CLSA maintains an outperform rating on Reliance Industries, citing improved confidence in its new ventures. HSBC has a reduce rating on Avenue Supermart, noting its pricing advantage is not substantial. Morgan Stanley raises Delhivery’s target price, expecting strong volume growth and margin expansion due to a favorable industry environment. CLSA has an outperform rating on…
MUMBAI: Warning that governance lapses-not a lack of knowledge-lie at the heart of many financial failures, RBI deputy governor J Swaminathan said institutions often ignore red flags because incentives discourage speaking up, allowing risks to fester until they erupt into crises.Delivering the keynote address at the 3rd International Finance and Accounting Conference (IFAC) at the…
India’s top gas importer Petronet LNG has issued a force majeure notice to its supplier QatarEnergy and local buyers as its vessels are unable to reach Ras Laffan load port due to the crisis in West Asia, it said in an exchange filing on Wednesday.The US-Iran conflict has disrupted fuel shipments in the region. Transit…
US stock markets rebounded on Wednesday after two days of sharp volatility, supported by easing oil prices and encouraging economic data that improved investor confidence.The S&P 500 rose 0.8 per cent in midday trading and was on course to recover most of the losses recorded since the war with Iran began. The Dow Jones Industrial…
The Indian rupee weakened sharply on Wednesday, slipping to a record closing low of 92.05 against the US dollar as soaring crude oil prices and global risk aversion linked to the Iran crisis weighed heavily on the domestic currency.The rupee depreciated by 56 paise during the session, pressured by rising energy costs, foreign fund outflows…
The disruption of Middle East energy supplies due to the Iran war is pushing global oil and gas prices higher, a development that could strengthen Russia’s finances and indirectly support its war effort in Ukraine.Rising energy prices are increasing the revenue Russia earns from oil and gas exports – a key pillar of the Kremlin’s…
The Reserve Bank of India (RBI) on Wednesday said it will conduct a switch auction of government securities worth Rs 20,000 crore on March 9 as part of efforts to manage the government’s bond redemption profile.According to an RBI release, the auction will be held between 10:30 am and 11:30 am, as reported PTI. The…
Walmart-backed fintech major PhonePe is targeting a valuation of $9 billion to $10.5 billion (about Rs 75,000 crore–Rs 87,000 crore) for its upcoming India IPO, with plans to raise around $1.05 billion through an equity sale, sources aware of the development told news agency PTI.The expected valuation is lower than the company’s last funding round…
India is not the only market to have seen losses in the wake of the Middle East situation. (AI image) Indian stock markets have been bleeding – and multiple triggers in the last few quarters have left BSE Sensex and Nifty50 well below their record highs. The fresh negative for the stock markets is the…
Hyderabad: With an eye on emerging as a pan-India player in the agricultural machinery market, Escorts Kubota Ltd (EKL) is making a serious play for the high-growth South Indian market with its foray into paddy and wetland farming segment. The company, which is a joint venture between Faridabad-based Escorts Group and Japan’s Kubota and primarily…