Wellness Financial News

Groww experienced a technical glitch this morning, disrupting users' ability to place orders and access their Demat balances. The outage has caused widespread difficulties, leaving many users unable to use essential platform services. Taking to platform X (previously known as Twitter), one user wrote, “@_groww unable to use my Demat Balance, what's wrong?”

The U.S. Federal Reserve does not need to make an emergency rate cut, despite recent weaker-than-expected economic data, according to Claudia Sahm, chief economist at New Century Advisors.

Central Board of Direct Taxes (CBDT) has issued a circular indicating that the higher rate of TDSITCS will not apply if the deductee or collectee is deceased before the PAN and Aadhaar are linked. CBDT issued a circular regarding this on August 5, 2024. This move came after the department received many complaints from taxpayers citing instances of the deductee or collectee passing away within the specified time frame i.e., on or before May 31, 2024), before the possibility of linking PAN and Aadhaar being exercised. Due to the deductor's or collector's inability to link the deceased person's PAN and Aadhaar, tax requests are pending in these situations.

«Real estate as a sector is looking attractive to us. The only challenge is that the valuations have gone up. So, one needs to be very selective in real estate, but any kind of a price correction should be a good opportunity to buy,» says Pankaj Pandey, Head Research, ICICIdirect.com. How have you read into the standalone quarterly numbers for PB Fintech, which has been pretty strong and completely different aside of that is Cummins as well, where the profits grew about 33%? Pankaj Pandey: So, do not cover both the stocks, but if I have to talk on, say, for example, Shree Cement, the numbers are definitely below expectation. While we might see volume growth going forward because they are expanding their capacities by 15 million tonnes. But cement is seeing a lower realisation, largely more in southern markets. But in general, you see a softness in the prices and probably that is going to be there for another quarter.

«Overall sense is that in the second half things are going to be a lot more better. So, these two companies is what we are liking within the results which have come out specifically,» says Pankaj Pandey, Head Research, ICICIdirect.com. Let us begin then by talking a little bit about what is happening within individual sectors and in particular real estate. We have been talking about the relief coming in with the amendments in the finance bill. How are you looking at this news for the sector? Pankaj Pandey: See, real estate as a sector looks quite attractive to us. And after a long period of time, we are seeing improvement in the overall numbers, broader number for sector.

Anurag Singh, Founder & Managing Partner, Ansid Capital, says fundamentals do not change like that. The unwinding of carry-trade has happened now. Hopefully, that is behind us. People will not again try and play smart on this, borrowing in yen and investing in US or global markets. What do you make of first the big global meltdown on Monday and the recovery thereafter? Anurag Singh: I will not pretend to act as if I saw this coming. I was also caught by surprise. I was traveling in the last couple of weeks and was not prepared for it. Well, all fingers point to the yen carry trade. Now, of course, everybody knows how that works and looks like that because it was a quick technical selloff.

ONGC rallied 8% on Wednesday to its day’s high of Rs 329.50 despite the company reporting a 15% year-on-year (YoY) fall in its Q1 net profit at Rs 8,938 crore, which was below the ETNOW poll of Rs 9,539 crore. Revenue from operations in the same period increased 4% YoY to Rs 35,266 crore as against Rs 33,814 crore in the corresponding period of last year.

quick commerce and aggressive demand for newer direct-to-consumer (D2C) brands aided by speedy deliveries on platforms like Blinkit, Zepto and Instamart are fuelling dealmaking in early-to-mid-stage D2C brands, several executives and investors told ET. New brands have scaled much faster than anticipated due to the quick-commerce channel and that is attracting investor interest. Kids gift brand Tuco Intelligent is in talks to raise new capital from Fireside Ventures, while Peak XV Partners is likely to pick a stake in healthy bread maker The Health Factory, sources said. Gourmet Garden, a specialised organic fresh supplies brand, has started talks to raise around $10 million from a mix of investors.

Paris Olympics has seen too tough and intense basketball action this time as almost all team participating in this sport have been performing extremely well throughout the Olympic journey. Among them, Team USA has outdone them all in the main team event in men's basketball, while targeting their fifth consecutive Olympic gold medal here.

Visit Health has raised approximately Rs 250 crore in a combination of capital infusion and secondary purchase of shares from Docprime Technologies, a wholly owned subsidiary of PB Fintech, as well as other promoters and employees. The New Delhi-based company will use the funds to expand its business, including a new partnership with TatvaCare, a company specialising in the health and wellness space, Visit Health said in a statement on Tuesday, adding that the collaboration will leverage capabilities of both companies and maximise their reach in the healthcare sector. “The company’s primary capital requirement was not much because we have been Ebitda positive for the past few years. The remaining acquisition of shares can only happen through secondary transactions, involving existing entities such as Docprime, promoters, and we did a good chunk of Esop buyback as well,” said Vaibhav Singh, cofounder and managing director of Visit Health.

The Starknet Foundation (SNF) is undergoing a major leadership transition. Diego Oliva, the Foundation’s first CEO since March 2023, will be stepping down after successfully establishing a robust team and structure.

The months long concern over interest rates that broker-dealers pay on cash clients hold in investment advisory accounts took another turn this past week, with Morgan Stanley on Monday revealing that the Securities and Exchange Commission is seeking “information” about certain accounts and Wells Fargo & Co. last week disclosing it is attempting to resolve the SEC’s investigation into such cash accounts.

Raymond James has extended its network in Ohio as it onboards a veteran advisor from Wells Fargo into its ranks.

It was a busy Monday for financial advisors, many of whom were forced to spend hours on end talking clients down from proverbial ledges as the stock selloff gained steam.

If you hadn’t heard of the Sahm Rule before, you’ve probably heard of it now.

Airtel said on Tuesday. The company also said it plans to roll out fixed wireless access (FWA) broadband services on pure 5G network by September. Airtel said its mobile subscribers' average revenue per user (ARPU) increased by 5.4 per cent to Rs 211 during June 2024 quarter compared to Rs 200 in the same period a year ago. Bharti Airtel Managing Director Gopal Vittal during the company's earnings call on Tuesday said that tariff hike in July was very much required for the financial health of the industry.

Last week, The Fraser Institute released its 2024 edition of its publication Taxes versus the Necessities of Life: The Canadian Consumer Tax Index, which tracks the total tax bill of the average Canadian family from 1961 to 2023. It’s a fascinating read to see how much the average Canadian pays in taxes — not just income tax, but other taxes like property taxes, GST, carbon taxes and indirect taxes, as well.

Mint in an exclusive interview that the company sees India as a crucial market. “Globally, India is already the fourth- or fifth-highest contributing market for Krafton. In the future, India has the potential to become the biggest market for Krafton thanks to its unique position of the sheer size of the market, as well as an increasing amount of interest in e-sports in the country," he said on Tuesday.

Brokerage firm Robinhood has announced a temporary suspension of its overnight trading services due to issues with its execution venue.

The Economic Survey of 2023-24 has a distinct tone of defensiveness. While it has done well in identifying the multitude of challenges facing the country, it has not fully addressed the deep underlying causes that have led to India’s vulnerability, especially in the face of growing nationalism and climate change.