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[ad_1] Gold Up as U.S. Dollar Weakens over Uncertain Monetary Outlook [ad_2] Source link

[ad_1] Domestic stock indices snapped their 6-day losing streak on Monday as BSE Sensex and NSE Nifty 50 rose higher. BSE Sensex closed 237 points, or 0.46 per cent, higher at 51,598 and the NSE Nifty 50 shut shop at 15,530, up 57 points or 0.37 per cent. However, on Tuesday trends on SGX Nifty was suggesting that Dalal Street might see tepid start. Nifty futures were up just 12 points or 0.08 per cent at 15,374 on Singaporean Exchange. Global cues were positive with Asian stocks trading mostly buoyant. U.S. markets are set to return to trade on Tuesday after a holiday on Monday. Analysts say it’s just a pause after the sharp decline and participants should look for shorting opportunities in case Nifty witnesses any rebound towards the 15,550-15,700 zone. “For cues, the performance of the global indices and crude movement will remain in focus,” Ajit Mishra, VP – Research, Religare Broking, said. Stocks to watch on 21 June 2022 Reliance Industries Ltd: The Securities and Exchange Board of India (SEBI) on Monday imposed a penalty of Rs 30 lakhs on RIL and its two compliance officers for alleged violation of Prohibition of Insider Trading (PIT) regulations. Vodafone Idea: Vodafone Idea’s (VIL) board is scheduled to meet on June 22 to consider a proposal to raise Rs 500 crore from one of the entities of Vodafone Group. The promoters of VIL (Vodafone Group and Aditya Birla Group) had infused Rs 4,500 crore into the company in March. Life Insurance Corporation of India: JP Morgan initiated coverage on LIC with an overweight rating and a target price of Rs 840. It believes that the market is mispricing the newly-listed Life Insurance Corporation of India’s shares which are down over 30 per cent from the IPO price. Bank of India: State-owned Bank of India (BoI) is mulling to raise up to Rs 2,500 crore in fresh equity capital as it requires to increase the public shareholding in the bank to 25 per cent to comply with regulatory norms. Presently, public shareholding in Bank of India is 18.59 per cent. Happiest Minds: Morgan Stanley sold over 13 lakh shares of midcap IT firm Happiest Minds Technologies on Monday. BSE data shows that Morgan Stanley Investment Funds Emerging Leaders Equity Fund sold 13.14 lakh shares of Happiest Minds at Rs 800 per share. On the other hand, Plutus Wealth Management bought 19.39 lakh shares at Rs 800.02 apiece. Adani Power: Adani Power completed the acquisition of 100 per cent equities in SPPL and EREPL for about Rs 609 crore. On June 7, 2022, Adani Power had signed a share-purchase agreements to acquire 100 per cent equity shares of two companies- Support Properties (SPPL) and Eternus Real Estate (EREPL) from their respective shareholders. [ad_2] Source link

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[ad_1] Australia's central bank flags more hikes as rates still 'very low' [ad_2] Source link

[ad_1] Vodafone Idea’s (VIL) board is scheduled to meet on June 22 to consider a proposal to raise Rs 500 crore from one of the entities of Vodafone Group. The promoters of VIL (Vodafone Group and Aditya Birla Group) had infused Rs 4,500 crore into the company in March. The company had announced a Rs 25,000-crore fundraising exercise, of which Rs 5,000 crore will be from the promoters while the remaining Rs 20,000 crore will come from lenders and investors. “… A meeting of the Board of Directors of the company is scheduled to be held on Wednesday, 22nd June 2022 … to consider proposal for raising of funds aggregating up to Rs 500 crore, by way of issuance of equity shares and / or convertible warrants on a preferential basis to one or more entities belonging to Vodafone Group (one of the promoters of the company),” VIL said in a filing to BSE. Vodafone Idea’s fundraising efforts have been expedited as the government soon plans to approve conversion of its debt into equity in the company. This will help the financially stressed telecom operator to complete its targeted Rs 25,000-crore fundraising exercise. It will also help it participate in the upcoming 5G spectrum auctions. Vodafone Idea CEO and managing director Ravinder Takkar had recently told FE that lenders and investors are comfortable now, and once the government converts its debt into equity, funding from these two sources would come. After the equity conversion, the government will hold 32% stake in Vodafone Idea, and the promoters’ stake will get diluted to around 50% from the current 75%. Takkar had said the Rs 25,000-crore funding would be enough for the company in the near future to take care of capex and cash flows.In January, Vodafone Idea’s board had informed the department of telecommunications that it will opt for converting the interest on its adjusted gross revenue (AGR) and spectrum dues into government equity. This followed a telecom revival package announced by the government in September 2021. The net present value of this interest is expected to be about Rs 16,133 crore. [ad_2] Source link

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[ad_1] JetBlue sweetens offer for Spirit to $33.50 per share [ad_2] Source link

[ad_1] Ongoing Artemis moon rocket’s final prelaunch test faces issues on the launchpad  CNN Live coverage: Artemis countdown rehearsal begins at Kennedy Space Center – Spaceflight Now  Spaceflight Now LIVE: NASA’s next-generation moon rocket undergoes more tests  Reuters NASA making fourth attempt to complete Artemis 1 Wet Dress Rehearsal – NASASpaceFlight.com  NASASpaceflight.com This Week @NASA: Artemis I Moon Mission, Cosmic Cannibalism, Hypersonic Inflatable Aeroshell  SciTechDaily [ad_2]

[ad_1] We reiterate our Buy rating on Cera Sanitaryware (CRS) led by continued healthy demand environment aided by pick-up in the residential housing market and also from home improvement market. Our interaction with dealers and management indicates continued demand tailwind even in Q1 in the core segments of sanitaryware and faucetware. Margins should also remain firm going ahead as the company has taken price increase of ~3% in sanitaryware and ~5% in faucetware during mid-May, 2022 which should negate raw material price pressures. Management has guided to double the revenue over the next ~3.5 years with margin improvement of at least 50bps-75bps y-o-y in FY23. We expect CRS to witness revenue/PAT CAGR of 17%/27%, respectively, over FY22-24 led by faucetware and sanitaryware segments with continuous high return ratios. Maintain Buy with an unchanged Mar’23 target price of Rs 5,592 set at 32x PER FY24E (in line with 1-yr forward five-year average PER). Revenue CAGR of 17% during FY22-24E: CRS is expected to witness revenue CAGR of 17% during FY22-24E aided by growth in sanitaryware and faucetware segments. Both these segments are witnessing strong demand due to pick-up in the residential housing market and increased demand from home improvement market. CRS derives ~55% of revenue from tier-3 and below markets, which continue to witness healthy demand. The sanitaryware segment is expected to witness revenue CAGR of 15% over FY22-24E with incremental volumes being catered to from outsourcing until the new owned-manufacturing facility commences production. The greenfield sanitaryware facility is expected to commission production in 24-30 months at a capex of Rs 1.28 bn. In faucetware segment, revenue CAGR of 22% during FY22-24E is expected, aided by commencement of enhanced capacity of 1.2mn pcs in Q1FY24. Total capex planned for brownfield expansion of faucetware facility is Rs 690 mn. Both these capex projects will be funded from internal accruals. Margins to remain stable: CRS has taken price increase of 3% in sanitaryware segment and 5% in faucetware segment in mid-May,2022. This price increase, coupled with earlier price increases in FY22, will enable the company to maintain margins at ~15.5% going ahead (average margin over FY12-FY22 had been ~15%). We have modelled EBIDTA/PAT CAGR of 17%/27% during FY22-24E. Valuations: CRS has a strong net-cash balance sheet with healthy growth prospects led by uptick in housing market and increased demand from home improvement market. We continue to like the company for its comprehensive product portfolio, wide distribution reach and strong brand presence. Maintain Buy with an unchanged Mar’23 target price of Rs 5,592. Key risks to our call: 1) Slowdown in demand from housing, 2) continued higher input prices, which may dent demand/profitability. [ad_2] Source link

[ad_1] The post Best Personal Capital Alternatives to Manage Your Money appeared first on Millennial Money. Personal Capital is one of the most popular financial apps for Android and Apple devices. This mobile app offers a variety of useful services for cash, personal finance, and wealth management.  Truth be told, this is one of my favorite financial apps due to the number of services it offers and its user-friendly layout. But while Personal Capital is great, there are other similar apps on the market you can use to link to your favorite financial institutions — making money management a breeze along the way. To make the selection process easier, let’s take a closer look at some leading Personal Capital alternatives to help you pick the best solution for your unique needs. Table of contents Best Personal Capital alternatives for financial management Best for investment management: Betterment Best free mobile app: Mint Best desktop software: Quicken Best for building wealth: Wealthfront Best budgeting tool: You Need a Budget (YNAB) Best for tracking finances: Tiller Money Best free spreadsheet service: Google Sheets Best paid spreadsheet service: Excel Best for bill payment: Prism Best for reducing spending: PocketGuard Best Personal Capital alternatives for financial management Best for investment management: Betterment  Betterment is a leading personal finance app that offers a variety of useful services.  One of my favorite things about Betterment is that it supports investment tracking. The Betterment app can track investment accounts and lets you set custom investing and savings goals. Betterment lets you check balances on the fly and make deposits and transfers into different financial accounts from one interface — pretty convenient if you ask me! Betterment offers a free pricing model with access to a no-fee checking account and Visa debit card, as well as ATM fee reimbursement and FDIC insurance. It comes with a high-yield cash account offering a variable 0.10% APY, along with advice and planning tools. In addition to the free version, Betterment also offers paid plans that charge annual fees of 0.25% ($0 minimum balance) and 0.40% ($100,000 minimum balance. For more information, check out Betterment’s pricing models. Learn More: Betterment Review 2021 Betterment Varies Betterment can help grow your money by making saving and investing easy. Invest in a tailored portfolio, set buckets for your goals, and earn rewards. Get Started Best free mobile app: Mint As a free mobile app with great functionality, Mint packs a real punch. The platform makes it easy and enjoyable to manage personal finances, giving you more control over your financial situation. With Mint, you can manage spending, check account balances, and use a free budgeting tool. The app also provides free credit score reporting, which isn’t something you’ll find with Personal Capital. In addition, Mint contains a useful portfolio and investment tracking service that can help you stay on top of your brokerage and retirement accounts. One of my favorite features is its hidden fee tracker, which can report hidden fees that could otherwise go unnoticed. Learn More: Mint.com Review | Is It Worth It? Best desktop software: Quicken Quicken is one of the most trusted names in money management with over 30 years of experience serving over 17 million members. This financial planner enables you to perform a variety of tasks from one convenient and highly secure dashboard.  With Quicken, you can manage spending, view bills, track investments, and set personal finance goals all from one area. The company offers several paid options including Starter, Deluxe, Premier, and Home & Business.  There are also two mobile apps to choose from including the Mobile Companion app, which works with Quicken’s desktop service, and the independent Simplifi by Quicken app. Learn More: Simplifi Review | By Quicken Get Started With Quicken Best for building wealth: Wealthfront  Wealthfront is a nice option if you prefer a hands-off approach to investing and saving money. The app gives you two options: It can build an investment portfolio for you or let you handle asset allocation if you’re feeling ambitious.  Once you’ve set up a portfolio, the app will automatically manage your account using a robo-advisor. A robo-advisor strategically moves funds around automatically, rebalancing your portfolio periodically to maximize earnings and reduce risk.  In addition to providing portfolio management and financial advice, Wealthfront also offers a cash account you can use to pay bills, withdraw money from ATMs, and quickly invest extra cash. Wealthfront charges an annual advisory fee of 0.25% for all assets under management (AUM), and the fee is deducted monthly. There aren’t any fees for opening or closing an account, transferring, withdrawing, or trading. That said, there is a monthly advisory fee of $20.55 on average monthly balances of at least $100,000. There aren’t any fees for the Wealthfront Cash Account. However, there are additional fees for the Wealthfront debit card. Read the fine print to know what you’re getting into. Learn More: Wealthfront Review for 2021 Betterment vs. Wealthfront: Which Is Best For You? Best budgeting tool: You Need a Budget (YNAB) YNAB cuts out all the extra noise and solely focuses on budgeting. If you want to focus exclusively on budgeting, this app is worth looking into.  YNAB also offers educational resources and a shared budgeting component so you can budget with a friend, housemate, or family member.  This app is very user-friendly and makes it easy to visualize progress with simple charts and graphics. The only catch to YNAB is the price tag: The app costs $11.99 per month, or $84 annually if you pay in one lump sum.  While some users may find it hard to justify paying that much for a budgeting app, YNAB can pay for itself over the year if you use it to save effectively. If you’re interested in YNAB, my advice is to try the free 34-day trial. That way, you can see if you like it before you commit to spending money on it. Learn More: You Need a Budget Review 2021 | The Truth About YNAB You