As was expected, Abdrn (formerly Standard Life Aberdeen) has finally sold off it’s balance 1.66% stake of HDFC Life. Pre-IPO in 2017, Standard Life (now Abdrn) held 35% stake in the Company. Adrdn has been monetising its investments in India as part of its plans at the parent level to shore up capital reserves in … Read more
5Paisa has demoted the current CEO, Prakarsh Gagdani to the position of Chief Business Officer (CBO) w.e.f. May 25, 2023. He will however continue to be the Whole-time Director of the Company. Prakarsh was the CEO since October 2015 i.e., the inception. Reason for this change seems to be only to make way for the … Read more
In a new report, the firm alleges Icahn Enterprises has used “inflated” asset valuations. The short seller has also targeted Adani Group and payments company Block this year. The shorter seller that took on Asia’s richest man is targeting the business empire run by another billionaire: Carl Icahn. Hindenburg Research, which earlier this year released … Read more
ICICI Prudential Mutual Fund has launched an innovation fund which will invest in domestic and foreign companies involved in either product or solution related innovation. The scheme will invest across market capitalisation and sectors. The new fund offer, which opened on April 10, will close on April 24. In a press release, the fund … Read more
Ankur Nagpal started his first company Teachable in 2013. He enjoyed running Teachable at first, but after he sold it, he was left feeling burned out. Nagpal thought he would never start another company again — until he founded Ocho Wealth. This as-told-to essay is based on a conversation with Ankur Nagpal, 34, who founded … Read more
Over $286 billion has made its way into money market funds in March, The FT reported. “We are seeing shifts into money market funds by every segment of investor,” Goldman Sachs said. Bank deposit outflows have risen to $17.5 trillion, and have notched $5.4 trillion at smaller banks. Depositors’ search for a safe haven has … Read more
360 One has completed acquisition of a controlling stake in Mumbai Angels. Mumbai Angels is one of the oldest and a leading player in the early investment space. Financial details of the transaction have not been disclosed. Reason for the subject transaction is obviously the synergy between Mumbai Angel’s network, wide experience in the investment … Read more
Nancy Pelosi’s portfolio slumped 20% last year, according to an Unusual Whales report published last week. That means the former ‘Queen of Stonks’ lagged the S&P 500 in 2022. But many other politicians – including Georgia Rep. Marjorie Taylor Greene – beat the benchmark index. Nancy Pelosi’s run as the “Queen of Stonks” appears to have … Read more