Reliance Industries Ltd, India's most valuable company, is back on a growth path after six months of challenges as it posted better than expected earnings in the December quarter, brokerages said.
Some of the world's biggest banks including HSBC, JPMorgan Chase and Standard Chartered moved trillions of dollars identified as being potentially tied to money laundering or other crimes despite raising concerns about those transactions in filings with US regulators, reports South China Morning Post.
With India's EV penetration at just 2.5 per cent, the market presents an opportunity -- provided Tesla gets its pricing right.
India's manufacturing sector growth fell to a joint 11-month low of 56.5 in November, restricted by competitive conditions and inflationary pressures amid a softer increase in factory orders, a monthly survey said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 57.5 in October to 56.5 in November, signalling a softer improvement in the health of the sector. However, the pace of growth remained above its long-run average.
From 30 Sensex shares, Bajaj Finserv jumped nearly 8 per cent while Bajaj Finance soared over 6 per cent. Maruti, Titan, Mahindra, Mahindra & Mahindra, Infosys, HCL Tech, Zomato, UltraTech Cement and Kotak Mahindra Bank were the other major gainers. Sun Pharma emerged as the only laggard.
India remains one of the most over-owned market in Asia.
India's manufacturing sector output increased at a sharp pace in June as new business continued to flow in amid favourable demand conditions and resulted in record upturn in employment, a monthly survey said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) increased from 57.5 in May to 58.3 in June, indicating a sharper improvement in business conditions. In PMI parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
More than 30 technology startups, collectively valued at $100 billion, are poised to go public by 2027, signalling a potential rebound in India's stock market activity, according to a report by investment bank The Rainmaker Group. Walmart-owned Flipkart, financial technology (fintech) leader PhonePe, SoftBank-backed Lenskart, Razorpay, Zetwerk, and Meesho are among the top companies preparing to go public in India.
Investors have been hoping for a cyclical recovery.
Equity markets this week will take cues from global trends, trading activity of foreign investors and quarterly earnings, with TCS kick-starting the results calendar on Thursday, analysts said.
India's manufacturing sector growth moderated in August as output and sales rose at slowest rates since January, while competitive pressures and inflation concerns hampered business confidence, a monthly survey said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) stood at 57.5 in August, below July's reading of 58.1 but above its long-run average of 54.0, signalling a substantial improvement in operating conditions.
Probe found that HSBC's Anti-Money Laundering Compliance Department was highly inadequately staffed.
'We expect the bull-market phase to still persist, but now led by large-caps which offer better valuation and benefit from FII inflows.'
'We expect continued pressure on midcaps, but any sharp correction looks unlikely from here on.'
In a controversial move, global private banking major HSBC has closed a number of "risky" accounts belonging to Muslim groups and individuals in the United Kingdom.
The Reserve Bank on Thursdaysaid it is keeping a close watch on global banking major HSBC.
The US Trade Representative noted that India's average applied tariff rate stood at 17% per cent, the highest of any major world economy.
Rural inflation running higher than urban: HSBC
From the Sensex pack, Reliance Industries, Bajaj Finserv, HDFC Bank, Adani Ports, Maruti Suzuki India, Axis Bank, Hindustan Unilever, Sun Pharmaceuticals and Asian Paints were among the laggards. Reliance Industries fell the most by 2.38 per cent to close at Rs 1,171.10 apiece.
India's manufacturing sector growth eased slightly in July, on softer increases in new orders and output, while cost pressures and demand strength led to the steepest increase in selling prices since October 2013, a monthly survey said on Thursday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) moderated slightly from 58.3 in June to 58.1 in July.
The SIT will ask the RBI for transaction details over 15 years
India's services sector growth recorded another month of robust expansion in July, albeit at a slightly slower pace than in June, largely supported by robust demand conditions and investment in technology, a monthly survey said on Monday. The seasonally adjusted HSBC India Services Business Activity Index was at 60.3 in July, down only fractionally from 60.5 in June. In the Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
The chief operating officer of HSBC Holdings, A W Jebson informed that HSBC board would meet in Mumbai on November 25.
Herve Falciani, who refused to appear for trial in Switzerland, has been charged of industrial espionage.
Real estate developers are hoping that the slew of tax concessions announced in Union Budget 2025, set to take effect this financial year, will spur demand for affordable and mid-segment housing, even as the broader housing market shows signs of fatigue.
The bank said it is cooperating with the US Department of Justice and the Internal Revenue System (IRS) in their probes into whether certain HSBC companies and employees acted appropriately in relation to certain customers with US tax reporting requirements.
The leaked files relate to accounts holding more than $100 billion, as per ICIJ.
According to the global financial services major, FII flows in May were mixed, with investors being more selective.
The bank is looking to combat financial times.
HSBC's downward revision is in line with similar kind of revisions by a host of other think-tanks, research houses, investment banks and other agencies like the UN, Morgan Stanley, Goldman Sachs, Merrill Lynch, Stanchart and Citi.
As the reform process is expected to gain further momentum, the Indian rupee will continue to outperform its Asian peers, which are likely to weaken further against the US dollar in 2015, says an HSBC report.
From the 30 Sensex firms, IndusInd Bank, Asian Paints, Hindustan Unilever, Tata Motors, Tata Steel, Titan, Reliance Industries and NTPC were among the major laggards. Tech Mahindra, Mahindra & Mahindra, Kotak Mahindra Bank, Infosys, HCL Technologies and State Bank of India were among the major gainers.
China posted the sharpest increase in output for 15 months, while India saw the steepest expansion since February 2013.
Facing black money investigations in India and several other countries, global banking giant HSBC on Monday said it is also being probed in the US for hiring candidates related to government officials in Asia Pacific.
The government expects the economy to grow by 7-7.75 per cent in the current fiscal.
India's services sector growth quickened in June from May's five-month low, amid a stronger rise in new orders and an unprecedented expansion in international sales, a monthly survey said on Wednesday. The seasonally adjusted HSBC India Services Business Activity Index rose from 60.2 in May to 60.5 in June, pointing to a sharp expansion in output. In the Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
RBI interest rate decision, macroeconomic data and global trends would guide markets' movement this week, analysts said. Besides, trading activity of foreign investors and the last batch of Q1 earnings announcements would also guide trends in equities. HSBC PMI (Purchasing Managers' Index) for the services sector is scheduled to be announced on Monday.
The entire HSBC list features names of 1,668 Indians
HSBC Banking group will expand its capital market, corporate and investment banking team in India and establish analytical support facility to exploit growing business opportunities and provide services to the group's overseas requirements.
'Within India, people want high-quality, personalised banking services, and the demand for such services has exploded.'
For Indian parents, sending a child abroad for a three-year degree could deplete 48% of their retirement savings, while a four-year degree may consume up to 64%.
