Fitch Financial News

₹603 billion by FY27 from ₹490 billion in FY23 as its core capex remains high and green investments increase.

consumer spending and business investment," the Mint report said. Read more: US Q2 GDP growth revised down to 2.1% annual rate from 2.4% India remains one of the fastest-growing large economies in the world and is expected to witness healthy growth in the current financial year. Experts say while the latest growth prints of major economies of the world show some signs of pressure, the Indian economy is shining.

Morgan Stanley upgraded Abercrombie & Fitch (NYSE:ANF) to Equal-Weight from Underweight, raising the price target for the stock to $51 from $18 per share.

TrendMacro chief investment officer Don Luskin says a growing economy is 'like a growing boy' on 'Making Money.'

Stocks that traded heavily or had substantial price changes Wednesday: Urban Outfitters, Apellis rise; Foot Locker, Peloton Interactive fall

The aggregate dividend payout by the Indian banks to shareholders in fiscal year 2023-2024 will increase to its highest level in at least seven years, said a report from S&P Global Market Intelligence. The growth in dividend payout will be on the back of strong business metrics and healthy credit growth, said the report.

generic drug names faces execution challenges, said Fitch Ratings in a report on Thursday. The report said that a sizeable erosion in branded generics sales share will affect Indian pharma companies’ profitability, as sharply lower average prices will outweigh potential benefits from lower marketing costs. «Even so, we think the new guidelines are unlikely to trigger an immediate shift away from branded generics,» it said. According to Fitch, the domestic pharmaceutical market is mainly a ‘branded generics’ market in which pharma companies sell off-patented drugs under their own brand names with varying prices among competitors. «Branding and marketing activities remain important in pharma companies’ sales strategy, considering less stringent quality and testing standards than other regulated markets such as the US.

Stocks that traded heavily or had substantial price changes Wednesday: Urban Outfitters, Apellis rise; Foot Locker, Peloton Interactive fall

Check out the companies making headlines in midday trading.

By Elizabeth Pineau

(Reuters) -Abercrombie & Fitch raised its forecast for annual sales on Wednesday, betting that newer styles at its Abercrombie label and improved assortment at Hollister would pull more shoppers even as consumer spending remains pressured in the U.S.

Investing.com -- Shares in Abercrombie & Fitch (NYSE:ANF) soared in premarket trading on Wednesday after the clothing retailer lifted its full-year sales outlook thanks in part to strong demand for its Hollister brand that has defied broader consumer spending pressures.

equity market capitalisation marginally to 17.33% for the quarter under review from 17.27% for the March quarter. After pulling out funds to the tune of $3.2 billion from the Indian equities in the March quarter, FPIs took a sharp U-turn in the three months ended June and made a strong comeback with a net investment of $12.5 billion, the report said. "The flows were largely driven by the prospects of interest-rate direction in the US, how the global inflation numbers were shaping up, and China's economic woes, along with domestic indicators.

Morningstar report. This could be attributed to good performance in the domestic equity markets as well as strong net inflows from foreign portfolio investors (FPIs). According to the report, the value of FPIs' investments in Indian equities rose from USD 523 billion as of June 2022 to USD 626 billion at the end of June 2023.

Indian stock market is expected to open lower on Friday following selloff in global markets as rising treasury yields weighed on investors’ risk appetite. The Asian markets traded lower following an overnight decline on Wall Street after the treasury yields spiked. Concerns over China’s economic slowdown resurfaced and sentiment weakened after property developer Evergrande filed for bankruptcy protection in the US.

Investing.com — Minutes from the Federal Reserve's latest policy meeting suggest that officials at the U.S. central bank were divided over their eventual decision to hike interest rates in July. Meanwhile, policymakers hinted that further increases in borrowing costs may be needed in the future to subdue inflationary pressures, sending stocks lower and Treasury yields higher. Elsewhere, Walmart is expected to lift its full-year forecast when the big-box retailer unveils its latest quarterly earnings Thursday.

Investing.com — European stock markets traded lower Thursday on growing worries around China’s stuttering economy and the potential for higher U.S. interest rates.

Investing.com-- Most Asian stocks fell on Thursday after hawkish signals from the Federal Reserve spurred deep losses in technology stocks, while weak economic readings fueled more concerns over a Chinese economic slowdown.

Investing.com-- Fitch Ratings may consider rethinking China’s A+ sovereign credit rating amid growing economic headwinds to the Asian giant, especially if corporate debt conditions worsen in the country. 

Sensex and Nifty closing marginally higher. “The market has been witnessing pressure on account of weak global cues especially because of the faltering of the Chinese economy and Fitch's warning to downgrade US midsized banks. Even on the domestic front sharp surge in inflation data and weak monsoon progress in the month of August 2023 seems to have dented the investor's sentiments," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

«The market has been witnessing pressure on account of weak global cues especially because of the faltering of the Chinese economy and Fitch's warning to downgrade US mid sized banks. We expect this weakness to persist in the market in the near term in the absence of any positive trigger,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Option data suggests a broader trading range in between 19000 to 19800 zones while an immediate trading range in between 19200 to 19600 zones. Here's breaking down the pre-market actions:STATE OF THE MARKETSGIFT Nifty (Earlier SGX Nifty) signals a negative startGIFT Nifty on the NSE IX traded 23 points, or 0.12 per cent, lower at 19,389, signaling that Dalal Street was headed for negative start on Thursday.