Fear factors weights on markets, Sensex, Nifty struggle to keep pace.
The announcement of the formation of the BRICS bank will have as much an impact about how the non-G7 countries manage their economies and their foreign reserves, as it does on the intellectual discourse. The development priorities and agenda which was hitherto set by western experts responding mostly to western priorities and notions will now have to compete with an intellectual tradition that is and can be very different, says Mohan Guruswamy.
The V-shaped rebound has been aided by a gush of liquidity flooding the global financial system, thanks to balance sheet expansion.
The Sensex has hit its lowest level since August 29, 2016 whereas the Nifty hit its lowest level since Sep 12, 2016
In UK, France and Germany, the president and CEO of Edelweiss Securities, anticipates votes incrementally in favour of local protection and de-globalisation.
If companies manage to raise Rs 10,000 crore, this will be the best year for IPOs since FY11.
After swinging 439 points during the day, the 30-share Sensex ended 141.33 points, or 0.38 per cent, lower at 37,531.98. It hit an intra-day low of 37,480.53 and a high of 37,919.47.
Banks bore the brunt of the sell-off.
Based on industry estimates, telecom companies, including Bharti Airtel, Reliance Jio, Vodafone Idea and BSNL, are expected to invest over $10 billion on buying 5G telecom equipment in the next five years as they transition from non-standalone networks to standalone 5G networks.
'2022 has not been -- and will not be -- the kind of 2021 bull market, which lifted all boats.'
Reserve Bank Governor Shaktikanta Das on Thursday said the central bank's asset purchases, aimed at mitigating COVID-19-related liquidity stress in the system, did not dilute its balance sheet or compromise on core principles of central banking. In the wake of the pandemic, the RBI undertook several conventional and unconventional measures. "Unlike many central banks, the RBI's asset purchases did not dilute its balance sheet and hence, did not compromise on core principles of central banking," Das said while addressing an event organised by the Bombay Chamber of Commerce. These purchases were confined to risk-free sovereign (government) bonds including state government securities only, he said.
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.
'If one believes that the Indian stock market will go up 70 per cent every year for the next 10 years, I wish you good luck!'
The bank is expected to report a pre-tax profit of $21 bn.
Kalrock Capital-Murari Lal Jalan combine has emerged as the frontrunner. A consortium of Imperial Capital and FSTC is the other bidder.
The employment situation remains dire. Whatever can be done to promote greater low-skill employment should be pursued aggressively, advises former chief economic adviser Shankar Acharya.
The Uttar Pradesh Defence corridor is estimated to attract Rs 20,000 crore investment and create 250,000 jobs.
The index had risen over 585 points in the previous three sessions.
Flight of high-paying banking jobs to other European cities will hurt the prospects of Indian real estate developers and desis in the hospitality business in the UK, says Kunal Bose.
Around 15 years ago, when Reliance Industries (RIL) struck natural gas in the Krishna-Godavari (KG) basin off the east coast, the government made plans to supply that fuel cheaply to scores of generators that sprang up in India triggered by the discovery. Most of the plants, which account for 6 per cent of India's total generation capacity, operate sparsely after the KG-D6 area first failed to meet production targets, and then finally shut shop. Affordable domestic gas was why those thermal plants came up and the rate of the fuel today is why those generators hardly operate. Record liquefied natural gas (LNG) rates may yet again unravel India's ambitions to expand use of gas in industries, households and vehicles. Rates, while volatile, may stay strong this decade as developed nations with higher purchasing power embrace gas as the transition fuel.
Indian equities are in a multi-year bull story with capex cycle recovery as the main driver.
On the 10th anniversary of the global financial crisis, a multi-part series analyses the lessons learnt and those not learnt.
Reliance Jio's decision to acquire 700 MHz in combination with the possible use of an advanced standalone (SA) 5G network could give it an edge over its rivals, according to most analysts. The dissenters argue that the stiff price tag touching Rs 40,000 crore to grab 10 MHz of spectrum in 700 to provide coverage for its SA 5G network which offers ultra-low latency (unlike non-standalone or NSA), has a long way to go in India in terms of finding use cases that can be monetised. Globally, 700 MHz is a pivotal band which provides huge coverage, indoor penetration (especially useful in India where walls are thick) and is already considered by the European Union to be the 'pioneer band' for 5G, with 3.5 GHz and 26 GHz, both of which were auctioned in India recently.
This is part of an 'aggressive and decisive set of action' to shore up the company.
Move 10 per cent of your portfolio to the yellow metal.
Investors engaged in profit booking in the recent gainers at attractive and higher valuations.
Nifty PSU Bank index gained 1% led by Allahabad Bank, Andhra Bank, Syndicate Bank and IDBI Bank
'You have to be a total anti-national bozo to shut down the Nokia plant in Sriperumbudur, which was the first large manufacturing plant for mobile phones in India.' 'Why was the unit shut down? Because of somebody's ego.'
The broader markets are trading inline with the larger peers with BSE Midcap and Smallcap indices up 1.5% each.
Some landowners had alleged that Adani was 'misleading' the public.
The British pound was down nearly 9 per cent in early morning trade.
Tehelka magazine said two years ago the German government had passed on the names and bank account details of 18 Indians who had invested their wealth in the LGT bank in Liechtenstein, a well-known tax haven.
Stocks of Indian companies with exposure to Europe fell on Tuesday amid concerns about the impact on their sales in case the Russia-Ukraine crisis worsens and the US and its allies impose economic sanctions on Russia. While top conglomerates, including Reliance Industries, the Tata group, and Aditya Birla Group, said they did not have any significant exposure to Russia, executives of some of the oil and gas, pharmaceutical, and tea companies said they were monitoring the situation closely as they earned substantial income from the region. Russian President Vladimir Putin on Monday ordered troops into two breakaway regions of eastern Ukraine after announcing that Russia would recognise their independence.
China has demonstrated that it has the power to not be isolated, and it is likely to become more powerful over time.
What is killing the risk appetite of the bond buyers is the inconsistency in the central bank's approach. It needs to allow the yield to find its own level, gradually. To ensure that, the RBI may adopt a similar approach with which it handles a slipping rupee, asserts Tamal Bandyopadhyay.
Fourteen per cent of the $16 billion invested by Ratan Tata in M&As abroad has been written off by his successor.
Both benchmark indices were driven by strong gains in IT, teck, oil and gas, pharma and banking shares amid earnings optimism.
India has emerged as one of the most favourable destinations of European and American investors among the Asian nations.
The NSE Nifty also gained 53 points, or 0.49 per cent, to settle 10,855.15 after shuttling between 10,870.40 and 10,749.40.
'We don't need to hinge India-UK relations on shared hostility toward China,' observes Ambassador M K Bhadrakumar.
