Lowe's Financial News

The data provided more evidence that inflation pressures were subsiding. Wednesday's CPI report showed U.S. consumer prices registered their smallest annual increase in more than two years.

«Similarly MFIs have been ignored for long but MFIs follow a cycle so if you get the cycle right the upside can be big.So MFIs and mortgage or housing finances within NBFCs where we are currently investing,» says Viral Berawala, Director, Buoyant Capital. Have you started buying pharma yet because that too is showing sparks that perhaps worst should be over, especially for generic exporters, pricing pressure and big demand for medicine in US.So there are sort of two buckets in which we have divided pharma. So there will be negative impact of lower chemical prices, especially the API prices have gone down. So within pharma which are very API driven is something we are not looking at but pharma where the exposure is more towards US generic, their prices have stabilised. The price erosion, normally what we are seeing this year, we are seeing much lesser price erosion. So within pharma, we like companies which are exposed more towards US generic and avoiding where the exposure is more towards APIs. In the auto, auto ancillary space, where all have you been looking for value? Anything which got you occupied there? So within auto, we are not into auto but especially auto ancillaries. So a couple of factors have played out in auto ancillary. Some of the auto ancillaries who are supplying to Europe, the cost of Europe auto ancillary manufacturers have gone down a lot, both tier-1 and tier-2. And that is where some of our, let us say forging companies have done very well. So within auto, that is the space we like. We participated a bit in the two wheelers but now we think the valuations are full on the two wheeler side. So auto ancillary, especially where there is some exposure to Europe, is we think a good place to be. Part of

«So I would think that a similar phenomenon could repeat going forward because outlook for most of these companies has not improved. It has actually deteriorated,» says Sandip Sabharwal, asksandipsabharwal.com.Surprised by the market's reaction to TCS or HCL Technology's numbers? The move that you saw on IT? This happens every time because people are inherently bullish on technology stocks especially the retail investor community as well as a large swath of fund managers. So what we have been seeing over the last two-three quarters is that every time results come out, there tends to be a worst is over kind of buying which happens in this sector.

Investing.com-- The Reserve Bank of Australia said on Friday that the government had named Michele Bullock as its next governor, making her the bank’s first female leader after incumbent governor Philip Lowe’s term ends in September.

By Wayne Cole

By Wayne Cole

stock market indices setting record highs, shares of two Gurugram-based new-age companies, Zomato and PB Fintech, touched 52-week highs on Thursday. The two stocks outperformed their new-age peers Delhivery, One 97 Communications (Paytm), FSN Ecommerce (Nykaa), and CarTrade Tech, which were trading off their yearly highs. Food and grocery delivery platform Zomato traded at its highest price in the last year at ₹84.50 before paring some gains to close at ₹82.35 on the BSE, 6.3% higher than its last close.

Nifty 50 index has the potential to touch 21,000 over the next six to nine months, said ICICI Direct. The domestic brokerage believes the Nifty's lifetime highs have reinforced the uptrend in Indian equities and expects Indian equities to outperform other emerging and developed markets over the next few years.

Government bonds and the rupee notched up firm gains Thursday as a lower-than-expected US inflation print lowered the odds of an imminent end to the cycle of rate increases that began late winter last year in the world's biggest economy. The dollar index that maps the movement of the US currency against other monetary units declined, burnishing the allure of emerging-market assets. The rupee and Indian bonds rallied despite a higher-than-expected local inflation reading, potentially lengthening the odds the Reserve Bank of India (RBI) will ease rates soon.

Wipro on Thursday reported quarter-on-quarter fall in its net profit and revenue for the first quarter ended June amidst weak performances by key verticals like financial services and communications with clients postponing discretionary spending in the short term. India’s fourth-largest software company expects revenue in the ongoing fiscal quarter to be between a sequential fall of 2% and a growth of 1% in constant currency, or without forex fluctuations. For the April-June quarter, Wipro’s net profit stood at Rs 2,870 crore, up 12% compared with Rs 2,564 crore a year earlier, but down 6.7% sequentially.

Aware Super has made its first data-centre play, cutting a $US500 million ($746 million) cheque to buy a stake in Switch after it was taken private by IFM Investors and NYSE-listed DigitalBridge for $US11 billion in December.

ArcelorMittal Nippon Steel India and Hindalco Industries have raised concerns about the European Union's Carbon Border Adjustment Mechanism (CBAM), which is set to kick in less than three months from now. While ArcelorMittal Nippon Steel India said exporters to the EU, especially developing nations, will be at a «gross disadvantage» against European competitors given the proposed method for calculating average embedded emissions, Hindalco said the regulations mandate sharing of voluminous operational data for concluding the sale of commodity items such as aluminium products. «With this framework, the exporters to EU (especially developing nations) will be at a gross disadvantage against European competitors as their efforts to produce low carb steel dedicated for exports will not fetch the full premium,» ArcelorMittal Nippon Steel India said. ET has seen copies of both the submissions which were made to the European Commission. Terming the draft «highly flawed both at the conceptual and practical level», Hindalco said the draft regulation is likely to have a «chilling effect on international trade». «Such a process raises multiple critical issues such as the confidentiality of producers and operators data, and the lead time that may be required for concluding transactions,» it said.

Investing.com — With U.S. inflation data and rate hike concerns baked into the cake, OPEC did a grandstanding Thursday on its demand forecast for the current year and next to show all was hunky and dory with the oil market. 

R Ashwin to new heights but by his own admission, it has also been «incredibly draining». Ashwin, the world's number one Test bowler, put the disappointment of being dropped from the World Test Championship final with a 33rd five-wicket haul in the first Test against the West Indies here on Wednesday. The 36-year-old also became the third Indian to reach the 700-wicket milestone in international cricket and is only behind Harbhajan Singh (707 wickets) and Anil Kumble (953) in the all-time list. After the close of play on day one, the wily off-spinner, who also thinks deeply about the game, was asked about his long journey in international cricket and the ups and downs along the way, including the recent exclusion from the WTC final against Australia. «There is no cricketer or human being in this world that has gone through the highs without the lows. When you have the lows, it gives you two choices, either you sulk or talk about it and then complain about it and go along with it and go down. Or you learn from it. So I'm someone who's constantly learnt from my lows.

The St. Louis Federal Reserve announced Thursday that Jim Bullard will step down from his post as president, effective Aug. 14.

MUMBAI : The surprise surge in retail inflation for June has prompted economists to raise their forecast for July amid firming vegetable prices, dashing hopes of a rate cut anytime soon. Inflation measured on the Consumer Price Index (CPI) came in at 4.81% in June, higher than 4.6% predicted by Mint poll of 19 economists, led by food inflation. After the June price rise data was released, economists now believe inflation could average 5-5.4% in the current fiscal year, higher than their previous estimates.

President Biden’s bare ankles sent waves across Twitter on Sunday, after a New York Times photographer tweeted that the head of state had stepped onto Air Force One in sneakers without socks. A debate quickly broke out among the platform’s self-appointed footwear authorities about Sockless Joe. He was just wearing no-shows, some said.

death, is a problem with a solution. But death, it seems, is a fate that one cannot do much about. Until now.

NEW DELHI : Falling crude oil prices, on the back of concerns over a global slowdown and recession, are unlikely to bring down domestic inflation sharply, as the benefits of the drop are yet to be passed on to retail customers, said economists. Crude prices have fallen 24.41% in the last 12 months. However, retail prices of petrol and diesel have remained unchanged since May 2022.

₹400 to ₹60,100 per 10 grams on Thursday, owing to strong worldwide trends. The last trade saw the precious metal close at ₹59,700 per 10 grams. Silver prices rose by ₹357 to ₹73,903 per kilogram.

The average long-term U.S. mortgage rate climbed this week to just under 7%, the highest level since November and the latest setback for homebuyers already grappling with a tough housing market constrained by a dearth of homes for sale