ETMarkets Smart Talk: 2023 will be last year before India enters national election cycle; Infra companies will be in focus: Darshan Engineer
We at Karma Capital believe CY23 will be another interesting year for Indian equities. While the Indian economic outlook continues to look healthy, there are some headwinds emerging like an increasing trade deficit (CAD and BOP).
Big Movers on D-St: What should investors do with JK Paper, Shipping Corp and Axis Bank?
Sectorally, buying was seen in energy, IT, and oil and gas stocks while some selling was visible in telecom, realty, auto, and FMCG stocks.
Glittering gold gives markets some Christmas cheer
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.6%. Japan’s Nikkei was down 0.2%, paring earlier losses of around 1%. Gold miners in Australia led a 1.3% jump for the S&P/ASX 200.
Sebi to phase out share buybacks via open mkts, cut risk with ‘direct access’
Sebi’s top decision-making body also tightened governance norms for the stock exchanges and other related institutions that constitute the broader market infrastructure. It also sought to enhance the risk management framework for 16 top brokers considered systemically significant.
Dalal Street indices rebound to end with minor losses
The Nifty declined 35 points, or 0.19%, to end at 18,385. Both the indices had fallen over 1% earlier in the day amid a market wide sell-off after Bank of Japan surprised investors by modifying its yield curve control band, sending Asian stocks in a tailspin.
Analysts’ backing for Axis Bank takes stock to lifetime high
Axis Bank is currently trading at 1.4 times its FY25 estimated core book value, compared with 1.9 times that of ICICI Bank. The net interest margin gap between ICICI Bank and Axis Bank has narrowed to 36 basis points (bps) in April-September 2022 versus 64 bps in the previous year. One basis point is 0.01%.
SpiceJet looks to settle dues of aircraft lessors
The company will first transfer its cargo undertaking to a newly created subsidiary. The unit, SpiceXpress, will then issue compulsorily convertible debentures (CCDs) to the parent, said the people cited above. Then, SpiceJet will offer lessors the option to swap lease payments with the CCDs.
Piramal partner Cosmea exits race to acquire R-Capital
Effectively, it would be difficult for Piramal Enterprises now to participate in the auction process scheduled Wednesday. This is mainly because Piramal’s binding offer is for one entity of Reliance Capital, while only those bidders offering to buy the entire company can participate in the challenge auction process. Furthermore, Piramal’s binding offer was made with […]