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Multi-asset playbook divides mutual fund industry; hybrids in demand

Multi-asset playbook divides mutual fund industry; hybrids in demand

Rediff.com16 Sep 2023

The change in debt fund taxation is seen as boosting the demand for hybrid funds. It is no surprise then that asset management companies (AMCs) have launched a raft of new products in the multi-asset category. However, they seem to be divided on the asset mix and approach. The multi-asset space, which provides fund houses ample scope to innovate, has seen five launches in as many months.

23 companies in race for ISRO's small satellite launch vehicle technology

23 companies in race for ISRO's small satellite launch vehicle technology

Rediff.com14 Sep 2023

As many as 23 companies have evinced interest in acquiring the Indian space agency's Small Satellite Launch Vehicle technology, said a top official who termed it a "tremendous response". Chairman of Indian National Space Promotion and Authorisation Centre (IN-SPACe) Pawan K Goenka said on Thursday that they are keen to see how the private sector uses the Small Satellite Launch Vehicle (SSLV) technology. "There has been a tremendous response, 23 companies have (so far) shown interest in applying for this technology.

Amazon Pay India growing at 40-50%: CEO Mahendra Nerurkar

Amazon Pay India growing at 40-50%: CEO Mahendra Nerurkar

Rediff.com14 Sep 2023

With over 80 million Unified Payments Interface (UPI) users, Amazon Pay, the payments business of e-commerce giant Amazon, has been growing at 40-50 per cent year-on-year (Y-o-Y), said Mahendra Nerurkar, chief executive officer (CEO) and vice-president (V-P), Amazon Pay India. "Leveraging just the micro peer-to-peer (P2P) transactions on UPI is not a business model. "While we have enabled those features, we do not chase monthly active users based on this.

Factors that will guide the markets this week

Factors that will guide the markets this week

Rediff.com10 Sep 2023

Macroeconomic data announcements, global factors and trading activity of foreign investors would be the key triggers for the domestic stock markets this week, analysts said. Last week, the benchmark indices joined the broader market's party despite a host of negative global cues. In the broader market, the BSE midcap and smallcap gauges hit their all-time highs on Friday.

Uday Kotak: A journey to meteoric heights cut short by regulator

Uday Kotak: A journey to meteoric heights cut short by regulator

Rediff.com2 Sep 2023

Growing up in the Mumbai of 1970s, Uday Kotak aspired to be a cricketer and trained under legendary coach Ramakant Aachrekar. However, it was an on-field injury which resulted in a shift to finance. He started off with bill discounting, turned to lending and successfully applied to start a universal bank in the first decade of the millennium, as India was warming up to private play in banking.

From hatchbacks to holidays, consumers ready to loosen purse strings

From hatchbacks to holidays, consumers ready to loosen purse strings

Rediff.com1 Sep 2023

With Onam and Raksha Bandhan just around the corner, the festival season is ready to kick off in full swing. As people embrace the celebratory spirit, companies anticipate a surge in sales this year. Consumer durables firms are expecting strong growth of 40-50 per cent in the premium segment during the upcoming season. Appliance makers also foresee increased demand for cooling appliances - refrigerators and air conditioners - which were impacted by unseasonal rainfall.

Viacom18 bags BCCI media rights for whopping US $721m!

Viacom18 bags BCCI media rights for whopping US $721m!

Rediff.com31 Aug 2023

Media rights for the Indian cricket team is always a prized scalp and it was Viacom18 who bagged the deal on Thursday to broadcast India's home matches for the 2023-28 cycle.

Indian steel sector flags Chinese imports, wants 'trade distortions' fixed

Indian steel sector flags Chinese imports, wants 'trade distortions' fixed

Rediff.com29 Aug 2023

Worried by a spike in Chinese imports, the Indian Steel Association (ISA) plans to take up the matter with the government and seek measures to fix "trade distortions". Alok Sahay, secretary general of the group that represents the country's steel producers, said systemic changes were needed. "In order to take any trade measure, it takes a minimum of 15 months' time, due to prevalence of lesser duty rule in India, making India an easy target. "We are going to write to the government on this," he said.

Factors that will guide the markets this week

Factors that will guide the markets this week

Rediff.com20 Aug 2023

With the first quarter earnings season coming to an end, the domestic equity markets would be driven by global trends and trading activity of foreign investors this week, analysts said. The movement of global oil benchmark Brent crude and the rupee against the dollar would also drive trends in the market. "Macroeconomic indicators, trends in global stock markets and FII activities will be pivotal in shaping market trends in the coming days," Pravesh Gour, senior technical analyst at Swastika Investmart Ltd, said.

Sensex falls below 65K; IT, metal stocks weigh

Sensex falls below 65K; IT, metal stocks weigh

Rediff.com19 Aug 2023

Equity benchmark index Sensex buckled under selling pressure for the second straight session to close below the 65k mark on Friday, as investors offloaded IT, teck and metal stocks amid a bearish global trend. Besides, fresh foreign fund outflows also hit investor sentiments, traders said. In a volatile trade, the 30-share BSE Sensex declined 202.36 points or 0.31 per cent to settle at 64,948.66.

Market structure to face shorter IPO timeline test: Industry players

Market structure to face shorter IPO timeline test: Industry players

Rediff.com18 Aug 2023

The shift to a shorter T+3 settlement cycle for initial public offerings (IPOs) will be a big test of the domestic market structure, requiring players in the ecosystem to work harder to meet the squeezed timelines, according to industry insiders. The Securities and Exchange Board of India (Sebi), has announced that the transition to the T+3 cycle will be voluntary starting next month and mandatory from December 1. The new mechanism will necessitate quicker confirmations from banks and speedy verification of permanent account numbers (PANs) for all applicants.

Share of L&T's slow-moving projects in order book at multi-year low

Share of L&T's slow-moving projects in order book at multi-year low

Rediff.com14 Aug 2023

The share of slow-moving orders in the overall order book of Larsen & Toubro (L&T) is at a multi-year low. This has led to a renewed focus on fast-moving orders. A mix of factors such as commodity price fluctuations, robust order inflow and strong sectoral demand have put capital goods order book in the fast lane, analysts and company executives said. L&T, with its large presence in the capital goods sector, is often seen as the bellwether for trends in this space.

Factors that will guide the markets this week

Factors that will guide the markets this week

Rediff.com13 Aug 2023

Inflation data, global trends and foreign fund trading activity would guide equity market movement in a holiday-shortened week, analysts said. Stock markets would remain closed on Tuesday for Independence Day. "Macroeconomic indicators, rupee and FII activities will be pivotal in shaping market trends in the coming days.

Is YOUR Job SAFE?

Is YOUR Job SAFE?

Rediff.com7 Aug 2023

How do you avoid being laid off? If you have been let go, what should you do next? Ask rediff Career Gurus to find out.

Factors that will guide the markets this week

Factors that will guide the markets this week

Rediff.com6 Aug 2023

The RBI interest rate decision, industrial production data for June and the ongoing quarterly earnings from corporates would largely drive the stock markets this week, analysts said. Other major factors such as global market trends, the movement of oil prices and the trading activity of foreign investors would also influence trading, they added. "The market will have an eye on the RBI Monetary Policy Committee (MPC) meeting, which will be announced on August 10, 2023. We are heading towards the last batch of Q2 earnings of key companies such as Adani Ports, Coal India, Hero MotoCorp, Hindalco and ONGC, among others, which will lead to stock-specific movement," said Pravesh Gour, senior technical analyst, Swastika Investmart Ltd.

Ransomware attacks surge over 2-fold in India in first half of 2023: Report

Ransomware attacks surge over 2-fold in India in first half of 2023: Report

Rediff.com4 Aug 2023

India saw a huge surge in ransomware and IoT cyber attacks in the first half of 2023, as criminals shifted to stealthier means of malicious activities, according to a report by SonicWall. While major economies like the US and the UK witnessed a decline in ransomware attacks, India (up 133 per cent) and Germany (52 per cent) are among the countries that saw a huge surge in such attacks, the 2023 SonicWall Mid-Year Cyber Threat Report for the January-June period stated. At the global level, a variety of other attacks have trended up, including cryptojacking (399 per cent), IoT malware (37 per cent) and encrypted threats (22 per cent), the report said.

Pak hockey team arrive in India for Asian Champions Trophy

Pak hockey team arrive in India for Asian Champions Trophy

Rediff.com1 Aug 2023

India and Pakistan are the most successful teams in the tournament with three titles each.

Firm buying to keep the rally going in gold jewellery stocks, say analysts

Firm buying to keep the rally going in gold jewellery stocks, say analysts

Rediff.com27 Jul 2023

Stocks of gold jewellery retailers have been able to retain their sheen in 2023 despite volatile gold prices. Kalyan Jewellers, Titan, PC Jewellers, Thangamayil Jewellery, and Tribhovandas Bhimji Zaveri (TBZ) have rallied 21-72 per cent so far since April as compared to a 13 per cent gain in the benchmark Sensex index. The rally gained steam on the back of gold's 6 per cen

Who Can Dethrone The US Dollar?

Who Can Dethrone The US Dollar?

Rediff.com24 Jul 2023

Policymakers should aspire to restore the pre-Independence environment where the rupee was trusted and used all over South Asia, in Southeast Asia, in West Asia, and in East Africa, suggests Ajay Shah.

IPO market revival still some time away, say analysts

IPO market revival still some time away, say analysts

Rediff.com18 Jul 2023

It is pouring heavily not only in North India, but at Dalal Street too. However, the latter is seeing a flurry of initial public offers (IPOs). After a busy fortnight that ended on July 7 with seven IPOs - IdeaForge Technology, Cyient DLM, PKH Ventures, Pentagon Rubber, Global Pet Industries, Tridhya Tech, and Synoptics Technologies -- four more IPOs will hit the Street this week, including one mainboard IPO of Utkarsh Small Finance Bank. That apart, India's largest securities' depository National Securities Depository Limited (NSDL) has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an IPO.

Betting on India's growth, top steel firms in midst of big expansion plans

Betting on India's growth, top steel firms in midst of big expansion plans

Rediff.com18 Jul 2023

On June 30, mining and metals giant Vedanta, announced that it had decided to initiate a strategic review of its steel and steel-making raw material businesses. The review would begin immediately and evaluate a broad range of options, including but not limited to a potential strategic sale of some or all of the steel businesses, the company said in its stock exchange filing. The signs have been there - approaches had been made to steel players over the past year. Last December, Anil Agarwal, chairman Vedanta group, told Business Standard that the steel plant capacity was about 3 million tonnes (mt).

Factors that will guide the markets this week

Factors that will guide the markets this week

Rediff.com16 Jul 2023

Domestic equity markets, which are at record high levels, will be driven by quarterly earnings, global trends and foreign fund movement, analysts said. The movement of rupee and global oil benchmark Brent crude will also be tracked by investors. "The direction of global stock markets, fluctuations in the rupee-to-dollar exchange rate, and movement in crude oil prices will all play a crucial role in influencing the overall market trend.

First US Navy ship arrives at TN port for repairs after Indo-US pact

First US Navy ship arrives at TN port for repairs after Indo-US pact

Rediff.com10 Jul 2023

The USNS Salvor was welcomed with a ceremony at the shipyard on Monday, and it is the first ship to arrive after the signing of the MSRA.

Factors that will drive the markets this week

Factors that will drive the markets this week

Rediff.com9 Jul 2023

Trading in the equity market this week will be highly influenced by a host of important triggers, with quarterly earnings from IT majors TCS, Wipro, and domestic inflation and IIP data taking the centre stage in dictating the movement in equities, analysts said. Besides, global factors and trading activity of foreign investors will also drive markets. "We are approaching the first quarter earnings season, with HCL Tech, TCS and Wipro set to report their earnings this week.

'Modi has moved foreign policy from elite to masses'

'Modi has moved foreign policy from elite to masses'

Rediff.com5 Jul 2023

'For the first time since I've been following Indian politics, one heard voters talking about India's role on the world stage and the fact that, due to Modi's leadership, India was once again a great power.'

Maruti, Hyundai post single-digit rise in June passenger vehicle sales

Maruti, Hyundai post single-digit rise in June passenger vehicle sales

Rediff.com1 Jul 2023

Maruti Suzuki India (MSI) and Hyundai posted single-digit growth in domestic sales in June, even as the overall passenger vehicle segment crossed the 20 lakh units sales mark for the first time-ever in the first half this year. Toyota Kirloskar Motor reported a double-digit growth in dispatches to dealers, while Kia saw a dip in wholesales last month. MG Motor India also reported a double-digit increase in retail sales in June 2023 compared to the same month last year.

The A-W Of Desi Guests At the White House Dinner

The A-W Of Desi Guests At the White House Dinner

Rediff.com24 Jun 2023

The dinner Jill Biden and her husband US President Joe Biden hosted for Indian prime minister Narendra Modi, June 22, at the White House brought together, Indians and Americans from so many firmaments.

Full Text: PM Modi's address to US Congress

Full Text: PM Modi's address to US Congress

Rediff.com23 Jun 2023

Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.

Consequences of 'CEO exits' at Indian IT companies

Consequences of 'CEO exits' at Indian IT companies

Rediff.com22 Jun 2023

Indian IT services companies have seen several CEO changes that have, over the past few months, led to some crucial exits at the mid-senior level in a trend that is likely to continue. According to a recent Motilal Oswal report, "Movement of mid-to-senior leadership at IT services firms is a reality, partially on account of multiple CEO-level changes.

MRF hits Rs 100,000 mark; stock touches record high on the BSE

MRF hits Rs 100,000 mark; stock touches record high on the BSE

Rediff.com21 Jun 2023

Shares of MRF crossed a first time Rs 100,000 mark, hitting a record high of Rs 100,300, up 1.4 per cent on the BSE in intra-day trade. on June 13, 2023. The stock surpassed its previous high of Rs 99,879.65, touched May 8, 2023. Thus far in the current calendar year 2023 (CY23), MRF has outperformed the market by gaining 14 per cent on improved financial performance.

Small-cap, arbitrage funds buck 'low inflow' trend this calendar

Small-cap, arbitrage funds buck 'low inflow' trend this calendar

Rediff.com20 Jun 2023

Two equity funds at the opposite ends of the risk matrix - small-cap and arbitrage - bucked the 'low inflow' trend in May this calendar year 2023 (CY23) to receive the highest net inflows in recent years. The Rs 3,280-crore net inflows into small-cap schemes in May was the highest for the category since the mutual fund (MF) industry started releasing fund-wise inflow data in April 2019. Arbitrage schemes raked in a net Rs 6,640 crore - the highest since July 2021.

On the table before Modi-Biden: Closer defence, tech ties

On the table before Modi-Biden: Closer defence, tech ties

Rediff.com19 Jun 2023

Stepping up defence cooperation, India and the US are poised to unveil a roadmap for industries in the sector to partner closely in co-production, co-development and maintaining supply change during Prime Minister Narendra Modi's visit to the US beginning June 21.

Despite signs of fatigue, market breadth shows bulls have upper hand

Despite signs of fatigue, market breadth shows bulls have upper hand

Rediff.com18 Jun 2023

The previous two sessions have seen benchmark indices, the BSE Sensex and Nifty presenting signs of fatigue, reaching closer to its all-time highs level. Both indices are down approximately 1 per cent from recent highs and 2 per cent away from reaching a new peak. This has led to confusion on the street about its ability to reach another milestone. The present bullish trend in the leading indices; which has displayed smart recovery since late March this year, remains intact as the market breadth continues to stay elevated.

Modi to visit US, Egypt from June 20-25. Details here

Modi to visit US, Egypt from June 20-25. Details here

Rediff.com16 Jun 2023

Modi's visit to the US will commence in New York, where he will lead the celebrations of the International Day of Yoga at the headquarters of the United Nations on June 21.

BSE Smallcap index hits record high; experts see more upside

BSE Smallcap index hits record high; experts see more upside

Rediff.com15 Jun 2023

The S&P BSE Smallcap index hit a record high 31,396.64, gaining nearly 1 per cent on the BSE in intra-day trade on June 7 after a strong rally in railway, auto and hospitals stocks. In the process, the index surpassed its previous high of 31,304.44, touched on January 18, 2022. In the past one month, the S&P BSE Smallcap index has outperformed the market surging by 6.6 per cent, as compared to 5.9 per cent rise in the S&P BSE Midcap index and 1.9 per cent gain in the S&P BSE Sensex.

Nuclear Or Conventional Submarines: What Should India Pick?

Nuclear Or Conventional Submarines: What Should India Pick?

Rediff.com13 Jun 2023

The status of the current submarine force level is alarming and we need to address the threat perceptions expeditiously. Critical decisions pertaining to national security cannot be delayed any further due to the rapidly changing maritime threat perceptions and growing strategic importance of the Indian Ocean region, asserts Commodore Venugopal Menon (retd).

Modi's welcome ceremony at White House to be one of the biggest

Modi's welcome ceremony at White House to be one of the biggest

Rediff.com12 Jun 2023

The first state visit of Prime Minister Narendra Modi to the US is likely to be a defining moment for Indo-US relationship and both sides are working on a robust outcome document that may take up matters that would decide the contour of the bilateral ties for decades to come, according to people familiar with the planning of the high-profile trip.

More than skin-deep: Nifty Next 50 complexion to get a shade of difference

More than skin-deep: Nifty Next 50 complexion to get a shade of difference

Rediff.com12 Jun 2023

The National Stock Exchange (NSE) Nifty Next 50 Index could undergo large-scale changes if the proposed tweaks to its computation methodology get implemented. In a discussion paper floated recently, NSE Indices, which owns and manages a portfolio of over 350 indices under the Nifty brand, proposed that only stocks that are traded in the futures and options (F&O) segment can be part of the index. Currently, as many as 11 non-F&O stocks are part of the Nifty Next 50 Index, which, as the name suggests, represents the next rung of large and liquid securities after the Nifty50.

Shoppers need not stop: Dynamics of in-store payments is being rewritten

Shoppers need not stop: Dynamics of in-store payments is being rewritten

Rediff.com12 Jun 2023

In March this year, Worldline India launched Vabox (Voice Alert Box): merchants will now get instant audio alerts on the settlement of UPI (Unified Payments Interface) payments via QR codes in languages of their choice when customers check out. "They needn't worry whether the amount has been credited to their account," says Gulshan Pruthi, the firm's executive vice-president. The French payments giant will roll out 500,000 Vaboxes in the initial phase.

Factors that will guide the markets this week

Factors that will guide the markets this week

Rediff.com11 Jun 2023

Announcement of macroeconmic data such as industrial production and inflation, the US Federal Reserve's interest rate decision along with trends in global equities would dictate movement in the stock market this week, analysts said. Besides, foreign fund trading activity would also guide the trends in equities. "All eyes are now on the US Fed policy outcome for cues, which is scheduled on June 14. In the following sessions, the European Central Bank (ECB) and Bank of Japan (BoJ) will also announce their policy decisions.

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