Rupee rises 2 paise against US dollar
Mumbai, Sep 6 (PTI) The rupee gained 2 paise to close at 83.95 against the US dollar on Friday, tracking a weak greenback against major crosses overseas. However, a negative trend in domestic domestic equities and foreign fund outflows capped the gains in the local unit, forex traders said. At the interbank currency market, the […] Key Points
ThePrintPage Industries badly needs to script a new chapter on growth
In Q3, Page’s revenues grew by just 3% year-on-year. But in Q4, revenues have fallen by almost 13% to ₹969 crore with a 14.6% drop in volume. Key Points
mintLTIMindtree shares tumble 10% on weak Q3 earnings, ratings downgrades. How to trade now?
IT services company LTIMindtree's stock tanked 10% following lower-than-expected Q3 earnings. CLSA downgraded the stock to Sell, while Kotak Institutional Equities recommended a Reduce rating due to weak quarter-on-quarter growth. Motilal Oswal maintained a Neutral rating, while Nuvama retained a Buy stance but cut the price target. InCred downgraded the stock to Reduce. LTIMindtree reported a 17% YoY rise in net profit to Rs 1,169 crore and a 5% increase in revenue to Rs 9,017 crore for the quarter. Key Points
Economic TimesTech Mahindra Q2 Preview: Profit to fall 42% YoY; deal wins seen muted
The communications vertical is expected to be the weakest during the September quarter. Deal wins are likely to remain soft similar to the previous two quarters, due to weak macro environment and slow decision-making of businesses. Key Points
Economic TimesTech Mahindra shares plunge 6% on Q3 earnings. Here's what brokerages recommend
Shares of Tech Mahindra fell more than 6% following disappointing Q3 results. Kotak Institutional Equities and Nuvama retained their 'Reduce' ratings. Kotak highlighted the long turnaround journey for Tech Mahindra despite healthy revenue growth, citing macro challenges and weak telecom outlook. Nuvama called Q3 earnings a mixed bag with an uncertain outlook, noting lower EBIT margin and weak bookings. Key Points
Economic Times
Stock market closes on negative note as Sensex ends winning streak
India Business News: The stock market ended on a negative note due to weak global sentiment and profit booking in IT shares. The BSE Sensex dropped by 195.16 points, and t Key Points
Times Of IndiaLTIM shares tumble over 13% after Q3 results. Should you buy, hold or sell?
The steep fall comes after the IT company released its Q3FY24 results, where it fell short of profit estimates. Find out how brokerages have rated the company's Q3 performance. Key Points
India TodayRupee falls 14 paise to 82.76 against U.S. dollar
The Rupee depreciated 14 paise to 82.76 against the U.S. dollar in early trade on May 19, as weak Asian peers and strength of the American currency in the overseas market weighed on investor sentiments. Key Points
The HinduRupee falls 2 paise to 81.96 against U.S. dollar in early trade
The rupee declined 2 paise to 81.96 against the U.S. dollar in early trade on Thursday amid weak sentiments in the Asian markets and upward movement in the crude oil price. Key Points
The HinduMarkets end flat in volatile trade amid weak trends in global equities
Foreign Institutional Investors (FIIs) were net buyers on Monday as they bought equities worth Rs 2,123.76 crore, according to exchange data. Key Points
Financialexpress
Markets decline in early trade after 8-day rally; all eyes on U.S. Fed interest rate decision
Benchmark indices fell in early trade on May 3, halting their eight days of rally, ahead of the U.S. Federal Reserve’s interest rate decision and weak global market trends. Key Points
The HinduJapan's economy slips into recession, raises BOJ policy uncertainty
Japan's economy slipped into recession on weak domestic demand, raising uncertainty about the central bank's plans. Japan lost its title as the world's third-largest economy. BOJ may sharply downgrade GDP forecasts. Takuji Aida expects further contraction. Reuters poll suggests April for ending negative rates. Marcel Thieliant predicts sluggish growth at BOJ's upcoming meeting in March. Key Points
Economic TimesRupee falls 8 paise against US dollar
Mumbai, Jan 23 (PTI) The rupee depreciated 8 paise to 83.15 against the US dollar, as foreign fund outflows and weak domestic equities weighed on investor sentiments. However, a weak US Dollar against major rivals overseas supported the domestic unit and cushioned the downside, forex traders said. At the interbank foreign exchange market, the local […] Key Points
ThePrintRupee jumps 16 paise against US dollar
Mumbai, Mar 7 (PTI) Rising for the second straight session, the rupee climbed 16 paise to settle at 82.67 against the US dollar on Thursday, tracking a weak American currency against major crosses overseas and a positive trend in equity markets. Besides, sustained foreign fund inflows and falling crude oil prices boosted the local currency, […] Key Points
ThePrint$521 mn total deal wins' the highest we have seen in Persistent Systems: CEO
Sandeep Kalra says: “In terms of industry verticals, we have said it over the past several quarters, that healthcare life sciences will lead the growth for us for the next several quarters, followed by technology companies, followed by BFSI. And that is the trend that we are seeing in our order book and that should pan out for us as well.” Key Points
Economic Times
Staying away from Paytm, focusing on PSUs: Chakri Lokapriya
“Unsecured lending has become an RBI focus and therefore some of the loan growth rates will taper down and they will have to do a certain amount of cherry picking within their customer base to reinvent the quality of the book so that it does not become an NPA in the future. Meanwhile, we stay on the sidelines in Paytm and the likes of Paytm.” Key Points
Economic TimesIsrael-Hamas war a 'new cloud' over world economy: IMF
IMF chief Kristalina Georgieva has expressed concern about the impact of the conflict between Israel and Hamas on the global economy. She stated that the world economy was already experiencing weak growth, and the war has further darkened the horizon. Georgieva emphasized that the IMF is closely monitoring the situation, particularly its effect on oil markets. Key Points
Economic TimesChina's Neusoft Xikang sinks 35% in Hong Kong trading debut, while AI firm gains
Shares in Chinese hospital cloud software firm Neusoft Xikang (9686.HK) slumped nearly 35% in the company's Hong Kong trading debut on Thursday, as sentiment towards some new share sales remained weak. Key Points
ReutersIndia's Grasim posts 56% Q1 profit drop on chemicals, textile slump
India's Grasim Industries Ltd (GRAS.NS) reported a 56% drop in quarterly profit on Thursday - its fourth straight quarterly fall - as the Aditya Birla Group-owned company was hit by weak chemicals prices and a slump in its textiles business. Key Points
ReutersVolume buster: Mro-Tek Realty, Swastik pipes, Orient Ceratech, and more have been large buyers
Nifty50 set to open higher, Dollar index falls, crude oil at $73.66. Market correction due to weak global cues, US bond yield surge, and upcoming interest rate hikes. High volume stocks to watch. Key Points
mintRupee falls 48 paise to hit all-time low of 83.61 against US dollar
Mumbai, Mar 22 (PTI) The rupee depreciated 48 paise to settle at an all-time low of 83.61 against the American currency on Friday, tracking a surging greenback against major crosses in the overseas markets and weak Asian peers. Foreign fund outflows also dented market sentiment, forex traders said. At the interbank foreign exchange market, the […] Key Points
ThePrintRupee edges 3 paise lower at 83.26 against US dollar
Mumbai, Nov 17 (PTI) The rupee declined by 3 paise to 83.26 against the US dollar on Friday as a firm greenback in the overseas markets and losses in domestic equities weighed on investor sentiment. Global crude oil prices trading near four-month lows helped the rupee restrict losses, forex dealers said. At the interbank foreign […] Key Points
ThePrintJP Nadda, Amit Shah to take stock of reports for 160 'weak' Lok Sabha seats
ET had reported earlier that BJP was focusing extensively on these 'weak' seats and had divided them into clusters of 40 each, with Union ministers deputed to spend time in there. BJP has identified 14 seats in UP, 10 in Bihar, 12 in Telangana, 18 in Maharashtra and two in Jharkhand among others as 'weak' seats. Nadda and Shah had toured all these constituencies. Key Points
Economic TimesThe import of normal monsoon is changing
Weak monsoon expected in central and peninsular India, with potential impact on inflation and crop production. El Nino is likely contributing to the shift. Key Points
Hindustan TimesDiscretionary spending may weaken in Q4; apparel, lifestyle cos and eateries expect sales to grow only 15%
The slowdown is not restricted to apparel. Even the liquor segment that surpassed pre-Covid sales last year, could see slower growth. Analysts also said demand environment remains weak in the quick service restaurant (QSR) space. Fine dining restaurant chain Speciality Restaurants' managing director Anjan Chatterjee said the phenomenon of revenge eating is now tapering down with dine-in business down by 5%-15% for the industry. Key Points
Economic Times
India's Bajaj Electricals posts plunge in Q2 profit on weak demand, stiff competition
India's Bajaj Electricals (BJEL.NS) posted a 56% fall in its second-quarter profit on Monday, hurt by pricing pressures due to stiff competition and muted demand caused by a delayed festive period. Key Points
ReutersIndia's Tech Mahindra shares slide on biggest profit drop in 16 years
Shares of Indian IT services company Tech Mahindra (TEML.NS) dropped to nearly a three-month low on Thursday, a day after the company posted its biggest profit drop in 16 years. Key Points
ReutersIndia's TCS skids on demand recovery worries after Q2 revenue miss
Shares of India's Tata Consultancy Services (TCS.NS) fell as much as 1.8% on Thursday, as investors worried that a recovery in demand was still not within reach after second-quarter revenue missed estimates due to weak client spending. Key Points
ReutersRupee falls 15 paise against US dollar on foreign fund outflows
New Delhi, Sep 26 (PTI) The rupee stayed on the downward track for the second straight day to settle 15 paise lower at 83.28 against the US dollar on Tuesday due to a firm greenback against major currencies overseas and persistent foreign capital outflows. Besides, weak equity market sentiment and elevated levels of crude oil […] Key Points
ThePrintIndia's Vedanta posts 41% slump in Q1 profit on soft metal prices
Indian metals-to-oil conglomerate Vedanta (VDAN.NS) reported a 40.8% plunge in first-quarter profit on Friday, as weak commodity prices outweighed a slight increase in production and sales for metals like aluminium. Key Points
Reuters
Rupee falls 4 paise to 82.41 against U.S. dollar in early trade
The rupee depreciated 4 paise to 82.41 against the U.S. dollar in early trade on May 18, as weak Asian peers and strong American currency weighed on investor sentiments. Key Points
The HinduMarkets fall in early trade amid weak trend in U.S. equities
The domestic equity benchmark indices fell in early trade on May 5 in-line with the weak trend in the U.S. markets and the decline in index major HDFC twins. Key Points
The HinduSGX Nifty down 40 points; here's what changed for market while you were sleeping
With the market in an oversold territory, we could see a quick pullback rally if the index trades above 17500. Above which, the pullback formation is likely to continue till 17600-17750. On the flip side, as long as the index is trading below 17500, the weak sentiment will continue. Below which, the index could retest the level of the 200-day SMA or 17400. Key Points
Economic TimesMonsoon enters weak phase, subdued rain likely, says IMD
Rainfall in August and September is usually 42.8 cm, according to data between 1971-2020. | Latest News India Key Points
Hindustan TimesIn auto, prefer two-wheelers; Hero Moto top pick: Siddhartha Khemka
Sun Pharma reported better-than-expected earnings with EBITDA margins beating expectations. The stock reacted positively to the news. Voltas had weak performance, particularly in the project business, but the market reacted positively, possibly due to short covering. Blue Star, on the other hand, had strong results and a positive outlook. Battery companies like Exide and Amara Raja are showing good traction, but we have a neutral rating on them and prefer to invest directly in the OEMs. Our top picks are two-wheelers, with Hero Moto leading the pack. Key Points
Economic Times
Sensex, Nifty fall for 3rd straight day amid global slide; IT stocks tumble
The S&P BSE Sensex fell 535.88 points to 71,356.60, while the NSE Nifty50 slid 148.45 points to settle at 21,517.35. Broader market indices also ended today’s trading session on a weak note. Key Points
India Today‘Numbers weak but pipeline strongest ever,' says HCLTech CFO; company to defer hikes for senior employees
The CFO believes that the strong pipeline would reflect in numbers in the second half of the current fiscal. “Despite the weak Q1, our guidance remains unchanged at 6-8 per cent for the company level and 6.5-8.5 per cent for services. We are confident in our pipeline, which is expected to deliver good revenue in the second half,” Aggarwal noted. Key Points
Business TodayIT stocks: Q4 worst since Covid days but dividend, buybacks can keep doomsday away
Indian IT companies have posted their worst results in 11 quarters, and stocks in tier-one tech firms have dropped up to 21% in the past three months. weak demand for IT services is squeezing earnings, while there is little expectation of recovery in the first two quarters of the 2023 financial year, resulting in signs of a slowdown. As a result, BofA Securities, despite analysts being slightly overweight on the sector, has issued an underweight on Indian IT stocks with neutral ratings for Infosys and TCS, and predicting that Wipro and Tech Mahindra will underperform. Key Points
Economic TimesInfosys shares tank 11% on weak Q4 earnings. Should you buy or sell?
Despite calling Infosys' January-March 2023 quarter results shocking , Jefferies maintained a ‘Buy on the second-largest IT services company for a price target of Rs 1,770 based on 24X 12m forward EPS. Key risks include weaker revenue growth, lower margin, unfavourable currency, and corporate action, the brokerage said. Key Points
Economic TimesRupee plunges 17 paise to hit lowest level of 83.61 against US dollar second time in 4 weeks
Mumbai, Apr 16 (PTI) The rupee plunged 17 paise to hit its lowest level of 83.61 against the US dollar for the second time in four weeks on Tuesday, tracking negative equity markets and a strong greenback against major crosses overseas amid geopolitical tensions. Forex traders said a weak appetite for riskier assets and sustained […] Key Points
ThePrint
Q3 Preview: PI Industries preferred pick of Jefferies from chemical sector; Anupam Rasayan to see strong recovery
Q3 Results Preview: Amidst weak expectations from chemical sector during the quarter, PI Industries remains preferred pick of Jefferies on volume outlook, valuations. Anupam Rasayan may see see strong recovery during the quarter while Navin Fluorine may see sequential recovery on HPP plant ramp-up. Key Points
mintRupee falls 4 paise to close at 83.33 against US dollar
Mumbai, Mar 27 (PTI) The rupee declined by 4 paise to close at 83.33 against the US dollar on Wednesday, tracking a strong American currency against major rivals overseas and weak Asian peers. However, foreign fund inflows, a surge in domestic markets and a decline in crude oil prices cushioned the downside, forex traders said. […] Key Points
ThePrintRupee rises marginally against US dollar
Mumbai, Mar 4 (PTI) The rupee appreciated 1 paisa to settle at 82.90 against the US dollar on Monday, tracking a weak American currency overseas and positive equity market sentiment. However, volatile crude oil prices and foreign fund outflows weighed on the Indian currency, forex traders said. At the interbank foreign exchange market, the local […] Key Points
ThePrintRupee settles 1 paisa higher against US dollar
Mumbai, Jan 25 (PTI) The rupee rose 1 paisa in a range-bound trade to close at 83.11 against the US dollar on Thursday, as the support from weak American currency overseas was negated by rising crude oil prices. Forex traders said the rupee is trading in a narrow range as muted domestic equities and sustained […] Key Points
ThePrintSensex, Nifty snap winning run as IT stocks retreat; HDFC Q3 results in focus
The S&P BSE Sensex fell 199.17 points to 73,128.77, while the NSE Nifty50 declined 65.15 points to 22,032.30. All the broader market indices fell, reflecting the weak sentiments on Dalal Street. Key Points
India Today
Pre-market action: Here's the trade setup for today's session
The rupee pared all its initial gains to settle just 1 paisa higher at 83.14 against the US dollar on Monday, as the support from lower crude oil prices in international markets was offset by a weak trend in domestic equities. Key Points
Economic TimesRupee rises 11 paise to settle at 83.16 against US dollar
Mumbai, Dec 22 (PTI) Rising for the first time this week, the rupee appreciated by 11 paise to settle at 83.16 against the US dollar on Friday amid a weak American currency and positive equity market sentiment. Strengthening crude oil prices and forex outflows, however, restricted the rupee’s gains, forex traders said. Crude oil price […] Key Points
ThePrintRupee recovers from record lows; rises 6 paise to settle at 83.34 against US dollar
Mumbai, Nov 28 (PTI) The rupee on Tuesday rebounded from record low levels, gaining 6 paise to settle at 83.34 against the US dollar amid positive sentiment in the equity markets and inflow of foreign funds. Forex traders said a weak American currency against major rivals and crude prices hovering close to USD 80 per […] Key Points
ThePrintGold falls Rs 50; silver declines by Rs 300
New Delhi, Nov 20 (PTI) Gold prices eased by Rs 50 to Rs 61,770 per 10 grams in the national capital on Monday in line with weak global cues, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 61,820 per 10 grams. Silver also declined by Rs 300 to […] Key Points
ThePrintEquity markets decline in early trade
The 30-share BSE Sensex falls 318.75 points to 64,940.70 in morning trade. Benchmark equity indices declined in early trade on Monday amid weak trends in Asian markets and unabated foreign fund outflows. Key Points
The Tribune India
China slips back into deflation casting doubts about economic recovery
China deflation: The headline figure was dragged by a further slump in pork prices, down 30.1 per cent from a decline of 22 per cent in September, due to an oversupply of pigs as well as weak demand. Key Points
Business Todayweak coalition after 2024 polls, oil may hit growth stability: Morgan Stanley
It highlighted that the current account deficit could widen to 2.5%, close to RBI's comfort zone. With macro stability indicators stretched under this scenario, we think currency depreciation pressures could rise and lead RBI to restart its rate hike cycle, said the report. However, if conditions remain favourable, India's growth could average 6.5% for the decade, according to Morgan Stanley. It said growth could move higher if the government makes more concerted efforts to expand infrastructure. Key Points
Economic TimesJapan service activity posts slowest growth this year - PMI
The final au Jibun Bank Service purchasing managers' index (PMI) fell to 51.6 in October from 53.8 in September, beset by weak demand. Key Points
Business TodayPaycom Software shares plummet after downbeat revenue forecast
Paycom Software's (PAYC.N) shares lost over a third of their value before the bell on Wednesday, after the payroll processor forecast a weak revenue for the fourth quarter as economic uncertainty persists. Key Points
ReutersExplained: Why did the Indian stock market plunge today?
The BSE Sensex slipped 825.74 points or 1.26% to close at 64,571 – the biggest single-day loss since July 1. Key Points
Hindustan TimesRupee falls 6 paise against US dollar
Mumbai, Oct 13 (PTI) The rupee fell 6 paise to settle at 83.30 against the US dollar on Friday due to surging crude oil prices overseas and a weak trend in the domestic equities. Forex traders said that positive macroeconomic data failed to rev up the local currency, which has been under pressure due to […] Key Points
ThePrintIndian shares set to open weak as US rate fears, high oil prices weigh
Indian shares are set to open marginally lower on Monday, as rising U.S. rate concerns after strong jobs data and surge in oil prices due to military conflict in the Middle East weighed on sentiment. Key Points
ReutersIndian shares set to open lower as investors eye US jobs data
Indian shares are set to open marginally lower on Friday, on caution ahead of a key U.S. jobs report, which could influence the Federal Reserve's rate decision later this month. Key Points
Reutersweak loans of banks to fall to 3-3.5% of gross advances by March 2025: S&P
S&P Global Ratings predicts that India's banking sector will see a decrease in weak loans to 3-3.5% of gross advances by March 2025. This decline is based on structural progress and good economic prospects supporting the financial institutions' resilience. The report estimates India's GDP will increase 6-7.1% annually in fiscal years 2024-2026, making it the fastest-growing economy in Asia-Pacific and globally. Key Points
Economic TimesDouble-digit gains for 3 years! Will Sensex repeat the show in H2 CY23?
In the last five years, the Sensex has given positive returns to investors in the second half of the calendar year with double-digit returns in the last three years, making it an attractive investment destination. Additionally, all sectoral indices have given positive returns in the second half in the past three years, with 10 of the 15 sectoral indices on BSE giving double-digit returns in H2 of 2022, including the banking, commodities, and financial services sectors. On the macroeconomic front, foreign inflows are expected to continue despite risks from a weak monsoon and global risks impacting FII flows. Key Points
Economic Times
Page Industries shares tank 15% on disappointing Q4 earnings. What should you do now?
Shares of Page Industries fell 15% in early trade after the clothing company reported a 59% YoY drop in net profit for Q4 2022-23. Revenue from operations was also down 13%. Brokers had mixed opinions on the stocks outlook with Morgan Stanley maintaining its 'Overweight' stance and setting a price target of INR43,068, Kotak Institutional Equities recommending a 'Sell' rating and a price target of INR33,000 and Nuvama downgrading the stock from 'Hold' to 'Reduce' and setting a price target of INR36,800. Despite the company's weak performance, its board declared a fourth interim dividend of INR60 per equity share. Key Points
Economic TimesM&M Q4 Preview: Profit likely to rise up to 38% YoY; EBITDA margins may contract
Auto segment revenues increased 32% year-on-year, led by volumes and ASP. FES revenues to increase 24% YoY on 23% YoY increase in volumes and flat ASPs. Overall EBITDA margin to improve 20 bps QoQ to 13.2% on price hikes, offset by weak mix. Key Points
Economic TimesMarkets fall for second day running; IT counters drag
Market benchmark indices declined in early trade on May 17, extending their previous day’s fall, dragged down by IT counters and a weak trend in the U.S. equities. Key Points
The HinduUK economy grows by 0.1% in first quarter of 2023
Output was 0.2% higher than a year earlier, the Office for National Statistics said. But GDP in March alone dropped 0.3%, compared with poll forecasts for it to hold steady. While industrial output and construction grew, the much larger services sector dropped 0.4%, reflecting weak car sales and retail, hurt by unusually rainy weather and high inflation. Key Points
Economic Times