News

India becomes 6th largest market in global MSCI IMI index, surpasses China In yet another feat to India’s growing clout in the world economy, the country has become the sixth-largest market in the MSCI All Country World Investable Market Index (ACWI IMI), surpassing China.  The global index tracks capital market performance across the world. The index includes large- and mid-cap stocks and is a more inclusive version of the widely tracked MSCI ACWI Index. India’s weight in the MSCI ACWI IMI stood at 2.35 per cent in August, 11 basis points hig...
India becomes 6th largest market in global MSCI IMI index, surpasses China
India becomes 6th largest market in global MSCI IMI index, surpasses China
Source: IANS
2024-09-19 11:38:41 am
India pips China to become largest weight in MSCI Emerging Market IMI Strong fundamentals have helped India pip China in the MSCI EM Investable Market Index (IMI) to become the largest weight. The world’s fastest-growing economy is also set to surpass China as the top weight in the broader MSCI Emerging Markets index too.  The MSCI Emerging Markets IMI captures large, mid and small cap representation across 24 Emerging Markets (EM) countries. With 3,355 constituents, the index covers approximately 99 per cent of the free float-adjusted market capi...
India pips China to become largest weight in MSCI Emerging Market IMI
India pips China to become largest weight in MSCI Emerging Market IMI
Source: IANS
2024-09-06 10:43:11 am
SoftBank-backed OfBusiness plans up to $1 billion India IPO, exec says SoftBank-backed OfBusiness, an Indian shopping website that offers raw materials to businesses, is planning an Indian stock market offering worth up to $1 billion and is close to appointing bankers, a top executive told Reuters on Tuesday. The company is in active talks with Bank of America, Citi, JP Morgan and Morgan Stanley to manage the offer and plans to list on the Indian bourses in the second half of 2025, its Chief Financial Officer Bhavesh Keswani said. The initial public offeri...
SoftBank-backed OfBusiness plans up to $1 billion India IPO, exec says
SoftBank-backed OfBusiness plans up to $1 billion India IPO, exec says
Source: Reuters
2024-09-03 04:59:08 pm
Brainbees Solutions coming with IPO to raise Rs 4288.74 crore Brainbees Solutions   Brainbees Solutions (Firstcry) is coming out with a 100% book building; initial public offering (IPO) of 9,22,30,945 shares of Rs 2 each in a price band Rs 440-465 per equity share.        At least 75% of the issue will be allocated to Qualified Institutional Buyers (QIBs), including 5% to the mutual funds. Further, not more than 15% of the issue will be available for the non-institutional bidders and the remaining 10% for the retail i...
Brainbees Solutions coming with IPO to raise Rs 4288.74 crore
Brainbees Solutions coming with IPO to raise Rs 4288.74 crore
Source: Accord Fintech
2024-08-05 03:33:41 pm
Oil steadies, weighed down by predicted surplus amid weak demand Oil prices steadied on Tuesday after falling for the past two sessions, as investors remained cautious amid expectations of plentiful supplies and weak demand, while brushing off the U.S. presidential campaign upheaval. Brent crude futures for September rose 2 cents to $82.42 a barrel by 0320 GMT. U.S. West Texas Intermediate crude for September dipped 2 cents to $78.38 per barrel. Traders mostly ignored U.S. President Joe Biden's decision to call off his reelection bid and endorse ...
Oil steadies, weighed down by predicted surplus amid weak demand
Oil steadies, weighed down by predicted surplus amid weak demand
Source: Reuters
2024-07-23 08:27:10 am
Wipro shares nosedived over 9 pc after missed earnings expectations  Shares of IT major Wipro nosedived on Monday by nearly 9.3 per cent over missed expectations in its April-June quarter results and a weak guidance for the next quarter.  Wipro’s stock closed Rs 51.85 down at Rs 505.35, after it reported a one per cent quarter-on-quarter (QoQ) decline in its consolidated revenue in the results declared on Friday. According to brokerages, the early recovery in discretionary demand could potentially boost Wipro's future performance. ...
Wipro shares nosedived over 9 pc after missed earnings expectations
Wipro shares nosedived over 9 pc after missed earnings expectations
Source: IANS
2024-07-22 06:09:26 pm
India's Wipro tanks after Q1 results disappoint Wipro's shares dropped the most in more than four years on Monday morning as investors punished India's no. 4 IT services firm for its poor growth at a time when rivals talked of a return of client spending and posted strong results. Shares of the company were down about 8.5% as of 09:46 a.m. IST, making it the top loser on the Nifty IT index, which is down 0.4%. The company's 3.8% drop in June quarter revenue missed analyst expectations and was in contrast to the better-tha...
India's Wipro tanks after Q1 results disappoint
India's Wipro tanks after Q1 results disappoint
Source: Reuters
2024-07-22 10:44:56 am
India`s HCLTech gains on growth outlook, demand recovery hopes Shares of HCLTech rose as much as 5% in early trading on Monday after India's No.3 IT services provider projected growth in most verticals and geographies in the upcoming quarter. HCLTech, which hit the highest since March 19, was the top gainer in the Nifty 50 index and IT services index, which were up 0.2% and 0.8%, respectively, with both the indexes hitting a record high. The Noida-based company on Friday reported a 6.7% rise in first-quarter revenue. At least 18 analysts rai...
India`s HCLTech gains on growth outlook, demand recovery hopes
India`s HCLTech gains on growth outlook, demand recovery hopes
Source: Reuters
2024-07-15 09:58:10 am
Rupee expected to decline on the back of rising US yields  The Indian rupee is expected to decline at the open on Tuesday, weighed down by a further rise in U.S. Treasury yields amid increasing expectations of Donald Trump winning the U.S. presidency. Non-deliverable forwards indicate the rupee will open at 83.47-83.48 to the U.S. dollar, compared with 83.4375 in the previous session. Asian currencies were down between 0.1% and 0.5%, with the offshore Chinese yuan dipping below 7.3050 to the U.S. dollar. In line with Asia, the rupee will ...
Rupee expected to decline on the back of rising US yields
Rupee expected to decline on the back of rising US yields
Source: Reuters
2024-07-02 08:43:40 am
Health insurer Niva Bupa files draft papers for Rs 3,000 crore IPO Board of India (SEBI) to raise about Rs 3,000 crore ($360 million) via an initial public offering (IPO).  The draft papers filed by True North-backed Niva Bupa Health Insurance Company Ltd have a fresh issue of Rs 800 crore for the public and an offer for sale (OFS) of up to Rs 2,200 crore by existing shareholders. The OFS comprises up to Rs 320 crore shares by Bupa Singapore Holdings Pte and Rs 1,880 crore by Fettle Tone LLP. Bupa Singapore Holdings has a 62.27 per cent stake i...
Health insurer Niva Bupa files draft papers for Rs 3,000 crore IPO
Health insurer Niva Bupa files draft papers for Rs 3,000 crore IPO
Source: IANS
2024-07-01 11:49:55 am
Mobile tariff hike may result in Rs 20,000 cr additional operating profits for telcos: Experts The latest round of 15-20 per cent mobile tariff hikes for prepaid and postpaid plans by telecom service providers (TSPs) can result in additional operating profits of around Rs 20,000 crore for the industry once these hikes are fully absorbed, industry experts said on Friday.  Bharti Airtel and Reliance Jio are likely to witness a significant average revenue per user (ARPU) benefit after the tariff hike. Vodafone Idea is yet to implement the mobile tariff hike. "This will res...
Mobile tariff hike may result in Rs 20,000 cr additional operating profits for telcos: Experts
Mobile tariff hike may result in Rs 20,000 cr additional operating profits for telcos: Experts
Source: IANS
2024-06-28 04:05:35 pm
PM Gati Shakti scheme has scaled up India`s infra, spurred growth: Morgan Stanley Global investment bank and financial company Morgan Stanley has stated that the PM Gati Shakti scheme has succeeded in giving a new fillip to India’s infrastructure development and multi-modal connectivity across highways, railways and ports that has spurred economic growth. According to the report, India has scaled up its infrastructure strongly over the last decade, with higher investment that is also better targeted and potentially more productive. "We expect India's i...
PM Gati Shakti scheme has scaled up India`s infra, spurred growth: Morgan Stanley
PM Gati Shakti scheme has scaled up India`s infra, spurred growth: Morgan Stanley
Source: IANS
2024-06-28 11:44:59 am
India`s Godrej Properties reports Q4 revenue drop as muted pricing weighs Indian real estate developer Godrej Properties reported a fall in fourth-quarter revenue on Friday, weighed by muted pricing in the key market of Mumbai. Shares of the company dipped after results, but recouped losses to trade up 0.3% as of 1:56 p.m. IST. WHY IT'S IMPORTANT Indian real estate developers have been racing to keep up with a buoyant post-pandemic housing demand by beefing up their land banks as homebuyers lap up pricier apartments, unfazed by high borrowing rates. ...
India`s Godrej Properties reports Q4 revenue drop as muted pricing weighs
India`s Godrej Properties reports Q4 revenue drop as muted pricing weighs
Source: Reuters
2024-05-03 03:30:09 pm
Rupee to see muted reaction to US inflation flare-up The Indian rupee is expected to open little changed on Friday, despite a pick-up in U.S. inflation which spurred a rise in U.S. Treasury yields and further reduced the likelihood of imminent Federal Reserve rate cuts. Non-deliverable forwards indicate the rupee will open at 83.30-83.32 to the U.S. dollar, compared with its close of 82.3150 in the previous session. The losses in other Asian currencies were moderate, with most down just about 0.1%. I "would have thought that Asia ...
Rupee to see muted reaction to US inflation flare-up
Rupee to see muted reaction to US inflation flare-up
Source: Reuters
2024-04-26 08:59:08 am
Domestic demand improved on a sequential basis in March: Morgan Stanley India’s domestic demand-based high-frequency data rose on a sequential basis, even as it slowed in year-on-year terms in March, global brokerage Morgan Stanley said. “Domestic demand improved on a sequential basis in March, while macro stability reflects strength in the fundamentals. We maintain our constructive outlook on the economy," the brokerage said. Revenue from GST collections came in at Rs 1.78 trillion, up 12.5 per cent YoY, and taking the F2024 average to Rs ...
Domestic demand improved on a sequential basis in March: Morgan Stanley
Domestic demand improved on a sequential basis in March: Morgan Stanley
Source: IANS
2024-04-23 04:56:06 pm
Pickup in corporate capex to drive growth momentum Global brokerage Morgan Stanley expects the capex recovery in India to become broad-based with private capex to lead the next leg of recovery. Anecdotal evidence suggests nascent signs of a pickup in corporate capex, reflecting new investment announcements made recently, with approval for three semiconductor chip manufacturing plants entailing an investment of $15 billon and the new approved EV policy that could trigger investments in electric vehicles, the brokerage said. “In thi...
Pickup in corporate capex to drive growth momentum
Pickup in corporate capex to drive growth momentum
Source: IANS
2024-04-16 01:58:17 pm
Asian central banks likely to cut rates from late June onwards: Morgan Stanley  Asian central banks are likely to begin cutting rates from late June onwards, global brokerage Morgan Stanley said. “Across the region, real rates are rising given lower inflation. As long as central banks begin to cut rates from June-July, the downside to growth will be mitigated by improving exports and capex. The risk is if rate cuts are delayed to next year,” Morgan Stanley said. As inflation continues its downward descent, real rates across Asia are rising. Centra...
Asian central banks likely to cut rates from late June onwards: Morgan Stanley
Asian central banks likely to cut rates from late June onwards: Morgan Stanley
Source: IANS
2024-04-10 02:51:05 pm
Blackstone eyes $300 million IPO of India diamond certification firm Blackstone is exploring raising $300 million via an India IPO of the International Gemological Institute (IGI), less than a year after it acquired the company, amid booming stock markets in the region, three people familiar with the matter said. Blackstone acquired IGI for $570 million in May 2023 from Chinese conglomerate Fosun and the business's founding Lorie family. IGI has most of its business in India and describes itself as the world's largest independent lab for testing and...
Blackstone eyes $300 million IPO of India diamond certification firm
Blackstone eyes $300 million IPO of India diamond certification firm
Source: Reuters
2024-04-03 09:21:45 am
India`s Embassy REIT plans to raise up to $400 million, hires banks, sources say  India's largest real estate investment trust, Embassy Office Parks, plans to raise up to $400 million from investors, two sources with direct knowledge said, as it looks to meet demand for office space from global and local giants. Embassy, which manages 45 million square feet (4.18 million square meters) of office parks, has clients including Google, Cisco and IBM who are bolstering their presence in the world's fifth biggest economy. The property group has appointed inve...
India`s Embassy REIT plans to raise up to $400 million, hires banks, sources say
India`s Embassy REIT plans to raise up to $400 million, hires banks, sources say
Source: Reuters
2024-04-02 02:43:05 pm
Morgan Stanley raises India`s GDP growth estimate to 6.8 pc for 2025 Global brokerage Morgan Stanley has raised India’s GDP growth expectation to 6.8 per cent in 2025 from 6.5 per cent on continued traction in industrial and capex activity. “We raise GDP growth to 6.8 per cent YoY in F2025, a rise of 30bps from our earlier estimate of 6.5 per cent, on continued traction in industrial and capex activity. On CY basis, we expect growth at 6.8 per cent YoY for 2024, from 6.4 per cent earlier”, it said. “We expect GDP growth to track a...
Morgan Stanley raises India`s GDP growth estimate to 6.8 pc for 2025
Morgan Stanley raises India`s GDP growth estimate to 6.8 pc for 2025
Source: IANS
2024-03-27 01:59:56 pm
Tim Cook extends Holi wishes with colourful picture shot on iPhone  Apple CEO, Tim Cook on Monday extended Holi wishes. Cook, who shared the greetings on X, added a picture showcasing the festival's vibrant colour and joy, shot on the iPhone. The image was clicked by photographer Joshua Karthik. "Happy Holi to all who celebrate! Thank you @joshuakarthikr for sharing this beautiful #ShotOniPhone photo that captures the colorful festival," he wrote in the post. Meanwhile, Apple's revenue in India rose nearly 42 per cent (on-year) l...
Tim Cook extends Holi wishes with colourful picture shot on iPhone
Tim Cook extends Holi wishes with colourful picture shot on iPhone
Source: IANS
2024-03-25 04:33:28 pm
Capex has emerged as a key growth driver in India: Morgan Stanley A decade after steadily decline in investment to GDP, capex has emerged as a key growth driver in India, global brokerage, Morgan Stanley said. “We think the capex cycle has more room to run, therefore the current expansion closely resembles that of 2003-07,” it added. The most important feature of this expansion is that investment ratios are picking up after an 11-year decline, Morgan Stanley said. “We see a long runway ahead for the current expansion cycle and rem...
Capex has emerged as a key growth driver in India: Morgan Stanley
Capex has emerged as a key growth driver in India: Morgan Stanley
Source: IANS
2024-03-13 03:34:14 pm
Strong demographic trend a structural positive for India: Morgan Stanley  India’s demographic trend of a younger workforce positions it positively as most large economies face shrinking working-age populations and tight labour markets, global brokerage, Morgan Stanley said. Per UN estimates, India's working-age population will continue to grow until 2037, with age dependency falling until 2032, and India will account for 21 per cent of the incremental increase in global working-age population in the next 10 years. “As such, we envisage t...
Strong demographic trend a structural positive for India: Morgan Stanley
Strong demographic trend a structural positive for India: Morgan Stanley
Source: IANS
2024-03-12 02:37:30 pm
Elon Musk says X could soon receive payment licenses in New York, California Elon Musk said on Wednesday that his social media platform X could soon receive approval for a money transmitter license in New York, putting the platform a step closer to offering payment features. While speaking at the Morgan Stanley technology, media and telecom conference, Musk also said X could receive its license in California in the next month or so, while getting the New York approval could be "a few months away". Since acquiring the company formerly known as Twitter i...
Elon Musk says X could soon receive payment licenses in New York, California
Elon Musk says X could soon receive payment licenses in New York, California
Source: Reuters
2024-03-07 09:02:48 am
Rupee awaits key US inflation data, bias on upside The Indian rupee is expected to have a quiet day on Thursday, as traders await a U.S. inflation reading that will be important in guiding expectations on when the Federal Reserve will cut interest rates. Non-deliverable forwards indicate the rupee will open marginally higher to the U.S. dollar from 82.9225 in the previous session. The rupee's intraday range in each of the last three sessions has been less than six paisa. It "will again be a nothing kind of a day without any dir...
Rupee awaits key US inflation data, bias on upside
Rupee awaits key US inflation data, bias on upside
Source: Reuters
2024-02-29 08:44:54 am
Asian central banks will not cut rates ahead of the Fed: Morgan Stanley The latest commentary from Asian central banks signals that they have adopted a wait-and-see approach to rate cuts, foreign brokerage, Morgan Stanley said. While inflation is coming off, in most of the region's economies it has either just reached the target range or is still closing the gap to target range. Central banks are not sounding outright dovish, however, as dollar strength has meant that Asian currencies remain on the weaker side. The potential for further depreciation could ...
Asian central banks will not cut rates ahead of the Fed: Morgan Stanley
Asian central banks will not cut rates ahead of the Fed: Morgan Stanley
Source: IANS
2024-02-27 02:06:41 pm
Apple`s India revenue up 42% to $8.7 bn in 2023: Morgan Stanley Apple's revenue in India rose nearly 42 per cent (on-year) last year to $8.7 billion, foreign brokerage Morgan Stanley said in a report on Friday. According to the report, iPhone shipments grew about 39 per cent to 9.2 million units last year. “In CY23, India represented 4 per cent of iPhones shipments and revenue, up from 3 per cent in CY22 and 1 per cent 5 years ago,” said analysts in the report. “If India continues to grow at the same trajectory while China i...
Apple`s India revenue up 42% to $8.7 bn in 2023: Morgan Stanley
Apple`s India revenue up 42% to $8.7 bn in 2023: Morgan Stanley
Source: IANS
2024-02-23 04:56:55 pm
Rupee helped by weak US data, nine-month low India trade deficit  The Indian rupee will open marginally higher on Friday in the wake of a pullback on the dollar following disappointing U.S. retail sales and industrial output data. Non-deliverable forwards indicate the rupee will open at around 82.99-83.01 to the U.S. dollar, compared with the previous session's closing of 83.0425. India's merchandise trade deficit moderated to a 9-month low at $17.5 billion in January, while the services surplus rose to $16.8 billion. The data was out du...
Rupee helped by weak US data, nine-month low India trade deficit
Rupee helped by weak US data, nine-month low India trade deficit
Source: Reuters
2024-02-16 08:59:50 am
Hyundai explores $3 billion IPO for India unit at $25-30 billion valuation, sources say Hyundai Motor is exploring an IPO for its Indian unit to raise at least $3 billion as early as this year at a valuation of up to $30 billion, potentially making it the country's biggest ever stock offering, two sources said. Hyundai Motor India is in early stage talks for the initial public offering and has held discussions with several banks, said the two sources who have been briefed on the matter. A spokesperson at the South Korean automaker's India unit declined to comment. ...
Hyundai explores $3 billion IPO for India unit at $25-30 billion valuation, sources say
Hyundai explores $3 billion IPO for India unit at $25-30 billion valuation, sources say
Source: Reuters
2024-02-05 12:40:00 pm
Rupee to weaken after Fed March rate odds fall further on Powell, US jobs report The Indian rupee is expected to decline at open on Monday after a robust U.S. jobs report and comments by Federal Reserve Chair Jerome Powell prompted a plunge in the odds of an interest rate cut in March. Non-deliverable forwards indicate the rupee will open at around 83 to the U.S. dollar, compared with its close of 82.9175 in the previous session. Investors are now pricing in only a 15% probability that the Fed will cut rates at its next meeting in March. The dollar index climbed to ...
Rupee to weaken after Fed March rate odds fall further on Powell, US jobs report
Rupee to weaken after Fed March rate odds fall further on Powell, US jobs report
Source: Reuters
2024-02-05 09:24:23 am
Morgan Stanley prefers Japan & India equities versus overall emerging markets  Foreign brokerage, Morgan Stanley said in a report that it continues to prefer Japan and India versus overall emerging markets (EM) and China this year. MSCI EM has remained weak at the index level with YTD performance of -6.1 per cent, following subdued absolute and relative performance in 2023. Within EM markets, the top three performers are Turkey, Egypt, Colombia; in contrast, Korea, Chile, Hong Kong were the bottom three performing markets. Within EM sectors, all sectors have...
Morgan Stanley prefers Japan & India equities versus overall emerging markets
Morgan Stanley prefers Japan & India equities versus overall emerging markets
Source: IANS
2024-01-22 02:01:04 pm
Rupee to open higher on robust India GDP, cooling US inflation The Indian rupee is likely to open higher on Friday following robust domestic economic data, while a separate report indicated U.S. inflation was cooling. Non-deliverable forwards indicate the rupee will open at around 83.33-83.34 to the U.S. dollar compared with 83.3950 in the previous session. The local currency was a significant underperformer compared to Asian peers in November, and it is expected that there is not much room for the rupee to appreciate. Despite opening higher, th...
Rupee to open higher on robust India GDP, cooling US inflation
Rupee to open higher on robust India GDP, cooling US inflation
Source: Reuters
2023-12-01 10:08:59 am
India to remain fastest-growing major economy, but demand uneven India's economic expansion likely moderated but remained strong in the September quarter, supported by robust service activity and solid urban demand despite a global slowdown dampening export growth, according to a Reuters poll of economists. Gross domestic product (GDP) growth is forecast to have slowed to 6.8% in the July-September quarter from 7.8% in the previous quarter, according to the median forecast of 55 economists polled from Nov. 17-27. But forecasters see that as a min...
India to remain fastest-growing major economy, but demand uneven
India to remain fastest-growing major economy, but demand uneven
Source: Reuters
2023-11-27 12:30:16 pm
Morgan Stanley gives Sensex target of 74K by December 2024 Morgan Stanley has given a BSE Sensex target of 74,000 implying upside potential of 14 per cent to December 2024. This level suggests that the BSE Sensex will trade at a trailing P/E multiple of 24.7x, ahead of the 25-year average of 20x. The premium over the historical average reflects greater confidence in the medium-term growth cycle in India, the brokerage said. This is the Base case with a 50 per cent probability with BSE Sensex at 74,000. This assumes continuity in a government wi...
Morgan Stanley gives Sensex target of 74K by December 2024
Morgan Stanley gives Sensex target of 74K by December 2024
Source: IANS
2023-11-16 05:34:54 pm
Japan and India to lead Asia, emerging market equities Morgan Stanley expects GDP and EPS growth to again beat expectations in Japan and India and miss in China and emerging markets (EM) in 2024. “We trim our MSCI EM target again to 1,000 (4 per cent upside), with our previously below-consensus earnings forecasts lowered by another 5 per cent across 2023-25. Key headwinds include the slowing global growth backdrop, higher interest expense burdens and further weakness in key EM exchange rates against the USD-denominated index," said ...
Japan and India to lead Asia, emerging market equities
Japan and India to lead Asia, emerging market equities
Source: IANS
2023-11-16 04:47:11 pm
India`s record merchandise trade deficit in October likely to be a one-off The sharp widening in India's merchandise trade deficit in October to a record level, fuelled by a broad-based rise in imports, will likely be an outlier, analysts said. India's merchandise trade deficit rose to an all-time high of $31.46 billion in October, widening sharply from the $19.37 billion print in the prior month. Imports jumped from $65 billion from $53.8 billion. "On a sequential basis, about 70% of the uptick in imports in October is led by oil, gold and silver...
India`s record merchandise trade deficit in October likely to be a one-off
India`s record merchandise trade deficit in October likely to be a one-off
Source: Reuters
2023-11-16 11:22:51 am
India`s Tata Technologies sets IPO price band at 475-500 rupees per share India's Tata Technologies set a price band of 475-500 rupees per share for its initial public offering, per a term sheet and newspaper ad on Thursday, valuing the first Tata Group company to go public in nearly two decades at roughly $2.5 billion. India has had a record 194 IPOs so far this year, during which the stock market has hit record highs as the country's economic growth prospects and a vast consumer base make it an attractive prospect for companies and investors. Tata T...
India`s Tata Technologies sets IPO price band at 475-500 rupees per share
India`s Tata Technologies sets IPO price band at 475-500 rupees per share
Source: Reuters
2023-11-16 09:10:51 am
India`s Tata Technologies` IPO to open on November. 22 India's Tata Technologies' initial public offering will open for subscription on Nov. 22, its parent Tata Motors said late Monday, in what will be the first Tata Group IPO in nearly two decades. Tata Technologies, which provides engineering and product development digital services, said its IPO would comprise an offer for sale of 60.9 million shares, representing 15% of its paid-up capital. That is lower than the 23.6% indicated in its draft prospectus. Tata Motors will offlo...
India`s Tata Technologies` IPO to open on November. 22
India`s Tata Technologies` IPO to open on November. 22
Source: Reuters
2023-11-14 10:41:00 am
Morgan Stanley says RBI likely to hike interest rates if oil soars to $110  Leading global investment bank Morgan Stanley expects the RBI to raise interest rates again if the price of crude oil rises to $110 as this would result in an increase in inflation and a spike in the country’s current account deficit. Since India imports over 80 per cent of its crude oil, the country’s economy is highly susceptible to rising crude prices. A $10 increase in oil prices boosts inflation by 50 basis points and contributes to a 30 basis-point widening in the c...
Morgan Stanley says RBI likely to hike interest rates if oil soars to $110
Morgan Stanley says RBI likely to hike interest rates if oil soars to $110
Source: IANS
2023-11-06 01:40:11 pm
India could be world`s 3rd largest economy by 2027 with nominal GDP of $5tn  India’s importance as a global growth driver will increase with its share of world growth contribution rising from 10 per cent in 2021 to 15 per cent in 2022, and further to 17 per cent in 2023-28, foreign brokerage Morgan Stanley said in a report. "On a USD basis, we expect India’s nominal GDP growth to accelerate to 12.4 per cent Y in F2025 (vs. 7 per cent in F2024), outperforming China, the US and Euro Area. The high terminal growth rate will mean India’s ec...
India could be world`s 3rd largest economy by 2027 with nominal GDP of $5tn
India could be world`s 3rd largest economy by 2027 with nominal GDP of $5tn
Source: IANS
2023-11-06 12:08:07 pm
Anand Rathi Advisors acts as exclusive financial advisor and Co-arranger to the Narayana Group Anand Rathi Advisors is delighted to announce that the Narayana Group has successfully raised financing to facilitate an exit for its Private Equity investors, Morgan Stanley Private Equity and Banyan Tree Capital Incorporated in 1979, Narayana group is one of the largest education institution in K12 segment and caters to full student life cycle from pre-primary to junior college with 480K+ students across 800+ centers in 22 states. Apart from K12, the group also provides private coaching ...
Anand Rathi Advisors acts as exclusive financial advisor and Co-arranger to the Narayana Group
Anand Rathi Advisors acts as exclusive financial advisor and Co-arranger to the Narayana Group
Source: PR Agency
2023-11-03 05:15:58 pm
Rupee wrestles with rise in US yields, dollar before Fed outcome The Indian rupee is expected to struggle on Wednesday in the wake of a rise in U.S. Treasury yields and weakness in Asian currencies. Non-deliverable forwards indicate the rupee will open at around 83.26-83.2650 to the U.S. dollar, compared with 83.25 in the previous session. "We will have one more day in which it (USD/INR) will find a lot of buyers. That buying will not amount to much until the RBI (Reserve Bank of India) allows 83.30 to be taken out," a spot currency trader ...
Rupee wrestles with rise in US yields, dollar before Fed outcome
Rupee wrestles with rise in US yields, dollar before Fed outcome
Source: Reuters
2023-11-01 08:59:38 am
Fed decision key for Indian rupee, while bonds also await OMO sales The Indian rupee and government bonds will react to the U.S. Federal Reserve's policy outcome this week, along with data that will provide cues on how the world's largest economy fared. Another crucial marker for yields will be whether the Reserve Bank of India (RBI) starts selling bonds via open market operations (OMO) this week. The rupee is expected to continue in the 83.0650 to 83.2550 per U.S. dollar range it held last week. It ended at 83.2450 on Friday. While the Fed i...
Fed decision key for Indian rupee, while bonds also await OMO sales
Fed decision key for Indian rupee, while bonds also await OMO sales
Source: Reuters
2023-10-30 09:10:32 am
KKR-backed Avendus to tap tech investment banking deals in Southeast Asia Indian financial services firm Avendus will start offering investment banking services from Singapore to cash in on an expected technology sector dealmaking boom in the Southeast Asia region.Majority owned by U.S. private equity giant KKR, Avendus is best known in India for advising large startups such as SoftBank-backed food delivery firm Swiggy and eyewear retailer Lenskart on their fund raising.Karan Sharma, a managing director for Avendus in India said the operations from Singapore will f...
KKR-backed Avendus to tap tech investment banking deals in Southeast Asia
KKR-backed Avendus to tap tech investment banking deals in Southeast Asia
Source: Reuters
2023-10-18 11:07:14 am
India bond index inclusion set to test central bank`s liquidity, FX management India's inclusion next year in the JPMorgan emerging market debt index, which could draw up to $25 billion in inflows over a short period, would need more active currency intervention and liquidity management from the central bank, two sources said.Analysts have estimated the inclusion, which will happen from June 2024, could bring in that sum over a 10-month period but people aware of the Reserve Bank of India's (RBI) thinking expect flows to be lower as roadblocks remain."There are speed br...
India bond index inclusion set to test central bank`s liquidity, FX management
India bond index inclusion set to test central bank`s liquidity, FX management
Source: Reuters
2023-09-26 02:49:36 pm
Citi, Bank of America see India`s 10-yr bond yield sub-7% post index inclusion JPMorgan's decision to include local Indian bonds in its widely tracked emerging market debt index could boost demand for debt and push India's benchmark 10-year bond yield to sub-7% levels in the coming months, Citi and Bank of America said on Friday.The 10-year benchmark 7.18% 2033 bond yield dropped seven basis points (bps) to 7.0717% in early trades on Friday, the lowest for the 10-year yield since July 27, compared to its previous close of 7.1443%. It was last at 7.1214%.India's local bo...
Citi, Bank of America see India`s 10-yr bond yield sub-7% post index inclusion
Citi, Bank of America see India`s 10-yr bond yield sub-7% post index inclusion
Source: Reuters
2023-09-22 02:03:57 pm
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
Apple`s iPhone seen gaining market share in India as Pro model demand rises Apple is expected to gain a larger share of India's smartphone sales, with the high-end iPhone 15 Pro and Pro Max models accounting for more of its shipments.The company is projected to account for 7% of all smartphone sales in the country from July to December, up from 5% in the first half of 2023, according to data from market researcher Counterpoint shared exclusively with Reuters.The tech giant has been touting India as its next big growth driver amid declining sales of its flagship devic...
Apple`s iPhone seen gaining market share in India as Pro model demand rises
Apple`s iPhone seen gaining market share in India as Pro model demand rises
Source: Reuters
2023-09-22 09:26:22am