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L&T bets on GenAI for sustainable progress
Larsen & Toubro, a leading engineering, procurement, and construction firm, is prioritizing generative AI for sustainable advancements, as highlighted by S N Subrahmanyan in his inaugural address as chairman at the company's 79th annual meeting on July 4.
Women outpacing men with higher AUM, long-term outlook in mutual funds
The proactive approach undertaken by women investors to achieve financial autonomy and growth, underscoring their commitment to long-term investing.
Will a cryptocurrency like bitcoin grow, increase in value or disappear into oblivion? This factor decides
It is important to understand network effects because it is the singular force that drives economic value in the digital economy, as opposed to the traditional economy.
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.
Children’s mutual fund AUM surge 142% in last 5 years to Rs 20,081 crore in May: ICRA Analytics
The AUM of children’s mutual funds surged by 142% in the last five years to reach Rs 20,081.35 crore in May. This growth is attributed to the disciplined savings habit enforced by the 5-year lock-in period, which encourages long-term investments for children's education.
Bitcoin at one-month low in a broad crypto market selloff
Bitcoin touched a one-month low due to outflows from digital-asset investment products and the prospect of higher US borrowing costs, affecting the cryptocurrency market.
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Everything you expect from physical gold can be done faster, better with digital gold: SafeGold CEO
SafeGold, a digital platform, redefines gold investment with innovative ways to buy, sell, and store vaulted gold. Founder Gaurav Mathur envisions a global standard for digital gold transactions using a technology-driven ecosystem. The company's revenue grew by 35% to Rs 6,100 crore in FY24, maintaining profitability and aiming for faster profit growth.
SC mandate may halt fresh Ad releases
The Advertising Standards Council of India (ASCI) has urged advertisers and broadcasters to refrain from releasing new advertisements between June 18 and July 9, awaiting clarity from the Supreme Court on the self-declaration certificate (SDC) mandate. The Ministry of Information and Broadcasting (MIB) has instructed advertisers to submit SDCs before publishing, airing, or displaying new ads from June 18 onwards. Existing advertisements can continue to run, as SDCs are only required for new ads.
AMCs, insurance stocks offering good money-making proposition: Deven Choksey
I believe that the market is going to remain positive. Investors are going to be remaining confident. Maybe these numbers are going to be forgotten after a couple of days once the ministries and the governments are formed.
Election results: Which themes will give mutual fund investors the best returns?
Sectoral/thematic mutual funds have delivered up to 380% absolute return in the last five years under the Modi-led government, with infrastructure funds leading the chart.
Cryptocurrency price on June 3: Bitcoin approaches $69k on renewed US rate cut hopes
Cryptocurrencies surge as U.S. inflation stabilizes, hinting at Fed rate cuts. BTC and ETH prices rise with a market cap at $2.56 trillion. CEOs anticipate positive momentum amid moderate growth and weak consumer spending.
Muthoot Finance's AUM grows 25% to Rs 89,079 cr in FY24
Muthoot Finance's consolidated assets under management surged 25% YoY to Rs. 89,079 crores in FY24, with a 22% YoY increase in profit after tax to Rs. 4,468 crores. The chairman emphasized a pivot towards non-gold loan growth and digital strategies, aiming to boost subsidiaries' contribution and expand into diverse financial sectors.
'Banks need to look beyond bulk deposits to fund loans': RBI
The Reserve Bank of India (RBI) Thursday said that banks must reduce their reliance on wholesale deposits to fund loans and be watchful of the risks associated with their advances and trading exposures amid interest rate fluctuations.
Reduce reliance on wholesale deposits to fund loans: RBI to banks
The Reserve Bank of India (RBI) advises banks to reduce dependence on wholesale deposits and manage risks from loans and trading amid fluctuating interest rates. Regulatory measures to curb consumer lending and diversify deposit sources are emphasized. The RBI plans to issue new guidelines to enhance financial stability and asset quality in FY25.
Cryptoverse: Miners trudge through post-halving world
Bitcoin miners face challenges with halved mining rewards, increased difficulty, and competition from ETFs. Marathon Digital and Riot Platforms have seen stock drops amid bitcoin's price surge.
Foreign-themed mutual funds rally up to 80% in a year. Should you go international?
International funds, including top performers like Mirae Asset NYSE FANG+ETF FoF, showed strong growth. However, concerns arise with Sebi's restrictions on overseas ETF investments and varying earnings growth in indices like Hang Seng and CSI 300.
Nexus REIT in talks to buy Marina Mall in Chennai
Nexus Select Trust in talks to acquire The Marina Mall in Chennai, developing a diverse portfolio with Grade-A malls in Hyderabad. Plans to double assets to 20M sq ft in 5 years, reflecting India's retail growth and mall consumption surge.
Expect significant growth from insurance income this year: City Union Bank MD
City Union Bank, led by N Kamakodi, aims for significant growth in insurance income to Rs 55 crore in FY'24, with a PAT of Rs 1,016 crore and NIM within guidance levels.
Indian crypto investors take illegal routes to avoid tax burdern
Peer-to-peer trading through escrow services on banned crypto exchanges has increased five times during weeks of high trading volume in March and April, according to a study conducted by Delhi-based policy think tank Esya Centre.
Sebi suggests local regulators oversee crypto trading
Both sets of documents, which have been seen by Reuters, have been submitted to a government panel which is tasked with formulating policy for the finance ministry to consider. SEBI's stance has not previously been reported.
10 Best Digital Lockers Under 10000: Digital Security on a Budget
Unlocking Security: Discover the Top 10 Digital Lockers Under 10,000. From biometric access to smart app integration, these budget-friendly solutions offer unparalleled security for your valuables. Explore features like tamper alerts, RFID technology, and sturdy build quality. Whether for home or office, find peace of mind without breaking the bank with these digital lockers.
ECB partners with RISE Worldwide to monetize virtual, digital ad assets in India
The England Cricket Board partners with RISE Worldwide and executives Tony Singh and Nikhil Bardia to monetize virtual and digital ad inventory in India until 2026, focusing on growing audience reach, engagement, and the fan base for English cricket during marquee matches by working with top-quality brands and earning broadcast rights revenue from India, including sponsorship revenue.
Know Your Fund Manager: Meeta Shetty, Tata Asset Management
"Over the years my role evolved into a full-fledged fund manager, overseeing both sectoral and diversified funds with a total equity AUM of around Rs 12,047 crore as on 30th April 2024 across three funds, Tata Focused Equity Fund, Tata Digital India Fund and Tata India Pharma and Healthcare Fund," said Meeta Shetty, Tata Mutual Fund.
10 Best Digital Lockers for Homes Under 5000 in India
Choosing the right digital locker for our homes can be a tough decision and we must make sure that we get our hands on the most robust and ultra-safe locker. Items like jewellery, keys, property papers, and cash are really valuable and one must make sure that they remain guarded. We have curated a list of 10 best digital lockers for homes under 5000 in India, to ease your task of choosing the right one based on your requirements.
FTX files amended reorganization plan, expects $14.5 billion-$16.3 billion for distribution
FTX said it has anticipated the figure based on monetizing assets, most of which were investments owned by Alameda Research, a crypto-focused hedge fund controlled Sam Bankman-Fried, FTX Ventures businesses, and litigation claims.
JioCinema teases a new 'Ads Free' subscription plan
JioCinema live-streams IPL 2024 with ads, teasing an ad-free tier. A new plan launch on April 25th. Merger between Reliance Industries and Walt Disney to create a TV and streaming platform in India.
The making of a crypto evangelist: Larry Fink's transformative journey
BlackRock has set its sights on Ethereum, filing with the SEC to launch Ethereum ETFs. Larry Fink is bullish on Bitcoin. He regards the iShares Bitcoin Trust as “the fastest-growing ETF in the history of ETFs". This marks a stark departure from his earlier reservations.
Blackstone plans to add $25 billion in India private equity assets over five years
Blackstone Inc. plans to increase its Indian private equity assets by an additional $25 billion over the next five years, citing India's growing appeal to global investors. The New York-based firm also intends to expand its investment team in India and double its office space in Mumbai. Blackstone sees India's regulatory and policy environment, economic growth, and capital markets as conducive to accelerating the creation of a large portfolio. The firm aims to focus on digital infrastructure, energy transition, key transportation sectors, export sectors, and electronic manufacturing in India.
DoT creating digital twin of real assets to unlock monetisation opportunities
The Department of Telecommunications (DoT) in India is developing the Sangam Digital Twin initiative, a digital platform aimed at enabling cross-sector data flows. Combining 5G, IoT, AI, and AR/VR, Sangam will create a simulation environment for real-world assets to generate real-time insights. The initiative aims to break data silos, allowing telecom companies, tech giants, and startups to share data, such as traffic movement, for collaborative planning and optimization.
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