Banks look good within the financials and the other space that looks good is materials like steel and cement, said Iyer.
The European Commission said the banks formed two cartels to manipulate the spot foreign exchange market for 11 currencies, including the US dollar, the euro and the pound.
Will the economy revive once the political uncertainty is over?
JP Morgan maintained overweight call on Tata Steel post Q3 results but reduced its target to Rs 880 from Rs 980 earlier
Projected earnings growth for Q4 CY18 has softened a bit from the start of the year (10.6 percent versus 12.2 percent YoY). While improvement is seen in industrials; financials, IT, materials and energy sectors have seen downward revisions. For CY19, analysts are projecting single-digit earnings growth of 6.5 percent and revenue growth of 5.3 percent as benefits of fiscal stimulus fade away
Allowing mutual funds to segregate distressed debt securities in a scheme, a practice called side-pocketing is a clear moral hazard.
The undeclared ban has been lifted by regulators under the Trump administration and the bank is planning to open 400 new branches
Watch the video for a roundup of key happenings in the commodities market with a deep dive into some of the most active counters.
The financial market regulator has capped the total expense ratio (TER) for fund houses with equity assets up to Rs 50,000 crore at 1.05 percent, down from as much as 1.75 percent charged earlier
According to Gori, the economic fundamentals of India remains very strong and he expects 7.3 percent GDP growth next year, putting India as the fastest growing economy
"If they determine you can't have reciprocal trade practices, reciprocal regulations ... It would be more than 4,000," Dimon said in a BBC interview on the sidelines of the World Economic Forum meeting in Davos, Switzerland.
A total of Rs 35,828 crore will be infused into nine banks that haven't triggered prompt corrective action (PCA), including State Bank of India (SBI), Punjab National Bank and Bank of Baroda, among others, while Rs 52,311 crore will be pumped into 11 banks that have triggered PCA, including IDBI, Central Bank of India, and UCO Bank.
He believes the U.S. could get out of its growth slump if Washington can do something on tax reform, infrastructure and education.
Citi and Credit Suisse has maintained a neutral rating on Maruti Suzuki with target price of 6,500 and Rs 6,800 respectively while on the other hand, Morgan Stanley and JP Morgan has an overweight rating on the stock with target price of Rs 8,784 and Rs 8,100 respectively.
JP Morgan has retained overweight rating on mining firm Vedanta with a price target of Rs 310 and sees a strong growth potential in its oil & gas segment over the next tree years based on FY19-20 estimates of USD 55/bbl oil.
JP Morgan has maintained overweight rating on Larsen & Toubro increasing the target price to Rs 1925 and estimates 10 percent core business revenue growth and Rs 950 crore consolidated PAT in June quarter.
JP Morgan has maintained a buy rating on Grasim Industries and has raised the target price from Rs 1250 to Rs 1350 and feels that listing of Aditya Birla Capital can help unlock significant value for merged Grasim shareholders over the next one year.
Lemon Tree is backed by Warburg Pincus and the IPO will provide the company an opportunity to encash its investments. The private equity giant holds 20-25% stake in the company. Lemon Tree and Warburg didn’t respond to Moneycontrol’s queries. The IPO may comprise stake sale by promoters as well as issue of fresh shares.
Retail investor has done a lot better than the sophisticated institutional investors, said Bharat Iyer, MD & Head-India Equity Research, JPMorgan India.
Markets are currently pricing a 70 percent chance of rate hike in June, which JP Morgan also expects, said James Sullivan.
Developed economies are doing little better so that is also helping the market sentiment. The economic picture is favourable wherever you look.
Capital and commodities markets regulator Securities and Exchange Board of India (SEBI) has issued show cause notices to rating agencies Credit Analysis and Research (CARE) Ratings and CRISIL over their decisions to suspend ratings of Amtek Auto and JP Morgan‘s debt fund respectively.
Trump has criticised US companies like General Motors and Ford Motor Co which manufacture abroad, accusing them of costing US jobs. On Thursday he took on Toyota, warning the world's largest automaker that it would face a "big border tax" if it exported Mexico-built cars to the US market.
In a panel discussion on CNBC-TV18, JP Morgan's top experts listed their views on topics ranging from the recent macroeconomic developments to what the equity market holds for the coming year.