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MF News
Market News
PGIM India Mutual Fund launches PGIM India CRISIL IBX Gilt Index - Apr 2028 Fund
The investment objective of the scheme is to generate returns that correspond to the total returns of the securities as represented by the CRISIL IBX Gilt Index - April 2028 (before fees and expenses), subject to tracking errors.
2023-02-03T10:55:41+05:30
Mirae Asset Mutual Fund launches Mirae Asset Flexi Cap Fund
The flexi cap fund will invest across market capitalisation—large cap, mid cap and small cap, thus offering a large investment horizon to help investors capture the growth curves across sectors.
2023-02-03T10:48:54+05:30
Hold a judicious mix of assets to ride out the ups and downs, unpredictability
Restrictive Rates or Rate Cuts, what will happen in 2023? Investors, analysts, and money managers seem to be divided over whether monetary conditions in the world’s largest economy would stay tight in 2023 till inflation comes down or loosen up to support slowing growth.
2023-02-03T10:17:10+05:30
Could Fed pause rate hikes in March or at least May? Mahendra Jajoo explains
"There is a little bit of disconnect between the market and the Fed because the market is watching the inflation numbers coming down and the market is also factoring in the fact that the factors which were contributing to inflation have also begun to ease. For example, the natural gas prices which have gone to a high of $9 plus are now at about $2.5."
2023-02-03T09:58:08+05:30
Spooked by Adani pack, FIIs find comfort in safe consumption stocks: Sunil Subramaniam
“Internationally, there is going to be a slowdown but India is going to be a growth economy. And from that point of view, I do not think that growth not getting respect right now in today's market is going to be a very long lasting phenomenon. There is a temporary reallocation into safety.â€
2023-02-03T09:09:43+05:30
Budget 2023: Will taxation on high value insurance be positive for debt mutual funds?
​Mutual fund managers believe that the high net worth individuals can use debt mutual funds instead of these insurance products.
2023-02-02T14:09:54+05:30
How your mutual funds performed after Budget 2023?
Most equity mutual fund categories lost 0.01-2.68% on the budget day. Only the technology fund category gained 0.67%.
2023-02-02T13:56:33+05:30
Nippon India Mutual Fund launches Nifty SDL Plus G-Sec – Jun 2029 Maturity 70:30 Index Fund
The scheme will have two Plans: Regular and Direct. Each Plan offers growth option and income distribution cum capital withdrawal (IDCW) option. Index shall mature on June 29, 2029 and hence has a defined maturity date.
2023-02-02T12:19:57+05:30
New income tax regime: Will ELSS mutual funds lose their charm?
Financial advisors say most new taxpayers are likely to opt for the new regime as it allows them to pay taxes easily, without elaborate tax planning. The old regime calls for meticulous planning through the year if one wants to avoid the last minute rush.
2023-02-02T11:32:13+05:30
Budget 2023: Market to remain volatile till relative valuation of India is more comfortable: S Naren
“FII exodus has come out of the relative valuation of India versus the world and this Budget was not something that could have completely changed sentiment because the government has to do fiscal consolidation. They have to stimulate growth and they have done both. This is the reason why the immediate reaction has been positive but the Budget cannot change market valuations.â€
2023-02-01T16:13:00+05:30
Mutual funds have low exposure to Adani companies
Adani Enterprises and Adani Port are constituents of the Nifty 50, so they are automatically in portfolios of some exchange-traded funds (ETFs) and index funds. But active funds have very little exposure to Adani stocks and are largely unscathed by their fall.
2023-02-01T15:27:54+05:30
Five prominent mutual fund managers decode Budget 2023
"The Union Budget has a dual focus on growth and fiscal consolidation. The fiscal calculation is based on a nominal GDP growth projection of 10.5% which is credible. At the same time, the fiscal deficit target at 5.9% is largely in line with our estimates while the borrowing amount is slightly below our expectations."
2023-02-01T14:42:21+05:30
Budget 2023: Debt mutual funds to gain from government’s lower fiscal deficit, borrowing numbers
To finance the fiscal deficit in 2023-24, the net market borrowings from dated securities are estimated at Rs 11.8 lakh crore.
2023-02-01T14:29:51+05:30
Sebi to be empowered to enforce norms, standards for education at NISM: FM
Globally, Sebi-run NISM is one of the largest financial market certifying institutions, issuing over 20 programme certificates covering various critical market functions such as sales, advice, operations and compliance across financial market products such as equities, derivatives of equity, currency, interest rates and commodities, mutual funds and pensions.
2023-02-01T13:36:53+05:30
Budget 2023: Will the government's infra push help infrastructure mutual funds?
Currently, there are 17 mutual fund schemes that invest in the infrastructure sector. Toppers in this category have offered 13-19% returns in one year.
2023-02-01T13:19:21+05:30
How will Budget 2023 impact your mutual funds?
The finance minister did not grant anything from the long wishlist in the budget. Sure, all the spending on infrastructure and sops to MSME would help economic growth and boost the sentiment in the stock market.
2023-02-01T13:03:11+05:30
Redemption of equity mutual funds to be faster
Earlier when you placed a redemption request before the cut-off time on Monday, you would get money on Thursday in your bank account. With the new system, you will get the money a day earlier — on Wednesday.
2023-02-01T09:00:18+05:30
Mutual funds witnessed significantly lower inflows during April-November 2022: Economic Survey
As per AMFI data, growth/equity-oriented schemes and solution-oriented schemes witnessed inflows of Rs 1.53 lakh crore and Rs 1,554 crore respectively.
2023-01-31T16:10:58+05:30
Axis AMC looks to garner Rs 3,000 crore from business cycles fund
The open-ended equity scheme will follow business cycle-based investing theme, the fund house said on Tuesday.
2023-01-31T15:55:03+05:30
Axis Mutual Fund launches Axis Business Cycles Fund
According to the fund house, the domestic economy is in an interesting phase right now. The onset of the Covid 19 pandemic made matters more challenging amid the NBFC crisis pre-pandemic.
2023-01-31T11:18:28+05:30
Do your mutual funds have investments in battered Adani stocks?
ETMutualFunds looked at data and found out that several mutual funds had investments in the Adani Group companies like Adani Enterprise, Adani Green Energy, Adani Ports & Special Economic Zone (SEZ), Adani Power Ltd., Adani Total Gas., Adani Transmission, Adani Wilmar, Ambuja Cement, and ACC Ltd.
2023-01-31T10:21:24+05:30
Why Target Maturity Funds are ideal for mutual fund investors at this juncture
Inflation in India went up in sync with the rest of the world and in a bid to tame inflation, the Reserve Bank of India (RBI) has raised the policy repo rate by 225 bps from 4% since May 2022 to 6.25% to 6.25% as of December 2022.
2023-01-31T09:43:02+05:30
Sandeep Tandon on Adani effect on market and Budget impact
“If we look at the Quant Fear Index, in the last two or three days, when this fall unfolded in a big way, it did not spike up to that extent to say reversal. It can settle down in the next few trading sessions. We are closer to that event which means the downside may not be very significant from the current levels.â€
2023-01-30T12:51:29+05:30
Do I need to make changes to my mutual fund portfolio?
If you have any mutual fund queries, message on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.
2023-01-30T11:48:57+05:30
Will Budget 2023 reduce LTCG tax on gold funds and ETFs?
To encourage retail investors to invest in gold through the mutual fund route rather than buying physical gold, AMFI had proposed that LTCG on Gold ETFs and Gold Fund of Funds should be brought down in the Union Budget 2023.
2023-01-30T10:27:08+05:30
Franklin India Bluechip Fund: Fund review
While the fund made a strong comeback in 2021, it slipped again in 2022, lagging the index sharply. This leaves its long term return profile weak, needing a lot of catch-up with index and peers.
2023-01-30T08:45:57+05:30
Has your value mutual fund delivered outsized returns?
Funds with diluted value bias have failed to make most of the current uptick.
2023-01-30T06:30:00+05:30
Equity mutual fund to shift to T+2 settlement cycle from Feb 1
From Friday, Indian equity markets moved to a T+1 settlement cycle for all stocks, shortening the settlement cycle by a day and making the availability of funds a day sooner than at present.
2023-01-27T19:59:33+05:30
Edelweiss Mutual Fund launches short duration index fund
Edelweiss CRISIL IBX 50:50 Gilt Plus SDL Short Duration Index Fund will replicate CRISIL IBX 50:50 Gilt Plus SDL Short Duration Index by investing in a diversified portfolio of Indian Government Bonds and SDLs, subject to tracking errors.
2023-01-27T13:50:45+05:30
Will these mutual funds help me to retire at 45?
If you have any mutual fund queries, message on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.
2023-01-27T11:49:45+05:30
ITI Mutual Fund launches ITI Flexi Cap Fund
The minimum application amount is Rs 5,000 and in multiples of Rs 1 thereafter. The fund will invest predominantly in equity and equity related instruments across market capitalisation- large cap, mid cap and small cap companies.
2023-01-27T11:41:45+05:30
Why investors should add flexi cap funds to their portfolio
This belief has translated to flexicap category being the largest equity investment category in the given scheme classification of mutual funds. The category has garnered approximately Rs 2.49 lakh crores of AUM which is in 1.25 crore folios.
2023-01-27T10:35:47+05:30
DLSS in Budget 2023? Should you invest in DLSS or ELSS?
Several fund managers believe that time is right for the government to introduce a debt mutual fund option under Section 80C. AMFI says it will also help to channelise household savings into the bond market and deepen the bond market.
2023-01-27T10:05:49+05:30
Right mutual funds for a 51-year-old investor
If you have any mutual fund queries, message on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.
2023-01-25T14:24:07+05:30
28 equity schemes consistently beat their benchmarks in 3, 5, 7, and 10 years
The purpose of this was to see how many schemes consistently beat their benchmarks in different periods like three, five, seven, and 10 years. Mutual fund advisors often ask investors to choose schemes that have consistently beaten their benchmarks over a long period of time.
2023-01-25T11:58:15+05:30
Will Budget 2023 bring in tax parity between mutual funds and ULIPs?
Returns from equity mutual funds are taxed depending on the period of holding the investment. ULIPs are not taxed as they are considered insurance products.
2023-01-25T11:23:15+05:30
Should you invest in Equity Savings Funds?
Conservative investors who are moving from deposits to mutual funds or those worried about a full-equity portfolio’s volatility and wanting a small allocation to stocks can consider equity savings funds.
2023-01-25T08:54:00+05:30
HDFC AMC Q3 Results: Profit up 3% YoY to Rs 369.5 crore
As of December 31, 2022, 66% of the company’s total monthly average AUM is contributed by individual investors compared to 58% for the industry.In an exchange filing, the company said that it had a market share of 12.8% of the individual monthly average AUM in the industry, making it one of the most preferred choices of individual investors.
2023-01-24T16:11:21+05:30
Manish Gunwani appointed as Head-equities at IDFC Mutual Fund
Gunwani also served as the Deputy CIO (Equities) at ICICI Prudential AMC. Gunwani graduated from IIT Madras and has a postgraduate diploma in management from IIM Bangalore.
2023-01-24T15:38:13+05:30
3 ways to reduce financial anxiety in 2023
Investors must focus on the processes and controlling the controllable and not worry too much about other things, for e.g., macroeconomic factors like interest rates, inflation and crude oil prices which are beyond one’s control.
2023-01-24T14:44:13+05:30
Fiscal deficit an important variable to track in Budget 2023, say mutual fund managers
According to fund managers, the government will most likely meet its fiscal deficit aim of 6.4% of GDP in FY23 aided by robust tax revenue growth and higher than budgeted growth in nominal GDP.
2023-01-24T14:19:37+05:30
Nippon India ETF Nifty PSU Bank BeES, Kotak Nifty PSU Bank ETF offer over 50% returns in one year
Most of the schemes in the category had high exposure in private banks. Among PSU banks, the best performing schemes had investments in Bank of Baroda, State Bank of India, and Punjab National Bank.
2023-01-24T10:33:11+05:30
Budget 2023 should bring tax parity between mutual funds and NPS
To help mutual funds penetrate further into smaller towns and cater to investors long term goal like retirement, here are a few recommendations made by Association of Mutual Funds in India (AMFI) for the Budget 2023.
2023-01-24T10:28:03+05:30
IDFC Mutual Fund in Talks to Hire Manish Gunwani as CIO
The fund house managed Rs 79,000 crore in fixed income and Rs 28,360 crore in equity as on December 31, 2022.
2023-01-24T09:36:05+05:30
Gold ETF Inflow Slumps in 2022 on Rising Prices
"A rising price (of gold) puts some pressure on investors, with people holding back investments."
2023-01-23T10:41:29+05:30
Gold and silver funds offer double-digit returns. Should you invest?
There are a total 24 schemes investing in gold at the moment. Silver funds are a new entrant to the mutual fund market. There are 12 schemes in the category, including ETFs and FOFs.
2023-01-23T10:18:40+05:30
Fund review: PGIM India Midcap Opportunities Fund
We examine the key fundamentals of the fund, its portfolio and performance to help you make an informed investment decision.
2023-01-23T06:30:00+05:30
The curious case of Quant AMC mutual funds: Can it sustain the results for the long term?
A radically different investing style has put the fund house in the spotlight.
2023-01-23T06:30:00+05:30
Insurers want NPS tax exemption for their pension schemes, too
"There is a case to make pension plans from insurance companies on a par with NPS which has a separate limit. Globally, we have seen that separate tax saving limits for insurance goes a long way in increasing penetration and India is no exception," said Tarun Chugh, CEO Bajaj Allianz Life Insurance.
2023-01-23T00:20:23+05:30
Good time to move some funds to high-yielding bonds, says DSP Mutual Fund's Ramakrishnan
Three Indian issuers that are rated A- and below are scheduled to raise funds next week via shorter tenor bonds, indicating an improved investor appetite for such notes. The rates for these papers are in the range of 10.50-14.00%.
2023-01-20T15:52:04+05:30
Disinvestment is a complex process, especially when handing over management control: DIPAM Secy
2023-02-04T19:30:37+05:30
If we get into the Global Bonds club, it would be with our 'Dhotis and Sarees', says Finance Secretary T V Somanathan
2023-02-04T15:45:47+05:30
3 stocks Rajesh Palviya is betting on for next week
If at all stock crosses above 580 level then it will again resume its uptrend which we have witnessed earlier part of this year. So looking at the overall setup, we are bullish on SBI also with a stop loss of 530. Bank of Baroda is another stock which we feel that upside can be continued towards 181-195 zone, one can buy and hold this stock also with stop loss of 150.
2023-02-04T15:27:07+05:30
FM on Adani row: Regulators will take own actions
"​It'll be regulators who'll do their job. RBI made statement, prior to that banks, LIC came out & told about their exposure (to Adani group). Regulators independent of govt, they're left to themselves to do what is appropriate so market is well regulated. So the regulators will do their jobs," said Sitharaman in a press conference.
2023-02-04T15:22:56+05:30
Adani flagship shelves $122 million bond plan after market rout
The flagship firm of Indian billionaire Gautam Adani’s empire had planned the public note issuance for January, working with Edelweiss Financial Services Ltd., AK Capital, JM Financial, and Trust Capital, Bloomberg had reported in December. But activity has now stopped, according to the people, who asked not to be identified because the matter is private.
2023-02-04T15:04:50+05:30
Budget 2023: The Amrit Kaal Budget is evolving
This will help lenders in assessing risk of each entity or individual and thus enhance efficiency in lending and significantly increase the market size for credit. Second, Central Data Processing Centre would help in ease of doing business in relation to the Companies Act.
2023-02-04T14:42:43+05:30
ETMarkets Management Talk: Meghmani Finechem likely to end FY23 with topline of Rs 2,200 cr, says CMD Maulik Patel
“We believe that we will end FY23 with a topline of around Rs 2,200 crore and EBITDA margin would be about 28%,†said Maulik Patel, chairman and managing director, in an interview with ETMarkets.
2023-02-04T14:18:52+05:30
2 sectors Kunj Bansal is bullish on for medium term
But given the way the numbers have been improving, I think the numbers for PSU banks are likely to continue to improve. At some point of time, whenever we see stability in the market, we will see the buying interest coming back in the PSU banks and as a result, we can see them start going up again.
2023-02-04T14:06:08+05:30
Budget: How Sitharaman smartly balanced economic stimulus with fiscal discipline
But stiff targets can serve as pressure for officials to find the enthusiasm for letting go of public assets. Sadly, that is no longer the case. This point is important not just for the fiscal math, but the opportunity cost of lost efficiency in the economy due to the continued presence of public sector enterprises in non-strategic sectors.
2023-02-04T14:01:45+05:30
Adani stocks tracker: After Rs 9 lakh crore loss in 7 days, what should investors do?
Later on in the evening hours, global ratings agency S&P Global Ratings downgraded the outlook on Adani Ports and Special Economic Zone and Adani Electricity to “negative†from “stableâ€, citing that the risks and concerns triggered by Hindenburg Research report have not been factored into its ratings.
2023-02-04T13:49:02+05:30
What does govt spend most of its money on? Take a look
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2023-02-04T12:56:20+05:30
Missed Q3 earnings this week? Here's a snapshot
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2023-02-04T12:33:19+05:30
Real Estate sector looks attractive! Mahindra Lifespace & Brigade Enterprises top bets
We expect residential demand to remain unabated despite further rate hike expectations, as the industry continues to witness long-term pent-up demand and affordability will remain better than the pre-Covid level.
2023-02-04T12:16:33+05:30
NFTs coming to Bitcoin sparks handwringing about crypto purists
While Bitcoin miners, who process and validate data on the blockchain, welcome the invention since it can boost fees for them, critics are concerned an influx of new trading volume may crowd out other financial transactions.
2023-02-04T12:09:43+05:30
Budget 2023: Is it the end of the 80C investment industry?
Insurance companies have already started facing the heat of this unforeseen announcement. The proposal is going to have an impact of 10-12% in the top-line of the Life Insurance companies.
2023-02-04T12:00:25+05:30
Sitharaman's capex salvo may spark rally in these 15 stocks
2023-02-04T11:21:33+05:30
Anxieties on Adani Group are on but the uncertainty on Budget has reversed into a boon for markets
However, the new saga of Adani group is escalating the ambiguity adding questions on the India growth story. The nation’s largest listed group, which accounted for 7% of India’s total market capitalisation has corrected to 3.7%.
2023-02-04T11:01:44+05:30
Gold falls over 3% in a week; yellow metal staring at $1830 as bears take control
This notion had played a great role in pushing the Greenback sharply lower in the last few months. However, this speculation of incremental differential rates working against the Dollar was sabotaged by the ECB and the BoE as these two Central Banks, as per their respective pressers after their monetary policy decisions, seemed to indicate that even their terminal rates were well in sight.
2023-02-04T10:41:07+05:30
Fed seen hiking policy rate above 5% as job gains surge
Powell has said he does not expect inflation to fall fast enough to allow the Fed to cut rates at all this year. Friday's Labor Department report did show slower growth in average hourly earnings to a 4.4% pace, from an upwardly revised 4.8% in December.
2023-02-04T10:25:22+05:30
How Adani selloff stacks up against the biggest stock collapses
The short position put Ackman at odds with fellow billionaire, Carl Icahn, who became the company’s biggest holder. Icahn went on to defend the company, which sells weight-loss shakes and vitamins, and assailed Ackman — who exited his position by 201
2023-02-04T10:20:55+05:30
Inside the 19-hour meltdown that junked Adani’s share sale
Gautam Adani chose to forgo the short-term victory of nailing the follow-on offer to protect his longer term relationships with marquee investors who otherwise were staring at some embarrassing mark-to-market losses on the sums they had committed.
2023-02-04T10:14:41+05:30
Mind Over Money: How Vipassana helps this CEO to relieve stress, improve mindfulness & mental wellbeing
Research also showed that if mental health issues like stress, anxiety and depression are addressed upfront, then allied health conditions can also be resolved. So as an organisation we offer mental health counselling to colleagues.
2023-02-04T10:05:56+05:30
Rollercoaster week sees 11 BSE 500 stocks give double-digit returns, ITC among them
The government hiked the National Calamity Contingent Duty (NCCD) on cigarettes by 16%. NCCD accounts for about 10% of overall taxes on cigarettes. Analysts expect the hike in the duty to give room for ITC to raise prices by about 1-3% across categories, which will subsequently drive its profitability.
2023-02-04T10:01:12+05:30
5 world market themes for the week ahead
Then inflation data stunned investors by shooting to a 33-year peak, defying the RBA's most aggressive tightening campaign in modern history. Macro readings shocked the other way as retail sales fell the most since the darkest pandemic days and house prices suffered their biggest drop since at least 1980.
2023-02-04T09:49:01+05:30
Wall Street ends down after stunning jobs growth raises Fed questions
The jobs report "was an incredible surprise and it raises a lot of questions about what the Fed is going to do next," said Kristina Hooper, chief global market strategist at Invesco. "What I think is causing some of
2023-02-04T09:44:26+05:30
Wall Street Week Ahead: Signs of market strength cheer U.S. stocks bulls
When the S&P 500 has advanced in January, the market has gone on to rise in the subsequent February-December period 83% of the time, with an average 11-month gain of over 11%, according to an analysis of data going back to World War II by CFRA Research.
2023-02-04T09:34:26+05:30
What P-notes are and how they can boost investments in country
2023-02-04T08:40:43+05:30
How Hindenburg left Rs 10 lakh crore-hole in pockets of Adani bulls
2023-02-04T07:00:00+05:30
Foxconn, Vedanta plan tech tie-up with STM
The Vedanta-Foxconn consortium is one of the five applicants seeking government incentives under a $10-billion package announced in December 2021 to promote domestic semiconductor manufacturing.
2023-02-04T06:57:10+05:30
Adani Group may shelve plans to raise $500 m via overseas bonds
Partial payment through cash, prepayment of interest, push out maturities to 2025-26, additional collateral for loans against shares being worked out.
2023-02-04T06:40:28+05:30
Paytm Q3 Results: Net loss narrows to Rs 392 cr, co turns profitable at EBITDA level
The reported operating profit improved by Rs 424 crore from the year-ago period, and margin improved to 2% of revenue from -27% year ago, due to sustained improvement in contribution profit and strong operating leverage.
2023-02-03T22:37:09+05:30
Paytm Q3 consolidated loss narrows to Rs 392 crore
Paytm reported a positive EBITDA before ESOP cost (earnings before interest, taxes, depreciation, amortisation and employee stock option costs) of Rs 31 crore. This metric was negative Rs 393 crore in December quarter last year.
2023-02-03T22:34:55+05:30
Hindenburg bet against Adani puzzles rival US short sellers
With the Adani Group, there are added complications: the shareholding is concentrated in the hands of the Adani family and its shares do not trade on exchanges abroad
2023-02-03T22:26:48+05:30
Ford's pain underscores uneven impact of two-year auto chip shortage
Ford said on Thursday it left billions of dollars on the table that were within its control and blamed a 100,000 vehicle shortfall in its fourth-quarter volume mostly on the inability to obtain enough chips
2023-02-03T22:20:15+05:30
Sebi mulls to provide option to AIFs to carry forward unliquidated investments to new schemes
At end of the tenure of a scheme beyond two years and extended tenure of Large Value Funds for Accredited Investors (LVF), Sebi proposed that the AIF manager may close the existing scheme and transfer the unliquidated investments to a new scheme, subject to obtaining the consent of 75 per cent of investors by value
2023-02-03T22:06:05+05:30
ITC Q3 Results: Net profit jumps 21% YoY to Rs 5,031 cr, revenue up 17.5%
The company's board declared an interim dividend of Rs 6 per share for FY24.According to ITC, for the quarter ended December 31, 2022 it had earned an operational revenue of Rs 17,265.48 crore (Q3FY22, Rs 16,806.89 crore) and a net profit of Rs 5,031.01 crore (Rs 4,156.20 crore)
2023-02-03T21:37:52+05:30
Big tech earnings: Apple, Amazon and Alphabet post disappointing results
2023-02-03T21:12:28+05:30
Two entities offload GMR Airports Infra shares worth Rs 330 cr via block deal
According to block deal data available with the BSE, two entities -- C/D Investors Fund LP and H/D Investors Fund LP -- sold a total of 8,86,58,600 shares, amounting to a combined stake of 1.5 per cent in the company
2023-02-03T21:00:39+05:30
Oil surges after strong U.S. jobs data
The U.S. central bank on Wednesday scaled back to a milder rate increase than those over the past year, but policymakers also projected that "ongoing increases" in borrowing costs would be needed.Increases in interest rates in 2023 are likely to weigh on the U.S. and European economies, boosting fears of an economic slowdown that is highly likely to dent global crude oil demand, said Priyanka Sachdeva, market analyst at Phillip Nova
2023-02-03T20:55:23+05:30
U.S. Treasury makes more Tesla, Ford, GM EVs eligible for tax credits
Treasury had said in December it would use Environmental Protection Agency (EPA) CAFE standards to determine whether a vehicle was a car or SUV for EV tax credit purposes but said Friday it will now use the consumer-facing EPA Fuel Economy Labeling standard ... this change will allow crossover vehicles that share similar features to be treated consistently
2023-02-03T20:51:54+05:30
Rating agencies, partner help ease pressure of Adani
This is after a over USD 100-billion rout in value of group stock since the US short seller Hindenburg Research accused Adani group of stock manipulation and accounting fraud. Adani Group has repeatedly denied any wrongdoing and has threatened to sue Hindenburg
2023-02-03T20:46:32+05:30
Sebi allows promoters to use ETF route to meet minimum public shareholding norm
The regulator has allowed promoters and promoter group entities to sell shares to exchange traded funds to meet the public shareholding norms. This provided promoters are selling a maximum 5% of the paid-up equity share capital of the listed entity.
2023-02-03T20:40:18+05:30
Hindenburg Effect: S&P Global downgrades outlook on 2 Adani cos to 'negative'
The company has responded to the allegations and also decided to return funds from a fully subscribed $2.4-billion offer of shares in the promoters' flagship company Adani Enterprises Ltd due to market volatility
2023-02-03T20:34:46+05:30
Marico Q3 Results: PAT rises 6% to Rs 328 crore
The international business sustained its healthy growth momentum with constant currency growth of 8%. Each of the markets exhibited strength amidst macroeconomic uncertainty and currency devaluation headwinds," it said.India business delivered a turnover of Rs 1,851 crore, up 2% on a YoY basis. Meanwhile, international business posted a turnover of Rs 619 crore with 8% constant currency growth.
2023-02-03T20:28:56+05:30
Dollar slips as euro picks up ahead of U.S. jobs data
The U.S. currency dipped against the euro, reversing earlier gains. The euro was last up 0.17% to $1.093, remaining far above September's 20-year low of $0.953.The Federal Reserve's Open Market Committee (FOMC) on Wednesday raised interest rates by 25 basis points to a range of 4.5% to 4.75%, a softer approach than the previous increase of 50 bps
2023-02-03T20:23:46+05:30
ECB policymakers converging on end-point for rate hikes
The central bank for the 20 countries that share the euro has raised interest rates by a combined 3 percentage points since July, the most in its history, and on Thursday promised another big move in March.Yet markets still pared bets on further rate hikes overnight, interpreting the bank's lack of guidance on subsequent moves as evidence its commitment to fighting inflation is waning
2023-02-03T20:18:49+05:30
Wall St falls as jobs data fans higher rate fears
Apple Inc forecast another revenue decline at the start of the year, but its shares reversed course to trade 3% higher
2023-02-03T20:15:01+05:30
Stocks, bonds tumble as stellar US jobs report may force Fed rethink
The MSCI index of global shares fell 0.3%, having hit its highest level since August on Thursday in a rebound buoyed by optimism that central banks are close to the end of their aggressive rate hiking cycles.The keenly-watched U.S. nonfarm payrolls report showed U.S. employers added 517,000 new workers in January, vastly overshooting expectations of economists polled by Reuters for a 185,000 gain
2023-02-03T20:12:46+05:30
Market Watch: Make or break level for Nifty at 17353
2023-02-03T20:09:10+05:30
Fed seen likely to lift rates above 5% after strong jobs report
That was the read from traders of interest-rate futures on Friday after the U.S. Labor Department reported employers added more than half a million jobs last month, far more than expected. Prices in those contracts fell sharply, and now reflect a better than even chance that the Fed will keep raising interest rates to the 5%-5.25% range by June, if not by May
2023-02-03T20:08:37+05:30