Morgan Stanley News

HPCL/IOL: Minister of Petroleum and Natural Gas, Hardeep Singh Puri stated on 30 August that the government would bear the cost of the promised ₹200 price decrease on household cooking gas cylinders, relieving the oil marketing companies of the impending loss of ₹7,500 crore. As a gift for the women in advance of Raksha Bandhan, the Union Cabinet on Tuesday lowered by 200 rupees the price of a 14.2 kilogramme LPG cooking gas cylinder. The decision was made as criticism of the Centre for its handling of rising inflation has grown.

ZomatoMarquee investors including Morgan Stanley, Nomura, Kotak Mahindra MF, among others picked up stake in Zomato in block deal on Wednesday.ZEEQuant Mutual Fund has sold 48.1 lakh shares in Zee Entertainment Enterprises through bulk deals on Wednesday.Sula VineyardVerlinvest Asia Pte is looking to offload up to 12.5% stake in Sula Vineyard through block deals on Thursday, according to reports.Read more: What changed the market while you were sleepingMahindra LogisticsThe company's board has approved the appointment of Saurabh Taneja, as Chief Financial Officer and Key Managerial Personnel with effect from September 1.Natco PharmaNatco Pharma has invested $2 million in Delaware-based ISCA for bio control of pests.BHELBHEL has secured an order from NTPC for setting up the 2x800 MW supercritical thermal power project stage-II at Lara in Chhattisgarh through international competitive bidding.Fortis HealthcareFortis Healthcare has reached an agreement to acquire a multi-speciality hospital in Haryana for Rs 225 crore.NTPC The Board of NTPC has approved Rs 15,530 crore investment for 1,600 MW lara super thermal project.

₹947 crore ($114.7 million), news agency Reuters quoted exchange data. Part of Japan's SoftBank Group, the venture capital sold 100 million shares at 94.7 rupees apiece in bulk deals, the report added. According to the data from the National Stock Exchange, the firms who bought Zomato shares include International Monetary Fund, Morgan Stanley Asia Singapore, Societe Generale, Goldman Sachs (Singapore), Invesco Mutual Fund and Kotak Mahindra Life Insurance.

SoftBank sold a partial stake in food delivery platform Zomato through bulk deals on Wednesday. The transaction was done at Rs 94.7 apiece, taking the deal value to Rs 947 crore. According to exchange data, SoftBank Vision Fund has offloaded 10 crore shares or 1.17% stake in the company as the lock-in for the post-Blinkit deal ended this week.

The $17.4 billion Grayscale Bitcoin Trust rallied the most since July 2021 after a US court ruling potentially paved the way for the vehicle to convert into an exchange-traded fund.

MUMBAI : SoftBank’s Svf Growth (Singapore) Pte. Ltd is set to divest a 1.17% stake in Zomato Ltd on 30 August. The deal is expected to fetch ₹940 crore ($114 million) for the Japanese investor.

Morgan Stanley Advantage Services has renewed its lease for commercial office space in Bengaluru for about 136,000 square feet. The property, in Ecoworld on Outer Ring Road, was leased from RMZ Corp for 120 months with 15% escalation every three years. The company will pay a rent of Rs 116 per sq ft during the lease tenure, as per the lease renewal document shared by Propstack. Morgan Stanley is also preparing to relocate its existing India headquarters, operational for 13 years, to a larger office space in Mumbai, said people aware of the matter. The move reaffirms the American investment bank and financial services company’s growing headcount and footprint in the country. The company, which has operated in the country for about three decades, will relocate to a new office spread over about 86,000 sq ft in Altimus Worli.

A Richard Mille Co. watch is a powerful symbol of wealth for anyone who’s in-the-know enough to recognize its familiar contours.

Here is your Pro Recap of the biggest analyst cuts you may have missed since yesterday: downgrades at VMware, Celanese, Upwork, and Farfetch.

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Morgan Stanley analysts downgraded CrowdStrike (NASDAQ:CRWD) shares to Equal Weight from Overweight with a price target lowered by $11 to $167 per share.

Here is your Pro Recap of the biggest analyst picks and cuts you may have missed today: upgrades at Forward Air, Zimmer Biomet, and UGI, and downgrades at CrowdStrike and L3Harris Technologies.

Morgan Stanley Real Estate Investing (MSREI) has partnered with industrial and logistics real estate developer Prakhhyat Group to develop a warehousing project spread over 7 lakh sq ft in Bhiwandi near Mumbai. MSREI has invested around Rs 350 crore to acquire majority equity stake in the project One K-Square will be developed in the Mumbai-based warehousing major’s existing facility K Square Logistics Park. In September 2021, it closed a $3.1 billion real estate fund and has been investing across assets from that pool. It has so far invested in over 5.6 million sq ft of logistics assets across India’s key warehousing hubs. “Industrial and Logistics as an asset class is a high-conviction theme across our investment strategy and we are partnering with Prakhhyat Group to develop a top-class warehousing park in one of the strongest logistics clusters in the country,” said Anand Iyer, Vice President, MSREI India. This alliance marks MSREI’s entry in the Bhiwandi sub-market of Mumbai Metropolitan Region (MMR). “Our experience in this market has helped us establish a solid track record in the logistics space.

HAL and an underweight stance on Dixon Technologies. Antique initiated a buy coverage on Suprajit Engineering and Macquarie remains overweight on Delhivery. We have collated a list of recommendations from top brokerage firms from ETNow and other sources:Morgan Stanley on HAL: Overweight| Target Rs 4365Morgan Stanley maintained an overweight rating on HAL but hiked the target price to Rs 4365 from Rs 3471 earlier. India's aerospace industry has a long runway for growth, said the Morgan Stanley note.

China’s economy was meant to drive a third of global economic growth this year, so its dramatic slowdown in recent months is sounding alarm bells across the world. Policymakers are bracing for a hit to their economies as China’s imports of everything from construction materials to electronics slide. Caterpillar Inc.

Brent oil prices in July were up 14 per cent on the previous month, the biggest monthly increase since January 2022. Prices in August are trending about 3 per cent lower on the previous month as China demand worries weigh. China has also been drawing on record inventories amassed earlier this year as higher oil prices drive refiners in the world's biggest oil importer to scale back purchases, according to analysts quoted in the report.

Morgan Stanley expects Brent crude prices to be well supported around $80 per barrel as the oil market is likely to remain in a deficit in the second of half of 2023 before returning to a small surplus next year. «Strong refined products markets and deep OPEC cuts have been supporting crude oil prices,» analysts at the bank said in a note dated Thursday. Morgan Stanley raised its Brent price forecast for the third quarter to $85 per barrel from $75, and for the fourth quarter to $82.50 from $70.

(Reuters) -Klaviyo's revenue rose 51% for the recent quarter, the data and marketing automation company disclosed in its paperwork for a U.S. initial public offering (IPO) submitted on Friday.

telecom industry saw overall active subscribers decline by 0.6 million in June after six consecutive quarters of additions, dragged by Vodafone Idea's (VIL) highest loss of active subscribers — 2.5 million — in 10 months. This, analysts said, indicated continued market share shifts to stronger rivals Bharti Airtel and Reliance Jio, both having added active subscribers.

Thursday's selloff in U.S. stocks, despite another strong earnings report from Nvidia Corp (NASDAQ:NVDA), has led Morgan Stanley to suggest that this year's rally may be «exhausted» and could lead to further declines.