As global investors brace for economic and geopolitical tremors with the US at the epicentre, India is perceived as being among those economies that may benefit from Trump’s presidency, which is expected to see higher trade tariffs and lead to an exacerbation of US-China tensions.
Posts in category Economic Times
On Wall Street, it’s full risk-on; S&P 500 hits new record (07-11-2024)
Wall Street’s “fear gauge” – the VIX – tumbled the most since August to around 16. Trading on stocks spiked, with the S&P 500 volume 110% above the average of the past month.
Exporters could face some heat, focus may shift to India growth story (07-11-2024)
One of the key elements of Trump’s election manifesto was a universal tariff on imports from all countries. Imports from China would, however, face a 60% tariff. Such duties are aimed at discouraging imports and boosting domestic production in the US.
Rupee, EM peers slide with dollar index on victory run (06-11-2024)
In relative terms, however, the rupee’s 0.2% decline through the day was modest in comparison with competing Asian monetary units where the US holds a disproportionate share in their respective merchandise exports. Thai Baht depreciated the most at 1.8%, while the Chinese Yuan slumped 1.2%.
Digital payment’s rise leads to shutting of ATMs (06-11-2024)
Indian banks are shutting down more ATMs despite record-high cash circulation. This trend is attributed to the rise of digital transactions and UPI payments. While cash remains significant, ATM numbers have declined, particularly off-site machines. Industry experts point to bank consolidation and the push for digitalization as key drivers.
Niva Bupa raises Rs 990 crore from anchor investors ahead of IPO (06-11-2024)
Niva Bupa Health Insurance Company secured Rs 990 crore from anchor investors, a day before its IPO launch. The IPO, open from November 7-11, aims to raise Rs 2,200 crore with a price band of Rs 70-74 per share. The company plans to utilize the funds to strengthen its capital base and for general corporate purposes.
Adani Enterprises revises capex guidance for FY25 (06-11-2024)
Adani Enterprises has revised its capital expenditure target for the current fiscal year to ₹67,000 crore from the initial projection of ₹80,000 crore. The company attributes this reduction to an extended monsoon season that disrupted project timelines.
Trump Media shares surge 30% after poll win; quarterly earnings suffers $19.2 million loss (06-11-2024)
Trump Media and Technology Group, the parent company behind Truth Social, reported a $19.2 million loss in the last quarter. The company attributed the loss to legal fees and declining revenue. Despite the financial struggles, the company’s stock surged following Trump’s presidential election victory.
From banks to small-caps, Trump win sparks big rally in stocks (06-11-2024)
His promise to make Tesla CEO Elon Musk head of a government efficiency commission after the billionaire backed Trump throughout his electoral campaign led to a 14.7% surge in the shares of the electric automaker.