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For millions of salaried individuals, their Employees’ Provident Fund (EPF) plays a key role in building long-term economic security. Over time, a routine deduction from a monthly salary can grow into a substantial retirement corpus through regular contributions and compounding. How can regular EPF contributions build wealth? EPF operates on a straightforward principle: consistent contributions…
“FIRE is a number game. In the US, that number is about 25 times your annual expenses. While in India it’s about 33-35 times your annual expenses,” she adds. For Chauhan, though this is not a number that’s cast in stone, “Expenses change, as life situations change; whether due to unexpected medical needs or launching…
Contract manufacturing startup Zetwerk has filed the updated draft red herring prospectus (UDRHP) with Sebi (Securities and Exchange Board of India) on Thursday for its initial public offering (IPO) as it plans to raise up to Rs 2,600 crore through a fresh issue. Zetwerk also has an offer for sale of up to 96,837,455 equity…
ET Intelligence Group: Lalithaa Jewellery Mart, a jewellery retailer, plans to raise ₹1,200 crore through a fresh issue to fund capital expenditure. It will also raise ₹500 crore through an offer for sale. The promoter group’s stake will fall to 82.9% after the IPO from 97.7%. The company offers gold, silver and diamond jewellery. The…
Asian stocks gained as further evidence of moderating US inflation and a pullback in oil prices reinforced bets that the Federal Reserve will refrain from raising interest rates next month. MSCI’s Asia Pacific equities gauge advanced 0.4%, with South Korea’s Kospi Index jumping almost 3%. Earlier, the S&P 500 rose 0.7% Thursday to a record,…
Mumbai: Keeping faith in Indian equities may have paid off for Goldman Sachs, Capital Group and other top foreign funds in the June quarter, when an overwhelming majority of overseas investors had been busy exiting local risk assets in the immediate aftermath of the Iran crisis. At least 75% of the top 20 foreign portfolio…
Mumbai: General Insurance Corporation of India (GIC Re) has reported a 9.7% year-on-year increase in quarterly profit after tax, helped by an improvement in claims and underwriting performance. For the June quarter, the company on Thursday said profit after tax increased to Rs 1,922 crore compared with Rs 1,752 crore a year earlier. Gross premium…
Mumbai: Bank of America‘s (BofA) $1.9-billion investment in Jio Financial‘s lending arm Jio Credit reiterates growing interest from large foreign financial institutions taking big bets in India’s retail loan market, market experts said. Analysts say that the latest announcement continues with the trend of Jio choosing heavyweight overseas partners for its financial businesses across asset…
Mutual fund managers reshuffled portfolios within blue-chip stocks in July, increasing exposure to select IT, auto and pharmaceutical names. Fund houses bought financial services plays including NBFCs and private sector lenders. Read more: Which sectors attracted mutual fund interest in July? Check details At the same time, they pared holdings in PSU names such as…
Elon Musk’s record-setting compensation packages from Tesla and SpaceX are reshaping executive CTC across corporate America, with S&P 500 boards increasingly using them as a benchmark for larger CEO pay, an American Federation of Labour and Congress of Industrial Organisations study found, according to a Reuters report. Excluding Musk, the average compensation for S&P 500…