A fall in crude oil price and Aramco's $75 billion annual dividend commitment may have delayed Saudi company picking a stake in Reliance Industries Ltd's oil-to-chemical unit (O2C), research firm Jefferies said. Richest Indian Mukesh Ambani had in August 2019 announced talks for the sale of a 20 per cent stake in the O2C business, which comprises its twin oil refineries at Jamnagar in Gujarat and petrochemical assets, to the world's largest oil exporter. The deal was to conclude by March 2020 but has been delayed for reasons not disclosed by either company.
Among the 'Fragile Five' currencies as defined by Morgan Stanley, the rupee has emerged as the biggest gainer since August 28, 2013.
PB Fintech, the parent of Policybazaar and Paisabazaar, has set a price band of Rs 940-950 apiece for its initial public offering (IPO), which will open on November 1 and close on November 3. The company may be valued at around Rs 44,000 crore, and looking to raise an amount of around Rs 5,826 crore. The IPO comprises a fresh issue of Rs 3,750 crore, along with an offer for sale (OFS) of Rs 1959.72 crore by existing promoters and shareholders.
Broking firm Jefferies says Indian financial system is now flooded with the kind of liquidity witnessed in 2005-07 and 2009-10
Let's take a look at 12 biggest social-media sites in the world.
This is the sixth mark down for the largest e-commerce marketplace of the country in as many months.
Many financial advisors are advising clients to invest in commodities.
India is world's one of the biggest e-commerce markets.
As markets complete the first half of the calendar year 2022 (CY22) with a fall of around 9 per cent, the interest-rate hike trajectory by global central banks, paired with the conundrum of inflation and growth, will move the needle for the market, observe experts. Here's a quick rundown on what they'll react to over the next six months.
India has the highest proportion of CODs at 60% of total orders, compared to 50% in China, 28% in Indonesia, and 24% in Brazil
India Today's annual list ranks the top 100 colleges in the country.
Amid news of a fuel shortage in some parts of the country and wider unrest over fuel issues in the neighbourhood, an analysis of the data from international tracker globalpetrolprices.com shows that the per litre price of petrol is higher in India than in seven out of its nine neighbours.
Let's take a look at some commodities and see how they are expected to perform in the next two years.
The report further noted that inflation is expected to fall to 4.5 per cent by quarter ended March 2017.
After new-age tech companies reported better-than-expected June quarter (Q1FY23) results, analysts said it will be a long road to recovery for their respective businesses and the stock prices. Moreover, brokerages differ on whether it is the right time to own these stocks. The common thread, however, that runs across most brokerages is Zomato, where they suggest buying the stock with the one-year target price ranging between Rs 60 - 115, translating into an upside of around 9 - 109 per cent from the current levels. The company's gross order value (GOV) of food delivery jumped 10 per cent quarter-on-quarter (QoQ) and 42 per cent year-on-year (YoY) in Q1, aided largely by growth in volume, and mild growth in average order value (AOV) at 1-2 per cent. The company also broke even on an adjusted Ebitda basis during the quarter.
Private equity major Carlyle group on Friday sold shares worth over Rs 4,800 crore in SBI Cards and Payment Services and its nominee stepped down from the company's board. CA Rover Holdings (CARH), a subsidiary of Carlyle group, offloaded more than 4.7 crore shares of SBI Cards and Payment Services Ltd (SBI Card) worth about Rs 4,811 crore through open market transactions on BSE and NSE. With the latest sale of shares, the group's shareholding in the company fell below 10 per cent, following which its nominee director on SBI Card's board -- Sunil Kaul -- stepped down.
HSBC has cut Reliance Industries to 'underweight' from a 'neutral' rating.
As the 2019 election draws near, investors focus on long-dated options.
Te market is expecting Maruti Suzuki stock to perform well.
Domestic households are grossly underexposed to equities.
In a repeat of the previous year's results, the US bank came ahead of rivals Goldman Sachs, Deutsche Bank, Bank of America Merrill Lynch and Citi, which all tied for second place, according to industry analytics firm Coalition.
Prime Minister Narendra Modi Wednesday said the International Monetary Fund (IMF) sees India as a "bright spot" in the global economy and as per the World Bank, India is in a better position to deal with the global headwinds than many other countries. This is because of India's strong "macroeconomic fundamentals", Modi said while virtually addressing the inaugural function of the 7th edition of Invest Madhya Pradesh-Global Investors Summit in Indore. In the past eight years, the government has increased the speed of reforms and removed many hurdles in the way of investments.
Also, the combination of a new entrant and new technology is not necessarily good.
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The newly-appointed Governor Raghuram Rajan said on Wednesday Reserve Bank of India will offer a window to banks to swap the fresh FCNR-B dollar funds, mobilised for a minimum tenor of three years and over, at a fixed rate of 3.5 per cent per annum. According to Bank of America Merrill Lynch, "the move should fetch $8-10 billion", adding that the move would help in shifting rupee risks away from NRIs at a time of extreme volatility.
With retail inflation surprising on the upside, the six-member monetary policy committee (MPC) of the Reserve Bank of India (RBI) is expected to increase the repo rate by 35-50 basis points (bps) in the review scheduled for September 28-30. According to economists, the central bank will continue to focus on bringing inflation down even though economic growth has remained sluggish. Data released by the government on Monday showed that the consumer price index (CPI)-based inflation increased by 7 per cent year-on-year (YoY) in August, thus, staying above the upper tolerance limit of the central bank for all the eight months of 2022.
JPMorgan, Goldman Sachs, Bank of America Merrill Lynch and Morgan Stanley, as well as Britain's Asia-focused Standard Chartered said they would try to support London's financial sector
Initial public offerings (IPOs) by start-ups are bringing cheer to investors and investment bankers alike. After food delivery company Zomato, Nykaa has issued the fattest pay cheque to the managers of its share sale -- Rs 148 crore, or 2.8 per cent of its issue proceeds of Rs 5,300 crore. In absolute terms, this is the second-highest amount paid to investment bankers for handling an IPO, while in percentage terms, it is the highest for large IPOs (>$300 million) in the last one year, shows an analysis of the data provided by Prime Database, a primary market tracker.
These include increasing the public float in listed companies to 35 per cent from 25 per cent, increasing the minimum statutory limit for FPI investment in a firm from 24 per cent to the sectoral foreign investment, and lowering government holding in listed public sector undertakings.
Many years during which monsoons were poor saw high returns, while normal or excess rainfall has also coincided with poor calendar year gains.
Interview with Asia-Pacific economist, Morgan Stanley
'Yet the market didn't do all that badly because it was cushioned by domestic inflows.'
Ridham Desai, MD, Research, Morgan Stanley tells us what the industry has to offer for aspiring investment banking professionals.
Everyone is worried about inflation making their money worth less or even worthless.
Results for the quarter ended December showed how the actual results for many large companies turned out to be worse than analysts' estimates.
The defence minister also took an indirect dig at Gandhi for "doubting" the government's intention in the handling of the border row with China and said politics can not be done on the basis of "falsehood".
The only asset class which has given them positive real returns in the last five years is gold, says Ridham Desai, strategist and head of India Equity Research at Morgan Stanley India.
Others shortlisted by the Department of Disinvestment for the NTPC offer were Deutsche Bank, SBI Capital Markets and Kotak Mahindra Capital.
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.
Investors including units of Morgan Stanley and Citigroup have agreed to buy 28.3 million shares of Bharti Infratel at Rs 230 apiece.
