Cycling Financial News

Globalization and disappearing trade boundaries are things of the past, with countries turning inwards, while wars are taking on an economic avatar with trade barriers and tariffs.

Subscribe to enjoy similar stories. Bengaluru/Mumbai: Private equity firm Multiples is looking to launch a $300-400 million continuation fund to remain invested in three of its portfolio companies, three people familiar with the matter told Mint. "The assets include Vastu Housing Finance, APAC Financial Services Pvt Ltd and Quantiphi," one of the people cited above said.

Subscribe to enjoy similar stories. Bengaluru: Shorter deal tenures, more frequent renewals—that is the scenario India’s top software services companies are likely to face going forward. Independent experts said the shorter tenures are a result of economic uncertainty in advanced markets and the fast-changing nature of modern technologies, and could pose challenges to the IT services companies.

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.

Subscribe to enjoy similar stories. Deciding to focus on your fitness is as much about knowing your body, as it is about wanting to change it according to your goals. The more you know about it, the better you can plan the approach.

Signs of a burgeoning housing rebound fell flat as temperatures cooled across the country in December, but the Canadian Real Estate Association sees the stars aligning for a busy spring market.

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Sampath Reddy, Founder & CIO, Azurean Investment Managers, says mid and smallcap banks or NBFCs or some of the affordable housing lenders may have the potential for much bigger returns, but the risks are also higher there. Within the overall lending space, he would prefer to stick to the larger private sector banks compared to NBFCs and other lenders. What is your reading of the market? Do you think much of the global and domestic parameters are in the price or could there be some more downticks in the days to come? Sampath Reddy: It is a little difficult to say how the excess valuation that is there in the mid and smallcap segments will be readjusted. Even with the yesterday's fall or last few days' fall, mid and smallcap companies, broader valuations of that segment as such still on the higher side, whether it will be a prolonged time correction or an accelerated growth in earnings, which way it will bring the overall multiples of the mid and smallcap segments is difficult to say but at this point of time with whatever the correction that we have seen so far, largecap segment looks very-very attractive.

'Kudlow' panelists EJ Antoni and Jim McLaughlin unpack the push to prioritize the Trump tax cuts.

Vinod Karki, Equity Strategist, ICICI Securities, says the recent market correction appears to be primarily a response to the significant increase in US bond yields. Additionally, there are certain risks associated with economic growth, as evidenced by a noticeable deceleration in the economy. However, we attribute much of this slowdown to temporary factors such as elections and rainfall, which are likely to result in a postponement of demand until the latter half of this year. The predominant concern remains the escalation of bond yields and the prevailing optimism surrounding Trump, both of which have influenced market dynamics. Vinod Karki further notes that, in terms of overall market value, two sectors are distinctly prominent: large financial institutions and commodities. What is your take on the market fall on Monday because this is definitely getting on our nerves. Firstly, it hit the traders, breaching the key support levels, and now the investors are a little concerned about the fall. What is your take on the fall that we are witnessing? Is it a healthy correction or do you believe something has really changed in terms of the narrative? Vinod Karki: Fundamentally, the key reason why this is happening is the surge in US bond yields.

On the BSE, Sangam Renewables(down 20.00 per cent), Sayaji Hotels(down 16.05 per cent), Welspun Investments (down 15.12 per cent), Empire Ind(down 14.45 per cent) and Spectrum Foods(down 13.82 per cent) stood among the top losers in today's trade.

Domestic benchmark index NSE Nifty ended 345.55 points at 23085.95, while the BSE Sensex closed 1048.9 points down at 76330.01.

stocks rallied as much as 15% in Mumbai trading on Monday even as equity benchmarks, BSE Sensex and NSE Nifty, traded in the amid brisk in frontline bluechip counters. Stocks that surged in excess of 15% included, Sri Chakra Cement(20.00%), Palash Securities(17.18%), Centenial Surg(16.23%) and AVI Products India (15.81%).

On the BSE, Betex India(down 12.24 per cent), Goblin India(down 12.00 per cent), Sangam Renewables(down 11.67 per cent), Vishvprabha Ventures(down 11.23 per cent) and Purple Entertainment(down 10.21 per cent) were among the stocks that plunged over 5 per cent during the session.

Stocks that rallied over 10% included, J. Taparia Proj(12.85%) and Keerthi Ind(10.80%).

Those running Global Capability Centres (GCCs) in the country are paying out the highest increments, though it will still be marginally lower than last year, showed data shared exclusively with ET by Deloitte India. Average pay hikes will range about 8.8% across MNCs in India compared to actuals of 9% last year. Also, most of the around 100 companies surveyed have a slightly lower salary projection for the FY25 cycle, ranging at 0.1-1.1 percentage points less than FY24, based on the industry. “Pay increase projections are lower compared to FY24 and this is largely because businesses aren’t doing well across most sectors,” said Anandorup Ghose, partner at Deloitte India.

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.

Federal Reserve Governor Michelle Bowman said Thursday she supported the recent interest rate cuts but doesn't see the need to go any further.

Subscribe to enjoy similar stories. IT bellwether Tata Consultancy Services Ltd (TCS) is set to begin the third-quarter earnings season. However, Indian companies are bracing for another quarter of muted growth as the December quarter preview by leading brokerages suggests that the earnings slowdown seen in the first half of 2024-25 is far from over.

Following the standard T+1 settlement cycles in Indian stock markets, today marks the final trading day for investors to purchase Shriram Finance shares to be eligible for the stock split.