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Time of India
07-07-2025
- Politics
- Time of India
Delhi HC seeks Centre's reply on AAP's plea over rent demand for party office
The Delhi High Court on Monday sought the Centre's response on a plea filed by AAP against the rent demand for its party office in Vithalbhai Patel House in the capital. Justice Sachin Datta issued notice to the Centre on AAP's plea filed in a case in which the party challenges the cancellation of the allotment of the suite for its office. The high court asked the authorities to file its reply within two weeks and posted the matter on July 22. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Kulkas yang belum Terjual dengan Harga Termurah (Lihat harga) Cari Sekarang After AAP's counsel urged the court to stay the June 20 reminder notice demanding the rent, the Centre's lawyer said "nothing" would happen till the next hearing. The Centre's counsel said there was no urgency in the matter as it was only a notice and they would be proceeding in line with the Public Premises ( Eviction of Unauthorised Occupants ) Act. Live Events AAP has claimed the decision of the Directorate of Estates , Ministry of Housing and Urban Affairs , was ex parte and passed without any showcause notice or a reasonable opportunity to be heard. Its counsel argued the Directorate of Estates allegedly cancelled the allotment of a double suite in Vithalbhai Patel House with effect from September 14, 2024, without any information and belatedly conveyed the same to the petitioner for the first time in a letter dated January 17. The petitioner handed over the possession of the premises on April 30, the counsel added. In a fresh plea, AAP said the Directorate of Estates on June 20 re-issued the bills in the form of a reminder through which the authorities have re-affirmed the arbitrary eviction of the petitioner from its state party office via the ex-parte cancellation order of September 14, 2024. AAP said in letters issued on March 6 and May 13, the authority demanded rent of over Rs 8 lakh for occupying the premises from the time period beginning the date of alleged cancellation. It, therefore, urged the court to stay the communication. "Directorate of Estates passed an ex parte order cancelling the allotment of the subject accommodation, that is, Double Suite at 514, VP House, New Delhi, to the petitioner, with an ultimatum of handing over its physical possession within a period of thirty days. This ex parte order has not been conveyed to the petitioner to date," AAP's plea said.
Time of India
07-07-2025
- Business
- Time of India
Jio BlackRock NFOs draw 67,000 retail investors, 90+ institutions
JioBlackRock Mutual Fund , which launched three new fund offers (NFOs), received an overwhelming response from retail investors, with over 67,000 individuals investing during the offer period. The fund also attracted investments from more than 90 institutional investors. According to the fund house, the participation from over 90 institutions reflects confidence in JioBlackRock Asset Management's value proposition, which combines data-driven investing with a digital-first approach. Also Read | Mutual fund SIP guide: How to invest for the rest of 2025 Best MF to invest Looking for the best mutual funds to invest? Here are our recommendations. View Details » by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Kulkas yang belum Terjual dengan Harga Termurah (Lihat harga) Cari Sekarang JioBlackRock Mutual Fund announced that it has received total investments of Rs 17,800 crore (USD 2.1 billion) across three cash/debt mutual fund schemes — the JioBlackRock Overnight Fund , JioBlackRock Liquid Fund , and JioBlackRock Money Market Fund . The new fund offer (NFO) for these three schemes was open from June 30 to July 2. Live Events 'The overwhelming response to our first NFO from institutional and retail investors is a powerful endorsement of JioBlackRock Asset Management's innovative investment philosophy, risk management capabilities, and digital-first approach. This is a strong start to our journey towards becoming a transformative force in India's evolving investment landscape, catering to all types of investors,' said Sid Swaminathan, Managing Director and CEO, JioBlackRock Asset Management. The NFOs launched by the fund house were among the largest in India's cash/debt fund segment, placing JioBlackRock Asset Management among the top 15 asset management companies by Debt Assets Under Management in the country, out of 47 fund houses. These initial offerings provide a broad range of investors with options to manage various elements of cash and short-term allocations, helping them put idle funds to work while meeting different liquidity, risk, and return objectives. Short-duration debt and money market mutual funds offer a solution for investors seeking yield through lower-volatility, short-term instruments—without locking into long-term commitments. They provide flexibility to meet liquidity needs and are useful tools for portfolio builders, corporate treasuries, and retail investors alike, the fund house noted. JioBlackRock Asset Management has also announced an Account Creation Initiative aimed at enabling retail investors to benefit from its systematic investment approach and participate in upcoming fund offerings. Also Read | Mazagon Dock and Radico Khaitan among 19 stocks which are upgraded in H2 CY25 Designed to simplify onboarding, the initiative allows customers to create investment-ready accounts within minutes through the JioFinance app. All a customer needs to do is download and/or open the JioFinance app, tap the 'Invest' tab at the bottom of the homepage, and begin the account creation and investment journey. Last week, the fund house announced the launch of mutual fund access on the MyJio app via its social media platforms, calling it a new era of investing. On social platform X, the fund house posted: 'A new era of investing has begun on the MyJio app.'
Time of India
07-07-2025
- Business
- Time of India
Market fairly valued, all eyes on credit uptick and demand revival: Alok Ranjan
"Earlier rural sector was not doing well. Now rural sector based on good monsoon and good crop, it is shaping up quite well and also urban sector is not doing that well but things will revive there also, festival season is coming, maybe two-three months from now," says Alok Ranjan , ITI Mutual Fund. What is your sense on the market? While there is a big question mark still on tariff. One was hoping that July 9th would finally be the grand finale, but does not seem to be the case. What cues do you think are going to push the markets forward now? Alok Ranjan: See, if you see valuations , so in terms of valuation markets is almost fairly priced. And if you see our GDP growth and inflation, then nominal GDP growth has come down below 10% and maybe it will be remaining around 9% to 9.5% because if you see, 6.5% GDP growth and 3% inflation, so that is what we are expecting. Because of that there is no demand pull in the market although government has done a lot and also RBI has cut interest rates, so a lot of things have happened. So going forward maybe it will have some positive impact. But as of now, we are just bracing for good days to come. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Kulkas yang belum Terjual dengan Harga Termurah (Lihat harga) Cari Sekarang Undo But markets are also looking forward to the earnings as well. This time not much expectation that they already building in. But give us your sense, any sectors that you are keenly watching out for which can really be the outperformers this time. Alok Ranjan: I mean consumer sector is going to do well and that is what we all have seen in the numbers also panning out. But what I am really watching keenly is banking and financial services sector because credit offtake has gone down and it has come down to almost 9% and it is very difficult to imagine that it can go down further. So, based on that, things will start improving from hereon and if you can see six months beyond from now, then maybe we will get credit offtake around 11% or 12% and that is what most of the banks also are talking about. So, depending on how do you want to position your portfolio, maybe financial services or sometimes banking can become quite attractive for one to two years perspective from hereon. But within the consumption basket, what is giving comfort to you right now? Is it the beaten down valuations at this point in time or is it the kind of numbers that the companies are already coming out with because for now we are just seeing that the companies are having a growth in single digit as well. So, any particular segment within the consumption basket you want to flag off. Alok Ranjan: I mean, if you see classical portfolio theory, it can be a good time to buy stocks when they are not looking very attractive and future looks better. So, if you see this consumption sector, it has not given much return in the last three years and also, if you see growth is almost bottoming out and if you see recent numbers, then things are looking much better than what it has done in the past, so based on that and also as I said, government's focusing is on consumption. Live Events Earlier rural sector was not doing well. Now rural sector based on good monsoon and good crop, it is shaping up quite well and also urban sector is not doing that well but things will revive there also, festival season is coming, maybe two-three months from now. So, based on all this, things can look much better than what they are looking right now. And, of course, valuation has corrected, over last two-three years if you see valuation, then it has corrected quite a bit. So, maybe it can be a good time to look into consumer sector. From your latest fact sheet, I understand that you are overweight on healthcare. Could you tell us within the healthcare basket, what are you liking at the moment? Is it hospitals? Is it diagnostics? Where are you placing your bets? Alok Ranjan: Hospitals are looking quite good. They have done quite well in the last two-three years and still the track is quite big where companies can perform and we have definitely got good talent in India and story is panning out quite well. Lot of patients are coming from outside because of our cost competitiveness and at the same time our quality is quite good. So, based on all this, healthcare sector is looking quite good and that is where we are overweight in the past and it will continue. Similarly, what is it that you would currently recommend avoiding in the market, where you do not see either earnings growth or there is valuation discomfort? Alok Ranjan: See, capital goods sector where right now we are overweight, it has done quite well in the last three-four months. It was kind of a contrarian bet and that has worked out well. But unless and until growth comes up, that is where things may be fairly priced now. Basically, my view is that one has to be bottoms-up in this market. There are not very clear pockets of undervaluation where one can just go whole hog and invest and remain overweight, at the same time there are not very expensive sectors also but there might be some pockets. Like it is also looking fairly priced. Capital goods, I mean, stock to stock one can take a call but valuations are definitely they have become quite rich. Let us be a little more specific now. In terms of your latest additions and deletions if you can just help us with some more sectors that you want to flag off because we did talk about FMCG, IT, and consumption basket. But other than that, any of your latest additions and deletions you want to mention? Alok Ranjan: I think cement sector is going to do quite well, so that is something looks good. Then, automobile sector, it has not done well, but going forward it is going to do much better. Interest rates are going to be down and also I am expecting maybe one or two more rate cut post October, November when in US also most possibly we are going to have some rate cuts. So, automobile sector can be looked into at current valuations. IT sector could be another opportunity but that is where again things are looking a bit circumspect and maybe we will have one or two quarters of lull based on whatever is happening in US, but that is where also we can get some opportunity because valuations have started kind of looking attractive.
Time of India
03-07-2025
- Business
- Time of India
SME multibagger Cool Caps Industries to trade ex-split and ex-bonus on Friday. Your last chance to buy today
Shares SME multibagger Cool Caps Industries will trade ex-split and ex-bonus on Friday, July 4 as the company has set this as the record date for its 1:5 stock split and 1:1 bonus shares . It will be the final opportunity for investors to buy the stocks to be eligible for additional shares as a result of sub-division and bonus issue. In its June 13 filing to the exchanges, Cool Caps had informed about fixing the record date as Friday, July 4, 2025. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Kulkas yang belum Terjual dengan Harga Termurah (Lihat harga) Cari Sekarang Undo Cool Caps Industries stock split There will be a sub-division of 1 fully paid-up equity share of face value of Rs 10 each into 5 fully paid-up equity shares of face value of Rs 2 each fully paid-up share. Ex-split is the date on which a stock starts trading at its new price and adjusted share quantity following a stock split. If the investor buys shares on or after the ex-split date , he will buy them at the split-adjusted price and quantity. A stock split increases the number of shares while reducing the price per share proportionally, without affecting the total market value of an investor's holdings. Live Events It will be its first split since its listing in March 2022. Cool Caps Industries bonus issue The company will issue bonus equity shares in the ratio of 1:1 i.e. 1 bonus equity shares of face value of Rs 2 each for every 1 equity share of face value of Rs 2 each fully paid-up share. Ex-bonus is the date on which a stock starts trading without the entitlement to a recently declared bonus issue. This means that if the investors buy the stock on or after the ex-bonus date, they will not be eligible to receive the bonus shares. To qualify for the bonus shares, investors must buy the stock before the ex-bonus date to be recognised as a shareholder on the record date. Companies declare bonus issues to reward shareholders by issuing free additional shares, typically in a certain ratio. On the ex-bonus date, the stock price adjusts downward to reflect the increased number of shares — but the total market value for each investor remains the same. Cool Caps Industries share price performance Its shares have yielded 137% returns over a 1-year period. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Time of India
25-06-2025
- Automotive
- Time of India
Sona Comstar looks east to diversify revenue mix
New Delhi: Auto parts maker Sona Comstar has firmed up plans to diversify operations and double the share of revenue to 50% from markets like Japan, China and India amid rising geopolitical tensions in the West. Speaking to ET, MD & group CEO Vivek Vikram Singh said, management structures were already in place for ensuring business continuity, even prior to the sudden demise of chairman Sunjay Kapur , and that the company will continue to implement its ongoing plans. Kapur's wife Priya Sachdev has been appointed as a non-executive director in the company, while Jeffrey Mark is the new chairman. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Kulkas yang belum Terjual dengan Harga Termurah (Lihat harga) Cari Sekarang Undo "The company has been professionally run since 2015. Sunjay had separated ownership and management roles early on. The family holds 28% stake but is not involved in operations on a day-to-day basis," said Singh. Live Events Though the US remains Sona Comstar's largest market, the company has also been getting several enquiries from customers in India in the past two months, said Singh, adding long-term plans are being firmed up to have a balanced revenue mix across geographies. "Over the last decade, demand for automobiles globally has come down. To de-risk our business, we have broadened our focus from automobiles to mobility. We are expanding to meet requirements in other sectors which use motors, transmissions and censors," said Singh. "Geographically too, we are aiming for a 50:50 split between eastern and western markets." While the Sona Group has factories in both India and China, it is considering opportunities to scale up operations to cater to the local market in the neighbouring country, he said. On potential opportunities for China given the global power realignment due to tariff wars between the US and China, Singh said, "Companies are looking at alternate production bases (away from China). India today has the capability to manufacture highly-engineered products at competitive costs, which makes it an attractive alternative destination." "We have received multiple RFQs in the last two months," he said, without elaborating. On importing rare earth magnets from China, Singh said the company has nearly a dozen applications pending.
