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Millionaire Exodus: More than 6000 high net-worth individuals slated to leave India in 2023
- Approximately 6,500 high-net-worth individuals (HNIs) are expected to leave India in 2023, according to the Henley Private Wealth Migration Report 2023.
- Despite the outflow of HNIs, India is projected to experience an 80% increase in its high net-worth individual population by 2031, positioning it as one of the world's fastest-growing wealth markets.
- The report notes a trend of affluent individuals returning to India, and as the standard of living improves, a significant influx of wealthy individuals is anticipated.
- The UK and Russia are predicted to have 3,200 and 3,000 millionaires, respectively, according to the report.
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Bloomberg Quint
1h
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Belrise Industries IPO: How To Check Allotment Status On NSE, BSE And MUFG Intime India
- The Belrise Industries IPO closed with a strong subscription and the share allotment status is set to be finalized on May 26.
- Investors can check the IPO allotment status on the websites of MUFG Intime India, BSE, and NSE.
- Steps for checking allotment status include visiting respective websites and entering details like PAN, Application Number, or DP/Client ID.
- The grey market premium for Belrise Industries IPO was Rs 26, suggesting a potential 28.89% premium to the upper end of the price band.
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Bloomberg Quint
1h
299
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COVID-19 In India LIVE Updates: Gradual Uptick In Cases; Jharkhand Reports First Case
- India reported 44 new Covid cases in the last 24 hours with a recovery rate of 98.81%.
- One case of the emerging Covid-19 variant NB.1.8.1 and four instances of the LF.7 type were recorded in India.
- Jharkhand reported its first Covid case.
- The country is experiencing a gradual uptick in Covid-19 cases.
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Bloomberg Quint
1h
237
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Stock Recommendations Today: Ashok Leyland, JSW Steel, Container Corp On Brokerages' Radar
- Analyst calls for Ashok Leyland: Macquarie maintains 'neutral' rating; Nomura maintains 'buy' rating and hikes target price; CLSA upgrades to 'hold' from 'underperform' and hikes target price.
- Jefferies maintains 'buy' rating for Container Corp with target price hike and highlights key catalyst for growth.
- Brokerages share insights on RBI dividend: Morgan Stanley sees it as positive, Nomura expects more fiscal headroom, and BofA highlights economic capital framework flexibility.
- Morgan Stanley maintains 'equal-weight' rating for JSW Steel, highlighting in-line results with weaker overseas subsidiaries performance.
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Bloomberg Quint
1h
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Stock Market Live: GIFT Nifty Implies Positive Open; Airtel, JSW Steel, Glenmark Steel Shares In Focus
- The GIFT Nifty was trading higher early morning on Monday, implying a positive open for the benchmark indices.
- The NSE Nifty 50 and BSE Sensex are expected to start Monday on a positive note.
- Investors will focus on shares of Balkrishna Industries Dreamfolks Services Ltd., JSW Steel Ltd., Glenmark Pharma Ltd., and Bharti Airtel Ltd. due to earnings and news flow overnight.
- The benchmark equity indices closed higher on Friday after a day of respite, amidst volatility in domestic markets.
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HinduBusinessLine
1h
60
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EU gets time till July 9 as Trump delays 50% tariff threat
- EU gets extension until July 9 as Trump postpones 50% tariff threat following a call with Ursula von der Leyen, President of the European Commission.
- Trump stated that von der Leyen expressed interest in serious negotiations, leading to the agreement of extending the deadline.
- Previously, Trump had threatened to impose a 50% tariff on EU goods and 25% penalties on Apple, citing difficulty in trade negotiations with the EU.
- The EU and US aim to swiftly progress talks and reach a beneficial agreement by July 9 to promote close trade relations.
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Bloomberg Quint
1h
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Weather News Today LIVE Updates: Mumbai Wakes Up To Rainfall, Thunder; IMD Forecasts Light To Modera Spell
- Mumbai woke up to heavy rains and thunderstorm with a forecast of moderate rains.
- An orange alert was issued by the India Meteorological Department for Mumbai and suburban areas with forecasts of heavy rainfall, moderate thunderstorms, and gusty winds.
- The latest update suggests the city could experience a moderate to light spell of rainfall for the next few hours after heavy rains hit Mumbai on Sunday.
- Traffic congestion was reported across the city due to heavy rains on Sunday.
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Bloomberg Quint
1h
279
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How To Check Dar Credit And Capital IPO Allotment Status On NSE And Kfin Technologies
- Dar Credit and Capital IPO allotment is scheduled to be finalized on Monday, May 26, after being oversubscribed 100 times during the bidding process.
- The IPO comprises a fresh issue of 42.76 lakh shares with a price band set between Rs 57 to Rs 60 per share.
- Investors can check their IPO allotment status on the NSE or Kfin Technologies websites post finalization by following the provided step-by-step guides.
- The Dar Credit and Capital IPO is expected to list on NSE SME (Emerge) on May 28 with a grey market premium at Rs 16, indicating a potential 26.67% premium to the upper end of the price band.
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HinduBusinessLine
1h
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Watch out for these stocks: ONGC, JP Associates, Infra, IIFL Finance, Paytm, SJVN, DroneAcharya, Paras Defence, Dr Reddy’s Lab, LIC, Venus Remedies, Lloyds Engg, Sun Pharma, Harsha Engineers
- Reliance Infrastructure's Reliance Defence has signed a strategic partnership with Rheinmetall AG in the ammunition field.
- IIFL Finance has received approvals to expand its credit services into Jammu & Kashmir.
- Supreme Court granted a stay on a Rs 5,712-crore GST notice to gaming platform First Games.
- ONGC, Hardy Exploration, and Invenire Petrodyne have commenced production from the PY-3 Field in the Cauvery Basin.
- Ashok Leyland announced a 1:1 bonus share issue and a dividend payout of ₹4.25 per share.
- SJVN signed a Power Sale Agreement with Damodar Valley Corporation for its Arun-III Hydro Electric Project.
- DroneAcharya Aerial Innovations approved to acquire 49% stake in PYI Technologies and received a cautionary email from BSE.
- Dr Reddy’s Laboratories received Form 483 with two observations after a USFDA inspection at its API plant.
- LIC set a Guinness World Record for most life insurance policies sold in 24 hours.
- Venus Remedies renewed GMP certification for its manufacturing facility in Himachal Pradesh.
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HinduBusinessLine
1h
147
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Aegis Vopak IPO opens today at Rs 223-235
- Aegis Vopak IPO opens with shares priced at Rs 223-235.
- The company has allocated shares to different investor categories, with proceeds aimed at debt repayment, capital expenditure, and general corporate purposes.
- As part of the IPO, Aegis Vopak mopped up Rs 1,260 crore from anchor investors, including various marquee investors.
- The company, incorporated in 2013, operates storage terminals for LPG and liquid products, managing over 1.50 million cubic meters of liquid products storage and 70,800 MT for LPG.
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Bloomberg Quint
1h
51
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Stocks To Watch Today: Bharti Airtel, JSW Steel, Lupin, Inox Wind And Zydus Lifesciences
- Stocks to watch today include Bharti Airtel, JSW Steel, Lupin, Inox Wind, and Zydus Lifesciences, along with others like Bajaj Auto and Sun Pharmaceuticals.
- Bharti Airtel faces a levy of entertainment tax on DTH services amounting to Rs 585 crore, as per the Supreme Court's dismissal of an appeal.
- JSW Steel reported positive Q4 FY25 results with revenue up 8.3% and a significant increase in net profit.
- Earnings highlights from various companies like Dreamfolks Services, Azad Engineering, and Glenmark Pharma were also mentioned.
- Zydus Lifesciences received approval from the US FDA for Isotretinoin Capsules USP, enhancing its market prospects.
- Companies like Havells India, Sun Pharma, and Garware Hi-Tech are making strategic investments and appointments for future growth.
- Inox Wind Energy's scheme of arrangement was approved by NCLT, indicating favorable developments in the renewable energy sector.
- Various other companies like GE Vernova, Lux Industries, and Aditya Birla Fashion reported their Q4 FY25 results, showing mixed financial performance.
- A list of upcoming earnings reports from companies like Aurobindo Pharma, Blue Dart Express, Lumax Industries, and more was also provided.
- The article also offers insights on stocks, market updates, business news, and IPO information for readers' reference.
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Bloomberg Quint
1h
35
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Trump Extends Deadline For 50% Tariffs On EU Goods To July 9
- President Trump extends the deadline for 50% tariffs on EU goods to July 9 after a phone call with EU Commission President Ursula von der Leyen.
- The EU had been facing a 20% tariff, temporarily reduced to 10% until July 9 under reciprocal rates announced in April.
- US equity-index futures rose after Trump's announcement, with discussions focusing on reducing tariffs to zero on goods and addressing non-tariff trade barriers.
- Trump threatens a 50% tariff on $321 billion worth of US-EU goods trade, aiming to incentivize companies to manufacture in the US rather than overseas.
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Bloomberg Quint
1h
239
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Trump Expresses Optimism On Iran Deal After ‘Very Good’ Talks
- President Donald Trump expressed optimism on the Iran deal after 'very good' talks with Iranian officials regarding limiting the Islamic Republic's nuclear programs.
- The talks held last week in Rome, as mentioned by Iranian Foreign Minister Abbas Araghchi, have the potential to lead to an agreement in upcoming meetings.
- Trump stated his desire for a peaceful resolution, saying, 'I'd love to see no bombs dropped and a lot of people dead,' indicating a positive outlook.
- Trump's positive comments and the optimistic tone from the Rome talks have the potential to calm the oil market, previously unsettled by reports of potential Israeli attacks on Iran's nuclear sites.
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Bloomberg Quint
2h
250
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Petrol, Diesel Prices Unchanged On May 26; Here's How Much You Pay For Fuel Now
- Petrol and diesel prices remained unchanged on May 26 in most metro cities.
- In Mumbai, petrol is priced at Rs 103.50 per litre, and diesel costs Rs 90.03.
- In Chennai, petrol is now sold at Rs 101.03 a litre, and diesel costs Rs 92.61.
- Fuel prices in India have stayed steady since May 2022 due to reductions in fuel taxes by the central government and various state governments.
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Bloomberg Quint
2h
120
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Oil Edges Higher As Trump Extends Tariff Deadline On EU Goods
- Oil prices rose after President Donald Trump extended the tariff deadline for the European Union, bringing optimism for easing trade tensions.
- Brent crude traded near $65 a barrel and West Texas Intermediate was below $62 following the tariff deadline extension.
- The discussions between the US and Iran over limiting Iran's nuclear programs have been positive, potentially leading to an agreement in future meetings.
- OPEC+ plans to boost idled production, which combined with trade tensions and tariff uncertainties, have been impacting oil prices in recent months.
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Bloomberg Quint
2h
179
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Asian Shares, US Futures Rise On EU Tariff Delay: Markets Wrap
- Asian shares and US futures rose after President Trump delayed EU tariffs, causing a positive market reaction.
- The S&P 500, Nasdaq 100, and Euro Stoxx 50 futures all climbed about 1% following the tariff extension announcement.
- Trump's decision to delay tariffs after a call with EU President Ursula von der Leyen eased market tensions.
- The tariff threats included a 25% levy on smartphones, impacting companies like Apple and Samsung.
- Investors see Trump's tariff strategy as a negotiation tactic, with uncertainties remaining in the market.
- Japan's trade negotiator aims to resolve tariff talks before a meeting between Trump and Japan's Prime Minister.
- Oil prices increased while gold prices fell in early trading following the tariff delay news.
- Stocks like the S&P 500 and Japan's Topix rose, while the Euro Stoxx 50 futures fell slightly.
- Currencies remained stable, with the dollar index showing little change and the euro rising slightly.
- Bitcoin and Ether prices rose, while WTI crude oil prices increased and spot gold prices fell.
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