County Morgan Financial News

With core inflation touching an all-time low, which is an indication of excess capacity in the economy, it makes a strong case for rate cuts by the Reserve Bank of India, says Jahangir Aziz, Head Emerging Market Economics at JP Morgan in an interview with The Economic Times. He also talks about how debt flows from the index inclusion could help in easing the balance of payments along with softer bond yields. Even as geopolitics is crucial, it is the outcomes of the US elections which will have a bigger influence on the markets. Below are edited excerpts from the conversation: What is your assessment of the 50 bps rate cut by the Fed last week and its impact on the Indian market ? We had expected 50 basis points of rate cut after the July non-farm payroll came in.

Morgan Stanley said the decline in oil prices would be a cause for concern for Indian equities if the oil market is right about its assessment of a global slowdown. The brokerage said while falling oil may seem good for India's economy, earnings and shares, in practice, the impact depends on the reasons and duration of the fall. «We think it is safe to say that the recent bearishness in the oil markets is being led by growing concerns about slowing demand, and to that extent, its positive impact on India's terms of trade is diluted greatly,» said Morgan Stanley's strategists, including Ridham Desai, in a client note.

Tools & Tiaras founder Judaline Cassidy discusses the entrance of women in skill trades and how her camp introduces young girls to them.

Investment management firm Vanguard Group on Wednesday bought more than 11.4 million units in REIT firm Nexus Select Trust for ₹158 crore through open market transactions, while Morgan Stanley sold its stake in the company. Nexus Select Trust is India's first real estate investment trust (REIT) backed by retail properties.

Global News has learned the identity of the young firefighter who lost his life fighting the wildfire in Jasper National Park.

Singapore's DBS Group has appointed Tan Su Shan, currently its institutional banking group head, as CEO from March, replacing Piyush Gupta, who has led Southeast Asia's biggest bank for 14 years. She will be the bank's first female chief executive and also the first to be appointed from within the ranks of the bank.

Kathleen Martin wasn't sure about leaving JPMorgan for Citi. It was late 2021, and she'd spent four and a half years at JPMorgan after a career at Morgan Stanley and GE Capital. At JPMorgan, Martin was an MD and global technology chief of staff, and her job was secure. But Citi came calling with what Martin says was represented to her as a «long-term leadership position» and she jumped. 

In a stock exchange notice today (7 August), the trust said Caffrey will work alongside Simon on the value stocks in the large cap portfolio, while Ghernati will join existing co-manager Felise Agranoff on the growth stocks in the large cap portfolio. Caffrey has over 32 years of experience in the industry and joined JPMorgan Asset Management in 2002. He is a member of the firm's value team supported by over 20 career research analysts. JP Morgan American portfolio manager retires after 44 years With over 24 years' experience, Ghernati started working with JPMorgan in 2020 and curr...

JSW Energy on Monday said it has achieved 'A' rating for Environment, Social and Corporate Governance (ESG) in the latest update from Morgan Stanley Capital International (MSCI) ESG rating. MSCI is a leading provider of research and critical decision support tools for the global investment community, JSW Energy said in an exchange filing. The rating underscores the company for leading its peers in carbon emission mitigation practices and capitalising on opportunities in renewable energy space, it said. The 'A' rating in Morgan Stanley Capital International ESG rating refers to a company with a mixed or unexceptional track record of managing the most significant ESG risks and opportunities relative to industry peers.

Showtime is bringing back the beloved character Dexter Morgan in a new series titled ‘Dexter: Resurrection,’ with Michael C. Hall reprising his iconic role. The network is also expanding the Dexter universe with a prequel series.

Based in San Francisco, she takes over from William Huffman, who was promoted to CEO in June. Malik is also chair of Nuveen's global investment committee. She started her career at JP Morgan in 1995 where she worked as an equity portfolio manager and research analyst. Nuveen promotes president William Huffman to CEO Malik joined Nuveen in 2003 as an equity research analyst, and was subsequently promoted to head of global equity portfolio management and then CIO. Huffman said: «As a proven leader who has dedicated two decades of her career to the evolution and growth of Nuveen...

Starz has unveiled the trailer for Season 2 of “The Serpent Queen,” starring Samantha Morton. This historical drama series will return with eight episodes on July 12.

Niva Bupa Health Insurance has filed the draft red herring prospectus (DRHP) to raise ₹3,000 crore through an initial public offering (IPO). The standalone health insurance firm will be the second health insurer listed on Indian stock exchanges, following Star Health and Allied Insurance. The IPO will include a fresh issue of shares to raise ₹800 crore for improving solvency ratio and operating expenses, and an offer for sale by existing shareholders, British United Provident Fund Bupa and Fettle Tone LLP, amounting to ₹2,200 crore. According to draft papers, the health insurance company is considering a pre-IPO placement of up to ₹160 crore, which would reduce the size of the fresh issue. The company plans to allocate 75% of the net offer to qualified institutional buyers, 15% to non-institutional bidders, and 10% to retail investors.

It's not just bankers in London and New York who are taking the opportunity to move to boutiques. Paris-based bankers are doing it too. 

Bank of Americaindicated in February that it wanted to build out its European equity derivatives business this year. Accordingly, it has just made a mid-level equity derivatives hire from Morgan Stanley. At the same time, though, it lost a senior equity researcher to Citi, where one of it former equities stars is now heading research globally.

₹800 crore and an Offer of Sale (OFS) of 1.36 crore equity shares by promoters and current shareholders.The proceeds of the new issuance will be used to pay off debt and for other company purposes. In the OFS, the selling shareholders are Satish Ramanlal Mehta (up to 1,730,000), Sunil Rajanikant Mehta (up to 40,000), Namita Vikas Thapar (up to 1,408,600), Pushpa Rajnikant Mehta (up to 1,150,000), Bhavana Satish Mehta (up to 531,400), Kamini Sunil Mehta (up to 125,000), BC Investments IV Ltd (up to 7,234,085), Arunkumar Purshotamlal Khanna (up to 300,000), Berjis Minoo Desai (up to 144,642), and Sonali Sanjay Mehta (up to 125,000).The book-running lead managers for the offer are Kotak Mahindra Capital Company, Jefferies India, Axis Capital, and JP Morgan India.

₹1,176.59 crore from anchor investors a day before its initial public offerings (IPO) opens for subscription. According to the exchange filing, the company allocated 4,32,57,009 equity shares to anchor investors at a price of ₹272 per share.

BofA Securities maintained a buy rating on Varun Beverages, Jefferies recommended a buy on Zomato, Morgan Stanley has an Equal Weight rating on AB Capital and Motilal Oswal recommended a neutral stance on UPL. We have collated a list of recommendations from top brokerage firms from ETNow and other sources:

₹6,000 crore amid ongoing general elections in the country. Also read: Indegene IPO: What does GMP signal ahead of share listing on Monday? “What's noteworthy is the robust domestic inflow, particularly with retail investors showing keen interest in equity markets. This surge in retail participation is empowering issuers to confidently launch IPOs in May," said Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Pvt.

UBS Group AG is considering introducing a reward system for investment bankers who refer clients to the firm’s wealth management business, according to people with knowledge of the matter.

Brokerages remain bullish on State Bank of India(SBI) after the lender made a swift recovery in earnings reporting a standalone net profit of Rs 20,698 crore in Q4, up 24% YoY. The estimates on the target price for SBI go as high as Rs 1,000. The profit was higher than the Street estimate of Rs 16,695 crore.