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Suzlon Energy offers majority stake to Brookfield to settle loans, shares surge 13%
NEW DELHI: Shares of Suzlon Energy surged 13 per cent in morning trade on Monday amid reports that the company has offered to sell its majority stake to Brookfield for settling loans.

ET reports that Suzlon Energy has told its lenders that Canadian investor Brookfield is keen to acquire a majority stake in it, which would help the cash-strapped

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Fitch affirms Tata Steeldefault rating at ‘BB& with ‘stable& outlook
Kolkata: Fitch Ratings has affirmed Tata Steel (TSL) long-term issuer default rating (IDR) at 'BB' with 'stable' outlook. Tata Steel UK Holdings’longterm IDR has also been affirmed at 'B' with stable outlook. The agency said all ratings have been removed from Rating Watch Evolving (RWE), on which they were placed on April 1, 2016. While ‘BB’ under
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Mumbai: Shares of UPL, the producer of crop protection products, recovered on Friday after analysts said the company will not be impacted much because of the trade tensions and an outbreak of African swine fever.

Shares of agrochemical major fell 8.5 per cent on Thursday over concerns of lower exports to Latin America due to trade tensions between

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Jet's resolution process on the fast track; shares jump 9%
NEW DELHI: Shares of Jet Airways jumped nearly 9 per cent in morning trade on Monday even as media reports suggested that the insolvency resolution professional has put the grounded airline’s resolution process on the fast track.

ET reported, citing sources that the insolvency resolution professional appointed by India’s bankruptcy court for Jet A

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L T takeover attempt: Mindtree promises higher shareholder value
Bengaluru: Larsen - Toubro (L-T)’s acquisition bid will be handled in such a way that it increases shareholder value, midtier IT services company Mindtree said, adding it would maintain industry-leading growth in the current financial year.

The Bengaluru-headquartered IT services firm’s revenue crossed $1 billion in the previous fiscal y

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NCLT tells Bandhan to seek shareholders& nod
nclt: NCLT tells Bandhan to seek shareholders’ nod - The TheIndianSubcontinent

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Jalan panel report today: This is what D-Street is gearing up for
NEW DELHI: The Bimal Jalan Committee, constituted to suggest appropriate reserves that RBI should maintain and dividends it should pay to the government, is scheduled to submit its report on Monday.

Different brokerages suggest the committee could flag excess reserves at RBI, widely to the tune of Rs 1,00,000-5,00,000 crore, which could be

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By DK AggarwalHeightened geopolitical tension in West Asia returned to haunt markets this week, after Iranian armed forces shot down an American drone. Tension has been rising in the region, home to over 20 per cent of the world’s oil output, after attacks on two tankers near the Strait of Hormuz, which raised concerns about possible disruptions
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Manulife picks up 49% in Mahindra AMC for $35 mn
Mumbai: Toronto-headquartered Manulife has picked up 49 per cent stake in Mahindra Asset Management for $35 million, marking its entry into the 43-member strong Indian mutual fund industry. The deal values the mutual fund arm of the Mahindra and Mahindra group at Rs 500 crore.

Mahindra Asset, which started operations in July 2016, manages assets of

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What to watch next week: F O expiry, oil price, G20 among 8 factors that would steer market
NEW DELHI: Domestic equity benchmark Sensex slipped for the third consecutive time during the week gone by, as the market remained volatile amid negative domestic as well as global cues.

Lingering liquidity crisis at home, global trade tussle and geopolitical tension in West Asia turned investors risk averse while sluggish progress of monsoon also

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Fitch downgrades Jain Irrigation on concerns over debt levels
Mumbai: Global rating agency Fitch Ratings Friday downgraded Jain Irrigation Systems on concerns around its debt levels and aggressive growth pursued by the management. The Jalgaon, Maharashtra-based micro-irrigation company rating now stands at 'B-' as against the 'B+' earlier and the new rating has also been put the ratings on 'rating watch
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'Public sector companies' borrowing impact on inflation overblown-
Kolkata: Reserve Bank of India governor Shaktikanta Das has received support from Bank of America Merrill Lynch (BofAML) on his view that fiscal risks from raising extra-budgetary resources are mostly overdone and that the borrowings of state-run enterprises should not be included into that of the sovereign.

The six-member RBI Monetary Policy

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Infosys shareholders continue to question Panaya's future
BENGALURU: Infosys shareholders continue to fret over Panaya's future as many of them sought clarity on the Israeli subsidiary's growth opportunities from the company's management at the 38th annual general meeting.

Panaya acquisition was a major bone of contention for corporate governance battle between Infosys founders and Vishal Sikka-led

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By Sarah Ponczek

One crossed-out word was all it took to send financial markets into a unified celebration that has few precedents in the past decade.

Stocks rose to records, bonds surged, oil jumped almost 10 per cent and even gold got into the act, as traders celebrated a dovish conversion at the Federal Reserve. One back-of-the-envelope measure

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India Ratings downgrades Reliance Infra to 'D'
New Delhi: Ratings agency India Ratings Friday downgraded Reliance Infrastructure Ltd's long-term issuer rating to 'D - Issuer Not Cooperating'.

The downgrade comes barely a week after the Anil Ambani-led company's auditors raised red flags over its financial results as well as "significant doubt" over the group's ability to continue as a going

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Fed officials face weak inflation, but split over what it means
WASHINGTON/SAN FRANCISCO: US Federal Reserve officials were divided Friday over how seriously to treat a slide in inflation, with one top policymaker saying the Fed was “close” to its inflation target and three others warning the weak price increases posed major risks the Fed may need to attack with lower interest rates.

Just how deep that

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By Eric Lam and Vildana Hajric

Bitcoin breached $10,000 for the first time in about 15 months, recouping more than half of the parabolic increase that introduced mainstream investors to the digital asset before the bursting of the cryptocurrency bubble.

“The bounce back of Bitcoin has been fairly extraordinary,” said George McDonaugh, chief exe

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Wall Street dips after strong rally as US-Iran tensions escalate
US stocks slipped on Friday as rising tensions between the United States and Iran slammed the brakes on this week's run that lifted the S-P 500 to a record high.

The Federal Reserve has signaled an interest rate cut as early as July, sparking a rally in stocks that helped the S-P 500 index close at a new record of 2,954.18 on Thursday.

But

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European central bankers claim oversight over Facebook's cryptocurrency
FRANKFURT: Three European central bankers are claiming oversight over Facebook's planned virtual currency to ensure it will not jeopardise the financial system or be used to launder money.

Facebook drew worldwide interest this week when it announced plans to introduce a cryptocurrency called Libra, part of an effort to expand into digital

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  • Rally in gold prices prima facie sending out bearish signals for equities
  • Bond prices are indicating the preference for equities has gone down
  • Nifty Smallcap index breaches the gap of the day of election results within a month
  • Time cycle correction suggests Budget could be a turning point for the market
This week gone by saw the biggest speculative
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Fed official says low inflation, slow growth justify US rate cut
Washington: Stubbornly low US inflation and a shaky economic outlook justify an interest rate cut by the Federal Reserve, the head of the central bank's St Louis branch said Friday, explaining why he opposed the decision to hold rates steady.

The Fed opened the door to a rate cut Wednesday amid rising concerns about the economy due to trade

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Wall Street week ahead: Investors eye G20 with hopes for US-China trade detente
NEW YORK: All eyes will be on US President Donald Trump and China's President Xi Jinping next week as investors are desperate for any signs of a thaw in US-China relations even if it shifts expectations for much awaited Federal Reserve interest rate cuts. The S-P 500 closed at a record high on Thursday after the US central bank said it was
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S P 500 hits fresh record high as Pence sparks trade optimism
The S-P 500 hit a new all-time high on Friday, as US Vice President Mike Pence's decision to defer a planned speech on China policy rekindled optimism over trade talks between the world's two largest economies.

The decision was taken amid "positive signs" that trade talks with China could be back on track, the Wall Street Journal reported,

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Radiant Life Care completes acquisition of 49.7% stake in Max Healthcare
New Delhi: KKR-backed hospital management firm Radiant Life Care Friday said it has completed the acquisition of a 49.7 per cent stake in Max Healthcare from South Africa-based Life Healthcare.

Radiant Life Care promoter Abhay Soi will now lead Max Healthcare as chairman of its board and executive council, the companies said in a joint statement.

R

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In our previous weekly note, we had talked about the possibilities of the domestic market not seeing any runaway moves on the higher side. The market behaviour remained on the expected lines during the week gone by, as the headline index faced resistance at one of its significant double top areas that lie in the 11,840-11,880 zones. g1The market
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Citi sees case for Fed to lower rates by 50 bps in July
NEW YORK: Citi economists said on Friday if the Federal Reserve decides to lower US interest rates next month, it would do so with a bold 50 basis-points cut, together with an earlier end of its balance sheet reduction.

They said they maintain a base case the US central bank would not lower borrowing costs at all in 2019, however, if economic data

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MUMBAI: Deloitte Haskins - Sells and BSR - Associates, a KPMG network firm, said the National Company Law Tribunal (NCLT) didn’t have the jurisdiction to decide on the government’s demand for a five-year ban against the auditors of IL-FS Financial Services (IFIN). Auditors can’t be put in the same category as independent directors and s
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The week that was in 10 stocks: Bluechips at new highs, Jetzigzag show, and a new IPO
The benchmark equity indices BSE Sensex and NSE Nifty declined over half a per cent during the week gone by amid fears over India’s retaliatory tariffs on US goods, ongoing NBFC crisis, soaring crude oil prices and concerns over poor progress in monsoon.

The Sensex slipped 0.65 per cent to 39,194 for the week ended June 21. The index was at

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Mumbai: Shares of Maruti Suzuki India ended down 3.4 per cent at Rs 6,412.45 after global brokerage UBS downgraded the stock to ‘sell’ from ‘buy’.

The brokerage cut target price to Rs 5,800 from Rs 8,000, saying that it was surprised by 20 per cent plus decline in volumes in April and May.

UBS said Maruti Suzuki India is unlikely to benefit from

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View: Fed shows world cannot handle a stronger US economy
By Conor SenPoliticians and pundits spend lots of time talking about how to generate faster economic growth in the U.S. But the Federal Reserve’s actions this week and the past six months show that it is quietly responding to global concerns instead. Central bankers know that the world can't handle a stronger U.S. economy, and at the moment it’s mo
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