FINANCIAL STANDING
HDFC Bank leads financial sector rally, powering D-Street to all-time highs
The 30-stock S&P BSE Sensex reached a record high of 80,074.3 before closing the session at 79,987, up by 545 points or 0.69%. Meanwhile, the broader Nifty hit a peak of 24,309.15 before ending the day at 24,287, gaining 163 points or 0.67%.
When Shah Rukh Khan's favourite black gypsy was taken away as he could not pay EMI's
Juhi Chawla reminisces about Shah Rukh Khan's early struggles in Bollywood during an event, recalling how he faced financial difficulties, including the repossession of his black Gypsy due to unpaid EMIs. Despite these challenges, Juhi praised Shah Rukh's determination and foresaw his future success. Their enduring friendship, spanning decades and collaborations in films and business ventures like Kolkata Knight Riders, highlights their shared journey.
BSNL to monetize prime land parcels in Mangalore; eyes Rs 39 crores reserve price
Bharat Sanchar Nigam Limited (BSNL) has announced the monetization of its land parcels in Mangalore in an effort to bolster its financial standing. The two-acre land parcel adjacent to Kadri Park at Store Yard, near Kadri Hills on Park Road, is set for e-auction. The reserve price is set at Rs 39 Crores with an Earnest Money Deposit (EMD) of Rs 1.95 Crores.
Savings down, financial liabilities up: RBI says household debt warrants close monitoring
The Reserve Bank of India highlighted rising household financial liabilities post-Covid, with overall savings dropping to 18.4% of GDP in FY23 from an average of 20% between 2013-22. Household debt, driven by increased retail loans, is mostly held by prime credit quality borrowers. Savings are now shifting towards physical assets and non-bank investments.
JM Financial initiates coverage on this small cap stock, views upside potential of 20%
Shivalik Bimetal Controls, analyzed by JM Financial, shows potential in niche markets with diverse growth avenues, including smart metering, EVs, and customized products. The company's expansion into shunt resistors and focus on global opportunities signal a promising future amidst challenges like market delays.
Take charge of finances: How to make a personal financial bucket list to achieve all your goals
Taking control of our money lives is something many of us are unable to do. It sounds simple, but many of us do not believe we can take charge and do something about our dreams. Slipping into excuses, living in denial of our true situation, blaming the world for our unhappiness, and assigning it to bad luck are tactics that stop us from asking what we could do.
GST Council Meeting: Sin goods windfall, tax relief talks, and more ahead of budget buzz
GST Council Meeting: The upcoming 53rd meeting of GST Council is poised to discuss several key measures that could pave the way for significant tax reforms ahead of the government's first full budget. Among the agenda items are -- the use of approximately Rs 70,000 crore collected from GST compensation cess on products like pan masala and cigarettes. Discussions may also cover the potential waiver of interest or penalties on tax notices issued between 2017 and 2020, excluding cases of deliberate default.
MFs cut weight on technology stocks by 170 bps in just 3 months. What are cues for investors?
In May, several MFs reduced tech stock weights by 0.1%-0.9%, with HSBC making the highest cut at 0.9%. HDFC MF, Mirae, and Franklin Templeton increased weights by up to 0.2%.
3 undervalued cryptos for financial freedom in 2024
Investors are hoarding emerging crypto coins like PlayDoge, 99Bitcoins, and Sealana, which offer unique features and potential for growth in the crypto market.
US risks a ‘Forever’ trade war with China, says Economist Stephen Roach
The US is erecting new trade barriers that will hold back China’s sales of key products like electric vehicles, accusing Beijing of building excess capacity using state subsidies and flooding global markets with cheap products.
Not with standing weekly loss, downside in gold likely to remain limited
Going by the action in bonds, the markets are still not giving much credence to the idea of a rate hike. The next week is quite crucial for the financial markets as many major data and reports will be released.
Where do thematic funds stand in the risk matrix?
Thematic funds are a category of equity funds which invest at least 80% of total assets in stocks of a particular theme. Some popular themes launched by fund houses in the last few years are public sector undertakings (PSU), infrastructure, MNC, business cycle, and manufacturing funds.
India stands out for EM investors in ageing world
The investors are focusing on the two nations in emerging Asia, thanks in part to an expected boom in infrastructure spending, which in turn bodes well for the countries' economies.
Government to evaluate four financial sector schemes of finance ministry
The Development, Monitoring, and Evaluation Office of NITI Aayog will soon conduct assessments of four key financial sector initiatives administered by the Department of Financial Services: Pradhan Mantri Jan Dhan Yojana (PMJDY) initiated in 2014, along with the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Stand-up India (SUPI) program. The objective is to scrutinize the schemes regarding their reach and effectiveness among the intended beneficiaries and to explore potential enhancements to the insurance scheme benefits.
Kotak Mahindra Bank revises savings, salary account charges, limits: Know latest cash transaction limits, ATM charges & more
The bank has revised average balance criteria, free cash transaction limits, free ATM transaction limits, standing instruction failure fee, free cheque book limit.
G7 needs to stand united on Chinese overcapacity: France
French Finance Minister Bruno Le Maire highlights the need for G7 unity against China's overcapacity in electric car batteries and joint action on frozen Russian assets. Europe must boost growth to address US-Europe economic differences. France is ready to support a US proposal for Ukraine.
Donald Trump eyes witness stand as trial draws to a close
Donald Trump's trial on charges of covering up hush money payments to a porn star enters its closing stages Monday with the door still open to the former president taking the stand. Cohen, Trump's former personal lawyer and fixer turned tormentor, recounted how he kept Trump informed about $130,000 paid to porn star Stormy Daniels to buy her silence about an alleged affair ahead of the 2016 presidential election.
Production of tea down all over India by 13 million kg
Tea industry in season 2024 faces challenges with production declines, weather issues, and financial stress. Darjeeling sector seeks relief package for survival amidst declining yields and prices.
Sri Lanka reduces policy rates by 50 bps to boost growth
The central bank has now slashed interest rates by a total 700 basis points since last year as Sri Lanka's economy began a painful recovery from its worst financial crisis since independence from the British in 1948.
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