With India's inclusion in global bond indices starting next financial year, the central government believes there will be greater scope for shifting to borrowings via long-term government securities (G-sec) from short-term instruments. This change may be factored into the FY25 interim Budget. "While this has been our focus, the inclusion of India in global bond indices gives us the opportunity to accelerate the shift towards longer tenure G-secs," an official said, requesting anonymity.
England stand-in skipper Eoin Morgan is backing Kevin Pietersen to help turn around his side's fortunes in the second Twenty20 international against New Zealand.
JP Morgan Chase & Co plans to set up an offshore research department in Mumbai, in Wall Street's newest effort to lower costs in the face of weak equities business and a stricter regulatory environment.
The troubled financial services major Citigroup's deal to sell its brokerage unit to Morgan Stanley is expected to bring about $4 billion tax revenue to the US government.
India Inc's net profit as a percentage of the country's gross domestic product (GDP) is just shy of reaching 5 per cent, bolstered by strong earnings growth in the second quarter of 2023-24. Analysts interpret this as an indication that a corporate profit upcycle is in progress, with projections suggesting that this share could exceed 8 per cent within the next five years, driven by bullish earnings growth expectations. "We believe we are only halfway through a profit cycle, with the profit share in GDP rising from a low of 2 per cent in 2020 to about 5 per cent currently, and likely heading to 8 per cent in the coming four to five years. "This implies about 20 per cent compounding of earnings growth. "Underscoring this forecast is the start of a new private capex cycle, under-geared balance sheets, a healthy banking system, lower corporate tax rates, improving terms of trade, and structural consumption demand outlook albeit somewhat offset by likely consolidation in government deficit," said Ridham Desai, managing director, head of research, Morgan Stanley India in a note.
As a first step, the company has sponsored a Bloomberg news terminal at the Indian Institute of Management Ahmedabad.
News of all that's transpired on and off the football field
From its lows in December, the stock of Tata Motors is up about 15 per cent. The gains came on the back of better than expected December volumes in its UK-based subsidiary Jaguar Land Rover (JLR). This coupled with gradual recovery in the global passenger vehicle demand, improving profitability due to product mix and lower commodity costs are expected to be key positives for the company.
She said that earlier governments used to sell dreams to people while the present regime is fulfilling the dreams.
Naomi Osaka gears up for return hoping to inspire daughter Shai
The global investment banking major has begun the process to explore the sale of its wealth management operations in India.
England and Indian cricket board chiefs are in the running to succeed South Africa's Percy Sonn as president of the ICC.
HDFC Bank's latest shareholding data showed that the room for foreign investment has fallen just 5 basis points short of the threshold set by Morgan Stanley Capital International (MSCI) to fully include the stock in its indices. Currently, the index provider has applied an adjustment factor of 0.5 since the foreign room is less than 25 per cent. Removal of the adjustment factor will result in inflows of a massive $4.8 billion (Rs 40,000 crore) into HDFC Bank, according to Brian Freitas, a New Zealand-based analyst with Periscope Analytics.
Morgan Stanley draws optimism from a slew of favourable factors.
The Morgan 3 Wheeler is a rider's car. It is in essence a motorcycle with an additional wheel.
Liverpool's slim Premier League title hopes faded further on Saturday when Michail Antonio's late header earned West Ham United a deserved point with a 2-2 draw.
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.
The apex court has upheld the treatment of its business process outsourcing hub, Morgan Stanley Advantage Services, as a service permanent establishment.
Calling for immediate policy action by the government, it warned that in the absence of such a step the GDP growth could slide even deeper -- to 4.3 per cent in 2012-13.
'India's fundamentals are a lot better (than those of other emerging market economies).' 'India will suffer (witness a fall in its stock market) what I call the second order effect.' 'And the second order will happen when these funds (belonging to macro and hedge fund investors and which have leveraged Japanese yen-carry trades), because they lose money elsewhere as lot of their positions were financed by borrowing Japanese yen, will have to book profits in investment destinations where they are making money, including in markets like India.' 'They (these investors) will have to effectively sell in countries like India and which is the consequence (the crash in equity markets) that Indian markets might see.'
Eoin Morgan vowed not to make too many changes from Alastair Cook's tenure as captain.
J P Morgan Property Fund, which has mobilised over $300 million to focus on Indian real estate, is going to set up a residential project in Chennai, at an estimated cost of Rs 400 crore (Rs 4 billion).
Morgan insisted that teams are likely to do well if they stop being over-reliant on big names and find a collective group of players can deliver.
Exciting Irish batsman Eoin Morgan said tracking Tuesday's Indian Premier League auction was a "nerve-racking" experience and he had given up all hopes when he saw Shahid Afridi going unsold.
India Inc has high hopes from the upcoming Budget.
Morgan Stanley entered India in 1989 through an offshore fund --The India Magnum Fund. Ridham Desai, managing director and co-head (equity), has been with the firm since 1997. In an interview with Vandana, he speaks about the recent spike in the Indian stock market and the global recovery.
Despite the robust growth in this country, Apple's India share in its overall global sales remained modest -- constituting 1.5 per cent of its overall turnover of $389 billion in FY23.
Ahead of the second ODI Buttler had been dismissed for five single digit scores in eight outings.
It hopes to attract billions of dollars in investment by this move, and may ease some restrictions on foreign inflows.
In 21 ODIs this year, Buttler has scored 747 runs at an average of 39.31 and a strike rate of over 107, with the best score of 131. He scored a century and four fifties this year in ODIs.
The report expects the inflation framework, fiscal consolidation, infrastructure spending, FDI focus and strong external affairs policies to continue.
Stock markets are likely to remain range-bound in this holiday-shortened week amid a lack of any major domestic triggers, analysts said. Stock indices may also face volatility during the week amid the monthly derivatives expiry on Thursday. Equity markets would remain closed on Monday for Christmas.
Even though investment sentiment is dampened by the worsening macroeconomic factors, investors are optmistic.
England batsman Eoin Morgan has been ruled out of the rest of the five-match One-day series against India after feeling 'acute pain' in a recurring shoulder injury.
Naomi Osaka's return a boost for women's tour, says Mouratoglou
The private sector's new project announcements in the quarter ending March were among the highest on record. The value of new private sector project announcements for the three months ending March 2024 was Rs 9.8 trillion, shows data from tracker Centre for Monitoring Indian Economy (CMIE). This is the second-highest on record in data going back to 2009.
Higher valuation creation in companies beyond the top 100 has given the domestic markets a shot at a $4 trillion market capitalisation (mcap) - a club exclusive to three countries currently. On November 23, the mcap of all BSE-listed stocks finished at a new record of Rs 328.33 trillion ($3.94 trillion), despite the benchmark indices ending with losses. The mcap was propelled by gains in the broader market, including small and midcap stocks - a trend dominant this year.
