Wall Street could be staring at a meltdown as big investment banks including Nomura and Credit Suisse rush to unwind bets in various stocks after a common client defaulted on margin calls. Although the client's name has not been confirmed, media reports claim it to be Archegos Capital Management, a family office run by Bill Hwang. The margin default may lead to Nomura reporting a one-time loss of $2 billion in the March quarter, while Credit Suisse may incur a loss of $1 billion. Should Indian investors worry?
Tesla Inc chief and billionaire entrepreneur Elon Musk surpassed Amazon.com Inc's top boss Jeff Bezos to become the world's richest man, Bloomberg News reported. Including Thursday's gains in Tesla shares, Musk, 49, had a net worth of more than $188.5 billion, $1.5 billion more than Bezos, the report said. The Forbes Billionaires List, however, said Musk still trails Amazon's Bezos by $7.8 billion. Watch the video to know more about the Tesla chief and his ambitions.
Mukesh Ambani, the owner of the industrial behemoth Reliance Industries Limited, was this week dethroned by Hong Kong's lesser known and understated bottled water king Zhong Shanshan, chairman of both bottled water company Nongfu Spring and vaccine maker Beijing Wantai Biological Pharmacy Enterprise. Watch the video to know the story behind his success.
Was your 2020 financially rough? Here's some help. Motilal Oswal Financial Services has released its 25th Annual Wealth Creation Study 2020 where it has shortlisted 25 stocks that are likely to deliver handsome returns over the next 25 years. Watch the video to learn more about these stocks.
A sharp crash in the domestic markets left investors running for cover in Monday's session as benchmark equity indices tumbled. The S&P BSE Sensex lost 2,037 points in intra-day deals to hit a low of 44,923.08. The index, however, recovered partially and ended the day at 45,554 levels - down 3 per cent, or 1,407 points. On the other hand, the Nifty50 ended the day at 13,328 levels, down 3.14 per cent, or 432 points. Watch video to know about three key factors behind today's market crash.
From the big barrier to the early launch of 5G in the country to what makes the next budget different from each one before it, here's what Business Standard columnists wrote this week.
Residential real estate is a tale of two markets– luxury and everything else. A luxury home is all about location, provenance lifestyle – most often characterized by high-end finishes, large sizes, unique architectural details and exceptional amenities. But most importantly a luxury home is high on experiences, where the simple moments of everyday life are elevated to become the art of living. Covid 19 has pushed many luxury homes on sale. Corrected valuations, some discounting, lower interest rates, stamp duty rebates in certain States may have acted as catalyst for fence sitting homebuyers. Data suggests that transactions are happening across top Indian cities within a price bracket of Rs 5 crore to 50 crore and more. People are scouting for larger spaces with grand amenities. Needless to say, people want to get the best version of homes that their imagination, read pockets can stretch to. As the luxury home buyer makes a comeback, let’s find out what is trending in luxury homes acr
The government's tax collections have picked up and high-frequency activity indicators continue to improve on the back of the government's targeted Covid-19 stimulus, Finance Secretary Ajay Bhushan Pandey said. He also said the generation of e-way bills, needed for transportation of goods, is back to pre-Covid levels and online payments have risen exponentially. Collection of Goods and Services Tax (GST), levied when a product is consumed or a service is rendered, has risen for the second month in a row.
A number of people have started to look at 'equity investment' as an additional source of income, with uncertainty over their current jobs and also the availability of spare time with 'work from home' scenario, to explore newer avenues. Many edtech companies have reported a huge surge in uptake of financial and stock market related courses. In an exclusive interview with Namrata Kohli, Udemy India MD Irwin Anand explains the significance of upskilling and reskilling in times of Covid-19.
A Monetary policy action is one of the keenly tracked events in an economy. Here's look at at its impact, and how it changes your home loan, other EMIs
In this special Business Standard webinar, where RBI Governor Shaktikanta Das delivers the keynote address, the biggest names in the banking industry discuss the importance of capital in these times >
In this special Business Standard webinar, the biggest names in India's insurance industry discuss the way forward for general and life insurance segments, especially in the wake of a pandemic >
In this special Business Standard webinar, the biggest names in India's mutual fund industry discuss if the market running ahead of the economy >
In this special Business Standard webinar, the biggest names in India's small finance bank space discuss if this is right time for the segment to make it big >
In this special Business Standard webinar, India's biggest leaders in financial technology space discuss the importance of digital technology for the financial services sector
In this special Business Standard webinar, India's biggest leaders in banking and financial services discuss whether and how rural India could prove to be the next growth driver >
Mumbai, May 19 (ANI): Equity benchmark indices rebounded during early hours on Tuesday in line with global cues with metal and auto stocks gaining ground. At 10:15 am, the BSE S-P Sensex was up by 536 points or 1.78 per cent at 30,565 while the Nifty 50 edged higher by 159 points or 1.8 per cent at 8,982. Except for PSU bank, all sectoral indices at the National Stock Exchange were in positive zone with Nifty metal and auto up by 1.7 per cent each, private bank by 1.5 per cent and pharma by 0.7 per cent. Among stocks, telecom major Bharti Airtel gained by 7.9 per cent to Rs 580.90 per share despite reporting a net loss of Rs 5,237 crore in the January to March quarter.
Mumbai, May 18 (ANI): Equity benchmark indices traded in the negative territory during early hours on Monday as the country extended nationwide lockdown till month-end to curb the spread of coronavirus pandemic. Besides, the government announced a final set of measures under its stimulus package to revive the economy and make India a self-reliant nation. At 10:15 am, the BSE S-P Sensex was down by 692 points or 2.22 per cent at 30,406 while the Nifty 50 edged lower by 205 points or 2.24 per cent at 8,932. All sectoral indices at the National Stock Exchange were in the red with Nifty private bank down by 5.1 per cent, PSU bank by 4.5 per cent and financial service by 4.3 per cent. Among stocks, IndusInd Bank was down by 6.5 per cent to Rs 391.40 per share while ICICI Bank slipped by 6.4 per cent, Axis Bank by 5.7 per cent and State Bank of India by 4.1 per cent. Auto majors Maruti Suzuki and Tata Motors skidded by 3.7 per cent and 3.6 per cent. However, those which gained with thin marg
New Delhi, May 15 (ANI): Finance Minister Nirmala Sitharaman on May 15 announced Rs 10,000 crore scheme for the formalisation of Micro Food Enterprises (MFE). "The scheme promotes PM's vision of 'Vocal for Local with global outreach'," she further added. Finance Minister unveiled the third tranche of the Rs 20 lakh crore COVID-19 economic package announced by Prime Minister Narendra Modi on May12.
New Delhi, May 15 (ANI): Union Finance Minister Nirmala Sitharaman on May 15 announced that the central government will amend the Essential Commodities Act to enable better price realization for farmers. In a press conference, Sitharaman said, "Government to amend the Essential Commodities Act to enable better price realization for farmers; agriculture products including cereals, edible oils, oilseeds, pulses, onions and potatoes to be de-regulated."