Venture capital firms also are directing as much as $79.2 billion in funding to AI startups by the end of the year, 27 per cent above 2023 levels
The proposed demerger of Vedanta's diverse verticals that represent more than 15 commodities, will see the company progress from being asset managers to asset owners, Chairman Anil Agarwal has said. The proposed demerger will create independent companies housing aluminium, oil and gas, power, steel and ferrous materials, and base metals businesses. The existing zinc and new incubated businesses will remain under Vedanta Ltd. "Our expansionary moves are aligned with our business model transformation. The upcoming demerger of our diverse verticals that represent more than 15 commodities, will see us progress from being asset managers to asset owners," Agarwal said in a latest report. As the company passes through the transition phase, Vedanta is focusing on consolidating and strengthening its asset base to emerge as world leaders in each of its verticals, the Chairman said. Diversified natural resources company Vedanta Ltd has filed the demerger scheme with the National Company Law .
Investment manager Capitalmind Financial Services on Thursday said it aims to raise Rs 500 crore in its maiden alternate investment fund over the next year. The company has been in the portfolio management services space and currently, boasts Rs 2,200 crore assets under management, its founder and chief executive officer Deepak Shenoy said. The firm received the Sebi approval for a category 3 AIF which it christened as "Capitalmind Select India One" last year, he told reporters, adding that the minimum investment amount will be Rs 1 crore. The fund is designed for sophisticated investors seeking exposure to a diversified, quantitatively managed equity portfolio with active risk management, he said, adding that it will invest in 20-40 stocks. It combines multiple factors such as momentum, low volatility and quality into a single pooled vehicle, offering investors an opportunity for long-term wealth appreciation, a statement said.
RIL was the lone bidder for the company with a Rs 825-crore offer as against the dues of Rs 2,100 crore of banks
While US monetary policy was far from hawkish in 2014, it stood in contrast to the ultra-dovish trajectories of central banks in Europe, Japan and other countries
The European Central Bank says it is dialling back some of its massive emergency pandemic support for the economy.
Street's apprehension on asset quality and ability to regain footing on deposits has been arrested
Government and corporate bond schemes of NPS are unlikely to beat equity schemes over the long term
'We hold around €240 billion of liquidity reserves out of a net balance sheet of about a trillion', said Joshi
The job of the government in finance is not to influence the price but to create open access systems through which everyone can express views on the market