PRIVATE FUNCTION
Top 10 index mutual funds, ETFs deliver up to 36% return in first half of 2024
Top 10 passive funds and ETFs saw returns of up to 36% in the first half of 2024, with a focus on auto sector funds. Notable performers included ICICI Prudential Nifty Auto ETF and Mirae Asset Nifty India Manufacturing ETF, showcasing strong growth in the market.
Comeback Trail: After IT, time for large private banks to make a comeback? 6 top private banks with an upside potential of upto 40%
Today, because one private sector bank and some of the PSU banks are under pressure, the bank nifty is trading in the red. Because the bank in question, Kotak Mahindra bank has come under pressure due to one specific development which tends to be eye-catching, the whole narrative shifts to something which is not related to the core business of banking. If one leaves aside what is happening in the banks today and looks at a slightly broader picture, probably there are underlying indications of something else. A probability of a tactical investment opportunity building in the private sector banks taking place. Look at the leaders from that space, HDFC bank which has been at the forefront of getting all negative news is pretty much close to its earlier highs.
US presidential debate: Private call of top Democrats fuels more insider anger about Biden's performance
Top Democratic Party leaders express mounting concern over the lack of seriousness shown by Joe Biden's campaign and the Democratic National Committee regarding the impact of the president's poor debate performance. During a call with influential committee members, concerns were raised about being asked to ignore the gravity of the situation. Some party members are publicly and privately suggesting Biden should step aside for a younger replacement at the Democratic National Convention.
Congress’ Praveen Chakravarty backtracks over criticism of Karnataka government hiring BCG, issues apology for “private opinion”
AICC leader Praveen Chakravarty on Friday apologised for his post on social media platform X, criticising Karnataka Congress government's decision to hire the Boston Consulting Group (BCG) to help with suggestions to boost state revenue. Chakravarty, chairman of Professionals' Congress & Data Analytics, had faced backlash from his party after his dig at the government was echoed by the opposition BJP.
X to Hide Likes: Why has X made likes private? What is the 'Private Likes' feature and how will it work?"
X, formerly Twitter, is set to launch its 'private likes' feature this week, granting users the ability to like posts privately. While users can still see their liked posts, others cannot. This change aims to encourage more engagement without fear of judgment. Elon Musk, X's owner, emphasizes the importance of allowing users to express themselves freely. The transition away from public likes addresses concerns about undesirable behavior on the platform.
Neither PSU, nor fully private: 7 mid and small cap banks which are hybrid model in many ways with an upside potential of up to 41 %
Banking, a sector where in the last two years winds have blown into as many directions as one could have imagined. Normalization of valuation in large private sector banks, a clean up in the PSU space. Then there is a third set of banks, where probably all these things happened. Right from tech upgrade, clean up of balance sheet, expansion of network and partial upgrade of valuation. In the last few days, there has been a debate about PSU and private banks. The third set of banks is once again not finding much mention on the street. But the fact is that over the last few years, they have been improving their performance, but because they are not majorly in the eyes of either policy makers or the street, they tend to get less attention. The reason for the improvement is a simple one, when RBI makes a change in law, it applies equally to all, whether it is HDFC banks or SBI or a bank which is neither private nor public and are some sort of hybrid. So, these lesser talked ones are a set which come with their own shortcoming and strength.
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ICICI Bank will not levy these credit card charges from July 1
ICICI Bank credit card charges: These charges will be discontinued from July 1, 2024, according to the ICICI Bank website.Here is a look at the credit card charges that will be discontinued.
Industry expects growth-oriented policies; doesn't see coalition as speedbreaker: Anish Shah
Mahindra Group CEO and MD Anish Shah expressed optimism about the continuation of growth-oriented policies in the third term of Prime Minister Narendra Modi-led government. He emphasized that coalition politics will not hinder progress. The industry expects the government to focus on manufacturing for the world, women-led development, farm-led prosperity, and sustainability.
Neo Asset raises Rs 2,575 cr for Credit Opportunities Fund
Neo Asset Management has closed its first Special Credit Opportunities Fund, raising ₹2,575 crore from high-net-worth individuals and family offices. The fund targets a gross internal rate of return (IRR) of 22-24% by investing in non-triple-A-rated companies with operating profits.
Will short-term narrative against PSU banks bring back mojo to private sector banks: 5 banks with an upside potential of up to 24%
One of the sectors where the election results hit hard was the PSU banking space. Two reasons, the stocks had done well in the last one year and had been sitting on big gains, so there is bound to be some nervous selling. Second, they have been seen as following a certain discipline and it is being assumed that because it is a coalition government than probably some amount of laziness might creep in. Well, only time will tell whether it creeps it or not. The hard fact is that in the short term a tactical trade might emerge in banking space, which is incremental money which comes into the banking sector, flows into private sector banks as compared to PSU banks stocks. Another reason why this could happen, over the last three years these private sector banks have under performed on a relative basis. Although they are still heavily owned by institutional investors, the ones who have not sold in the last three years are unlikely to be in a hurry to sell even now. So, for a short term tactical trade, it would be worthwhile to have them on your watchlist.
Noida Authority orders asset attachment of AMG group over Rs 2,409 cr dues
The Noida Authority has ordered the attachment of properties of realty group Aims Max Gardenia (AMG) over pending dues of Rs 2,409.77 crore against two land allotments in the city. The group, contested the amount of pending dues, claiming it was around Rs 1,050 crore and is ready to pay 25 per cent of it, following the recommendations of the Amitabh Kant committee on legacy stalled housing projects to facilitate the registry of flats in its projects.
India has made huge strides, but the new govt still has a lot to do
The past decade in India has seen significant transformations in infrastructure, economic reforms, and digitization, laying the groundwork for sustained growth. The challenge for the new government is to maintain an 8%-plus growth rate and increase per capita income. To achieve this, private investment must drive growth, with investments rising to 32-35% of GDP. Scaling up manufacturing, outcome-oriented skill development, supporting women and youth entrepreneurs, reforming municipal governance, realizing tourism potential, accelerating R&D, and addressing urban challenges are key areas for action.
Now India can hope to have its own SpaceX and Blue Origin
Elon Musk's SpaceX and Jeff Bezos' Blue Origin lead the global space industry discourse. From reusable rockets to space tourism, these companies drive innovation in the space sector.
Did you miss these wealth creators? Top 40 index funds give 50-100% returns in 1 year
Index funds gain popularity, with AUM rising 30% to Rs 9.6 lakh crore in a year. Over 40 funds yield 50-100% returns. Index funds offer low-cost and straightforward equity market exposure.
Compensation gap between private & public sector widens in FY23
Total compensation of employees working with private corporations increased to 13.5% of the GDP in FY23 from 12.8% in the previous year while households, which largely represent the informal sector, saw their wages rise to the highest level in nine years to 8.5% of the GDP in FY23 from 8.4% in FY22.
ETMarkets Smart Talk: Why are FIIs turning net sellers in Indian markets? Aditya Sood decodes
Aditya Sood, Fund Manager at InCred Asset Management, analyzes the impact of NDA's performance, FPIs' net selling, and the attractiveness of MSCI China index on Indian markets. He highlights the crucial role of these factors in shaping investment decisions. Sood says: "Over the next decade, India will be a buy on dip market — all corrections should be used as buying opportunities to increase allocation to equities as an asset class."
CGHS recast in works to cut red tape and dues, link with Ayushman Bharat
It is learnt that the cabinet secretary has been holding rounds of discussions with stakeholder ministries and departments over the last few weeks to address various problems currently ailing the CGHS - from flagging partnership with major private hospitals amid pending dues to taxing referral system and shortage of doctors and healthcare staff to the simmering concern on linkage of CGHS cards with the digitalised Ayushman Bharat Health Account (ABHA) cards.
India needs to reduce trade tariffs, simplify procedures and remove protectionism: NITI Aayog CEO BVR Subrahmanyam
Speaking at Confederation of Indian Industry’s Annual Business Summit 2024, Subrahmanyam listed out the need for fundamental reforms in education and skilling, need for intervention to enhance the women labour force participation rate and plethora of policy measures in agriculture along with greater private sector investment in infrastructure and governance reforms.
Air India fundamental rights claims not valid since it is now a private airline, Supreme Court rules
The Supreme Court ruled that Air India ceased to be a state entity post-disinvestment and takeover by Tata Group, hence not liable to fundamental rights claims. Dismissing appeals against Bombay High Court's verdict, it emphasized Air India's transition to private entity status, precluding writ petitions' maintainability.
Newly privatised Toshiba to cut 4,000 jobs in restructuring drive
Toshiba announces plans to cut up to 4,000 jobs in Japan as part of restructuring efforts following its takeover by a consortium led by Japan Industrial Partners. The move aims to accelerate the turnaround of the conglomerate, reflecting a broader trend of companies resorting to job cuts amid economic challenges.
Govt eyes pvt-public cloud model for chip designs for easy access
This facility will provide easy access to chip and packaging designs to startups, researchers and small firms, as per the plan.
Appropriate price discovery in IPO: Semi-public market could be a solution
The Semi Public market proposal aims to enhance price discovery and transparency before IPOs, offering early liquidity. Despite regulatory challenges, it could reduce volatility and improve scientific price discovery in IPO markets, serving as a potential final solution.
Indian space industry offers tremendous opportunity for private players, says ISRO Chief
ISRO Chairman S Somanath highlights the vast potential for growth and development in the Indian space industry, estimating a $9-10 billion industry within 5-10 years. He praises the collaboration between ISRO and private sector companies like SFO Technologies, emphasizing their role in advancing space technology and environmental sustainability initiatives.
Not beating about the bush-type, don
The former US president, Donald Trump, recently proposed that if top US oil executives gave him $1 billion for his re-election campaign, he would repeal Joe Biden's environmental regulations and prevent new ones. This proposal was made in a moderate openness of a private function, rather than insinuations or winks. Trump's hyper-frank deals and appeals are seen as a perverse virtue in politics, as moral bars are often lowered to near the ankles.
Will short-term headwinds impact long-term potential? 6 stocks from hospital sector with upside potential of up to 30%
After outperforming the market, stocks from the healthcare sector or what is more commonly called hospital sector have gone into consolidation mode. The consolidation has been prompted by the fact that voices have been raised about differential pricing in the services of the hospitals. The matter has reached the Supreme Court and will be heard. Given the fact that while medicine is a science but in real life as practice it has an element of art in it. For example, a hospital who has a renowned surgeon from any branch, be it cardio, neuro on its roll may charge up more for the same surgery as compared to others. While the moral debate is on one side, there is another side to the story. In a country like India, the healthcare infrastructure needs vast expansion and upgradation. To some extent the street is ruthless and does not have much moral obligation.
Plant-based specialty product maker Sanstar gets Sebi nod for an IPO
Sanstar, specializing in plant-based products, approved for IPO to fund Dhule expansion and debt repayment. Third-largest Maize products manufacturer in India. Book Running Lead Manager: Pantomath Capital Advisors. Proposed listing on BSE and NSE.
Perfect and Relative Truth: 6 private and PSU banks stocks with upside potential of upto 34 %
Five years back, ask anyone on the street and he or she would be all in for private banks as an investment both as long term or short term. Nobody would talk of PSU banks as something which are worth investing in. Today, the situation is different. They will not criticize private banks as they all own them, but they will talk about how private banks are facing competition from fintech and how things are changing. But at the same time, they would also not fully trust the revival of PSU banks, both in business and in terms of the valuation recovery. The reality is that in the stock market, there is nothing called perfect truth, it is about relative truth. The answer to this problem of either private or public sector banks probably lies in owning a select few from both spaces. So, that one is able to take advantage of tactical recovery but also long term trend.
Time to have right mix ? A set of 6 private and PSU bank with upside potential of upto 34%
When a large private sector is instructed by RBI to stop doing some part of business and the stock tanks by more than 10 % it is bound to raise questions about whether the private sector banks have passed their best in terms of performance on the street. Literally every entity in the banking sector is being looked at and given the sheer size and number of banks there are some issues that are bound to come up. Only thing which investors should give importance to when looking at the macro picture is how GDP growth is shaping up
Bengaluru water crisis: Tech parks rely on sustainable designs, practices to function
Bengaluru technology parks sustain operations during water shortage with green initiatives, including rainwater harvesting and reduced electricity consumption. They implement green-building rating systems, reduce carbon footprint, and promote environmental sustainability. Companies urge employees to work from home, conserve water, and be climate responsible.
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