Reliance Industries' (RIL's) oil-to-chemicals (O2C) business is likely to remain under pressure for the remaining of the current financial year, according to analysts and company executives. "Management guides for softness for the next couple of quarters in both retail and O2C businesses," analysts at BOB Capital Markets noted in an after-results report on RIL. For the July-September quarter (Q2) of 2024-25 (FY25), RIL's O2C business reported a 5.1 per cent year-on-year increase in revenue to Rs 1.55 trillion.
Morgan Stanley has upgraded China's equities amidst optimism about the country relaxing restrictions to slow down the spread of Covid-19. "Multiple positive developments alongside a clear path set towards reopening warrant an upgrade and index target increases for China," the brokerage said in a note. MSCI China's return on equity (ROE) is likely to rise from 9.4 per cent to 11.1 per cent by the end-2023.
Manchester City came from behind to beat Club Brugge 3-1 and secure their place in the Champions League playoffs
Morgan Stanley on Thursday became the latest brokerage to question the valuations of Indian equities and downgraded them from 'overweight' (OW) to 'equalweight' (EW) and recommended taking some money off the table. "We move tactically EW on India equities after strong relative gains - we expect a structural multi-year earnings recovery, but at 24 times forward price-to-earnings (P/E) we look for some consolidation ahead of US Fed tapering, an RBI hike in February and higher energy costs," Morgan Stanley equity strategists, led by Daniel Blake and Jonathan Garner, said in a note on Asia Pacific markets. The brokerage has upgraded Indonesia to OW, while maintaining an EW stance on China and UW on Taiwan.
Images from Saturday's action in the Premier League.
JP Morgan has downgraded the Indian information technology sector to 'underweight' as it believes the heydays of the sector are over. Rising margin headwinds in the near-term and the revenue headwinds in the medium-term from a potential macro slowdown, Ankur Rudra and Bhavik Mehta of JP Morgan said in the report, will mean that the sector's earnings upgrade cycle is behind. "We see peak revenue growth behind us and earnings before interest and taxes (EBIT) margins trending down from inflation, mean revision.
India's most valued company, Reliance Industries Ltd (RIL), reported a robust performance in the third quarter of the current financial year (Q3FY25), surpassing analyst expectations. This coupled with positive commentary by brokerages led to the stock of the oil-to-telecom conglomerate surging as much as 4.44 per cent to hit an intraday high of Rs 1,325.1. It settled at Rs 1,301.3 apiece, up 2.57 per cent.
The Madhya Pradesh all-rounder was bought by KKR for a massive bid of Rs 23.75 crore.
The WCC will meet on Monday and Tuesday at Lord's ahead of the second Ashes Test between England and Australia, with various outputs from the meeting to be communicated after the conclusion of the match.
China has stayed on top for two consecutive months in the MSCI Emerging Markets Investable Market Index (EM IMI), after ceding the position to India in August. At the end of October, China's weight in the key EM gauge stood at 24.72 per cent, up from 21.58 per cent at the end of August. India's weight during this period has slipped to 20.42 per cent from 22.27 per cent.
Former India opener Gautam Gambhir feels one shouldn't compare Chennai Super Kings captain Mahendra Singh Dhoni and Kolkata Knight Riders skipper Eoin Morgan despite the two players having a similar record with the bat in the ongoing 14th edition of the Indian Premier League.
Afghan, who retired from all formats on Sunday after the match against Namibia in the ongoing T20 World Cup, had captained Afghanistan to 42 wins out of 52 games.
'I am not sure about another two (tournaments). Obviously, results determine how well you do and how often you are kept on. But certainly, my hunger and determination are as strong as ever.'
The 35-year-old's recent batting woes have also raised concerns over his form ahead of the World Cup, where he will lead England, who face defending champions West Indies in their opening match on October 23 in Dubai.
IMAGES from the Premier League matches played on Sunday
Morgan (68) found runs all over the ground and seemed in a hurry from the get go as the net run rate would have been on his mind.
After a robust 2023, foreign investors significantly scaled back their investments in Indian equities in 2024, with net inflows amounting to over Rs 5,000 crore, as elevated domestic valuations, coupled with geopolitical uncertainties prompted investors to adopt a more cautious stance. Looking ahead to 2025, FPI flows into Indian equities could see a recovery, supported by a cyclical upswing in corporate earnings, particularly in domestic-oriented sectors like capital goods, manufacturing, and infrastructure, Vinit Bolinjkar, head of research, Ventura Securities, said.
Images from Sunday's action in the Premier League.
Morgan and white-ball vice-captain Jos Buttler were accused of mocking the Indian use of English language
The Aussies will spend the quarantine in the Maldives before heading home.
Apple and its vendors are aiming to assemble 32 per cent of iPhone's global production volume and 26 per cent of its value in India by 2026-27 -a year after the final year of the five-year production-linked incentive (PLI) scheme for mobile devices. This could translate into a production value of over $34 billion, assuming global iPhone sales remain consistent with 2023-24 (FY24) levels. The estimates are based on discussions between Apple Inc and its vendors, along with central and state governments, regarding the assembly of products in India, according to sources.
England skipper Eoin Morgan and Sam Billings are doubtful for Friday's second ODI against India in Pune after sustaining injuries in the series-opener, dealing a fresh blow to the side's floundering campaign.
Foreign investors were net sellers of domestic debt in October for the first time since the official inclusion of Indian government bonds in the JP Morgan bond indices, with net outflow worth Rs 4,697 crore. This marked the second instance in the current calendar year where foreign portfolio investors (FPIs) were net sellers in a month.
Adelaide Oval's head curator Damian Hough has also promised a 6mm grass cover to ensure that the pink ball doesn't wear out early during the day-night Test, starting on Friday.
India is likely to be the fastest-growing Asian economy in 2022-23, according to analysts at Morgan Stanley. They expect India's gross domestic product growth to average 7 per cent during this period - the strongest among the largest economies - and contributing 28 per cent and 22 per cent to Asian and global growth, respectively. The Indian economy, they said, is set for its best run in over a decade as pent-up demand is unleashed.
Defence Minister Rajnath Singh and Minister of State Dr Jitendra Singh take the India-US defence relationship forward.
England captain Eoin Morgan has kept the lid on who will move up to partner opener Jos Buttler and dismissed suggestions his side would be "strong favourites" against New Zealand in the semi-final of the Twenty20 World Cup on Wednesday.
Leandro Trossard transformed the mood at Arsenal with the winning goal as they recovered from an early setback to beat Tottenham Hotspur 2-1 at home.
He was referring to his Twitter posts after that game in which he asked Morgan and Tim Southee to not use "derogatory" words and lecture him on 'Spirit of Cricket' by taking a moral high ground.
A homophobic tweet dating back to 2010 from Jimmy Anderson has also emerged.
India is poised to be the third largest global economy by 2030 but rising population presents mounting challenges in basic service coverage and growing investment needs to maintain productivity, S&P Global Ratings said on Thursday. It said emerging economies have high ambitions for the next decade and beyond with India aiming to become a $30 trillion economy by 2047, from the current $3.6 trillion. India is currently the fifth largest economy.
A round-up of Saturday's action in the English Premier League.
The Indian rupee is likely to depreciate further against the US dollar through the end of 2024. This is due to the continued strengthening of the greenback, combined with the weakening of the Chinese yuan, which is expected to keep pressure on the Indian currency.
Vaughan has backed Jos Buttler to become the team's white-ball skipper
Manchester United languish 14th in the standings on 19 points, their worst placing to end a calendar year since they were 15th in 1989.
Algerian boxer Imane Khelif, who won gold in the women's 66kg boxing event at Paris 2024, is facing mounting calls to be stripped of her medal. A leaked medical report reveals that Khelif has internal testicles, an XY chromosomal pattern, and male testosterone levels.
These 10 stocks represent the best mix of value and growth, offering relatively low price-to-earnings and price-to-book ratios, a high return on equity, and sufficiently high potential from current levels.
Eoin Morgan has said that Dinesh Karthik is a vital cog in the franchise's set up
An angry Ravichandran Ashwin on Thursday asked Eoin Morgan and Tim Southee to not use 'derogatory' words and lecture him on 'Spirit of Cricket' by taking a moral high ground after their on-field bust-up over an extra run during an IPL game.
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