Author: Anshul

Skinos introduces Exciplex, a device for treating autoimmune skin diseases

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Skinos, a provider of aesthetic services, has unveiled its latest innovation, the Exciplex. This device, approved by the US Food and Drug Administration (FDA), represents a significant advancement in the treatment of autoimmune skin diseases.

The Exciplex is a handheld monochromatic Excimer Light platform designed to address a range of autoimmune skin conditions.

It emits light at 308nm, a wavelength optimised for treating chronic autoimmune skin diseases such as Vitiligo, Psoriasis, Alopecia Areata, Mycosis Fungoids, and Atopic Dermatitis.

Shruti Gupta, Medical Director & Dermatologist at Skinos emphasised its clinical efficiency and widespread recognition among dermatologists worldwide.

One of the key benefits of the Exciplex is its ability to provide quick and effective treatmens.

Conditions like Vitiligo and Psoriasis can often lead to social withdrawal and stigma, contributing to stress and anxiety among affected individuals.

Gupta highlighted the importance of Excimer Light Therapy in addressing these visible skin conditions,

The Exciplex offers numerous advantages for both patients and doctors.

It is the smallest Monochromatic Excimer Light platform available, allowing for the treatment of localized autoimmune skin conditions and dermatological indications.

With a spot size of 25 square centimeters, the device can target large areas while also accommodating smaller lesions using reduction tips.

Its lightweight and portable design, coupled with an intuitive touchscreen interface.

The Exciplex does not require any consumables, offering a cost-effective and environmentally friendly treatment option.

Gupta emphasised the device’s safety and effectiveness, citing numerous clinical studies supporting its efficacy in treating autoimmune skin conditions.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

India fast becoming a nation of investors from a nation of savers: Uday Kotak at CII event

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Uday Kotak, a banking industry veteran, emphasised the role of robust financial systems in propelling India’s economic growth trajectory. During his address at the Confederation of Indian Industry (CII) event, he shed light on India’s evolving financial landscape.

He said India has fast changed from a nation of savers to a nation of investors.

“For somebody like me who started his career 35-40 years ago when it was essentially a saver-borrower market and not an investor-issuer market, we used to see an export of Indian capital markets,” Kotak said.

While speaking at the CII Annual Business Summit 2024, Kotak lauded the global expansion of India’s mutual fund industry.

ALSO READ | India needs new capital market reforms, says Chief Economic Advisor

He emphasised the importance of nurturing and leveraging this growth to further fuel India’s economic development.

While acknowledging the importance of fostering growth, Kotak also underscored the need for stability within capital markets.

However, he cautioned against excessive risk-taking that could jeopardise long-term sustainability.

He stressed on the importance of striking a balance between growth aspirations and risk mitigation strategies.

Kotak identified the underdeveloped state of India’s debt markets as a key area requiring attention and investment. He called for expedited efforts to support these markets, recognising their role in providing alternative financing avenues and diversifying the financial landscape.

Furthermore, Kotak highlighted disparities in the tax treatment of different financial instruments, particularly noting the gap between taxes on equities and debt.

He advocated for a rationalisation of the tax framework to enhance efficiency and promote equitable treatment across various investment avenues.

He stressed on the need for timely policy interventions to support the growth and stability of India’s financial ecosystem.

In terms of risk management, Kotak stressed the importance of proactive measures to identify and mitigate potential disruptions swiftly.

He said there is a need for agile mechanisms that enable rapid response to emerging challenges.

He also cautioned against adopting a ‘zero accident policy,’ recognising the inherent risks associated with ambitious growth targets. However, he emphasised the importance of decisive action in addressing challenges and advancing India’s economic aspirations.

ALSO READ | India must increase share in global manufacturing, says FM Nirmala Sitharaman at CII event

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Bandhan Bank’s net profit falls on high provisions; lender declares dividend of ₹1.50 per share

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Private sector lender Bandhan Bank on Friday (May 17) reported a net profit of merely ₹54.6 crore, significantly lower compared to the ₹810 crore recorded in the same period last year. This drop in profit is notably below the anticipated ₹882.3 crore, as forecasted by a CNBC-TV18 poll.

The primary reason behind this plummet is attributed to higher provisions, which surged by 141% year-on-year (YoY) and 159% quarter-on-quarter (QoQ).

Bandhan Bank confirmed that it had technically written off loans amounting to ₹3,852 crore during the quarter.

The provisions charged to the profit and loss for the quarter totaled ₹1,774 crore.

Despite the decline in net profit, the bank saw growth in its net interest income (NII), which stood at ₹2,866 crore, marking a 16% increase compared to the previous year.

The net interest margin (NIM) for the quarter was reported at 7.6%, up from 7.3% last year.

Furthermore, there was a notable improvement in asset quality, with the gross non-performing assets (NPA) reducing to 3.8% from 4.9% last year, and the net NPA declining to 1.1% from 1.2%.

The Provision Coverage Ratio as of March 31, 2024, was recorded at 71.8%.

In terms of business growth, Bandhan Bank witnessed a 25% increase in deposits, reaching ₹1.35 lakh crore, while advances grew by 14.5%, standing at ₹1.25 lakh crore as of end-March 2024.

Despite operational challenges, the bank maintained a cost-to-income ratio of 48% for the quarter, which reduces to 45% when adjusted for one-offs.

The bank’s board has recommended a dividend of ₹1.50 per equity share, amounting to 15% of the face value of ₹10 each, subject to shareholder approval at the upcoming Annual General Meeting (AGM).

Once approved, the dividend will be disbursed to the shareholders.

Shares of Bandhan Bank closed at ₹181.20 on the BSE, marking a 0.86% increase in trading on May 17.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Fifteen years of NPS: How to generate ₹1 lakh monthly pension by investing in it

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The National Pension System (NPS), India’s flagship pension scheme, celebrates its 15th anniversary this month. Initially launched for government employees in 2004, NPS opened its doors to the broader Indian populace in 2009.

NPS provides subscribers with the flexibility to allocate their investments across different asset classes.

There are two primary NPS accounts — Tier 1 and Tier 2.

While Tier 1 is strictly a pension account, Tier 2 is a voluntary savings account associated with the Pension Regulatory Authority of India (PFRDA).

In an earlier conversation with CNBC-TV18.com, Kurian Jose, CEO of Tata Pension Management, stressed the advantages of NPS for long-term retirement planning.

“NPS leverages the power of compounding over the long term. As contributions grow and generate returns, this compounding effect significantly boosts the retirement corpus,” he shared with CNBC-TV18.com.

Generating a monthly pension of ₹1 lakh with NPS

Jose provides a detailed example to illustrate how individuals can secure a substantial monthly pension using NPS.

Consider a 30-year-old who starts investing ₹5,000 per month with a balanced allocation of 50% in equities and 50% in government and corporate bonds.

Assuming a 6% annual increase in contributions and a 10% return on investment, the corpus grows to approximately ₹1.85 crore by the time the investor turns 60.

Opting for a 100% annuity can provide a monthly pension of ₹1,05,292 for life.

In the event of the subscriber’s demise, the pension would continue for the spouse, and the principal corpus would be available to the nominee.

For those looking to secure a monthly pension of ₹50,000, the calculations can be adjusted.

By investing ₹2,500 per month from the age of 30, with similar assumptions, the corpus would grow to about ₹92.5 lakh, providing a monthly pension close to ₹50,000.

NPS offers various calculators, including those from Tata Pension Management, to help investors visualise their retirement corpus and potential pension.

For instance, a 40-year-old starting with ₹5,000 per month and increasing the annual contribution by 20% can achieve a corpus of nearly ₹2 crore, yielding a monthly pension of around ₹1,13,730, assuming a 6.5% annuity rate.

While these examples provide a general guideline, individuals should consider their financial situation and goals before investing.

NPS’s flexibility, tax benefits, and potential for high returns make it a compelling choice for retirement planning.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Guide for Gen Z investors: An expert tells us five best suited mutual funds

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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As the younger generation steps into the world of investing, navigating through various options and strategies becomes crucial. One of the fundamental steps in financial planning is defining short-term and long-term goals.

Gen Z investors should take the time to reflect on their aspirations, whether it’s purchasing a home, starting a business, or saving for retirement.

Common goals for this demographic include higher education, marriage, loan repayments, and retirement planning.

Budgeting

Creating a budget that incorporates regular expenses like housing, transportation, food, and loan repayments is vital, said Shweta Rajani, Sr VP & Head, Mutual Funds of Anand Rathi Wealth.

“Setting an income-to-expenditure ratio and an EMI-to-investment ratio can provide clarity in financial planning,” she said.

Start investing early

Investing early and wisely is key to growing wealth over time.

Seeking professional guidance or using reputable investment platforms can aid Gen Z investors.

As per Rajani, options like lump-sum or SIP investments can be chosen based on fund availability and income stability.

Yearly stepping up of SIPs can expedite goal achievement.

Choose asset classes wisely

Opting for asset classes with low correlation and a calculated risk via the right asset allocation is crucial.

For example, an 80:20 asset allocation (equity:debt) can be suitable for long-term goals with an expected return of 12%.

Gen Z investors might prefer digital gold, but it’s advisable to limit gold investments to 5% of the portfolio.

Sovereign Gold Bonds (SGBs) offer additional interest, making them a superior option compared to physical gold and gold funds.

Initial portfolio for Gen Z:

For individuals just starting their careers, allocating at least 20% of monthly income to disciplined SIP investments in mutual funds is recommended.

Diversifying across different categories like large, mid, and small-cap funds can balance risk and returns effectively.

While speaking to CNBC-TV18’s Sonal Bhutra, Rajani suggested these five mutual funds suited for Gen Z investors:

Conclusion

For Gen Z investors, starting early, embracing technology, diversifying investments, and staying informed are keys to building a strong financial future.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Vested Finance integrates ClearTax to simplify US investment tax filings

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Investment platform Vested Finance has announced the integration of ClearTax on its platform. With this, over 2.5 lakh investors with Vested accounts can leverage the ClearTax platform to include their US investments in their income tax return (ITR) filings, Vested Finance said.

An investor has to log in to Vested Finance platform, visit the ‘Tax Documents’ section, select ‘File with ClearTax,’ login / sign up on ClearTax, and then all the tax documents generated by Vested, including capital gains, schedule of Foreign Assets, schedule of Foreign Income will be auto captured on the ClearTax portal in INR as per income tax regulations.

The investor has to then provide additional details of their income tax return, such as personal details, other income sources, capital gains from different sources, etc., and then file their ITR within a few clicks.

ClearTax offers DIY and expert-assisted plans that investors can choose from based on their preferences.

Step by step process:

Step 1: On the Vested tax documents screen, the you can click on ‘File with ClearTax’.

Step 2: On the ClearTax window that opens up, sign up or log in if you have an existing ClearTax account.

Step 3: Once you log in or sign up, all your tax information will be auto-imported from Vested, and a summary will be shown. Voila!

Step 4: You can review or edit the tax information imported in the capital gains dashboard on ClearTax

Viram Shah, CEO, Vested, said, “Investing in global stocks, primarily via the US markets, is an increasingly popular diversification option for Indian investors. Our tax documents are one of the most favorite features of our customers. What started as providing simplified tax documents has now evolved into a reporting and filing journey with our ClearTax partnership.”

Vested is featured as one of their partner brokers on the Capital Gains dashboard on the ClearTax platform.

“With this collaboration, Vested’s users are well-positioned to leverage this opportunity as a pmoment in their financial journey and further equip themselves with the tools and resources they need to achieve their financial and compliance goals efficiently.” said Avinash Polepally, Senior Director (Consumer Business Head) at ClearTax.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

India’s largest MF house launches Automotive Opportunities Fund: Is it good bang for your buck?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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SBI Mutual Fund, India’s largest mutual fund house, has launched Automotive Opportunities Fund. This is an open-ended equity scheme following automotive and allied business activities theme.

The new fund offer (NFO) of the scheme will be available till May 31.

Investment objective and fund details

The investment objective is to generate long-term capital appreciation to unit holders from a portfolio that is invested in equity and equity related instruments of companies engaged in automotive & allied business activities theme from the domestic as well as global universe.

However, there can be no assurance that the investment objective of the scheme will be realised, SBI Mutual Fund said.

The fund will be benchmarked to the Nifty Auto TRI.

The fund managers for the SBI Automotive Opportunities Fund will be Tanmaya Desai and Pradeep Kesavan (dedicated fund manager for overseas securities).

Asset allocation

The fund will invest i.e., 80%-100% of its assets in equity and equity-related instruments of companies engaged in automotive and allied business activities theme (including equity derivatives), with the balance assets as per the following allocation:

Investment considerations

According to Shamsher Singh, Managing Director & Chief Executive Officer, SBI Funds Management, the Indian Automotive sector presents an attractive opportunity as domestic demand and auto exports have been drivers of growth.

“Electric mobility and rise of logistics & passenger transportation provide inflection points for the industry. The SBI Automotive Opportunities Fund is a wonderful opportunity for investors who would like to benefit from the growth of the entire automotive ecosystem as this sector is poised to take India to new places.” he said.

Seconding his views, D P Singh, Deputy MD & Joint CEO, SBI Funds Management said, “The Indian Automotive Industry is running in top gear as our country is a force to be reckoned in terms of production of vehicles and auto exports while our burgeoning domestic market, demands safer and premium vehicles. In addition, manufacturing of auto parts and ancillaries contribute to almost 30% of the manufacturing ecosystem providing wealth creation opportunities for investors in the long-term.”

He added that policy reforms and a defined roadmap with the industry will provide momentum and an opportunity for investors to benefit from India’s growing automotive ecosystem.

Conclusion

The SBI Automotive Opportunities Fund represents a targeted investment vehicle for those looking to gain exposure to the promising automotive sector.

With its structured asset allocation and expert management, it offers a unique opportunity to participate in India’s automotive growth story.

However, investors should consider it within the framework of their broader asset allocation strategy to ensure a balanced and diversified investment portfolio.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Zerodha Kite launches ‘Notes’ feature to help investors track stocks: How to use it?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Nithin Kamath-led Zerodha has introduced a new feature called ‘Notes’ on its Kite platform. This is aimed at helping users keep track of why they are monitoring specific stocks.

This feature allows clients to add personalised notes for each instrument they add to their marketwatch.

On the social media platform X, previously known as Twitter, Zerodha said, “You can easily add a quick note about why you are interested in a stock right in your marketwatch.”

Introducing notes on Kite web.

At any given point in time, you may be tracking multiple stocks for different reasons. Even if you add the stocks on your marketwatch, it’s hard to remember all the reasons why you added them. Now, you can easily add a quick note about why you are… pic.twitter.com/Su7AKm34Ip

— Zerodha (@zerodhaonline) May 14, 2024

The ‘Notes’ feature is currently available on the Kite website and will soon be rolled out to the Kite app.

This tool will enable users to write specific reasons for tracking each stock, such as “Check after lunch” for State Bank of India, directly in their marketwatch.

These notes can be revisited later, providing context and aiding in decision-making.

Nithin Kamath also highlighted the utility of this new feature in a tweet: “Have you checked out the notes feature on Kite Web?”

Have you checked out the notes feature on Kite Web? pic.twitter.com/4gTcGJN4vX

— Nithin Kamath (@Nithin0dha) May 14, 2024

He emphasised that the feature will help users by allowing them to remember the specific reasons for adding instruments to their marketwatch.

How to use the Notes feature on Kite:

Adding a Note:

Step 1: Click on the ⋯ (more options) next to the instrument.

Step 2: Select ‘Notes.’

Step 3: Type out the reason for adding the instrument.

Step 4: Click on ✓ to save the note.

Hiding Notes:

Step 1: Go to ‘Settings.’

Step 2: Unselect ‘Show notes.’

Users can save notes by pressing Ctrl + Enter and can close them with the ✖ or Esc key without saving changes.

However, if an instrument is removed from the marketwatch, the corresponding notes will also be deleted and will not reappear even if the instrument is added again.

Each note can contain up to 512 characters.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Kotak Mahindra Life Insurance declares 20% higher bonus for over 7 lakh policyholders

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Kotak Mahindra Life Insurance has announced a bonus of ₹1,007 crore for more than 7 lakh eligible policyholders for FY 2023-24. This is the 23rd consecutive year that Kotak Life has declared a bonus on participating products.

The bonus declared is 20% higher than the bonus amount of FY2022-23.

Participating plans provide policyholders with profit-sharing benefits in the form of bonuses.

This announcement follows a recent trend among major life insurance companies in India declaring substantial bonuses.

Just days earlier, on May 15, HDFC Life announced its highest-ever bonus of ₹3,722 crore, benefiting over 22.23 lakh policyholders.

Last month, Bajaj Allianz Life declared its all-time high bonus of ₹1,383 crore for over 11.66 lakh policyholders for FY 2023-24.

Understanding life insurance bonuses

Life insurance bonuses are additional amounts declared by life insurance companies on participating policies.

These bonuses are essentially a share of the profits made by the insurer, distributed among policyholders.

They come in various forms, such as reversionary bonuses, which are added to the policy’s sum assured, and terminal bonuses, which are paid out at the end of the policy term or on the death of the policyholder.

Who benefits?

Policyholders with participating plans benefit from these bonuses.

These plans allow them to share in the company’s profits, thereby enhancing the value of their insurance cover over time.

The declared bonuses increase the policy’s maturity or death benefit.

This profit-sharing aspect makes participating plans a popular choice for those looking for both protection and a steady accumulation of wealth.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow