Wipro's clients currently include over 100 US payers, healthcare providers, and public health agencies.
Mining magnate Anil Agarwal's conglomerate on Friday announced a major business shake-up, with flagship Vedanta Ltd approving a spin-off of its metals, power, aluminium and oil and gas businesses into separate listed entities and an overhaul of lucrative zinc unit planned as part of value creation and reducing debt load. Vedanta will issue one share of the five demerged businesses for every share held in the company, the firm said in a statement. The entire exercise, which would require shareholder and lender approval as well as a nod from the stock exchanges and courts, is expected to be completed in 12-15 months, its president for finance Ajay Agarwal said.
As part of its expansion drive in the high-potential Indian financial services market, Barclays Bank plans to pick up a 10 per cent stake in asset reconstruction company, ARCIL, from domestic banking major ICICI Bank.\n\n
Exposure to debt funds and gold is essential even if current returns from these asset classes are low, suggests Sanjay Kumar Singh.
Telecom operator Bharti Airtel on Tuesday posted a 49.2 per cent jump in its consolidated net profit to Rs 3,005.6 crore for the January-March quarter of 2022-23 on the back of new 4G customers and strong growth in average revenue per user (ARPU). The company had recorded a net profit of Rs 2,007.8 crore in the same period a year ago. Bharti Airtel's consolidated revenue from operations grew by 14.31 per cent to Rs 36,009 crore during the reported quarter from Rs 31,500.3 crore in the March 2022 quarter.
Friday will be a landmark day for domestic markets, with all the listed stocks entering the professed T+1 (trading plus one day) settlement cycle. About 200 stocks, which account for more than 80 per cent of India's market capitalisation, will be settled on a next-day basis, with effect from January 27. This will evidently complete the transition to the T+1 cycle that started in February 2022 with the bottom 500 stocks in terms of market value.
The Public Enterprises Selection Board, which is the government head-hunter, interviewed seven candidates for the post, which fell vacant after Dinesh K Sarraf was elevated as Chairman and Managing Director of ONGC.
In the face of tax blow, brokerages remain sanguine about the prospects of asset management companies (AMCs). A sharp correction in the shares of AMCs over the past three months factors in most of the negatives and turned valuations attractive, observe analysts. In its latest report, Kotak Institutional Equities (KIE) has upgraded HDFC AMC to 'add' (from 'reduce') and reprised 'add' and 'buy' ratings on the rest of the listed AMCs - Nippon, UTI, and Aditya Birla Sun Life.
'This resilience should be viewed as reflecting the strength of the structural story.'
An NCD's credit rating will tell you whether risk possibility is high or low. Instruments rated below AA are regarded as high-risk.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Companies don't have to be in the field to nudge people to return money they owe lenders.
The benchmark Nifty50 managed to reclaim its 200-day moving average (DMA) on Wednesday but about half of top 500 stocks continue to languish below this key technical indicator. The 200-DMA - nearly a year's average of closing prices - is analysed by traders to understand the market sentiment. A fall below these levels indicates a weak trend.
The all-cash deal is expected to close in the March 2016 quarter.
The investor has now put together a fund of $3.75 billion to back private companies.
Regulator Irdai on Friday directed SBI Life Insurance Company to takeover the policy liabilities of around two lakh policies along with assets of Sahara India Life Insurance Co Ltd (SILIC) with immediate effect. The decision was taken at the meeting of the Insurance Regulatory and Development Authority of India (Irdai) in view of deteriorating financial health of the SILIC. "The Authority has identified SBI Life Insurance Company Limited (SBI Life), which is one of the largest life insurers in the country with satisfactory financials, as the acquirer insurer of the life insurance business of SlLIC.
Meta Platforms Inc, the parent company of WhatsApp, will partner with Reliance JioMart for a service where WhatsApp users can buy groceries on the messaging platform from the Indian retail firm. Mark Zuckerberg, chief executive officer (CEO) of Meta Platforms, said in a Facebook post, "[I am] Excited to launch our partnership with JioMart in India. "This is our first-ever end-to-end shopping experience on WhatsApp--people can now buy groceries from JioMart right in a chat." "Business messaging is an area with real momentum and chat-based experiences like this will be the go-to way people and businesses communicate in the years to come," he said in an announcement coinciding with the annual general Meeting (AGM) of Reliance Industries the parent company of JioMart.
Over longer periods of three, five and 10 years, small-cap funds have rewarded their investors handsomely.
'The ability to tailor schemes to market conditions and invest in unlisted equity and real estate, as well as commodities, makes Alternative Investment Funds a sought after platform.'
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
Do you have parents who have turned 60? You may want to forward Sarbajeet K Sen's suggestions to them.
As part of its road map to achieve 100 per cent dependence on renewable energy by 2025, Amazon on Wednesday announced its first utility-scale renewable energy projects in India - three solar farms located in Rajasthan. These include a 210-megawatt (Mw) project to be developed by India-based developer ReNew Power, a 100 Mw project to be developed by local developer Amp Energy India, and a 110 Mw project to be developed by Brookfield Renewable Partners. By the end of 2021, the company had reached 85 per cent renewable energy across its business.
'This is the first time we will see how SIP investors react to market correction.'
After withdrawing record funds in 2021-22, foreign portfolio investors (FPIs) continued their sell-off in the last fiscal too and pulled out Rs 37,631 crore from Indian equities amid aggressive rate hikes by central banks globally. The outflow trend is likely to reverse in the current financial year since India has the best growth potential in the financial year 2023-24 (FY24), VK Vijayakumar, chief investment strategist at Geojit Financial Services, said. Market analysts believe that FPI flows in the current financial year would be decided by a host of factors, such as the US Federal Reserve's policy stance, oil prices movement and development in the geopolitical situation.
Reserve Bank Governor Shaktikanta Das on Wednesday said in the wake of appreciating US dollar, the movement of rupee has remained least disruptive as compared to its peers, and the size of foreign exchange reserve is comfortable. On a financial year basis (from April to October 2022), the rupee has appreciated by 3.2 per cent in real terms, even as several major currencies have depreciated, he said while announcing the latest set of bi-monthly monetary policy. "The story of the rupee has been one of India's resilience and stability," the Governor said while pointing out that the appreciation of the US dollar this year, which precipitated large-scale depreciation of all major global currencies including the Indian rupee, has drawn wide attention.
When there is panic, you get an opportunity to get your hands on some of the good stocks.
In a mixed bag for HDFC Bank ahead of the parent HDFC's merger with itself, the Reserve Bank of India has declined to make exceptions on certain aspects, and has offered some leeway on others. The country's largest private sector lender, which is aiming to conclude the merger with the home finance major by July, had written to the central bank seeking certain forbearances after announcing the $40-billion merger in April last year. In an exchange filing this evening, HDFC Bank said it received a response from RBI on Thursday and also said that there are a few pending issues.
With the markets scaling new highs, as many as 43 stocks from the Nifty50 index and 27 of the 30 scrips that are part of the S&P BSE Sensex are trading above their respective 200-day moving average (DMA). The 200-DMA is seen as one of the most relevant trend indicators by investors and traders, who believe that stocks and indices trading above this level possess strength and are likely to rally in the short to medium term, while the ones trading below this level are viewed as bearish and expected to see a sell-off. Wipro, UPL, Kotak Mahindra Bank, Hindalco, Infosys, Cipla, and Adani Enterprises are the only stocks from the Nifty50 pack that are still below their respective 200-DMA, the exchange data suggests.
'But he was very quick and did a very stylish adab.' 'Of course, I didn't expect him to hug.'
Having exposure to international funds and gold is a must for those who have foreign currency-denominated goals.
Despite the current bout of volatility, debt-oriented hybrid funds remain well suited for risk-averse investors.
Except for Westlife Foodworld (Westlife), a weak 2022-23 (FY23) January-March (fourth quarter, or Q4) quarter performance and a muted near-term outlook led to a downward revision of earnings estimates for quick-service restaurant (QSR) players. Brokerages have slashed estimates by as much as 10 per cent for 2023-24 (FY24) and 2024-25 (FY25). The downward revisions have weighed on the performance of listed players, who have underperformed the market with low single-digit returns over the past month.
Consumption is among the most diversified and sought-after themes in Indian equities. Over the past five years, consumption theme funds have given an annualised category average return of 15.17 per cent, according to the data from Value Research. But this theme has been affected by the Covid-19 pandemic, which impacted jobs and livelihood.
'For those looking at forward-looking signals for the economy from the stock markets, the relative performance of small and mid-caps may be a better indicator of the future than the index levels of the narrower and more popular indices', says Neelkanth Mishra.
This may mean easier access, simplified KYC and documentation requirements, and fewer investment restrictions for a majority of FPIs, especially broad-based funds and pooled vehicles that were earlier part of Category-II.
'The consolidation of the world's fifth-largest economy in the hands of 15-20 corporate giants is a once-in-generation event, which we are focusing on.'
As and when the GST comes in, Budget projections will have to be unbundled and revised. In fact, the pragmatic decision would be to present another Budget! This makes the passage of the Finance Bill with its multiple unrelated amendments seem even more dubious, says Devangshu Datta.
With equity and commodity exchanges allowed to enter each other's areas from October, brokerages are pump-priming their businesses to allow their clients seamless trading in commodities and equities.
Outsourcing needs trained professionals who can think like American mangers and correspond with customers. It takes years to develop these skills, says SlashSupport CEO Shiva Ramani.
Given the prevailing uncertainties, investors must maintain a 10-15 per cent allocation to gold in 2023.
