BUSINESS
Mutual funds weightage to utilities at 35 month high
Utilities’ weight jumped to a 35-month high of 3.8 per cent in in Sep’23. Healthcare’s weight climbed for the fourth consecutive month to a 17-month high of 6.8 per cent. Private Banks’ weight moderated for the third consecutive month to 18.9 per cent. Oil and gas weight declined for the fifth consecutive month in Sep’23 to 5.7 per cent, the lowest since Nov'15.
Maruti Suzuki opts for shares route to acquire 100% equity in Suzuki’s Gujarat ops
The issue will be taken up at the company’s Board of Directors meeting, scheduled on October 17, India’s leading car maker said in a stock exchange filing on Thursday. The decision saw the company’s share price going up in the morning session at BSE on Thursday.
CRED eyes mutual fund startup Kuvera amid Groww-Zerodha market dominance: Report
The acquisition talks are currently on and “a deal could be finalised within weeks,” reports TechCrunch, citing a source.
US sues bankrupt crypto platform Voyager’s CEO, permanently bans company
The Commission said late on Thursday it is also filing a lawsuit against its former CEO, Stephen Ehrlich, for falsely claiming that customers’ accounts were insured by the Federal Deposit Insurance Corporation (FDIC) and were “safe", even as the company was approaching an eventual bankruptcy.
Cyber protection company Acronis lays off employees amid restructuring
“We will prioritise projects and initiatives that immediately benefit our partners: Best-in-class product capabilities, reliability and performance, top-notch technical and business education, and increased sales and marketing support,” Acronis said in a blog post.
14 NBFCs surrender licences to RBI
These NBFCs include Shivam Hire Purchase & Finvest, Sun Finlease (Gujarat), Chitrakoot Motor Finance and Alkan Fiscal Services among others. As many as 10 of these NBFCs have surrendered their licence due to exit from the non-banking financial institution (NBFI) business.
Inflation levels may remain elevated owing to domestic pressures, global uncertainties: Sitharaman
The ongoing Israel-Palestine conflict coupled with the Ukraine-Russia war are a double whammy for global economy. Domestic consumption and investment demand will continue to drive India's growth, Sitharaman said while speaking at the 108th Meeting of the Development Committee Plenary in Marrakech, Morocco.
RBI fines Paytm Payments Bank for breach of norms
The RBI said that a special scrutiny report and a comprehensive system audit report has revealed non-compliance with norms by Paytm Payments Bank on the following grounds: The bank failed to identify beneficial owner in respect of entities onboarded by it for providing payout services.
Domestic air passengers annual traffic volume surged to 29.10%: DGCA
This impressive growth represents an annual increase of 29.10 per cent and a noteworthy monthly growth rate of 18.26 per cent. According to data released by the Directorate General of Civil Aviation (DGCA), during September, a total of 246 passenger related complaints were received by the scheduled domestic airlines.
Inflation fell to 3-month low of 5% in Sep
Food inflation, which accounts for close to half of the overall consumer price index (CPI), slowed to 6.56 per cent in September from 9.94 per cent in August. There was a sharp correction in the prices of vegetables, such as tomatoes and onions.
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