Here are the top personal finance news of the day:
The Reserve Bank has given 3 times more dividend to the government in FY23 than in the preceding fiscal. For FY23, the RBI has given a dividend of more than 87,000 crore rupees. This will help the Modi government in lowering its fiscal deficit. Such a high dividend payout may also draw opposition’s ire. It has also helped government in achieving non-tax revenue of the government for entire of previous fiscal year.
Adani Group Cos on high gas after SC panel breather
Shares of Adani group stepped on the gas on bourses. Adani Enterprises, Adani Ports and Adani Total Gas were up by more than 3%. Adani Transmission on other hand flew by 5%. Likewise, most of other group companies also closed in green on Friday. The reason being report of the Supreme Court panel which said it was not possible to conclude if there has been regulatory failure on stock price manipulation allegations. The Supreme Court has given time till August 14, 2023 to file its final investigation report on Hindenburg’s allegations against the Adani Group.
No WhatsApp calls without SIM
WhatsApp will soon be able to run only on the same phone where the linked SIM card is inserted. WhatsApp is considering bringing an update soon to introduce the SIM binding feature. The government has asked WhatsApp to bring the SIM binding feature. SIM binding refers to connecting a device like a smartphone with a SIM card. Currently, this technique is widely used by banks. Banking apps or payment apps like PhonePe and Google Pay work on the same phone that has a SIM card connected to a bank account. This technique is used for security purposes. With this new feature, WhatsApp will be able to prevent the increasing incidents of fraud through fake phone numbers. In recent days, several cases of fraud have come to light using cloned and fake international numbers. Such instances of fraud will be restricted with this new feature
Users can now share voice status: WhatsApp
On a lighter note, there is a new way to share your status on WhatsApp.
Many users in India have got messages that they can share their status simply by recording and sharing voice messages. This new feature is known as voice status. They can also choose who can see their status updates. Users can even hide their status update from whomever they don’t want to share with. So, express your status privately, speak freely. And let the world hear your voice.
JP Morgan overweight on SBI with Rs 720 target price
After SBI’s March quarter results beat analyst estimates, let’s see how brokerages have placed their bets on the counter. Motilal Oswal and Nirmal Bang have a buy call on the counter. Motilal Oswal has given a target price of 700 rupees on the counter. Morgan Stanley and JP Morgan are overweight on the counter, with later giving a target price of 720 rupees. On Friday, the scrip closed almost 2% higher at 575 rupees.
SEBI mulling uniform expense ratio for all mutual funds
Good news for mutual fund investors. Unitholders may soon have to pay lower expense ratio as capital market regulator is planning to implement uniform expense ration for all mutual fund schemes. Due to which some schemes will have to lower the expense ratio to comply with SEBI’s proposed changes. With uniform expense ratio, investors will stand a chance to earn higher return on their investments.
What is wrong with BLS International Services?
BLS International Services promoter sold more than 2% stake
BLS International Services is into is into visa and consular services. Diwakar Aggarwal is the promoter who has trimmed his stake in the company. He sold shares at an average price of 175.24 rupees apiece. Selling of shares by promoter is not considered good for any company. On Friday, the scrip dipped in red and closed at 174 rupees.
Make UPI transactions on Nokia 105, Nokia 106 feature phones
Users of features phones of Nokia will now be able to make UPI transactions. The Government was working on such a technology, which would enable citizens to make UPI transactions on feature phones as well. Now, customers of Nokia will be able to make such types of transactions on two of its features phones. These are Nokia 105 and Nokia 106. Price of Nokia 105 starts at 1,149 rupees. While, Nokia 106 is priced slightly higher at 1,549 rupees.
Kabira Mobility’s latest E2W’s expected price at Rs 3.15 lakh
Kabira Mobility has unveiled a new electric two wheeler at expected starting ex-showroom price of 3.15 lakh rupees in Delhi. The all new electric bike KM5000 can run at a top speed of 188 km per hour. Deliveries are expected to commence in 2024. It will give a range of 344 kilometres on single charge. Owner will be able to charge the cruiser electric bike from 0 to 80 per cent in less than two hours. Goa-based electric vehicle startup Kabira Mobility has tow other bikes plying on the roads of the country, which are KM3000 and KM4000
Bajaj Allianz rolls out India’s first ULIP Small-Cap fund
A new opportunity for investors is available in the market where their money will be invested in shares plus they will also get comfort of insurance. Bajaj Allianz has rolled out India’s first ULIP Small-Cap fund. The scheme will track Nifty Small Cap 100 index. The fund will invest in companies with competitive advantage, good corporate governance, high ROE and ROCE, robust free cash flow and attractive valuations. Minimum 60% will be invested in small cap stocks. The NFO ends on May 23, 2023.
