Allspring Global Investments’ Emerging Markets Portfolio Manager Prashant Paroda describes the firm’s position on India right now as “conservatively cautiously optimistic.” “We are looking at, sort of the laggards in the market, where expectations are low, and we are cautiously looking at whether the downside is limited, and once this war gets resolved and all…
The Indian Rupee opened on a slightly weaker note against the US Dollar. The Rupee opened at 94.74 against the Dollar. This is higher than Wednesday’s close of 94.61 against the dollar. This comes at a time when crude oil prices have eased. Brent crude hovered near $101 a barrel after sliding nearly 8% on…
A year has passed since the launch of Operation Sindoor, an offensive that fundamentally altered India’s national security doctrine. Over the last 12 months, the emphasis has been a great emphasis has been laid on defense modernization, defense procurement, and more importantly, domestic defense procurement. Since then, defence companies in India have been in focus….
Shares of KEI Industries Ltd. declined nearly 3% on Thursday, May 7, after sources told CNBC-TV18 that the Income Tax Department is conducting search operations at the company. According to sources, the searches are currently underway across nearly six locations, including Delhi. The development comes days after KEI Industries reported its March quarter earnings, following…
Shares of One 97 Communications Ltd., the parent company of Paytm, gained 6% on Thursday, May 7. The company reported a revenue of ₹2,264 crore in the March quarter, up 3.2% sequentially and up 18.4% from the previous year. Its profit came in at ₹183 crore, which was 18.7% lower than the previous quarter’s ₹225…
Noel Tata’s opposition to taking his family empire’s parent firm public is creating discord atop one of India’s most storied conglomerates, according to people familiar with the matter. Two of the six trustees at Tata Trusts, a group of charities that control two-thirds of Tata Sons Pvt., are set to propose that the group’s holding…
Avvashya Capital Fund Manager Mangesh Bhadang believes the Indian cement industry is finally becoming more disciplined after years of aggressive capacity expansion. He said leading players such as Ambuja Cements and Shree Cement are now shifting focus towards profitability as weak pricing and lower returns continue to pressure the sector. Bhadang continues to prefer UltraTech…
Manish Gunwani, Head of Equity at Bandhan AMC, which manages assets worth ₹962 crore, warned investors against becoming too comfortable with the current market rally. “We should not be too complacent,” he said, adding that if oil prices remain elevated for another few months, India’s fiscal and current account situation could come under stress. Among…
Shares of Polycab (India) Ltd. gained over 6% on Thursday, May 7, after brokerage firm HSBC raised its price target on the stock post its fourth quarter earnings. The company had reported its March quarter results on Wednesday HSBC has maintained its “buy” rating on Polycab and has increased its price target to ₹9,500 per…
A fresh round of discussions is likely to take place next week between Parle Products and its distributors to address the ongoing dispute linked to the disposal of expired and damaged products, sources told ET NOW. According to sources, the company has already held one round of talks with distributors regarding concerns over expired inventory…
