Financial services firm Morgan Stanley has said its chief executive officer John J Mack is stepping down next year and will be replaced by co-president James Gorman.
There was no smooth surge in middle class prosperity for foreign businesses to tap into because of the Indian economy was mismanaged, argues Debashis Basu.
The general elections in April/May 2024 are expected to add volatility to the Indian markets, keeping investors on their toes.
By financial year 2024-25, Morgan Stanley expects per capita income to rise 125 per cent to $3,650.
Morgan Stanley has big plans to invest in India's real estate.
Citing various macroeconomic parameters that are doing pretty well, India's G20 Sherpa and former CEO of Niti Aayog Amitabh Kant projected that the country is all set to overtake Japan as 4th largest economy in the world by 2025. The size of India's GDP is currently ranked 5th, after the US, China, Germany, and Japan. It overtook the UK in 2022.
The ongoing consolidation in equities would improve return prospects during the second half of 2021, an American brokerage said on Tuesday. Leading indicators relating to fundamentals including growth, stability, government policy and RBI policy, and corporate earnings are "generally positive" about equity returns, analysts at Morgan Stanley said. It can be noted that since the start of the second wave of COVID-19 infections, which also coincided with inflation worries in the US, there has been an uneasiness within investors. From its levels on March 10, the markets are down by nearly 3 per cent despite the late surge over the last two trading sessions.
American brokerage Morgan Stanley on Thursday slashed its Sensex target for the next 12 months to 18,200, citing weakening macro fundamentals of the economy.
Morgan Stanley's Asia and Global Emerging Markets Strategy Report downgraded software firms on valuation and earnings concerns.
India is facing a challenging situation, where growth rate has slowed down significantly, yet inflation levels remain high. Early revision of policy rates would raise the risk of renewed currency depreciation pressures.
Morgan Stanley plans high-level management changes, which includes finance chief Colm Kelleher and veteran banker Paul Taubman taking charge of the company's institutional securities unit.
The benchmark National Stock Exchange Nifty has rallied 4 per cent, or 750 points, from this month's low to end at 19,732 on week ending November 17. Technical analysts say the market could consolidate around the current levels as it is nearing the resistance zone. "The near-term uptrend status of the market remains intact, but there is a possibility of some more consolidation or minor weakness for the Nifty in the next one to two sessions.
Morgan Stanley says the Indian market's performance would depend on policy action.
Attributing to Morgan Stanley CEO James Gorman, the report by the Financial Times said that the company plans to boost its under-performing securities business by hiring several hundred traders over the next few years.
Nikkei 225 index hit the 40,000 mark for the first time ever on Monday, continuing its bull-run that saw the index reclaim its 1989 peak of 34,000 levels in February. as global investors latched on to Japan's biggest companies on improving shareholder returns, the weaker yen and booming corporate profits. Analysts remain bullish on Japan, mostly aided by gains in technology shares. Adoption of artificial intelligence (AI), according to a note by Morgan Stanley, is likely to benefit Japanese companies, which is almost at par with the US-based companies.
The move indicates that Morgan Stanley would keep a watch on its risk-taking ability a year after the global financial meltdown.
As the lead underwriter responsible for Facebook's IPO, Morgan Stanley, would receive the largest chunk of those profits arising from stabilising Facebook's stock price, the report said citing a person familiar with the matter.
Ronald Perelman, on the advice of Morgan Stanley, said he sold his stake in Coleman Inc. to appliance firm Sunbeam, which later became engulfed in an accounting scandal, thereby driving down the value of his stock.
The actor bagged the Best Actor award at the Schlingel International Film Festival in Germany.
On the day of Facebook's market debut, trading glitches by the Nasdaq postponed the start of trading in the company by 30 minutes.
Its first and only investment in India out of its Asia-dedicated fund has gone bad.
Domestic and external environment still remain "challenging".
The cuts represent roughly 6% of its institutional securities unit - which includes sales, trading and investment banking, sources say.
Just ahead of its mega FPO opening to public investors, Vodafone Idea (VIL) has announced closure of its anchor book allocation, raising about Rs 5,400 crore from marquee global as well as domestic investors, according to a statutory filing by the telco. This could be the third-largest anchor book after One 97 Communications and Life Insurance Corporation (LIC). One 97 Communications and LIC had raised Rs 8,235 crore and Rs 5,627 crore in the anchor round, respectively.
Financial services company Morgan Stanley's Asia chief Stephen Roach is more bullish on Indian economy than China.
According to Morgan Stanley, high government deficit and strong growth in rural wages (which is growing at around 20 per cent year-on-year for last three years) are key factors keeping inflation expectations high.
Shares of One97 Communications (OCL), which provides financial services under the brand 'Paytm', and has a banking arm Paytm Payments Bank (PPBL), hit the 5 per cent upper circuit at Rs 428.10 on the National Stock Exchange (NSE) in Monday's (February 26) intraday trade. The up move in the stock on Monday came after the Reserve Bank of India (RBI) asked the National Payments Corporation of India (NPCI), in post stock market hours, to look into the possibility of migrating PPBL customers, using the UPI handle '@paytm', to four-to-five other banks.
In September, the headline inflation accelerated to a seven-month high of 6.46 per cent, while the retail inflation quickened to 9.84 per cent.
The deal underscores a growing trend of consolidation in Asia's wealth management industry.
The outcome of the general elections, the Morgan Stanley note says, has enough firepower to sway the markets on either side.
The US-based firm has marked down the value of Flipkart for the sixth time, the latest at a time when it has been struggling to raise funds at a valuation higher than or equal to $15.2 billion.
Domestic markets may see the return of retail investors finally as earnings from equities have turned positive in recent months, brokerage firm Morgan Stanley said.
Bank of America Merrill Lynch on Monday trimmed India's economic growth estimates by 30 basis points to 7.1 per cent for the current fiscal, while global financial services giant Morgan Stanley downgraded its GDP growth forecast for the current fiscal to 7.3 per cent from the earlier 7.7 per cent.
It has also reduced its year-end target for the BSE benchmark Sensex by 15 per cent to 18,850.
Global investment bank Morgan Stanley today named P Jayendra Nayak, the former chairman and chief executive officer of Axis Bank, as its new chief executive and country head for India. Nayak, who will replace Narayan Ramachandran, is slated to join on April 5.
The Sensex is down by nearly 22 per cent from an all-time high of 21,206.77 points scaled on January 10, 2008.
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