Morgan Stanley News

Some steelmakers in Canada and Mexico are telling customers that they are refusing new orders to the United States on concerns that President Donald Trump soon will reimpose duties.

Q3 earnings, Bharat Petroleum Corporation Ltd. (BPCL) continues to attract attention from global brokerages. CLSA has upgraded BPCL’s stock to ‘Hold’ from ‘Underperform,’ while Morgan Stanley maintains its bullish stance with an ‘Overweight’ rating. CLSA has set a target price of Rs 270 for BPCL, noting a manageable impact on the company’s gross refining margin (GRM) from U.S. sanctions on Russia. The brokerage also highlighted a 24% correction in BPCL's stock since October 2024. While CLSA has lowered its earnings estimate by 3% for FY25, the firm expects the government to largely compensate BPCL for its LPG losses in the upcoming Union Budget.

data analytics startup's expansion plans and new product development.

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Subscribe to enjoy similar stories. MUMBAI : Two major investors in business-to-business (B2B) marketplace OfBusiness, Alpha Wave Global and Z47 Partners (formerly Matrix Partners India), are set to make partial exits worth $100 million in the next six to nine months, as the company prepares for its public listing later this year, according to co-founder and CEO Asish Mohapatra. The shares will be sold to high-net-worth individuals (HNIs) and family offices, Mohapatra told Mint, without disclosing details about the buyers.

Reliance Industries Ltd, India's most valuable company, is back on a growth path after six months of challenges as it posted better than expected earnings in the December quarter, brokerages said. Oil-to-telecom-and-retail conglomerate's highest-ever EBITDA of Rs 43,800 crore in October-December 2024 — the third quarter of April 2024 to March 2025 fiscal (FY25) — best estimates on strong showing across segments. In particular, this was driven by strength in oil-to-chemical (O2C), which is made up of oil refineries and petrochemical plans, and recovery in consumer retail.

U.S. stock indexes drifted lower following a mixed set of earnings reports from Morgan Stanley, UnitedHealth Group and other big companies

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PB Fintech, the parent company of Paisabazaar and Policybazaar, tumbled 6.7% in Monday’s intraday trade to a low of Rs 1,730.50 after global brokerage firm Morgan Stanley downgraded PB the stock’s rating to «Underweight» with a target price of Rs 1,400. Morgan Stanley has previously assigned an «Equal Weight,» rating to the stock. Additionally, the stock's target price indicates a potential for a 24% downside from Friday's closing price.

Tata Consultancy Services (TCS) led the rally in large-cap information technology shares, as investors were encouraged by the country's largest software exporter's commentary on the demand outlook after its third-quarter results. The Nifty IT Index gained 3.4% on Friday, led by a 5% jump in TCS shares. The company posted a 12% increase in net profit in the December quarter compared to the previous year.

JPMorgan Chase & Co. is leaving a major climate finance group, becoming the last of Wall Street’s biggest banks to walk away.

Morgan Stanley & Co. LLC terminated its membership of a major climate-banking group, joining a wave of Wall Street firms that recently quit a global alliance intended to aid the reduction of greenhouse-gas emissions.

Subscribe to enjoy similar stories. U.S. megabanks want to leave behind some green finance pledges in 2024.

Subscribe to enjoy similar stories. New Delhi: Bengaluru-based iBus Networks is aiming for a revenue of ₹2,000 crore in the next four to five years, with Ebitda (earnings before interest, taxes, depreciation and amortization) of ₹500 crore, as it looks to become an infrastructure tech company by offering digital solutions for last-mile connectivity. Ram Sellaratnam, co-founder and chief executive officer (CEO) at iBus Networks, told Mint in an exclusive interaction that the company was looking at Ebitda of around ₹120 crore by FY26, with a revenue ₹400-450 crore.

Subscribe to enjoy similar stories. In the continuing chip war between Washington and Beijing, the U.S. has the clear upper hand on the most cutting-edge technology.

In case you hadn’t heard, 2025 is shaping up to be a good year for investment bankers. It’s not just rhetoric, either – they’re putting their money where their mouth is and hiring in anticipation of it, too.

Federal Reserve. A key stock benchmark for the region climbed, as did shares in Australia and Japan. South Korean equities fell, while futures for Hong Kong stocks pointed to a decline. The moves came after a positive session on Wall Street, where the Nasdaq 100 gained more than 1% to reach another record high.

Subscribe to enjoy similar stories. Scale is crucial in the wealth-management business, but it needs to be the right kind of scale. Managing money for the rich is today’s golden goose in banking, because it generates stable fees and has low capital requirements.

LG Electronics Inc. is considering increasing the valuation of its Indian unit to as much as $15 billion in a planned listing in Mumbai next year after initial feedback from analysts and investors, according people familiar with the matter. The South Korean company is planning to start a formal roadshow for LG Electronics India Pvt.’s IPO within the next two months and is targeting a listing in the first half of 2025, the people said, asking not to be identified because the information is private. The company had earlier eyed a valuation of around $13 billion, Bloomberg News reported in September.

Axis Bank's latest report warns that inflation in India is unlikely to ease quickly, as both core and food price indices are expected to remain closely linked. Despite food prices and vegetable costs being at cyclical highs, the report highlights that supply responses may lag the demand boost driven by income-transfer schemes. «In India, we do not see inflation easing quickly: over the long term, core and food price indices move together. Though food relative to core, and vegetables relative to food, are both at cyclical highs, the supply response may lag the demand boost from income-transfer schemes,» said the report titled " India Economic and Market Outlook 2025 ". ALSO READ: India's CPI inflation likely to ease to 5.5% in Nov from 6.2% in Oct: Morgan Stanley

foreign institutional investors (FIIs) are taking reverse steps to buy back more than what they sold last month. As against the $2.5 billion sell-off seen in November, FIIs have already bought Indian stocks worth around $3 billion in the first 10 days of the December month. As a result, the Nifty is already up around 2% this month with bulls betting that the momentum could turn into a strong Santa rally and take the market to new record peaks in the next few weeks before the Budget.