INDIA NEWS | Fri, 18 Jun 2021, 11:19AM ISTCoronavirus Cases and Deaths in India Live, Coronavirus Statics India Live, Covid-19 Vaccination in India, Delta Variant Coronavirus Latest Update: Delhi High Court takes suo motu cognizance on various images of marketplaces circulated on WhatsApp where people were not wearing masks and not following COVID19 protocols.
INDIA NEWS | Fri, 18 Jun 2021, 11:15AM IST WTC Final 2021 | India vs New Zealand Test LIVE Updates: The winner will lift the first-ever ICC World Test Championship title along with $1.6 million in prize money and the Mace.
INDIA NEWS | Fri, 18 Jun 2021, 11:14AM IST Following the coronavirus pandemic and the likely trend of changing lifestyle with a greater focus on health, KIMS is expected to generate steady growth, Angel Broking said.
INDIA NEWS | Fri, 18 Jun 2021, 11:11AM ISTCapex intensity and the pace of receivables collection from distribution companies will dictate ratings trajectory for Greenko Energy Holdings and ReNew Power, Fitch Ratings has said in a new report
INDIA BUSINESS | Fri, 18 Jun 2021, 11:05AM ISTThis alert comes as SBI recently decided to permit acceptance of documents for KYC update through mail or post due to the difficulties faced by customers amid local lockdowns
INDIA BUSINESS | Fri, 18 Jun 2021, 11:04AM ISTIMA national president Dr JA Jayalal said besides its members, a number of organisations such as the Association of Physicians of India, the Association of Surgeons of India, the Medical Students Network, Junior Doctor Network will participate in the protest
INDIA MARKET | Fri, 18 Jun 2021, 11:03AM ISTPSUs share of profits has risen from 18% in the financial year 2017-18 to 28% in the financial year 2020-21, after consistently declining from 39% a decade ago.
INDIA MARKET | Fri, 18 Jun 2021, 11:01AM ISTIn international markets, Gold rose on Friday, but was headed for its worst week since March 2020 after the US Federal Reserve's hawkish message on monetary policy lifted the dollar higher and dented...
INDIA NEWS | Fri, 18 Jun 2021, 10:56AM IST In India, 14.7 million new demat accounts were opened in FY21. This trend of retail investors flocking to the market and trading from home is now a global phenomenon.
INDIA NEWS | Fri, 18 Jun 2021, 10:53AM ISTMillennials are the demographic cohort, who at the lower end of the distribution have just started earning and at the higher end have come to a respectable earnings position. Owing to increased levels of awareness, digital adoption and product innovation over the years, investors in general, including the millennials, have begun appreciating the potential of ETFs. ETFs combine the trading flexibility of a stock, coupled with diversification and low costs of a mutual fund. The fact that ETFs offers exposure to a basket of stocks at a fraction of the amount with several advantages when compared to direct investing, are all factors which have helped elicit favourable response from millennials. Also, today the options are no longer limited to for plain vanilla schemes; there are several smart beta ETFs offerings as well to consider. Globally, smart-beta funds have taken the investing arena by storm and have already garnered $1.12 trillion worth of investments globally by March 2021, according to ETFGIs Smart Beta industry landscape report. While the scale and size of these products in the developed markets are gaining heft, these funds have also made their way to India as well. A smart beta fund seeks to combine the benefits of passive and active investing strategies. The goal is to obtain a relatively higher alpha while keeping the costs lower than traditional investment options. What is a Smart Beta offering?Beta is a measure of market volatility represented by an index. It becomes a smart beta when the allocation of an index is tweaked to achieve a better risk-reward ratio. Long-term data indicated that single-factor based index strategies, could exhibit cyclicality and may underperform during certain market phases. An alternative smart beta strategy is to select stocks based on a combination of multiple factors, as a means to counter the impact of the cyclicality of single-factor indices. Today, most of the products available in the smart beta space revolve around the following four factors - low volatility (lower variation in price), Value (stocks relatively cheaper), Quality (consistent growth irrespective of the business cycle) and Momentum (following the trend). Globally, with interest rates in the developed markets remaining abysmally low, the smart beta index based on dividend yield has been the main factor in drawing significant investors attention. Meanwhile, in India smart beta strategies around low volatility, value and a combination of alpha and low volatility have attracted reasonable investor interest. So how do these schemes work?Each of these indices being rule based eliminates human bias while making investment decisions. For the sake of explanation let us consider two examples a single factor and a multi factor ETF. For the single factor offering let us consider the largest smart beta fund - ICICI Prudential Nifty Low Vol 30 ETF. As the name suggests the scheme is a single factor offering based on low volatility. Here, the aim is to invest in a portfolio of 30 least volatile stocks from the Nifty 100 universe. Additionally, the weightages of the stocks in the index are also based on their volatility. As this is an ETF, the offering will replicate the Nifty 100 Low Volatility 30 Index. Now coming to multi factor offering, the product under consideration is the ICICI Prudential Alpha Low Vol 30 ETF. As the name suggests, the portfolio of stocks selected here will be based on two factors- Alpha and Low Volatility. The portfolio will consist of 30 stocks selected from Nifty 100 and Nifty Midcap 50. Here, through a single ETF, an investor gets the opportunity to take exposure to multiple factors.. Further, it will also aid in countering the cyclicity of single factor index strategy. The underlying index here is the Nifty Alpha Low Volatility 30.To conclude, if you are an investor looking to build a diversified portfolio, then smart beta funds which are low cost in nature can prove to be very helpful. Depending on ones investment comfort and given the long investment tenure in case of a millennial investor, smart beta ETFs can help generate better risk-adjusted returns.(The author is the Head- Product Development & Strategy, ICICI Prudential AMC.)
INDIA NEWS | Fri, 18 Jun 2021, 10:53AM IST The founder of the agency behind the viral Fevicol ad that takes a shot at Coca-Cola and Cristiano Ronaldo tells us what it takes to create marketing magic in the moment while staying true to the brand
INDIA MARKET | Fri, 18 Jun 2021, 10:52AM IST The near-term trajectory for the cement companies once again appears uncertain, but government spending in infrastructure development and policy reforms are expected to boost volumes post the easing of restrictions
INDIA NEWS | Fri, 18 Jun 2021, 10:48AM ISTKYC is a process through which a service provider, either government or private, verifies an individual's identity and other particulars linked to the person using documentation such as an Aadhaar Card.
INDIA BUSINESS | Fri, 18 Jun 2021, 10:42AM ISTThe financial assistance will include help on food security, life insurance, education support for their families, and new bicycles once lockdowns are lifted, HSBC said
INDIA NEWS | Fri, 18 Jun 2021, 10:42AM IST India was placed at 51st place, ahead of countries like New Zealand, Norway, Sweden, Denmark, Hungary, Mauritius, Pakistan, Bangladesh and Sri Lanka in terms of foreign clients' money in Swiss banks.
INDIA MARKET | Fri, 18 Jun 2021, 10:39AM ISTEquity benchmark indices swung lower during early hours on Friday tracking mixed global cues.At 10:15 am, the BSE S & P Sensex was down by 236 points or 0.45 per cent at 52,087 while the Nifty 50 slipped by 83 points or 0.53 per cent to 15,608.All sectoral indices at the National Stock Exchange were in the red with Nifty metal down by 2.9 per cent, realty by 2 per cent, PSU bank by 1.7 per cent and auto by 1.3 per cent.Among stocks, JSW Steel cracked by 2.8 per cent to Rs 676.50 per share while Tata Steel lost by 2.5 per cent and Hindalco by 1.6 per cent.ONGC, State Bank of India, Tata Motors, Coal India and Power Grid Corporation also traded lower with thin margins. However, Adani Ports, Infosys, HDFC Bank and HDFC Life traded in the green.Meanwhile, Asian shares inched higher but were set for a weekly loss as investors continued to digest comments from the US Federal Reserve projecting interest rate hikes in 2023.MSCI's broadest index of Asia Pacific shares outside Japan edged ..
INDIA NEWS | Fri, 18 Jun 2021, 10:36AM ISTChina is a "pacing challenge" for America, Defence Secretary Lloyd Austin has said, asserting that it is "really important" for the US to focus more on creating opportunities to better partner with its allies and partners in the strategically vital Indo-Pacific region. Austin told members of the Senate Appropriations Committee during a hearing on 2022 Budget Request for the Defense Department on Thursday that China was his "priority focus". "China is, in fact, our pacing challenge and it is my priority focus. You've seen that through quite frankly our actions. My first overseas trip along with Secretary Blinken was over to the Indo-Pacific region," he said. "You saw me stand up a China task force that has helped to focus the efforts of the department on making sure that we are doing the right things to create the capabilities and develop the operational concepts that we need to be successful. You've seen that through quite frankly our actions," he said. He was responding to questions about the challenges being posed by China to the US national security. Austin said China taskforce completed its work last week and he issued an internal directive, kicking off wide efforts that will, among other things, help bolster deterrence against Beijing and revitalise network of regional allies and partners and accelerate the development of cutting-edge capabilities and new operational concepts. "My first trip overseas - was out to the region, the Indo-Pacific region where I met with our allies in Japan and South Korea and further traveled to India to meet with our partner there and just as recent as two nights ago, I was in a conference with ASEAN nations and exchanging ideas about how we could better work together," he said. Austin visited India and met Prime Minister Narendra Modi at the start of his three-day visit to the country in March. "What I've done with the China taskforce is focused our efforts a bit more that in a way will create opportunities for us to better partner with allies and partners in the region, because I think that's really important," he said. The Chinese military has been flexing its muscles in the strategically vital Indo-Pacific region and is also engaged in hotly contested territorial disputes in both the South China Sea and the East China Sea. India, the US and several other world powers have been talking about the need to ensure a free, open and thriving Indo-Pacific in the backdrop of China's rising military manoeuvring in the region. China claims nearly all of the disputed South China Sea, though Taiwan, the Philippines, Brunei, Malaysia and Vietnam all claim parts of it. Beijing has built artificial islands and military installations in the South China Sea. "China and Russia are formidable adversaries and China Mr Secretary has proven to be a true pacing threat. China seeks hegemony militarily, technologically, economically, and geopolitically and is making unprecedented investments to see that to fruition," Senator Richard Shelby said. "Meanwhile, Russia is nearing the end of a massive military modernisation program that saw its defense spending increased 30 per cent in real dollars over the last 10 years," he said, adding that competition with China requires a whole of government investment.
INDIA MARKET | Fri, 18 Jun 2021, 10:36AM ISTThe Ghaziabad Police has sent a notice to the Twitter India Managing Director, asking him to join a probe in the case involving an assault on a Muslim man here, officials said Friday
INDIA NEWS | Fri, 18 Jun 2021, 10:36AM ISThad not anticipated that we would see this kind of boom in the stock market, start-ups, valuations, investment in start-ups and so much entrepreneurship! Any prediction I make now for the next 12 years could be 100 times better, says Sanjeev Bikhchandani, Co-founder, Info Edge. Based on the last 12 years, how do you think the next 12 years will be?The last 12 years have exceeded my expectations. We had not invested in Zomato yet. We were going to do that in 2010. We had just invested in Policybazaar. This was three years after our listing and the world was about to go into a financial crisis. Lehman collapsed and the economy was in serious distress. So I had not anticipated that we would see this kind of boom in the stock market, start-ups, valuations, investment in start-ups and so much entrepreneurship! Any prediction I make now for the next 12 years could be 100 times better. Will there be a market crash? We do not know but market corrections come and go but entrepreneurs go on forever. The entrepreneurs have shown great resilience in the last 12 years and may they continue to do so. Do you think today the entrepreneurs understand the need to have professionals? First of all, I am a professional too. It is just that I am a founder, Hitesh is a professional too but he is the managing director and co-promoter. We are both professionals and entrepreneurs. The current crop of entrepreneurs are also professionals and that is important. It is enough of them recognise a need to get professionals on board in senior positions of responsibility. At Info Edge there are so many people who were not there at the beginning but they have been there now for a while and they are professional managers who acts as if they are owners. Zomato and Policybazaar have broad-based management teams with many competent professionals. Increasingly, as companies grow, entrepreneurs realise that they cannot do it on their own. They need people with them and the smart ones do it well and I am happy to say that I have met enough smart entrepreneurs who are doing it very well. Do you think 12 years from now, we will all be transacting in cryptos?I am a little bit of a dinosaur. I do not understand crypto so well. I have studied economics in college and I try to recall the paper I did in Delhi University in St Stephens College on money, banking and financial institutions. The sovereign guarantee is an integral part for a currency to have long-term confidence among people. Crypto has no sovereign guarantee. Behind crypto, there is no single nation or central bank and I find it hard to believe crypto currency will continue to enjoy the confidence that it seemingly does right now. But I could be proven wrong. It would be too hard to imagine a world where we would not be buying real paintings and would be buying all our art as NFTs or non fundable tokens?Well, stranger things have happened and so I would not rule it out. But I am not entirely comfortable with the crypto concept. Do you think 12 years from now, India will have an answer to Amazon or a Tesla?It is unlikely in the case of these two specific companies. But, there are a lot of companies working on uniquely Indian problems and are coming out with uniquely Indian solutions. Look at fintech, look at financial inclusion. India is way ahead of the West in many ways. Look at making for Bharat, making for rural India, making for small town India. There are a number of entrepreneurs doing it and we have invested in a few. There will be enough large valuable companies which are uniquely Indian that will be solving big problems at scale. But do you think 12 years from now, we can have the equivalent of an Indian FAANG?These large companies become large because of the size of the economy they serve or they grow in. So American companies are really large. The Chinese economy is large and so Chinese companies are really large. European companies in the digital tech world are not so large and there are not so many of them. So if the Indian economy grows fast, you will find many large valuable companies coming out of India. So to some extent, I would say we are indexed to the size of the Indian economy and it is important to understand that. We cannot get away from that. We are joined at the hip with the Indian economy. 12 years from now, where is the Indian economy headed? Could this be Indias decade?We have to get a few things right. Covid has set us back. We have to recover from it well and nicely. We have to vaccinate everybody. We have to repeat the vaccines every year, should they be required to be repeated, which right now it looks like they will be and this is something which is of some concern. But with good execution and planning, we should be able to overcome that. Having said that, beyond that can we grow at 7-8-9% a year every year on the average for the next 10 years? That is to be seen.
INDIA MARKET | Fri, 18 Jun 2021, 10:36AM ISTThere are a lot of companies working on uniquely Indian problems and are coming out with uniquely Indian solutions. In fintech, financial inclusion, India is way ahead of the West in many ways, says the Info Edge co-founder.
INDIA BUSINESS | Fri, 18 Jun 2021, 10:36AM ISTOn the delay of shipments of its flagship Mi 11 Ultra, Jain said, Due to circumstances beyond our control, there has been a delay in the shipment of Mi11 Ultra. The team is working hard to make it available for our consumers as soon as possible.
INDIA NEWS | Fri, 18 Jun 2021, 10:36AM ISTHandset maker Xiaomi expects the market to bounce back in the July-September period but remains cautiously optimistic with the Covid-led lockdowns being lifted partially. It, however, highlighted supply chain related challenges, which led to delay of its flagship phone....we continue to remain cautiously optimistic. With all our learnings from the last 12 months, we believe we are better prepared to handle the situation. As we anticipate the market to bounce back in Q3, we have been working towards expanding our local manufacturing capabilities to meet the rising demand, Manu Jain, managing director, told ET.The company had recently onboarded two new manufacturing partners, DBG and BYD to meet product demand in the market.On the delay of shipments of its flagship Mi 11 Ultra, Jain said, Due to circumstances beyond our control, there has been a delay in the shipment of Mi11 Ultra. The team is working hard to make it available for our consumers as soon as possible.Jain also revealed that Xiaomi might not bring 5G to mid and entry-level smartphone segments, claiming that the move wont serve the purpose due to the unavailability of networks. ...in mid-range and entry level segments, smartphone specs get outdated at a faster pace. Hence, packing in advanced technologies such as 5G might not serve the purpose at the moment. Having said that, we are constantly evaluating feedback from our customers.Jain, however, added that Xiaomi is planning to launch more products in niche segments for consumers who tend to use smartphones from these segments for 12 months or more. Realme India and Europe CEO, Madhav Sheth last week said that the company was looking to focus on launching 5G smartphones in the Rs 10,000 price segment in the coming months.In the January-March quarter, share of 5G smartphone sales reached 7%, and is likely to hit 21% for the full year, as per Counterpoint Research. IDC has also estimated the share of 5G-enabled phones, out of total smartphone sales, will touch 20-25% this year. Xiaomi is also looking for more partnerships with trustworthy platforms to grow its fintech business in India. It had launched Mi Credit two year back and is working with multiple partners, primarily NBFCs or Fintechs such as Aditya Birla Finance Limited, Money View, EarlySalary, Home Credit, and CreditVidya. We want to make sure that all creditworthy customers get quick, reliable and affordable loan options. Therefore, we will be looking for more partnerships with trustworthy platforms to provide our consumers with more options that can offer them secured loans with low interest and hassle-free documentation, Jain said. Asked if the company is altering its channel strategy in the wake of ongoing Covid situation, Jain said that Xiaomi is giving an equal emphasis to the both online and offline channels. We have been maintaining an optimum balance across offline and online channels in terms of sales contribution as well. A few months back, it announced a new initiative, Grow With Mi (GWM) through which it plans to double the number of offline retail touchpoints as well as the number of exclusive retail stores in India. Currently Mi India has over 15,000 retail touchpoints, out of which over 3000 are Mi Stores that are exclusive retail stores for our Mi and Redmi products. These are spread across all states, districts and towns in India.