end of 2023 to £534.5bn. How...

Barclays is supposed to be cutting£0.7bn of costs from its investment bank, but it hasn't made much progress yet. Today's first quarter results show operating costs in the business were just £31m lower in the first quarter of 2024 than the same quarter of 2023. Only another £670m to go.  

core inflation is higher than that of food inflation and the response of core inflation to fuel price shock becomes significant and large during global uncertainties, said a research paper by RBI economists. Food inflation is better anchored since the central bank moved to flexible inflation targeting as its policy goal, the paper said. The paper assessed the degree and duration of the potential second-round effects of food and fuel price shocks on headline inflation. " Our analysis suggests that headline inflation reverts to core inflation and not vice versa. While there has been a decline in the volatility of fuel inflation, its impact on core inflation has turned significant of late" said Harendra Kumar Behera and Abhishek Ranjan from the Reserve Bank's department of Economic and Policy Research. The views are however those of the authors. The article tried to estimate the impact of food and fuel inflation shocks on core inflation to assess second-round effects as it helps to assess whether monetary policy should react to temporary supply shocks. The response of core inflation to food inflation shock is found to be the highest during the 2nd to 3rd quarter and starts dampening thereafter.

NMDC with a 'buy' rating, establishing a target price of ₹297 per share. Despite the company's shares already surging by 140% in just 10 months, this new target price suggests another 20% increase from the stock's previous closing price of ₹248 per share. Additionally, reaching this target would mark a 14-year high for the stock, with the last similar milestone achieved back in April 2010.

Hero MotoCorp shares to ‘Buy’ from ‘Reduce’ earlier. The brokerage raised Hero MotoCorp share price target to ₹5,100 from ₹4,800 earlier.

Sam Pitroda, the chairman of the Indian Overseas Congress, made comments about inheritance tax that led to a political controversy. Prime Minister Modi criticized the Congress party, claiming that they intend to impose higher taxes and prevent individuals from passing on their hard-earned wealth to their heirs. In response, the Congress party distanced itself from Pitroda's statements. Party spokesman Jairam Ramesh pointed out that former Prime Minister Rajiv Gandhi had abolished estate duty in 1985. Pitroda backed the idea of an inheritance tax and cited the example of the US. «Nothing wrong in accumulating wealth but to what point? Let me tell you, in America there's an inheritance tax. So, if let's say one has $100 million worth of wealth, and when he dies he can transfer probably 45% to his children, 55% is grabbed by govt. Now that's an interesting law. It says you, in your generation made wealth, and you are leaving now, you must leave your wealth for the public — not all of it, half of it, which to me sounds fair. In India you don't have that. If somebody is worth $10 billion and dies his children get $10 billion. The public gets nothing. So these are the kinds of issues that people will have to debate and discuss.» Here is a look at what inheritance tax is.

Vedanta leading as the top gainer. Starting the year at ₹258.55 per share, Vedanta's stock has surged to the current price of ₹383.45, marking a return of nearly 50%. Currently, the stock is trading at its 24-month high.

₹4655.05 against its previous close of ₹4732.55 and fell about 2.8 per cent to the level of ₹4,599.05. Around 11:15 am, LTIMindtree share price traded 2.76 per cent lower at ₹4,602 apiece. Equity benchmark Sensex was 0.15 per cent up at 73,966.45 at that time.

'inheritance tax' in India, an old video featuring Nikhil Kamath, co-founder of Zerodha, where he is discussing the issue with Mint, has surfaced. In the video, Kamath expresses his support for inheritance tax in India. “When wealth is passed down from one generation to another, there needs to be a mechanism in place to redistribute a portion of it.

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₹2,218.00 apiece on the BSE after muted Q4 results. FMCG major Hindustan Unilever (HUL) reported a standalone net profit of ₹2,406 crore in Q4FY24, registering a decline of 6% from ₹2,552 crore in the same period last year. The company’s revenue from operations rose marginally to ₹14,693 crore from 14,638 crore, YoY, with 2% volume growth.

Rail Vikas Nigam Ltd (RVNL), Indian Railway Finance Corporation (IRFC) ,IRCON International , RITES Ltd , RailTel Corporation of India share prices may see up to 30% more upside suggest technical thematic report by Prabhudas Lilladher Pvt Ltd. Rail Vikas Nigam Ltd (RVNL) share price is trading close to ₹284 levels. Prabhudas Lilladher has given a target price of ₹315-340 with a stop loss at ₹255 for Rail Vikas Nigam Ltd (RVNL) share price.

Day trading stocks to buy today: Following weakness in the Asian stock market, the Indian stock market opened lower on Thursday, ending its four-day winning streak that started last Friday. The Nifty 50 index is down by nearly 60 points, the BSE Sensex is down by over 200 points whereas the Bank Nifty today is down by nearly 170 points. Asian equity markets dropped after Meta Platforms Inc.’s disappointing outlook raised concern about whether the industry that has powered the bull market in equities has run too far.

₹ ₹1,658.75 apiece on the BSE. RBI on Wednesday directed Kotak Mahindra Bank to cease onboarding new customers through its online and mobile banking channels and issuing fresh credit cards with immediate effect. The central bank has barred the private sector lender from new issuances due to deficiencies in the bank’s IT system in 2022 and 2023.

Biocon with a target price of Rs 340. The current market price of Biocon Ltd. is Rs 292. Biocon Ltd., incorporated in the year 1978, is a Large Cap company (having a market cap of Rs 34769.38 Crore) operating in Pharmaceuticals sector.

Aditya Birla Group (ABG) chairman Kumar Mangalam Birla said Vodafone Idea (Vi) is a national asset, and the successful conclusion of its Rs 18,000 crore follow-on public offer (FPO), India’s largest, marks one such turning point for the telecom industry. “Vi is not just a telecom company. It’s a national asset with 215 million users and about 8000 MHz spectrum. That so many marquee investors participated in this equity issuance is a testament to the government’s vision of a digital India,” Birla said in an official statement following Vi’s FPO listing on the NSE Thursday. He added that the emphatic oversubscription of Vi’s FPO, with the overall book being subscribed 7 times and the institutional book being subscribed 19 times, demonstrates the tremendous potential of the India digital story and Vi’s role in it. “The robust engagement from both foreign and domestic investors is heartening. Notably, the full subscription of the retail portion is truly commendable, given the sheer scale of the offer.”

Lupin with a target price of Rs 1770. The current market price of Lupin Ltd. is Rs 1585.25. Lupin Ltd., incorporated in the year 1983, is a Large Cap company (having a market cap of Rs 71997.27 Crore) operating in Pharmaceuticals sector.

controversial speech of Prime Minister Narendra Modi targeting Muslims in the country, an e-mail campaign has been started by a few non-resident Gujaratis who are writing to the Election Commission of India seeking action against him. At an election rally in Rajasthan, Modi had alleged that if voted to power, the Congress will redistribute the wealth of the country and give it to the Muslims, drawing criticism both from India’s opposition parties and global media. Speaking to ET from New York, Dakshesh Patel, who is settled in the US, said that a campaign has been launched in this regard and they expect to get at least one lakh emails sent to the EC from all over the globe.

“We believe that each bull run brings forth new leaders due to significant shifts at the company, industry, national, or geopolitical level,” says Anirudh Garg, Partner & Head Research, INVasset PMS. In an interview with ETMarkets, Garg said: “Early in the cycle, we identified that the most significant changes were happening in the Capex and Capex-oriented sectors, and public sector enterprises,” Edited excerpts: Invasset PMS has garnered retention for its impressive performance in the financial year 24, standing out as a top performer. Could you share with us strategies or decisions that led to the success? Anirudh Garg: At Invasset PMS, our approach to the markets is fundamentally quantitative. For most of this financial year, we were in what we call our 'Stage Two — Growth Stage'.

yen was pinned on the weaker side of 155 per dollar on Thursday as the Bank of Japan (BOJ) kicks off its two-day rate-setting meeting, leaving traders nervous as to whether Tokyo will intervene while policy deliberations are still underway. Having traded in a tight range over the past few days, a buoyant dollar finally broke above the 155 yen level for the first time since 1990 in the previous session, and was last steady at 155.34 yen in early Asia trade.

Xiaomi has locked in 75,723 orders for its sporty SU7 electric sedan as of April 24, and aims to deliver over 10,000 units in June, founder Lei Jun said on Thursday. The delivery target sets a record for an electric vehicle (EV) startup, Lei said during an event on the first media day of the Beijing auto show. The locked-in orders, which refer to those where buyers have opted for non-refundable deposits, have come less than one month into the launch of Xiaomi's first car in late March.