IMAGES from UEFA Champions League matches played on Tuesday
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.
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.
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.
As a first step, the company has sponsored a Bloomberg news terminal at the Indian Institute of Management Ahmedabad.
'Our two (spinners) bowled well but in hindsight, probably should have bowled Moeen in our innings with the way spin was playing.'
Shares of One97 Communications (OCL), which provides financial services under the brand 'Paytm', and has a banking arm Paytm Payments Bank (PPBL), hit the 5 per cent upper circuit at Rs 428.10 on the National Stock Exchange (NSE) in Monday's (February 26) intraday trade. The up move in the stock on Monday came after the Reserve Bank of India (RBI) asked the National Payments Corporation of India (NPCI), in post stock market hours, to look into the possibility of migrating PPBL customers, using the UPI handle '@paytm', to four-to-five other banks.
The auction of radio waves used for mobile services saw a muted opening on Tuesday, with five rounds attracting bids worth about Rs 11,000 crore from telecom companies. The government has put over 10,500 Mhz spectrum in eight frequency bands -- 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz and 26 GHz, valued at Rs 96,238 crore at base price, for auction.
JP Morgan has reiterated its negative stance on Indian information technology (IT) services and downgraded the sector to underweight (neutral earlier post Q4-FY23 numbers), as it believes the overall demand environment for the sector still remains weak. The research firm expects most companies in the sector to disappoint while announcing their first quarter numbers for the current fiscal (Q1-FY24). Among stocks, it has placed Infosys, TCS, MphasiS in its 'negative catalyst watch'.
Just ahead of its mega FPO opening to public investors, Vodafone Idea (VIL) has announced closure of its anchor book allocation, raising about Rs 5,400 crore from marquee global as well as domestic investors, according to a statutory filing by the telco. This could be the third-largest anchor book after One 97 Communications and Life Insurance Corporation (LIC). One 97 Communications and LIC had raised Rs 8,235 crore and Rs 5,627 crore in the anchor round, respectively.
News of all that's transpired on and off the football field
Foreign portfolio investors' (FPIs') net investments in the domestic debt market surged in December, marking a 77-month high, that is, since July 2017. According to market participants, this significant uptick in FPI inflows can be attributed to the post-domestic policy outcome and the US Federal Reserve's dovish stance at the December policy. FPI inflows into debt stood at Rs 18,393 crore in December against Rs 14,106 crore in November, according to data on the National Securities Depository Limited.
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.
Former England captain Nasser Hussain believes experienced all-rounder Ben Stokes made the "right decision" to withdraw from the T20 World Cup.
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.
The World Cup opener is set to be another barnstorming meeting between two of the favourites -- and a fitting way to start a cricketing feast.
Images from the English Premier League matches played on Saturday.
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.
Eoin Morgan vowed not to make too many changes from Alastair Cook's tenure as captain.
Market participants attribute the stability to the Reserve Bank of India's timely intervention in the foreign exchange market, both in terms of selling and buying dollars.
A first-half penalty earned Lille a shock 1-0 home victory over holders Real Madrid in the Champions League group phase on Wednesday.
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).
South Korean auto giant Hyundai Motor Company is considering tax implications of listing its Indian unit before taking a final call, according to sources privy to the development. Hyundai Motor is mulling an initial public offering (IPO) for its Indian arm to raise around $3 billion (at a valuation of up to $30 billion), and talks are in the early stages between the company and bankers, banking sources revealed. Hyundai Motor India Ltd (HMIL), however, declined to comment on the development.
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.
The oil industry experienced three upheavals between 1973 and 1991, which seem to be etched in the memory of the industry's decision makers. Naturally, at the sign of a new crisis, the decision makers like to dip into those tumultuous decades to find ways to deal with the new shock, in addition, of course, to expert reports and forecasts. So, the industry bigwigs turned the pages of history to get a peek into the future of oil price movements after Russia invaded Ukraine in 2022, Israel attacked Gaza in 2023, Iran-linked Houthi rebels pounded tankers crossing the Red Sea in support of Palestine the same year, and Iran rained missiles on Israel in 2024.
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.
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.
It hopes to attract billions of dollars in investment by this move, and may ease some restrictions on foreign inflows.
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.
She said that earlier governments used to sell dreams to people while the present regime is fulfilling the dreams.
Oravel Stays, the parent company behind the travel tech brand Oyo, is eyeing to clock Rs 100 crore in Q4FY24 profit after tax (PAT) and a 20 per cent revenue growth for FY24, according to informed sources. These numbers were part of an internal review meeting between founder Ritesh Agarwal and senior management earlier this week, where he spoke about the company's profitability trajectory and growth in business.
The report expects the inflation framework, fiscal consolidation, infrastructure spending, FDI focus and strong external affairs policies to continue.
Even though investment sentiment is dampened by the worsening macroeconomic factors, investors are optmistic.
