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India-Russia summit in Moscow to focus on payment system for trade
Prime Minister Narendra Modi and President Vladimir Putin are set to focus on enhancing financial transactions between India and Russia during their annual summit in Moscow. With Russia facing SWIFT restrictions, both leaders aim to establish quicker and more efficient payment mechanisms. Plans include enabling the use of national currencies for tourists and students, involving RuPay and MiR cards.
Modi to focus on trade imbalance, Indian soldiers in talks with Putin
During his visit to Moscow, Prime Minister Modi aims to address the trade imbalance with Russia and work towards the safe return of Indian nationals involved in the Ukraine conflict. The discussions also focus on enhancing exports across various sectors to strengthen bilateral relations.
Titan Q1 Update: Business grows 9% YoY; company adds 61 stores
Domestic jewellery sales grew 8% year-on-year, boosted by double-digit growth during Akshaya Tritiya. However, high gold prices and fewer wedding days dampened consumer demand compared to the previous quarter. Growth was primarily driven by increased average selling prices, while buyer growth remained in low single-digits. Tanishq expanded internationally with a new store in Muscat.
Equitas Small Finance Bank clocks 35% deposits growth, bucks sectoral trend
Equitas Small Finance Bank, with a priority sector focus, achieved a 35.4% year-on-year deposit growth to Rs 37524 crore by the end of June, surpassing the sectoral average of 12%. Advances increased 17.8% to Rs 34872 crore, although the CASA ratio fell to 31% due to faster term deposits growth. Provisional figures submitted to stock exchanges confirmed these results.
GoI must focus on equitable growth and quality employment
The recent Annual Survey on Unincorporated Sector Enterprises (ASUSE) is a valuable source on informal enterprises provided by GoI that promises to tell us about these voters whose dreams lie unfulfilled. They have struggled in the world’s largest informal economy, India, in jobs without social protections and with lower pay.
DNEG Group raises $200 million from UAE's United Al Saqer Group
The DNEG Group, a leader in visual entertainment tech, has secured a $200 million investment from UAE's United Al Saqer Group (UASG), valuing it at over $2 billion. This boosts DNEG's move towards AI-driven content creation with Brahma, set to democratize CGI. Prime Focus Studios will expand, co-producing major films. A new Abu Dhabi hub aims to boost media jobs. CEO Namit Malhotra plans to leverage this partnership to enhance global services and tech, transforming storytelling capabilities with innovative AI tools.
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European shares advance on rate optimism; UK elections in focus
European shares rose Thursday due to Fed rate cut prospects, weak U.S. data, and Labour gains. FTSE 100 rose by 0.5%, STOXX 600 by 0.3%, led by banks and Continental's 9.6% rise. German industrial orders fell 1.6% in May. Roche fell 2.3% after halting a lung cancer drug trial. Ericsson slipped 1.5% after 11.4 billion crown impairment charge.
Infra cos step up hiring betting on govt focus on sector
India's infrastructure sector is hiring millions in unskilled, semi-skilled, and skilled labor segments, with expectations that the new government will continue investing in infrastructure development, including highways, roads, and airports. An estimated 9.8 million jobs are expected to be created in FY25, driven by strategic investments and ambitious plans for transportation and logistics development.
Gold flat as investors focus on Fed minutes
Gold prices await Fed's rate decision influenced by inflation data, NFP report. China's services slow, impacting metals. Bullion prices steady amid election uncertainty. Analyst Tim Waterer forecasts rate cuts using CME FedWatch Tool.
AI-focused tech firms see big jump in market cap in June
Nvidia shares rose as much as 27% in June, boosting its market capitalization to $3.34 trillion, before giving up some of their gains later in the month, due to profit booking and concerns over its high valuations.
Megacaps boost Nasdaq in choppy trade; jobs data in focus
Semiconductor stocks such as Advanced Micro Devices, Arm Holdings and Micron Technology fell between 1% and 4%, pulling the Philadelphia SE Semiconductor index to a near one-week low.
Focus on inducting indigenous weapons: Army chief
General Upendra Dwivedi, the new Chief of Army Staff, emphasised the Army's transformation towards self-reliance by maximising indigenous weapon systems, prioritising preparedness for all operational challenges and fostering close collaboration with other forces to operate effectively in various conflict scenarios.
How to trade India Cements, NMDC, Amara Raja and 3 other stocks? Aamar Deo of Angel One decodes
Markets had a dream rally in June, with the benchmark index Nifty gaining 2% WoW, whereas Bank Nifty gained 1.3% WoW. Overall, the markets continue to be driven by bullish investment sentiments, on the back of positive global cues, rally in heavyweights and on the hopes of rate-cut materialising, most probably in this quarter.
Cannot avoid market momentum but be a little more selective: Mayuresh Joshi
The entire ecosystem will see accelerated investments and the government push through regarding the capex needs. Also, railways as a theme, defence as a theme, and shipbuilders as a theme will continue. Execution is going to be extremely important out here, says Mayuresh Joshi. He further says the earnings story and earnings growth should continue to remain strong in select domestic-focused sectors
Bugonia: See Emma Stone and Jesse Plemons starrer film’s confirmed release date, storyline, production, cast and crew
Bugonia, directed by Yorgos Lanthimos, features Emma Stone and Jesse Plemons in a story about two young men who kidnap a CEO they believe is an alien. The film releases on November 7, 2025.
F&O Rollover: FIIs bullish on index in July series with net longs; what's in store for Nifty?
Nifty futures rollovers hit 76% at June series end, exceeding the previous three-series average of 69%. The July series kicks off with a higher open interest base of Rs 36,400 crore. Roll cost for Nifty settled at 40 bps on expiry day, down from the previous day's 52-54 bps.
Ujjivan SFB to work on key focus areas
The SFB entered new states in FY24, which is expected to support the loan book growth in the medium term. The analysts have trimmed the earnings expectations citing possibility of higher loan loss provisioning over the next two years.
No more licensed biz, Paytm to focus on distribution model
Digital payments major Paytm wants to stay away from getting into any regulated businesses and would rather focus on building distribution heft. The senior leadership have taken a conscious call to not go after regulatory licenses but rather work with licenced entities and distribute products better.
Downton Abbey 3: Check out what we know about production, release date, cast and crew
Downton Abbey 3 will release on September 12, 2025. Simon Curtis directs the film, written by Julian Fellowes. The movie features returning cast members and new additions, aiming for continued success.
AI-focused manufacturing startup Bright Machines raises $106 million from Nvidia, others
The San Francisco-based company makes equipment and software that helps automate a range of manufacturing tasks through the use of artificial intelligence and machine learning.
8X Ventures closes India-focused deeptech fund at Rs 200 crore
8X Ventures announced the first close of its second India-focused deeptech fund at Rs 200 crore, with a green shoe option of Rs 100 crore, aiming to back 18-20 early-stage Indian deeptech startups over three years.
Asia shares push higher; Aussie firm ahead of RBA rate decision
Asian stocks rose ahead of the RBA's policy decision, with expectations for the central bank to maintain rates and provide guidance on a potential easing cycle.
Best focused mutual funds to invest in June 2024
According to Sebi norms, focused equity mutual fund schemes must invest in a portfolio of maximum 30 stocks. These schemes have no other restrictions when it comes to investing- like flexi cap schemes they can invest in any market capitalisations and sectors. If that investment strategy appeals to you, you can get to know more about focused equity schemes.
Adani group companies, LTTS among 19 companies in focus today & tomorrow
Adani group companies and LTTS, among others, are in focus for corporate actions like dividends and AGMs this week.
Government's focus on housing and infrastructure to continue: Karthik Srinivasan
As I said in terms of GDP growth, we do expect the country to continue in 6.5% to 7% kind of growth rates for next couple of years
Akasa Air well on path to profitability; will launch more intl flights: Co-Founder Aditya Ghosh
Akasa Air, co-founded by Aditya Ghosh, is progressing towards profitability and expanding its reach to South and Southeast Asia. In under two years, the airline has grown to a fleet of 24 planes with over 4,000 employees. Ghosh emphasizes a customer-focused, consistent approach to operations and plans further international and domestic expansions.
Cement, infra are key sectors to look at because of prospect of policy continuity: Pankaj Pandey
Pankaj Pandey discusses the impact of the incumbent government's majority on the market, focusing on earnings, Budget expectations, and sector performance post-elections. Pandey further says once this monsoon gets over the focus will shift towards the overall infra spend side. Cement has not seen much of a price performance and key players like ACC, Ambuja, UltraTech or JK Cement are going to experience a slightly better growth rate than the industry.
J&J acquires experimental skin disorder drug for $1.25 billion
NUMAB THERAPEUTICS-JOHNSON&JOHNSON/M&A (UPDATE 2, PIX)UPDATE 2-J&J acquires experimental skin disorder drug for $1.25 billion
Best aggressive hybrid mutual funds to invest in May 2024
As per Sebi norms, these schemes must invest 65-80% in stocks, and 20-35% in debt. This mixed portfolio helps to deal with the market volatility better. When the equity market is in turmoil, the debt part of the portfolio softens the blow. This helps new investors to continue with their investments without worrying too much about volatility.
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