Mid-Cap and Small-Cap mutual funds see inflows of Rs 30,350 Crore in H1 FY25
Oct 20, 2024Mid-cap and small-cap mutual funds have attracted inflows of Rs 30,350 crore in the first half of FY25 due to impressive returns, despite regulatory concerns. Investor confidence remains high, driven by strong performance and rising numbers of folios, with assets growing 63% year-on-year.
Market capitalisation of 4 of top-10 most valued cos increases Rs 81,151 crore last week
Oct 20, 2024Despite the BSE benchmark's decline of 156.61 points last week, ICICI Bank, HDFC Bank, State Bank of India, and Bharti Airtel collectively added Rs 81,151.31 crore to their valuations. However, Reliance Industries, TCS, Infosys, Hindustan Unilever, ITC, and LIC saw a combined erosion of Rs 76,622.05 crore.
Afcons Infrastructure Ltd to launch IPO on October 25, aims to raise Rs 5,430 crore
Oct 19, 2024Afcons Infrastructure Ltd will launch its IPO on October 25, aiming to raise up to Rs 5,430 crore through fresh shares and an offer for sale by its promoter. The company plans to use Rs 1,000 crore from fresh issue proceeds for capital expenditure, working capital, and debt repayment.
GoM proposes to slash GST on water bottles, bicycles; raise rate on shoes, watches
Oct 19, 2024The Group of Ministers (GoM) on GST rate rationalisation proposed reducing GST on packaged drinking water bottles, bicycles, and exercise notebooks to 5%. They suggested raising GST on high-end shoes and wrist watches to 28%. These changes could generate additional revenue of Rs 22,000 crore, aiming to balance revenue while offering relief on essential items.
GST on term life and health insurance premiums may be exempted
Oct 19, 2024The Group of Ministers (GoM) decides to recommend waiving GST on health and term life insurance premiums for senior citizens, with a focus on providing financial relief. The GST Council will finalize the decision, but premiums over Rs 5 lakh for non-senior citizens will still attract 18% GST.
Kotak Mahindra Bank's profit increase 5% in Q2 FY25
Oct 19, 2024Kotak Mahindra Bank reported a 5% increase in standalone profit for Q2 ended September 2024, with a total profit of Rs 3,344 crore. The bank's total income rose to Rs 15,900 crore, with NII growing by 11%, while gross NPAs reduced to 1.49%. Consolidated net profit grew by 13% to Rs 5,044 crore.
HDFC Bank Q2 profit jumps 5% to Rs 16,821 crore
Oct 19, 2024HDFC Bank Ltd., India's largest private sector lender, recorded a 5% increase in net profit for the quarter ending September 30, 2021, reaching Rs 16,821 crore. Net interest income grew by 10% to Rs 30,114 crore. However, the bank's asset quality slightly deteriorated with gross NPA rising to 1.36%.
'Self-Taught Evaluator': Meta releases new AI tools for autonomous AI development
Oct 19, 2024Meta unveils innovative AI models, including the 'Self-Taught Evaluator,' which minimizes human involvement in AI development by using AI-generated data. Other releases include updates to image-identification models and tools for faster response times in large language models. These advancements could lead to more autonomous AI systems.
'RBI not police': Governor Shaktikanta Das on action against financial market
Oct 18, 2024RBI governor Shaktikanta Das emphasized the central bank's vigilant monitoring of financial markets, asserting it acts decisively rather than as a watchdog. Addressing the India Credit Forum, Das noted RBI's recent directive halting loans from Navi Finserv and three other NBFCs due to supervisory concerns. He also assured that India's growth remains strong, with inflation moderating within target range.
India ranks second globally in generative AI adoption: Report
Oct 18, 2024India ranks second globally in adopting Generative AI platforms, excelling in content editing and educational tools. The country accounts for 12% of global AI usage in content editing and is third in productivity tools. While personal assistant apps lag, there’s potential for growth with localized solutions and better monetization strategies.
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