Flow of Money

State Street, a US financial services firm, said flows into US equities were close to the highest they have been in 12 years. State Street’s information counts a lot because it is in the vantage position of being able to track the buying and selling of institutional investors, since it holds $12 trillion in assets as a custodian. Monthly flows into US stocks were in the 98th percentile,...

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A Fairy-tale Career Goes Off-Axis

By leaving succession planning till the last moment and quitting abruptly, did Dr PJ Nayak let down his beloved Axis Bank and his colleagues?

Almost everybody who has ever interacted with Dr PJ Nayak will profess enormous respect for him, vouch for his uncompromising integrity and admire his professionalism and business acumen. He was an extremely well-regarded IAS officer and, later, an...

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L&T full year net profit up 29% on improved margins from engineering, construction
Larsen & Toubro Ltd (L&T), India's largest engineering and construction company, reported a 29% higher full year net profit, before exceptional items, on improved margins from engineering and construction segments.

For the full year to end-March, L&T's net profit, excluding the extraordinary and exceptional items, rose to Rs27.1 billion from Rs21.7 billion as total revenues,...

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