A Jefferies report warns that the IT services sector is set for a structural shift due to AI, requiring talent and operating model overhauls and increasing cyclicality.
The initial public offering (IPO) market in India last year was hot, with companies raising over $22 billion in 2025. But half of the 350-plus companies that listed on the stock exchange last year traded below their offer price, according to a new research report released by HSBC Global Investment Research - a sobering fact despite what otherwise looked like a rush of companies eager to list on the bourses.
The imposition of a 100 per cent tariff by the US on imports of branded and patented pharmaceutical products starting October 1 may not significantly hurt Indian drug makers, with Sun Pharma being exposed to some headline risk but with limited earnings impact, according to analysts. Among Indian companies, only Sun Pharma has sizeable sales from patented drugs in the US (about 17 per cent of 2024-25 revenue), HSBC Global Investment Research said in a report.
GST Reform 2.0, which trims tax slabs from four to two, signals a push for demand-led growth, and together with recent income tax cuts, sets the stage for sustained economic growth, experts said. The Goods and Services Tax (GST) Council on September 3 approved an overhaul of the indirect tax regime by taxing essentials at 5 per cent and other goods at 18 per cent. A new 40 per cent tax will be applicable on luxury and sin items.
'Listing of scaled Indian subsidiaries of multinational corporations as well as of Indian conglomerates continues to remain a key theme for IPOs in India.'
As India faces slowing economic growth, HSBC Global Research has downgraded the Indian stock market outlook from "overweight" to "neutral". In a report, the global financial services firm said profits at India Inc appeared to have softened while valuations are elevated. After annualized growth of 25 per cent in recent years, profits appear to have softened while valuations are elevated at 23x forward earnings.
In a filing to the BSE, Maruti Suzuki India said HSBC Global Investments Fund Mauritius Ltd had sold 1,99,198 shares in the open market on June 29.
The Indian market remains an attractive place to do business for the nation's entrepreneurs, with 75 per cent of them operating domestically.
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.
After lagging behind benchmarks and broader indices over the past five years, real estate investment trusts (Reits) have outperformed them since the start of 2024. The four listed Reits have posted an average return of 16 per cent year-to-date, compared to 9.9 per cent for the S&P BSE Sensex and 11 per cent for the National Stock Exchange Nifty.
Management commentary on demand environment, and forward guidance will be in focus when Indian IT services players declare their September quarter results for financial year 2024-25 (Q2FY25). The industry is exepected to have continued on the path of recovery in Q2, similar to the preceding quarter, rather than sprint towards growth. The top four firms likely grew between 0 per cent and 4 per cent year-on-year (Y-o-Y), according to consensus estimates.
India's manufacturing sector saw a slower growth rate for the second straight month in May but stayed firmly in expansion mode with global sales increasing to the greatest extent in over 13 years, a monthly survey said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 58.8 in April to 57.5 in May, signalling a slower but substantial improvement in the health of the sector. The index had climbed to a 16-year high of 59.1 in March.
When it comes to electric cars, the electric dream is turning out to be a six-letter word starting with f, ending with y, and having antas in between, notes Suveen Sinha.
Life Insurance Corporation of India (LIC) February 8 for the first time ever crossed the Rs 7 trillion market capitalisation, as the stock price of state-owned insurer hit a new high of Rs 1,144,45, on rallying 10 per cent on the BSE. The board of directors of the Corporation are scheduled to meet today i.e. February 8, 2024, to consider a proposal for declaration of interim dividend for the financial year 2023-24 (FY24). The board will also consider and approve the unaudited financial results for the quarter and nine-month period ended on December 31, 2023.
Mutual funds (MFs) have lined up information technology (IT) funds, indicating that technology stocks are back on fund managers' radar after a hiatus. Over the past 18 months, stock prices for companies in the software space have either corrected or remained subdued. Fund houses have launched five IT-based sectoral funds in the past three months, with three of them taking the passive route.
Distribution yields could rise, but risk of Covid, higher interest rates remain.
Consumption of gold is the highest among middle-income households - those with annual income between Rs 2 lakh and Rs 10 lakh - who account for an average of 56 per cent of gold sales over the last five years, according to a nationwide survey conducted by India Gold Policy Centre (IGPC) at the Indian Institute of Management, Ahmedabad (IIM-A). "Per capita consumption is highest among the rich, but total volume still rests with the middle-income group. "With increasing income, there is an increasing propensity to consume gold, although the share of gold in the portfolio does not increase with the same proportion of income," the survey report says.
The new offer is part of its strategy to turn India to an exclusively 4G market.
Here are 15 companies that research houses believe could see significant impact due to the Budget proposals.
Let's take a look at countries that will see biggest jump in exports.
According to global financial services major, despite its recent slowdown, India's economic promise remains substantial, with the growing population and nascent domestic middle class generating a growing market for consumption goods.
Similarly, 51 per cent of 105 market participants polled by RBS said they do not expect a CRR cut in the quarterly policy announcement next Tuesday.
Chandra, who will turn 69 years old on Saturday, becomes non-executive director with immediate effect.
The churn in investment banks, though less muted than in the heydays of 2007, is gathering speed. "The pent-up desire to move is very high at the moment," says R Suresh, managing director at head hunting firm Stanton Chase.
Indian equities have had a rocky start to 2008, after years of double digit growth, but that has not stopped providers coming to the market with fund launches
Financial services giant HSBC on Tuesday opened its fifth group service centre in India, to provide superior services to its customers worldwide.
Bharti may look at gaining market share pre-merger and benefit from a lower capex intensity
A slew of Indian firms, including Flipkart, Byju's and Zomato, is building a path to profitability and diversifying into newer business segments ahead of mega-IPO plans.
Growth, said HSBC, would be helped by higher public investment, bankruptcy code and direct transfer of subsidies
Wiping off nearly Rs 4 lakh crore of investors' wealth during the day, benchmark Sensex crashed on Friday.
The HSBC Emerging Markets Index, a monthly indicator derived from the PMI surveys, remained only just above the neutral threshold of 50.0 in September, signalling muted output growth in emerging markets.
It, however, remains to be seen how much money Softbank actually puts in, what the implied equity valuation is and if the e-commerce venture is included in the Jio entity.
One of the reasons is the increasing number of upgrades in analysts' recommendations.
India has pipped China to drive the volume growth of smartphones in the world on the back of falling prices of high-end devices.
Competitive price will face stiff challenge from incumbents such as DD Free Dish
Domestic airlines expect the fall in prices of aviation fuel to boost their earnings from the quarter ending December.
Good performances by most information technology (IT) companies in the September quarter and improved forecasts notwithstanding, with the exception of Infosys, stocks of IT biggies such as TCS, Wipro and HCL Technologies have fallen three to nine per cent since Infosys announced its earnings on October 11.
Analystsare showing optimism in Sensex EPS growth after double digit growth in the second quarter of current year.
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