ICICI Prudential AMC’s IPO is open for subscription, with Nimesh Shah expecting profitability pressures from growing AUM to be offset by falling unitholder fees. He highlighted operating profit growth as the key valuation metric for asset management businesses, which have historically required minimal capital for expansion.
Gold heads for sharpest weekly decline in four months on Fed rate outlook
Gold prices took a hit on Friday amid strong indicators of US economic growth and climbing oil prices. Spot gold prices sank to their lowest