Wellness Financial News

The US 10-year Treasury yield continues to trade well above a ‘fair value’ estimate, based on the average of three models maintained by CapitalSpectator.com.

Lohum has raised Rs 450 crore ($54 million) in a primary funding round. Mumbai-based Singularity Growth Fund, which counts CaratLane founder Mithun Sacheti among its backers, led the round in which investors like Baring Private Equity, Cactus Venture Partners and Venture East also participated.

internet firms Zomato, Swiggy, Flipkart and Oyo have opposed the new regulations on digital competition proposed by a government-appointed committee to pre-emptively regulate abuse of antitrust laws. In a report submitted late Tuesday, the committee proposed a new digital competition law with an «ex-ante» framework to address potential abuse of dominance involving big tech companies. Prior to submitting the report, the Committee on Digital Competition Law had sought stakeholder comments.

Uday Kotak on Wednesday said Indian markets are not in a bubble. There may be some «early froth», and it may be a «little bubbly» but the markets are not out of control, Kotak said, speaking in the presence of top officials from Sebi in a conference organised by the capital markets watchdog. The statement from Kotak, the founder and non-executive director of private sector lender Kotak Mahindra Bank, comes two days after Sebi chairperson Madhabi Puri Buch had said that there are pockets of froth in the small and mid-cap stocks and the regulator is looking into the same to come out with a possible consultation paper.

Visa application volumes from Mumbai in 2023 registered a 30 per cent year-on-year growth, according to a report by VFS Global, closing in further to the pre-pandemic levels. When compared to the pre-pandemic numbers, visa application volumes from Mumbai reached 90 per cent of the 2019 levels. The demand pattern in Mumbai was in line with the overall growth trend registered in India, which saw a 16 per cent year-on-year in visa applications in 2023. In comparison to the pre-pandemic numbers, visa application volumes from India reached 93 per cent of the 2019 levels.

MLA Manoranjan Talukdar will contest from the Barpeta Lok Sabha seat, for which the grand old party has announced its candidate. Addressing a press conference here, CPI(M) Assam State Secretary Suprakash Talukdar said the party has decided to field its veteran leader and legislator Talukdar from the Barpeta seat. The MLA currently represents the Sorbhog assembly constituency, which falls under the Barpeta Lok Sabha seat. «For the greater interest of the people, we appeal to Congress to withdraw its candidate from Barpeta. We appeal to everyone to vote for the strongest anti-BJP candidate and make him win», the CPI(M) state secretary said.

Super Micro Computer (NASDAQ:SMCI) stock extended gains after Bank of America analysts hiked the price target by $240 to $1280 per share. They believe the company remains well positioned in a growing artificial intelligence (AI) server market. SMCI stock is up over 300% year-to-date and more than 1150% over the last 52 weeks.

Investing.com-- Markets will be watching to see whether major U.S. technology stocks can continue to help Wall Street rise past growing concerns over higher-for-longer interest rates, following upbeat consumer price index inflation data. Gold prices fell from record highs after the reading, with more U.S. inflation cues also on tap later this week. 

Tesla (NASDAQ:TSLA) stock fell 1.5% in early New York trading Wednesday after Wells Fargo downgraded the rating to Underweight (equivalent to sell) from Equal Weight. Analysts called Tesla “a growth company with no growth.”

Also Read: Demat Account: What are the tax implications of transactions? Now, when it comes to applying for an IPO, there are a few ways to do it, but the most popular way is through a demat account, primarily using the UPI method. This account is mandatory if one wishes to apply for an IPO, and it is also the simplest and least complicated method. So, a majority of retail investors choose to go this way when they're looking to invest in an IPO.

₹48 lakh and long-term capital gains of ₹6 lakh had been booked in December 2022. At a 10 % long-term capital gain tax, with ₹1 lakh exemption, my client was happy that the extra tax liability was only ₹50,000. To his surprise, his chartered accountant asked him to deposit ₹1.65 lakh extra in taxes.

Crypto mining firm Core Scientific has announced a decline in year-on-year revenues in its Q4 2023 results, accompanied by a substantial reduction in net losses. 

Sandeep Raina, executive vice president — research, Nuvama Professional Clients Group, says he is not worried much about the market crash on Wednesday. A lot of people have made a lot of money in the market and something which has gone from one to five is back to four or maybe three-and-a-half. It is not something to be worried about because one, a lot of participants had already expected these kinds of things to happen. Raina says: “I am not worried. Is it the bottom? I do not know frankly. Can there be further small cuts in the market? Possibly yes. But is it a case of there is nothing but a bloodbath going forward and we should sell the equities? Not at all. Just stay calm, stay invested. The market will revive very soon. That is broadly my take on the market.”

Axis Bank on Wednesday opposed before the Delhi High Court BJP leader Subramanian Swamy's public interest litigation (PIL) seeking a probe into an alleged fraud committed by the bank to make «undue profits» through sale and purchase of shares in Max Life Insurance. Senior counsel for Axis Bank as well as Max Life told a bench headed by Acting Chief Justice Manmohan that the PIL by the former BJP MP was not maintainable as the issue squarely fell in the realm of a commercial transaction between private entities. Senior advocate Mukul Rohatgi, appearing for Axis Bank and its related companies, argued that the PIL does not state the «class» of individuals for whose benefit it has been filed when the aggrieved shareholders, if any, were capable of coming to court. Senior advocate Neeraj Kishan Kaul, who appeared for Max companies, asserted that the transaction, which was a purely commercial arrangement, has been looked into by the sector regulator.

PARIS (Reuters) -BNP Paribas, the euro zone's largest bank, on Wednesday said it will step up its cost-cutting plan by 400 million euros ($437 million) after reporting weak results for the fourth quarter.

For the new registration, you need to fill the Form 6 on the official website i.e. voters.eci.gov.in while for shifting of residence/correction of entries in the existing card, you need to fill out Form 8. -Visit the official website of voters.eci.gov.in -On ‘New Registrations for General Electors’, click on Fill Form 6.

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By Harry Robertson

A look at the day ahead in European and global markets from Tom Westbrook

Sanjiv Bhasin, Director, IIFL Securities, says “very bullish on Hindustan Copper. We think numbers and the outlook will be very bullish and if China is back, which is evident from the type of government stimulus, then non-ferrous is going to do very well. Hindustan Copper is our top pick there. We are also bullish on HPCL. We like ONGC which is our top pick over there. To sum it up, IRCTC and Concor as well. If you have these five gems, you will create a lot of wealth. ” Bhasin further says they have trimmed exposure in PSU banks and some of the railway stocks.

Investing.com-- Gold prices steadied in Asian trade on Wednesday, but were nursing a tumble from record highs after a strong U.S. inflation reading kept fears of higher-for-longer interest rates in play.