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World problems can`t be solved without India`s involvement: German Minister Germany's Development Minister Svenja Schulze, who is on a three-day visit to Gujarat to represent her country at the 4th Global Renewable Energy Investor's (RE-INVEST) meet here, has said that the problems of the world cannot be solved without India's involvement. In an exclusive conversation with IANS on Monday, Schulze, who is leading a delegation of around 20 representatives, emphasised the growing importance of India's involvement in solving global challenges and the p...
World problems can`t be solved without India`s involvement: German Minister
World problems can`t be solved without India`s involvement: German Minister
Source: IANS
2024-09-17 09:19:13 am
Company Update ; Buy Mahindra Finance By Motilal Oswal Financial Services Business assets up ~22% YoY; Stage 2/Stage 3 rose by ~100bp/30bp QoQ CE stood at 95% (PY: 96% ) Key takeaways from Jun’24 business update: * Jun’24 disbursements grew ~3% YoY to ~INR43.7b. 1QFY25 disbursements grew 5% YoY to INR127b. * Gross business assets as of Jun’24 stood at ~INR1.06t, up 22% YoY/4% QoQ. * Jun’24 collection efficiency (CE) stood at 95% (vs. 96% in Jun’23). 1QFY25 CE stood at 94% (vs. 94% in Jun’23). * MMFS reported that i...
Company Update ; Buy Mahindra Finance By Motilal Oswal Financial Services
Company Update ; Buy Mahindra Finance By Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services
2024-07-12 12:05:55 pm
Explainer-Why food prices will remain high in India Food inflation in India, driven by supply-side factors like adverse weather affecting crops, has remained at around 8% year-on-year since November 2023 and is unlikely to ease any time soon, despite early arrival of monsoon rains and forecasts of above-normal rainfall. Elevated prices of food, which accounts for nearly half of the overall consumer price basket, has kept headline inflation above the central bank's target of 4%, preventing it from cutting interest rates. WHAT IS DRIVI...
Explainer-Why food prices will remain high in India
Explainer-Why food prices will remain high in India
Source: Reuters
2024-06-21 09:51:43 am
Company Update : Jio Financial Services - Motilal Oswal Financial Services PAT up ~6% QoQ led by growth in interest income and income from JVs/associates * For Jio Financial Services (JFSL), NII rose ~4% QoQ to INR2.8b in 4QFY24 (~INR2.7b in 3Q) and other income declined ~5% QoQ to INR1.4b due to lower commission income. * Operating expenses grew 3% QoQ to INR1b. Employee expenses rose ~16% QoQ because of the hiring of manpower and management team. * Credit costs stood at INR18m (vs. INR2m in 3Q). The profit contribution of JVs and associates increased ~17%...
Company Update : Jio Financial Services - Motilal Oswal Financial Services
Company Update : Jio Financial Services - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
2024-06-08 01:41:17 pm
Company Update : Jai Balaji Industries Ltd by Motilal Oswal Financial Services Duct Iron Pipes and Specialized Ferro Alloys to be key products moving forward We went for Jai Balaji Industries’ plant visit at Durgapur, West Bengal where the company has its TMT bars producing DRI manufacturing capacity and DI Pipes producing Blast Furnace facilities cupped with backward integrated operations. Post the plant visit, we got to interact with the management as well. The key takeaways from our visit are provided below Capacity expansion plans to focus on capturing t...
Company Update : Jai Balaji Industries Ltd by Motilal Oswal Financial Services
Company Update : Jai Balaji Industries Ltd by Motilal Oswal Financial Services
Source: Yes Securities Ltd.
2024-06-08 10:22:54 am
Company Update : Kotak Mahindra Bank Ltd by LKP securities Ltd Kotak Mahindra Bank (KMB) has shown a decline in performance over the last three years (3Y return: -7.4, 1Y return: -13.3%) compared to the returns of Bank Nifty (3Y return: 37.4%, 1Y return: 11.5%) and Nifty (3Y return: 43.6%, 1Y return: 21.6%). This underperformance can be attributed to several factors, including the stepping down of Mr. Uday Kotak, slower business growth relative to Kotak’s usual standards, and supervisory actions by the RBI. However, the bank has maintained strong a...
Company Update : Kotak Mahindra Bank Ltd by LKP securities Ltd
Company Update : Kotak Mahindra Bank Ltd by LKP securities Ltd
Source: LKP securities Ltd
2024-06-03 06:02:49 pm
Company Update : Vedanta Ltd - Yes Securities Ltd We attended the analyst day meet at Vedanta Ltd held on the 27th of February 2024. The analyst meet focused on the demerger story and potential value unlocking from the same. The meet also laid out the expansion plans under different verticals for the company. At the CMP, the company currently trades at 5.01x EV/EBITDA at FY24E as per Bloomberg estimates. Demerger aimed to unlock potential value On 29th September 2023, the Vedanta board approved a pure-play, asset-owner business model ...
Company Update : Vedanta Ltd - Yes Securities Ltd
Company Update : Vedanta Ltd - Yes Securities Ltd
Source: Yes Securities Ltd.
2024-05-27 12:47:19 pm
Company Update : ICICI Prudential Life Insurance - Motilal Oswal Financial Services VNB misses estimates, declines 29% YoY | Margin moderates 510bp QoQ to 22.9% * Gross premium grew 4% YoY in 3QFY24 to INR103b (in line), with renewal /first-year premium up 6%/11% YoY and single premium flat YoY. PAT grew 3% YoY to INR2.3b in 3QFY24. For 9MFY24, PAT rose 18% to INR6.8b. * APE grew 5% YoY to INR19.1b (9.5% above estimates) as ULIP business saw a growth of 9% YoY in 3QFY24. Compared to 9MFY23, ULIP/protection grew 6%/4% YoY, but non-Par declined 3.5% YoY. * VNB decline...
Company Update : ICICI Prudential Life Insurance - Motilal Oswal Financial Services
Company Update : ICICI Prudential Life Insurance - Motilal Oswal Financial Services
Source: motilal oswal financial services Ltd
2024-04-26 11:05:11 am
India to become one of biggest chip hubs in next 5 years: Union Railways and IT Minister Ashwini Vaishnaw India has commissioned four semiconductor manufacturing units and in the next five years, the country will become one of the biggest semiconductor hubs in the world, Union Railways and IT Minister Ashwini Vaishnaw has said. In a wide-ranging interview with IANS, the Union Minister said that in the coming years, Prime Minister Narendra Modi will lay the foundation for the further growth of the industry that will create thousands of jobs. “There is a clear policy on bringing state-o...
India to become one of biggest chip hubs in next 5 years: Union Railways and IT Minister Ashwini Vaishnaw
India to become one of biggest chip hubs in next 5 years: Union Railways and IT Minister Ashwini Vaishnaw
Source: IANS
2024-04-24 03:54:20 pm
Exclusive - India considers export tax on low-grade iron ore India is considering an export tax on low-grade iron ore after small steel producers urged the government to curb its overseas sales, two sources directly involved in the matter said. China typically accounts for more than 90% of overall shipments of iron ore from India, which is the world's fourth largest producer of the steel-making ingredient. Demand for steel in India, the world's second-biggest crude steel maker, has raised iron ore consumption in the country and earlier th...
Exclusive - India considers export tax on low-grade iron ore
Exclusive - India considers export tax on low-grade iron ore
Source: Reuters
2024-02-27 09:48:01 am
Factbox-What industry wants from India`s budget on February. 1  India's Finance Minister Nirmala Sitharaman will on Thursday present the last federal budget of the current Narendra Modi-led administration before the country heads for polls in the summer. Industry lobby bodies are suggesting the government continue spending on infrastructure, expand incentives for manufacturing and tweak import taxes on inputs for certain goods. The government is considering raising capital spending to as much as 12 trillion rupees from the current year'...
Factbox-What industry wants from India`s budget on February. 1
Factbox-What industry wants from India`s budget on February. 1
Source: Reuter
2024-01-31 10:04:56 am
Company Update : ICICI Securities Limited by ARETE Securities Ltd ICICI Securities Limited reported robust Q3FY24 results, showcasing a substantial 50% overall revenue growth and notable market share improvements across various revenue-generating parameters. The Profit after Tax surged to 466 crore, reflecting a significant 66% YoY increase and a 10% QoQ rise. The company's success is attributed to effective diversification strategies and a customer-centric coverage model. Key highlights include a 12% sequential growth and a remarkable 56% YoY increase ...
Company Update : ICICI Securities Limited by ARETE Securities Ltd
Company Update : ICICI Securities Limited by ARETE Securities Ltd
Source: ARETE Securities Ltd
2024-01-19 02:35:33 pm
Company Update : Concord Biotech Ltd by Choice Broking Ltd Concord Biotech Limited is a R&D driven biopharma company that manufactures API through fermentation & semisynthetic process and finished formulations. Founded in the year 2000, the company has transformed from a singleproduct company to a broad-spectrum solution provider, offering products across diversified therapeutic segments. Concord is globally known for its products and has a presence in more than 70 countries worldwide with efficient distribution infrastructure in markets like...
Company Update : Concord Biotech Ltd by Choice Broking Ltd
Company Update : Concord Biotech Ltd by Choice Broking Ltd
Source: Choice Broking
2024-01-02 11:03:22 am
Company Update : Man Industries Limited by Choice Broking * Man Industries (India) Ltd. (MAN), was incorporated in 1988 and is the flagship company of the Man Group promoted by the Mansukhani family. Today, the company is one of the largest manufacturer and exporter of large diameter carbon steel line pipes (LSAW, HSAW and ERW), which are used for various high pressure transmission applications for oil & gas industry, petrochemicals, water, dredging & fertilizers, hydro-carbon and CGD Sector. The company has three state-ofthe-art manufacturi...
Company Update : Man Industries Limited by Choice Broking
Company Update : Man Industries Limited by Choice Broking
Source: Choice Broking
2024-01-01 12:11:57 pm
Indian banks to see `moderate growth' in deposits, 'deceleration in credit` The 2024 outlook for the Indian banking sector is robust and healthy with the Reserve Bank of India (RBI) hitting the pause button on the policy rate revision, satisfactory capital levels, loan loss provisions, and softening retail inflation, Sujan Hajra, Chief Economist and Executive Director, Anand Rathi Shares and Stock Brokers has said. Speaking to IANS, Hajra also anticipates a moderate acceleration of deposit growth and a deceleration of credit growth in 2024 relative to 2023, which ...
Indian banks to see `moderate growth' in deposits, 'deceleration in credit`
Indian banks to see `moderate growth' in deposits, 'deceleration in credit`
Source: IANS
2023-12-31 05:37:38 pm
Company Update : Buy Mahindra Finance Ltd - Motilal Oswal Financial Services Ltd Disbursements flat MoM; asset quality stable Nov’23 disbursements grew 18% YoY and CE stood at 94% (vs. 96% YoY) Key takeaways from Nov’23 business update: ? MMFS reported Nov’23 disbursements of ~INR53b, flat MoM and up ~18% YoY. YTD disbursements stood at ~INR360b, up ~16% YoY. ? Gross business assets as of Nov’23 stood at ~INR966b, up 26% YoY and up ~17% over Mar’23. ? Nov’23 collection efficiency stood at 94% (vs. 96% in Nov’22). ? ...
Company Update : Buy Mahindra Finance Ltd - Motilal Oswal Financial Services Ltd
Company Update : Buy Mahindra Finance Ltd - Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services Ltd
2023-12-26 12:54:01 pm
Metals & Mining : Steel - margins under pressure by Kotak Institutional Equities Domestic steel prices remain under downward pressure, with prices down 6- 7% in 3QFY24. Higher Chinese export prices have now closed the import parity gap from the peak of 12% in October 2023. Raw material prices, iron ore and coking coal remain elevated on the hope of further stimulus in China and supply disruptions. We expect margins for steel companies to remain stable sequentially in 3QFY24 and under downward pressure in 4QFY24. Maintain BUY on JSPL and SELL on SAIL. Domestic steel pri...
Metals & Mining : Steel - margins under pressure by Kotak Institutional Equities
Metals & Mining : Steel - margins under pressure by Kotak Institutional Equities
Source: Kotak Institutional Equities
2023-12-16 11:57:36 am
Exclusive-Mubadala in talks with Temasek for stake buy in India's Manipal Hospitals  Mubadala is in talks to acquire a stake of less than 10% in India's Manipal Hospitals, in what could be the Abu Dhabi sovereign fund's first investment in the booming Indian healthcare space, people with direct knowledge said.The fund is holding talks with Singapore's Temasek, which spent $2 billion in April to raise its stake in Manipal to 59% from 18% in the biggest hospital sector deal in India, said two of the three sources, who all sought anonymity as the talks are confidential.The...
Exclusive-Mubadala in talks with Temasek for stake buy in India's Manipal Hospitals
Exclusive-Mubadala in talks with Temasek for stake buy in India's Manipal Hospitals
Source: Reuters
2023-09-28 05:51:43 pm
MPC of RBI expected to yet again pause repo rate at next bi-monthly review: SBI Research SBI Research in its latest report has said that the monetary policy committee (MPC) of the Reserve Bank of India (RBI) is expected to yet again pause the key repo rate at its next bi-monthly review scheduled in the first week of October. The meeting is scheduled for October 4-6. RBI typically conducts six bi-monthly meetings in a financial year, where it decides interest rates, money supply, inflation outlook, and various macroeconomic indicators.It stated ?Domestically, we believe at 6.50%, ...
MPC of RBI expected to yet again pause repo rate at next bi-monthly review: SBI Research
MPC of RBI expected to yet again pause repo rate at next bi-monthly review: SBI Research
Source: Accord Fintech
2023-09-26 10:48:00 am
India bond flows may hit $50 billion if other indexes follow JPMorgan - ICICI Bank`s B. Prasanna Passive inflows into Indian bonds could rise to as much as $50 billion over the next 12 months if other foreign indexes add the country's debt to their benchmarks, a top treasury official at ICICI Bank told Reuters on Friday.Earlier in the day, JPMorgan said it would include India in its global emerging market bond indices over 10 months starting June 2024, triggering close to $24 billion in flows.Besides JPMorgan, FTSE Russell and Bloomberg Barclays also have emerging bond indices that could...
India bond flows may hit $50 billion if other indexes follow JPMorgan - ICICI Bank`s B. Prasanna
India bond flows may hit $50 billion if other indexes follow JPMorgan - ICICI Bank`s B. Prasanna
Source: Reuters
2023-09-22 01:58:32 pm
Company Update : Sansera Engineering Ltd By Strong foundation in place for 20% sales CAGR, 20% RoCE By Emkay Global Financial Services We interacted with the management of Sansera Engineering and visited the company?s Forgings as well as Aerospace & Defence plants in Bengaluru. By leveraging the advantages (of cost, time-to-market and agility) afforded by its end-to-end integrated engineering capabilities, Sansera expects to benefit from increased outsourcing across its traditional as well as newer product lines to clock ~20% revenue CAGR in coming years (2x the underlying industry); this would help execute its str...
Company Update : Sansera Engineering Ltd By Strong foundation in place for 20% sales CAGR, 20% RoCE By Emkay Global Financial Services
Company Update : Sansera Engineering Ltd By Strong foundation in place for 20% sales CAGR, 20% RoCE By Emkay Global Financial Services
Source: Emkay Global Financial Services
2023-09-14 03:38:47pm
Federal Bank creates a Golden Buzz with its #SoneKaRishta campaign on Sovereign Gold Bond Federal Bank's campaign for Sovereign Gold Bonds (SGB) deserves accolades for its outstanding execution and its ability to make a complex financial product accessible and enticing to the masses.  The campaign brilliantly captures the essence of SGBs as a golden opportunity for investors. The tagline, ?Reliably liquid?, ?Gold without the worries?, "The Golden Opportunity," etc immediately resonates with anyone seeking a smart investment option. It cleverly emphasizes how SGBs can tur...
Federal Bank creates a Golden Buzz with its #SoneKaRishta campaign on Sovereign Gold Bond
Federal Bank creates a Golden Buzz with its #SoneKaRishta campaign on Sovereign Gold Bond
Source: PR Agency
2023-09-14 11:35:05am
Exclusive-India`s Reliance Retail in talks with Gulf, Singapore funds on $1.5 billion injection  India's Reliance Retail is in talks with existing investors including the sovereign wealth funds of Singapore, Abu Dhabi and Saudi Arabia for combined new investments of around $1.5 billion, three sources with direct knowledge of the plan said.Reliance Retail is India's largest retailer and is led by Asia's richest person Mukesh Ambani. The talks with investors are part of an internal target to raise $3.5 billion which the company wants to close by the end September, Reuters has reporte...
Exclusive-India`s Reliance Retail in talks with Gulf, Singapore funds on $1.5 billion injection
Exclusive-India`s Reliance Retail in talks with Gulf, Singapore funds on $1.5 billion injection
Source: Reuters
2023-09-13 04:32:08pm
Top 20 stock picks based on G20 theme from smallcase managers Divam Sharma smallcase manager and Founder at Green Portfolio 1) Marksans Pharma Company is into drugs for mainly pain management and cardiovascular treatment. The company is looking to acquire companies to increase its presence in global markets. As the new plant is expected to run at higher utilisation levels, the top line and margins can see significant expansion from the current levels. 2) Sterlite Technologies One of the biggest beneficiaries in India’s 5G transformatio...
Top 20 stock picks based on G20 theme from smallcase managers
Top 20 stock picks based on G20 theme from smallcase managers
Source: PR Agency
8/09/2023 3:42:14 PM
Company Update : Bikaji Foods International Limited By Arete Securities Ltd Bikaji Foods International Limited is one of India's largest fast-moving consumer goods ("FMCG") brands. The company's product range includes six principal categories with 300+ products: bhujia, namkeen, packaged sweets, papad, western snacks as well as other snacks which primarily include gift packs (assortment), frozen food, mathri range, and cookies. Key Highlights • Largest ethnic snacks company in India. Strong leadership in core states delivering 14.7% in co...
Company Update : Bikaji Foods International Limited By Arete Securities Ltd
Company Update : Bikaji Foods International Limited By Arete Securities Ltd
Source: ARETE Securities
7/09/2023 4:40:00 PM
India`s Tata seeks control of Haldiram`s, snack maker wants $10 billion valuation Tata Group's consumer unit is in talks to buy at least 51% of popular Indian snack food maker Haldiram's but is not comfortable with the $10 billion valuation sought, two people briefed on the matter said. If successfully concluded, a deal would see the Indian conglomerate directly compete with Pepsi and billionaire Mukesh Ambani's Reliance Retail. Haldiram's, a household name in India, is also talking with private equity firms including Bain Capital about the sale of a ...
India`s Tata seeks control of Haldiram`s, snack maker wants $10 billion valuation
India`s Tata seeks control of Haldiram`s, snack maker wants $10 billion valuation
Source: Reuters
6/09/2023 2:56:54 PM
Strategy: Manufacturing growth likely to be driven by products related to capex cycle while general consumer products may drag; electronics manufacturing is the new frontier By ICICI Securities Strategy Manufacturing growth likely to be driven by products related to capex cycle while general consumer products may drag; electronics manufacturing is the new frontier ! Manufacturing sector growth slowed down to 1.3% YoY in FY23 resulting in a drop in its share of GVA to 17.7%. Breakup of ‘manufacturing sector’s GVA’ is not yet available for FY23, but IIP constituent trends indicate that ‘consumer products’ primarily dragged down manufacturing in FY23...
Strategy: Manufacturing growth likely to be driven by products related to capex cycle while general consumer products may drag; electronics manufacturing is the new frontier By ICICI Securities
Strategy: Manufacturing growth likely to be driven by products related to capex cycle while general consumer products may drag; electronics manufacturing is the new frontier By ICICI Securities
Source: ICICI Securities
28/08/2023 10:57:17 AM
Exclusive-With Tesla push, India mulls import tax cut if EV makers build locally India is working on a new electric vehicle policy that would slash import taxes for automakers that commit to some local manufacturing, following a proposal by Tesla which is considering entering the domestic market, people with direct knowledge said. The policy being considered could allow automakers to import fully-built EVs into India at a reduced tax as low as 15%, compared to the current 100% that applies to cars which cost above $40,000 and 70% for the rest, said two of the sources, ...
Exclusive-With Tesla push, India mulls import tax cut if EV makers build locally
Exclusive-With Tesla push, India mulls import tax cut if EV makers build locally
Source: Reuters
25/08/2023 3:11:02 PM
India`s trade deficit falling at rapid pace; exports to see positive growth in coming months: Piyush Goyal Commerce and Industry Minister Piyush Goyal has said that India's trade deficit is falling at a rapid pace and the exports are expected to see positive growth in the coming months. He said that countries in the world are facing a slowdown and global trade is relatively weak right now.  Given the challenging situation, the minister said high interest rates, and cut down in discretionary spending have led to a fall in the exports of ready-made apparel and the gem and jewellery secto...
India`s trade deficit falling at rapid pace; exports to see positive growth in coming months: Piyush Goyal
India`s trade deficit falling at rapid pace; exports to see positive growth in coming months: Piyush Goyal
Source: Accord Fintech
25/08/2023 11:25:25 AM
Indian embassies, consulates well-placed to help country`s businesses explore new markets for exports: Rajkumar Ranjan Singh Union Minister of State for External Affairs Rajkumar Ranjan Singh has said that Indian embassies and consulates are well-placed to help the country's businesses explore new markets for exports. He said India's growth and prosperity are intrinsically linked to its ability to tap into global markets and focusing on the incredible products and services that it has to offer. He stated that India has representation in almost all the countries of the world. He said ‘Our embassies ...
Indian embassies, consulates well-placed to help country`s businesses explore new markets for exports: Rajkumar Ranjan Singh
Indian embassies, consulates well-placed to help country`s businesses explore new markets for exports: Rajkumar Ranjan Singh
Source: Accord Fintech
24/08/2023 10:53:33 AM
V-Guard Unveils Double Delight with Exciting Onam Offers: Assured Gifts and Scratch & Win Bonanza V-Guard, a leading name in consumer electronics and electrical products, unveils an extraordinary dual offer extravaganza for the upcoming Onam festival. This festive season, V-Guard presents not one, but two exciting offers for its valued customers, adding to the joy of the occasion. The first delightful surprise is the Scratch & Win Bonanza valid from August 4th to September 10th, 2023, this exciting offer guarantees an assured gift by purchasing any gas stove or mixer grinder model ...
V-Guard Unveils Double Delight with Exciting Onam Offers: Assured Gifts and Scratch & Win Bonanza
V-Guard Unveils Double Delight with Exciting Onam Offers: Assured Gifts and Scratch & Win Bonanza
Source: PR Agency
22/08/2023 12:18:56 PM
India needs to focus on manufacturing sector to achieve sustained growth of 7-7.5% until 2030: CEA Chief Economic Advisor (CEA) V Anantha Nageswaran has said that India needs to focus on the manufacturing sector to achieve sustained growth of 7-7.5 per cent until 2030. He also said that manufacturing should be a key growth area given the country's comparative advantage in terms of skilled labour, improved physical infrastructure, well-established industrial ecosystem and large domestic market.  As regards the services sector, CEA said the composition should change in favour of ...
India needs to focus on manufacturing sector to achieve sustained growth of 7-7.5% until 2030: CEA
India needs to focus on manufacturing sector to achieve sustained growth of 7-7.5% until 2030: CEA
Source: Accord Fintech
4/08/2023 11:41:24 AM
Exclusive-India rice stocks at three times target, easing supply concerns India's rice stocks were at nearly three times its target at the start of August, two government sources in the world's second biggest producer country said on Thursday. Coupled with the new season crop that is due to start trickling into the market by October, the surplus will raise market hopes of New Delhi relaxing a recent export ban. The world's biggest rice exporter last month ordered a surprise halt to non-basmati white rice exports, its largest category, driving pric...
Exclusive-India rice stocks at three times target, easing supply concerns
Exclusive-India rice stocks at three times target, easing supply concerns
Source: Reuters
3/08/2023 5:31:37 PM
Rice prices set to climb further after India export ban, trade at standstill Asian rice trade paused on Friday to digest the previous day's ban by India, by far the world's biggest supplier, of a major share of its exports of the staple, with prices expected to climb substantially in coming days, three traders said. India, which accounts for 40% of world rice exports, on Thursday ordered a halt to its largest rice export category to reduce domestic prices, which have climbed to multi-year highs in recent weeks as erratic weather threatens production. &qu...
Rice prices set to climb further after India export ban, trade at standstill
Rice prices set to climb further after India export ban, trade at standstill
Source: Reuters
21/07/2023 10:45:49 AM
Exclusive-BYD proposes $1 billion India plan to build EVs, batteries China's BYD Co has submitted a $1 billion investment proposal to build electric cars and batteries in India in partnership with a local company, three people with direct knowledge of the plan told Reuters. BYD and privately held Hyderabad-based Megha Engineering and Infrastructures have submitted a proposal to Indian regulators to form an EV joint venture, the people said, asking not to be named because the application is private. The longer-term plan is to build a full line-up of B...
Exclusive-BYD proposes $1 billion India plan to build EVs, batteries
Exclusive-BYD proposes $1 billion India plan to build EVs, batteries
Source: Reuters
14/07/2023 12:49:14 PM
Company Update : National Stock Exchange of India Limited by JM Financial Services Ltd Capitalising on the India growth story Over the last decade, the market capitalisation (Mcap) of Indian companies has risen ~11% CAGR to ~USD 3.5trln; Cash equities / futures / options segment volume has grown at 16%/ 15%/ 64% CAGR respectively. Capital market penetration will continue to rise, aided by structural tailwinds such as a) Strong GDP growth (pegged at ~6% in the next few years), b) Financialisation of savings (equity investing picking up, currently ~8% of savings), c) Discount ...
Company Update : National Stock Exchange of India Limited by JM Financial Services Ltd
Company Update : National Stock Exchange of India Limited by JM Financial Services Ltd
Source: JM Financial Institutional Securities Ltd
6/07/2023 5:35:22 PM
High GST collection reflects India`s upbeat economic trend Reflecting the vibrancy of the Indian economy, the gross Goods and Services Tax (GST) revenue collected in the month of June, 2023 was Rs 1,61,497 crore, which is 12 per cent higher than last year. The GST regime was rolled out by the Indian government six years back. Of the total Rs 1.61 lakh crore collected in June, CGST was Rs 31,013 crore, SGST was Rs 38,292 crore, IGST was Rs 80,292 crore (including Rs 39,035 crore collected on import of goods) and cess is Rs 11,900 crore (includin...
High GST collection reflects India`s upbeat economic trend
High GST collection reflects India`s upbeat economic trend
Source: IANS
6/07/2023 9:32:04 AM
Company Update : JK Tyre and Industries Ltd by Yes Securities Targeting industry outperformance in FY24E View & Valuation We visited JKI’s TBR and PCR plant during our recent visit to Chennai. We believe, company to likely see revenue growth outperformance at 10-15% in FY24E (v/s high single digit growth as indicated by peers), led by commercialization of new capacities. JKI indicated continued improvement in return ratios led by margins expansion (product, RM and cost savings led) and moderate capex. Demand commentaries for domestic mar...
Company Update : JK Tyre and Industries Ltd by Yes Securities
Company Update : JK Tyre and Industries Ltd by Yes Securities
Source: Yes Securities Ltd
3/07/2023 2:45:25 PM
India rising steadily in global electronics supply chains: Rajeev Chandrasekhar This year, smartphones are the fifth highest exported product from India and has crossed Rs 1 lakh crore in our 'Techade' that will certainly see the country as a major player in global electronics in years to come, says Rajeev Chandrasekhar, Union Minister of State for Electronics and IT. In an interaction with IANS, the minister said that India is rising steadily as a trusted partner in the global electronics supply chains. "From having to import 82 per cent of all smartphon...
India rising steadily in global electronics supply chains: Rajeev Chandrasekhar
India rising steadily in global electronics supply chains: Rajeev Chandrasekhar
Source: IANS
1/07/2023 12:29:14 PM
Some profit booking can be considered by investors with short term perspective Since valuations are rich from the short-term perspective some profit booking can be considered by investors who do not have a long-term time horizon, says V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. Investors should remain invested in the market and long-term investors can continue with their systematic investments. High quality financials are even now trading at fair valuations, he added. The momentum in the market has picked up again and the undercurren...
Some profit booking can be considered by investors with short term perspective
Some profit booking can be considered by investors with short term perspective
Source: IANS
30/06/2023 4:04:07 PM
Buying in heavyweight stocks pushes Indian markets to all-time high  After multiple attempts, the domestic market successfully managed to sustain record high levels, thanks to the increased buying interest in heavyweight stocks, said Vinod Nair, Head of Research at Geojit Financial Services. The domestic indices ended Wednesday’s session after hitting fresh all-time highs during the day. The NSE Nifty 50 soared 54.70 points or 0.82 per cent to 18,972.10, while the BSE Sensex surged 499.39 points or 0.79 per cent to 63,915.42. The market's...
Buying in heavyweight stocks pushes Indian markets to all-time high
Buying in heavyweight stocks pushes Indian markets to all-time high
Source: IANS
28/06/2023 2:43:40 PM
Google unveils new AI tools for India, announces accelerator programme for ONDC Google on Wednesday announced several artificial intelligence (AI) tools and technologies for India to support growth and innovation among local developers, along with launching an accelerator programme for ONDC. Google Cloud is launching an accelerator programme for the government’s ecommerce initiative ONDC to help digital sellers build and scale their digital commerce operations.  As part of this initiative, the company is open sourcing a ready implementation of ONDC infra...
Google unveils new AI tools for India, announces accelerator programme for ONDC
Google unveils new AI tools for India, announces accelerator programme for ONDC
Source: IANS
28/06/2023 12:56:54 PM
Bitter Reality: India Inc`s neglect of succession planning In the realm of Indian corporates, where professionalism and credibility are often touted, there exists a disheartening truth: the alarming failure of succession planning. Behind the carefully crafted facade of competence lies a stark reality of nepotism, hindering the progress and growth of the very organisations that claim to be leaders. This lack of foresight and resistance to relinquish power paints a grim picture of corporate leadership in our country. It is an unfortunate reality tha...
Bitter Reality: India Inc`s neglect of succession planning
Bitter Reality: India Inc`s neglect of succession planning
Source: IANS
25/06/2023 3:13:32 PM
Hilton India ranked No 1 company in `India`s Best companies to work for`` and the ``Best in Industry: Hotels and Resorts`` Category 2023 I am writing on behalf of Hilton India. We are thrilled to announce that global research and consulting firm ‘Great Place to Work’ has named Hilton India as India's No. 1 company to work for. For the first time a hospitality brand has received such a high honour. Please find attached the press release with Hilton’s key employee initiatives as well as quotes from our Country Head – Mr. Navjit Ahluwalia and Vice President, Human Resou...
Hilton India ranked No 1 company in `India`s Best companies to work for`` and the ``Best in Industry: Hotels and Resorts`` Category 2023
Hilton India ranked No 1 company in `India`s Best companies to work for`` and the ``Best in Industry: Hotels and Resorts`` Category 2023
Source: PR Agency
17/06/2023 12:49:54 PM
Exclusive-Zurich Insurance eyes $400 million stake in general insurance arm of India's Kotak Zurich Insurance Group is in talks to buy up to 51% of India's Kotak General Insurance, two sources with direct knowledge of the matter said, a deal that would mark its first major bet on the fast-growing South Asian insurance market. Backed by Asia's richest banker Uday Kotak, the early-stage negotiations value the Indian company at around $800 million, and Zurich Insurance has expresed interest in both a minority stake of 49% or taking up a majority 51% stake, the sources said. ...
Exclusive-Zurich Insurance eyes $400 million stake in general insurance arm of India's Kotak
Exclusive-Zurich Insurance eyes $400 million stake in general insurance arm of India's Kotak
Source: Reuters
14/06/2023 2:52:57 PM
RBI allows banks to go for compromise settlement of fraud accounts and wilful defaults In order to ensure maximum recovery from distressed assets, the Reserve Bank of India (RBI) has allowed banks to go for compromise settlement of fraud accounts and wilful defaults. In a notification, the RBI said all regulated entities (REs) will be required to put in place board-approved policies for undertaking compromise settlements, with the borrowers as well as for technical write-offs laying down the process to be followed for all compromise settlements and technical write-offs, with sp...
RBI allows banks to go for compromise settlement of fraud accounts and wilful defaults
RBI allows banks to go for compromise settlement of fraud accounts and wilful defaults
Source: Accord Fintech
13/06/2023 2:49:54 PM
An expected status quo: Monetary Policy review June 2023 The MPC kept rates and stance unchanged, the latter with the expected dissent from Prof. Varma. While the rate inaction was expected by almost everyone, there was some debate on whether a more qualified stance may now be forthcoming. In the event, the characterisation on stance landed somewhat more hawkish than what may have been expected. We delve into details below. CPI projection has been brought down to reflect the undershoot versus previous expectations for the current quarter. As p...
An expected status quo: Monetary Policy review June 2023
An expected status quo: Monetary Policy review June 2023
Source: IANS
8/06/2023 4:20:53 PM
Company Update: Suzlon Energy Ltd By Emkay Global Financial Services Ltd Suzlon has become the first Indian wind energy company to reach 20GW of worldwide wind energy installation and has a 33% cumulative wind energy market share in India. The improvement in balance sheet is on the back of the company’s Operation and Maintenance Service (OMS) and Wind Turbine Generator (WTG) arms, along with industry tailwinds, restructuring, refinancing and a successful rights issue. The OMS unit caters to cumulative capacity of ~16GW (~14 GW under SGSL in India) and contri...
Company Update: Suzlon Energy Ltd By Emkay Global Financial Services Ltd
Company Update: Suzlon Energy Ltd By Emkay Global Financial Services Ltd
Source: Emkay Global Financial Services Ltd
8/06/2023 3:25:26 PM