Fitch Ratings has warned that India's oil marketing companies (OMCs) could face significant credit pressure if crude oil prices remain elevated, leading to eroded earnings and increased working capital needs due to delayed fuel price pass-through.
A new report suggests China's maritime vulnerability lies in the Strait of Hormuz, not Malacca, creating strategic competition in the Indian Ocean.
'Markets never fully lose hope. But an important shift could come if the Strait remains closed -- moving from high prices to no prices.'
Wipro, India's fourth-largest IT services company, has secured an eight-year deal with Singapore-based Olam group, valued at over $1 billion, and will also acquire Olam's IT and digital services arm, Mindsprint, for $375 million, marking one of its largest contracts to date.
The US blockade on Iranian ports is aimed to curb Iranian energy exports, thereby crippling its economy to force Iran back to the negotiating table, points out Commodore Venugopal Menon (retd).
The 40 per cent trans-shipment tariff by the US will create major compliance issues for companies in India and the ASEAN region, with high risks for sectors like machinery, electrical equipment and semiconductors, Moody's Ratings said on Tuesday. In July 31, US President Donald Trump announced a 40 per cent tariff on goods deemed to have been transshipped, beyond the broader country-level tariffs.
'The biggest point of contention is market access for US agricultural and dairy products.'
The 15th India-Vietnam Defence Dialogue signalled a move from routine talks to deeper cooperation, with new deals on submarine rescue and defence industry to support stability in the Indo-Pacific, notes Dr Rajaram Panda.
OpenAI will provide 500,000 free ChatGPT licences for six months to students and teachers across government schools from classes 1 to 12, engineering and technical institutes, as well as K-12 educators.
Earlier this year, when global software giant Salesforce set out to appoint a new chief financial officer (CFO), the role came with an addition. Instead of hiring solely a CFO, the company wanted someone who would also play an integral role in operations.
Google says its AI models are being used across sectors in India, from improving maternal health programmes and streamlining patient-care to supporting agri-tech solutions and advancing the country's sovereign AI efforts.
S&P Global Ratings on Thursday said the Indian economy is projected to grow at 11 per cent in the current fiscal, but flagged the "substantial" impact of broader lockdowns on the economy. In its report on Asia-Pacific Financial Institutions, S&P said the control of COVID-19 remains a key risk for the economy. New infections have spiked in recent weeks and the country is in the middle of a second pandemic wave.
'IT companies do not have a large presence there either in terms of market and team. So, the impact of the war will be minimal. But West Asia is an emerging economy.'
"A significant decline in the growth number for this quarter is highly likely, but for the fiscal year as a whole the decline may still be relatively moderate," Fitch Asia-Pacific Sovereigns Group Director Thomas Rookmaaker said.
Given that India will get a huge part of its oil supplies from Iran through its government-owned oil PSUs, any unwelcome shocks in global crude rates could be absorbed well enough.
Google is committed to complying with local laws and engages constructively with governments as they scrutinise and adopt regulatory frameworks to keep pace with the fast evolving technology landscape, its CEO Sundar Pichai said on Thursday.
Tata Motors (down 1.7%) was the top loser on Sensex and Nifty, while Lupin (1.6%) gained the most.
'Both Russia and the USA seek New Delhi's friendship, because for both -- Russia and the USA -- India is a certain counterbalance to China.'
Pharma was the top losing index amid worries about their earnings outlook with Lupin down over 4%
NTPC, Sun Pharma Coal India and Asian Paints were among top losers on BSE Sensex
S&P BSE Sensex settled at 31,170, up 60 points, while the broader Nifty50 closed at record high for third straight session. It ended at 9,624, up 19 points.
The broader NSE index has fallen about 0.9% as investors wait for corporate results
For India, Fitch Ratings has 'BBB-' rating.
There were more than three losers against every gainer on BSE
Adani Ports, HUL and L&T gained the most, while ICICI Bank, ONGC, GAIL and Tata Steel lost the most
Broader markets outperformed with BSE Midcap and BSE Smallcap adding 0.23% and 0.45%, respectively
The market breadth, indicating the overall health of the market turned negative from positive
The S&P BSE Midcap and the S&P BSE Smallcap indices gained 0.3% and 0.5%, respectively
Extending losses for 7th session, Nifty fell below the 8,000 mark for the first time since Nov 25
BSE Auto was the top sectoral loser with a 4.6% fall followed by realty sector down 3.7% and consumer durables 3.6% post disappointing IIP numbers
The S&P BSE Midcap and S&P BSE Smallcap indices hit a new lifetime high
The beauty of the relationship between the two countries is that they agree to disagree and perhaps that is the strongest bond between the two governments and their relationships, notes Rup Narayan Das.
The S&P BSE Sensex shed 119 points to close at 27,977 and the Nifty50 dropped 45 points to finish at 8,591.
Hopes of revival and earnings growth in 2020, surprise tax cuts, and robust foreign flows - thanks to easy global monetary policies - are a few reasons why the markets have managed to digest the low GDP footprint. Select bluechips such as Reliance Industries, Bajaj Finance, Asian Paints, and ICICI Bank have gained sharply this year. On the other hand, YES Bank, Zee Entertainment, and Indiabulls Housing have seen a sharp fall.
The positive bias was aided by metal, realty and auto indices
Markets ended weak tracking the expiry of April derivative contracts.
The firm has set its eyes on emerging categories such as juices and plans to develop a stronger total portfolio, participating across multiple categories.
'For those looking at forward-looking signals for the economy from the stock markets, the relative performance of small and mid-caps may be a better indicator of the future than the index levels of the narrower and more popular indices', says Neelkanth Mishra.
Sources indicated defence and national security initiatives.
Sensex catapults 1,241 points and Nifty vaults 382 points in two sessions in a row.
