Bernard Arnault and Jeff Bezos Lead, Elon Musk Drops to Third Spot in Latest Ranking. French businessman Bernard Jean Etienne Arnault has surpassed Amazon founder Jeff Bezos to become the world’s richest person, with an astonishing net worth of $197 billion, according to data from the Bloomberg Billionaires Index. Arnault, the founder and chairman of … Read more
Elon Musk Drops to Third Richest Person in the World, With Net Worth of $189 Billion: Bloomberg Billionaire Index. Tech billionaire Elon Musk has experienced a significant decline in his net worth this year, with a reported loss of $40 billion, marking the steepest fall among the top 10 richest individuals during this period. Once … Read more
Nomura Report: Rural Consumption Grows at Slower Rate, Urban Consumption Declines Compared to Previous Years. A recent report from Nomura highlights how economic shocks such as demonetisation, goods and services tax (GST) implementation, and the COVID-19 pandemic have significantly influenced the growth of consumption expenditure over the past decade. According to Business Standard, which cited … Read more
Adani Defence and Aerospace Marks Significant Milestone with Inauguration of Two State-of-the-Art Facilities for Ammunition and Missile Manufacturing. Adani Group Announces Significant Investments in Defence Sector Over Next Decade to Support India’s Self-Reliance Agenda. Amid the Centre’s push for self-reliance in defence manufacturing, the Adani Group has unveiled plans for substantial investments in the sector … Read more
Seven New IPOs Set to Launch Next Week
Ranjit Shahani, the former Vice Chairman and Managing Director of Novartis India and Chairman of JB Pharmaceuticals, has passed away, as reported by CNBC-TV18. Shahani’s impact on India’s pharmaceutical and healthcare sectors was profound, characterized by his leadership across various organizations. Armed with a Mechanical Engineering degree from the prestigious Indian Institute of Technology, Kanpur, … Read more
As policymakers remain vigilant for signs of strain in the labor market amid the backdrop of the highest U.S. policy rate in decades, analysts suggest that Friday’s jobs report may not offer much in terms of such indicators. Amid ongoing scrutiny from policymakers regarding potential weaknesses in the labor market due to historically high U.S. … Read more
Gold Prices Continue Record Run as US Fed Rate Cut Expectations Grow. Gold prices maintained their upward trajectory throughout the week, fueled by mounting speculation of a US Federal Reserve rate cut following Jerome Powell’s testimony before the US Congress. Spot gold reached a record high on Friday, briefly surpassing the $2,200 mark. On the … Read more
On Friday, Nvidia shares witnessed an unexpected 5.5% decline, erasing a staggering $128 billion in the chipmaker’s market value, marking the steepest drop since May. The dip comes amidst the company’s remarkable 77% surge in share price so far this year, following a triple-digit growth in the previous year. This significant decline has sparked concerns … Read more
According to a recent report from UBS, the Indian stock market’s premium valuation is backed by both cyclical and structural tailwinds, leading the benchmark Nifty 50 to potentially reach the 25,200 level by March 2025. UBS analysts highlight India’s strong structural growth narrative compared to other large economies, combined with political stability and supportive government … Read more
Following fruitful negotiations between the Indian Banks Association (IBA) and several bank employees’ unions, PSU bank employees are poised to reap a host of benefits. The agreement, referred to as the IBA and bank unions pact, promises a noteworthy 17% hike in monthly salaries, along with aligning the Dearness Allowance (DA) to 8088 points, slated … Read more
In the ever-evolving landscape of financial markets, SIP (Systematic Investment Plan) investments have emerged as a beacon of stability and growth. However, amidst the uncertainties brought forth by the pandemic, investors are left pondering whether to stay the course or adjust their SIP strategies. Let’s delve into various approaches and additional strategies to optimize SIP … Read more
February’s Mutual Fund Growth Led by Small-cap Funds with Rs 2,922.4 Crore Inflow, Mid-caps Follow Strongly at Rs 1,808.2 Crore. Sizeable Contributions from Large-cap Funds Boost Mutual Fund Flows with Rs 921.14 Crore Inflow in February. In a recent update from the Association of Mutual Funds in India (AMFI), the equity category experienced a significant … Read more
Despite numerous initiatives by both the government and private sector to empower women, addressing the gender pay gap remains a pressing issue. According to a recent World Bank report, only 35 out of 98 economies worldwide have implemented measures or enforcement mechanisms to tackle this gap. In India, the COVID-19 pandemic has disproportionately impacted women, … Read more
Xiaomi Surprises Indian Market with Launch of Xiaomi 14 Ultra After Earlier Speculations. After much speculation about its availability in India, Xiaomi made a surprising move by launching the Xiaomi 14 Ultra in the Indian market. Initially, the company had indicated that the device wouldn’t be released in India, but its unexpected launch on Thursday … Read more
Investors in the RK Swamy Limited initial public offering (IPO) are on the edge of their seats as they await news on the RK Swamy IPO allotment date, which is expected imminently. Following the closure of bidding on March 6, 2024, anticipation is high for the final allocation of shares, with market experts suggesting that … Read more
Asian markets surged on Friday, buoyed by an overnight rally on Wall Street prompted by dovish signals from central banks. Investors are now eagerly awaiting the release of US jobs data later today. Japan’s Nikkei 225 climbed 0.86%, while the Topix index advanced 0.4%. South Korea’s Kospi posted strong gains of 1.3%, with the Kosdaq … Read more
Sources familiar with the matter revealed that the Union cabinet is poised to discuss the draft agreement with the European Free Trade Association (EFTA) today, potentially paving the way for an announcement on Sunday. This development marks a crucial step in India’s ongoing trade negotiations and could signify the first formally signed free trade agreement … Read more
JM Financial Ltd has affirmed its commitment to fully cooperate with the Securities and Exchange Board of India (SEBI) as the regulator probes into the public issue of debt securities. SEBI’s move comes after it barred JM Financial from taking on new mandates as a lead manager for such issues due to alleged violations of … Read more
Automobile retail sales rose 13 per cent year-on-year in February with all the segments, including passenger vehicles and two-wheelers, witnessing robust offtake, dealers’ body FADA said. Overall retail sales stood at 20,29,541 units last month compared with 17,94,866 units in the year-ago period. Passenger vehicle sales grew 12 per cent to 3,30,107 units last month … Read more