HSBC Financial News

HSBC has raised its price target on Zomato to ₹120 from ₹102 while retaining its buy rating, citing improved growth and profitability prospects for instant grocery delivery service arm Blinkit. The revised price target implies a return of about 20% from Wednesday's closing price of ₹99.88. HSBC has valued Blinkit at $5 billion.

Stratos Wealth Holdings has bolstered its senior leadership team with a new chief operating officer.

Zomato, CLSA maintained an underperform rating on UltraTech Cements, Motilal Oswal has a buy on M&M Financial Services and Prabhudas Lilladher recommends a buy on Navneet Education.We have collated a list of recommendations from top brokerage firms from ETNow and other sources: HSBC on Zomato: Buy| Target Rs 120 HSBC maintained a buy rating on Zomato but raised the target price to Rs 120 from Rs 102 earlier. A deep dive into hyperlocal further raises our conviction on the long-term value of Blinkit, said the HSBC note. The value for Blinkit is now at $5 billion. In the next 3-4 years, HSBC believes that Blinkit can achieve 6-7% contribution margin (CM) and 3-4% EBITDA margin. Hyperlocal could be a much bigger business for Zomato in the long term.CLSA on UltraTech Cements: Underperform| Target Rs 8400 CLSA maintained an underperform rating on UltraTech Cements but raised the target price to Rs 8400 from Rs 7900 earlier. The global investment bank expects the company to report industry-leading growth and profitability.

RR Kabel has received a regulatory nod to raise funds through an IPO. The company said it has secured a final observation letter from the market regulator. In Sebi's parlance, a final observation letter is equivalent to an approval.

₹225 crore through an initial public offering (IPO). RR Kabel is a part of the RR Global Group and has been in operation for over 20 years.

HSBC analysts have weighed in on the markets after the Jackson Hole event, which makes one of the key near-term risks “out of the way.”

By Shashwat Chauhan

Narendra Modi. Afterwards, the B20 presidency will be handed over to Brazil on Sunday. Before the second day of the B20 summit begins at 10:00 am on Saturday, know about the full schedule of the day and the eminent panellists joining different sessions on Saturday.

Nirmala Sitharaman on Thursday launched HSBC India’s strategic partnerships to enable innovation in green hydrogen, partnering with the Indian Institute of Technology, Bombay and Shakti Sustainable Energy Foundation (SSEF), the bank said in a statement. These two partnerships, with total grant support of ₹15 crore ($2 million), the bank said, will focus on innovation projects that will help prioritize green hydrogen as a strategic alternative fuel and help build a robust green-hydrogen economy.

Transparency matters, especially where investor money is concerned. But, not all fund houses are transparent about all their decisions. In March, market regulator Securities and Exchange Board of India (Sebi) shot off a show-cause notice to L&T Mutual Fund, seeking justification for some of its fund management decisions.

Finance Minister Nirmala Sitharaman on Thursday said the government is aiming to make India a global hub for production, utilisation and export of green hydrogen. Speaking at the launch of HSBC India's strategic partnerships towards enabling innovation in Green Hydrogen, the minister said the government is focused on driving green growth through a range of green reforms. The initiative, she said will provide a roadmap towards reducing carbon intensity in the economy and enable the creation of green job opportunities. «Green hydrogen has a pivotal role to play as we counter climate change and work towards enabling a low-carbon and self-reliant economy.

Despite higher provisions for credit losses and a quarter in which “everything went against” Royal Bank of Canada’s City National franchise in the United States, the bank beat third-quarter earnings estimates, aided by lower taxes and strong performance in Canada including growth in loans, deposits and credit card balances in the three months ending July 31.

More than 40 banks have piled into data centre operator AirTrunk’s $4.6 billion novel debt deal linked to its carbon, energy and water usage, snapping a lacklustre year for Australian borrowers in sustainable financing markets.

HSBC. Amid general concerns around the global slowdown, the investment bank said India's earnings should stand out in the current fiscal and will likely act as a key catalyst for markets. After relative underperformance for the first two months of the year, India has been the best-performing market since March. The FTSE India index is up 16.7% in USD terms as of 21 August, led by FII flows, strong earnings outlook and relatively stable macro conditions. «Even as global growth concerns escalate, India still stands out, but earnings resilience is key to sustaining positive momentum,» HSBC said. For HSBC's coverage universe, average sales, EBITDA and PAT grew by 6%, 21% and 42% year-on-year, broadly tracking expectations, aided by margin expansion as key commodity costs declined.

tumbled into deflation. A strangely slow official response, and a property crisis that is going from bad to worse, have provoked fears of a prolonged downturn. What happens in the world’s second-largest economy matters everywhere else.

ISTANBUL (Reuters) — Turkey's central bank is expected to raise its policy rate to 20% this week, a Reuters poll showed on Monday, though some economists expect a smaller increase after hikes in previous months remained below expectations.

Investing.com — U.S. futures traded higher Monday, starting a new week on a positive note as investors await news from Federal Reserve Chair Jerome Powell at the Jackson Hole symposium.

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NEW DELHI : The government has taken several steps to tame inflation, including supply-side measures such as releasing substantial cereal stocks from reserves, proactive import-export management of pulses to ensure supplies and restriction of exports of rice and sugar, finance secretary T.V. Somanathan said. The government is open to using trade policy measures, as and when required, to curb inflationary pressures further, Somanathan said.

UBS Group AG plans to rebuild its team in India as it prepares to create more products to compete for managing the wealth of rich Indians. The bank, which returned to the private wealth market with its rescue takeover of Credit Suisse two months ago, plans to add at least seven relationship managers to bring its total advisory strength in India to about 25, according to people familiar with the matter.

startups with medical-device alternatives to medications for brain diseases that are common but difficult to treat. They include implants, known as brain-computer interfaces, designed to restore functions lost to disease or injury. One such company, Elon Musk’s Neuralink, recently disclosed a $280 million venture round.