MUMBAI: Massive erosion of wealth due to poor performance leading to frequent rating downgrades has forced irate shareholders of the Anil Ambani Group companies to complain against the management and threaten to file class action suit. Speaking at the AGM of Reliance Power here on Monday, a shareholder even threatened to make history by filing … Read moreIn a first, Anil Ambani threatened with class action suit at AGM
By Divya Patil Two Indian state-owned lenders withdrew rupee-denominated debt sales as fears of an additional government borrowing in the wake of the $20 billion tax-cut booster led to an increase in financing costs. Power Finance Corp. pulled a sale of three-year notes of as much as 50 billion rupees ($705 million) on Friday and … Read moreBanks pull bond sales as tax stimulus push yields higher
Hugh Johnson of Hugh Johnson Advisors said in an interaction with ET NOW that the US stocks might move higher and we will see an increase in optimism before we see the end of this cycle. Edited excerpts: ET Now: What do you actually make of the overall Fed commentary? Hugh Johnson: Well there is … Read moreIndia market prospects better than other EMs, but US a place to be in: Hugh Johnson, Hugh Johnson Advisors
NEW DELHI: The government is likely to consider selling Air India in such a way that the acquirer does not have to take on its working capital debt, thus halving the burden and making it a more attractive prospect, said people with knowledge of the matter. The carrier, which the government is again trying to … Read moreNew Air India sale offer may keep working capital debt out
The pessimistic mood among foreign portfolio investors is not just restricted to India but across emerging markets (EMs), said Sanjay Singh, head of global markets, India, BNP Paribas. In an interview with Nishanth Vasudevan, Singh said the rupee is likely to strengthen a bit, while gold could extend its winning run. Edited excerpts: In your … Read moreWe see 40 bps cut by Dec; with govt efforts, this will lift mood: Sanjay Singh, BNP Paribas
China announced that they will hold talks with the US this October. This is not new. It’s a vicious circle with the US administration being tough on China and slapping tariffs. Then stock markets fall on trade war fears. Then both US-China hints at resolution through a meeting or phone calls. Market rallies on news … Read moreGo for buy on dips strategy in gold, avoid panic selling
By Subhadip Sircar and Divya Patil The slide in Indian bonds last month on concern about potential monetary stimulus has one bond veteran smelling an opportunity. The government’s scope to deliver a big package to revive the economy is limited despite the $24 billion windfall from the central bank, while the prospect of additional interest-rate … Read moreThis veteran banker says bonds all set to rally on more rate cuts
Mumbai: The rupee declined by 29 paise to close at 71.77 against the US dollar on Wednesday as fears of an impending global recession prompted investors to stick to safe-haven assets like the Japanese yen. Rising crude oil prices and weakness in the equity market put further pressure on the domestic currency, forex dealers said. … Read moreRupee slips 29 paise to 71.77 against dollar
By Hemant Manuj The rating actions by Indian credit rating agencies (CRAs) have recently come in for much flak on account of their failure, in a few significant cases, to downgrade issues before they defaulted. The key product of a CRA is a statement of prediction about an obligor’s ability to meet its obligation. This … Read moreView: Why it is high time to review credit rating agencies regulation
Growth is stalled for want of investment and because the mechanism for mediating savings to investment is broken. Merely cutting lending rates or creating liquidity will not do. Reviving growth calls for spending political capital, to fix structural problems. Tell the farmer and everyone else they have to pay for the power they consume, that … Read moreView: India needs to correct some structural flaws to revive growth
Describing the lower GDP forecast of 6.9 percent as “optimistic”, analysts have opined that the Reserve Bank will have to undertake more rate cuts in the near future to help the economy. In an unprecedented move, the central bank Wednesday slashed the repo rate by a 35 bps to 5.4 percent, which is a nine-year … Read moreRBI will have to do more heavy-lifting for economy to even clip at 6.9%: Analysts
All eyes are now on how the government structures its foreign currencies bonds sale. JPMorgan is among the top players in this market. Madhav Kalyan, CEO of JPMorgan in India,s tells ET’s Saikat Das and MC Govardhana Rangan in an interview how the country should prepare and what it could achieve. Edited excerpts: The noise … Read moreGlobal bond rates low, India will gain by raising longer-tenor funds: Madhav Kalyan, JPMorgan
By Vildana Hajric Two years ago, an Arizona State University professor made waves with a study showing all the wealth created by U.S. stocks is the result of gains in a weirdly small group of companies. Now he’s back with an update that shows the situation is no cheerier in the rest of the world. … Read more60% of 62,000 global stocks are duds, shows study
NEW DELHI: Indian markets witnessed bulls hammering during the week gone by as investors gave a thumbs down to Union Budget amid somber global mood following weak China data that raised concerns over slowing global economy. Both Sensex and Nifty extended their weekly loss into the second week, falling 1.97 per cent and 2.18 per … Read moreTweet Buster: Right time to enter stocks & economic revival soon?
By Raghuram Rajan In her Budget speech, finance minister Nirmala Sitharaman said that India would start borrowing in external markets in external currencies. This is a marked change from the past when India issued government bonds in rupees, and borrowed in foreign exchange only from official lenders like the World Bank. Two possible rationales in … Read moreHow good or bad is the Budget decision to issue foreign currency debt?