Morgan Stanley News

As major cryptocurrencies look to end the week on a strong footing, with Bitcoin (BTC) looking to push above a key short-term resistance zone, traders are parsing through their options in the altcoin market that might be the best crypto to buy now.

Dixon Technologies (India) surged almost 10 percent in intra-day deals on Friday to their record high of ₹9,064 apiece, after global brokerage firm Morgan Stanley upgraded the stock to 'equal-weight' from an earlier 'underweight’ rating post its March quarter results (Q4FY24). However, the brokerage has a target price of ₹8,696 for the stock, implying a 4 percent downside from today's record high. Morgan Stanley expects an earnings CAGR (compound annual growth rate) of 42 percent for the firm during FY24 to FY28, which led to this upgrade.

The Bitcoin (BTC) price has been pumping higher this week in wake of US CPI data that pointed at moderating price pressures, and as major financial institutions including Morgan Stanley reveal significant holdings in US spot Bitcoin ETFs.

Mint. Yashish Dahiya will offer up to 54 lakh shares, while Alok Bansal will sell up to 29.7 lakh shares. The shares will be sold at a floor price of ₹1,258 per share, a 6% discount to the closing price on 16 May 2024 of ₹1,338.25 apiece on the BSE.

Tata Motors share price tanks 9% after Q4 results 2024. Opportunity to buy? During the past six trading sessions, Tata Motors' shares experienced a 6.70% decline, causing a loss of ₹22,592.60 crore in market value. Similarly, Tata Power witnessed a 9.4% drop in the same period, resulting in a ₹14,731 crore reduction in market capitalisation.

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:

Aluminum products maker Novelis, owned by Indian conglomerate Aditya Birla Group's Hindalco Industries, made public its filing for an initial public offering in the United States on Monday. The company is moving ahead with a listing at a time when the U.S. IPO market is on a rebound this year, after a two-year lull, on hopes of a «soft landing» for the economy, where inflation falls without a recession or big job losses.

India's G20 Sherpa and former CEO of Niti Aayog Amitabh Kant projected that the country is all set to overtake Japan as 4th largest economy in the world by 2025. The size of India's GDP is currently ranked 5th, after the US, China, Germany, and Japan. It overtook the UK in 2022. Just a decade ago, Indian GDP was the eleventh largest in the world. Currently, India's GDP is estimated to be around USD 3.7 trillion.

Raamdeo Agrawal, Chairman, Motilal Oswal, says “in the last 25 years, total savings in the Indian economy was $10-12 trillion. But in the next 25 years, it is going to be $100 to $150 trillion and it is going to hit us every day. It is hitting us every day. This is the journey of India. By 10th or 12th year, India would be accumulating almost $5-6 trillion of savings per year. We are going to give birth to Morgan Stanley, Merrill Lynch, a big JPMorgan or big asset management company out of India with a serious scale.” There are a lot of themes in this market, PSUs, defence, railways but one theme which you have really understood over the years is autos and auto seems to be in a great patch now. Two-wheelers are doing well. Escorts is also looking well. Maruti is doing well, Tata Motors is doing well. Do you see this kind of a comeback in the autos, especially at the discretionary end of the market, to last for the next two-three years? Raamdeo Agrawal: So long as you have the rallies going on in the capital market, which is another source of what you call wealth creation for the people at large, they are going to use their market cap power or financial wealth that they have created in their portfolios for buying discretionary stuff, whether it is high-end housing, high-end cars, high-end fashion, travel, all luxurious things.

Ford currently serves as the group's co-head of the Broad Markets Fixed Income team, as well as manager on several portfolios. He is retiring from the business after 33 years, effective from 31 August. Morgan Stanley confirmed to HL that there would be «no changes made to the investment process of philosophy of the fund» following Ford's departure, and that no other team exits are expected in the near future. Hargreaves Lansdown triples number of new clients in three months But despite this reassurance, Hal Cook, senior investment analyst at Hargreaves Lansdown, said the firm's «co...

Stocks saw their best three-day rally since November, fueled by speculation the Federal Reserve will be able to cut interest rates this year.

Deepak Nitrite surged 4.8% after Morgan Stanley gave a 'double-upgrade' in its rating on the stock to overweight. The brokerage set a price target of ₹2,985 on the stock, implying an upside of about 16% over its Monday closing price of ₹2,560.5. The brokerage said Deepak Nitrite is in the midst of its largest investment cycle, transitioning into India's largest, integrated phenolics producer.

There are many things which keep people in the investment banking industry.  Money, forexample.  Also, the prospect of more money, and the threat of losing deferred money. There’s also interesting work and pleasant colleagues, for some lucky bankers.  But, as former Goldman Sachs banker Cassindy Chao is refreshingly honest to admit, another thing that keeps people in the industry when they might otherwise be tempted to get out is the sheer psychological trauma of seeing friends and acquaintances get much richer than you. This is especially so when those people were formerly your juniors. 

Check out the companies making headlines in midday trading:

European stocks tracked a tech-driven rally in Asia as investors awaited a critical US jobs report due later on Friday. The yen surged to a three-week high.

U.S. stocks closed higher and trimmed their losses for the week

McKinsey & Company, known as a "CEO factory," is facing scrutiny from the Department of Justice (DOJ) for its past advice to opioid companies on sales strategies, as reported by The Wall Street Journal. Notable alumni include Sundar Pichai, CEO of Google's parent company Alphabet, Sheryl Sandberg, former COO of Meta Platforms, John Malone, chairman of Liberty Media, James Gorman, ex-CEO of Morgan Stanley, and Delphine Arnault, an executive at Louis Vuitton. Other prominent figures, such as Transportation Secretary Pete Buttigieg and Sen. Tom Cotton, also had stints at the firm.

As the working week drew to a close in Frankfurt, Deutsche Bank AG’s Christian Sewing was on a roll. Upbeat first-quarter earnings had sent the lender’s shares to the highest level since 2017, bolstering a perception that the firm had finally shaken off its scandal-prone past.

Raymond James has strengthened its national presence with the addition of two financial advisors in Florida and New Mexico.

₹340 crore, due to slower revenue growth and a reduction in margins. Its revenue grew 5 percent YoY to ₹2,537.5 crore. In terms of margins, management expects a "slightly muted" performance in the near term as the company invests in critical areas for future growth.

made minority equity investments into FMX Futures, valuing it at $667 million, BGC said in a statement on Thursday. FMX currently offers trading in cash U.S. Treasuries and spot currencies.