Wellness Financial News

As the festival of Holi draws near, the atmosphere is full of anticipation, joy, and excitement. The colourful environment around us brings back fond memories of picking a favourite colour and smearing it on our loved ones; or of happy colourful ‘barely’ recognizable faces digging into some festive sweets or smiling up to a camera.

In recent years, India has risen to a position where it boasts the world's largest overseas diaspora, comprising approximately 32 million NRIs and OCIs. Among the diverse Indian NRI community, the Gulf countries remain the most concentrated, followed by countries like Singapore, the US, Canada, and the UK. As a significant number of NRIs move abroad in pursuit of better job opportunities and education, it's crucial to understand that they are taxed in India based on income generated within the country.

Amid a fierce competition between bears and the bulls, selling is being witnessed at higher levels, Aamar Deo Singh, Senior Vice President-Equity, Commodity & Currency atAngel One said. Given that the current trading week is truncated, investors are expected to be cautious as markets are trading at record highs, influenced by news flows and global sentiments, he added. Nifty closed with gains of 0.33% on a weekly basis thanks to Fed's dovish commentary. There were no major domestic triggers that could have supported the market. What do you expect in the holiday-shortened week? Aamar Deo Singh: Amidst the global investor sentiment that has been positive since the US Federal Reserve took an accommodating approach towards interest rate cuts in 2024, markets managed to recover last week and close in the green. Since the majority of international markets are still on the rise, the ripple effect can also be seen in home markets.

Cochin Shipyard's stock value has surged significantly. Trendlyne data indicates that in a single year, the share price of Cochin Shipyard increased by almost 298% from the last trading price of ₹902.45. Cochin Shipyard's chief business is building new ships as well as repairing and refitting old ones.

Karan Taurani, Senior VP, Elara Securities, says “the T20 World Cup is in the month of June and we have IPL as well. So, on a QoQ basis, we will see that delta for Zomato. As far as QSR companies are concerned, there is not much of a big respite because the market is getting fragmented, the QSR companies are seeing pressure in terms of growth and in terms of delivery contribution, only 30-40% percent of their revenues comes from delivery. I think it is a bigger delta for Zomato versus the other QSR companies.” Given that it is increasing every year, what is the valuation story you see for IPL? Where do we see it headed because it has become so expensive now? Karan Taurani: I think valuations depend on revenue potential and revenue potential has multiplied for the franchise teams. Plus, the number of teams has also gone up. We had about eight teams, now we have ten. The number of matches has gone up by 20%. I am saying the reasons for valuations growing are these reasons as well.

IPL 2024: Mumbai Indians (MI) failed to chase the score set by Gujarat Titans (GT) in their first match. After the end of the match, former captain Rohit Sharma and present skipper Hardik Pandya were seen getting into a discussion. Rohit did not look happy while speaking with Hardik.

Edited excerpts: I would interpret this as each regulator doing what they are doing in terms of good housekeeping and making sure that rules are followed. Making sure that disclosures are adequate, and processes are in place. I don't know if there is a master plan which is suddenly combining everything together, but I would say each of the regulators in their domain is doing things.

Tata Motors, as well as luxury carmakers like Mercedes-Benz and Audi, are all gearing up to roll out an array of EV models over the next few years. Mahindra & Mahindra, for instance, is set to introduce five new battery electric vehicles starting from January 2025, built on its innovative INGLO platform. Nalinikanth Gollagunta, CEO of the Automotive Sector at Mahindra & Mahindra, highlighted the company's strategy to capture a significant portion of the electric vehicle market, aiming for 20-30 percent of its portfolio to be electric by 2027.

At least 133 people were killed and scores injured in a terror attack in Moscow late on Friday. Four men opened fire indiscriminately in a concert hall, setting a part of it on fire.

Pinarayi Vijayan on Sunday said the electoral bonds scam is the biggest corruption ever witnessed in India and added the BJP government at the Centre arrested his Delhi counterpart Arvind Kejriwal to divert attention from the same. Addressing the third consecutive rally organised here by the CPI(M) against the contentious Citizenship (Amendment) Act (CAA), Vijayan alleged the BJP-led Central government and the Sangh Parivar give scant regard to the rule of the law in the country. He alleged that the Sangh Parivar was trying to take control of the Constitutional institutions and even threatening the country's judiciary. «The Union government, BJP, Sangh Parivar, they all very well know that the Supreme Court order on the electoral bond scam was harmful to them. They wanted to divert the attention from this topic and for that they have arrested Delhi CM Arvind Kejriwal,» Vijayan said.

Based on initial test outcomes, some funds have seemingly come out with flying colours. These funds will be able to offload a quarter or even half of their holdings within a matter of 2-3 days, if the need arises. On the other hand, there are a few surprises. For instance, the SBI Small Cap Fund may take up to 60 days to offload half of its portfolio when under stress (see graphic). These outliers are being perceived as risky. Are investors drawing the right conclusions? Are some funds illprepared for a doomsday scenario? Should you buy or exit a fund based on these test results? We attempt to filter out the noise around the much-hyped stress tests to find out whether investors need to be worried. Fund size matters

₹1-trillion corpus for financing private sector research and innovation in sunrise sectors. The government’s scheme for attracting investments into manufacturing through production-linked incentives, too, covers sectors like electronics, pharmaceuticals, telecom, medical devices and drones. The measures being worked on broadly follow the NDA government’s approach of undertaking reforms that help the overall economy and strengthen the exchequer for social transfers rather than offering upfront tax cuts or subsidies.

NPCI Bharat Billpay (NBBL), banks and fintech firms are in talks to implement banking interoperability, following central bank approval for the project, said two senior bankers with knowledge of the matter. NBBL could start work on the pipelines to enable such transactions in April, they said. “Currently, conversations are happening with the large participants in the net banking ecosystem to find the right implementation strategy,” one of the bankers said. “The top banks like HDFC Bank, SBI, ICICI Bank are the largest players in this space.”

credit card spends in the liberalised remittance scheme (LRS) by April 1 — a plan that has been kept in abeyance for a year. Under the belief that reissuing the specific notification may not go against the model code of conduct, many banks are preparing to integrate their systems with RBI’s for capturing the card spend information of individual customers during personal foreign tours. NBBL is a subsidiary of National Payments Corp. of India (NPCI). As part of its 2025 vision document, the RBI wants all payment rails under a centralised payment system. Internet banking is the only one outside the umbrella and the regulator wants this within the fold quickly, putting it on a par with processes such as the Immediate Payment Service (run by NPCI) as well as the Real Time Gross Settlement and National Electronic Fund Transfer systems (run by the RBI).

Sydney Sweeney, renowned for her roles in hit television series such as «Euphoria» and «The White Lotus,» as well as her upcoming portrayal in Sony's «Madame Web,» takes center stage once again in the spine-chilling horror film "Immaculate." Not only does Sweeney grace the screen as the protagonist, Sister Cecelia, but she also takes on the role of producer, further solidifying her multifaceted talent in the entertainment industry.

Election Commission of India is learnt to be mulling over ways to address the concerns raised by INDIA bloc parties over «erosion of level playing field» due to the alleged «blatant and audacious misuse» of central agencies by the BJP-led government. ECI could soon issue an advisory on the matter. Assessments within ECI indicate that legal and constitutional readings do not give much latitude to the panel in terms of specific actions, ET has gathered. However, it is also alive to INDIA bloc's concerns and the panel's own mandate and role in ensuring level playing field. ECI may issue either a strong advisory to the Centre or a specific communication to agencies concerned. ET gathers that the panel is considering a draft to the effect.

warmest winter on record, with the unusual warmth concentrated around the Atlantic Basin, which has produced an enormous surplus of gas and slump in prices since October. Surface temperatures on land were +2.65°C above the 20th century average between December and February, according to data compiled by the U.S. National Oceanic and Atmospheric Administration (NOAA). Record warmth in the winter of 2023/24 beat previous highs of +2.44°C in 2019/2020 and +2.61°C in 2015/16 — also winters characterised by surplus inventories and slump in gas prices.

ONGC) is planning to drill a well in Bihar this year to look for oil and gas. A commercial discovery will not just put the state on India's oil map but also open up for exploration the entire Ganga basin stretching from Bihar to Uttar Pradesh and Punjab. Sushma Rawat, director (exploration) at ONGC, told ET that the company has acquired 3D seismic data for 300 sq km for its block in Samastipur, Bihar, and is now planning to drill two exploratory wells. The first drilling will be done this year and may cost ₹30-35 crore, she said. Data from the first well's drilling will help guide the company's plans for the rest of the exploration block, including the planned drilling of the second well.

Candidly, a provider of AI-enhanced student debt and savings optimization, has formed a strategic alliance with intellicents, a comprehensive financial services provider, aiming to alleviate the student loan burden for American workers.

MahaRERA) has proposed that every real estate project needs to maintain three bank accounts in the same scheduled bank to ensure compliance, efficiency, transparency, accountability, and appropriate utilisation. It has proposed a 'collection account', a 'separate account' and a 'transaction account'. The collection account will receive all payments from the allottees and account for other charges excluding taxes and statutory duties.

military said it hit two large Russian landing ships in attacks on the annexed Crimean peninsula early on Sunday, as well as a communications centre and other infrastructure used by the Russian navy in the Black Sea. The statement did not say how it hit the targets, but a Moscow-installed official in the region reported a major Ukrainian air attack and said air defences had shot down more than 10 missiles over the Crimean port of Sevastopol. «The defence forces of Ukraine successfully hit the Azov and Yamal large landing ships, a communications centre and also several infrastructure facilities of the Russian Black Sea Fleet in temporarily occupied Crimea,» Ukraine's military said.