Wellness Financial News

Investing.com — Here is your Pro Recap of the top takeaways from Wall Street analysts for the past week: upgrades for PepsiCo, Riot Platforms and Kingsoft Cloud; downgrade for Nuscale Power .

slowdown among Chinese shoppers have dogged the luxury industry for the better part of a year. Last week the scale of the problem hit home for one of fashion’s biggest but most exposed brands, Gucci. French group Kering SA saw $9 billion wiped off its market value after warning that sales of the Italian label’s products in China have slumped this quarter. The slowdown is also starting to show up in other corners of the luxury industry.

Public sector banks (PSBs) are likely to pay a dividend in excess of Rs 15,000 crore for the financial year ending March 2024 on the back of improved profitability, according to sources. In the first three quarters of the current financial year, all 12 PSBs earned a total profit of Rs 98,000 crore, only Rs 7,000 crore less than the entire FY23. PSBs earned the highest-ever aggregate net profit of Rs 1.05 lakh crore during FY23 compared to Rs 66,539.98 crore earned in 2021-22. As a result, the government earned a dividend of Rs 13,804 crore, 58 per cent higher than the Rs 8,718 crore paid out in the previous financial year.

GT vs MI 2024: All-rounder Hardik Pandya is ready to lead Mumbai Indians in the IPL 2024 first match against his previous franchise Gujarat Titans (GT). India's young batter Shubman Gill is leading GT after Hardik Pandya switched back to MI and was appointed as the captain of the team. Much is said about Hardik Pandya replacing Rohit Sharma and ahead of the GT vs MI 2024 clash, MI's star batter Tilak Varma outlined the importance of both players for Mumbai.

Two months after Elon Musk acquired Twitter, the billionaire hopped on a video call with a handful of creators, seeking advice about how to make his platform better for them and asking how YouTube attracts creators. Podcaster Samir Chaudry told Musk that YouTube had a well-established system for creators to make money through advertising revenue. More than a year after meeting with Musk, Chaudry says X’s strategy for creators still isn’t clear.

IIFL Finance Ltd and JM Financial Products Ltd (JMFPL) as it has initiated the process for appointment of auditors. The central bank has floated two separate tenders for appointment of auditors for special audits of the two non-banking finance companies (NBFCs).

Congress leader Priyanka Gandhi Vadra on Sunday hit out at the BJP over the electoral bond scheme, saying never in the history of the country did any government gave legal validity to corruption. In a post on X, Priyanka alleged that 38 corporate groups donated Rs 2,004 crore to BJP through electoral bonds. «In return, they got contracts/projects worth Rs 3.8 lakh crore from BJP's central and state governments. ED, CBI, and IT raided 41 corporate groups. To avoid this, these groups donated Rs 2,592 crore to BJP. 16 shell companies donated Rs 419 crore to BJP. These also include companies which donated several times their total capital,» Priyanka said.

IIFL Finance Ltd and JM Financial Products Ltd (JMFPL) will undergo a special audit to further probe their regulatory breaches, as the Reserve Bank has initiated the process for the appointment of auditors. The Reserve Bank has floated two separate tenders for the appointment of auditors for special audits of these two non-banking finance companies. Audit firms empanelled by the Securities and Exchange Board of India (Sebi) for forensic audit can participate in the tendering process, and the last date for submission of bids is April 8, as per the tender document published by the Reserve Bank of India. The selected firms will be awarded work on April 12, 2024, as per the bid documents.

India has «incredibly affordable» airfares and the country's aviation market has the kind of growth potential where Akasa Air as well as other carriers can do well, according to the nearly two-year-old airline's chief Vinay Dube. As Akasa Air prepares to take the international skies on March 28 with the first overseas flight from Mumbai to Doha, Dube also asserted that the airline is not about «marketing gimmicks». Akasa Air is aiming to be among the world's top 30 airlines by 2030 and will go public in future. «We think we have a great financial future. Listing is in our future… but you never say never. We hope to list some day,» he told PTI in an interview this week. While acknowledging that aviation competition has always been intense, he said that as long as the focus is on fundamentals, there is enough room not just for Akasa Air to thrive in the future but for others as well.

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Couples therapy—the venue for the messy job of tackling the disillusionment, betrayals, moribund sex lives and other issues that pop up between partners—has a new variant. Called “high-impact therapy," it is rapidly gaining fans among those who’ve tried it. Chris and Erin van der Velde took the plunge when they signed up for therapy with Ellyn Bader, a psychologist in Menlo Park, Calif.

Aditya Vision, Crisil, HUDCO, REC, and SBI Card will trade ex-dividend, while Persistent Systems will trade ex-split this week. On Thursday, 28 March, Aditya Vision (Rs 5.1/share), Crisil (Rs 28/share), HUDCO (Rs 1.5/share), Prithvi Exchange (Rs 2/share), R Systems International (Rs 6/share), REC (Rs 4.5/share), SBI Cards and Payment Services (Rs 2.5/share), Standard Industries (Rs 0.5/share), and Thinkink Picturez (Rs 0.1/share) will trade ex-dividend.

Hyderabad Police in connection with the case of phone tapping and destroying certain computer systems and official data. During investigation, Additional DCP Thirupathanna and Additional Superintendent of Police N Bhujanga Rao, were arrested, an official release from Hyderabad police late on Saturday night said. The two police officials had earlier worked as Additional Superintendents of Police in the Special Intelligence Bureau (SIB) and Intelligence Department, respectively. They were accused of colluding with suspended DSP of the SIB, D Praneeth Rao, who was earlier arrested by Hyderabad police for allegedly erasing the intelligence information from various electronic gadgets as well as for alleged phone tapping during the previous BRS regime. «During the questioning, the two police officials have confessed about their involvement in the reported crimes including conspiracy to monitor private persons illegally by developing their profiles abusing their official positions; to cause disappearance of evidence by destroying the public property to conceal their involvement in collusion with the already arrested D Praneeth Kumar alias Praneeth Rao, DSP (under suspension) and some other persons», the release said. Further investigation is under progress, they said.

Harshvardhan Roongta, CFP, Roongta Securities, says “do not invest in any product to save tax. It is not about insurance or any other investment product. You have to look at the merit of that product. You should ask yourself a question any time that you are going to be looking at investing; would you invest in this product if there were no tax benefits available? If the answer is no, then do not invest in it only to save taxes.” March 31 deadline is almost around the corner and a time when people look at a lot of tax saving instruments. It is usually an insurance policy in most of the cases and this is the time when we see a lot of mis-selling cases rising as far as insurance policies are concerned. A right way to look at insurance should be as an instrument against risk protection. But when it comes to saving taxes, you have a lot of options in insurance. How can one go about it? Harshvardhan Roongta: Yes, we are at the fag-end of the financial year and at this point in time, all the individuals or rather most of them will be running around to save taxes because they have deadlines to finish with their investments to save tax.

Saurabh Gupta, Group CFO, Dixon Technologies, says “there’s a $10 billion opportunity in IT hardware for India. $10 billion worth of IT hardware products are imported into India. So, it is a large opportunity for import substitution and if India is able to do a good job as an industry, if you are able to generate that operating leverage and cost competitiveness, in a few years, yes, it can potentially get exported from India as well.” Gupta also is confident that achieving a growth rate of 35-40% annually should not be a challenge over next few years. On EMS, India’s position & Dixon’s share Saurabh Gupta: If you look at the whole electronic manufacturing space, India's share in the global electronic space is just 2%. But if you look at the whole government policy framework, as far as the labour pool availability and labour cost in India is concerned, we are looking at a very significant growth potential in this particular sector. The reason is increasingly, brands want to outsource more and more manufacturing and not only manufacturing, they want to deepen the level of manufacturing and in our sense, it will be more design-led manufacturing for us and also, the government policy framework has been very supportive.

Dharmesh Shah, Head-Technical, ICICI Direct, says “any correction in the PSUs from the current level should not be constructed as negative, but should be looked upon as a buying opportunity because we believe most of the negative news seems to be getting priced in there. Any dip from the current level is a buying opportunity. So, stocks like HAL or BEL, Bharat Electronics in the defence space and also Cochin Shipyard, one should definitely consider at the current levels.” Do you expect the Nifty momentum that we have been seeing on Thursday and Friday to sustain for the benchmark? Dharmesh Shah: Yes, definitely, I think so. If you see the recovery push after the Fed event, the sentiment seems to be slightly bullish. I would not say major bullish, but yes, it seems to be getting better and better going forward. We believe a target of 22,400 for the Nifty in the coming week. At the same time, we see 21,700 remaining as a strong support in the current trading session.

ALSO READ: Princess of Wales spotted shopping with husband amid 'KateGate' row, netizens say 'that woman is not Kate Middleton...' In his cryptic verses written centuries ago, Nostradamus predicted the potential "abdication" of a king and the rise of an unexpected successor. The similar situation now seems to unwind in the UK's monarchical authority, involving King Charles and Prince Harry.

By Dawn Chmielewski

Delhi Capitals got off to a good start thanks to the opening pair of Mitchell Marsh and David Warner. However, DC couldn't get the momentum going in their favour as wickets fell at regular intervals and although Shai Hope (33) and Rishabh Pant (18) made some notable contributions, their innings was too short-lived to make a significant impact. With wickets falling at regular intervals, DC looked set to fall well short of the 150-run mark, losing 7 wickets for 130 odd runs.

Here's what Jaishankar said | Top 5 points Jaishankar said Pakistan is sponsoring terrorism at almost an "industry level". asked, "How do you deal with a neighbour who does not hide the fact that they use terrorism as an instrument of statecraft?" "It's not a one-off happening...but very sustained, almost at an industry level...So what we have come to conclude is that we have to find a way of addressing (the menace)," he said, adding that dodging the problem "gets us nowhere, it only invites more trouble." He said he doesn't have a "quick instantaneous fix (to this issue)". He, however, said India will not skirt this problem anymore.

Election Commission of India has warned CPI candidate in Thrissur Lok Sabha constituency, V S Sunil Kumar against using a photograph of his with leading Malayalam actor Tovino Thomas for the poll campaign. The EC warning came days after Kumar had triggered a row by posting his picture with actor Thomas, who is an ambassador for the Election Commission's Systematic Voter's Education and Electoral Participation programme (SVEEP), on social media. The actor had himself posted on social media, saying he was an ambassador for SVEEP and that it was against law to use his photograph for election campaign. Seizing the opportunity, the BJP-led NDA early this week filed a complaint with the district Collector, who is also the returning officer for the Thrissur Lok Sabha constituency, against the Left candidate for allegedly violating the poll code.