Morgan Stanley News

Muthoot Microfin has raised Rs 285 crore by selling part stake to anchor investors in the pre-IPO placement. The company has allocated 97,93,812 shares to 26 anchor investors. These include foreign portfolio investors like Morgan Stanley, Societe Generale, Copthall Mauritius Investment.

Infosys will announce its quarterly results for the three and nine months ended December on January 11, the company informed the exchanges. «A meeting of the Board of Directors of the company will be held on January 10 and 11, 2024, inter alia to approve and take on record the audited consolidated financial results for the quarter and nine months ending December 31, 2023,» the company said in a filing. In the second quarter, the Bengaluru-based company reported a 3% growth in consolidated net profit at Rs 6,212 crore. Consolidated revenue grew nearly 7% YoY to Rs 38,994 crore. In an unexpected move, the software major tweaked its guidance for FY24 in the September quarter.

Key Advisors Wealth Management co-founder and CEO Eddie Ghabour discusses the state of the consumer ahead of the 2023 holiday shopping season on 'Varney & Co.'

Bain Capital is likely to sell a minor stake worth Rs 3,700 crore in Axis Bank through a block deal on Wednesday, according to media reports. Entities owned by the private equity firm are likely to sell 3.34 crore shares, representing 1.1% stake in the lender. The floor price for the sale has been set at Rs 1,109 a share, a discount of about 2% from the current market price.

Investors in Chinese stocks next year will be seeking out businesses with global reach or other insulation from an economic downturn, after three straight years of China underperforming world markets. Companies in defensive sectors such as health, medical innovation and exporters in the electric vehicles supply chain and advanced manufacturing, as well as multinationals such as e-commerce firm PDD Holdings, will top the list. That's despite sell-side analysts turning bullish on China's broader market for next year, with Morgan Stanley and Goldman Sachs forecasting Chinese equities to outperform the S&P 500. «Since economic recovery is slower than expected, we lowered exposures which are sensitive to macro cycles,» said Wang Qing, chairman at Shanghai Chongyang Investment Management. Chongyang is instead buying defensive high-dividend stocks, medical innovators with global competitiveness, and advanced manufacturing backed by Beijing, Wang said, declining to list any investments by name. This follows China's blue chip CSI300 index sinking to five-year lows and losing 12% over 2023 against a 15% gain for global stocks as the Chinese economy struggled with a property crunch and a slow recovery from COVID-19. Hong Kong's Hang Seng fared even worse, sliding more than 18% to trade on a forward price-to-earnings ratio below six, against 21 for the S&P 500. Performance over the last 10 months crushed the optimism that infused the beginning of the year, with four straight months of foreign outflows in the second half of the year totalling a net 138 billion yuan ($19 billion) withdrawn from Chinese equities via the Stock Connect scheme. «Investors (have) struggled to think what the next growth driver for China will be,»

Morgan Stanley said steel shares may continue to underperform in 2024, as in 2023, citing weak global macro-outlook, higher domestic supply, and unattractive valuations. The brokerage said these stocks have lagged the market in 2023 despite a strong demand environment on slower-than-expected demand recovery in China.

₹24.60 crore from the upcoming public offer. Established in 2006, Shree OSFM E-Mobility Limited, formerly recognized as Om Sai Fleet Management (India) Private Limited, specializes in delivering employee transportation services to prominent multinational corporations (MNCs) with a widespread presence in major cities throughout India. The company has offices in 42 sites in cities like Mumbai, Navi Mumbai, Pune, Bengaluru, and Kolkata.

(Reuters) — Fast fashion firm Shein has held talks with the London Stock Exchange about the possibility of a public listing in the United Kingdom, Sky News reported on Monday, citing sources.

Morgan Stanley has moved its industry view on Semiconductors from In-Line to Attractive, adjusting its ratings on three stocks in the sector in a note this week.

First Solar (NASDAQ:FSLR) gained over 3% in early trading Friday after Morgan Stanley upgraded the stock following the 20% correction over the past three months.

Barclays, which is in the process of devising a new strategy that may not, but should really, mean a lot of job cuts in its investment bank, is also making some promotions. In apress release yesterday, it said it had promoted 81 managing directors in its investment bank, down from 85 last year. 

If you work in UK high yield or leveraged finance and you're concerned about your job security, then hang in there. After a terrible year for both markets in 2023, today'sFinancial Stability Report from the Bank of England suggests things will improve. But you might have to wait a few years.

Wells Fargo (WFC) had to make some tough calls to stay on course with its turnaround plan. It's one of three industry developments that impact Wells and our other bank name, Morgan Stanley (MS).

HDFC Bank and Sun Pharma as well as on HUL. Meanwhile, Morgan Stanley recommended an Equalweight rating on Paytm. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Macquarie on HDFC Bank: Outperform| Target Rs 2110 Macquarie maintained an outperform rating on HDFC Bank with a target price of Rs 2110.

JPMorgan Chase CEO Jamie Dimon delivered scathing remarks about the crypto industry during testimony at a Senate Banking Hearing Wednesday.

(Updated — December 6, 2023 12:11 PM EST)

Two advisors formerly affiliated with wirehouses have joined Raymond James & Associates, the broker-dealer’s employee advisor channel, in South Florida,the firm announced Tuesday.

UBS has added four advisors to its U.S. head count, including a former senior banker at J.P. Morgan Private Bank.

Hedge funds made adjustments to their positions last week, reducing bullish bets on major tech stocks and increasing short positions, according to Morgan Stanley's quant strategists.

By Joe Cash

Smead Capital Chief Investment Officer Bill Smead discusses which stocks could be big winners in 2024 on Making Money.