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Lenders reject Go First’s pleas for undrawn funds https://ift.tt/tJlWAS6 First has undrawn limits of about Rs 200 crore under the government’s emergency credit line guarantee scheme (ECLGS), which was introduced to support sectors like travel and tourism that were hit hard by the Covid-19 pandemic disruptions, they said. The banks’ decision not to release more money is likely to further delay any chances of the airline resuming operations.

India Inc’s revenue grows in double digits but loses more steam in Q4 https://ift.tt/75nctdX for a sample of 2,863 companies grew by 13.4% year-on-year in the March quarter. After clocking 33.9% growth in the June 2022 quarter, top line growth has slowed down gradually in each of the quarters since then. Net profit rose by 6.5% in the March quarter. While it has improved since the September quarter when profit had fallen by 11.5%, it continued to remain muted. In the year-ago quarter, revenue and profit had grown by 21.7% and 37.2% respectively.

Govt to sell up to 3% in Coal India via OFS https://ift.tt/19ilmFK government has proposed to sell up to 9.24 crore shares representing 1.50% of the total paid-up equity as a base offer with an option to additionally sell 9.24 shares or 1.5% of the company equity in the event of oversubscription.

Sebi moots tough rules to lift FPI veil https://ift.tt/KiNbgxH has to give a finality to the Adani probe, preserve its reputation, change the rules if needed, convince FATF as well as keep alive the interest of FPIs. It can only hope that the price would not be too high.

Spandana founder plans to sell 14.5% stake in company https://ift.tt/fpe5EKA Gangireddy, founder of Spandana Sphoorty Financial, plans to sell a part of her 14.5% share in the firm she left one-and-a-half years ago following a dispute with the majority shareholder Kedaara Capital. With an immediate aim to raise INR1bn ($13m), she intends to invest the sum in her new venture Keertana Finserv and secure a separate NBFC-MFI licence. Gangireddy has engaged an investment banker to strike a block deal to sell a part of the holding.

Agricultural products trade via e-NAM surges 41% in FY23 https://ift.tt/NMbGOK4 products trade through the electronic-National Agriculture Market (e-NAM) surged 41% to 18.6 million tonnes in 2022-23 from 13.2 million tonnes in the previous financial year. "Several innovative products have started trading through these mandis," said a senior official, who did not wish to be identified, adding that several products such as silk cocoons, saffron and bamboo are being sold on the platform.

Sebi mulls mandating additional disclosure for high-risk FPIs https://ift.tt/19ilmFK proposals are designed to prevent circumvention of minimum public shareholding requirements and misuse of the FPI route to guard against risks of an opportunistic takeover. The move follows SEBI's difficulty in identifying the beneficial owners of some foreign portfolio investments in Adani stocks, since the existing regulations are lax in identifying their true ownership.

Adani to raise $3.5 bn from share sale in three group cos https://ift.tt/e9D3NTn may raise $3bn in a share sale to institutional buyers as it looks to make a comeback following a report of accounting fraud and stock price manipulation by a US short seller. Gautam Adani's group may raise up to $1bn through Adani Green Energy alone, with Adani Enterprises and Adani Transmission also approved to raise funds. The fundraising could be completed by the second quarter as the group seeks to fund expansion projects. Investors from Europe and the Middle East are said to have expressed strong interest.

ETMarkets Fund Manager Talk: Volume growth can make for potential hit to MF industry profits on fee cap: Mahindra Manulife https://ift.tt/19ilmFK industry has seen unprecedented growth since the end of the financial crisis in 2008, and we have witnessed almost 10x growth in AUM since that point.

ETMarkets Management Talk: Choice International aims over 30-40% annual growth over next 2-3 years: Kamal Poddar https://ift.tt/HyA089m revenue growth in FY23 can be attributed to two key business verticals: Broking services and B2G advisory services. Notably, we have witnessed a significant increase of nearly 50% in the number of demat accounts opened with us during the year.

India's growth momentum may continue in FY24: RBI https://ift.tt/FGY8vAX is already moderating and the external account is sound, the Reserve Bank of India (RBI) said, but the El Nino and its adverse impact on rainfall remain potential threats to macroeconomic stability and food prices. Furthermore, moderating global growth, protracted geopolitical tensions and a possible upsurge in financial market volatility, evident in the implosion of many regional US banks, pose downside risks.

Suzlon Energy Q4 Results: Firm posts net profit of Rs 320 crore against Rs 205.52 crore loss YoY https://ift.tt/9Qe6i2s energy solutions provider Suzlon Energy reported a consolidated net profit of INR320 crore ($42.5m) for the quarter ended 31 March. This contrasts with the same period in 2022 when it posted a net loss of INR205.52 crore ($27.4m). Total income for Q4 was INR1700 crore ($226m), a decrease from INR2478 crore ($329m) in 2022.

Putin says Ukraine drone strikes on Moscow aim to scare and provoke Russia https://ift.tt/A1kcbJ2 said eight drones targeted civilian areas of Moscow and the Moscow region - with a population of over 21 million - in the early hours of Tuesday but were either shot down or diverted with special electronic jammers. Putin cast the assault, which brought the 15-month war in Ukraine to the heart of Russia, as a terrorist response that came after Russia struck at Ukraine's military intelligence headquarters several days ago.

These 5 commodity stocks hit a new 52-week high. Do you own any? https://ift.tt/EuqvehM

Here's why Chris Wood is positive on Indian markets https://ift.tt/rPmEuhs investors have started to buy India back, partly because they are coming to India and realising the story is intact, two, because they are surprised by the resilience of the market and three, because they have started selling China again.

Political stability helping drive investments to India: Chip Bergh, CEO, Levi Strauss https://ift.tt/knjMLie Strauss & Co.'s CEO, Chip Bergh, has praised India's political stability as a driver of consumer demand and foreign investment. Bergh attributes the high degree of consumer optimism in India to a perception of political stability, creating an environment where investments feel safe.

ICICI Bank to raise stake in ICICI Lombard https://ift.tt/3SsN4dO a disclosure filed with the stock exchanges on March 10, ICICI Bank had said that it had received an extension from the Reserve Bank of India (RBI) for divesting its shareholding in ICICI Lombard General Insurance Company Limited.

Japan PM Kishida's son to resign as secretary after 'inappropriate' behaviour, Kishida says https://ift.tt/kvtCKal told reporters that Shotaro Kishida would step down as his secretary from Thursday, saying the change was due to "inappropriate" behaviour at the official residence. A magazine last week published photos of the younger Kishida and relatives apparently pretending to hold a news conference at the official residence, including the podium where the prime minister usually stands.

Reliance Capital Q4 Results: Net loss narrows to Rs 1,488 crore https://ift.tt/cLsIKqM constituent of debt-laden Reliance Group had reported a consolidated net loss of Rs 4,249 crore in Q4FY22. Its total consolidated income decreased to Rs 4,436 crore from Rs 4,770 crore YoY.

These 10 financial services stocks record new 52-week highs https://ift.tt/ZdvF1Kl

Angel Tax on multinational companies may bedevil FDI https://ift.tt/cLsIKqM government provided a blanket exemption from angel tax to various structures such as pension and sovereign wealth funds, among others investing in India from 21 countries, but corporate entities were left out, making them potentially liable to the levy.

For bond trading, foreign banks ready locally-compliant structures https://ift.tt/bOEc7qT banks likely to be affected by the impasse between the European Securities and Markets Authority (ESMA) and the Reserve Bank of India (RBI) may bypass the contentious overseas regulations by holding less than half of the domestic entity, sources close to the development said.

Wall Street irked by frantic push to solve EM sovereign debt crises https://ift.tt/RxjpeLb government defaults rise to a record in the developing world, the debate is growing frantic over how to solve these debt crises. Restructuring talks are stalling, with some countries turning to old-school sweeteners and others calling to revamp the G20's Common Framework.

Traders gear up for riskier assets https://ift.tt/cLsIKqM US dollar, which has benefited from angst around the statutory borrowing limit, will be in focus as another week of trading begins at 5 a.m. Monday in Sydney. Liquidity is set to be thin with US and UK markets closed Monday for national holidays, although futures contracts referencing US Treasuries and the S&P 500 Index will trade.

NRIs' rupee, forex deposits bolstered reserves in FY23 https://ift.tt/cLsIKqM Reserve Bank of India's decision to exempt cash reserve ratio and statutory liquidity ratio on fresh inflows through NRI deposit schemes, and relax the interest rate cap, has led to a surge in foreign currency non-resident (bank) or FCNR (B) deposits. Fresh inflows through various NRI deposit schemes more-than-doubled to $7.9bn in FY23 from $3.2bn in FY22, while net inflows for FCNR (B) deposits were $2.4bn compared to outflows of $3.5bn in the previous year.

Banks’ provisioning for NPAs falls for fifth quarter in a row in Q4 https://ift.tt/iDsY71K in India saw a fall in loan loss provisioning for the fifth consecutive period, indicating improving asset quality and sustained collection efficiency. Cumulative bad loan provisioning declined by 42.5% to Rs 18,354.4 crore, the lowest since March 2019 quarter, indicating an overall improvement in the country's banking system.

Netflix puts an end to password-sharing for subscribers in US https://ift.tt/cLsIKqM news was not a surprise. More than a year ago, in April 2022, the company announced its first subscriber loss in 10 years, attributing the decline, in part, to shifting economic forces as well as increased competition from other streaming services.

Tax collection in India one of the highest, reduce direct tax to 25 pc from 40 pc: Surjit Bhalla https://ifttt.com/images/no_image_card.png"We are a much more globalised economy in the world and the world is a lot more globalised. If you look at the overall tax rate structure in India, collection of taxes is one of the highest in the world and we are not the richest economy of the world," Bhalla said. He said that tax collection by state, Centre and local bodies is around 19 per cent of India's GDP.

IPL-flavoured portfolio: Index fund for test match, stock baskets for T20 and ODI, says Abhishek Banerjee https://ift.tt/P8JIfjl managers draw analogies between cricket and investing. Abhishek Banerjee, smallcase manager and CEO of Lotusdew, compares RBI's management of inflation to India's 1983 Cricket World Cup win. Banerjee says he picks pinch-hitters like a captain selects strategies for a cricket match. He believes it's necessary to have all types of players, like heavy hitters and good fielders in a cricket team, for a successful investment portfolio. Banerjee sees an index fund as playing a Test match and a stock basket for T20 and One Day matches in investment strategies.

Cabinet secretary-led panel to interview five candidates for RBI deputy governor's post on June 1 https://ift.tt/wlT7p1Q to sources, five candidates have been shortlisted, including a non-executive chairman of a public sector bank. The Financial Sector Regulatory Appointment Search Committee (FSRASC) headed by Cabinet Secretary would interview candidates in Delhi, the sources said.

Yellen's debt limit warnings went unheeded, leaving her to face fallout https://ifttt.com/images/no_image_card.png"I always worry about the debt ceiling," Yellen told The New York Times in an interview, in which she urged Democrats to use their remaining time in control of Washington to lift the debt limit beyond the 2024 elections. "Any way that Congress can find to get it done, I'm all for." Democrats did not heed Yellen's advice

Climate change will speed up inflation in next decade, says ECB https://ift.tt/l8U9Fe6 temperatures will boost annual food inflation by between 0.92 and a hefty 3.23 percentage points, the research paper found. While the so-called global south, where temperatures are hotter, should face more of the pain, it will also mean particular challenges for economic blocs such as the European Union.

Influencer dies after live-streaming himself drinking bottles of Chinese spirit https://ift.tt/fGJ0N4o influencer "Sanqiange" (or "Brother Three Thousand") was found dead mere hours after streaming himself participating in a competition with another influencer that involved drinking Baijiu, a Chinese liquor with a normal alcohol level of 30 per cent to 60 per cent, CNN reported citing Shangyou News.

Nord Stream sabotage clues point to Ukraine: reports https://ift.tt/BgV6p9W from the emails used to rent a sailboat suspected to have been used in the attack tie them to Ukraine, Spiegel weekly reported Friday. The president of the presumed shell company through which the "Andromeda" yacht was hired also lives in Kyiv, according to research by broadcasters NDR and WDR, daily Sueddeutsche Zeitung and international media partners.

Does LIC's multifold jump in Q4 profit make it a buy? What brokerages say https://ift.tt/g5R0j9D Insurance Corporation of India (LIC) has reported a standalone net profit of Rs 13,428 crore for Q4 FY23, a 466% increase YoY, prompting brokerages including Motilal Oswal, Axis Capital and JM Financial to recommend "Buy" on the stock, while Emkay has maintained its "Hold" rating. LIC's net premium income fell 8% to Rs 1.31 lakh crore during the March quarter, compared to last year. The company's first-year premium for the period totalled Rs 12,811 crore, down 12% YoY. Its net commission rose 5% to Rs 8,428 crore, while the full-year profit fell 10% to Rs 36,397 crore.

Chart Check: With 24% rise in a month, this hospital stock hits fresh record high; time to buy or book profits? https://ift.tt/081cIwY suggest that Max Healthcare's recent rally may not be over, despite failing to maintain a fresh record high. Traders could buy the stock at present or on dips towards Rs 450-500 with a potential target of Rs 750-1,000 in the next six months, they say. On the weekly charts, the stock broke out from a trendline and has been making higher highs and higher lows for the past five weeks. Although some consolidation could occur as it trades around overbought levels, the Relative Strength Index is 78.2 and the MACD is bullish.

India challenges WTO panel ruling on ICT import duties at appellate body https://ift.tt/UTsNbq2 dispute panel of WTO on April 17 said in its report that import duties imposed by India on certain information and technology products violate global trading norms.

Hot Stocks: Global brokerages on Cummins India, Phoenix Mills and Page Industries https://ift.tt/BPkCaNO Sachs maintained a neutral rating on Cummins India, whereas Credit Suisse maintained an outperform rating on the company. CLSA has a buy rating on Phoenix Mills, and Morgan Stanley maintained an overweight rating on Page Industries with concerns over the company’s weaker Q4 performance. While Cummins India's prospects are tied to internal combustion engines, Phoenix Mills is seen as a strong play on discretionary consumption demand, and Page Industries expects margin recovery to lead to revenue growth.

ETMarkets Smart Talk: We expect Indian equities to deliver 12-13% returns in next 12 months: Naveen Kulkarni https://ift.tt/2VhjLHN, markets are well poised to deliver healthy returns as the earnings growth trajectory continues to remain strong, and equity markets will see healthy double-digit returns.

India's economy grew faster at 5.1% in Q4: Economists https://ift.tt/Zrln9BH ET poll of 20 economists pegged growth in the January-March period in the 4.1-5.7% range with the median at 5.1%, higher than the 4.4% recorded in the preceding quarter.

IPL-flavoured portfolio: Diversify stocks like a well-balanced team, says Ashwini Shami https://ift.tt/dpz9XQ3 way the market bounced back after the covid-19 crash in 2020 was a historic victory for the market participants who held onto their nerves and faced extreme uncertainties including end of the world kind of scenarios.

At multi-year highs: ITC among 6 stocks that gave 5-year breakouts https://ift.tt/tLdW4FD the NSE list of stocks with a market cap of over Rs 10,000 crore, six stocks crossed their previous 5-year high value at the close on May 24, suggesting bullishness in counters, according to stockedge.com's technical scan data. Take a look.

Big movers on D-Street: What should investors do with Mahindra CIE Automotive, Elgi and Dixon? https://ift.tt/6CI3SUr markets ended lower on Wednesday, led by selling in metal and financial stocks. Analysts said that without clear cues from global markets, participants are hesitant to make big moves. However, several individual stocks outperformed, including Mahindra CIE Automotive, Dixon, and Elgi. Technical analyst Rohan Shah recommends buying all three stocks. Elgi is expected to continue upward momentum towards 625 levels in the short term and possibly hit 700 levels in the medium term. For Mahindra CIE Automotive, the support comes near 435 while the level of 540 is anticipated to act as resistance on the higher side. Dixon has broken out of the symmetrical triangle pattern with high volumes and is expected to do well going forward.

Poonawalla Fincorp trumps Federal Bank in market valuation https://ift.tt/2yTcw7x Poonawalla-led Poonawalla Fincorp closed at ₹348.15 apiece on the BSE on Wednesday, up 0.61% from the previous close. Shares of Kochi-based Federal Bank closed at ₹123.85, down 1.43% from the previous close.

LIC net surges over 6-fold in Q4; declares Rs 3 dividend https://ift.tt/0VgNd8G company had reported profit of ₹2,371 crore in the corresponding quarter in the previous year. The board has proposed a dividend of ₹3 per equity share (face value ₹10 each) for the FY 2022-23, resulting in dividend payout of ₹1,897 crore.

Dish TV's minority shareholders reach out to MCA on EGM delay https://ift.tt/0VgNd8G association, which represents 77 domestic and foreign institutional investors who collectively own 10.15% of the DTH company, had on May 15 written to the Dish TV board to convene an EGM within the stipulated 21 days. It also called upon the ministry to initiate "stringent" measures against Dish TV directors for their multiple alleged violations of the Companies Act.

How companies can protect themselves from cyber attacks? Saket Modi answers https://ift.tt/tLdW4FD today's day and age, you have businesses which are reinventing themselves with technology as the heart and soul of what they are doing irrespective of the industry you are in.

ETMarkets Fund Manager Talk: This smallcase manager is betting on infra, capital goods, while shying away from IT https://ift.tt/0VgNd8G Indian equity market's sharp rally since April, buoyed by solid corporate earnings, favorable global cues, and falling bond yields, has turned heads. This rally has been quite exciting and high momentum stocks have flourished.

Oil prices rise on concerns over tightening supply https://ift.tt/dxN5l18 prices rose as U.S. oil and fuel inventories reduced causing speculation over further OPEC+ output cuts. Industry data revealed a decline of 6.8 million barrels in crude inventories in the week to May 19 along with 6.4 million drop in gasoline inventories. Distillate inventories were down 1.8 million. Confirmation of these figures in data from the Energy Information Administration would mean a third straight weekly decline in U.S. gasoline inventories to the lowest levels since 2014 pre-Memorial Day. OPEC+ production cuts are set to take effect this month. However, some investors remain cautious about US debt ceiling discussions.

At Rs 10,000 crore, Anil Ambani's Reliance Capital recovery may be only 43% https://ifttt.com/images/no_image_card.png​​The recovery, totalling about ₹10,090 crore on factoring in the target company's cash balances and the Hinduja offer, falls short of the ₹12,500-13,000 crore estimated liquidation value.

CreditAccess’ growth plans to keep Street hooked onto stock https://ift.tt/huPCf0H lender reported a sustained momentum in borrower additions. In the fourth quarter of FY23, it added nearly 5.5 lakh customers compared with over three lakh in the third quarter and 92,642 crore in the first quarter.

ETMarkets Smart Talk: Rs 30,000 cr in 2 months! Growth potential brings back FIIs to Indian markets: Mayank Mehraa https://ift.tt/MDrKFNd The Indian stock market has been on a tear in recent months, despite a number of negative news flows, such as the crisis in Europe, rising inflation, and concerns about a global economic slowdown.

Dollar hits 6-mth high versus yen on higher-for-longer US rate expectations https://ift.tt/huPCf0H US dollar reached a six-month high against the yen as several Fed officials suggested that monetary policy may need further tightening. Minneapolis Fed President Neel Kashkari said the US rate may need to be 6% for inflation to achieve the 2% target, while the St. Louis Fed President James Bullard said the bank may need to increase it half a point this year. Meanwhile, the debt ceiling deadline prompted concern over the situation and boosted the US dollar's safe-haven status.

Sebi, RoC to now probe alleged wrongdoings at PTC India Fin https://ift.tt/5i69efH the notes accompanying the company's annual results, Delhi-based auditors Lodha & Co said the company has received four show cause notices (SCNs) from the RoC and also one from Sebi in the quarter ended March on corporate governance issues raised by independent directors who resigned on January 19, 2022, and December 2, 2022.

‘Inflation vanquished’, long-term fundraise faces no constraints https://ift.tt/5i69efH the near term, however, the yield movement reflects consensus expectations of slower growth in 2023-24 relative to a year ago. The central bank expects real GDP growth to moderate to 6.5% in 2023-24 from 7% in 2022-23.

Cotton prices take a knock as farmers offload stocks https://ift.tt/hZa8fuV daily arrival of cotton in the markets has increased fivefold to 100,000 bales (each weighing 170 kg) from the historical average of 20,000 bales a day in May.

Odisha to provide free crop insurance to farmers for 3 years https://ifttt.com/images/no_image_card.png"The Cooperation Department would bear the premium of the insurance from the 2023 Kharif season to the 2025-26 Rabi season. Odisha is the first state in the country to provide free crop insurance to farmers," Naveen Patnaik said.

Borrowing rates for govt, companies to decline following withdrawal of Rs 2000 notes. Here's why https://ift.tt/hZa8fuV removal of India's ₹2,000 banknotes from circulation is expected to increase liquidity in the nation's banking system and result in a decline in borrowing rates for government and corporate entities. The Reserve Bank of India said there is around INR3.62tn ($49bn) worth of the banknotes in circulation as of the end of next March.

Fin institutions meeting company managements raises interest in these midcap stocks https://ift.tt/mRyGv3T meets are considered a soft indicator of their interest in the stocks, and in many cases in the past, institutional holding rose in those stocks post the meetings.

Biden unveils new $375 million U.S. military aid package for Ukraine https://ift.tt/sSnQFAM with the Ukrainian leader on the sidelines of the G7 summit of world leaders in Hiroshima, Japan, Biden said the military aid package included ammunition, artillery, armored vehicles and training. "Together with the entire G7, we have Ukraine's back and I promise we're not going anywhere," Biden told Zelenskiy.

Why the stock market keeps rallying, defying doom scenarios https://ift.tt/28OTHzY persistent bearishness towards equities could be fuelling a market rally in stocks, as investors who bet against the market are forced to unwind their positions. Despite the S&P 500's 17% rally since October, sentiment among money managers remains low, and their cyclical holdings are at their lowest level since October, according to Goldman Sachs. Hedge funds are sticking to their guns by betting on safe stocks such as technology and shedding their investments in banks and economically sensitive shares. However, even the hint of good news, such as progress towards debt-ceiling talks, has the power to spark a market rally.

ETMarkets Smart Talk: How to trade Zomato shares on Monday after Q4 results https://ift.tt/qEw0Q7g shares will be watched closely as the foodtech company's losses narrowed in Q4 to Rs 188 crore. The stock's support levels are around Rs 58-55, while resistance lies at Rs 75-80, according to Sumeet Bagadia, executive director of Choice Broking. He adds that short-term prospects of the stock may appeal to risk-taking investors. Meanwhile, M&M could move towards Rs 1,325 if it surpasses its resistance at Rs 1,285.

Six entities under lens for suspicious trading in Adani shares: SC panel https://ift.tt/28OTHzY Supreme Court-appointed expert committee investigating Adani Group's shares trading prior to the Hindenburg report's release found no evidence of price manipulation by firms linked to the group. However, the committee has identified six entities, including four FPIs, for suspicious trading, with a build-up of short positions in the Adani Group shares before the release of the negative report. The committee found substantial profits were booked as Adani shares crashed after the report's publication, and further investigations are being carried out in respect of the trading of the identified entities.

Will RBI’s Rs 2,000 note withdrawal impact D-Street traders? Here’s expert view https://ift.tt/28OTHzY withdrawal of the INR2,000 currency notes is not expected to affect India's economy, according to analysts. The Reserve Bank of India has decided to stop the circulation of the denomination notes by the end of September, but stressed they will still be legally valid tender. As the cumulative value of the notes in circulation has declined over the years, experts believe that the decision will have a minimal economic impact, particularly as government and banking initiatives have prioritised digital payments infrastructure. Banks though may benefit from better deposit rates in the short term.

How rule-based strategies can help you from FOMO, revenge trading https://ift.tt/GKDEk5e trading is a mechanism that enables traders to overcome behavioural biases and emotional inclinations. It involves setting a written set of rules from start to end, which define which stocks to enter, when to enter, how much money to place, and when to exit. Once these rules are defined, the trader only has to wait for the target to be achieved or until the stop loss is hit. This approach is suitable for every type of trader, and the selection of rule-based strategies depends greatly on experience and temperament. The frontline index remained bearish on a weekly closing basis at 18,203 levels with a 0.61% fall.

Rs 2000 note withdrawal will not affect common man: Ex-CEA Krishnamurthy Subramanian https://ift.tt/VPLjUyO Chief Economic Advisor Krishnamurthy Subramanian believes that the Reserve Bank of India's withdrawal of the Rs 2,000 note "will not affect the common man of the society." The former CEA claims that the cash in circulation of the 2000 notes is only 10% and that most common people opt for digital transactions. Digital money is being used in every part of the country, making things easier for everyone involved, he said. According to a report from BCG, digital transactions worth up to $3tn are expected by 2026.

Joe Biden says he won't accept 'extreme' Republican demands on US debt https://ift.tt/JbqswWP the Treasury Department warning that the US government could run out of money as early as June 1 -- triggering massive economic disruption in the world's biggest economy and likely around the globe -- the political battle in Washington has see-sawed without any clear sign of resolution. Republicans, who control the House of Representatives, are demanding steep budget cuts as a price for allowing an extension of the government's borrowing authority.

Wall St Week Ahead: Artificial intelligence gives real boost to U.S. stock market https://ift.tt/Ek8OpWf intelligence (AI) is boosting the US stock market, with megacap stocks such as Microsoft, Google parent Alphabet, Nvidia, Apple and Meta platforms responsible for the majority of the S&P 500's 9% year-to-date return. About 25% to 50% of the gains are due to optimism around AI, according to DataTrek Research. Societe Generale has predicted removing the top 20 stocks linked with AI from the S&P 500 would reduce the index's performance by 10%. Analysts view AI as a major driver of future productivity and profit, citing generative AI as producing margin-expanding productivity gains.

Investors still pouring into cash, but pace slows: BofA https://ift.tt/MPwrhtd are showing greater confidence in the market, causing them to slow down inflows into cash funds, according to a BofA report. A total of $25.1bn went into cash in the past week, but only $151bn has gone into money market funds in the past four weeks compared to $404bn after the collapse of Silicon Valley Bank. The report also showed U.S. Treasuries clocking up 14 weeks of inflows. Investors preferred investment grade bonds to high yield bonds and invested $1.1bn into tech stocks but pulled $700 million from financial funds.

Golden Crossovers: These 4 stocks signal bullishness https://ift.tt/IKUA135 Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside.

We expect ROA of more than 1% and ROE of over 19% for next financial year: Dinesh Kumar Khara, SBI https://ift.tt/8eCDoNW ROA of 0.96 is for the year. If we look at the ROA for this quarter, it would be somewhere around 1.26 or 1.28. And ROE, of course, is 19.68. So, I think for last three quarters, we have been consistently maintaining ROA of more than 1%. And only in the first quarter, since we had the MTM losses of Rs 7,000 crore, we have got a ROA of 0.96 at the full financial year.

UK to ban Russian diamonds at G7 in fresh round of sanctions https://ift.tt/WKeJvdS is also targeting an additional 86 people and companies from Russian President Vladimir Putin's military industrial complex, in addition those involved in energy, metals and shipping industries. They include those supporting the Kremlin to actively undermine the impact of existing sanctions, as Britain continues to work with G7 partners to tackle all forms of sanctions circumvention, the government said.

Jindal Stainless eyes 20% sales growth from rail projects, higher exports: MD https://ift.tt/vQfml1u government's removal of export duty on steel products will also help the company expand sales, said Abhyuday Jindal. The Centre had levied an export duty on most steel products briefly last year in a bid to arrest domestic inflation. The duty, which hurt the steel industry's export business, was scrapped in November.

ETMarkets Smart Talk: Policy reforms and infra spending will pick up if Modi govt is back to power in 2024: Rajesh Kumar Jain https://ift.tt/kfFKl0L US & Europe which is 42% of the Global GDP and if they would go through a recession in this year as projected by most of analysts, then somewhere the growth across the globe will take a back seat.

AWS to invest $12.7 billion in India till 2030 https://ift.tt/N7Kj0dI remains a “bright spot” amid a period of unprecedented global uncertainty, where businesses are increasingly turning conservative, according to CEO Selipsky.

HDB Fin stock surges on clean-up of bad loans https://ifttt.com/images/no_image_card.png"As the lender cleans up its books and brings its stage 3 assets under control, I feel we will see demand for this scrip," said Rahul Thalia, director of Sarffin Financial Advisors. "Already valuations have risen in the past two months, though we are seeing demand for this scrip settle at ₹630 apiece at the moment."

Debt ceiling issue a concern beyond the US, local indices decline further https://ift.tt/kfFKl0L Sensex ended at 61,560.64, down 371.83 points or 0.6% from the previous close. The Nifty declined 104.75 points or 0.57% to end at 18,181.75. Short covering in the later part of the day helped both the indices recoup some of their losses after falling nearly 1% earlier in the session.

Mood turns risk-off, rupee slips to 82.39 https://ift.tt/WRrfMl3 of more US rate hikes following comments to that effect by members of the Federal Reserve also contributed to mounting robustness in the dollar index, exacerbating the pressure on the rupee.

Exports unlikely to be impacted by EU deforestation law https://ift.tt/kfFKl0L legislation seeks to prohibit products such as palm oil, coffee, cattle, cocoa, rubber, soya, timber, printing paper and derived products in the EU, that came from land that was deforested after December 31, 2020. The rules cover imports and domestic production.

Woman sues Rudy Giuliani, saying he coerced her into sex, owes her $2 million in unpaid wages https://ift.tt/NW5Llkq Dunphy said in the lawsuit that she was Giuliani's business development director and public relations consultant from 2019 to 2021. She initially made her allegations public in January, but she detailed her claims further in a 70-page legal complaint filed Monday in New York.

US may default on debt as soon as June 1, Treasury Secy Yellen reaffirms https://ifttt.com/images/no_image_card.png"With additional information now available, I am writing to note that we still estimate that Treasury will likely no longer be able to satisfy all of the government's obligations if Congress has not acted to raise or suspend the debt limit by early June, and potentially as early as June 1," Yellen wrote to House Speaker Kevin McCarthy.

Panel may ready new list of public sector banks for privatisation https://ift.tt/kdgNho2 may set up a panel to identify public sector banks that can be privatized, including mid- and small-sized ones. The move comes after state-owned lenders turned profitable and several rounds of consolidation reduced the number of banks. The committee, which may include officials from the Department of Investment and Public Asset Management, the RBI and Niti Aayog, will determine quantum of stake sale.

Tata Motors back in top gear with improving cash flows and rising sales volume https://ift.tt/Zk1stoq Motors' stock rose by nearly 3% after a strong performance in the March 2023 quarter, thanks to the continuing growth in Jaguar Land Rover (JLR) volume, higher revenue visibility in the domestic electric vehicle segment, and reduced debt burden. JLR's EBITDA margin increased to 14.6% and saw a 19% growth in volume reaching 95,000 units in Q3.

PSU banks raising stakes in interest rate derivatives to diversify risk management https://ift.tt/mlxgrSw establishment of a derivatives trading platform by the Clearing Corporation of India (CCIL) in 2015 has played a large role in bringing hitherto reluctant public sector banks into the trading fold for derivatives. A broad push towards defter management of interest rate risk too contributed.

Nifty crossing 18,400 puts 18,800 in sight: Analysts https://ift.tt/KjXSP1e throwbacks toward 17,800-17,900 levels could present better re-entry opportunities and improved risk-reward setups. At the same time, only a follow-through above the resistance can take the index toward all-time highs. Bank Nifty is near its lifetime highs and might face psychological resistance at the 44,000 mark. We are in a secular uptrend, and any dips can be used as incremental buying opportunities.

Rumble in Karnataka brings jitters to Dalal Street https://ifttt.com/images/no_image_card.png"Our markets may react negatively and if the markets need an excuse to fall, it will take cues from the Karnataka state polls," said Andrew Holland, CEO of Avendus Capital Alternate Strategies.

Regulating fractional ownership in realty to draw capital https://ift.tt/mlxgrSw regulation will support in boosting the investors’ confidence and thereby help widen the acceptance to the newly emerging investment asset class. The move is also expected to support realty developers bringing in the much-needed liquidity as they can opt for one more channel to monetise their assets.

Stock traders stay calm about US being on cusp of default https://ift.tt/noDLhqA no mistake, the risk is real. Treasury Secretary Janet Yellen said Friday that the US will "have to default on some obligation" if Congress doesn't raise debt limit. It's just equity investors don't seem to care.

India a priority market in Asia for Mubadala: Khaled Abdulla Al Qubaisi https://ift.tt/SEdFH0y the total Investments by Mubadala till date, Real Estate and Infrastructure Investments portfolio stands at $1.6 billion. This includes a $1.2 billion investment in Jio Platforms and investments in Tata Power Renewables and Cube Highways' infrastructure investment trust.

How Sebi's new rules can impact the future of discount broking in India https://ift.tt/m3AJrRl stockbroking industry is shifting towards online trading platforms and discount brokers thanks to lower costs. Despite the disruption of traditional brokers by discount brokers, the former still offer comprehensive services, including trading in stocks, commodities, currency, asset management and retirement planning. Regulatory changes from the Securities and Exchange Board of India will increase compliance costs for discount brokers, but lead to increased demand for traditional brokers who provide advisory services. Separating advisory from broking business ensures the industry is fair, ethical and transparent, allowing it to continue to evolve and innovate.