Kuwait fire tragedy: 41 Indians among 49 killed, PM Modi expresses grief
A devastating fire engulfed a multi-storey building housing foreign workers, predominantly Indians, early on June 12, resulting in the tragic deaths of at least 49 people and injuring more than 50, officials reported. The blaze erupted in the six-storey building in the Mangaf area of Kuwait's southern Ahmadi Governorate. A government agency for Keralites living outside the state said it had been told by the Indian community in Kuwait that 41 Indians, including 11 from Kerala, had died in the fire. Read more here
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This smallcap stock surged over 9% on one-euro acquisition; check out
Shares of Camlin Fine Sciences surged 9.7 percent to Rs 113 per share on June 12 after its Mexico-based wholly owned subsidiary Dresen Quimica acquired complete stake in Belgium-based Vitafor Invest NV for just one euro. With today's rise, the stock of this food grade antioxidants maker has surged over 21 percent in a week. However, it has tumbled 18 percent so far this year, as against 7 percent rise in the benchmark Nifty 50 index. Read more here
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Prestige Estates seeks up to Rs 20,000-cr valuation for hospitality biz IPO, appoints bankers
Prestige Estates Projects has appointed JM Financial, JP Morgan, and CLSA as bankers for the initial public offering (IPO) of its hospitality business, hinting at the launch of its IPO soon, a report said on June 12. The top real estate player is looking to raise Rs 2,000 crore to Rs 3,000 crore through the IPO, sources aware of the development told CNBC-TV18. The Bengaluru-based firm is eying a valuation of Rs 17,000 to Rs 20,000 crore for its hospitality arm, according to the report. Details here
Index mutual funds grab investor attention; here’s how to get the best out of them
Investors looking at market-linked returns, reduce the chances of underperformance and not wanting fund manager’s involvement can consider index funds. Index funds with low tracking error and low expense ratio are preferred investment options. Read here
How to claim pre- and post-hospitalisation expenses under health covers
Insurance companies usually define the specific number of days for which pre-hospitalisation and post-hospitalisation expenses can be claimed, and these periods may vary depending on the insurer and the specific policy, plan, sum assured amount and so on. Read more here
Edelweiss's Radhika Gupta draws 3 career & investing lessons from Roger Federer's Dartmouth speech
Edelweiss Mutual Fund Managing Director Radhika Gupta recently praised tennis legend Roger Federer’s speech at Dartmouth College in a tweet, calling it a “heartwarming 25-minute watch.” Gupta admired Federer’s simple, thoughtful, and vulnerable delivery, noting that the tennis lessons he shared apply deeply to both careers and investing. Details here
