Indian markets remained bearish for the the second consecutive week ended May 13 as the benchmark share indices lost nearly 4 percent. Persistent worries over rising inflation, possibility of further rate hikes by global central bank, China lockdown and weakening rupee kept the investors on the edge. During the last week, BSE Sensex declined 2,041.96 points (3.72 percent) to close at 52,793.62, while the Nifty50 shed 629.05 points (3.83 percent) to end at 15,782.20 levels. However, in the month of May Sensex and Nifty have lost more than 7 percent each. During the week gone by, all the sectoral indices were in the red with BSE Metal and Power indices falling 13 percent each. BSE Telecom index shed 6.7 percent and Realty index declined 5.8 percent. In broader market, the BSE Mid-cap index lost 5.6 percent, Small-cap index shed 6.5 percent and Large-cap Index declined 4.4 percent. In absence of any major event, market participants will be closely eyeing the performance of … [Read more...] about Dalal Street Week Ahead | LIC listing, earnings among 10 key factors that will keep traders busy
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Share to Twitter Share to Linkedin When it comes to being home to a large number of the world’s richest people, it was already a tough year for mainland China on the 2022 Forbes Billionaires List unveiled in early April. Their ranks thinned to 539 members from a record 626 a year earlier amid slowing economic growth and stock price declines in the world’s most populous nation. The loss of wealth among mainland China’s richest has become even worse since the list was published, however. At least another 97 listees among that group of 539 mainlander members are now below the $1 billion threshold, based on preliminary estimates using Tuesday’s global stock prices. The culprits: Covid and rising interest rates. China’s choice of “zero-Covid” policies to combat the pandemic has led to lockdowns and logistics woes affecting millions across the country, most stunningly in Shanghai, a global business hub with a population of 26 million. China’s Covid … [Read more...] about More Than One In Six Mainland Chinese On 2022 Forbes Billionaires List Are Now Below The Cut
The governance scores of family firms in the ESG (Environment, Social and Governance) rating, as per Reuters and Sustainalytics data, were found to be lower than those of other firms. (Photo by Akil Mazumder/Pexels) SOUGATA RAY, NUPUR PAVAN BANG & NAVNEET BHATNAGAR The debate whether companies should be governed with the sole objective of maximising shareholder value (shareholder capitalism as reflected in the shareholder primacy model advocated by Prof. Milton Friedman) or balancing the interests of multiple stakeholders (stakeholder capitalism as reflected in stakeholder primacy model advocated by Prof. R. Edward Freeman), including shareholders, has been raging for several decades. Climate disasters, rapidly rising inequalities and COVID-19 have perhaps put to rest the shareholder vs. stakeholder primacy debate and tilted the balance firmly in favour of the latter. Modern corporations, irrespective of ownership, have an obligation to act in the interests of … [Read more...] about Shareholder capitalism to stakeholder capitalism: Are Indian family firms prepared?
Share to Twitter Share to Linkedin A lawsuit filed Saturday by New York Attorney General Eric T. Schneiderman alleges that Donald Trump defrauded more than 5,000 people of $40 million, handed over for what was supposed to be the opportunity to learn Trump’s real estate investment magic at his for-profit training program, Trump University. The suit also names The Trump Entrepreneur Institute—previously known as Trump University LLC—and Michael Sexton, former president of the institution. Beginning in 2005, Trump University offered a program that began with a free introductory 90-minute presentation promising to teach the secrets that helped build his real estate empire. This was, according to the suit, no more than a lengthy promotion for a three-day, $1,500 seminar. The three-day program, in turn, was used to plug “elite” courses that cost anywhere from $10,000 to $35,000. Schneiderman takes particular aim at Trump U.’s ads, which featured the … [Read more...] about Lawsuit Alleges Trump Defrauded ‘Students’ In Seminars Meant To Teach Investing Wisdom
Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Anand Rathi's research report on Suven Pharmaceuticals Suven’s pharma CDMO sales (down 21% q/q to Rs2bn) were less than expected as the contribution from one Covid molecule wasn’t as huge as expected. Specialty CDMO clocked sales of a good Rs1.3bn (up 30% q/q); formulation sales were Rs184m (up 28% q/q). The gross margin was steady at 69-70%. Staff costs and other expenses were higher (more transportation and distribution costs) at respectively 8.6% (avg. 6-6.5%) and 17.4% of sales (vs. avg. 14-15%). This translated to a 43% EBITDA margin. The higher tax rate (43% vs avg. 25-33%) eroded profit, which was Rs917m (42% y/y, adj. for the share of profit from rising pharma). Outlook We slightly trim our earnings estimate, factoring in higher formulations sales (boosted from … [Read more...] about Buy Suven Pharmaceuticals; target of Rs 627: Anand Rathi
Share to Twitter Share to Linkedin Supercars, and their even more extreme hypercar successors, are the pinnacle of what internal combustion can deliver. Vehicles like the Bugatti Veyron and Chiron, as well as competitors from Swedish Koenigsegg and American SSC, have traded blows over the last couple of decades as the fastest production cars in the world. But they are being eclipsed by a new genre of supercars: electric ones. The Lamborghini Miura is often cited as the first supercar, and it still stands up today as one of the most beautiful vehicles ever made. Perhaps the Jaguar XK120 from 1949 or the Mercedes 300SL Gullwing of 1955 deserve to be considered the first supercars instead. Either way, these are exotic vehicles, intended to combine design excellence with extreme performance. Successors in this genre include the Lamborghini Countach, Porsche 959, Ferrari F40 and McLaren F1. All held the position of “fastest production car in the world”, until the … [Read more...] about Is The Future Of Supercars Electric?
Share to Twitter Share to Linkedin This week’s Current Climate , which every Saturday brings you the latest news about the business of sustainability. Sign up to get it in your inbox every week. T hanks to all you loyal readers of the Current Climate newsletter. This week, we’re starting some changes to the format in an effort to bring you some more focused news on the business of sustainability. To that end, we’re introducing some new sections to the newsletter, including one that focuses on venture funding, M&A, contracts and other deals happening in the industry. I’m also pleased to announce that my colleague, Alan Ohnsman , is joining me as a co-writer of the newsletter. Alan will be bringing news to you every week about the world of green transportation, from electric cars to the hydrogen economy. Let us know what you think about the changes, and what other types of news you might be interested in knowing about. But without … [Read more...] about AI For Sustainability, The Billionaire Betting Against Coal And Tesla Facing Lower China Sales
By and large, the seniors in the family, if sources are to go by, have ensured that they have minimal differences among themselves. (Photo by Joey Kyber from Pexels) The Hindu, TVS and Murugappa are iconic names in Chennai. They have something in common. Each one of them has four wings (rather families) within. In a larger family business conglomerate such as these, frictions aren't uncommon. But how do they stay together despite that? In the case of the TVS, the four families had for long an informal arrangement. Each one managed the companies they were running independently though there were cross-holdings between the companies managed by each family. Recently, they got together to legalise their informal divisions. Accordingly, cross-holdings were removed and each family has been allowed to manage the companies they are running hitherto independently. That was a smooth transition. Read also: CUMI buys Rhodius at an enterprise value of Rs 464 crore While that … [Read more...] about How does Murugappa Group keep everyone in the family happy?
Share to Twitter Share to Linkedin Taiwan, home to many of the world’s largest technology companies, reported 68,732 new domestically transmitted cases of Covid-19 on Sunday, the highest daily total since the pandemic began and more than quadruple the 15,033 local cases disclosed on April 30, according to the Central News Agency. Nineteen Covid deaths were reported — all patients were in their 70s to 90s, of which eight had not been vaccinated, CNA said on Sunday. Of the 672,998 domestic cases reported in Taiwan from Jan. 1 to May 14, 1,151 involved moderate infections and 294 were severe, accounting for 0.17 percent and 0.04 percent of the total; the rest were mild or asymptomatic, the news agency said. Against that backdrop, the Taiwan External Trade Development Council on Wednesday reconfirmed earlier announced plans for its big annual international technology trade show Computex to open for in-person participation May 24-27 in Taipei after two years of … [Read more...] about Taiwan Covid Cases Hit A Daily Record 68,732; Computex Tech Fair Affirms In-Person Return
Share to Twitter Share to Linkedin The IPO of Campus Activewear, which sells more shoes than the likes of Nike and Adidas in India, propels its founder into the billionaires club. I n a volatile week for its stock market, India has minted a new billionaire. Hari Krishan Agarwal , 66, founder of Delhi-based Campus Activewear , entered the three-comma club after the stellar IPO of his sports shoes company. Shares of Campus Activewear listed at a handsome 23% premium to the IPO price. Agarwal’s 74% stake is now worth around $1 billion. The $9 billion Indian footwear industry has spawned three billionaires in recent years. Delhi-based brothers Mukand Lal Dua and Ramesh Kumar Dua, who run the $350 million (revenue) Relaxo Footwear, which sells everything from casual sandals to formal shoes; and Rafique Malik , who took his $107 million (revenue), Mumbai-based Metro Brands public only last December. (Though Metro listed at a 13% discount). … [Read more...] about Selling Sports Shoes For Under $10 Turned This Shoemaker Into India’s Newest Billionaire