INDIA BUSINESS | Wed, 22 Sep 2021, 4:34PM ISTThe deal for St. John's Terminal site in New York City, which Google currently leases, will complete in the first quarter of next year, Chief Financial Officer Ruth Porat said
INDIA BUSINESS | Wed, 22 Sep 2021, 3:27PM ISTAccording to the terms of reference of the committee, it will develop four NCFs for school education, early childhood care and education, teacher education and adult education, keeping in focus all the recommendations of NEP-2020 related to these four areas for proposing curriculum reforms
INDIA BUSINESS | Wed, 22 Sep 2021, 3:10PM ISTFlagship phones sold in Europe by China's smartphone giant Xiaomi Corp have a built-in ability to detect and censor terms such as "Free Tibet", "Long live Taiwan independence" or "democracy movement", Lithuania's state-run cybersecurity body said
INDIA MARKET | Wed, 22 Sep 2021, 2:59PM ISTAt 09:20 hours, the 30-share BSE index was trading 77.5 points or 0.13 per cent higher at 59,082.82, and the broader NSE Nifty was up 23 points or 0.13 per cent to 17,585.60.
INDIA BUSINESS | Wed, 22 Sep 2021, 2:47PM ISTCBSE, as a special measure for the academic session 2021-22, has decided that neither the examination fees nor the registration fees will be charged by the Board from the students who have lost their parents due to COVID-19
INDIA MARKET | Wed, 22 Sep 2021, 2:35PM ISTOn September 21, the 30-share Sensex ended 514.34 points or 0.88 per cent higher at 59,005.27 and the NSE Nifty zoomed 165.10 points or 0.95 per cent to 17,562.
INDIA BUSINESS | Wed, 22 Sep 2021, 2:14PM ISTThe blue-uniformed workers gathered outside what is Ford's car manufacturing and engine-making facility in Gujarat and said the plant's closure planned for the year-end would lead to the loss of their livelihoods
INDIA MARKET | Wed, 22 Sep 2021, 11:10AM ISTCoronavirus LIVE updates: India's active Covid-19 cases drop to 301,989. Delhi reported 39 Covid-19 cases, Maharashtra 3,131 cases in the last 24 hours. Stay tuned for corona updates
INDIA NEWS | Wed, 22 Sep 2021, 11:05AM ISTThe deal is good for Zee as also for Punit Goenka, who will be there for the next five years. He will be serving the merged entity as he has been serving Zee earlier, says Ashwin Patil, Senior Fundamental Analyst, LKP Advisory. On the merger of Zee Entertainment with Sony IndiaThis was on the cards for the last two to three years. On and off discussions were going on with Sony Pictures, Reliance etc. The merger with Sony has been finalised and finally this news is coming out. Zee will be in minority with less than 50% or 47% to be exact share in the merged entity and Sony will have an upper hand with close to 52-53% stake in the entity. I would say it is good for Zee as also for Punit Goenka, who will be there for the next five years. He will be serving the merged entity as he has been serving Zee earlier. The merged entity will be the number one player in the entertainment space with more than 35% to 40% market share. Of this, Zee has about 18-19% share. Sony has a very big portfolio and has sports channels. Zee will also have good access to Sonys various genre while Sony will have access to Zees regional channels. The merged entity will be a formidable host to take on its competitors. Financially, we will have to take a close look at it. Will this consolidation rerate the entire media sector now?India has four major broadcasting channels or players -- Star, Colours, Zee and Sony. Out of these four, two are getting merged. Sun TV is also there but that is in the regional markets of South India. So the new entity is definitely going to be a big player on the global platform as well as in India. Definitely, it should be something for the investors to look at from Zee point of view because Sony is not listed in India. I think that it is a well designed merger. Financially we need to look at it because we need to have some clarity on its top line, how the merged entity will look like in profitability terms etc. Prima facie, it is a good kind of a merger.
INDIA MARKET | Wed, 22 Sep 2021, 11:03AM ISTBalkrishna Industries hit a new high of Rs 2,656.95, up 5 per cent on the BSE in intra-day trade, surpassing its previous high of Rs 2,558.15 touched on August 4, 2021
INDIA BUSINESS | Wed, 22 Sep 2021, 10:58AM ISTFollowing a successful decade as Mastercard CEO, Ajay Banga had moved to the executive chairman role in February this year to facilitate a smooth transition
INDIA NEWS | Wed, 22 Sep 2021, 10:58AM ISTIts time for us to revisit a story from Mahabharat. Guru Dronacharya was responsible for teaching both the Pandavs and Kauravs. Duryodhan accused him of favouring Arjun, to prove him wrong he conducted a test by placing a wooden bird on a tree branch and asked each of them to shoot its eye through the arrow. Before his disciples could shoot, he asked all of them a question- what do you see?. Yudhistar replied, I see the wooden bird, the branch, the tree, the leaves moving and the other birds. Every other student gave similar replies. However, Arjun said, I can only see the eye of the bird. This ability of Dhyana (focus) helped Arjun to win Draupadi by succeeding in the Matsya Vedh (piercing fish eye). The lesson is similar while trying to build a serious net worth for ones family over the long term. We all are constantly bombarded by noise (superfluous and unneeded information), the challenge is to keep our focus on the controllable and to keep the emphasis on whats relevant for ones family.The last few months have seen a spate of equity NFOs (New Fund Offers) in the mutual fund industry, most of which have seen pretty decent collections. The numbers have undeniably been aided by the positive client sentiment owing to the continuing upswing in the equity markets. During current times, the challenges lie in, a) staying strategic on the asset allocation (i.e. keeping it goal-driven), b) temper expectations on returns, c) continue having a long term view on equity investments and, d) continue with periodic reviews on the portfolio. Investing in NFOs therefore may not be a necessity while building portfolios. It mostly does not get anything unique to the investing table. Existing funds can readily (and with a transparent track record) meet the future needs as per the impending goals. While building the portfolio on the equity side, be clear in investing monies which will be required for meeting goals at least 6-7 years. The probability of making money keeps going up the longer we stay invested in, in equity funds. In addition, staggering ones investments over a period of time (one year or eighteen months) works better for volatile market situations (largely the reality of equity markets). New investors are better off avoiding sector/theme- based funds as they tend to witness higher volatility and could therefore be accompanied by higher returns in comparison to diversified equity funds. Amongst the categories- Multicap and Flexi cap funds, be mindful of what they denote. While Multicap funds need to have at least 25% of allocation each in large cap, mid cap and small cap stocks, the newly found Flexi cap category only has to adhere to being at least 65% invested in equity instruments and enjoy the liberty to be allocated across different market caps in varying proportions. On the other hand, large & mid cap funds need to be at least 35% invested in each of large and mid-cap companies.The decision to invest in Multicap, Flexi cap or Large & mid cap categories should not be based on the current market situation but on the future goals and risk appetite. Alternatively, for a simple-to-understand equity asset allocation strategy which is equally effective if not more, one can look at allocating money across pure large cap, mid-caps and small cap funds. For a DIY investor it is a good idea to contain the exposure to mid-cap and small cap funds to 25-30% of the equity portfolio. Large cap funds can be replaced by index funds, choose the one with a low tracking error. Also, invest around 7-10% of your equity portfolio in international funds, it will help i) diversify meaningfully across geographies, ii) allow exposure to companies which may not have presence in the country, and iii) it will help one benefit from depreciation of Rupees vs USD on an annual basis.Eventually, constructing an equity portfolio should be more a function of ones impending goals (their dates of need and priority) and risk appetite. Also, the most anxiety-free way to build wealth over the long-term is keeping the faith, cutting the noise outside and investing in a diligent way. In fact, the following serenity quote beautifully sums up the appropriate attitude which we need to adapt towards investing, God grant me the serenity to accept the things I cannot change, the courage to change the things I can, and the wisdom to know the difference. Investing is not about forecasting returns but being ready for every and any contingency thus ensuring that money is a source of joy and peace not anxiety and heart-burn. Reaching equanimity with money is not about the quantum of money, but what it represents. (The writer is founder partner of Srujan Financial Services LLP (MFD- Mutual Fund Distributor) and author of Why greed is great!!!)
INDIA NEWS | Wed, 22 Sep 2021, 10:52AM IST The company has sold 340 homes with an area of more than half a million square feet on the first day of launch of the second phase of its project Godrej Woods in Noida.
INDIA NEWS | Wed, 22 Sep 2021, 10:50AM ISTThe worldwide semiconductor market is expected to grow by 17.3 per cent in 2021 versus 10.8 per cent in the previous calendar year, according to research firm IDC. The industry will see normalisation and balance by the middle of 2022, with a potential for overcapacity in 2023 as larger scale capacity expansions begin to come online towards the end of 2022, an IDC statement said. Growth is driven by mobile phones, notebooks, servers, automotive, smart home, gaming, wearables, and Wi-Fi access points, with increased memory pricing. IC shortages are also expected to continue easing through fourth quarter of 2021 as capacity additions accelerate, it said. Despite the current Covid-19 wave, consumption remains healthy. IDC reports that dedicated foundries have been allocated for the rest of the year, with capacity utilisation at nearly 100 per cent. "Front-end capacity remains tight but fabless suppliers are getting the production they need from their foundry partner", the statement said. Front-end manufacturing is starting to meet demand in third quarter of 2021. However, larger issues and shortages will remain in back-end manufacturing and materials. According to IDC, 5G semiconductor revenues will increase by 128 per cent, with total mobile phone semiconductors expected to grow by 28.5 per cent. Game consoles, smart home, and wearables will grow 34 per cent, 20 per cent and 21 per cent, respectively. Automotive semiconductor revenues will also increase by 22.8 per cent as shortages are mitigated by year-end. Notebook semiconductor revenues will grow by 11.8 per cent, while X86 Server semi revenues will increase by 24.6 per cent, IDC said. Semiconductor wafer prices increased in the first half of 2021 and IDC expects increases to continue for the rest of 2021 due to material costs and opportunity cost in mature process technologies. Overall, IDC predicts the semiconductor market to reach USD 600 billion by 2025 - representing a CAGR of 5.3 per cent through the forecast period. This is higher than the typical 3-4 per cent mature growth seen historically.
INDIA NEWS | Wed, 22 Sep 2021, 10:50AM ISTFrom the view of equity markets, it is impossible to time the market and only in hindsight, it is known whether we are at all-time highs or have a significant runway from here.
INDIA NEWS | Wed, 22 Sep 2021, 10:49AM IST Paras Defence IPO: In the grey market, the share was trading at Rs 365-375, a premium of Rs 190-200 or 108.6-114.3 percent over the upper price band of Rs 175
INDIA MARKET | Wed, 22 Sep 2021, 10:47AM ISTShare Market News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity benchmark indices BSE Sensex and Nifty 50 were trading with gains on Wednesday. Nifty Media Index up 9%, Bank Nifty was down in red.
INDIA MARKET | Wed, 22 Sep 2021, 10:46AM ISTGreaves Cotton Ltd. key Products/Revenue Segments include Engines, Service Income, Other Operating Revenue and Export Incentives for the year ending 31-Mar-2021.
INDIA COMMODITIES | Wed, 22 Sep 2021, 10:45AM ISTThe speculation ahead of the US FOMC and uncertainty over China's Evergrande debt crisis has sent mixed cues to the market boosting buying in gold. The dollar index and US bond yields were steady awaiting the US FOMC outcome.
INDIA MARKET | Wed, 22 Sep 2021, 10:44AM ISTIn a Shenzhen exchange filing, Hengda Real Estate Group Co Ltd said the company would make a coupon payment on its Shenzhen-traded 5.8% September 2025 bond on time on Thursday
INDIA BUSINESS | Wed, 22 Sep 2021, 10:40AM ISTGodrej Properties said it sold 340 homes with an area of more than half a million square feet on the first day of launch, making it one of the most successful launches in the country in recent times
INDIA MARKET | Wed, 22 Sep 2021, 10:38AM ISTReliance Industries Ltd., incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 1626074.98 Crore) operating in Diversified sector.
INDIA NEWS | Wed, 22 Sep 2021, 10:34AM ISTIndia on Monday said that it will resume export of surplus COVID-19 vaccines in the fourth quarter of 2021 under the ''Vaccine Maitri'' programme and to meet its commitment to the COVAX global pool.
INDIA MARKET | Wed, 22 Sep 2021, 10:28AM ISTWhat has helped ITCs cause is its underperformance to the benchmark indices and the FMCG index over the past year. While Nifty50 is up more than 25 per cent in 2021 so far, shares of the cigarette-to-shampoo company have risen 15 per cent.
INDIA MARKET | Wed, 22 Sep 2021, 10:24AM ISTBharat Petroleum Corporation Ltd., incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 89763.68 Crore) operating in Gas & Petroleum sector.
INDIA MARKET | Wed, 22 Sep 2021, 10:23AM ISTCoronavirus LIVE updates: India's active Covid-19 cases drop to 301,989. Delhi reported 39 Covid-19 cases, Maharashtra 3,131 cases in the last 24 hours. Stay tuned for corona updates
INDIA MARKET | Wed, 22 Sep 2021, 10:22AM ISTCentral banks in Nigeria and Ghana have partnered with foreign financial tech companies to create digital versions of their currencies, joining the global train of countries exploring the initiative