Morgan Stanley expects RBI to cut rates sharply rather than "dribble down".
Attributing to Morgan Stanley CEO James Gorman, the report by the Financial Times said that the company plans to boost its under-performing securities business by hiring several hundred traders over the next few years.
The 'Indian story' will be badly damaged if the Modi government is not re-elected, argues investment banker Christopher Wood.
Given the expectations of growth in the packaged foods segment, the company seeks to become a Rs 1-trillion FMCG business by FY30.
FSN E-Commerce Ventures, which runs online marketplace for beauty and wellness products Nykaa, has filed preliminary papers with markets regulator Sebi to raise Rs 3,500-4,000 crore through an initial share-sale.
It's going to be India's most exclusive super-rich club, with membership restricted to those with a minimum investible surplus of $1 billion. Called Private Investment Club, it will launch its services from September 16.Members of the club will get preferred access to deals that Morgan Stanley will be doing. They will also get to co-invest with Morgan Stanley in deals as well as participate as limited partners in its global funds.
Terming the just-concluded fiscal as an "okay year", a panel of financial experts said though this fiscal would be a challenging one, the domestic equity markets could turn out to be a "star performer".
Citigroup will soon announce what its executives describe as a drastic plan to shed a host of businesses and shrink itself by one-third, a leading financial daily said on Wednesday, citing people familiar with the bank.
Six consecutive profitable quarters after an equal number of losses - for Bharti Airtel, the turnaround has been quick. But it is not a result of higher tariffs or absence of exceptional items alone. Execution and strategy are playing a part, too. Bharti Airtel's chief executive officer Gopal Vittal summed it up in a post-result conference call last month. "We track the profit in each of our 237,500 (cell) sites.
The Indian economy remains on track to regain its position as the world's fastest-growing major economy after official estimates on Friday put the expansion at a tempered 9.2 per cent this fiscal amid concerns over the impact of a resurgent virus on the fragile recovery. The growth in the gross domestic product (GDP) of 9.2 per cent in April 2021 to March 2022 fiscal (FY 2021-22) given by the National Statistical Office (NSO) in its first advance estimate compares with 9.5 per cent expansion forecast by the Reserve Bank of India (RBI) last month. The economy had contracted by 7.3 per cent in the previous financial year.
The Bangalore-based company had raised $200 million in July from existing investors.
New book goes deep into Buffett's heart and soul and finds value in both places
Property developer Indiabulls Real Estate is talking to investors to raise at least $150 million (Rs 750 crore) from sale of shares to select investors as part of its qualified institutional placement (QIP) plan.
According to the global financial services firm, the recent steps taken by the government provide further confidence that not only is the reforms agenda on track but the pace is accelerating too.
Finance -- the most battered sector by the global meltdown -- is making a strong comeback.
The current crisis in the euro zone will not create any major problems for India, but a 10-15 per cent correction in markets is not ruled out if it worsens, says Ridham Desai, managing director and head of equities at Morgan Stanley India.
Analysts expect RIL to report consolidated revenue of Rs 1.40 trillion and 10 analysts expect RIL's net income to be Rs 9,629 crore
Call it a revival of the information technology (IT) industry or increase in demand from non-IT sectors, office lease and sale transactions have picked up by 10 to 15 per cent in the past quarter.
International oil prices retreated from an over seven-year high but was still above $100 a barrel and continue to pose threat to India's inflation rate and current account deficit. While there are no supply concerns as the oil route remained open, consumers will feel the pinch when PSU oil firms start passing on the increase in international rates through a revision in petrol and diesel prices, which have been on a pause for over three-and-a-half-months in view of elections in Uttar Pradesh and four other states. The government is "closely monitoring the situation" and will "take appropriate steps as and when required", a top official said. Brent crude oil surged past $105 per barrel on Thursday for the first time since August 2014, following Russia's invasion of Ukraine.
Markets regulator Sebi has kept in abeyance the processing of Go Airlines' draft papers for an initial public offer worth Rs 3,600 crore. Go Airlines (India) Ltd, which has announced rebranding itself as 'Go First', filed preliminary papers for an initial share sale worth Rs 3,600 crore in May. The proceeds will be mainly used to repay dues. The "issuance of observations (has been) kept in abeyance", according to Sebi's latest update on processing status of Go Airlines' draft offer documents. The information was updated on June 25. In Sebi parlance, issuance of observations implies its go-ahead for the IPO.
The bank remains on high alert to intervene if markets freeze.
The one-year bank deposit and the 10-year government bond finished at the bottom in terms of returns for 10-year and five-year horizons, respectively. Surprisingly, property was the worst performing asset class for the 15-year period.
It is possible to calm the waters, but it'll mean unlearning our post-Depression lessons
The Indian equity market has once again demonstrated its high beta characteristic in bear markets. The fundamental underpinning to this high beta status in bear markets is India's dependence on global financial markets to fund its macro -- more than three-fourths of the flows into India come from portfolio sources (which are linked to global financial market outcomes) -- quite the opposite of the emerging markets average.
Foreign institutional investors were the major sellers on the Indian bourses in the last six months, accounting for total outflows of Rs 62,000 crore (Rs 620 billion).
Less than three weeks after the curbs on participatory notes, overseas investors are rushing to invest in the booming Indian stock markets directly by applying for Foreign Institutional Investor licences.
Reliance Industries' eastern offshore KG-D6 gas fields at peak production will help the nation save $8.3 billion annually or 0.7 per cent of the GDP, investment banker Morgan Stanley said on Friday.
IndiGo heads towards $400 mln IPO as air travel booms.
But Citi's woes might call for more visionary and charismatic leadership than he can offer.
Morgan Stanley, which separated from its Indian partner Nimesh Kampani's JM Financial, has poached four senior executives including managing director of investment banking V K Bansal, from its erstwhile partner.
'India has got a large collection of world-class companies, extraordinary entrepreneurs, well-developed markets and an educated workforce that will act in its favour. What's been missing between this micro and macro is political impetus to reforms. The recent election changes the prospects for reforms,' says Stephen S Roach, chairman, Morgan Stanley Asia.
Goldman Sachs has amassed $2bn to use for property investments in Asia, a move likely to intensify competition for assets in fast-growing markets such as China and India.
The list of contenders for this job include Vikram S Pandit, currently Citigroup's investment banking head and a former Morgan Stanley investment banker, and Shaukat Aziz, formerly the bank's global private banking business head and most recently the prime minister of Pakistan, according to various media reports.
Stephen S Roach, chief economist at the US-based Morgan Stanley, returning from his fourth trip to India in three years, said the South Asian country has achieved breakthroughs in savings and foreign direct investments.
"We will complete the transformation within May 2007 and are talking to select foreign exchanges for a possible partnership," Bombay Stock Exchange Ltd managing director and CEO Rajnikant Patel said.
Two top investment banks, Enam Financial Services and JM-Morgan Stanley, have backed out from the high-profile initial public offering by real-estate developer DLF Universal
The high-profile bidding war for control of Hutch-Essar could intensify with reports in the British media suggesting that Indian partner Ruias have received funding pledges worth up to $25 billion to buy out foreign stakeholder Hutchison Telecom.
The Ruias have received overwhelming response from international banks for funding of their proposed bid to pick up Hutchison's 67 per cent equity stake in Hutchison-Essar Ltd, in which they hold the remaining stake.
Who knows when the top chief executives will once again get the fat bonuses they were used to? The last recession provides a hint.
Here's how you can get placed at an investment bank for your summer training.
