CATEGORIES

FY25 as weak-earnings year is gradually getting priced in

Even as many blame record foreign portfolio outflows for the market downturn, the real culprit is weak earnings amid rich valuations, says GAUTAM CHHAOCHHARIA, head of global markets, India, UBS. In an interview with Samie Modak in Mumbai ahead of the UBS India Summit, Chhaochharia highlights that 2024-25 (FY25) weak earnings growth is now factoring into market expectations. Investors are shifting their focus to the actions of the Reserve Bank of India (RBI) and the central government, as well as the outcome of upcoming state elections. Edited excerpts:

Non-disclosure of foreign property invites ₹10 lakh penalty per yr

Many high-net-worth individuals who allegedly own undeclared properties in Dubai have received notices from the tax office.

Modest increase in SBI share price after Q2

Brokerages positively revise their earnings forecasts, maintain target price

Strong growth, margin metrics could support LIC's valuations

In the September quarter (Q2FY25), LIC reported net premium income of ₹1.2 trillion, up 12 per cent year-on-year (Y-o-Y).

Mkts settle flat on FPI selling

Benchmark stock indices Sensex and Nifty closed flat in highly volatile trade on Monday as continuous foreign portfolio investors (FPI) selling, disappointing quarterly earnings and weak trends from Asian markets dented investor sentiment.

Rising retail ownership to spur equity cult in India: Morgan Stanley

Retail investors have become a force to reckon with as their ownership of Indian equities has risen by 800 basis points or 8 per cent to 23.4 per cent in the last 10 years, suggests a recent note from Morgan Stanley.

China wrests MSCI EM IMI top spot from India

Change in the pecking order comes amid a sharp rally in Chinese equities

HAVING A TRUCK WITH LNG

Things are changing rapidly with the entry of the private sector, but the path of LNG trucks in India is strewn with rocks

Accounting for climate finance

The climate negotiations meeting of the Conference of Parties signatory to the convention, COP29, at Baku, Azerbaijan, where most nations of the world have gathered currently, shall deal with various concerns relating to climate change.

Re-examine trade pacts

India must consider entering CPTPP, RCEP

The betrayal of a social revolution

It has been more than a year since the Supreme Court announced its verdict in Supriyo Chakraborty vs Union of India, crushing the hopes of people who thought that the decriminalisation of homosexuality would be followed by legal recognition for same-sex marriages.

A tough climate

COP29 is not expected to yield much progress

Offers in the time of talent crunch

Talent crunch was mentioned prominently across sessions at a recent banking and financial services summit organised by this newspaper in Mumbai.

Navigating real estate insolvencies

Insolvency law must prioritize homebuyers' interests without dragging them into the complexities of the resolution process

Amazon crafting smart eyeglasses for its drivers

Amazon is developing smart eyeglasses for its delivery drivers to guide them to, around, and within buildings, as it tries to smooth the final stretch of an order's journey to a customer's home, five people familiar with the matter said.

Russian bombs, drones, missile kill six, injure 30 in Ukraine

People take shelter inside a metro station during an air raid alert in Kyiv, Ukraine, on Monday

Tom Homan to serve as Trump's 'border czar'

President-elect Donald Trump said he will install Tom Homan (pictured), the former acting head of the US Immigration and Customs Enforcement agency, as a \"border czar\" with oversight over immigration, maritime and aviation security.

Dogecoin beats Bitcoin in crypto rush after Trump win

A bevy of smaller cryptocurrencies outperformed market-leader Bitcoin in recent days as enthusiasm about the sector's prospects under President-elect Donald Trump encouraged a wave of speculative bets.

UN climate summit runs into agenda fight on opening day

The United Nations (UN) climate conference in Baku, Azerbaijan, opened on Monday with a sharp clash as developing and developed countries debated over the selection of the issues for the agenda for the next 12 days.

China nears record $1 trn trade surplus

The country has been relying more on exports to compensate for the weak domestic demand

DBK need not be surrendered if export proceeds realised late

We refer to the DGFT PN 27 dated 23rd October 2024 prescribing annual RODTEP return and suggesting that RODTEP claims in excess of actual duties/taxes/levies actually paid will be required to be surrendered by the exporters.

Inter-State Council reconstituted, NDA allies accommodated

The Inter-State Council, which works for Centre-State and interstate coordination and cooperation, has been reconstituted with Prime Minister Narendra Modi as its chairman, all chief ministers and nine Union ministers as members and 13 Union ministers as permanent invitees.

Campaigning ends for 1st phase of Jharkhand polls

Modi asks BJP workers to stay united; Kharge seeks vote to 'save Constitution'

Indian pharma market logs 6% growth in Oct

The Indian Pharma Market (IPM) registered a 6.1 per cent value growth in October 2024 with major therapies showing positive value growth, according to a report by market research body Pharmarack.

SC backs SAT decision to quash Sebi penalty on Mukesh Ambani

The Supreme Court (SC) on Monday dismissed a plea filed by Sebi against a Securities Appellate Tribunal order which set aside the penalty imposed by the market regulator on RIL chairman Mukesh Ambani and two other entities in a case related to alleged manipulative trading in shares of the erstwhile Reliance Petroleum Ltd (RPL) in November 2007.

Rural FMCG basket expands on hybrid media usage, rising digital engagement

A growing preference for convenience products and hybrid media consumption, and a surge in digital engagement have led to a rise in the average basket size for fast-moving consumer goods (FMCG) among rural consumers.

IRFC raises ₹1,415 crore at 7.14% via 15-yr bonds

State-owned Indian Railway Finance Corporation (IRFC) has raised ₹1,415 crore through bonds maturing in 15 years at a coupon rate of 7.14 per cent, said sources aware of the development.

SME, agri, corp may take SBI loan growth past industry average

Xpress Credit portfolio, which declined in Sep quarter, also expected to rebound

ONGC's Q2 profit up 17% on lower tax expenses

Oil and Natural Gas Corporation (ONGC) reported a surprise rise in second-quarter (Q2FY25) profit on Monday, helped by a decline in tax expenses due to the scrapping of the levy on petroleum crude.

No plan to bring clawback clause: LIC

State-owned Life Insurance Corporation of India (LIC) has realigned its commission structures for its distributors in accordance with new surrender value norms but has no plans to introduce any \"clawback\", it said in a post-earnings analyst call on Friday.