South Korean auto giant Hyundai Motor Company is considering tax implications of listing its Indian unit before taking a final call, according to sources privy to the development. Hyundai Motor is mulling an initial public offering (IPO) for its Indian arm to raise around $3 billion (at a valuation of up to $30 billion), and talks are in the early stages between the company and bankers, banking sources revealed. Hyundai Motor India Ltd (HMIL), however, declined to comment on the development.
Foreign portfolio investors' (FPIs') net investments in the domestic debt market surged in December, marking a 77-month high, that is, since July 2017. According to market participants, this significant uptick in FPI inflows can be attributed to the post-domestic policy outcome and the US Federal Reserve's dovish stance at the December policy. FPI inflows into debt stood at Rs 18,393 crore in December against Rs 14,106 crore in November, according to data on the National Securities Depository Limited.
The outcome of the general elections, the Morgan Stanley note says, has enough firepower to sway the markets on either side.
Morgan Stanley attributes the strength in the domestic rally to local flows.
After 13 years, Morgan Stanley Investment Managers on Thursday launched its second fund, Morgan Stanley ACE (Across Capitalisations Equity) Fund, which will invest in a portfolio of equity and equity-related securities, including equity derivatives.
Indian brokerage arm of global investment banker Morgan Stanley has sought RBI's approval to start proprietary trading under which it will be able to buy and sell securities on its own account.
England suffered another injury blow ahead of the World Cup after explosive batsman Eoin Morgan joined the growing list of casualties with broken left middle finger.
With India's inclusion in global bond indices starting next financial year, the central government believes there will be greater scope for shifting to borrowings via long-term government securities (G-sec) from short-term instruments. This change may be factored into the FY25 interim Budget. "While this has been our focus, the inclusion of India in global bond indices gives us the opportunity to accelerate the shift towards longer tenure G-secs," an official said, requesting anonymity.
Market participants attribute the stability to the Reserve Bank of India's timely intervention in the foreign exchange market, both in terms of selling and buying dollars.
If MSGF had shared the complete portfolio with its investors more frequently, the red flag on its misconceived investments might have been raised earlier.
England batsman Eoin Morgan was approved as a replacement for Kevin Pietersen at the World Cup by the International Cricket Council on Monday.
The private sector's new project announcements in the quarter ending March were among the highest on record. The value of new private sector project announcements for the three months ending March 2024 was Rs 9.8 trillion, shows data from tracker Centre for Monitoring Indian Economy (CMIE). This is the second-highest on record in data going back to 2009.
From its lows in December, the stock of Tata Motors is up about 15 per cent. The gains came on the back of better than expected December volumes in its UK-based subsidiary Jaguar Land Rover (JLR). This coupled with gradual recovery in the global passenger vehicle demand, improving profitability due to product mix and lower commodity costs are expected to be key positives for the company.
Morgan Stanley has big plans to invest in India's real estate.
But the clear winner between them is yet to emerge.
Alastair Cook has been dropped as England captain for next year's 50-over World Cup in Australia and New Zealand, the BBC and Sky Sports reported on Friday.
Eoin Morgan and David Willey shone as England held their nerve to beat Australia by three wickets in a tense fourth one-day international at Headingley on Friday and level the series at 2-2.
By financial year 2024-25, Morgan Stanley expects per capita income to rise 125 per cent to $3,650.
England's one-day international captain Eoin Morgan and batsman Alex Hales will not tour Bangladesh due to security concerns, the England and Wales Cricket board (ECB) announced on Sunday.
Naomi Osaka gears up for return hoping to inspire daughter Shai
Eoin Morgan became the first player to hit centuries for two countries, guiding England to a two-wicket win over Bangladesh in the second one-day international on Tuesday.
He quit after another executive was appointed co-presidents bypassing him.\n
India's August industrial output rose just 0.4 per cent compared with 2.4 per cent estimated in a Reuters poll.
India Inc's net profit as a percentage of the country's gross domestic product (GDP) is just shy of reaching 5 per cent, bolstered by strong earnings growth in the second quarter of 2023-24. Analysts interpret this as an indication that a corporate profit upcycle is in progress, with projections suggesting that this share could exceed 8 per cent within the next five years, driven by bullish earnings growth expectations. "We believe we are only halfway through a profit cycle, with the profit share in GDP rising from a low of 2 per cent in 2020 to about 5 per cent currently, and likely heading to 8 per cent in the coming four to five years. "This implies about 20 per cent compounding of earnings growth. "Underscoring this forecast is the start of a new private capex cycle, under-geared balance sheets, a healthy banking system, lower corporate tax rates, improving terms of trade, and structural consumption demand outlook albeit somewhat offset by likely consolidation in government deficit," said Ridham Desai, managing director, head of research, Morgan Stanley India in a note.
Former England batsman Kevin Pietersen will not be recalled for this year's World Twenty20 in India, captain Eoin Morgan was quoted on Monday as saying. Pietersen, 35, has not played for England in any format since 2014 but has been in good form recently in club Twenty20 tournaments in Australia and Pakistan. "That door is completely shut, Kevin will not be picked. That's from me," Morgan told the Daily Mail. South African-born Pietersen, a former England captain and member of the side that won the World Twenty20 in 2010, was dropped in 2014. England director of cricket Andrew Strauss explained the decision at the time by saying there was a "massive trust issue" with Pietersen. The pair had fallen out over text messages sent by Pietersen to South African players during a 2012 test series when Strauss was captaining the team.
Half-centuries from Eoin Morgan and Jonathan Trott steered England to a series-levelling victory over South Africa in the third One-Day International.
Financial services firm Morgan Stanley has said its chief executive officer John J Mack is stepping down next year and will be replaced by co-president James Gorman.
England have won nine of their last 12 ODIs and head coach Trevor Bayliss said there was never any doubt Morgan and Hales would return despite deciding not to go to Bangladesh.
The World Cup opener is set to be another barnstorming meeting between two of the favourites -- and a fitting way to start a cricketing feast.
Mahendra Singh Dhoni has played a huge role in getting his players in the Chennai Super King camp to perform and they will miss the talismanic skipper once he hangs up his boots, says former England captain Eoin Morgan.
Eoin Morgan's unbeaten half-century helped England get off to a winning start in the ICC Champions Trophy after an emphatic six-wicket victory against Sri Lanka in the Group B match at the Wanderers in Johannesburg, on Friday. 23-year-old Morgan carried England home with his unbeaten knock of 62 from 83 deliveries, inclusive of seven boundaries, as England recovered after a couple of early wickets to coast to 213 for four in 45 overs.
England's top order crumbled to 20 for six wickets in five overs as they were dismissed for a modest total of 153 before the Proteas cruised to a seven-wicket victory for a consolation triumph after the hosts won the first two matches of the series.
The top executives of American entities Merrill Lynch and Morgan Stanley will forego their yearly bonuses amid the Wall Street executives coming under fire for the ongoing financial turmoil, say media reports.
The allegations against the 80-year-old Oscar winning actor range from inappropriate touching to suggestive comments and were brought by entertainment reporters -- including a CNN reporter who co-wrote the story -- as well as people in the entertainment industry.
What initially started off as a car garage and dealership later went on to become a full-fledged automobile manufacturer.
Stock markets are likely to remain range-bound in this holiday-shortened week amid a lack of any major domestic triggers, analysts said. Stock indices may also face volatility during the week amid the monthly derivatives expiry on Thursday. Equity markets would remain closed on Monday for Christmas.
Nineteen per cent of global fund managers remain bullish on India, suggests the latest BofA Asia Fund Manager Survey (FMS). A total of 249 panelists with $656 billion worth of assets under management (AUM) participated in the survey between February 2 and 8, BofA said. Two hundred and nine participants with $568 billion AUM responded to the global FMS questions, while 145 participants with $331 billion in AUM responded to the regional fund manager survey (FMS) questions, BofA said.
Morgan Stanley's Asia and Global Emerging Markets Strategy Report downgraded software firms on valuation and earnings concerns.
American brokerage Morgan Stanley on Thursday slashed its Sensex target for the next 12 months to 18,200, citing weakening macro fundamentals of the economy.
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