With India's stock markets being one of the best performing among the emerging markets, a number of global pension funds are planning to make India-specific allocations.
Stephen S Roach, chief economist at the US-based Morgan Stanley, returning from his fourth trip to India in three years, said the South Asian country has achieved breakthroughs in savings and foreign direct investments.
Bhartiya Janata Party patriarch Lal Krishna Advani has picked up for his blog this week a new book by the US-based Morgan Stanley executive Ruchir Sharma that identifies "graft driven inflation" and "crony capitalism" among the weaknesses and difficulties that can be a damper for India's high expectations.
Reliance Industries' eastern offshore KG-D6 gas fields at peak production will help the nation save $8.3 billion annually or 0.7 per cent of the GDP, investment banker Morgan Stanley said on Friday.
Deloitte India on Friday said it estimates India's GDP growth at 6.6 per cent in the current fiscal helped by consumption expenditure, exports rebound and capital flows. In its India's economic outlook report, Deloitte said the rapid growth of the middle-income class has led to rising purchasing power and even created demand for premium luxury products and services. With the expectation that the number of middle-to-high-income segments will be one in two households by 2030/31, up from one in four currently, we believe this trend will likely become further amplified, driving overall private consumer expenditure growth, it said.
China spends seven times more on infrastructure than India.
China spends seven times more on infrastructure than India.
Nineteen per cent of global fund managers remain bullish on India, suggests the latest BofA Asia Fund Manager Survey (FMS). A total of 249 panelists with $656 billion worth of assets under management (AUM) participated in the survey between February 2 and 8, BofA said. Two hundred and nine participants with $568 billion AUM responded to the global FMS questions, while 145 participants with $331 billion in AUM responded to the regional fund manager survey (FMS) questions, BofA said.
Chief executive officers (CEOs) across sectors have expressed intentions to expand capacities, expecting the government's target to invest a record Rs 11.11 trillion on infrastructure development will act as a catalyst for a jump in consumer demand. "With the government planning a capex of Rs 11.11 trillion, private sector investment will come in a big way. Companies will be preparing for it right from today," H M Bangur, chairman of Shree Cement, told Business Standard. For the past few years, the investment scene in India has been dominated by government capital expenditures; private investments in the manufacturing sector have remained muted.
If the latest strategy reports of some leading foreign institutional investors (FIIs) are anything to go by, then the outlook for the Indian equity market appears bleak. This is, despite section of experts pitching for the current attractive valuations.
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.
Morgan Stanley Real Estate on Wednesday announced that it has invested Rs 300 crore (around $68 million in Mantri Developers Private Ltd, a private Bangalore-based real estate developer.
Foreign money has been pouring into India's fast-growing e-commerce sector, with investors ranging from Japan's Softbank Corp to Singapore's Temasek Holdings.
Iqbal Singh has been appointed as the new CEO and President of GE Money India. The company is also planning to induct a strategic partner in a few months.
For every 2.5 degree celsius rise in global temperature, the damage to India is predicted to be 4.9 per cent of the gross domestic product, highest for any country, according to a key finding of a research by global financial services firm Morgan Stanley.
Malcolm Wood, Asia Pacific Equity Strategist at Morgan Stanley is not too positive on the financial sector in India.
India's flag carrier Air-India has shortlisted three companies to act as advisors for its initial public offer to finance the fleet acquisition and is awaiting the government's nod for the IPO, a spokesman of the airline said on Thursday.
As the 2019 election draws near, investors focus on long-dated options.
The list of contenders for this job include Vikram S Pandit, currently Citigroup's investment banking head and a former Morgan Stanley investment banker, and Shaukat Aziz, formerly the bank's global private banking business head and most recently the prime minister of Pakistan, according to various media reports.
Mutual funds (MFs) are investing in more stocks despite the recent volatility. The industry invested in 824 companies across the listed universe as of October, according to primemfdatabase.com. The S&P BSE Sensex hit its all-time high of 62,245 that month. The index has since corrected to 57,864, around 7 per cent below the peak.
India is set to witness a 'significant' growth in its market capitalisation during the next five years because of combination of a host of factors
Goldman Sachs, Morgan Stanley and JPMorgan, the three bulge-bracket banking groups of the US, are likely to get active in Indian real estate after a long gap, according to executives with property funds and consultancies.
This is despite the fact that total FDI into India has fallen by 22 per cent from $58 billion in FY22 to $46 billion in FY23, according to the Reserve Bank of India.
'India has got a large collection of world-class companies, extraordinary entrepreneurs, well-developed markets and an educated workforce that will act in its favour. What's been missing between this micro and macro is political impetus to reforms. The recent election changes the prospects for reforms,' says Stephen S Roach, chairman, Morgan Stanley Asia.
Morgan Stanley Capital International has added Maruti Udyog to its India index with effect from August 29.
Take the Rediff Biz Quiz and find out how much you know about various Indian mutual funds.
Wall Street research analysts have suffered rounds of layoffs, big pay cuts, and accusations that they routinely lied to the investing public. Now there's a new worry -- that their jobs are being shipped overseas.
India's most valued company, Reliance Industries Ltd (RIL), reported a robust performance in the third quarter of the current financial year (Q3FY25), surpassing analyst expectations. This coupled with positive commentary by brokerages led to the stock of the oil-to-telecom conglomerate surging as much as 4.44 per cent to hit an intraday high of Rs 1,325.1. It settled at Rs 1,301.3 apiece, up 2.57 per cent.
Stephen S Roach, chairman of Morgan Stanley Asia, warned that Asia and India will be hit hard due to a likely recession in the US in 2008, saying "if US sneezes, Asia will catch a cold." Predicting a significant correction in emerging market equities, which would also not spare the fast rising Indian stock markets, Roach, who is regarded as one of the Wall Street's most influential economists, said he did not believe in the global de-coupling theories.
'I think we will win the game if our GDP grows at 7.5 to 8 per cent,'\nsays stockmarket legend Nimesh Kampani.
Sensex has lost almost 1,500 points since December 31, 2014.
Portfolio returns, say analysts at Morgan Stanley, are more likely to be driven by bottom-up stock-picking rather than top-down macro forces.
India urgently faces a shortage of around 200,000 IT and ITeS professionals. The shortage is bound to grow to 3.6 million in the next eight years.
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