The FinTech Hub
Source: Live Mint Starting October 1, 2024, significant changes will be implemented in the taxation of share buybacks, shifting the tax burden from companies to shareholders. Companies are taxed at 23.296 per cent on buyback transactions, covering surcharges and cess, while shareholders face no tax on the buyback proceeds. Under the new rules, buyback proceeds…
Source: Live Mint The S&P 500 was 1.6% lower in midday trading and heading for its worst week since March 2023. The Dow Jones Industrial Average was down 367 points, or 0.9%, as of 11:55 a.m. Eastern time, after flipping an early gain of 250 points. The Nasdaq composite sank 2.4% as Broadcom, Nvidia and…
Source: Live Mint New Delhi: Sarvam and Adya.ai are two of India’s newest startups targeting the red-hot generative artificial intelligence market, but they are also among a new breed of ventures looking beyond large language models like ChatGPT. The reason: industry-specific applications are easier to monetise and help avoid competition with AI giants. For Sarvam,…
Source: Live Mint Beta measures the volatility, or systemic risk, of a security or portfolio compared to the market. For instance, a company operating in a cyclical industry may carry some specific risks. The company’s stock, therefore, may be more volatile than the overall markets and hence have a high beta. The same may be…
Source: Live Mint Bajaj Housing Finance IPO: Bajaj Housing Finance has raised ₹1,758 crore from anchor investors ahead of its IPO subscription opening for bidding. The non-banking financial company (NBFC)’s initial public offering (IPO) is all set to hit the D-Street for its three-day subscription on Monday, September 9, and will close on September 11….
Source: Live Mint Silicon Valley’s tech bros are having a difficult few weeks. A growing number of investors worry that artificial intelligence (AI) will not deliver the vast profits they seek. Since peaking last month the share prices of Western firms driving the AI revolution have dropped by 15%. A growing number of observers now…
Source: Live Mint Are you prompt in paying rents to your landlord? If you are consistent with rent payments and live in Mumbai, you would be able to avail loans on that basis alone soon. Regular payments would also earn rewards, a rent credit score and a Residence Card (R-Card) that would store all the…
Source: Live Mint Tolins Tyres Ltd, on Friday, said that it has secured ₹69 crore from anchor investors before its initial public offering opens for public subscription. The anchor investors who have been allocated shares include BofA Securities Europe SA, NAV Capital VCC, Chhatisgarh Investments, Ashika Global Securities, Moneywise Financial Services, Vikasa India EIF I…
Source: Live Mint Zomato has stopped using AI-generated food images. Artists and several others have also come out against such images. While there might be a compelling case for AI-generated images in some instances, platforms have to ensure transparency. Mint explains: Why did Zomato ban AI food images? It was in response to customer complaints…
Source: Live Mint Resourceful Automobile’s IPO, for instance, attracted ₹4,800 crore in bids for a ₹12 crore issue, and Travels & Rentals offer received ₹7,075 crore for a ₹12.4 crore issue. HOAC Foods India and Magenta Lifecare saw 1,963 and 1,002 times oversubscription, respectively, earlier this year, even as their issue size was just ₹5.10…
