Asian stocks set to slide as Nvidia disappoints
The outlook threatened to cool an AI frenzy that has transformed Nvidia into the world’s second-most-valuable company. The chipmaker is the key beneficiary of a race to upgrade data centers to handle AI software, and its sales forecasts have become a barometer for that spending boom.
Fusion Finance has penalty relief, but some pain points remain
The stock of Fusion Finance (formerly Fusion Microfinance) has gained over 9% in three trading sessions to August 28 following the company’s announcement on exchanges that the Odisha State Tax department has dropped the show cause notice issued in May directing the company to pay nearly Rs 1.2 crore towards penalty for the excess claim […]
US Fed’s rate cut signal lifts Nifty IT to record highs
Nifty’s IT index jumped 1.6% to record levels on Wednesday, while the benchmark indices ended 0.1% higher in a rollercoaster trading session. LTI Mindtree jumped 6.31%, followed by Wipro which gained 3.71%. L&T Technology Services, Coforge, Infosys, Persistent and Mphasis were up 1.3-3.6%.
Want to make UPI and RuPay truly global: RBI governor Shaktikanta Das
RBI governor Shaktikanta Das announced plans to make UPI and RuPay global to improve cross-border payment systems. The central bank aims to create UPI-like infrastructure overseas and link UPI with other countries’ fast payment systems.
Interlinking fast payments comes with risk burden: US Fed official
Interlinking fast payment systems is widely seen as a means to enhance global cross-border payments and reduce costs, but Christopher Waller said that it could pose an increased risk management burden for banks participating in it.
Lower public float of 10% allowed for companies listing on IFSC bourses
The government issued a notification stipulating a lower public shareholding requirement for companies listing on stock exchanges at the International Financial Services Centre (IFSC)-a deemed foreign jurisdiction-a move aimed at wooing firms to list there.
Sebi proposes overhaul of merchant banker norms
As on July 31, there are 224 merchant bankers registered with Sebi. Their activities include handling public issuances, international offerings such as global depository receipts, underwriting issues and corporate advisory.
Popular mid-cap funds struggle to keep pace with runaway benchmark
“With high inflows into mid-cap stocks over the last few years, market efficiency within mid-caps have improved a lot. This means that there is less room for active managers to find mispriced stocks and generate alpha,” says Kunal Valia, founder, Statlane, an investment advisory firm.