Wellness Financial News

Multibagger stock: Money magnet Charlie Munger once said that big money is not in the buying or selling, but in the waiting. This holds well when it comes to penny stock investment because investing in a stock means investing in a business, irrespective of its size. If a company is equipped enough to grow at a faster rate, then one should not look at the size of its business.

By Mike Dolan

Abhay Bhutada, MD, Poonawalla Fincorp, says “in the last eight quarters, there is a consistent performance in terms of disbursement as well as AUM growth. The most important thing here is that the base is very low. It is easy to achieve this number. And we have given a guidance of 35-40%. Considering the current base, I think in the future, we will stick to our guidance of 35-40%. The focus will be on to achieve the asset quality, maintaining superior profitability and at the same time maintain this 35 to 40% AUM growth. The one thing that struck the most was your highest ever quarterly disbursement figure, highest ever profit, lowest NPA and GNPAs. Before getting into details, what were the drivers for this kind of growth especially at a time when some are saying that the environment is showing some slowdown in the lending space? Abhay Bhutada: See, this is the outcome of efforts of the last 2.5 years. Post-acquisition, we have clearly articulated our strategy. Our chosen segment is pre-owned car, loan against property, personal loan, business loan, supply chain finance, machinery loan, medical equipment loan, consumer finance. The segment which we are targeting is a very different kind of segment. It is a combination of FinTech, bank, and NBFC.

By Summer Zhen and Samuel Shen

On Jan. 5, a few hundred linguists gathered in a ballroom in midtown Manhattan to mull various nominations for the American Dialect Society’s 2023 Word of the Year. As chair of the society’s new words committee, I oversaw the lively colloquy, which attracted many members of the group and the larger Linguistic Society of America.

Republic Day on January 26th, heightened security measures will lead to airspace restrictions in the national capital for a total of 11 days this month, encompassing both Republic Day preparations and celebrations. As per officials, the airspace curbs are scheduled from January 19 to 25, along with additional restrictions on January 26 and 29.

made-in-India chip will be out by December, Union Minister Ashwini Vaishnaw said here, crediting Prime Minister Narendra Modi for developing a very strong semiconductor industry in the country in a short span of time with focus on the entire ecosystem. Speaking to PTI at the World Economic Forum Annual Meeting 2024, the minister said PM Modi launched a semiconductor policy in January 2022, adding that when he met senior representatives of the industry here, the one thing they all were surprised about was how this much work could be done in such a short time. «They all appreciated the policy and the fact that PM Modi has always stressed on creating a comprehensive ecosystem because not many countries have this kind of policy and therefore they could not get such success,» he said. The Minister for Communications as well as Electronics and Information Technology said the prime minister has always focussed on developing an ecosystem where there is a lot of focus on talent. «MoUs (Memoranda of Understanding) with 104 universities are already in place, their course curriculum are being revised, there is a lot of focus on design with a separate investment scheme. »Many design companies have got the benefit and they are gradually coming up in the value chain.

Zee Entertainment Enterprises Ltd. slipped 3.8 per cent to Rs 238.7 in Friday's trade as of 02:10PM (IST). It hit a high of Rs 252.95 and low of Rs 233.15 during the session.

Stock market update: The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) are going to conduct the special live trading session in the equity F&O segment on 20th January 2024 i.e. on Saturday next week. The BSE and NSE aim to switch to the DR site through this special live session.

Rahul Jain, President and Head of Nuvama Wealth believes that reviving the rural economy, which has slowed down due to deficient monsoon, will be the government's focus in the Interim Budget 2024. He also expects more sectors to fall in the ambit of PLI. In an interview with Mint, Jain also shared his views on markets and the sectors he is positive about.

Tiger Logistics (India) on Friday said it has signed an agreement with Bagladesh-based Sikder Group to establish a Joint Venture (JV) for global trade. Sikder Group handles the development and operations of the Mongla Economic Zone at Mongla Port, which is the second-largest seaport in Bangladesh, Tiger Logistics (India) said in an exchange filing.

Suzuki Motorcycle India Pvt Ltd on Friday said it has partnered with SMFG India Credit Co Ltd (formerly Fullerton India Credit Co) to provide financing on purchase of its two-wheelers. The two companies have entered into an MoU for the same, Suzuki Motorcycle India Pvt Ltd (SMIPL) said in a statement.

Campbell Wilson, CEO, Air India, says “this is the beginning of a new fleet, new on-board products, new entertainment systems. This is the first A350; but as we get the other six and then start refitting all of our existing wide-body aircraft, people will see it more frequently.” On Air India getting the first A350 in its fleet Campbell Wilson: Well this reveal of the new Air India is a fresh start. This is our first A350, Airbus’s most modern jetliner. It is Air India’s first new aircraft with the new liveries, the new interiors, the new colour scheme and new amenities, new inflight entertainment system and it signals the next phase of their transformation.

UIDAI issued a notification to amend the Aadhaar (Enrolment and Update) Rules. The UIDAI has released new forms for the resident individuals and non-resident individuals (NRIs) for Aadhaar enrolment or updation purposes. Here is everything you need to know According to the new rules, an Aadhaar card holder can now update information via online or offline mode.

Reliance Industries is scheduled to release its December quarter earnings after market hours on Friday. In the run-up to the earnings, some bit of caution in the market is set to prevail, as investors wouldn’t want to keep open positions ahead of the weekend. So far in January, shares of the index major have gained nearly 6%. The earnings and the outlook that RIL will offer will decide the sustainability of the gains in the counter. Let’s look at the major things to watch out for in the earnings scorecard of the toy-to-telecom conglomerate.

Republic Day on January 26th, the Delhi Metro Rail Corporation said in a statement on Thursday. This might result in long queues at some Metro stations, especially during peak hours during this period," the statement added. «Therefore, passengers are advised to plan their journey accordingly and allow for some additional time for their commute during these days. Passengers are requested to cooperate with the security personnel during security checks,» it further stated. Meanwhile, airspace restrictions will be in place in the national capital for 11 days this month given Republic Day preparations and celebrations. There will be airspace curbs from January 19 to 25 as well as on January 26 and 29. As per officials, landing or take-off of non-scheduled flights of scheduled airlines, and chartered flights will not be permitted from 10 am to 1.15 pm during the January 19-25 period. During this period, scheduled flights will not be impacted.

non-scheduled flights of scheduled airlines, and chartered flights will not be permitted from 10 am to 1.15 pm during the January 19-25 period, PTI reported. According to the NOTAM issued by the Airports Authority of India (AAI), these restrictions will be in force from 6 am to 9 pm during the period from January 26 to 29. A NOTAM (Notice to Airmen) is a notice with information that is essential to personnel involved in flight operations.

Ram Temple in Ayodhya, scheduled for January 22, has prompted several states or central governments to declare it a public holiday or half day in honor of this significant Hindu event. The Department of Personnel and Training on Thursday announced that all central government offices will be closed for half day on January 22 on the occasion of the Pran Pratishta ceremony of Ram Lalla idol at Ayodhya Ram Temple.

By Nupur Anand

ICICI Securities spilled over at the company’s post-earnings meet on Tuesday, as analysts and shareholders challenged its rationale and questioned the swap ratio. The investors are upset over the proposal to turn ICICI Securities into a wholly owned subsidiary of parent ICICI Bank, and made plain their disgruntlement for the first time in a public forum. They believe the company is better off listed and are unhappy with the share swap ratio proposed.

Investing.com-- Japanese consumer inflation eased as expected in December, furthering bets that the Bank of Japan will keep its ultra-dovish policy largely unchanged when it meets in the coming week.