INVESTMENT CONTRACTS
IT companies see shift in deal scope on GenAI, muted market
Indian IT service firms are adapting to client demands for enhanced productivity and expanded scope of work, potentially impacting profit margins. IT companies are gifting productivity gains to clients during deals’ anniversaries
What are crypto futures and how do they work?
Crypto futures, available as Perpetual and Fixed-Date contracts on regulated exchanges, allow traders to use margins and leverage. They aid in hedging, price efficiency, and discovery but come with risks like high volatility, margin calls, and regulatory uncertainty.
Understanding Smart Contracts: The backbone of secure transactions in DeFi
This article explores DeFi and Ethereum-based smart contracts introduced by Nick Szabo, streamlining lending platforms, DEXs like Uniswap, and tokenized assets. Key features include atomic settlements and composability. Despite efficiencies, risks like the Poly Network hack necessitate security audits. Future advancements involve self-custody, AI integration, and interoperability in structured products.
SC quashes decision of Bengal authorities to cancel contract, terms it classic case of arbitrariness
The bench referred to the fact that the decision to cancel the contract was taken purportedly at the behest of a minister. The top court had reserved the judgement on May 8. While reserving the verdict, the bench had said the contracts awarding work to private parties should not be cancelled without assigning reasons.
Highway contracts stuck for a right scheme
NHAI struggles to meet expressway construction targets amid investment constraints in India's road infrastructure development.
US manufacturing contraction deepens in June
US manufacturing activity declined in June to 48.5 percent, below market expectations. Production execution was lower, causing revenue declines. Eight manufacturing industries reported growth, but textile mills, transportation equipment, and electrical equipment contracted. Wells Fargo economists highlighted inflation moderation and caution due to monetary policy and interest rates.
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FedEx eyes fiscal 2025 profit just above Wall St target, shares soar
FedEx anticipates strong profits in fiscal 2025, considering strategic actions like potential freight business sale and ending the unprofitable postal service contract. Despite market challenges, FedEx's revenue grew amidst cost-cutting measures and operational consolidation, reflecting the company's resilience and focus on long-term sustainability.
Beauty secrets: Inside India's booming beauty industry that relies on hundreds of contract manufacturers
Nishit Dedhia, the MD and cofounder of Kain Cosmeceuticals, is leading a tour of his cosmetics manufacturing facility in Khopoli, Maharashtra. The facility produces a variety of beauty products for the growing direct-to-consumer market in India.
How hedge funds are affecting Bitcoin prices
Bitcoin ETFs and hedge funds are driving significant inflows, sparking debates among investors. The surge in investment is influenced by hedge fund strategies, impacting Bitcoin's price dynamics.
Kotak Alt invests Rs 1445 crore for the acquisition of Viatris' API business by Matrix Pharma
Kotak Alternate Asset Managers has announced a Rs 1,445 crore investment in the acquisition of Viatris' active pharmaceutical ingredient (API) business by Matrix Pharma. The investment was made through Kotak Strategic Situations Fund II, as stated in a news release on Tuesday. However, specific details regarding the funding structure were not disclosed.
Tata Communications secures five-year contract with World Athletics
Tata Communications signed a five-year contract with global sports organization World Athletics, expanding its media business by adding over 20 international events. Dhaval Ponda, Global Head of Media and Entertainment Services at Tata Communications, highlighted the significant viewership of World Athletics events.
IT stocks plunge up to 5% on Monday after 8% rally last week. Know how experts view sector!
Nifty IT index fell 2.3% with Coforge and Persistent Systems as top losers, despite Nifty hitting a lifetime high. IT sector has seen recent positive returns but remains a laggard over the quarter.
Why crypto is an asset class that cannot be ignored?
Sathvik Vishwanath discusses the disruptive force of cryptocurrencies and their significance as an asset class in a live stream on ETMarkets, highlighting future trends like Ethereum 2.0 and DeFi.
Aurobindo Pharma signs pact with MSD to supply biologicals, to invest Rs.1000 crore on plant
Aurobindo Pharma's subsidiary, TheraNym Biologics Pvt Ltd, has signed a master service agreement with Merck Sharpe & Dohme Singapore for contract manufacturing of biologicals. The agreement, effective May 31, 2024, will see TheraNym contract manufacturing biologicals for domestic and international markets. TheraNym will invest Rs 1,000 crore in a biologics manufacturing facility in Telangana.
7 top cryptos to buy in 2024 for the next bull run
The 2024 Bitcoin halving occurred in April, impacting the crypto market. Altcoins present diversification opportunities by combining VR experiences. Research is crucial for successful crypto investing to navigate market trends and regulations.
China's factory activity unexpectedly contracts in May
China's manufacturing activity fell in May, with the official factory survey showing a decline. Calls for fresh stimulus persist due to the ongoing property crisis impacting businesses, consumers, and investors.
Indian IT sees deal tenures shrinking in rich neighbourhoods
At least two companies – HCLTech and Birlasoft – have gone on record to say that from the usual 10-12 year deals earlier, long-term arrangements are now ending in four years. Earlier, the tenures ranged between 10-12 years.
US House passes crypto bill despite warnings from SEC
The House approval comes as the U.S. Securities and Exchange Commission (SEC) signals that it will likely approve applications for spot ether exchange-trade funds in a surprising boost to the industry.
RITES signs pact with Bangladesh Railway to supply 200 passenger coaches
RITES Limited signed a contract with Bangladesh Railways to supply 200 broad-gauge passenger carriages, worth USD 111.26 million, funded by European Investment Bank. The contract includes design, spare parts support, and training, highlighting RITES' commitment to 'Make in India, for the World' vision.
Meme coin with AI superpowers: WienerAI breaks past $1.5 million milestone in hot presale
WienerAI (WAI) is a meme coin with AI superpowers, offering an AI trading bot and staking protocol on the Ethereum blockchain. It has a growing Twitter community, a Telegram channel, and a strategic tokenomics structure. Coinsult audit confirmed no major vulnerabilities, and it ranks second on the 'Best Crypto ICOs - New Upcoming ICO Calendar for 2024' list, exceeding $1.
India signs deal with Iran to run Chabahar port
At the end of the 10-year period, both sides will extend their cooperation in Chabahar. IPGL will invest about $120 million in equipping the port, officials said. India has also offered a rupee credit window equivalent to $250 million for mutually identified projects aimed at improving Chabahar-related infrastructure, they said.
Colonial Q1 Results: Net profit doubles on inflation-linked contracts, high occupancy
Its portfolio, which includes buildings in Spain and France, rose 6% in like-for-like rental income as lease contracts were adjusted upwards due to high inflation.
This banking stock gave 22% returns last year; is Equitas Small Finance Bank stock a good buy now?
Equitas Small Finance Bank’s 2022-23 annual report expects a Rs.22 lakh crore market for small business lending, backed by residential property. A recent Centrum Broking report states that the company is poised to double its AUM within the next three years, supported by its improving deposit franchise and distinct client segments. Its comfortable valuations at 1.4 times based on 2025-26 P/ABV (price to adjusted book value) presents an appealing opportunity for entry, adds the Centrum report. Should you invest in Equitas Small Finance Bank now?
Net metering key to rooftop sunshine
The promise of 300 units of free electricity for setting up rooftop solar panels is attractive. However, since many states give free power, setting up solar panels seems like an additional effort with no significant benefit. Outreach to target consumers, and increasing their awareness of the benefits of switching to rooftop solar, must be an integral effort of this programme. The on-ground outreach in Ayodhya for rooftop solar could serve as a template in other towns and cities.
NBCC bags contracts worth Rs 450 crore in Chhattisgarh, Kerala
NBCC obtained Rs 450 crore contracts from the Supreme Court's Receiver for projects in Chhattisgarh and Kerala. ASPIRE aims to complete 38,000 flats. R Venkataramani is involved. The contracts were disclosed in a regulatory filing.
Contracts awarding work to private parties should not be cancelled without assigning reasons: SC
Supreme Court has stressed the importance of providing reasons before canceling contracts, considering the investments and expectations of private parties.
India could allow a tiny window in the Chinese wall
In the wake of border tensions, the Indian government has been looking askance at investments by Chinese companies in India. Press Note 3 norms issued in 2020 stipulated that a company based in a country that shares a land border with India (such as China) can invest only after government clearance.
Lighthouse Funds invests Rs 700 crore in FMCG contract manufacturer Parsons Nutritionals
Private equity fund Lighthouse Funds has invested Rs 700 crore in Parsons Nutritionals, a contract manufacturer of cookies, chocolates, confectionery, malted beverages, and ready-drink mixes. The investment, part of Lighthouse's fourth private equity fund, Lighthouse India Fund IV, saw participation from IFC, Evolvence India, and HDFC AMC's Fund of Funds.
AI company Luminance raises $40 million as contracts tech investment booms
National Grid Partners and the London-based law firm Slaughter and May were also among the investors in the Series B round of funding for Cambridge, England-based Luminance.
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