Wellness Financial News

₹1,736.00 apiece on the BSE. ICICI Lombard General Insurance Company posted a net profit of ₹519 crore in Q4FY24, registering a growth of 19% from ₹436 crore in the year-ago period. The company’s net premium written in the March quarter increased 18% to ₹4,767 crore from ₹4,047 crore, year-on-year (YoY).

large cap mutual fund, it is rational to examine the past returns delivered by the schemes across mutual fund houses to make an attempt towards gauging their long-term potential. Although investment experts often caution investors against deciding to invest in a scheme solely on the basis of its past returns, also known as historical returns, it is not wise to overlook this factor either. Here we filter out a number of large cap mutual funds based on their past returns across tenures such as one, three and five years.

A Brazilian woman has been arrested after she wheeled a corpse into a bank, presumably hoping it would help her secure a loan.

Vodafone Idea FPO: The Follow-on Public Offer (FPO) of Vodafone Idea Ltd is going to hit the primary market today. The Vodafone Idea FPO will remain open till 22nd April 2024. The telecom company has fixed the Vodafone Idea FPO price band at ₹10 to ₹11 per equity share, which is around ₹2 below Tuesday's Vodafone Idea share price closing.

Sensex declined 456.10 points, or 0.62%, to close at 72,943.68, while the Nifty 50 dropped 124.60 points, or 0.56%, to settle at 22,147.90. The Indian stock market was shut on Wednesday for Ram Navami. Nifty 50 formed a small positive body candle on the daily chart with minor upper shadow.

Sensex declined 456.10 points, or 0.62%, to close at 72,943.68, while the Nifty 50 dropped 124.60 points, or 0.56%, to settle at 22,147.90. The Indian stock market was closed on Wednesday on account of Ram Navami. “Investors are fearing that the ongoing conflict could fuel buoyancy in crude oil prices and in turn weigh on inflation.

chips, is poised to get more than $6 billion in grants from the Commerce Department to help pay for domestic factory projects, part of an effort to bring semiconductor production back to American soil. The award, which isn’t yet finalized, could be announced as soon as next week, according to people familiar with the matter. It’s not clear whether the company also plans to accept loans available through the 2022 Chips and Science Act in addition to the direct grant funding.

analysts. These stocks are expected to return between 19% and 35% as per analysts’ price targets. HDFC Life Insurance

Binance, the world’s largest cryptocurrency exchange that was banned by the government in January, is poised to return to India by paying a penalty of about $2 million, people aware of the developments told ET. The crypto exchange will come back as an entity registered with the Financial Intelligence Unit (FIU) of the finance ministry, they added. FIU is tasked with oversight of trade in virtual digital assets (VDA). Binance will comply with all applicable laws, including the Prevention of Money Laundering Act (PMLA) as well as the VDA taxation framework, “which it had been sloppily flouting until now”, said one person cited above.

NBA has banned Toronto Raptors' Jontay Porter on Wednesday for violating gambling rules of United States, according to reports. The league mentioned in a report that Porter disclosed «confidential data to sports bettors, excluded his self participation in one or more games for betting purposes, and betting on NBA games.»

Ford is recalling more than 456,000 Bronco Sport and Maverick vehicles due to a battery detection issue that can result in loss of drive power

Union Pacific dramatically reduced its use of temporary limits on some businesses’ shipments over the past year after its customers complained

Japan recorded a trade deficit for the third straight fiscal year as the costs of energy and other imports rose and the yen remained weak

Amazon wants other businesses to know it’s not giving up on its Just Walk Out technology

Pennsylvania utility regulators must turn over inspection records to the National Transportation Safety Board as part of the federal investigation into a fatal explosion at a chocolate factory

Disney has received a key approval to expand its theme park offerings in California as it seeks to build new, immersive lands for visitors

A new study from Vanguard Charitable has shown that philanthropic investors using donor-advised funds for both planned and responsive giving are significantly increasing their contributions.

Thermax is expecting big projects to be back in the steel, refining and petrochemicals and power sectors. Managing director and chief executive Ashish Bhandari told ET's Kalpana Pathak in an interview that he is optimistic about the power sector with the government talking about large power plants. Edited excerpts: What is Thermax's capex plan for this fiscal? How do you see the order book? We don't disclose capex numbers. Regarding the order book, I expect this year to be one of the most exciting. Energy transition, industrial growth across multiple sectors and urbanisation — all three of these levers are, in my view, tailwinds for business. All of last year, we didn't have any big project announcements, but as I look at this year, I expect big projects to be back in play, be it in steel, refining and petrochemicals, or power. I'm quite optimistic about power, with the government talking about large power plants again, and they are moving at a very fast pace. That is a portion of the market which I wasn't expecting to evolve, and certainly not at this pace… Also, in our standard products where we do a small range of boilers, steam equipment, water, clean air solutions, industrial cooling solutions, we continue to see good growth. We also expect exports to be better. Our exports haven't done well for a couple of years as our India business grew a lot faster than exports.

Indiabulls Housing Finance has sought a review of the Supreme Court's February order that allegedly gave wide powers to the Enforcement Directorate to even investigate cases where there exists no scheduled offence under the Prevention of Money Laundering Act (PMLA). A bench led by Justice Surya Kant asked the company to share a copy of its review petition with the Attorney General. Indiabulls in its review petition stated that the apex court on February 12 while disposing of the criminal appeals had «mistakenly enlarged the scope of the powers of the ED beyond the permissible mandate of the PMLA law, and that it is also in conflict with the well settled law in the Vijay Madanlal Choudhary vs Un-ion of India case.»

Foreign Exchange Management (Non-Debt Instruments) Rules. The new rules, based on the Cabinet decision in February on the relaxed FDI caps, came into effect from April 16, according to a gazette notification by the ministry. The rules, coming just days ahead of Tesla chief Elon Musk's India visit, are aimed at drawing a larger number of foreign investors into the Indian space sector. Musk is reportedly planning to announce investments of $2-3 billion, mainly in the EV segment, and meet Indian space players as well during his India visit starting April 21. As per the new rules, up to 100% FDI is allowed in the space sector. However, up to 74% FDI is permitted under the automatic route in satellite manufacturing and operation, satellite data products and ground and user segment. Beyond 74%, FDI in these activities requires government approval.

David Dodge, former deputy finance minister and governor of the Bank of Canada, said before the 2024 federal budget was presented that it would “likely be one of the worst in decades.” He wasn’t wrong. The budget Finance Minister Chrystia Freeland delivered Tuesday fails to address the biggest problem currently facing Canada — our declining standard of living.