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.
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.
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.
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.
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.
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