Business & Economy

Business Cycle Funds Shine Amid Weak MarketsEven as the Indian stock markets continue to face turbulence, certain mutual funds have delivered impressive returns, outperforming benchmarks like the Nifty 500 TRI. Business cycle funds, in particular, have demonstrated resilience, turning a modest investment of ₹1 lakh into over ₹2.5 lakh in five years. Performance Highlights: ICICI Prudential Business Cycle Fund: 1-year return of 18.12%, 3-year return 22.82% Kotak Business Cycle Fund: 1-year 10.48%, 3-year 17.80% HDFC Business Cycle Fund: 1-year 8.59%, 3-year 14.97% How Business Cycle Funds Work:These funds primarily follow an open-ended equity model and adopt an opportunistic, top-down approach based on the current stage of the business cycle. By analyzing macroeconomic indi...

Heavy Selling in IT Stocks Sends Market Cap Tumbling:The Indian stock market witnessed a sharp decline in IT shares today, wiping out ₹1.3 lakh crore from the combined market capitalization of leading IT companies. Investor sentiment turned jittery over fears that artificial intelligence (AI) developments could impact traditional IT service revenue streams. Market Impact: The Nifty IT index fell more than 4% during early trading, hitting a four-month low. Stocks of TCS, Infosys, Wipro, HCL Tech, and Mphasis fell between 4–5%. TCS shares dropped 4.5% to ₹2,776, reaching a 52-week low, bringing its market capitalization below ₹10 lakh crore. Overall, IT stocks’ market cap declined from ₹28.9 lakh crore to ₹27.6 lakh crore, a loss of ₹1.3 lakh crore. Reason Behind the Sell...

Swadeshi Raw Materials for Defence:For the first time, production of missile and rocket components for the Indian Army is taking place within India. Agneevasthraa Pvt Ltd, a Tamil Nadu-based company, has signed a strategic Memorandum of Understanding (MoU) with the Indian Army to supply advanced carbon fabrics and other indigenous defense materials. A Milestone for Make in India:Since Prime Minister Narendra Modi launched the ‘Make in India’ initiative, domestic companies have increasingly entered strategic sectors. Previously, advanced carbon fabric and high-performance composite materials for the armed forces were mostly imported. Agneevasthraa’s MoU marks a historic step toward self-reliance in critical defense components. Details of the MoU:According to media reports, the agreeme...

Heavy Selling in IT Stocks Triggers Sharp Decline:The domestic stock market witnessed a significant fall today as heavy selling in IT stocks coincided with reduced expectations of an interest rate cut in the U.S. after stronger-than-expected January data. The BSE Sensex fell more than 500 points, slipping below 83,800, while the Nifty 50 index dropped over 100 points, trading below 25,850. Market Details: At 11:35 AM, Sensex was at 83,732.30, down 501.34 points (0.60%). Nifty traded at 25,821.55, down 132.30 points (0.51%). Top Losers: IT heavyweights such as Infosys, TCS, Tech Mahindra, HCL Tech, Eternal, and Titan fell 2–4%. On the other hand, ICICI Bank, NTPC, Axis Bank, Power Grid, and Tata Steel saw marginal gains. Expert Insight:VK Vijaykumar, Chief Invest...

Initial Trading Sees Drop in Precious Metals:After a one-day rally, gold and silver prices have slipped in early trading today. On the MCX, silver fell by ₹2,500 while gold declined by ₹1,000 per 10 grams. Silver Prices:The May 5 delivery silver contract closed at ₹2,63,018 per kg in the previous session and opened today at ₹2,61,361. During early trading, prices ranged between ₹2,60,128 and ₹2,61,924 per kg. At 9:30 AM, silver was trading at ₹2,60,369 per kg, down ₹2,649 (1.01%). Gold Prices:The April 2 delivery gold contract closed at ₹1,58,755 per 10 grams in the last session and opened today at ₹1,58,000. Early trading saw prices fluctuate between ₹1,57,701 and ₹1,58,173 per 10 grams. At 9:36 AM, gold was trading at ₹1,57,858 per 10 grams, down ₹897 (0.57%). International Mark...

Stricter Guidelines to Protect Bank Customers:Complaints of banks selling products or schemes to customers without their consent are common. The Reserve Bank of India (RBI) has now taken a strict stance. If it is proven that a customer was mis-sold a financial product or service, banks will be required to refund the full amount paid and compensate any loss suffered by the customer. New Measures Against Mis-Selling:The RBI has proposed new rules to prevent “mis-selling” practices. Banks are advised to avoid offering any incentives or rewards that may lead to customers being sold products against their interest. The draft guidelines cover advertising, marketing, and sales by financial institutions. Key points include: Banks should not call customers without consent, and calls must ...

Seamless KYC for Banking and Finance Transactions:From now on, you won’t have to go through the hassle of repeated KYC (Know Your Customer) updates for banking, insurance, mutual funds, or other financial services. The government is planning to launch an upgraded version of the Central KYC Records Registry (CKYCRR 2.0) by the end of February, which will be integrated with DigiLocker. This will allow instant verification of documents directly from government databases. Key Highlights of CKYCRR 2.0: Integration with DigiLocker: CKYCRR 2.0 will be fully linked with DigiLocker, the secure cloud-based platform for storing and verifying official documents. This ensures instant verification through the issuing authorities, eliminating repeated KYC submissions. Streamlined Verification: ...

Nationwide Strike Called by Workers and Farmers:Several workers’ and farmers’ organizations across India have called for a Bharat Bandh today. Major banking associations have also expressed support, raising concerns about potential disruptions in government bank operations. However, neither the Reserve Bank of India (RBI) nor banks have officially declared a bank holiday. Impact on Banking Services:Retail customers are confused about whether banks will remain open. Banks including SBI, UCO Bank, and Bank of Baroda have informed the BSE that operations may be affected due to the bandh. Bank of Baroda stated that it is taking all necessary measures to ensure smooth functioning across all branches and offices, but acknowledges that operations could be disrupted. SBI, the country’s l...

Opportunity for Retail Investors:Retail investors have a chance to buy shares of the government-owned Bharat Heavy Electricals Limited (BHEL) today at a discounted price. The government is selling its 5% stake in BHEL through an Offer for Sale (OFS). While non-retail investors could participate on Wednesday, retail investors can place their bids today. The floor price for the shares has been set at ₹254 per share. In the previous session, BHEL shares closed at ₹260.65 on the BSE, down 5.58%. Strong Institutional Response:Institutional investors showed strong interest on the first day of the sale, bidding over ₹5,650 crore. The OFS was more than twice subscribed on day one. Arunesh Chawla, Secretary of the Department of Investment and Public Asset Management (DIPAM), told X that the gove...

From Jamalpur to Global Plates:Gautam Kumar, a young man from Jamalpur in Bihar’s Munger district, has transformed traditional millet-based and local cuisine into a globally recognized culinary brand. His creations have even reached the table of Prime Minister Narendra Modi, earning appreciation from international delegates and billionaires alike. Early Struggles and Determination:Growing up in the narrow lanes of Jamalpur amidst the whistle of passing trains, Gautam never imagined his dishes would one day be served at the highest international platforms. He recalls walking several kilometers to school every morning, often feeling out of place. This sense of not quite fitting in stayed with him, particularly when he decided to pursue cooking—a field then largely dominated by women, and ...