CASH
SC adjourns hearing on TMC leader Partha Chatterjee's bail plea in cash-for-jobs money laundering case
The Supreme Court adjourns TMC leader Partha Chatterjee's bail plea hearing in the cash-for-jobs scam citing a review of custody files. Chatterjee has been in jail for 2.5 years. The ED opposes bail, highlighting the serious charges and ongoing investigation with significant monetary recoveries.
We grant bail and next day you become Minister: Supreme Court to Senthil Balaji
The Supreme Court expressed concern over Senthil Balaji's appointment as a Tamil Nadu Minister soon after being granted bail in a money laundering case. The court will investigate if witnesses are under pressure due to his new ministerial position while affirming the bail granted earlier.
FY25 should be one of strongest years; expect 1-1.5% margin expansion a year: CAMS CEO
Anuj Kumar, Director & CEO of CAMS, highlights that despite recent market corrections, the company expects FY25 to be one of its strongest years. CAMS continues to dominate by winning 70-80% of new bids, focusing on execution and margin expansion, and anticipates significant revenue and profit growth driven by mutual funds and associated business lines.
Consumption hit, but outlook stays positive: CARE Ratings CEO Mehul Pandya
India's economic slowdown may impact growth if persistent. CARE Ratings CEO Mehul Pandya highlights the importance of monitoring the consumption sector and potential US tariff impacts on exports. Despite challenges, positive outlooks for sectors like hospitality and infrastructure remain. The Adani Group's situation and its handling of foreign currency borrowings are also under observation.
Adani issue: Primary consideration for investors should be returns and efficacy of cash flow: Abizer Diwanji
Investors are advised to focus on returns and cash flow efficiency when making decisions about Adani. While some institutional investors, particularly from the US, may have different considerations, Japanese banks continue to support Adani due to their focus on India's infrastructure projects. Different compulsions may influence decisions, but financial aspects remain primary.
Bharti Airtel shares soar 7% after ICICI Securities upgrades stock to buy
Bharti Airtel shares surged 7% after ICICI Securities upgraded the stock to 'Buy' with a target price of Rs 1,875. The brokerage cited a remarkable recovery in key parameters and expects this trend to continue. The upgrade is based on Bharti Airtel's solid fundamentals and potential for valuation re-rating.
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K Raheja Investment pays Rs 68.73 lakh to settle REIT norms violation case with Sebi
K Raheja Investment Managers on Thursday settled with capital markets regulator Sebi a case on alleged violation of REIT rules by paying Rs 68.73 lakh towards settlement fee in the matter of Mindspace Business Parks REIT. K Raheja Investment Managers LLP (now known as K Raheja Corp Investment Managers Pvt Ltd) is the manager of Mindspace Business Parks REIT.
Adani wipeout hurts but won't derail foreign investor faith in India
Worries of a wider spillover from bribery charges against the Adani Group will hurt sentiment in India but not the long-term outlook, global investors say, as they wager one of the world's best-performing markets will get back on track next year.
The purpose of a banking system is to serve people ¡ª we need metrics to understand their financial health: Michael J. Hsu
Michael J. Hsu, Acting Comptroller of the Currency, highlights the importance of financial literacy and inclusion. He discusses the challenges faced by unbanked and underbanked Americans, emphasizing the need for people-centric metrics of financial health. Hsu also addresses the potential benefits and risks of AI in finance, advocating for ethical development and usage.
Zepto's Aadit Palicha rejects Shaadi.com CEO Anupam Mittal's bride proposal, conversation goes viral
A witty billboard featuring Shaadi.com and Zepto went viral this wedding season. Zepto offered to deliver Manyavar attire in 10 minutes. Shaadi.com humorously countered, stating finding a groom takes longer. The brands' founders engaged in playful banter online. Other brands like Faasos and CashKaro joined the fun.
Viral video: Fast & Furious, Meerut style ¨C Groom becomes action hero to recover stolen cash garland
A Meerut groom chased a thief who stole cash from his pre-wedding ceremony. The thief snatched the garland and fled in a mini-truck. The groom hopped on a motorcycle and pursued the thief on the highway. He bravely jumped onto the moving truck and retrieved the garland. The family chose not to press charges. The incident's video went viral.
Adani US Indictment: There's enough cash to cover 30 months of debt payments
The Adani Group may need to reduce investments due to limited access to global capital markets. Domestic banks may also hesitate to provide new loans. The group has a substantial debt, but lenders believe they have sufficient cash reserves for repayment. Public sector banks and financial institutions hold a significant portion of the group's debt.
Adani touts financial muscle, shows can grow without external debt
The Adani Group showcased its strong financial performance to investors. The company highlighted its growing profits and cash flow. It said that it has reduced its dependence on debt for growth. The group has invested significantly in recent months. It has enough cash to cover its debt obligations. The Adani Group's earnings and cash flow are stable.
Delayed government payments hit cos' operating cash flows in H1
Discretionary, materials and industrials sectors were hit the hardest, facing weaker cash flows alongside rising capex. The slowdown in OCF is largely attributed to delayed government payments, according to analysts.
This tech company offers cash rewards to employees for dating each other - The reason will surprise you
Insta360, a Shenzhen-based tech company, has launched a unique initiative offering cash incentives to employees who go on dates. Employees earn 66 yuan (around Rs 770) for posting about a single colleague on the company¡¯s internal dating platform, with the reward increasing to 1,000 yuan (Rs 11,650) if the relationship lasts for three months. The campaign aims to promote workplace happiness and address China's declining marriage and birth rates.
How paying women Rs 1,500 won an election in one of India's richest states
India's ruling BJP party used cash handouts to women to secure a landslide victory in Maharashtra's state elections. This $18 monthly payment targeted underprivileged women, effectively swaying votes in a state marked by significant income inequality. The strategy's success raises concerns about the rising cost of elections and its impact on future political spending.
After Maha boost, BJP wants 'Ladki Behna' like direct bank transfer scheme for Delhi polls
The BJP is strategizing for the Delhi elections by emulating its Maharashtra model, centering on welfare initiatives like cash transfers for women. This mirrors a similar proposal by the ruling AAP, though yet unimplemented. The BJP also aims to address job security and wages, particularly within the unorganized sector, alongside student scholarships.
Adani touts financial muscle, shows can grow without external debt
The Adani Group showcased its strong financial performance to investors. The conglomerate highlighted its growing profits and cash reserves. It stated its ability to fund expansion internally. The group emphasized reduced reliance on external debt. It presented a healthy cash flow to cover debt obligations. The Adani Group reassured investors about its financial stability.
Zepto founder on $5-bn valuation, IPO plans & how quick commerce is creating more jobs than Indian Railways
Zepto CEO Aadit Palicha envisions quick commerce as a massive job creator, surpassing even Indian Railways. He refutes claims of harming local stores, citing data that shows quick commerce is expanding the market alongside a growing economy. Palicha emphasizes Zepto's focus on profitability and disciplined capital allocation, aiming for an IPO potentially next year.
Petrobras approves $3.4 billion in extra dividends, $111 billion strategic plan
Petrobras has announced an extraordinary dividend payout of $3.4 billion to shareholders, resolving a dispute that arose earlier this year. The company also unveiled a revised $111 billion investment plan for 2025-2029, lowering the minimum cash level requirement. The plan prioritizes exploration and production activities while increasing investments in low-carbon initiatives.
BJP's Maharashtra Assembly election bid hit by cash distribution allegations against Vinod Tawde
BJP's Vinod Tawde was accused of distributing cash to voters in Virar by Bahujan Vikas Aghadi members, hours before the Maharashtra polls. Tawde denied the allegations, claiming he was only giving instructions. The Election Commission seized over ?9 lakh and filed FIRs against Tawde and BVA candidate Kshitij Thakur for violating election code of conduct.
BSE500 earnings downgraded by 3%; H2FY25 asking rate high: Nuvama
India's corporate earnings for Q2FY25 showed an 8% YoY PAT growth for the BSE500, excluding oil marketing companies. However, weak demand and fading margin tailwinds have led to a 3% cut in FY25 EPS estimates. Cement, metals, and energy sectors faced challenges. The outlook for H2FY25 hinges on government spending and rural demand recovery.
Shiv Sena workers offering cash for voter IDs in Chhatrapati Sambhajinagar, claims Danve
Shiv Sena (UBT) leader Ambadas Danve has accused Shiv Sena workers of offering cash for voter IDs in Maharashtra's Chhatrapati Sambhajinagar. Danve alleged that people associated with the Shiv Sena and BJP were paying between Rs 1,000 and Rs 2,000 for voter IDs and inking fingers. He claimed police inaction on complaints and alleged assistance to the ruling party's candidate.
Mutual funds were sitting on nearly Rs 2 lakh crore cash in October
In October 2024, MFs held a total cash pile of Rs 1.80 lakh crore, or 5.05% of their total AUM, slightly down from Rs 1.86 lakh crore in September. The total equity AUM for October was Rs 35.72 lakh crore. Among the 43 MFs, SBI Mutual Fund had the largest cash holding at Rs 31,126 crore, representing 4.46% of its total AUM.
Bundles of currency notes recovered from heap of cow dung in Odisha
Police in Odisha's Balasore district have recovered a significant sum of money hidden in a cow dung heap. The cash, exceeding Rs 20 lakh, was allegedly stolen from a Hyderabad company by Gopal Behera, who then sent it to his village. Behera and his brother-in-law, who facilitated the transfer, are currently evading authorities.
CFM ARC wins bid for defunct Carnival Cinemas
This follows CFM offering ?78 crore to take over Carnival's ?1,290 crore debt from rival JC Flowers ARC, which did not get any challenging bid by the October 31 deadline, people familiar with the matter said.
FPIs record unprecedented Rs 1.13 lakh crore sell-off in October, remain buyers in cash market
The duality in the behavior of FPIs is explained by Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, stating that the primary market issues are mostly at fair valuations whereas the benchmark indices are trading at elevated valuations.
Tata Technologies shares jump nearly 2% after Q2 earnings
Tata Technologies' shares rose by 1.7% to Rs 1,016.85 on BSE after reporting a 2% decline in net profit to Rs 157 crore for Q2 FY24. Revenue increased by 2% to Rs 1,296 crore, with EBITDA rising 10%, improving margins to 18.2%. The company maintains a strong order book and expects better performance in H2 FY24.
Do you know how to calculate a stock¡¯s intrinsic value? Learn it from experts in online workshop
ETMarkets is offering a four-day workshop on Value and Valuation, featuring experienced finance professionals Himanshu Goel and Manoj Goel. The workshop will delve into value investing principles and their real-world applications, using case studies of Tata Motors and Zomato.
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