INTERVIEW
MC Interview | Rupee may be down to 81 to a dollar by the end of this year: Vivek Kumar of QuantEco Research
Allowing global trade settlement in rupees is the first major step on the long road of internationalising the currency, but there is unlikely to be any near-term impact on the current account deficit, Kumar said
BUSINESS
Rupee hits fresh record low for 4th straight session
At 9.20am, the rupee was trading at life low of 79.77, down 0.17% from its previous close of 79.64.
BUSINESS
10 year bond yield falls four basis points as inflation cools off a bit
At 9.22am, the 10 year bond yield was trading at 7.36% versus its previous close of 7.395%. Bond yield and prices move in opposite directions.
IPO
Gurugram-based property developer Signature Global India files draft papers for Rs 1,000 crore IPO
Proceeds worth Rs 330 crore from the issue will be used to repay debt of the firm. As of May, Signature Global's total debt stood at Rs 537.96 crore.
BUSINESS
Autos are back in favour among analysts; defensives see downgrades
Moneycontrol Analysts’ Call Tracker June 2022 reveals underperforming stocks of the past year inching back in favour
BUSINESS
It's going to be a mixed bag of first-quarter earnings for investors
Given the mixed performance expected by companies for Q1 of FY23, analysts have slashed earnings per share estimates
INTERVIEW
MC Interview | Bank of Baroda’s chief economist on recent RBI measures
"The measures invoked by the RBI on the capital account have the potential to increase foreign inflows and strengthen the balance of payments. The amounts have to be large to counter the current account deficit which will in turn stabilise the rupee."
INDIA
Sinking commodity prices deflate earnings hope as metal firms hurt
The imposition of hefty export duties on steel will lead to a decline in realisations for steel companies that have resorted to exports in the past few years, experts say
EARNINGS
Sensex, Nifty decline 5% in June alone, steepest in 27 months, as FIIs flee Indian equities
In June, Sensex and Nifty lost 4.9 percent each, its steepest fall since March 2020. Both the indices hovered near one-year lows. The rupee at the same time lost 1.8% and the 10-year bond yields stayed flat
COMPANIES-2
Buybacks likely to slow down as market uncertainty continues
Companies would rather hold cash to fund working capital requirements or potential acquisition opportunities.
EARNINGS
Wipro and IT shares lose charm, but banks are courting investors
Since the start of 2020, Covid-led disruptions had been a blessing in disguise for IT and consumer goods stocks, spurring increased adoption of digital technology and demand for consumer products. Such demand has slackened
IPO
Officer's Choice whisky maker Allied Blenders files papers for Rs 2,000-crore IPO
The IPO will consist of a fresh issue of Rs 1,000 crore and an offer for sale of shares worth up to Rs 1,000 crore by promoters and shareholders
COMPANIES-2
Past is no guide for traders looking to manoeuvre around US Fed rate hikes
The current quantum and pace of rate hikes is unprecedented. This could have far-reaching repercussions on the global economy, experts say.
BUSINESS
Rupee continues to tumble, BofA now sees it at 81 to a dollar by December
This year, the Indian currency has already declined 5% due to continuous dollar outflows from local markets. Foreign investors have sold equities worth around $27.22 billion, so far, this year
BUSINESS
Bear Market Woes: 83% of Nifty 500 stocks give negative returns in 2022
While the Nifty 500 lost 12 percent, the BSE Sensex and Nifty 50 have declined nearly 9 percent each. However, long-term investors are viewing this as an opportunity to buy good growth stocks at attractive valuations.
BUSINESS
Consumer durable stocks slide on falling demand, slowdown fears
The BSE consumer durables index has fallen more than 11% in the last 15 sessions and analysts expect the pain to continue
BUSINESS
Domestic institutional investors pump record Rs 2 trillion into equity market so far this year
Investors have been taking advantage of the correction in the market; also DIIs have been net buyers for 16 consecutive months even as FIIs have been net sellers.
MARKETS
Rupee hits fresh record low, weakens past 78 a dollar on global equity slump, inflation worries
FII's sold $23.87 billion in domestic equities so far this year amid higher crude that continues to stock worries about higher inflation and fiscal deficit.
IPO
Rustomjee group firm Keystone Realtors files IPO papers to raise Rs 850 crore
Keystone Realtors IPO | The issue comprises a fresh issue of Rs 700 crore and an offer for sale of upto Rs 150 crore by its existing shareholders and promoters.
BUSINESS
Rupee hits fresh low against dollar as FIIs continue selling
The currency opened at 77.75 and touched a fresh record low of 77.8075 a dollar. At 12.32 pm, it was trading at 77.80 a dollar, down 0.08% from its previous close.
BUSINESS
RBI’s rate hikes herald testing period for India Inc’s debt-servicing heft
Companies could be hurt by the rising cost of money and input cost pressures that are crimping their profit margins
INDIA
Bond market shows faith and fortitude after RBI hikes repo rate by 50 bps
Ten-year bond yields fell 7 basis points to 7.451 percent from its previous close of 7.518 percent, while shorter four-year bond yields dropped 12 basis points, three-year bond yields lost 9 bps and two-year yields erased over 14 basis points
BUSINESS
Indian shares lag Asian peers in dollar terms, clouded by oil prices, liquidity tightening
The pace at which Indian equities have fallen has not been as fast as the Asian markets when measured in the local currency.
INDIA
10-year bond yields hit 7.5% as surging crude prices stoke inflation worries
The RBI will announce its policy on June 8. Analysts expect a 50bps hike in the repo rate to 4.9 percent this week and 25bps in August to reach the first milestone of the pre-pandemic level of 5.15 percent
