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Zerodha co-founder, Nithin Kamath, recently shed light on the absence of IIT and IIM alumni among the stockbroker's employees. Speaking with Shekhar Tomar, Assistant Professor of Economics and Public Policy at the Indian School of Business (ISB), Kamath clarified that it's not a policy decision to exclude individuals from these prestigious institutions, but rather a result of historical financial constraints and cultural issues Kamath emphasized that Zerodha did not have the financial capacity to hire IIT and IIM graduates in its early years due to budget limitations. He clarified that the absence of alumni from these institutions in the company is not a deliberate policy but a reflection of the financial realities during the initial phases. According to Kamath, the company couldn't afford the price tag associated with hiring individuals from these elite institutions. He went on to explain the misalignment of priorities between Zerodha and business school students. Kamath highlighted the typical career objectives set by MBA graduates, emphasizing that these individuals often have clear goals and expectations about their career progression. Zerodha's business culture, established in its formative years, did not align with the structured career goals of business school graduates.

Bharat Forge Ltd. traded 1.28 per cent up at Rs 1239.0 on Friday at around 01:08PM (IST), while the benchmark BSE Sensex advanced 520.11 points to 71706.97. As many as 10,155 shares changed hands on the counter with a total value of Rs 1.25 crore.

Tata Power Company Ltd. gained 1.04 per cent to Rs 349.1 in Friday's session as of 01:03PM (IST) even as the equity benchmark Sensex traded 519.63 points higher at 71706.49. Earlier in the day, the stock witnessed a gap up start to the session.

Tiger Logistics (India) on Friday said it has signed an agreement with Bagladesh-based Sikder Group to establish a Joint Venture (JV) for global trade. Sikder Group handles the development and operations of the Mongla Economic Zone at Mongla Port, which is the second-largest seaport in Bangladesh, Tiger Logistics (India) said in an exchange filing.

Adani Power Ltd. fell 0.79 per cent to Rs 520.5 in Friday's session as of 01:13PM (IST) even as the equity benchmark Sensex traded 538.25 points higher at 71725.11. Earlier in the day, the stock witnessed a gap down start to the session.

Tens of thousands of public sector workers have walked off the job across Northern Ireland

HDFC Bank Ltd., the country’s biggest private sector lender. A gauge of the country’s top 12 largest banks is set for its worst week since September, erasing nearly $21 billion in market value through Thursday’s close. Two-thirds of that bruising loss came from HDFC Bank, whose quarterly numbers showed falling net interest margins and weaker deposit growth.

₹450-500 per tonne increase in domestic iron ore prices has led to spot steel spreads contracting by $75-80 per tonne. Also Read: IndusInd Bank share price falls over 2% after Q3 results; Time to buy the stock? Here’s what analysts say It forecasts coking coal prices to average $270 per tonne, however it expects prices to decline materially only in H2CY24, thus, cost pressures are likely for the H1CY24.

Apurva Sheth, Head of Market Perspectives and Research, SAMCO Securities, believes that any populist measure in the Budget which can increase the fiscal deficit will be seen in a negative light by the market participants. In an interview with MintGenie, he noted that any increase in taxes related to the capital markets like STT, Capital Gains, etc. can lead to a negative impact on the markets.

Indian Railway Finance Corporation (IRFC) achieved a significant milestone today as its market capitalisation surpassed ₹2 lakh crore for the first time, making it the ninth Indian PSU firm to achieve this feat. The stock in today's trade hit a new all-time high of ₹158.50 apiece. Over the past 10 months (including January), the stock has exhibited a remarkable upward trajectory, witnessing an extraordinary gain of 495%.

Wealthtech platform Share.Market aims to give a new dimension to discount broking in India by offering quantitative research and market intelligence that can facilitate sustained wealth creation for both retail investors and traders. “As we look to scale, we would endeavor to further strengthen our product to help retail and mass affluent investors in investment decision-making and inculcating investment discipline that is necessary for long-term wealth creation,” says Ujjwal Jain, CEO of Share.Market. The wealthtech platform plans to go live with futures & options trading by the end of March, and will look at adding more products to its portfolio in the near future. Edited excerpts from an interview with ETMarkets: How was 2023 for your wealthtech platform, a year that was highly rewarding for equity market investors? Ujjwal Jain: In 2023, our wealth platform experienced significant success, marked by our foray into stock broking with the launch of Share.Market in late August 2023, thereby rounding out our wealth offerings.

Shree Cements Ltd. traded 0.52 per cent up at Rs 26576.35 on Friday at around 12:02PM (IST), while the benchmark BSE Sensex advanced 495.25 points to 71682.11. As many as 383 shares changed hands on the counter with a total value of Rs 1.02 crore.

Trent Ltd. traded at Rs 3170.35 on BSE at 12:07PM (IST) on Friday, up 0.67 per cent from previous close. The stock quoted a 52-week low price of Rs 1155.1 and a high of Rs 3248.35.

Voltas Ltd. traded at Rs 1045.55 on BSE at 11:52AM (IST) on Friday, up 0.87 per cent from previous close. The scrip quoted a 52-week low price of Rs 737.6 and a high of Rs 1067.95.

Marico Ltd. traded 0.65 per cent up at Rs 527.7 at 11:57AM (IST) on Friday, even as BSE benchmark Sensex gained 500.34 points to 71687.2.

Metro Brands fell 5% to Rs 1,140 in Friday's trade on BSE after the footwear retail chain reported a 12.6% decline in consolidated net profit to Rs 98.8 crore for the third quarter ended December 2023. The company had posted a net profit of Rs 113 crore during the October-December period a year ago, according to a regulatory filing from Metro Brands. However, its revenue from operations increased 6.14% to Rs 635.5 crore during the quarter under review against Rs 598.7 crore in the year-ago period. In a separate filing, MBL said its board in a meeting held on Thursday declared an interim dividend at Rs 2.75 per equity share on the face value of the paid-up equity shares of Rs 5 each for the FY 2023-24. Also read: Epack Durables IPO opens. Should you subscribe to this issue? At 10.45 am, the scrip was trading 3.3% lower at Rs 1,162.4 on BSE.

Bank of Canada governor Mark Carney issued a warning at the World Economic Forum that global supply shocks are becoming more persistent, forcing central bankers to adapt to tame inflation.Carney, who also previously led the Bank of England, spoke on a panel in Davos, Switzerland at the WEF summit Thursday about how central bankers ought to adapt their approaches for the modern economy.He said the current regime has been successful so far in taming the ongoing inflationary period, as some of the supply shocks following the height of the COVID-19 pandemic and Russia’s invasion of Ukraine have unwound and higher interest rates globally have limited demand in the world economy.But he warned that central bankers cannot rest on their laurels amid ongoing geopolitical tensions and a changing economic context.“We are in a world, I would suggest, where we are going to see additional supply shocks with some relatively high degree of certainty with some persistence,” Carney said.“Effectively, the world is being rewired.”Though Carney did not directly reference Houthi attacks in the Red Sea forcing companies to divert cargo away from the key shipping corridor, he said trade routes are being “rewired” to “derisk” global supply chains.Energy systems, too, are being rewired to address climate change concerns, Carney said.

Narayana Murthy's untold story: When Wipro rejected his job application The other challenge faced by startups and budding entrepreneurs is attracting the best talent of early adopters due to negligible brand value and financial constraints, according to Murthy. He encouraged early-stage entrepreneurs to earn the respect of the government and society by ensuring good corporate governance practices, adhering to transparency and accountability with every stakeholder, and respect from customers to flourish their businesses. Sudha Murty backs Narayana Murthy's 70 hours work idea: ‘Work is a holiday…' "Respect from customers enhances repeat business.

Metro Brands, one of the largest Indian footwear specialty retailers, slumped by 6% in today's early trade, reaching ₹1,140 apiece after the company's earnings missed the street estimates. Also Read: Medi Assist IPO allotment finalised; here's how to check allotment status In Q3 FY24, the company posted a consolidated net profit of ₹99 crore, reflecting a 12.4% decline from the ₹113 crore net profit reported in Q3 FY23, driven by a sharp rise in expenses and a slowdown in sales. On a sequential basis, however, the net profit exhibited a 45% improvement compared to the preceding quarter's ₹68 crore.

The mood of the global elite meeting in Davos, Switzerland, is a useful indicator for investors—as long as they do the opposite. When the elite are depressed, buy. When they’re positive, sell.

BSE also jumped about a per cent. Around 10:15 am, the Nifty 50 was 0.83 per cent up at 21,639.40 while the Sensex was also 0.84 per cent up at 71,785.22. Here are five key reasons that appear to have given a boost to the market: Positive global cues gave a boost to the domestic market sentiment.