Reason for rejection hasn't been stated; deal among seven rejected transactions.
French banking major BNP Paribas is planning to sell its domestic retail broking unit, Sharekhan, according to news reports on Tuesday. The reports even named leading financial institutions as possible suitors. "We would not be able to comment on the mentioned queries at this time," said a company spokesperson in response to a query from Business Standard seeking clarification on the news item.
BNP Paribas Securities sees the benchmark Sensex touching 22,000 mark in 2014, even as it cautioned over the earnings estimates in medium term.
The last time these two indexes recorded a negative performance on a calendar year basis was in CY19.
With several $500 million-plus deals in the pipeline -- including ICICI Prudential AMC, Lenskart, PhonePe, Groww, PhysicsWallah, Meesho, Pine Labs, and Zepto -- investment bankers look poised for another year of hefty bonuses in 2025.
India is among the three least-favoured Asian stock markets, according to BofA Securities whose survey found that 10 per cent of fund managers are underweight on Indian equities from a 12-month perspective.
India may see its busiest EV festive season in 2025 with SUVs, luxury cars and scooters set to launch, but rare-earth supply bottlenecks risk delaying rollouts.
A robust show during the March quarter of 2024-25 (Q4FY25) and hopes of a strong demand momentum have led to an upward revision of Mahindra & Mahindra's (M&M's) earnings. With a slew of launches lined up amid a steady demand environment, brokerages see M&M outperforming peers in passenger vehicles (PVs), tractors and commercial vehicles (CVs).
French investment bank BNP Paribas said India's earnings growth potential is around 14-15 per cent
Conservative investors seeking equity-like tax benefits with low risk may go for them.
Cortal Consors, an arm of BNP Paribas, is planning to foray into the wealth management services market in India, targeting the high-networth investors, whose incomes range from Rs 10 lakh to Rs 1 crore (Rs 10 million).
After a strong show during the September quarter (Q2FY25) and favourable demand conditions, going ahead, the country's largest player in the room air conditioner segment, Voltas is well placed to improve its market share. Expectations of record volumes in FY25 for the sector and the company's strategy of prioritising market share over margins could help the leader expand share in the room AC segment.
Strong margins in the jewellery segment in Q4FY25, steady growth guidance for FY26 and expectations of outperformance in the organised jewellery sector boosted sentiment for the largest listed jewellery maker by market capitalisation, Titan Company. The stock was the highest gainer on the benchmark indices (Sensex as well as Nifty), rising 4.1-4.5 per cent at close on Friday, taking the total gains over the past month to about 12 per cent.
The Indian rupee has fallen by almost 11 per cent since August 1, thanks to rising risk aversion.
The Nifty ended at 5,318, up 22 points.
Analysts are expecting pharmaceutical companies to post sales growth of 10-11 per cent in the second quarter this financial year while the Ebitda (earnings before interest, tax, depreciation, and amortisation) margins are anticipated to improve by about 110 basis points. Ebitda improvement will be led by lower input costs because prices of active pharmaceutical ingredients (APIs) are 5-15 per cent lower year-on-year (Y-o-Y). Axis Capital said sales growth would be around 10 per cent, of which growth in the India market would be 11 per cent or so.
The stocks of diagnostic service providers have been standout performers within the healthcare sector over the past year, posting returns between 16 and 80 per cent. In comparison, the Nifty 50 saw returns of 8 per cent. Stable pricing, expectations of gradual volume growth, and market share expansion for the larger players have stoked increased optimism for listed companies.
'For those seeking regular income, these funds provide a steady stream of income through dividends.'
'Those trying to use these funds for quick gains should avoid them due to risk of being late to the party.'
Clearly, some of the bullishness of the early days has gone missing. Ola's market share is slipping amid rising competition from incumbents like Bajaj Auto and TVS.
Indian drugmakers supply 47 per cent of the generic medicine requirements in the US, and tariffs would have increased prices in the US domestic market for patients, who are already dealing with drug shortages.
Novak Djokovic was shocked by Botic van de Zandschulp 6-2, 3-6, 6-1 in the second round of Indian Wells on Saturday as the Serbian suffered an early exit at the hands of a tournament lucky loser for a second consecutive year.
A retirement fund can be helpful for all age groups, but ideally one should start investing early to beat market swings and gain from compounding.
With India's EV penetration at just 2.5 per cent, the market presents an opportunity -- provided Tesla gets its pricing right.
Carlos Alcaraz kept his Indian Wells 'three-peat' campaign on track with a straight sets win against Canadian Denis Shapovalov in the third round.
SBI is expected to mop up almost $202 million via the share sale.
Domestic mutual funds (MFs) have kept their faith in the Indian stock market despite multiple headwinds all through 2022-23 (FY23), with their net flows into equities crossing the Rs 1.5-trillion mark for the second consecutive financial year. MFs pumped a net Rs 1.53 trillion into equities till March 1, 2023, the Securities and Exchange Board of India (Sebi) data shows, as compared to Rs 1.72 trillion in FY22. Since FY15, MFs have been net buyers of equities, except in FY21, when they sold a net Rs 1.21 trillion.
'.. if you do not want to take the asset allocation call.'' 'This category of funds can offer optimum risk-adjusted returns.'
Given the strong growth in Asia and easy monetary stance taken by central banks other than the US Federal Reserve (US Fed), overseas investors will soon start re-investing in risky assets, says Abhiram Eleswarapu, head of equity research, BNP Paribas Securities India.
Adani Green Energy (AGEL) on Tuesday announced it has secured a funding of $1.36 billion from a consortium of international banks as part of its construction financing framework. The $1.36-billion senior debt facility will enhance the company's funding pool to $3 billion since initial project financing in March 2021, AGEL said in a statement. According to the statement, AGEL, India's largest and world's leading renewable energy player, announced a follow-on funding of $1.36 billion to further boost its construction financing framework to $3 billion backed by a consortium of renowned international banks.
India's top technology companies will witness a tepid revenue expansion in the third quarter (October - December) of the current financial year (Q3FY24) - along expected lines - on the back of furloughs and no blockbuster deals, even as the momentum gained from Generative AI (GenAI) is likely to take centre stage. IT services and consulting firm Accenture's first quarter numbers in FY24 showed a significant pick up in GenAI spending. It signed new bookings to the tune of $450 million in this space, a surge from the $300 million signed in the whole of FY23.
Profits of domestic brokerages fell substantially in the quarter ended March 31, thanks to subdued participation of retail investors and continued increase in the share of the low-margin options segment in the overall market volume.
With the last quarter of 2023-24 (FY24) expected to have been soft owing to lower discretionary spend and macro uncertainty, many are hoping FY25 will be a year of recovery for the information-technology (IT) industry. The fourth quarter, January-March, is considered soft, and will continue to see the headwinds the sector has been facing. And the sector has entered the new financial year on a weak footing. Analysts are expecting Tier-I firms to report sequential growth of -1 per cent to 1.5 per cent and midcap players' growth may range between 0.7 per cent and 4 per cent.
'The biggest near-term risk to Indian equities is the outflow of investments to China as tactical trades by foreign investors.'
IT services major LTIMindtree reported a net profit of Rs 1,100 crore for the fourth quarter of financial year 2023-24 (FY24), down 1.2 per cent year-on-year (Y-o-Y) from Rs 1,141 crore in the same quarter last financial year. Revenue grew 2.3 per cent Y-o-Y for the fourth quarter to Rs 8,892.9 crore. Sequentially, revenue was down 1.4 per cent.
While the minimum holding period for LTCG taxation has now been lowered, the tax outgo could be a bit higher under the new structure.
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Etrade, BNP Paribas, Bank of Muscat are all picking up stakes in many of the Indian brokerage firms. So what is so attractive about them?
The top 100 companies have accounted for 63% of the gains (Rs 51 trillion out of Rs 81 trillion), while firms beyond the top 100 have contributed 37 per cent (Rs 30 trillion).
A misfiring Rafael Nadal had trouble hitting the mark but the third seeded Spaniard still had enough to beat American Donald Young 6-4, 6-2 on Tuesday and advance to the fourth round of the BNP Paribas Open.
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