ATTRACTIVE
FII buying in June crosses Rs 15,000 crore. Will IT results attract more inflow?
While domestic investors, led by mutual funds, have been sustained buyers in all months of calendar year 2024 so far, FIIs have alternated between buying and selling.
India Inc. leverages ESG push to gain a competitive edge and attract investments: Jatinder Cheema
India Inc. is embracing ESG principles following government initiatives for long-term sustainability. Advocate Jatinder Cheema highlights the need for companies to adapt to new reporting norms. The Indian government's focus on ESG aligns with global trends and promotes sustainable development. Climate policies impact business regulations, emphasizing the shift towards sustainability and renewable energy sources.
YES Bank’s $5 billion stake said to attract lenders from the Middle East, Japan
First Abu Dhabi Bank is considering bid for Yes Bank stake. The stake sale has also drawn preliminary interest from Japan, including Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc., although it remains unclear how strong their appetite for a deal is and whether they will proceed, the people said.
RBI's decision on LRS enhances attractiveness of GIFT IFSC: Tapan Ray
RBI said it has been decided that "authorised persons" may facilitate remittances for all permissible purposes under LRS to IFSCs for availing financial services or financial products as per the International Financial Services Centres Authority Act, 2019, within IFSCs.
Lava to decouple production arm to boost PLI targets and attract new business
Lava International plans to separate its production arm to attract business from other handset brands and meet the production-linked incentive (PLI) scheme targets for smartphones. Despite struggling to meet PLI targets since the scheme's inception in 2020-21, Lava remains hopeful due to the upcoming component production incentive package. Sanjeev Agarwal, head of manufacturing, noted that increasing production by Rs 500 crore annually is crucial. He attributed the difficulties to starting with a higher base and rival brands' reluctance to partner with manufacturers with their own brand.
Banking funds offer attractive entry levels
Investors are advised to consider banking funds for diversification and potential gains, as the Nifty Financial Services Index shows attractive valuations. Fund managers recommend allocating 5-10% of the portfolio to these funds for long-term benefits.
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More tax savings from NPS in Budget 2024? Expect employer's share to rise to 12%, additional Rs 50,000 NPS deduction in new tax regime
NPS changes in Budget 2024: Currently, the deduction in respect of the employer’s contribution (capped at 10%) to NPS is allowed under both the old tax regime and the new tax regime. The government may consider at increasing this limit to 12% (aligned with the exemption of employer’s PF contribution up to 12%). Another proposal is to introduce the additional deduction of Rs 50,000 under the new tax regime. Will Budget 2024 make NPS and new tax regime more attractive for investors? Read on
Hotel Association of India seeks infrastructure status for hotels ahead of budget
The hospitality industry is advocating for infrastructure status for hotels ahead of the budget, highlighting the importance of access to finance and investment opportunities. With a focus on job creation and industry growth, government officials are considering expanding the harmonized list of infrastructure to support the sector's development. Stay updated for potential updates in the upcoming budget.
Union Bank of India attracts bids for 5 troubles accounts out of 25 put on sale
Union Bank of India received bids from asset reconstruction companies (ARCs) for five of its 25 non-performing asset (NPA) accounts, including Jaypee Healthcare, Saraiwwalaa AGRR Refiners, and RCM Infrastructure. Bids aim to recover 15% to 89% of outstanding loans. The bank will use a Swiss auction process to finalize sales.
UP cabinet passes draft of UP NIRMAN Bill-2024 to attract investors
The Uttar Pradesh government passed the draft of the Uttar Pradesh Nodal Investment Region for Manufacturing (Construction) Area Bill (NIRMAN)-2024 in a bid to boost the state's economy to one trillion dollars. The bill aims to create Special Investment Regions (SIRs) to attract big investors. The decision will promote economic development, ease of doing business, and create new job opportunities. Additionally, the cabinet approved a proposal for a Memorandum of Understanding between ITPO and MSME to encourage industrial investment.
Wait for earnings and Budget to identify attractive sectors for investment: Deepak Shenoy
These companies are quite cyclical, moving between downturns and upturns. Recently, there has been an upturn for Muthoot and Manappuram, partly because IIFL, a major player in the gold financing space, faced some RBI action leading to a slowdown in its gold lending portfolio.
India a very attractive destination for fixed income investors: Vikas Goel
So, obviously, we are still underrepresented. So, compared to, say, a similar economy like Indonesia, etc., we will go from 2.5% to about 4% I think after the inclusion which is fairly-fairly insignificant even if we compare it to our equity markets where foreign investment is much-much higher as a proportion of total investment.
Shopify expands access to its AI-powered features to attract more businesses
Customers can now use its editing tool on their smartphones to enhance images used in promotional materials, including emails, the Canada-based firm said at its biannual products event. The feature was previously restricted to only editing product images online.
India most attractive consumer market across the globe: Fibonacci X report
India is emerging as the most attractive consumer market globally, with consumption trends merging with large cities. The services sector is expected to drive strong economic growth, and India is poised to be a global hotspot for economic growth. Manufacturing growth has remained stagnant, but future growth depends on new policy initiatives.
Ukraine summit attracts world leaders but fails to isolate Russia
U.S. Vice President Kamala Harris, French President Emmanuel Macron and the leaders of Germany, Italy, Britain, Canada and Japan are among those set to attend the June 15-16 meeting at the Swiss mountaintop resort of Buergenstock.
Discover plants that attract snakes to your garden
Snakes are often drawn to gardens for food, shelter, and the right environmental conditions. Certain plants can create an inviting habitat for snakes by attracting their prey, providing cover, or maintaining a moist environment. If you are looking to deter snakes, consider maintaining a tidy garden with short grass, minimal ground cover, and limited mulch piles. Removing food sources and potential hiding spots can also help make your garden less attractive to snakes. Here are five plants that may attract snakes to your garden:
Yuntai: Is China's tallest waterfall fed by pipes? Viral videos expose truth behind popular scenic beauty. Details here
Thousands of visitors visit the scenic Yuntai waterfall, situated in China, and appreciate nature at its full glory. However, a recent video has created a massive controversy around the waterfall being an artificial one.
View: Tackling FTA attractions
India has resumed free trade negotiations with trading partners after withdrawing from the Regional Comprehensive Economic Partnership (RCEP) negotiations in 2019. The process has been restarted with the signing of India-Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA) in March 2021, followed by India-UAE Comprehensive Economic Partnership Agreement (CEPA), India-Australia Economic Cooperation and Trade Agreement (ECTA) in 2022, and India-European Free Trade Association (EFTA) pact in February this year.
Hospitality beyond the usual hotspots
India's hospitality industry is expanding its tourism portfolio, despite limited availability in urban areas. The country's geographical diversity has limited tourism potential, putting strain on existing infrastructure and leaving many areas underserved. The industry is now focusing on newer, riskier locations to meet service quality expectations of a growing number of travelers. The scale of the sector allows for distribution outreach with local government support, easing the financial burden on states.
Quality of life better in Kochi, Thrissur as compared to major Indian cities like Delhi, Mumbai, Bengaluru, and Hyderabad: Oxford Index
In terms of factors such as livability and attractiveness influencing migration patterns, major cities like Mumbai, Delhi, and Bengaluru have scored lower than Kochi and Thrissur, according to the Oxford Economics Global Cities Index. The Quality of Life category evaluates indicators measuring the advantages of residing in each city and residents' well-being, encompassing financial and health outcomes, as well as access to amenities. Mumbai, the financial capital of India, ranked 915, while the national capital, Delhi, secured the 838th position. Bengaluru, known as the IT hub, was rated at 847, while Hyderabad received a score of 882.
ISRO chairman advocates for libraries in temples to attract youth
ISRO Chairman S Somanath advocates for setting up libraries in temples to attract youngsters to places of worship, urging temple managements to transform society. He received an award from Sree Udiyannoor Devi Temple and former ISRO chairman G Madhavan Nair, emphasizing the importance of attracting youth to temples.
Shares of oil marketing companies look attractive: Motilal Oswal
“We expect marketing margins to normalise at higher levels from 2QFY25 onwards as the impact of these events subsides,” said Motilal Oswal’s analysts Abhishek Nigam and Aman Chowdhary in a client note.
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