Mutual funds have broadly stepped up their bets in longer-duration government bonds in 2024 as the likelihood of interest rates being lowered – even if with a slight delay – brings the prospect of reaping capital gains on sovereign debt. An analysis of public factsheets released by five large mutual funds shows a significant increase in modified duration and average maturity of gilt funds, indicating confidence that interest rates, and consequently bond yields are heading lower in coming months.
Hyundai remitting IPO proceeds weighs on rupee (22-10-2024)
Outflows caused by Hyundai Motor routing funds to its parent in South Korea after the IPO also put pressure on the rupee, dealers said. The automaker is listing its stock in the biggest-ever IPO in the country – and the biggest initial share sale in the world in 2024.
Hyundai India to list today, runaway gains unlikely (22-10-2024)
As of Monday evening, the unofficial grey market premium (GMP) – the price over the IPO price in the unofficial market that investors pay for the shares before listing – of Hyundai bounced to ₹90, or 5% of the IPO price of ₹1,960. It had fallen to a discount of ₹30 on Friday.
Weak Q2, concerns over asset quality drag private banks (21-10-2024)
Kotak Mahindra Bank dived 4.7% and RBL Bank plunged 13.8%. HDFC Bank shares advanced 2.6%, emerging as sole gainer in Bank Nifty index, which shed 0.3%. Benchmark Nifty ended 0.3% lower at 24,781 in choppy trades.
Ward Christensen, Early Visionary of Social Media, Dies at 78 (21-10-2024)
Housebound during a 1978 blizzard, he and a friend began devising the first computer bulletin board, a forerunner of online services like Reddit, TikTok and Facebook.
Hyundai Motor India Limited – HMIL (21-10-2024)
Sometimes you have to take a step back to view things from a bird’s-eye perspective.
Once the IPO is out, and seeing couple of quarters of results we can clearly decide.
Plus by the time IPO is launched the dust will clear around —-
Manappuram Finance (21-10-2024)
During the ED fiasco they had an investor call i believe the same or next day. Manappuram should have done a call this time as well. VP Nandkumar should also give confidence to the market by increasing promoter stake.
Olivia Nuzzi and New York Magazine Part Ways After RFK Jr. Relationship (21-10-2024)
Ms. Nuzzi, a political writer for the magazine, had been on leave since she disclosed a personal relationship with Robert F. Kennedy Jr. last month.
Vietnam Elects Luong Cuong as President, Reviving Power-Sharing Arrangement (21-10-2024)
The move restores a “four pillar” government structure that divides top-level duties to avoid the rise of a single strongman.
How Trump’s Stop at McDonald’s Was Covered by Partisan Media (21-10-2024)
Former President Donald J. Trump’s campaign event at a McDonalds in Pennsylvania was described by right-leaning outlets as a brilliant move. Left-leaning publications called it weird.