Cycling Financial News

Apple didn’t need any more trouble, but trouble has had a way of finding the iconic tech giant lately. The Justice Department sued Apple on Thursday, accusing the company of monopolistic behavior over the way it runs its iPhone business. “We allege that Apple has employed a strategy that relies on exclusionary, anticompetitive conduct that hurts both consumers and developers," Attorney General Merrick Garland said in announcing the case.

Gautam Duggad, Head Of Research — Institutional Equities, Motilal Oswal Financial Services, says that while valuations are expensive for mid and smallcaps, it is not correct to say that the entire mid and smallcap basket is frothy. The midcap index right now is trading at around 30% premium to Nifty. Nifty is trading at close to 19-19.5 times one year forward now and midcap index is trading at somewhere about 27 times which obviously is very expensive. Smallcaps are also trading at expensive valuation at an index level. Versus Nifty, on a 10-year basis, the long-period discount for smallcaps is 24%. Today it is trading at a 10% premium to largecap. Duggad also says the market has respected the underlying earnings growth. When earnings were tepid for 10 years between FY10 and FY20, the market was also tepid. In last four years, earnings have done well, so markets have also done well. You have a very wide universe of stocks which you track among all the brokerages and it is only becoming wider. A lot of midcap and smallcap stocks are represented in your universe. The entire argument that smallcap, midcap rally so far was not broadly justified and there was frothy valuations and earnings. What is the reality of the earnings? What part of the smallcap, midcaps are showing strength in earnings and which part is actually falling back? Gautam Duggad: It is always very simplistic to paint the market or any segment of the market with one brush.

Tube Investments of India Ltd. rose 0.79 per cent to Rs 3741.1 in Friday's trade. It hit an intraday high of Rs 3748.0 and low of Rs 3676.45, respectively, during the day. The stock quoted a 52-week high price of Rs 4120.8 and low of Rs 2432.0.

Also Read: EMI bounce rate improves to a five-year low indicating no material signs of risk build-up It noted that some of the banks have reduced the excess cash on the balance sheet to fund credit growth in the recent period, thereby delaying deposit growth and protecting margins. However, it believes most of these levers are now largely exhausted and, thus, banks will have to mobilize deposits to incrementally fund credit growth.

Investing.com-- Most Asian currencies fell sharply on Friday, coming under pressure from a rebound in the dollar as an unexpected interest rate cut by the Swiss National Bank pushed currency traders squarely into the greenback.  

banks could be chosen for accepting fixed deposits and guarantees that back the trading and settlement in the equity market, according to a proposal under discussion between Sebi and institutions such as stock exchanges and clearing houses. The idea is being explored to strengthen the market ecosystem amid a surge in trading volumes and faster turnaround of securities and money in the wake of shorter settlement cycles.

trade settlement process to be launched on March 28 will be optional and limited to a few stocks. This 'beta version' is aimed at ensuring that the shorter settlement cycle functions smoothly before its full-fledged launch.

By Alden Bentley, Alun John and Tom Westbrook

Turkey’s central bank has raised its key interest rate by 5 percentage points, resuming a policy of rate hikes aimed at combating soaring inflation that is causing households severe economic pain

midcap stocks hold potential to deliver decent growth. HSBC has identified 8 midcap stocks, which could give up to 58% returns. The Hong Kong-based brokerage argues why it considers them a safe bet. HSBC has dispelled fears of a deeper correction in midcaps from here, like what happened in 2018 when the BSE Midcap index fell by over 13%. It said many midcap stocks have even corrected 35-50% with valuations coming down to the 5-year mean. Moreover, the midcap market breadth has declined to 73% from 90%+ at the beginning of the year (versus 60% which is the normal cycle average breadth). This signals a limited downside.

interest rate on Thursday, resuming its tightening cycle as one of the world's highest inflation rates rose again last month. The bank's monetary policy committee decided to raise the policy rate from 45 percent to 50 percent, with a statement citing «the deterioration in the inflation outlook».

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Flipkart has made a one-time change to its increment policy this year, giving merit-linked payouts to all eligible employees in Grade 12 (mid-management) and below, instead of the usual pay hikes. In effect, employees will get two lump sum payments in April and October this year, equivalent in value to the salary increase that would have otherwise been paid out throughout the year. About 19,000-20,000 employees would benefit from this, a Flipkart executive told ET. The company will also roll out 100% bonuses to all its employees this year. Employees who are promoted will receive increments as usual, across grades. For the rest of the grades, the company has enabled wider spread of ESOP allocation to drive wealth creation.

By Jamie McGeever

MUMBAI : E-commerce platform Flipkart has rejigged its increment policy, splitting annual salary increases into two tranches rather than have those reflecting in an employee’s pay structure. In an effort to plug attrition, especially at the senior levels, the company will also roll out 100% bonuses to all its employees. According to a senior Flipkart executive, the Bengaluru-based e-commerce firm has detailed out the new compensation structure to its employees in a letter, which Mint has reviewed.

Indian Banking sector is structurally in stronger shape to ride the retail credit growth story over the next decade, amid rising consumerism. However, funding such growth via retail deposits at a reasonable cost among rising structural disruptions could emerge as the biggest challenge, said domestic brokerage firm Emkay Global Financial Services in its latest banking analysis report.

European shares scaled to record-high levels on Thursday, boosted by basic resources-linked stocks and a strong risk appetite, while traders await a raft of economic data from the euro zone and the United States. The pan-European STOXX 600 index was up 0.8% at 509.96, as of 0818 GMT.

Read here: Bull run ends here! Phillip Capital sees Nifty 50 falling 15% to 18,550 Amid widespread concerns over froth formation in the Indian equity market, the brokerage stands out with a contrarian perspective. While many voices express apprehension, the brokerage contends that the Nifty 50 and Nifty Largecap 100 are presently fairly valued. In contrast, it sees substantial upside potential in the Nifty Smallcap 250 index.

By Leika Kihara and Tetsushi Kajimoto

U.N. agencies have warned that waste from electronics is piling up worldwide while recycling rates remain low and are likely to fall even further

brokers are recommending to investors with a high-risk appetite to make fresh investments in such stocks or schemes that invest here. Strength in earnings growth and decline in share valuations in the mid-cap and small-cap segments following the recent drop in stock prices are some key reasons for holding them or buying them afresh. Motilal Oswal Asset Management said in a note that the valuation premium that mid-cap and small-cap indices held over Nifty has halved to 14% for both against 24% and 29%, respectively.