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☆ Investors need to moderate their return expectations for Indian equities: Dhiraj Relli
▼ + stars: | 2024-10-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors need to moderate their return expectations for Indian equities: Dhiraj RelliDhiraj Relli of HDFC Securities discusses the current valuation levels of the Indian markets and says that local debt is an interesting asset class to consider.

Organizations: HDFC Securities

☆ India market's knee-jerk reaction was attributed to election exit polls going wrong: HDFC securities
▼ + stars: | 2024-06-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndia market's knee-jerk reaction was attributed to election exit polls going wrong: HDFC securitiesDhiraj Relli, managing director and CEO of HDFC Securities, discusses India's election results and their impact on the market.

Organizations: India, HDFC Securities

☆ CNBC's Inside India newsletter: The secret of the stock market rally
▼ + stars: | 2024-05-23 | by ( Ganesh Rao | ) www.cnbc.com time to read: +5 min

This report is from this week's CNBC's "Inside India" newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. "This particular product, and broadly speaking, the domestic investor, has driven the upsurge in the Indian stock markets," Mahesh Nandurkar, head of India research at Jefferies, told CNBC. For instance, of the nearly 4,900 actively traded India-listed stocks, 300 stocks had a fall in revenue in the last two consecutive financial years. Foreign investors have historically had a significant influence on local equity markets. For now, the savings directed into equity markets are still a tiny proportion of the overall savings Indians put away annually.

Persons: it's, Mahesh Nandurkar, Hermes, Jonathan Pines, Deepak Jasani, Jefferies, Nandurkar Organizations: Association for Mutual Funds, SBI Equity, Opportunities, ICICI Prudential, Advantage Fund, Jefferies, CNBC, Federated Hermes, HDFC Securities Locations: India, Japan

☆ Why Pakistan's rupee has soared the most against the US dollar among global currencies
▼ + stars: | 2023-10-18 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The Pakistani rupee has become the top performer in global currency markets. The currency's strength could bring some relief to Pakistan's inflation, which hit 31.4% year-on-year in September. AdvertisementAdvertisementThe Pakistani rupee has surged to the top of global currency markets, sharply increasing from a record low in early September. The rebound has made the rupee September's top global performer, based on LSEG data cited by CNBC. "Pakistan's rupee was the top performer globally this month as a government crackdown on the illegal dollar trade helped reverse its fortunes," it said.

Persons: — Organizations: Service, CNBC, HDFC Securities, South Korean, Pakistan's Federal Investigation Agency, World Bank Locations: Islamabad

☆ This currency is now the world’s top performer, after rebounding from record lows
▼ + stars: | 2023-10-18 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +3 min

A roadside money changer handling Pakistani rupee coins in Karachi, Pakistan. Bloomberg | Bloomberg | Getty ImagesThe Pakistani rupee has rebounded from an all-time low to become the world's top performing currency — and there's still room to strengthen, analysts say. The currency plummeted to a record low of 307 rupees against the greenback in early September, according to data from LSEG. This was largely owed to a government clampdown on a widespread illicit dollar trade. The lofty figure was largely owed to the weakness of Pakistan's currency, reduced domestic fuel and electricity subsidies, and supply chain disruptions, the report said.

Persons: there's, Tahir Abbas Arif Habib, Tahir Abbas, Arif Habib, Abbas, Steve Hanke Organizations: Bloomberg, Getty, PKR, South Korean, Federal Investigation Agency, Pakistan, CNBC, Johns Hopkins University, Bank, World Bank, Johns Hopkins Locations: Karachi, Pakistan, LSEG

☆ Rupee likely to open weaker pressured by surging U.S. yields
▼ + stars: | 2023-10-03 | by ( Jaspreet Kalra | ) www.reuters.com time to read: +2 min

MUMBAI, Oct 3 (Reuters) - The Indian rupee is likely to open weaker on Tuesday as U.S. treasury yields rose to fresh multi-year highs after the United States averted a partial government shutdown. Non-deliverable forwards indicate the rupee will open at around 83.25 to the U.S. dollar compared with a close of 83.04 in Friday's session. Buoyed by higher U.S. yields, the dollar index also climbed to 107.13 in Asia, its highest level since November 2022. While the rupee has come close to testing its record low levels in recent weeks, likely dollar sales from the RBI have managed to keep some of the weakness at bay. The rupee could see an intraday fall to a fresh record low if the dollar index continues to strengthen, said Dilip Parmar, a foreign exchange research analyst at HDFC Securities.

Persons: Loretta Mester, Dilip Parmar, Jaspreet Kalra, Sonia Cheema Organizations: U.S, . Federal Reserve, Reserve Bank, Cleveland, Reserve Bank of India, Brent, HDFC Securities, Thomson Locations: MUMBAI, United States, Asia

☆ Condom-shy India arouses interest of global contraceptive makers
▼ + stars: | 2023-09-21 | by ( Kashish Tandon | ) www.reuters.com time to read: +5 min

Such is the trend that the market is set to more than double to $1.7 billion by 2030, showed data from GrandView Research. By contrast, 19% of U.S. men use condoms every time they have sex, showed data from the National Center for Health Statistics. World Bank data showed that, in 2021, per capita gross domestic product crossed $2,000 - a threshold at which, in China in 2006, consumption jumped. Britain's Reckitt Benckiser Group (RKT.L) has launched new products under its Durex brand and expanded its "Birds and the Bees" rural marketing campaign. SOCIAL MEDIAIndia's market leader is domestic manufacturer Mankind Pharma (MNKI.NS) with a 33% share, ahead of Reckitt Benckiser at 14%, TechSci data showed.

Persons: Kazuhiro Kamio, Okamoto, Arvind Singhal, Miah Kiat Goh, Dwight, Mankind, Ashita Aggarwal, Kashish Tandon, Sumit Khanna, Rocky Swift, Dhanya Skariachan, Christopher Cushing Organizations: GrandView Research, Reuters Graphics Reuters, Okamoto Industries, National Center for Health Statistics, Technopak Advisors, Reuters, United Nations, Benckiser, ., Mankind Pharma, Social, Jain Institute of Management & Research, HDFC Securities Institutional, View Research, Thomson Locations: BENGALURU, India, Europe, Japan, China, U.S, S.P, Bengaluru, Ahmedabad, Rocky, Tokyo

☆ Rupee ends at 3-wk high on dollar inflows; Fed meet in focus
▼ + stars: | 2023-07-24 | by ( Sethuraman N R | ) www.reuters.com time to read: +1 min

Likely corporate dollar inflows related to an Indian conglomerate was the major driver for the rupee's move, traders and analysts said. There are possibilities of central bank intervention given that it has previously bought dollars in the 81.85-81.90 range, said Dilip Parmar, research analyst at HDFC Securities. The appreciation in the rupee is also on the moderate side given the rise in the dollar index, Parmar said. The dollar inflows into equities have also been helping the rupee, traders added. The dollar index , on the other hand, has recovered from 15-month lows hit last week and was up 0.2% on Monday.

Persons: Dilip Parmar, Parmar, India's, Avni Jain, Sonia Cheema Organizations: U.S ., HDFC Securities, Reserve Bank of India, U.S . Federal, European Central Bank, Bank of, FX, HDFC Bank, Sethuraman NR, Thomson Locations: BENGALURU, Bengaluru

"Is there going to be a challenge to Royal Enfield? It sold fewer than 30,000 motorcycles - less than the number of bikes Royal Enfield sells each month. Triumph said it has received orders for over 14,000 Speed 400 bikes, exceeding its total India sales of the past decade. Still, the frenzy over the new models is reflected in the surge in Google searches about Harley-Davidson and Triumph in India. Improved financing options is also encouraging lower-income buyers to consider premium bikes, said HDFC Securities analyst Aniket Mhatre.

Persons: Davidson, Rishi Vora, brokerages, Harley, Kotak, Royal Enfield's, Eicher, Royal, Shubhabrata Marmar, Enfield, Varun Painter, MotoCorp, Sathish Rao, Aniket Mhatre, Priyanka Kochhar, Indranil Sarkar, Aby Jose Koilparambil, Nandan Mandayam, Saumya Singh, Navamya Ganesh Acharya, Varun, Dhanya Skariachan, Euan Rocha, Christopher Cushing Organizations: Reuters, Bajaj Auto Ltd, Handout, REUTERS, Royal Enfield, Securities, Harley, Royal, Eicher Motors, Reuters Graphics Reuters, ROYAL, Enfield, Mahindra, Mahindra's, TVS, Bajaj Auto, Bajaj, Triumph, HDFC Securities, Thomson Locations: REUTERS BENGALURU, India, Royal Enfield, Bengaluru

☆ IT, auto stocks help Indian shares hit new highs
▼ + stars: | 2023-06-30 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

BENGALURU, June 30 (Reuters) - Information technology (IT) and auto stocks helped India's benchmark indexes hit fresh record highs on Friday, after robust economic data from the United States eased fears of a slowdown and improved broader sentiment. Reuters GraphicsThe Nifty 50 (.NSEI) rose as much as 1.21% to hit an all-time high of 19,201.70, before closing at 19,189.05. The S&P BSE Sensex (.BSESN) also gained 1.26% to settle at a fresh record of 64,718.56. The Nifty 50 (.NSEI) has risen over 10.5% in the three months ended June 30, its best performance since the September quarter of 2021. Midcaps (.NIFMDCP100) also hit a fresh record while smallcaps (.NIFSMCP100) hovered around their 52-week high.

Persons: Deepak Jasani, MotoCorp, Maruti Suzuki, Bharath Rajeswaran, Dhanya Ann Thoppil Organizations: Reuters, BSE, HDFC Securities, Auto, Mahindra, Maruti, Infosys, Thomson Locations: BENGALURU, United States, Bengaluru

☆ Indian rupee posts biggest single-day gain in two months on strong growth data
▼ + stars: | 2023-06-01 | by ( Sethuraman N R | ) www.reuters.com time to read: +1 min

MUMBAI, June 1 (Reuters) - The Indian rupee saw its best single-day gain in two months on Thursday, and also rose to a two-week high during the session, following strong domestic growth data, which prompted traders to square off long dollar positions. On Thursday, the rupee rose 0.38%, to mark its best day since April 5. Consistent flows into equities coupled with strong economic data is supporting the rupee, said Dilip Parmar, a research analyst at HDFC Securities. Adding to strong growth numbers, India's factory output expanded at the quickest pace since October 2020 in May, thanks to strong demand and output, a private survey showed. The string of positives for the rupee has prompted USD/INR long positions to lose patience, a sales person at a private bank said.

Persons: Dilip Parmar, Parmar, Sonia Cheema Organizations: U.S ., HDFC Securities, . Federal Reserve, Fed, Sethuraman NR, Thomson Locations: MUMBAI, Mumbai

☆ Indian rupee hits six-week low as weaker yuan dents Asian currencies
▼ + stars: | 2023-05-17 | by ( Sethuraman N R | ) www.reuters.com time to read: +1 min

MUMBAI, May 17 (Reuters) - The Indian rupee hit a more-than-six-week low against the U.S. dollar on Wednesday, in line with the decline in other Asian currencies that tracked the fall in the Chinese yuan after weak economic data. The rupee hit 82.4425 against the U.S. dollar, its lowest since April 3, during the session, before recovering to close up 0.21% at 82.38. The weak economic print from China has weighed on Asian currencies, said Dilip Parmar, research analyst at HDFC Securities. Parmar doesn't expect the Reserve Bank of India to intervene at the current levels as other Asian currencies have started depreciating and the dollar index is strengthening. Domestic economic data points like easing inflation and improved external currencies have mostly come in support of the local currency.

☆ Instant View: Adani's $2.5 billion offer rides out share storm with investor backing
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +5 min

COMMENTARYAMBAREESH BALIGA, INDEPENDENT MARKET ANALYST, MUMBAI"The FPO did get subscribed, thanks to a few institutional as well as large family offices. DEEPAK JASANI, HEAD OF RETAIL RESEARCH, HDFC SECURITIES, MUMBAI"For Indian markets, one of the concern areas is out of the way for the time being as this was weighing on investor sentiment. Since the current market price is below the offer price, the retail subscription was low as investors can rather buy it from the market." That was their focus area considering the fact that there was a difference between the market price and the floor price of the FPO. It seems that retail investors did not consider the fact that there is more to rates than just the price."

☆ INDIA RUPEE Rupee may open slightly lower, risks falling below key support
▼ + stars: | 2022-12-22 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Dec 22 (Reuters) - The Indian rupee is likely to open marginally lower against the U.S. currency on Thursday, weighed by persistent dollar demand from importers and rise in oil prices. The rupee is expected to be around 82.85-82.88 at open, compared with 82.81 in the previous session. It looks like it will be another session where help will be needed to prevent the rupee from falling below 83, a trader at a Mumbai-based private bank said. Public sector banks have been regularly selling dollars lately, when rupee falls near to 82.85-82.90 levels. Asian currencies were mostly higher, while the dollar index was down to 103.98 on the back of the positive.

☆ Apple finds a happy home in India
▼ + stars: | 2022-12-20 | by ( Pranav Kiran | ) www.reuters.com time to read: +3 min

Helped by generous subsidies, Taiwanese Apple suppliers are starting to churn out more iPhones in India. Analysts at JPMorgan reckon India will have 6% of iPhone manufacturing capacity in 2022, and the rest will remain in China. Incentives and other subsidies partially compensate for inefficiencies in India, where demand for pricier devices is slowly picking up. HDFC Securities estimates that for an average smartphone, as little as 14% of the value is added in India. Whether or not India gets that far, Apple at least gets a happy new home.

The rupee finished last week 1.2% lower at 82.27 per dollar, tumbling swiftly from trading in the 81-handle initially. Considering that, the rupee is still expected to be "stuck" in a range, they added. Meanwhile, India's benchmark government bond yield ended last week at 7.2982%, with the 8 bps gain its biggest weekly rise since late-September. Yields are expected to move in a narrow range of 7.26%-7.36%, with high chances of the upper end being tested, said a fixed income trader. After the Fed meeting, traders will also watch out for the central bank's dot plot to see where terminal rates could go.

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