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Motilal Oswal Private Wealth expects large-cap stocks to do better this year, citing valuation comfort. The wealth manager recommends investors increase allocation to equities by investing a lump sum in an equity-oriented hybrid fund in the wake of the recent stock market decline. It also suggests a staggered investment approach in equity schemes over the next six months and accelerate the investments in the event of a sharper drop in the market.

WASHINGTON — JPMorgan Chase & Co.‘s net income soared 50 per cent to more than US$14 billion in the fourth quarter as the bank’s profit and revenue easily beat Wall Street forecasts. Other major banks reported banner earnings for the year as businesses and consumers continued to spend despite elevated interest rates.

Black Hawk helicopters that will be used to help patrol the border.“We have deployed 60 new drones along our border with the United States, and we will be deploying additional surveillance towers. We are acquiring new technology such as x rays, mobile x rays, and handheld chemical analyzers.

Wells Fargo's profit beat expectations in the fourth quarter powered by a rebound in dealmaking activity and forecast it would earn more from interest payments this year. The bank's shares rose 3.5% to $73.68 in premarket trading on Wednesday.

Subscribe to enjoy similar stories. New Delhi: The ministry of heavy industries (MHI) is preparing a concept note to garner support for a scheme to promote domestic manufacturing of battery components, MHI joint secretary Vijay Mittal said. “The ministry is currently developing a concept note aimed at bringing policymakers together to agree on specific schemes that will support the manufacturing of components.

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AAP leader and Uttam Nagar MLA Naresh Balyan in a case lodged under the stringent MCOCA. The judge passed the order after hearing arguments from the accused as well as the prosecution.

electric vehicle maker Euler Motors on Wednesday said it has secured up to USD 20 million in debt from responsAbility Investments AG to ramp up production and distribution networks as well enhance research and development capabilities. The fresh capital infusion comes close on the heels of the company closing its Series C funding round, raising an additional Rs 200 crore from investors including British International Investment, Blume Ventures, and Piramal Alternatives India Access Fund, Euler Motors said in a statement.

«The large private sector banks is one such pack, while there are of course near term headwinds, credit growth has slowed down, there are pockets of asset quality stress, and margins have been under pressure, we believe that the valuations for that largecap banking space specifically the private sector banks is possibly more than capturing in these kind of headwinds,» says Shibani Sircar Kurian, Kotak Mahindra AMC. The correction that we have been seeing recently, the kind of fall that we have seen across indices, be it the largecap, the midcap, smallcap, do you believe that the valuations have corrected enough to make these stocks attractive now? Do you believe the kind of correction we have seen in valuations is significant enough for us to now confidently say that only good days are ahead? Shibani Sircar Kurian: So, when you look at the correction that we have seen recently over the last couple of months, you must put it in context of what has happened in the last four years, especially since post COVID period. Our markets have had a significant uptrend and it has been a one-way move in the market and therefore, in that context, we must look at the last two months of correction and volatility as something that is possible, given that equity markets have seen such a one-way up move.

Inflation in the U.K. unexpectedly fell in December, a move that will likely fuel pressure on the Bank of England to cut interest rates again next month

Sampath Reddy, Founder & CIO, Azurean Investment Managers, says mid and smallcap banks or NBFCs or some of the affordable housing lenders may have the potential for much bigger returns, but the risks are also higher there. Within the overall lending space, he would prefer to stick to the larger private sector banks compared to NBFCs and other lenders. What is your reading of the market? Do you think much of the global and domestic parameters are in the price or could there be some more downticks in the days to come? Sampath Reddy: It is a little difficult to say how the excess valuation that is there in the mid and smallcap segments will be readjusted. Even with the yesterday's fall or last few days' fall, mid and smallcap companies, broader valuations of that segment as such still on the higher side, whether it will be a prolonged time correction or an accelerated growth in earnings, which way it will bring the overall multiples of the mid and smallcap segments is difficult to say but at this point of time with whatever the correction that we have seen so far, largecap segment looks very-very attractive.

Rakesh Rawal, CEO, Anand Rathi Wealth, says expects to deliver the revised guidance that they have given of about Rs 900 plus crore of revenue and Rs 290 crore of profit. Sequentially, the numbers have come largely flattish. What led to this moderation? What is the expectation from Q4 now? Are you expecting a bit of a reversal or a recovery or do you anticipate more of the same? Rakesh Rawal: In our company, what we look for is year to year growth and that is why we have a very good first quarter and then we have flattish other quarters. From a year-to-year growth perspective, we have maintained the 30% plus growth in both revenues as well as in profits. We should be able to deliver the revised guidance that we have given of about Rs 900 plus crore of revenue and Rs 290 crore of profit.

FBI visiting Ben Affleck's home in the Los Angeles area over the weekend were obtained, as quoted in a report by Parade.

The tax deadline for some small businesses affected by severe weather in 2024 is drawing near, the IRS is reminding owners

The move is set to address the growing needs of clients and shareholders and position the firm for the future. Under the new leadership structure, Fitzwilliams and Hankin will share all responsibilities at the helm of the firm, as well as serving on and reporting to the board. Brown Advisory appoints Tessa Pilkington to International Private Client team The pair have worked closely together for the past 15 years, with Hankin having been the sole CEO and president since the firm became private and independent in 1998. Fitzwilliams started with Brown Advisory in 2003 and most rece...

Lowe, who joined Schroders as a fund manager in 2022, will support the UK real estate team in targeting outperformance for clients and capturing market opportunities as well as retaining his existing fund management responsibilities. SJP gives £5.2bn sustainable investment mandate to Schroders The appointment follows the promotion of former head of UK real estate Nick Montgomery to global head of real estate in September. In his new role, Lowe will work closely with Montgomery and Rebecca Gates, head of UK real estate asset management.  Montgomery commented: «As we continue to s...

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Subscribe to enjoy similar stories. New Delhi: The government may accord industry status to waste management and recycling businesses, two people aware of the development said, amid a push for circular economy. This has been a long-standing demand of the waste management sector, as an industry status helps businesses get easier access to cheaper bank loans.

In a stock exchange notice today (14 January), HRI's board said that, having checked with publicly available data sources and press articles, the trust «has materially outperformed» the Saba Capital Master fund. Launched in August 2009, Saba Capital Master is a current shareholder in HRI as well as in six other trusts, which were targeted last month in a letter by the hedge fund calling for general meetings at all seven firms to reconstitute their respective boards of directors. Herald investment trust hits back at Saba over proposed cash exit strategy According to HRI's board res...

‘Barron’s Roundtable’ panelists Alissa Coram, Ben Levisohn and Al Root discuss the top three stories investors should know from the week.

N Jayakumar, MD, Prime Securities, says despite ongoing market challenges, financials are the best investment option for the next rally. Additionally, the dollar-rupee exchange rate will benefit the pharmaceutical sector, particularly generics and exports. The IT sector may also see gains, with some benefits reaching consumers. Moreover, India's manufacturing and Production-Linked Incentive (PLI) initiatives will attract investment alongside financials. For a market where bulls were looking immortal, they are running for cover now. At the beginning of the year, the general narrative was that we are in for a good year. Now everyone is guessing what is coming next. What is your view on what lies ahead for us? N Jayakumar: The way I see this is that complacency had set in in a pretty major way and we saw that the last six months gave virtually no returns. Indices did not fall by more than 8-10% and yet portfolios were down 15% and 20%. Individual stocks were down up to 30-35%. Complacency had settled, people said it is a buy on dips. Now that particular thesis, in a sense, got challenged with this most recent correction. In the last few days, especially the last three-four days, I have seen all around capitulation coming through.