Retirement planning and secondary sources of income have become key financial priorities for Indians, as they look to prepare for higher inflation, health concerns, and economic slowdown risks. PGIM India Mutual Fund’s Retirement Readiness Survey shows that at present 67 per cent Indians have their retirement plan in place, compared to 49 per cent in 2020. “The pandemic was probably the factor making people realise the importance of saving and investing, leading to an increase in people planning for it.
Posts tagged Rediff
Markets end down; Sensex dips 16 points (07-11-2023)
Among the Sensex firms, Bajaj Finance, JSW Steel, Reliance Industries, Mahindra and Mahindra, ITC, Tata Consultancy Services, Wipro, HDFC Bank, Larsen and Toubro and Bharti Airtel were the major laggards. Sun Pharma, NTPC, State Bank of India, IndusInd Bank and Axis Bank were the major gainers.
Byju’s in talks with buyers to sell Epic for $450 mn (07-11-2023)
Byju’s is in talks with three-four strategic buyers, including Joffre Capital Ltd and language learning platform Duolingo, to sell one of its key assets, US-based digital reading platform Epic, for about $400-$450 million, according to sources. With this, the beleaguered edtech firm wants to meet various commitments, including repaying its entire $1.2 billion term loan B (TLB) within six months. “The binding offers of the bidders to acquire Epic are expected to come in the next few weeks after the due diligence is complete,” said a person familiar with the matter.
Global coworking player WeWork files for bankruptcy (07-11-2023)
Global coworking player WeWork has filed for bankruptcy in the US and has also started a comprehensive reorganisation and restructuring process to cut debt and strengthen its balance sheet. NYSE-listed WeWork Inc said that its centres located outside the US and Canada will not be part of this proceedings. Softbank-backed WeWork Inc, which was once valued at $47 billion, had reported a net loss of $696 million in the first half of this year.
Analysts slash SBI Card’s earnings estimates (07-11-2023)
Poor earnings show in the September quarter (Q2FY24), with hints of likely weakness in asset quality going ahead, forced analysts to cut earnings estimates of SBI Cards and Payment Services (SBI Card). On the bourses, shares of the State bank of India arm tumbled 7.4 per cent to Rs 732 apiece on the BSE in the intraday trade as investors factord in near-term concerns. Analysts at Motilal Oswal Financial Services, for instance, slashed SBI Card earnings by 8 per cent and 10 per cent for FY24 and FY25, respectively, as they expect the company to face pesistent magin pressure.
RIL gains 2% post Q2 results; brokerages remain upbeat (07-11-2023)
Shares of Reliance Industries (RIL) traded 2 per cent higher at Rs 2,310.10 on the BSE in intra-day trade in an otherwise volatile market after the company reported a 27.4 per cent year-on-year (YoY) growth in its consolidated net profit at Rs 17,394 crore for the September quarter (Q2FY24). While revenue growth of the company was flattish YoY at Rs 2.32 trillion, the profit rose on the back of operational improvement across most segments, especially higher profits in the O2C (oil-to-chemicals) and oil and gas businesses, as well as the retail business. “Strong operational and financial contribution from all business segments has helped Reliance deliver another quarter of robust growth,” said Mukesh Ambani, chairman and managing director of the company.
‘2 to 3 years before small car market revives’ (07-11-2023)
‘It will take some more time because the affordability of these cars have changed drastically.’
Stock Picks: 10 Value Bets For Rich Payoffs (07-11-2023)
10 non-bank and non-finance stocks from the BSE500 Index universe that offer an optimal blend of low valuation, reasonably robust revenue and earnings growth in recent quarters, a strong balance sheet, and most importantly, positive cash flow from their operations.
Investors richer by Rs 7.95 lakh cr as stocks rally (06-11-2023)
Investors’ wealth climbed Rs 7.95 lakh crore in three days of market rally amid positive trends in global markets. The 30-share BSE Sensex jumped 594.91 points or 0.92 per cent to 64,958.69. During the day, the benchmark surged 628.76 points or 0.97 per cent to 64,992.54.
India has high income, wealth inequality: UNDP (06-11-2023)
India has emerged among top countries with high income and wealth inequality but the share of the population living in multidimensional poverty fell from 25 to 15 per cent between 2015-16 and 2019-21, the UNDP said in a new report. The 2024 Asia-Pacific Human Development Report, launched on Monday, paints a qualified picture of long-term progress but also persistent disparity and widespread disruption, foreseeing a turbulent development landscape and urgently calling for new directions to boost human development. In India, between 2000 and 2022, per capita income soared from $442 to $2,389.