The Indian rupee logged its strongest one-day gain since June on Monday, aided by dollar inflows related to the rebalancing of MSCI’s global equity indexes, alongside softness in the dollar and lower U.S. bond yields.
Posts in category Economic Times
Growth momentum pickup in midcaps much stronger: Ankur Rudra, JP Morgan (25-11-2024)
Ankur Rudra of JPMorgan discusses the Indian IT sector. The sector faces headwinds from the US presidential election and a potential US slowdown. AI adoption is slow, and cloud migration remains incomplete. Visa restrictions are a concern, but Indian IT firms are better prepared now. Midcap IT companies are outperforming larger firms. Financial services and high-tech are driving growth.
SBI well poised to deliver on growth and profitability, says Kotak Equities; sees 15% upside (25-11-2024)
The bank anticipates minimal risk of slippages or credit costs in the near term, with strong performance across portfolios. Its cautious approach has addressed concerns about the personal loan segment, which has met expectations, and it aims to sustain low credit costs going forward.
These 12 stocks held by smallcap MFs surge 50-265% in CY24 (25-11-2024)
Here are 12 smallcap stocks held by at least 10 smallcap mutual funds that have shown impressive growth of 50-265% in CY24. These stocks have outperformed the broader market and could be potential investment opportunities for investors seeking growth. Small-cap funds invest at least 65% of their corpus in smaller companies.
TotalEnergies says it will make no new financial contribution to Adani Group investments (25-11-2024)
TotalEnergies SE said on Monday that it will not make any new financial contribution as part of its investments into the Adani group of companies amid a U.S. federal indictment against the head of the company and his nephew.
NSE, BSE face profit risk from proposal for clearing firms (25-11-2024)
India’s stock exchanges, NSE and BSE, may face profit declines if the SEBI implements proposed clearing house ownership changes. The regulator suggests diversifying ownership for market stability, impacting bourse earnings. Two options are proposed: a 100% sell-down or a phased reduction to 15% ownership. This adds to revenue pressures from stricter derivatives trading rules.
Emkay cuts Nifty target to 25,000 but says earnings downgrades not alarming (25-11-2024)
Despite the 10% correction in the Nifty benchmark index since September 27, Emkay anticipates markets to remain steady in the near term. The firm maintains an overweight position on IT and energy sectors while underweighting financials and staples, consistent with its sectoral preferences.
Adani Group’s debt-to-EBITDA hits 2.46x in H1 FY25, backed by Rs 53,024 crore reserves (25-11-2024)
The Adani Group reported a rise in its net debt-to-EBITDA ratio to 2.46 times for the first half of fiscal 2025, exceeding its guidance range of 3.5-4.5 times. This reflects the group’s ambitious growth, offset by increased leverage. Despite this, the group maintains strong liquidity, with cash reserves of Rs 53,024 crore, sufficient to cover 28 months of debt repayments. The debt-to-EBITDA ratio increased from 2.19 times in FY24 to 2.46 times in September 2024.
STOXX 600 hits two-week high; UniCredit, Commerzank drop (25-11-2024)
European stocks hit a two-week high, propelled by Trump’s Treasury pick and the ECB’s easing stance. UniCredit’s bid for Banco BPM stirred activity, while Anglo American’s coal mine sale boosted its shares. Wall Street futures climbed amid falling Treasury yields.
Dev Information Technology announces stock split, stock surges 16% (25-11-2024)
The board of microcap stock Dev Information Technology approved the subdivision of its shares on Monday, leading to a 16% surge in its share price, reaching a 52-week high of Rs 185 on the BSE.