Shares of Bajaj Finance sprinted 4.7 per cent to Rs 7,732 per share on the BSE in Thursday's (January 4) intra-day trade as the non-bank finance company's (NBFC's) December quarter business update reflected minimal impact of the Reserve Bank of India's ban on two of its lending products. The shares, eventually, ended 4.4 per cent higher at Rs 7,710 per share as against 0.69 per cent gain in the benchmark S&P BSE Sensex. The NBFC's asset under management (AUM) topped the Rs 3-trillion-mark at the end of December 2023, swelling by roughly Rs 20,700 crore (35 per cent year-on-year) to hit Rs 3.11 trillion-mark.
Reliance Industries may report a muted performance for the April-June quarter of FY24, with most brokerages expecting it to have witnessed a year-on-year (YoY) and quarter-on-quarter (QoQ) contraction in revenue and net profit during the period because of a poor showing by its oil-to-chemicals (O2C) division. The O2C division, which includes refining and petrochemical businesses, accounts for a little over half of RIL's revenue and profit. A muted showing by RIL in the first quarter of 2023-24 may weigh on the overall corporate earnings, as well as the equity markets.
After pumping in close to $20 billion in the preceding five months, foreign portfolio investors (FPIs) have yanked out $220 million from domestic stocks this month. The selling by overseas funds has led to turbulence in the domestic markets, with benchmark indices swinging wildly recently.
This is despite the fact that total FDI into India has fallen by 22 per cent from $58 billion in FY22 to $46 billion in FY23, according to the Reserve Bank of India.
The 14-year political journey of Trinamool Congress leader Mahua Moitra has encountered both upheaval and elevation, as her expulsion from Parliament in a cash-for-query case marked the culmination of her tumultuous parliamentary term.
British TV personality Piers Morgan has trolled Dutch footballer Robin van Persie, whose switch from Arsenal to Manchester United has been a sore point for many, on Twitter after Manchester United beat Crystal Palace on Saturday.
Notwithstanding concerns about lofty valuations, smallcaps recorded their most significant monthly gain in nearly three years in November. The National Stock Exchange Nifty Smallcap 100 finished the month with a 12 per cent gain, the most since February 2021 when it rose by 12.2 per cent. After declining by 4.1 per cent in the preceding month, the Nifty Midcap 100 rose by 10.4 per cent, the most since July 2022.
Parkway, which is the biggest listed hospital chain in Asia, is now at the centre of a probable bidding war between the Singh Family-promoted Fortis Healthcare and Khazanah.
Wage hikes and rupee depreciation may affect the business.
The bullishness in the Indian stock market is likely to continue and the benchmark Sensex will reach 32,500 by December 2015, global brokerage firm Morgan Stanley said.
Foreign Portfolio Investors' (FPIs) selling spree continues as they pulled out over Rs 3,400 crore from the Indian equity markets in the first three trading sessions of November on rising interest rates and geopolitical tensions in the Middle East. This came after such investors withdrew Rs 24,548 crore in October and Rs 14,767 crore in September, data with the depositories showed. Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period.
England have rested Alastair Cook, James Anderson, Ian Bell, Stuart Broad and Graeme Swann for the five-match One-Day International series against Australia next month.
Morgan Stanley said two of three RIL's core divisions face near-term headwinds.
Eoin Morgan kept up his purple patch of form and Paul Collingwood achieved an England landmark in a four-wicket win over Australia in the second one-day international in Cardiff on Thursday.
Global banks Morgan Stanley and Citigroup and private equity firm Actis today collectively bought a six per cent stake in the National Stock Exchange (NSE) for an undisclosed sum.
IMAGES from the Premier League matches played on Saturday.
Mukesh Ambani-owned TV18 Broadcast was valued at $824 million.
The report said in the recent months policy makers as well as the private sector have made some efforts to improve productivity.
Morgan Stanley Real Estate, the realty arm of global financial services firm Morgan Stanley, on Wednesday said it plans to invest $1 billion (Rs 4,600 crore) in next 4-5 years in India.
Reserve Bank of India (RBI) Governor Shaktikanta Das had stumped the market in the previous two policies - in August and in October - first with action and then with words. In August, it was the introduction of an incremental cash reserve ratio (I-CRR) to take out excess liquidity, which took the markets by surprise. In October, there was no action. Rather, what is known as "open mouth operation", Das' comment that the central bank might conduct open market operations (OMOs) by selling bonds tempered the euphoria in the bond markets after JP Morgan's inclusion of India in its Emerging Market Bond Index.
England captain Eoin Morgan on Wednesday said their belief in playing "aggressive brand of cricket" has played a big role in the team's progress to the final of the ICC World Twenty20, in New Delhi. England stormed into the final of the ICC World Twenty20 with a comprehensive seven-wicket victory over New Zealand, riding on opener Jason Roy's blazing 78.
Morgan Freeman is divorcing his wife after being married for 24 years, say his lawyer. The Dark Knight star has announced his split with second wife Myrna Colley-Lee following a divorce action.
Three global investment firms -- Morgan Stanley, Deutsche Bank and Goldman Sachs -- have picked up a total of 10 per cent stake in city-based software firm Core Projects and Technologies Ltd at a combined investment of Rs 39.76 crore (Rs 397.6 mn).
Sounding bullish on the stock markets, it pegged the Sensex target at 23,000 by December.
Vedanta Resources (VRL), the diversified mining company headquartered in London, is giving final touches to a plan to raise up to $2.5 billion (about Rs 20,800 crore) as debt repayment deadlines near. The company owned by billionaire Anil Agarwal plans to do this by a combination of instruments, including issuing preference shares in the holding company to a slew of offshore investors from West Asia, and taking on another loan to refinance older debt at a higher interest rate. VRL, which is the group's holding company, is also looking to sell part of its 63.71 per cent stake in the Indian listed subsidiary Vedanta Ltd to meet funding requirements, said a banker close to the development.
ICC president elect David Morgan wants an increased use of technology to ensure against a repeat of the on-field controversies that marred the Sydney Test between India and Australia.
No 'triple bagel' but Djokovic thumps Mannarino to reach quarters
Kolkata Knight Riders skipper Gautam Gambhir says Eoin Morgan's 29-ball 47 was instrumental in their comfortable 48-run victory over Sunrisers Hyderabad in their IPL fixture in Kolkata on Sunday.
The launch of internet-enabled Jio Bharat phones at an "attractive pricing" will enable Jio to gain market share at the lower end segment and signals a reduced probability of tariff hike in the near term, brokerages tracking the sector said. Jio on Monday launched internet-enabled Jio Bharat phones at Rs 999, packing in a cheaper monthly plan of Rs 123 for unlimited voice calls and 14 GB data. The new offering aims to accelerate the '2G Mukt Bharat' vision, as India still has 250 million mobile subscribers trapped in the 2G era with feature phones.
The CAD has been narrowing since 2012 to an estimated 1.6% of GDP in 2014
Five Indian-origin women executives have made it to Barron's prestigious annual '100 Most Influential Women in US Finance' list for achieving positions of prominence in the financial services industry and helping shape its future. Barron's is a sister publication of the Wall Street Journal, published by Dow Jones and Company. "The list honours established and emerging leaders in financial services, the corporate world, nonprofit organisations, and government," the magazine said in a press release.
Comparative to other Asian GDP growths, India would have the fastest economic expansion, it said
India Investment Banking chairman V K Bansal spoke to Abhineet Kumar on various issues related to equity capital markets
Brent crude oil prices may rise to $110 a barrel in 2023, up nearly 33 per cent from the current levels, said analysts at Morgan Stanley, in a recent note. This is, however, lower than the peak level of nearly $127 touched earlier in 2022 as geopolitical concerns took centre stage amidrising demand. "Looking ahead, Brent oil price growth will decelerate even more in the coming quarters. "This comes even as our global oil strategist expects a rise in oil prices back to $110 a barrel by the second half of 2023.
Says that inflation is pushed up because welfare schemes.
''The outcome of the state polls may lead to some strategy-related permutations and combinations and the markets may extrapolate it to the likely outcome in the general elections.'
Sri Lanka captain Mahela Jayawardene is wary of England's devastating duo Eoin Morgan and Luke Wright and believes dismissing them cheaply in Monday's World Twenty match is key to maintaining his team's winning momentum.
Equity markets rallied after softer-than-expected inflation data in the US and UK rekindled hopes of the end of the rate-hiking cycle by major central banks. The soft inflation reading drove down bond yields and the US dollar, whetting the appetite for risky assets. The 10-year US bond yield fell below 4.5 per cent after topping 5 per cent less than a month ago.
The trustee liquidating the assets of imprisoned scamster Bernard Madoff has sued J P Morgan seeking damages worth $6.4 billion for allegedly aiding the fraud committed by him.
England's stand-in Twenty20 skipper Eoin Morgan has said that his team will carry the confidence of 2-1 Test series victory over India into the two-match T20 series, commencing at the Subrata Roy Sahara Stadium in Pune on Thursday.
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