An aggressive rate hike by the US Fed and the possibility of a recession can trigger a slide in these stocks, which will be a good opportunity to buy from a long-term perspective.
Reliance Industries Ltd, the nation's most valuable company, on Thursday said it has raised $4 billion (around Rs 30,000 crore) in debt through the largest ever foreign currency bond issuance by an Indian entity. The oil-to-telecom conglomerate plans to use the proceeds of the three tranche issues to retire existing borrowings. The issue was "nearly 3 times oversubscribed with a peak order book aggregating around $11.5 billion," the company said in a statement. This is the largest ever foreign currency bond transaction in India, eclipsing ONGC Videsh Ltd's $2.2 billion US dollar bonds issue of 2014.
The BWF also shared its Standard Operation Procedure with member associations, saying any breach "can result in accreditation being revoked and participants not permitted to enter the venue."
People are interested in the strength of India's economy, the country's stability, and the opportunities, says Stuart Tait, regional head of commercial banking, Asia-Pacific at HSBC.
According to the annual HSBC 'Value of Education Learning for Life' report, India has the world's highest proportion of parents (88 per cent) who are willing to send their children abroad for higher studies, ahead of Turkey (83 per cent), Malaysia and China (82 per cent each).
India is likely to see over 100 mature, large-scale profitable or on the path to profitability startups in the next five years, of which 80 have the potential to go for public listing, market research and consultancy firm Redseer said on Tuesday. Redseer Strategy Consultants, in a report on IPOs, said 20 of the mature startups have gone public so far. "India may see over 100 matured, large-scale profitable/path-to-profitability start-ups in the next five years.
Although growth picked up slightly across the world's main emerging markets on an average, rates of expansion remain subdued
Stocks of gold jewellery retailers have been able to retain their sheen in 2023 despite volatile gold prices. Kalyan Jewellers, Titan, PC Jewellers, Thangamayil Jewellery, and Tribhovandas Bhimji Zaveri (TBZ) have rallied 21-72 per cent so far since April as compared to a 13 per cent gain in the benchmark Sensex index. The rally gained steam on the back of gold's 6 per cen
India's first digital rupee pilot project will commence on Tuesday with nine banks, including SBI, HDFC Bank and ICICI Bank, issuing the virtual currency for transactions in government securities. "...the first pilot in the digital rupee - Wholesale segment shall commence on November 1, 2022," the RBI said in a statement on 'Operationalisation of Central Bank Digital Currency-Wholesale (e?-W) Pilot'. It also announced that the first pilot in digital rupee - Retail segment is planned for launch within a month in select locations in closed user groups comprising customers and merchants.
India's working population relies heavily on cash deposits and a second home to generate post -retirement income, according to an HSBC report.
India's manufacturing expanded at a faster pace than China
Small queues were witnessed at some bank branches on Tuesday for the exchange of Rs 2,000 notes against smaller denominations as part of the withdrawal exercise. As per the RBI guidelines issued on Friday, the exchange of Rs 2,000 facility is available from Tuesday. A person can exchange up to a limit of Rs 20,000 at a time without filling any form or requisition slip.
The star Indian pair of Chirag Shetty and Satwiksairaj Rankireddy will be the key attraction in the men's doubles category. However, they are set to face a stiff competition as the line-up includes the three-time world champion and world No. 2 Indonesian duo of Mohammad Ahsan and Hendra Setiawan alongside another Indonesian pair of Fajar Alfian and Muhammad Rian Ardianto, who are currently ranked eighth in the world.
Foreign banks set the template in consumer banking in its infancy, but have almost vacated this booming space.
The foreign lender's profit after tax was Rs 2,960 crore
Indian start-ups breathed a sigh of relief after the UK government facilitated the acquisition of the now-defunct Silicon Valley Bank's (SVB's) British arm by HSBC. In a bid to allay fears, the US Federal Deposit Insurance Corporation (FIDC) announced recently that it had transferred all deposits of start-up-focused SVB to a newly created bridge bank and all depositors would have access to their money. President Joe Biden also sought to reassure jittery depositors that they can have confidence that the US banking system is "safe".
As yields rise, bond prices fall. Higher yields not only translate into losses for investors, it also pushes up borrowing cost for companies as well as government
Notwithstanding expectations of a pick-up in construction activity during a seasonally strong January-March quarter (fourth quarter) of 2022-23 (FY23), analysts are cautiously optimistic about the building material sector - encompassing paints, pipes, wood panels, tiles, metals, and cement - as volatile input costs, coupled with fears of a global slowdown, are making demand projections uncertain. Against this backdrop, analysts suggest investors stay selective and pick stocks of companies with stronger brand recall, expanding distribution network, diversified product profile, healthier balance sheet, and sustainable cash flow. "The government's various proposals under Budget 2023-24 (FY24) may lead to the building material segment growing between 8 per cent and 12 per cent for the next five years.
The pace of economic growth in emerging markets continued to revive from the stagnation seen earlier in the year.
HDFC Bank Q4 review: HDFC Bank's January-March quarter (Q4) results, for financial year 2022-23 (FY23), brought no cheer to investors as elevated costs, and merger-related uncertainties continue to dent the sentiment. Moreover, analysts fear that merger-related costs may put pressure on margins and cost to income ratio in the near-term, while the return on equity could moderate owing to low leverage of the parent. Analysts, therefore, opine that the stock's re-rating may be some time away. "While the risk of a de-rating on a standalone basis appears to be quite low given that the business performance is holding up well, we believe a re-rating in the stock would happen as and when more clarity emerges on the smooth transition (merger)," said a report by Sharekhan.
Shapoorji Pallonji Group's head Pallonji Mistry died at his residence here, company officials said on Tuesday. Mistry, the largest individual shareholder in the Tata Group with a 18.4 per cent holding in the conglomerate, was 93.
India's manufacturing sector activity remained broadly flat in June as new orders declined for the first time in over four years and power cuts and fragile economic conditions weighed on the sector's performance, an HSBC survey said.
According to HSBC, the volatility in Indian markets since May can be attributed to the initial talk about tapering of bond purchase by the US Federal Reserve but the catalyst for recent volatility in Indian equities was when policymakers decided to tighten liquidity to stem capital outflows.
Of the BRIC (Brazil, Russia, India and China) economies, China, Russia and Brazil posted sharper increases in activity, but India registered a fourth successive decline in output.
Factory growth picked up in May.
During May, the HSBC composite index for India, which maps both manufacturing and services sectors, stood at 52, whereas for China it was 50.9, Brazil (51.2) and Russia (51). An index measure of above 50 indicates expansion.
India's services sector activity expanded in May and the pace was the fastest in three months, driven by uptick in new orders, an HSBC survey said on Wednesday.
The difference between what the banks play in the US and India is not that of soccer and football but rugby and football. SVB also has a unique character. But when risks are mispriced, the fallout could be very similar, points out Tamal Bandyopadhyay.
The Indian regulatory framework forced Citi to hibernate -- contrary to the claim that it never sleeps!
According to HSBC's 'Climate Confidence Monitor', one in three people in Vietnam, India and China believe that climate change can be halted, compared to just one in twenty in developed economies such as France and the UK.
Indian frontline benchmarks - the S&P BSE Sensex and the Nifty50 - have rallied around 12 per cent each since June-end and outperformed their global peers by a wide margin. On Thursday, the US Fed hiked interest rates by another 75 basis points (bps) - the third such hike this year - and surprised the markets by projecting further sizable hikes in the coming months. With the latest hike, the Fed fund rate (FFR) now stands in the range of 3 - 3.25 per cent and is highest since January 2008.
Distribution yields could rise, but risk of Covid, higher interest rates remain.
Why does the world's fastest-growing major consumer of energy fail to attract investments in oil and gas? This is a question worth pondering after private sector conglomerate Reliance Industries Ltd (RIL) failed to close a $15-billion downstream asset deal with Saudi Arabia's national oil company, Aramco. It's understandable if multi-billion dollar investments in oil and gas projects or deals involving state companies that need to traverse a complex bureaucracy at state and federal levels and the corridors of ministries unravel. However, Mukesh Ambani-run RIL, India's most successful energy company, is not typically known to fumble on closing deals (Ambani closed deals worth around Rs 2 trillion early last year in telecom and retail with blue chip investors).
Many requests are pending with the Swiss authorities.
Bank of America Merrill Lynch believes this would ease pressures on CAD as $10 a bbl fall in oil price reduces CAD by $8 billion or 0.4 per cent of GDP.
'To achieve a corpus of Rs 10 crores in the coming years, I would suggest you increase your SIP, advises Nikunj Saraf, vice president, Choice Wealth.
August witnessed the fastest pace of growth in new business orders since February.
The index went below the crucial 50 mark.
Using ATMs beyond the permissible free transactions for cash as well as non-cash purposes will cost more from Saturday. As per the Reserve Bank directive issued in June, the banking customers would be required to pay Rs 21 per transaction with effect from January 1, 2022 for transactions beyond the free permissible limit. Presently, banks are allowed to charge Rs 20 for such transactions through ATMs.
So which sectors are likely to do well in 2022? Should you focus on domestic economy-related sectors or export-oriented ones?
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