December rotation favors midcaps, real action expected in January: Andrew Holland
Forget global for a second, I still think that the GDP forecast which the RBI put out at 6.8% is too high and I think it is nearer to 6% to 6.3% which means that there is still got to be more downgrades to earnings in this quarter.
Stocks to buy today: Oberoi Realty, RITES and Premier Energies on investors’ radar
Indian benchmark indices closed lower on Monday, impacted by global cues and pre-Fed decision caution. Premier Energies and Oberoi Realty showed bullish trends, with analysts recommending buys. However, RITES exhibited sideways trading and weak momentum, prompting a sell recommendation.
Dollar supported as bets on 2025 rate cuts evaporate
The dollar held near recent peaks ahead of an expected U.S. interest rate cut, with traders raising long-term rate assumptions. The euro and yen weakened, while the gap between U.S. and German ten-year yields widened. Strong U.S. economic data suggests this week’s cut may be the last for a while.
Asian stocks climb ahead of key rate decisions
A key stock benchmark for the region climbed, as did shares in Australia and Japan. South Korean equities fell, while futures for Hong Kong stocks pointed to a decline. The moves came after a positive session on Wall Street, where the Nasdaq 100 gained more than 1% to reach another record high.
Implementing new LCR norms may undo benefits of rate cut
Individual lenders have approached the central bank to ease the proposed LCR guidelines that require them to mandatorily invest a sum equal to their 30-day outflows in high quality liquid assets (HQLAs), like government securities, to avoid a collapse like the Silicon Valley Bank.
Indian rupee hits record low at 84.66 vs US dollar
The Indian rupee hit a new low of 84.86 per US dollar on Monday, driven by a high trade deficit and rising US bond yields. RBI’s intervention helped cap the decline.
5 companies to launch their maiden IPOs on December 19
Investment bank DAM Capital Advisors aims to raise ‘840 crore through its IPO, which is entirely an offer-for-sale (OFS) by the promoter and existing investors. The price band for the issue has been set between ‘269 and ‘283 per share.
Vedanta declares interim dividend of Rs 8.5, its 4th this fiscal
The company started the year with a dividend of ’11 in May, following it up with a dividend of ‘4 in July and ’20 in September. Including the dividend announced on Monday, the company’s total payout so far in 2024-25 (April-Mar) will amount to ‘43.50 per share.
India Inc gets past Rs 3 lakh crore mark in equity fundrace
Those launching public issues this week include DAM Capital Advisors, Ventive Hospitality, Carraro India, Senores Pharmaceuticals, Transrail Lighting, Concord Enviro Systems, Sanathan Textiles and Mamata Machinery. Inventurus Knowledge Solutions closed on Monday and International Gemological Institute will end on Tuesday, adding up to a total of ₹14,000 crore being raised this week by 10 companies.
Softbank eyes $100 billion investment in US projects over next 4 years
Trump announced the planned investment Monday at his Mar-a-Lago resort with Son at his side, along with Howard Lutnick, head of investment bank Cantor Fitzgerald and Trump’s pick for commerce secretary.