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New Delhi, Feb 4 (IANS) Focus on the rural economy in the budget has been waning over the years and in such a scenario a revival of the rural economy would take time, <keyword id="45949" type="General" weightage="100" keywordseo="jm-financial" source="Orion">JM Financial</keyword> said in a report. In the absence of a specific focus on the rural economy in the <keyword id="6360189" type="General" weightage="50" keywordseo="union-budget" source="Orion">Union Budget</keyword> for 2023-24, analysts don't see immediate triggers for revival in the rural economy. Moreover in the absence of specific or enhancement of allocation towards the rural economy, we believe that the rural environment would have to revive on its own. Hence we would view businesses dealing with price sensitive low ticket items as less likely to benefit, JM Financial said. An attempt is made to make the new tax regime more attractive after getting a low response in FY23, however we believe the benefits in the form of tax saving on enhanced no-tax limit (INR 0.2mn) is unlikely to spur demand in a meaningful manner, JM Financial said in a report. Unlike the anticipation by a section of the market, rural focus was missing in the budget announcements. The expectations of a populist budget was linked to 9 state elections in 2023, moreover with FY24 being the last full year budget before the general elections in CY24. However, we believe that the schemes relating to empowerment of women <keyword id="75772" type="General" weightage="50" keywordseo="self-help-groups" source="Orion">Self Help Groups</keyword>, artisans and setting up of digital infra for agriculture and farmer centric solutions would provide opportunities in the rural economy to improve their livelihood, JM Financial said. Moreover, the budgetary allocation towards rural centric schemes like <keyword id="6361863" type="General" weightage="50" keywordseo="mgnrega" source="Orion">MGNREGA</keyword> and PM <keyword id="865803" type="General" weightage="50" keywordseo="gram-sadak-yojana" source="Orion">Gram Sadak Yojana</keyword> has been declining ever since FY22. Even the sentiments as collated by CMIE show a declining trend in the rural economy ever since June '22 whereas the sentiments in the urban economy seem to be holding up well, JM Financial said. In the absence of a specific focus on the rural economy, we don't see immediate triggers for revival in the rural economy, the report said. The latest rabi sowing has been progressing well even on a higher base of last year, except in the case of wheat. Subsidy burden has been the major pain point in India's fiscal, led by rising fertilizer and food prices. Fertilizer subsidy was increased by INR 1.1tn in FY23 over and above the budgeted figures of INR 1.05tn. Allocation towards fertilizer subsidy has been made to the extent of INR 1.75tn in FY24. We believe with easing inflationary pressures, the government could have limited the allocation to INR 1.4tn, as fertilizer prices have moderated by 40% from its peak. However, the geo-political situation is still in a flux and the government's higher allocation seems prudent at this juncture. Food subsidy has been pegged at INR 1.97tn (vs INR 2.9tn FY23RE), as the outlay would be reduced with the discontinuance of the PM Garib Kalyan Yojana. On an overall level, subsidies form 1.2% of GDP vs 1.9% in FY23RE. Past data indicates that the exuberance or otherwise relating to the budget day normalizes within a month in the equity markets. Moreover, a substantial positive performance in Nifty was witnessed in the week following the budget day only during FY16, FY20 and FY21. The personal income tax changes in the Union Budget affect many but the impact is low, Credit Suisse said in a report. The split of salary income by income groups shows that while the number of filings is mostly by low-income groups, the bulk of the taxes come from high income. 56% of the filers belong to the low-income group but they add to just 2% of the tax collected. People earning more than Rs 10mn are less than 1%, but they add to 10% of the tax collected, the report said. Inflows from small savings deposits have shrunk considerably. Small saving deposits for government have been declining, and at the current pace, can be 20% YoY lower for FY23. This may still be marginally better than budgeted, though these flows are generally larger nearer to the year-end. While bank deposit rates have risen considerably, NSSF rates remained low for most of FY23, were raised in Jan-2023. The Centre continues to remain dependent on small savings flows to fund the deficit, Credit Suisse said.

Revival of rural economy to take time in the absence of triggers: JM Financial

<ul class="summary-list"><li>Threads is great for now and has a bunch of cool people on it.</li><li>But Threads doesn't have BTS on the platform yet. </li></ul>Threads is great, but the truth is, it won't really have all the cool people on it until BTS deigns to sign up for accounts. This writer — a card-carrying member of the BTS ARMY — has been waiting for hours for just one member of the boyband to sign up.Hours later, and still nothing, not even from the group's official account.That pain has somewhat been assuaged by the fun posts on Threads from Sam Riegel, Marisha Ray, and Liam O'Brien — cast members of Critical Role, <a href="https://www.businessinsider.com/highest-paid-channel-on-twitch-critcal-role-2021-10">a top Twitch stream</a> this writer is also a big fan of. But BTS still isn't here.Jimmy Fallon, who's joined Threads, <a href="https://www.threads.net/t/CuVvELStPKe/?igshid=MzRlODBiNWFlZA==" target="_blank" rel="noopener">said it best</a>: we're patiently waiting. Twitter hasn't treated the group very well: <a href="https://www.businessinsider.com/bts-loses-blue-tick-wont-give-elon-musk-money-2023-4">It stripped the boys of their blue check mark</a>, per Elon Musk's purge of the platform's legacy verified accounts.But Threads likely won't get all members of the biggest boyband in the world on its platform. Two BTS members — Jin and JHope, are currently serving a mandatory period of national service in the South Korean military. And the band's youngest, Jungkook, deactivated his Instagram account a while back and barely used the app, to begin with, and <a href="https://www.businessinsider.com/threads-launch-meta-instagram-twitter-rival-mark-zuckerberg-elon-musk-2023-7">having an Instagram app is essential to make the leap to Threads</a>.That makes four guys who might still sign up — plus the band's official account. But at press time, no one pulled the trigger and tried "Threading" their thoughts on Threads. RM, Suga, V, and Jimin are still active on Instagram.RM, for one, often posts Instagram Story updates about CrossFit to his 44.6 million followers on the 'gram under the username rkive. <a href="https://www.instagram.com/p/CuKJHaRJ20S/?igshid=MzRlODBiNWFlZA==" target="_blank" rel="noopener">Suga's been active</a> on the platform too under the handle agustd, his stage name, blessing the BTS ARMY with post after post about his D-DAY world tour. And <a href="https://www.instagram.com/p/Cty0HzaLmvZ/?igshid=MzRlODBiNWFlZA==" target="_blank" rel="noopener">Jimin</a> and <a href="https://www.instagram.com/p/Ct9U4oPrIPq/?igshid=MzRlODBiNWFlZA==" target="_blank" rel="noopener">V</a> have graced us with the occasional fashion-forward snapshot from their fabulous lives on their Instagram accounts, j.m and thv. Tick tock, Mark Zuckerberg — Twitter currently has one thing you don't. And take it from me and the rest of the ARMY: Your social media platform can't be the best until it has BTS.

Threads isn't cool until BTS and Instagram users rkive, agustd, thv, and j.m activate their profiles

<ul><li>Prime time shows have over 60% of ‘co-viewing instances’ with families watching TV together. </li><li>TV in India has an unparalleled position as a family entertainment platform, both in terms of price as well as reach, said a <keyword id="45949" type="General" weightage="80" keywordseo="jm-financial" source="Orion">JM Financial</keyword> report. </li><li>Growth in <keyword id="1245953" type="General" weightage="20" keywordseo="ott" source="Orion">OTT</keyword> has expanded the overall video consumption, and has not come at the expense of <keyword id="1632453" type="General" weightage="80" keywordseo="linear-tv" source="Orion">linear TV</keyword>. </li><li>Urban youth with access to wired broadband and proclivity to watch international content are likely to shift exclusively to <keyword id="5293670" type="General" weightage="20" keywordseo="ott-platforms" source="Orion">OTT platforms</keyword>, the report said. </li><li>Low cost of pay TV and low wired broadband penetration can work against cord-cutting, the report said. </li></ul>For families across India, prime time is mostly spent in front of their television sets. According to JM Financial, prime time shows have over 60% of ‘co-viewing instances’ – and this is what will keep TVs running in India in spite of the proliferation of OTT, as per the report. In addition to the fact that 98% of Indian homes only have a single TV, low proliferation of wired broadband is also keeping people from making the total shift exclusively to OTT. While India has over 650 million mobile broadband users, it has only 18 million wired broadband connections. “Note, these 18 million connections include small and medium enterprises as well, leaving even lower connections for households. We believe these trends and facts suggest TV screens - and linear TV - will remain the mainstay of India’s family entertainment,” said the report named ‘In the eye of the storm’. It also said that growth in OTT has expanded the overall video consumption, and has not come at the expense of linear TV. Pay TV vs OTT vs Free Dish The cost of pay TV – that’s subscription-based TV viewing – is around $3 per month. In comparison, OTT subscription cost is at least 2.5 times that of pay TV. “TV in India has an unparalleled position as a family entertainment platform, both in terms of price as well as reach,” the report said. In the US, however, where subscribers are shifting away from pay TV to OTT – it’s the exact opposite. While pay TV is at around $100 a month, Netflix subscription plans start at $10 per month. Added to that, wired broadband penetration in the US is at 95%. In spite of the fundamentals that support the long-term prospects of linear TV, it is being hurt by many factors. The usual suspect is OTT, which has been chipping away the top-of-the-pyramid user base off pay TV, who are the best spenders. This is reflected in the 6% decline in pay TV subscribers between 2019 to 2021. During the same period, broadcasters’ subscription revenue declined by 13% and ad revenue too went down by 12% – hurt by lowered FMCG ad spends and pandemic-led troubles. FMCG contributes to 50% of TV ad spends. On the other end of the spectrum, the government's DD Free Dish, a free-to-air <keyword id="6411255" type="General" weightage="50" keywordseo="dth" source="Orion">DTH</keyword>, too has pulled away millions of subscribers. Against cord-cutting The JM Financial report, however, believes that there is reason to be sanguine. “TV screen’s dominance during prime time coupled with pay-TV’s low ARPU and wired broadband’s lower penetration in India work against cord-cutting,” the report said. Broadcasters have been withdrawing General Entertainment Channels or GECs from DD Free Dish. That could stem the migration of viewers from pay TV. Moreover, it also expects that receding raw material cost inflation and buoyant festive demand could boost ad-revenue growth starting in the second half of the current financial year. “Unlike the general perception, our analysis indicates TV has held on to its share of ad spend while digital has gained at the expense of other media. TV’s wider reach and India’s low ad-spend-to-GDP ratio mean significant headroom for both TV and digital ad-spend to grow,” the report said. Moreover, India still has close to 100 million non-TV households, which provides a long runway for growth. Where are ad volumes going? Ad volumes have been falling differently across channel genres. Free commercial time (FCT) in genres such as English movies and English niche fell sharply even over 2019-21— reflecting the impact of OTT on select genres. The ad volumes of English movie channels declined the steepest at 45% while English niche went down by 29% and that of music channels went down 19%. “Urban youth, the viewership base of English channels on TV, appear to have shifted to OTT with global, on-demand content. Following the same logic, there seems to be a small impact on Hindi GEC (-3% FCT over 2019-21) while <keyword id="42771" type="General" weightage="20" keywordseo="regional" source="Orion">regional</keyword> genres seem largely unaffected, as of now,” the report said. On the other hand, ad volumes grew in genres like news, Hindi movies, Marathi channels, Tamil channels, Kannada, Bengali and Malayalam. However, ad volume fall in English channels have little effect on overall growth in TV as it constitutes only 1% of overall TV viewership. Even as the urban youth with access to wired broadband, higher spending capacity, and proclivity to watch international and niche content are likely to cut the cords and shift exclusively to OTT platforms, there is a lot of juice left in the linear TV market. “With around 300 million households, a sprawling regional language market, and a diverse cultural background, India offers significant opportunities for all forms of entertainment to co-exist. We believe OTT, pay TV, and free-to-air channels will all co-exist in the country,” the report said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/prime-videos-four-more-shots-please-season-three-to-debut-on-october-21/articleshow/94701251.cms">Prime Video's 'Four More Shots Please!' season three to debut on October 21</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/flipkart-group-leads-e-commerce-festive-sales-meesho-is-second-largest-contributor-in-order-volume-redseer/articleshow/94701015.cms">Flipkart group leads e-commerce festive sales, Meesho is second largest contributor in order volume: Redseer</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/instagram-is-developing-a-nudity-protection-feature-to-block-unsolicited-nude-photos-in-dms/articleshow/94697784.cms">Instagram is developing a ‘Nudity Protection’ feature to block unsolicited nude photos in DMs</a>

Indians stick to TV for prime time and that's keeping them from cutting the 'cord'

Sajjan Jindal-owned <keyword id="146214" type="General" weightage="100" keywordseo="jsw-infrastructure" source="Orion">JSW Infrastructure</keyword> has filed preliminary papers with capital markets regulator Sebi to raise up to Rs 2,800 crore through an initial public offering (<keyword id="6354763" type="General" weightage="80" keywordseo="ipo" source="Orion">IPO</keyword>) to retire debt and support its expansion plans. JSW Infrastructure will be the third company of the <keyword id="144036" type="General" weightage="80" keywordseo="jsw-group" source="Orion">JSW Group</keyword> to be listed on the bourses after JSW Energy and JSW Steel. The ports business of the JSW Group filed the DRHP on May 9. Going by the draft papers, the IPO is purely a fresh issue of equity shares with no offer-for-sale (OFS) component, and the promoters will not be diluting their current stake through the issue. The company will use the proceeds to retire its debt as well as to fund its capacity expansion projects, as per the draft red herring prospectus (DRHP). JSW Infrastructure has an installed cargo handling capacity of 153.43 million tonnes per annum (MTPA) for multi-commodity cargo including dry bulk, break bulk, liquid bulk, gases and containers. As of December 31, 2022, JSW Infrastructure had a net debt of Rs 2,875 crore. The company had a profit after tax (PAT) of Rs 447.2 crore in October-December 2022-23 and Earnings Before Interest, <keyword id="6368033" type="General" weightage="50" keywordseo="taxes" source="Orion">Taxes</keyword>, Depreciation, and <keyword id="990685" type="General" weightage="50" keywordseo="amortisation" source="Orion">Amortisation</keyword> (EBITDA) of Rs 1,268.6 crore. JM Financial Limited, Axis Capital Limited, Credit Suisse Securities (India) Private Limited, DAM Capital Advisors Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, Kotak Mahindra Capital Company Limited, and SBI Capital Markets Limited are the book running lead managers. The equity shares are proposed to be listed on BSE and NSE. Besides, the Sajjan Jindal-owned JSW Group is also into cement, paints, venture capital and sports. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/receiving-calls-from-international-numbers-starting-with-254-84-63-report-and-block-say-experts/articleshow/100132580.cms">Receiving calls from international numbers starting with +254, +84, +63...; report and block, say experts</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/ibm-partners-with-nasa-to-monitor-natural-disasters-and-climate-change-using-ai/articleshow/100132462.cms">IBM partners with NASA to monitor natural disasters and climate change using AI</a>

JSW Infrastructure files draft papers; eyes ₹2,800 cr via IPO

Mumbai, Apr 7 () JM Financial Group has committed Rs 30 crore towards Covdi-19 relief measures under which it will give Rs 15 crore to the PM's relief fund and an equal amount will be contributed to work towards support for healthcare assistance to counter the pandemic."As the pandemic has emerged as a global challenge, we as socially responsible citizens and corporates must come together and contribute to combat the crisis. Together, with a collaborative vision and approach, we'll be able to overcome this unprecedented crisis," said group chairman Nimesh Kampani. *********Thyrocare slashes Covid testing prices *Leading lab chain Thyrocare has slashed its Covid test prices, offering a starting price of Rs 1,800 for hospitals to Rs 3,500 for individuals for home collections, and Rs 2,500 for group collections, effective Tuesday. A valid prescription from a doctor will be needed to book a test. Currently, the services at this cost are available within 300 km radius of its Mumbai lab. Soon it plans to start the collections nationally based on lockdown restrictions. Earlier the doorstep collection cost was Rs 4,500.The lab chain has also started mobile ambulance collection service at Rs 2,500.*****************Stempeutics Research, a group company of Manipal Education &amp; Medical Group, has partnered with a global consortium of cell therapy companies to seek European Commission funding to fight against the Corona pandemic.Under this partnership, Stempeutics will export its stem cell product Stempeucel for treating critically ill Covid patients with lung disease. First the product will be clinically tested and upon successful outcomes, it intends to export it on a regular basis. ********Anil Rawal is CEO of IntelliSmart* IntelliSmart Infrastructure, a joint venture of the government-run Energy Efficiency Services (EESL) and National Investment and Infrastructure Fund (NIIF) has appointed Anil Rawal as its chief executive. BEN MRMR

JM Financial commits Rs 30 cr to fight Covid

Mumbai, Jan 23 () JM Financial on Thursday reported a 14.6 per cent rise in its net income to Rs 157.5 crore for the December 2019 quarter, despite a muted growth in total income as its disbursals shrunk during the period.
 The net income during the December 2018 quarter was Rs 137.46 crore.
 The company's total income inched up 0.52 per cent to Rs 905.45 crore, the city-headquartered company said in a statement.
 Reflecting the crisis in the NBFC sector since September 2018 following the bankruptcy of IL&amp;FS and the resultant risk aversion to the sector, JM Financial saw its loan book steeply falling to Rs 12,662 crore in the quarter from a high Rs 16,136 crore in December 2018.
 Similarly, its gross non-performing assets (NPAs) and net NPAs rose almost three times to 1.56 per cent and 1.35 per cent, respectively, from 0.68 per cent and 0.57 per cent, respectively, in December 2018.
 "Given the overall challenging environment, we had a good quarter led by investment banking and wealth management businesses. We have significantly de-grown our wholesale book but retail mortgage presence has increased and we continue to grow that business. The distressed credit team is focused on recoveries," said Vishal Kampani, managing director of JM Financial Group.
 He said the investment banking, wealth management and securities business gained traction during the quarter and the pipeline for investment banking transactions continues to remain healthy.
 On the spike in bad loans, he said the company has managed to reduce the SMA2 (special mention account-2) numbers from 1.94 per cent of the portfolio to 0.73 per cent. This has mainly been a result of timely asset sales.
 As guided earlier, debt-equity and net debt-equity ratios stand at 1.78 and 1.36, respectively, he added.
 JM Financial's shares closed 5.36 per cent higher to Rs 107.20 apiece on the BSE, against the Sensex's gain of 0.66 per cent after four successive days of steep fall. BEN HRS

JM Financial net income jumps 14.6 pc in December quarter

Mumbai, May 6 () JM Financial on Wednesday reported a marginal 1.5 per cent rise in consolidated net income to Rs 130.6 crore for the three months period to March on a 6.12 per cent growth in revenue.The numbers would have been higher had it not been for a one-time provision of Rs 175 crore to deal with the uncertainties arising from COVID-19 pandemic, the company said in a statement.The company reported a total revenue of Rs 840.58 crore in the reporting quarter, registering a growth of 6.12 per cent over the same period previous fiscal, it said.For the full year, consolidated net profit declined 4.75 per cent to Rs 545 crore, while revenue slipped a marginal 1.3 per cent to Rs 3,453.55 crore.The numbers have been hit as the asset quality suffered during the year, with gross bad loans more than doubling to 1.65 per cent of the total book, compared to 0.68 per cent in March 2019 and net non-performing assets also more than doubled to 1.13 per cent from 0.55 per cent. The company said its SMA-2 (Special Mention Accounts) have increased from 0.73 per cent of the portfolio to 2.10 per cent of the portfolio during the quarter."The numbers take into consideration the impact of the pandemic and is captured in expected credit loss and fair value of investment. The group has taken gross provisions (including fair value loss) of Rs 175 crore on account of the COVID pandemic," the group's managing director Vishal Kampani said.While the past 18 months have been challenging for NBFC sector due to the stressed credit environment and slowing growth, the situation further worsened with COVID-induced national lockdown, he explained.Despite this, the company could maintain strong liquidity buffers and healthy leverage ratios that reflected in the cash/cash equivalent of Rs 3,412 crore as of end March and one of the lowest net debt-equity ratio of 1.04x, he added.The AUM (assets under management)/AUA (assets under administration) of wealth management business rose to Rs 44,883 crore excluding custody assets, up from Rs 41,886 crore in March 2019 but lower than Rs 46,886 crore as of December 2019.During the quarter, the average daily trading volume stood at Rs 13,894 crore.The total mortgage lending book, including the loan book of JM Financial Credit Solutions and JM Financial Home Loans stood at Rs 7,651 crore.As of end March, the consolidated loan book stood at Rs 11,530 crore, distressed credit business AUM at Rs 11,490 crore, wealth management AUM Rs 44,880 crore, and mutual fund AUM at Rs 6,110 crore.In the run up to the earnings announcement, the JM Financial counter rallied 10 per cent to close at Rs 62.80 on the BSE, whose benchmark Sensex gained 0.74 per cent. BEN BAL

COVID-19 provision takes toll on JM Financial, reports almost flat net at Rs 130.6 cr

<keyword id="6355725" type="CITY" weightage="100" keywordseo="Tata-Group">Tata Group</keyword>’s investment holding company <keyword id="46894" type="PERSON" weightage="100" keywordseo="Tata-Sons">Tata Sons</keyword> has bagged a whopping Rs 10,278 crore from the <keyword id="6357585" type="CITY" weightage="100" keywordseo="Tata-Consultancy-Services">Tata Consultancy Services</keyword> (<keyword id="6357150" type="CITY" weightage="100" keywordseo="TCS">TCS</keyword>) share buyback, as suggested by regulatory filings. It was in February that TCS, India’s leading software services exporter, had approved the Rs 16,000-crore buyback because of increasing pressure from investors for returns, given that the IT sector had started to show signs of slow growth. The buyback was managed by <keyword id="44473" type="CITY" weightage="100" keywordseo="Citigroup">Citigroup</keyword> Global Markets and JM Financial and was carried out through a fortnight-long tender offer that was open from May 18th to May 31st. In the given period, TCS bought back 561,40,350 equity shares, which represents about 3% of its total equity. On its part, Tata Sons tendered 360,63,787 shares at Rs 2,850 per share and was the biggest participant in the buyback. Other large shareholders that took part in the buyback were the Government of Singapore (2.1%), <keyword id="4627291" type="COMPANY" weightage="100" keywordseo="copthall-mauritius-investment">Copthall Mauritius Investment</keyword> (1.17%), and Europacific Growth Fund (1.01%). Tata Sons is the biggest shareholder in TCS, holding more than 73% stake, and requires funds to invest in other subsidiaries like <keyword id="42747" type="CITY" weightage="100" keywordseo="Tata-Motors">Tata Motors</keyword> and <keyword id="6357147" type="CITY" weightage="100" keywordseo="Tata-Steel">Tata Steel</keyword>. It also has to pay Japanese telecom company NTT Docomo a sum of $1.17 billion to resolve the recent dispute. (Image source The Quint)

Tata Sons bags Rs 10,278 crore from TCS buyback

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Screenshot/FacebookA screenshot from "Heart of Texas," a Russia-linked Facebook group that has since been shut down.</div></div></div>A Russia-linked Facebook group attempted to organize a series of anti-immigrant, anti-Hillary Clinton rallies across Texas last November, three days before the election and months after Russian operatives used the social-media platform to organize an anti-refugee resettlement protest in rural Idaho.The group, called "Heart of Texas," had over 225,000 followers as of last summer but was shut down last week as part of Facebook's takedown of accounts and pages "affiliated with one another and likely operated out of Russia," a Facebook spokesman told Business Insider on Wednesday.<a href="https://twitter.com/cjcmichel" target="_blank" rel="noopener noreferrer">Casey Michel</a>, a journalist who has spent years <a href="http://www.politico.com/magazine/story/2015/06/vladimir-putin-texas-secession-119288" target="_blank" rel="noopener noreferrer">tracing US secession movements</a> to Russia, <a href="https://extranewsfeed.com/how-russia-created-the-most-popular-texas-secession-page-on-facebook-fd4dfd05ee5c" target="_blank" rel="noopener noreferrer">tracked the group's activity</a> throughout the election and determined it was more than just a platform for far-right Texas secessionists.Several signs pointed to the page being a Russian influence operation, including a lack of contact information, no ads, and a corresponding Twitter account that was created in November 2015 - right around the time Facebook experienced a surge in Russia-linked, fake accounts, Michel said. Its "about" section read only: "Texas's the land protected by Lord."Perhaps the most revealing clue that "Heart of Texas" was not a project spearheaded by dissatisfied Texans was the language. The memes posted in the group contained typos, grammatical errors, and a general unfamiliarity with basic English phrases. Many didn't make any sense at all:<div class="KonaFilter image-container display-table"><div><div class="image on-image">Screenshot/Facebook</div></div></div>In late October, however, the group transformed from a nativist, anti-Clinton meme machine to an organizing force when it created a Facebook event for a "Texit statewide rally" titled "Get ready to secede!"The event has since been removed from Facebook, but it still appears as <a href="https://www.google.com/search?q=%22get+ready+to+secede!%22%2B%22heart+of+texas%22&amp;oq=%22get+ready+to+secede!%22%2B%22heart+of+texas%22&amp;aqs=chrome..69i57.6782j0j7&amp;sourceid=chrome&amp;ie=UTF-8" target="_blank" rel="noopener noreferrer">the top result on Google</a> using certain keywords. A cached version of the group's announcement of the event on Twitter - where its account was also suspended - <a href="https://webcache.googleusercontent.com/search?q=cache:_TqXP7K4GUYJ:https://twitter.com/itstimetosecede/status/789113593790738432+&amp;cd=2&amp;hl=en&amp;ct=clnk&amp;gl=us">can still be viewed.</a> <div class="KonaFilter image-container display-table"><div><div class="image on-image">Screenshot/Facebook</div></div></div>The event called on Texans to protest "establishment robbers" and "higher taxes to feed undocumented aliens" in major cities like Fort Worth, Dallas, San Antonio, Houston, and Austin. It further claimed that a "Killary Rotten Clinton" victory would lead to an influx of "refugees, mosques, and terrorist attacks." The page also created "an approximate map" for the rallies and explained, in awkward English, "what will be happening" at the event."Signing the petition, delivering speeches, Texas flags and signs waving, open carry, getting media coverage, producing photo and video content to spread on social media," the post said. "This is how we'll bring more awareness about our real needs. God bless y'all!" <div class="KonaFilter image-container display-table"><div><div class="image on-image">Screenshot/Facebook</div></div></div>It is unclear how many people actually showed up to the protests. The group's efforts came on the heels of a similar Russian effort disclosed by <a href="http://www.thedailybeast.com/exclusive-russia-used-facebook-events-to-organize-anti-immigrant-rallies-on-us-soil" target="_blank" rel="noopener noreferrer">The Daily Beast</a> earlier this week: an anti-Muslim protest in Twin Falls, Idaho, titled "Citizens before refugees." The group that organized the protest, which called itself "SecuredBorders," was also shut down as part of Facebook's purge of Russia-linked pages. It had roughly 100,000 fewer followers than "Heart of Texas" when it was shuttered. SecuredBorders and Heart of Texas both linked refugees to crime and posted Islamophobic memes and photos."A lot of different people are working on the Russian active measures problem from a lot of different directions, and they all consistently find examples of the same general content being promoted -- highly divisive anti-immigrant and anti-refugee rhetoric and activity," said JM Berger, an expert on extremism and influence operations who helped build a <a href="http://dashboard.securingdemocracy.org/" target="_blank" rel="noopener noreferrer">digital platform</a> that tracks Russian propaganda in real time."At this point we have a lot of independent sources pointing to the same conclusion," Berger said.Former FBI agent Clint Watts, who spearheaded the platform, told The Daily Beast that the Facebook events organizing protests were "the next step" in Russia's influence operations."The objective of influence is to create behavior change," Watts said. "The simplest behavior is to have someone disseminate propaganda that Russia created and seeded. The second part of behavior influence is when you can get people to physically do something." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/president-obama-said-speak-out-dreamers-were-targeted-daca-trump-press-conference-2017-9">2 days before Trump's inauguration, Obama said he would speak out if 'Dreamers' were targeted</a></h3> <div> </div> </div>

Shuttered Facebook group linked to Russia organized anti-immigrant rallies across Texas

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Al HayatAn ISIS propaganda video shows President Barack Obama, Vice President Joe Biden, and Secretary of State John Kerry.</div></div></div>During the Saturday-night debate on ABC News, Democratic front-runner frontrunner Hillary Clinton <a href="http://www.businessinsider.com/hillary-clinton-donald-trump-isis-recruiter-videos-2015-12">claimed that ISIS is showing people videos</a> of Donald Trump "in order to recruit more radical jihadists."She then dubbed Trump, the Republican presidential frontrunner, "ISIS' best recruiter."Pundits debated the claim all weekend, and <a href="http://www.nytimes.com/interactive/2016/us/elections/fact-check.html">several</a> <a href="http://www.politifact.com/truth-o-meter/statements/2015/dec/19/hillary-clinton/fact-checking-hillary-clintons-claim-isis-using-vi/">fact-checkers</a> <a href="http://www.usnews.com/news/politics/articles/2015-12-20/ap-fact-check-glossed-over-realities-in-democratic-debate">ruled</a><a href="http://www.politifact.com/truth-o-meter/statements/2015/dec/19/hillary-clinton/fact-checking-hillary-clintons-claim-isis-using-vi/"></a> that there's no evidence to back up Clinton's claim about the terrorist group. And one ISIS propaganda expert told Business Insider that the group actually talks about President Barack Obama more than Trump.J.M. Berger, a Brookings Institution fellow and coauthor of the recent book, <a href="http://www.amazon.com/ISIS-State-Terror-Jessica-Stern/dp/0062395548/ref=sr_1_1?ie=UTF8&amp;qid=1438358653&amp;sr=8-1&amp;keywords=isis%3A+state+of+terror&amp;tag=bisafetynet-20">"ISIS: The State of Terror,"</a> told Business Insider that he isn't aware of any ISIS videos featuring Trump."They talk about [Trump] on social media, but not necessarily in a calculated, organized way," Berger said in an email."They talk about Obama more, since he's the one actually acting against [ISIS]. Trump has been a bit of a sideshow until now. That could change now that they see some headline potential following the debates."One recent ISIS propaganda video featured several US politicians - former President Bill Clinton, Hillary Clinton's husband, among them - but made no mention of Trump.When asked what Clinton was referring to with her claim Saturday night, spokesman Jesse Ferguson initially pointed to comments from Rita Katz, an expert on ISIS propaganda and co-founder of the SITE Intelligence group. Katz <a href="http://www.nbcnews.com/storyline/isis-terror/donald-trumps-muslim-bashing-aids-cause-terror-networks-say-experts-n476221">told NBC News recently</a> that ISIS follows "everything Donald Trump says" and references his proposed Muslim ban as proof that America hates Muslims.But it appears that the claim about videos specifically can't be verified.Clinton communications director Jennifer Palmieri <a href="http://abcnews.go.com/Politics/hillary-clintons-campaign-defends-claim-isis-videos-donald/story?id=35854733">went on ABC's "This Week"</a> to respond to the skepticism over Clinton's statement. She said Clinton was "not referring to a specific video" but noted that Trump "is being used in social media by ISIS as propaganda."Katz also couldn't confirm that ISIS is using any specific videos of Trump. When asked about the Clinton campaign using her quotes to back up the video statement, Katz pointed to <a href="https://twitter.com/Rita_Katz/status/678612336899420161">her tweet from Sunday</a> that said, "ISIS didn't feature Trump in a video, but ISIS supporters/recruiters have used Trump's rhetoric to promote ISIS' ideas and agenda.""And as you could see, the NBC <a href="http://www.nbcnews.com/storyline/isis-terror/donald-trumps-muslim-bashing-aids-cause-terror-networks-say-experts-n476221">original article</a> didn't mention anything about a video," she added in an email to Business Insider.<div class="KonaFilter image-container display-table"><div><div class="image on-image">REUTERS/Brian SnyderHillary Clinton.</div></div></div>SITE's Joe Cleffie also passed along a December 14 report from the group that noted jihadists citing Trump's <a href="http://www.businessinsider.com/donald-trump-muslim-immigrants-2015-12">proposed temporary ban on Muslims entering the US</a> as a reason for Muslims to leave the US.After Trump's statement proposing the ban, jihadists on Twitter reportedly expressed a "lack of surprise" and characterized the proposal as "Western oppression against Muslims," according to the SITE report.The report cites tweets from ISIS supporters, a supposed ISIS fighter, and a fighter for the al-Qaeda affiliate Jabhat al-Nusra.One tweet from an ISIS supporter said: "Why are people shocked with Trump he only said what most kufar [disbelievers] are afraid of saying."Another ISIS supporter tweeted, "The actions of Trump are just a trailer of what is awaiting Muslims in future in" Western countries. And yet another ISIS sympathizer said, "I wonder if President Trump will allow Muslims to leave the US for Dawlah [ISIS territory]. He hates Muslims so much, allow those that want to leave and live with other committed brothers and sisters without kuffar oppression.""This is the sort of thing we are seeing," Cleffie said in an email.Republicans have been pushing back on Clinton's debate claim. Even former Florida Gov. Jeb Bush (R), who has <a href="http://www.businessinsider.com/jeb-bush-donald-trump-attacks-debate-2015-12" target="_blank">been attacking Trump</a> on the campaign trail recently, <a href="http://www.buzzfeed.com/andrewkaczynski/jeb-bush-defends-trump-talk-about-chutzpah-for-clinton-to-sa#.xjLXBm4a0">came to his defense</a> on Monday."Hillary Clinton suggesting that Donald Trump is being used in an ISIS recruiting video, man, talk about chutzpah," Bush, who is also seeking the Republican nomination for president, said on Bill Bennett's radio show. "There's no evidence of that. There's no evidence of that at all."Trump also slammed Clinton, calling her a "liar" <a href="http://www.nbcnews.com/meet-the-press/trump-clinton-lies-crazy-about-everything-n483426">on NBC's "Meet the Press" on Sunday</a>."She lies like crazy about everything," Trump said. "She's a liar and everybody knows that." On Monday, Trump <a href="http://www.businessinsider.com/donald-trump-hillary-clinton-apology-debate-isis-2015-12" target="_blank">demanded an apology for what he called a "disgusting" claim</a>.Though it's unclear whether ISIS - which is also known as the Islamic State, ISIL, and Daesh - has featured Trump in videos, the group does push the message of a clash of civilizations between Islam and the West. Some experts <a href="http://www.theguardian.com/world/2015/dec/08/trumps-hateful-rhetoric-feeds-into-age-old-west-v-islam-narrative">have argued</a> that Trump's rhetoric can be used as validation.Clinton's campaign did not immediately respond to an additional request for comment on Monday. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/jeb-bush-politics-election-donald-trump-china-2015-12">Business Insider's full interview with Jeb Bush</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="cyMXdreTr5bXttzzCD9EeIU3ON8dcECY" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

ISIS propaganda expert: The group 'talks about Obama more' than Donald Trump

Jennifer Meridian DesignJennifer Meridian Design's illustration of a wall along the US-Mexico border.The Trump administration is <a href="http://www.npr.org/sections/thetwo-way/2017/04/04/522652528/bids-for-trump-s-border-wall-are-due-today">reviewing design bids</a> for its proposed wall along the US-Mexico border. But not all plans feature a literal wall.JM Design Studio, a Pittsburgh-based artist collective, wants to build a "wall" made of 3 million hammocks strung together by western white pine trees.Anyone would be able to lounge in the hammocks, Jennifer Meridian, the artist who led the design, tells Business Insider. The trees, which would be planted along the border, would each stretch 30 feet tall.Meridian says the design, which is actually in protest to the Trump administration's call, seeks to re-think the nature of a border wall."If we have to build something, let's build it as art, inclusiveness, and creativity," Meridian says. "Let's abandon old ideas for what is much more promising: a world that embraces rather than rejects the 'other.' I want to see a demilitarized world where borders are fluid and open. Walls are not part of that vision."<a href="http://jennifermeridianstudio.com/drawings-borderwall/">The hammock wall is one of six designs</a> that the firm submitted to the Trump administration's official call. The firm also sent plans for walls made of 10 million pipe organs, lighthouses, and gravestones that mark the lives of migrants who died trying to cross the border.JM Design Studio is looking to build prototypes of the hammock wall and the pipe organ wall in California's San Diego desert, located just north of the border with Tijuana, Mexico. In coming weeks, the team will launch a crowdfunding campaign to make the designs a reality."We think it is important to take the next step towards realization of these designs. They are as realistic as the other proposals. We believe that, by building them, we set a precedent that they are of equal merit and just as possible to build, and believe in [as a normal border wall]," Meridian says.In late April, Congress approved a budget bill that will fund <a href="https://rules.house.gov/sites/republicans.rules.house.gov/files/115/OMNI/DIVISION%20F-%20HOMELAND%20SOM%20OCR%20FY17.pdf">$146 million</a> in upgrades to the existing steel border fencing, which was first installed in the mid-1990s. The US Department of Homeland Security estimates that a wall will cost approximately $21.6 billion.Meridian says that the hammock wall would cost about $100,000 per mile to build. That means if the US were to plant trees and attach hammocks along the entire span of US-Mexico border, it would cost around $195 million. That price would not include demolishing the 650 miles of existing fencing. <h3>NOW WATCH: <a href="http://www.businessinsider.com/baltimore-mr-trash-solar-powered-waterwheel-removes-rubbish-inner-harbor-maryland-2017-4">Baltimore's solar-powered water wheel has now removed 1.1 million lbs of rubbish from the river</a></h3> Please enable Javascript to watch this video

A group of artists just submitted a proposal for a $195 million Trump border 'wall' made of 3 million hammocks

Focused <keyword id="19929240" type="General" weightage="20" keywordseo="mutual-funds" source="keywords">mutual funds</keyword>, which invest in a concentrated portfolio of <keyword id="19905382" type="General" weightage="20" keywordseo="stocks" source="keywords">stocks</keyword>, are gaining traction among investors with the <keyword id="22748135" type="General" weightage="20" keywordseo="asset-base" source="keywords">asset base</keyword> of the category growing to Rs 1.43 lakh crore in three months ended June 2024, marking an increase of 31% from a year ago. Interestingly, some of the focused funds offered by the mutual fund houses such as <keyword id="22748136" type="General" weightage="20" keywordseo="Invesco-India-Focused-Fund" source="keywords" meta.keywordsubtype="org" meta.entityname="Invesco India Focused Fund" meta.hostid="261" meta.entityid="Invesco India Focused Fund">Invesco India Focused Fund</keyword>, Mahindra Manulife Focused Fund, JM Focused Fund, and <keyword id="19896378" type="General" weightage="20" keywordseo="hdfc" source="keywords">HDFC</keyword> Focused 30 Fund delivered a remarkable return of 40-60% in the past year, industry data showed. Focused funds are a type of mutual fund where the fund manager selects a concentrated portfolio of stocks, typically limited to a maximum of 30 due to regulatory constraints. This requires the fund manager to be highly skilled in stock selection, as they need to identify the best investment opportunities across the market without bias toward any specific market cap or sector. According to data from the <keyword id="20090034" type="General" weightage="20" keywordseo="association-of-mutual-funds" source="keywords">Association of Mutual Funds</keyword> in India (Amfi), the assets under management (AUM) of the focused funds were at Rs 1.43 lakh crore in the June quarter 2024-25 as compared to Rs 1.09 lakh crore in April-June FY24. This growth highlights the appeal of focused funds as an alternative to portfolio management services (<keyword id="19950020" type="General" weightage="20" keywordseo="pms" source="keywords">PMS</keyword>), especially with recent tax changes that make PMS less attractive due to higher costs and tax implications, Feroze Azeez, Deputy CEO, of Anand Rathi Wealth Ltd, said. "With the increase in taxation on both small-term capital gain tax and long-term capital gain tax, PMS portfolios are expected to see a drop in post-tax returns. For example, a PMS portfolio generating a pre-tax return of 14 % could see post-tax returns drop from 11.73 % to 11.29 %. This shift could lead to fund managers churning portfolios less frequently, which in turn will be affecting returns for investors," he added. Focused funds follow a similar concentrated portfolio strategy where the fund manager picks the top stocks and offers flexibility across market caps. Thus, becoming a more attractive option for investors looking to optimize their returns. Industry experts recommend investing in focused funds through systematic investment plans (SIPs) as a smart strategy in the current market environment of sector rotation and high valuations. Since these funds invest in a small number of stocks, SIPs can help reduce risk by spreading out investments over time. Overall, there are 31 focused schemes offered by different mutual fund houses in the category. These schemes have given returns of 19-60% in the last one year. In terms of returns, smaller funds have performed exceptionally well. The Invesco India Focused Fund delivered a remarkable return of over 60% in the past year, while Mahindra Manulife Focused Fund provided around 50% returns and JM Focused Fund offered a return of 45% during the period. With a corpus of Rs 1,552 crore as of June 2024, Mahindra Manulife Focused Fund has consistently performed well, securing the second rank for 1, 2, and 3-year periods. The fund delivered returns of 50%, 32%, and 26% over these periods, respectively. HDFC Focused 30 Fund achieved the top rank over the 3 years with a return of 28.63 %, while JM Focused Fund secured the third rank with a 25 % return during the same period. "The success of focused funds underscores the importance of skilled fund management and strategic stock selection," an industry expert said. Focused funds opt for a more targeted strategy rather than the broad diversification typical of traditional mutual funds. This approach helps fund managers make investments in a carefully selected group of stocks, reflecting their strongest investment beliefs. The concentrated nature of these portfolios requires careful selection of each stock, as the fund's performance heavily depends on these choices. Although these funds hold a limited number of stocks, they are structured to be sufficiently diversified to effectively manage risk. Overall, the assets of the equity mutual funds rose to Rs 27.6 lakh crore in June 2024 from Rs 17.43 lakh crore in June 2023.

You Searched For "jm group" and got 12 results

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Tata Sons bags Rs 10,278 crore from TCS buyback

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Shuttered Facebook group linked to Russia organized anti-immigrant rallies across Texas

Natasha Bertrand

ISIS propaganda expert: The group 'talks about Obama more' than Donald Trump

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A group of artists just submitted a proposal for a $195 million Trump border 'wall' made of 3 million hammocks

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Focused MFs' asset base rises 31% to Rs 1.43 lakh cr in June qtr; up to 60% returns last year

PTI

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