SOVEREIGN RATINGS
Will eased KYC norms revive foreign investment in Indian sovereign bonds?
India's relaxation of KYC norms for foreign funds investing solely in sovereign bonds aims to enhance the appeal of this asset class, already included in global indices. While easing operational issues is a welcome step, an immediate reversal of recent outflows hinges on favorable global rate dynamics and reduced geopolitical risks. Experts anticipate long-term benefits for FPI participation in G-secs.
These 7 banking stocks can give more than 21% returns in 1 year, according to analysts
There is bad news and there is cyclical bad news. The difference? One is triggered by some adverse development. The other comes at regular intervals. Now, in the banking sector, you will hear news of how bank margins are under pressure. This should not cause you any tension, as it is cyclical bad news which comes whenever the interest rate cycle turns down. So should you sell bank stocks? No. Given the structural improvement in the sector, consider these cyclical downturns are opportunities.
These large-caps have ‘strong buy’ & ‘buy’ recos and an upside potential of more than 25%
Here’s an old market saying: Even when the bulls are in control, you can never write off the bears. They will make an appearance at regular intervals, sometimes staying longer than expected. At this point of time, both the bulls and bears are placed pretty much at the same levels, though the bias is toward the bulls. In such a scenario, it is better to focus on one thing: Earnings, and the overall possible growth in a sector. At the end of the day, the stock market is about earnings. And that has a very different trajectory from what the bulls and bears push the market toward at different points of time.
How will RBI's STRIPS facility impact insurance companies?
The Reserve Bank of India's decision to allow STRIPS in state government bonds is poised to revolutionize cash flow management for insurers. This move enables insurers to sell near-term asset inflows, aligning investment income with long-term policy payouts. STRIPS in state bonds offer a yield advantage and reduce reinvestment risk, making them attractive for long-term investors.
India 'satisfied' with $400 million currency swap that boosted Maldives' FX reserves
India expressed satisfaction over the USD 400 million currency swap with Maldives, which boosted the island nation's foreign exchange reserves. Fitch affirmed Maldives' sovereign rating, acknowledging the increased Forex reserves driven by the currency swap between the Reserve Bank of India and the Maldives Monetary Authority. However, persistent fiscal vulnerabilities complicate debt refinancing.
Lenskart gets pre-IPO bump; Amazon’s q-comm entry
Asset manager Fidelity has marked up Lenskart’s valuation to $6.1 billion as the eyewear retailer gears up an IPO. This and more in today’s ETtech Top 5.
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IOC cancels bond issue for better pricing amid market liquidity
Indian Oil Corporation (IOC) has withdrawn its bond issue despite strong investor interest, anticipating better pricing due to increased liquidity from the RBI's recent policy rate cut and CRR reduction. The issue, which received bids of ₹9,830 crore, was pulled as IOC seeks a narrower spread over government bond yields, following a similar move by PFC earlier in the week.
These 7 banking stocks can give more than 20% returns in 1 year, according to analysts
In the last few weeks, bank stocks have outperformed a volatile market. So, it is clear that, unlike in the past when bank stocks led the correction in the market, this time institutional investors are clearly in no hurry to reduce their banking exposure. This has to be seen in light of the fact that, for a well-known reason, the margins of banks are going to come under pressure in coming quarters.
Pakistan once again picks arms over 'aam aadmi'
Pakistan's new budget for fiscal year 2025-26 prioritizes defense with a 20% increase in spending, despite shrinking the overall budget by 7%. The nation, still recovering from an economic crisis and relying on loans, aims for 4.2% growth and reduced inflation while navigating IMF constraints and trade challenges. This allocation occurs amid regional growth outpacing Pakistan and ongoing economic vulnerabilities.
These large-caps have ‘strong buy’ & ‘buy’ recos and an upside potential of more than 25%
Why talk about a correction when the market is clearly in bullish mode? Because, for one, you should always be ready for a correction; along with volatility, it is a part of the market. Second, it is important to know the reason for any correction in the market. Going forward, corrections are likely to happen more because of profit-booking rather than any structural reason. Now, this is very different from how things were in January and February when high valuations and low growth made it a structural issue. With Q4 earnings being better than expected, at least the concern over growth has been addressed. Valuations though are still not cheap. But if there is growth, valuations can be justified.
Pakistan's debt increases to PRs 76,000 billion by end-March 2025
Pakistan's debt has surged to PRs 76,000 billion, yet the economy is projected to grow by 2.7% this year. The nation's economy shows signs of recovery, with a current account surplus and rising foreign exchange reserves. The government plans privatization and aims for sustainable growth, setting the stage for the upcoming budget presentation.
Singapore's Grab not in talks with GoTo over a buyout
Grab denied reports of acquisition talks with Indonesian competitor GoTo, quashing market speculation about a potential merger. The statement comes amid intensifying competition and consolidation pressures in Southeast Asia’s tech sector, where both companies are seeking profitability and regional dominance in transportation and digital services.
Lenskart becomes public limited company in preparation for IPO
The Gurugram-based omnichannel eyewear brand Lenskart closed a $200 million secondary round in June 2024 at a $5 billion valuation. Singapore's sovereign fund Temasek and US financial services giant Fidelity had participated in the round. The company is expecting a 10 billion valuation for its IPO, double it last funding round.
India plans increased bond buybacks and switches to secure sovereign rating upgrades
India is likely to increase bond buybacks and switches to longer maturities this fiscal year to lower its combined fiscal deficit, aiming for sovereign rating upgrades that have remained unchanged for nearly two decades. Economists suggest that maintaining the fiscal gap below 7% of GDP is crucial for rating agencies to consider an upgrade, with the government budgeting ₹2.
Green Investing: How Indian investors can drive real change on World Environment Day
Sustainability is no longer just a corporate or policy trend in India. From choosing electric vehicles and reusable products to supporting responsible brands, individuals today, especially the younger generation, are aligning daily decisions with environmental impact.
Asian stocks cautious ahead of Japan bond auction
Asian shares displayed caution as weak US economic data bolstered expectations for Federal Reserve rate cuts. Treasury yields stabilized after a rally, while the dollar weakened. Markets are closely watching Japan's super-long-term bond auction amid concerns about demand. US economic activity has slowed, raising fears about equity market valuations.
Vedanta Limited to raise Rs 5,000 cr through NCDs
Vedanta debt raise: Vedanta Ltd. plans to raise ₹5,000 crore through secured NCDs in three tranches, targeting mutual funds, insurers, and AIFs. Proceeds will support debt repayment and capital expenditure. Coupon rates are 9.35–9.45%, higher than sovereign bond yields.
These 9 banking stocks can give more than 22% returns in 1 year, according to analysts
In the last eight months, every time the markets have moved up, bank stocks have invariably been among the top gainers. Large private sector banks, which were underperformers for a long phase of over three-and-a-half years, are among the current outperformers. So now, stick with these stocks even if there is some bad news. The Q4 earnings season numbers for banks showed a decline in margins. This might appear to be negative to many, but was on expected lines.
US Stock market today: Dow Jones up 0.22%, S&P 500 rises 0.36%, Nasdaq surges 0.68% as Nvidia powers tech rally, Dollar General soars 12%, and OECD cuts U.S. growth forecast amid trade war tensions
US Stock market today showed mixed moves as the Nasdaq Composite jumped, led by strong gains in tech stocks like Nvidia, while the Dow Jones wavered. The OECD cut its U.S. growth outlook, warning of trade policy risks. Investors are watching rising tariff impacts, weak factory data, and ongoing U.S.-China trade tensions. Retailer Dollar General soared after raising its forecast. Global bond yields dipped, and Constellation Energy rose on a nuclear deal with Meta. With uncertainty around global growth and U.S. spending plans, markets are bracing for a bumpy ride. Here's everything you need to know in today’s full market recap.
Aswath Damodaran explains 3 reasons why Moody’s ratings downgrade of the U.S. didn’t impact market
U.S. markets stayed largely unaffected after Moody’s downgraded the country’s credit rating, due to prior expectations, the strength of private capital, and limited financial impact, according to NYU professor Aswath Damodaran.
Wealthtech startup Stable Money raises $20 million in round led by Nilekani’s Fundamentum Partnership
Existing backers Z47, RTP Global and Lightspeed, besides Aditya Birla Ventures, participated in the funding round. Per cofounder Saurabh Jain, the funds will be used to expand its suite of wealth products and speed up customer acquisition. Since its launch in 2022, Stable Money has onboarded more than 150,000 users, who have invested in FDs and bonds, taking its total assets under management (AUM) to over Rs 3,000 crore.
US yields are America’s headache, but DXY may be world’s concern: Kotak Equities
Kotak Institutional Equities suggests rising US bond yields reflect domestic fiscal concerns rather than growth optimism. A weakening US dollar, however, poses broader global risks, potentially reshaping investment strategies and capital flows. While US yields may be a localized issue, a declining dollar index could trigger asset repricing and influence financial stability worldwide, but India seems insulated.
ETMarkets Smart Talk: India’s market cap could hit $10 trillion by 2030, says ArthAlpha’s Rohit Beri
Rohit Beri of ArthAlpha Investment Advisors presents a bullish outlook on Indian equities, projecting a $10 trillion market capitalization by 2030. He advises investors to remain cautious amid current market volatility, focusing on sectors like capital goods, infrastructure, and renewables for long-term growth. For high-net-worth individuals, he recommends a strategy balancing capital preservation, growth, and tactical agility.
These large-caps have ‘strong buy’ & ‘buy’ recos and an upside potential of more than 30%
There is no dearth of money waiting to flow into the market. This is clear from the reaction of the street to the Q4 earnings. If the results were good, the stocks saw a bounce. And if results were not in line with expectations, then there was enough supply to punish the stock. So, clearly, the market is in stock-specific mode rather than in a clear trending mode. It is very likely that the bias of the market will continue to remain bullish. This is probably a good time to focus on large-cap stocks with good track records.
Global markets on edge as U.S. debt skyrockets — contagion threat looms, says Institute of Finance
Economists warn that rising US debt levels could trigger significant global financial instability. The interconnectedness of major economies like the US, UK, Germany, and France means that fluctuations in US Treasury bonds can ripple outwards. Emerging markets, already facing restricted access to foreign capital, are particularly vulnerable to these spillover effects.
Filing ITR for FY2024-25? Mistakes in HRA claims, capital gains tax calculation are among 7 errors to avoid
Taxpayers stand to benefit from a 45-day extension for filing returns due to significant ITR form changes in Budget 2024. However, errors can crop up despite online filing improvements, ranging from incorrect forms to misreporting income. Avoiding these mistakes, like neglecting AIS/Form 26AS reconciliation or HRA claim errors, is crucial to prevent penalties and ensure accurate tax computation.
High-yielding bonds in EM may beat peers as treasuries decline
Bloomberg's analysis suggests that riskier emerging-market bonds, particularly from India, Indonesia, Brazil, and South Africa, are outperforming due to the dollar's decline offsetting rising Treasury yields. Goldman Sachs strategists note that a weaker dollar reduces the impact of higher US yields on EM rates, benefiting higher-yielding bonds.
Rupee ends nearly flat, wedged between importer dollar bids and Asia FX uptick
The Indian rupee ended nearly flat on Wednesday, as the impact of month-end dollar demand from importers was offset by an uptick in regional peers.
India bonds are a buy for Citi on diverging rates policy with US
Citigroup anticipates a continued rally in Indian bonds, driven by deeper interest rate cuts by the Reserve Bank of India, potentially reaching 5%. This diverges from the US Federal Reserve's stance, weakening the traditional link between Indian bonds and US Treasuries. Aberdeen Investments echoes this view, predicting further rate cuts amid easing inflation and potentially lower oil prices.
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