Elon Musk has overtaken Bill Gates as the world’s second-richest person. His net worth is now $128 billion. Musk’s wealth has been on a steady climb this month: Tesla’s market cap soared as high as $498 billion Monday as it is set to join the S&P 500 in December. The jump in Musk’s net worth … Read more
An updated effort to attract long term capital towards a sector that never seems to get enough of it !
India’s macroeconomic troubles are attracting a new wave of global investors betting they can eke out profits from the rising number of capital-starved businesses struggling to stay afloat. Some global heavyweights like Apollo Global Management Inc. and Oaktree Capital Group have either struck recent India deals or scaled up their teams in the country in … Read more
Warren Buffett’s Berkshire Hathaway sold its Costco position after investing more than 20 years ago, a filing revealed this week. The billionaire investor’s company grew its stake in the big-box retailer from 355,000 shares worth $32 million in 1999, to 4.3 million shares worth $1.3 billion in June of this year. The sale is a … Read more
Adani Green Energy’s record $6 billion solar power project announced in June has no guaranteed customer, its deal with India’s main solar-adoption agency shows, and may expose the company to higher financial risk. Shares in the firm, controlled by billionaire Gautam Adani, have soared three-fold since the signing of the 8 gigawatt (GW) multi-plant deal, … Read more
The government’s move to allow primary or first sale of housing units costing up to Rs 2 crore at a price 20 per cent below the stamp duty circle rate would enable real estate developers to liquidate their unsold inventory and also benefit homebuyers, the finance ministry said on Friday. The Aatmanirbhar Bharat 3.0 package … Read more
Info Edge on Friday said its investee company Zomato has raised $195 million (about Rs 1,455.4 crore) in funding from six investors including Luxor, Kora and Steadview, valuing the online food ordering platform at $3.6 billion. “Zomato Pvt Ltd has closed a primary fundraise of $195 million from six different investors…The transactions valued Zomato at … Read more
The popular momentum trade that involves buying market winners and selling losers suffered its largest one-day outflow in over three decades last week Monday. This dramatic shift marked a departure from stocks geared towards working from home, and reflected investors’ excitement about an effective vaccine. But Peter Tchir, the head of macro strategy at Academy … Read more
Jefferies says profit margins are indicating at least one extra quarter of improvement is ahead for stocks. The “shock drop” in margins in the second quarter is rebounding just as quickly as the third quarter earnings did, the bank’s equity strategist said. He added that the lack of a blue wave election outcome and subsequent … Read more