HCL Tech shares jump over 5 pc; hit 52-week high after Q3 earnings
[ad_1] Shares of HCL Technologies climbed over five per cent in the morning trade on Monday after the company reported a 6.2 per cent increase in consolidated net profit to ₹4,350 crore in the December quarter. Also read: Markets hit record peaks: Sensex breaches 73,000 level for first time; Nifty goes past 22k mark The […]
Indian debt market ignites as FPIs Inject $1 billion in just 12 days
[ad_1] Foreign portfolio investors (FPIs), recognising the advantage of early investments, are clearly doubling down on Indian debt market , pouring ₹7,912 crore (nearly $1 billion) in government securities in the first 12 days of this month. This comes on top of the turnaround seen in 2023, when the total debt inflows by FPIs hit […]
Luxembourg, France gain heft among FPIs investing into India
[ad_1] There has been a change in the pecking order among regions that foreign portfolio investors (FPIs) invest from into India. Luxembourg has dislodged Mauritius to become the region with the third-largest assets under custody. Its AUC grew 30 per cent last year to ₹4.85 lakh crore, with its equity assets now second only to […]
SEBI proposes real-time stock settlements in India
[ad_1] India’s regulator want stock trades to be settled instantly, racing far ahead of other major markets in pushing reforms meant to attract more investors. The Securities and Exchange Board of India (SEBI) is proposing to start same-day settlement from March, before moving to a real-time process in 2025. The shorter cycles will be optional […]
SEC charges Morgan Stanley, Pawan Passi in front-running case
[ad_1] The Securities and Exchange Commission (SEC) on Friday charged investment banking major Morgan Stanley & Co. LLC and the former head of its equity syndicate desk, Pawan Passi, in a front-running case. According to the US market regulator, the banking major and its employee were involved in a multi-year fraud by disclosing of confidential […]
Polycab faces investor scepticism after income-tax findings; analysts unconvinced
[ad_1] Income-tax findings on an “unnamed” company perceived to be Polycab Industries and the company’s clarification failed to convince analysts. The Polycab stock corrected 21 per cent to ₹3,905 on Thursday because of a Ministry of Finance release suggesting tax evasion by the group. While retaining the “Add” rating on the stock, Axis Capital cut […]
Private capex will return with global stability, says Nomura’s Saion Mukherjee
[ad_1] Indian equities attracted good foreign portfolio inflows in 2023 at over $20 billion, but capex by companies is not keeping pace. Private capital expenditure has been sluggish over the last ten years and disruptions such as the Covid pandemic, high inflation rates, supply chain problems have only contributed to an uncertain macro environment. “Despite […]
India holds back $600 million strategic oil reserve top-up
[ad_1] The Finance Ministry has scrapped a ₹5,000-crore ($602 million) plan to top up the nation’s strategic crude oil reserves, given the market volatility and the prospect of a further decline in prices. Instead of buying at current levels — Brent crude has already slumped about a fifth from a September peak and could fall […]
Crude oil up as API data shows US inventory decline
[ad_1] Crude oil futures traded higher on Wednesday morning as the data published by the American Petroleum Institute (API) showed a decline in crude oil inventories in the US. At 9.54 am on Wednesday, March Brent oil futures were at $77.89, up by 0.39 per cent; and February crude oil futures on WTI (West Texas […]
Radhakrishnan to take over as Sundaram Mutual CEO
[ad_1] Franklin Templeton India’s Chief Investment Officer, Anand Radhakrishnan, is set to join Sundaram Asset Management Company. He is expected to replace Sunil Subramaniam who is likely to step down by April. Subramaniam, 62, will step down after completing 19 years in Sundaram Mutual, sources said. During his tenure Subramaniam had handled various roles including […]