DIRS.INFO The most relevant business & tech news

☆ Financials bounce back from Friday's slide to lift Indian shares
▼ + stars: | 2023-05-08 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

The Nifty 50 (.NSEI) was up 0.81% at 18,215.75 as of 10:04 a.m. IST, while the S&P BSE Sensex (.BSESN) rose 0.87%. Nifty Bank (.NSEBANK) and Nifty Private Bank (.NIFPVTBANK) also gained over 1%. On Monday, IndusInd Bank Ltd (INBK.NS) rose nearly 5% and was the top Nifty 50 gainer. Analysts expect the Nifty 50 to witness consolidation in the near-term with resistance seen near 18,200 levels. read more($1 = 81.7330 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

☆ Indian shares rise ahead of Fed rate decision
▼ + stars: | 2023-05-02 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

BENGALURU, May 2 (Reuters) - Indian shares advanced on Tuesday, aided by broad-based gains across sectors, driven by March-quarter earnings, as investors await the interest rate decision by the U.S. Federal Reserve on Wednesday. The Nifty 50 (.NSEI) was up 0.49% to 18,153.10 as of 9:51 a.m. IST, while the S&P BSE Sensex (.BSESN) gained 0.45%. Twelve of the 13 major sectoral indexes advanced, with the high-weightage financials (.NIFTYFIN) and information technology stocks (.NIFTYIT) rising 0.5% and 1%, respectively. The benchmark Nifty 50 index (.NSEI) rose over 4% in April, its best month since November 2022. Among individual stocks, Mahindra & Mahindra Financial Services Ltd (MMFS.NS) surged 5% after reporting a year-on-year rise in consolidated profit in the March quarter.

☆ Indian shares set to open higher as strong earnings lift mood
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, April 24 (Reuters) - Indian shares were set to open higher on Monday as improved quarterly results from heavyweights Reliance Industries Ltd (RELI.NS) and ICICI Bank Ltd(ICBK.NS) eased some concerns over a lacklustre start to the earnings season. India's most valuable company, Reliance Industries reported 19% growth in fourth-quarter profit, aided by the strong performance in oil-to-chemicals (O2C) segment, post market hours on Friday. Private lender ICICI Bank posted a 30% jump in net profit in the March quarter, helped by improved net interest income and loan growth. The strong earnings of the two companies, which account for nearly 20% of the total weightage in Nifty 50, could improve the sentiment soured by the weak earnings and outlook of top information technology companies, analysts added. Stocks to Watch:** Yes Bank Ltd (YESB.NS): Lender's net profit slumps 45% in the March quarter on higher provisions.

☆ Infosys drags down Indian shares
▼ + stars: | 2023-04-17 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

BENGALURU, April 17 (Reuters) - Indian shares sank more than 1% on Monday after Infosys tumbled 15% and sparked a selloff in IT stocks following the country's No. 2 IT services exporter's weak results and forecast. The slide comes after the two indexes logged a winning steak for the past nine sessions in a row. The IT index (.NIFTYIT) sank 6.5% and was on track for its biggest one-day loss since March 2020. The Nifty midcap 100 index (.NIFMDCP100) and Nifty smallcap 100 (.NIFSMCP100) were both off about 0.2%.

☆ These are the top 10 busiest airports in the world—5 of them are in the U.S.
▼ + stars: | 2023-04-10 | by ( Celia Fernandez | ) www.cnbc.com time to read: +3 min

Airports Council International , the trade association of the world's airports, recently released its annual ranking of the busiest airports in the world. Hartsfield–Jackson Atlanta International Airport (ATL) Dallas/Fort Worth International Airport (DFW) Denver International Airport (DEN) Chicago O'Hare International Airport (ORD) Dubai International Airport (DXB) Los Angeles International Airport (LAX) Istanbul Airport (IST) Heathrow Airport (LHR) Indira Gandhi International Airport (DEL) Paris Charles de Gaulle Airport (CDG)Atlanta's Hartsfield-Jackson international airport topped the list as the world's busiest airport for the second year in a row. The only year that Atlanta hasn't been the busiest airport in the last four years was 2020 when ATL came in second behind Guangzhou Baiyun International Airport in southern China. DFW is the second-largest airport by land area in the United States after Denver International Airport, according to the Department of Transportation. Denver International Airport has also been among the top 20 busiest airports in the world every year since 2000, according to the Port Authority of New York and New Jersey.

☆ Auto, realty stocks power Indian shares ahead of March quarter earnings
▼ + stars: | 2023-04-10 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

BENGALURU, April 10 (Reuters) - Indian shares advanced on Monday, aided by auto and realty stocks following strong quarterly business updates, but rising odds of a U.S. Federal Reserve rate hike in May capped gains. The Nifty 50 (.NSEI) rose 0.28% at 17,647.70, as of 9:51 a.m. IST, while the S&P BSE Sensex (.BSESN) rose 0.24% to 59,975.11. Ten of the 13 major sectoral indexes advanced, with auto stocks (.NIFTYAUTO) rising over 1%. Wall Street equities rose on Thursday in a truncated week, ahead of U.S. jobs data, which was released on Friday. The market is pricing in 68.3% chance of a 25 basis point rate hike in May, up from 49.2% on Thursday, according to CME's FedWatch Tool.

☆ Indian shares set to open lower ahead of RBI policy decision
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, April 6 (Reuters) - Indian shares are poised to open lower on Thursday, ahead of what many expect to be the Reserve Bank of India's final interest rate hike in the current cycle. India's NSE stock futures listed on the Singapore exchange were down 0.12% at 17,603 as of 7:59 a.m. IST. The MSCI's gauge of the broader index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.42%. ** Equitas Small Finance Bank Ltd (EQUI.NS): Co posts 36% YoY growth in gross advances at 280.61 billion rupees in the quarter-ended March. ** Avenue Supermarts Ltd (AVEU.NS): Co posts standalone revenue from operations at 103.37 billion rupees for the quarter-ended March, up 20% YoY; total stores at 324.

The central bank said its policy stance remains focused on "withdrawal of accommodation", signalling it could consider further rate hikes if necessary. The monetary policy committee (MPC), comprising three members from the central bank and three external members, retained the key lending rate or the repo rate (INREPO=ECI) at 6.50%. Most analysts had expected one final 25 basis point hike in the RBI's current tightening cycle, which has seen it raise the repo rate by a total 250 bps since May last year. The central bank sees inflation at 5.2% in 2023-24, and GDP growth is seen at 6.5% in the financial year beginning April 1. Reuters GraphicsFinancial stability concerns appear to have prompted the pause in rate hikes, said Aditi Nayar, chief economist at rating agency ICRA.

☆ Indian shares open higher as SVB acquisition hopes aid sentiment
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, March 27 (Reuters) - Indian shares opened higher on Monday after reports of advanced talks for the acquisition of collapsed Silicon Valley Bank brought relief to markets, although fears of contagion in the global banking system lingered. Eight of the 13 major sectoral indexes advanced, with the heavyweight financials index (.NIFTYFIN) adding 0.3%. While reports of a potential acquisition of Silicon Valley Bank by First Citizens BancShares Inc calmed nerves, concerns over credit crunch persisted, putting authorities on high alert over the fallout from recent banking turmoil. Among individual Indian stocks, shares of Phoenix Mills (PHOE.NS) jumped nearly 6% after global brokerage firm Morgan Stanley initiated coverage on the stock with an "overweight" recommendation. ($1 = 82.1970 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

☆ Indian shares rise on easing global banking concerns
▼ + stars: | 2023-03-17 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

BENGALURU, March 17 (Reuters) - Indian shares advanced on Friday, aided by financials, tracking a rebound in global equities after a slew of measures to support the global banking system eased worries about a crisis in the financial sector. While the developments eased immediate concerns of a crisis in the global banking system, some analysts remained cautious. "The Fed needs to manage a delicate balancing act between price stability (inflation) and financial stability (growth) in next week's meeting." Information technology stocks (.NIFTYIT) rose over 1% with all 10 constituents logging gains. ($1 = 82.5870 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Dhanya Ann Thoppil and Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

☆ India's Tech Mahindra soars 10% as Infosys veteran to join as CEO
▼ + stars: | 2023-03-13 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, March 13 (Reuters) - Shares of Tech Mahindra Ltd (TEML.NS) surged nearly 10% on Monday after the Indian information technology services firm appointed Infosys Ltd (INFY.NS) veteran Mohit Joshi as its new managing director and chief executive officer. Joshi has been with rival Infosys for 22 years, and is currently the president at the company. Shares of Tech Mahindra (TEML.NS) were up 8.2% at 1,148.80 rupees, Infosys (INFY.NS) fell 1.1% to 1,455.05 rupees. At least three brokerages indicated it is a welcome move for Tech Mahindra. The current average rating of 39 analysts covering Tech Mahindra is "buy" and the median price target is 1,143 rupees, according to data from Refinitiv.

☆ Indian shares set for muted start as Powell reiterates hawkish message
▼ + stars: | 2023-03-09 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, March 9 (Reuters) - Indian shares are set for a muted open on Thursday, on concerns of a prolonged high-interest rate regime after U.S. Federal Reserve Chair Jerome Powell reiterated his hawkish stance on the second day of congressional testimony. Indian shares extended gains for a third session in a row on Wednesday, in contrast to global peers. Indian equities are likely to remain rangebound ahead of the Federal Reserve's policy decision on March 22, two analysts said. ** Adani Enterprises (ADEL.NS), Adani Power (ADAN.NS), Adani Wilmar (ADAW.NS): NSE places three group firms under short-term additional surveillance measures from March 1. ($1 = 81.9910 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

☆ INDIA RUPEE Rupee resumes uptrend on likely dollar inflows, Fed risks linger
▼ + stars: | 2023-03-09 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, March 9 (Reuters) - The Indian rupee rose against the U.S. currency on Thursday, supported by dollar inflows and the underlying positive momentum, traders said. The rupee was at 81.8575 to the U.S. dollar by 10:22 a.m. IST compared with 82.0550 in the previous session. The rupee has not been impacted by the change in the repricing of what the Federal Reserve is likely to do at this month's meeting. The local currency is marginally higher than what it was before Fed Chair Jerome Powell's hawkish comments. Dollar inflows are helping negotiate the renewed Fed concerns, they added.

☆ India's 1-yr, 10-yr yield curve briefly inverts for first time in nearly eight years
▼ + stars: | 2023-03-08 | by ( Dharamraj Dhutia | ) www.reuters.com time to read: +2 min

The 1-year bond yield, that trades close to the 364-day treasury bill yield, briefly rose to 7.4750% earlier in the day, while the 10-year benchmark 7.26% 2032 bond yield was at 7.4728%. The 1-year note last traded above the 10-year bond in May 2015, according to Refinitiv data. The 1-year yield eased to 7.43%, while the 10-year benchmark was at 7.46% as of 4:20 p.m. IST. On Feb. 28, Reuters reported that India's bond yield curve is likely to invert on the back of worsening liquidity deficit in India's banking system and bets of continued rate hikes. Reuters GraphicsThe benchmark 2032 bond yield has risen only 12 bps during the same period, leading to spread compression and ultimately inversion.

☆ Indian open lower on rate fears after Powell's testimony
▼ + stars: | 2023-03-08 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

The Nifty 50 index (.NSEI) fell 0.49% to 17,625.95, while the S&P BSE Sensex (.BSESN) lost 0.48% to 59,931.07 as of 9:31 a.m. IST. The slide comes after Powell's testimony before the U.S. Congress on Tuesday, in which he said strong economic data in the United States raised the possibility of prolonged and higher-than-expected interest rate hikes. Global markets fell after Powell's testimony, with the MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) losing 1.82%. Thirty-seven of the Nifty 50 constituents logged losses with Hindalco (HALC.NS) and IT stocks falling the most. The group's flagship firm Adani Enterprises (ADEL.NS) rose over 1% and was the top Nifty 50 gainer.

☆ INDIA RUPEE Rupee declines as Fed's Powell stokes fears of large rate hikes
▼ + stars: | 2023-03-08 | by ( Anushka Trivedi | ) www.reuters.com time to read: +2 min

MUMBAI, March 8 (Reuters) - The Indian rupee weakened on Wednesday, as a hawkish tone by Federal Reserve chair Jerome Powell stoked concerns about interest rates being hiked by 50 basis points (bps) again as soon as this month. Resuming trade after a one-day holiday, the rupee fell to 82.1275 per dollar by 10:34 a.m. IST compared with its previous close of 81.91. Powell, in a speech to lawmakers overnight, said recent stronger-than-expected economic data in the United States suggests that the ultimate level of interest rates could be higher than previously anticipated. "If the totality of the data were to indicate that faster tightening is warranted, we would be prepared to increase the pace of rate hikes." These were Powell's first comments following the higher-than-expected U.S. January jobs and inflation data that had led markets to expect around three more 25-bps hikes.

☆ Indian shares set to open higher on improved risk sentiment
▼ + stars: | 2023-03-06 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

BENGALURU, March 6 (Reuters) - Indian shares are set to open higher on Monday after strong economic data from the United States and investment in the Adani group of companies boosted risk appetite. Indian shares logged weekly gains on Friday after U.S. boutique investment firm GQG Partners' $1.87 billion investments in Adani group stocks spurred a broad-based rally and improved risk sentiment. ** Info Edge (INED.NS): Co's unit to invest 52 mln rupees in Sploot, a platform for pet parenting. ** Kansai Nerolac (KANE.NS): Co approves acquisition of 40% of total shareholding of Nerofix from Polygel for 370 mln rupees. ($1 = 81.6800 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

☆ Indian shares struggle for direction ahead of GDP data
▼ + stars: | 2023-02-28 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

BENGALURU, Feb 28 (Reuters) - Indian shares swung between gains and losses on Tuesday, as gains in auto and media stocks were mostly offset by a slide in metals, ahead of the domestic GDP data for the December quarter. Eight of the 13 sectoral indexes advanced with auto stocks (.NIFTYAUTO) adding nearly 1% ahead of the monthly sales numbers, due on Wednesday. Foreign portfolio investors have so far offloaded 325.18 billion rupees ($3.93 billion) worth of Indian equities in 2023, according to official data. Investors now await domestic GDP data for the December quarter, due later in the day, which is expected to show year-on-year growth slowing to 4.6%. ($1 = 82.7150 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman and Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

☆ Indian shares set for subdued start on U.S. rate hike fears
▼ + stars: | 2023-02-27 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

The data heightened fears among investors that the Fed might have to keep rates higher for longer to tackle inflation. Indian equities logged their worst week in over eight months on Friday amid fears of aggressive interest rate hikes by global central banks and a fall in liquidity. STOCKS TO WATCH** Power Grid (PGRD.NS): Co accords multiple investment approvals worth 8.04 bln rupees. ** IRB Infrastructure (IRBI.NS): Co gets Letter of Award from National Highways Authority of India for projects worth 21.32 bln rupees. ** Phoenix Mills (PHOE.NS): Co's unit completes acquisition of a prime land parcel in Kolkata for 4.13 bln rupees.

☆ Indian shares fall on rate-hike worries ahead of Fed, RBI minutes
▼ + stars: | 2023-02-22 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

The Nifty 50 index (.NSEI) was down 0.86% at 17,674.50, while the S&P BSE Sensex (.BSESN) fell 0.85% at 60,150.93 as of 10:34 a.m. IST. Both the Fed and the Reserve Bank of India were due to release minutes of their latest policy meetings, giving investors a glimpse of their thinking on future rate-hike trajectories. "Fear of a hawkish Fed has gripped markets and kept investors on tenterhooks." Global markets fell after an unexpectedly strong reading of S&P Global's composite purchasing managers' index (PMI) showed that the U.S. economy was not cooling. ($1 = 82.8330 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman, Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

☆ Indian shares set for muted start on U.S. rate hike worries, geopolitical concerns
▼ + stars: | 2023-02-20 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Feb 20 (Reuters) - Indian shares were set for a muted start on Monday, on worries that the U.S. Fed would go higher for longer with interest rates, while rising concerns after North Korea fired more ballistic missiles further dampened investor mood. India's NSE stock futures listed on the Singapore exchange were up 0.14% at 17,961.50 as of 7:58 a.m. IST. Investors await the minutes of the Fed's meeting, due on Wednesday, to gauge the U.S. central bank's future rate hiking path. Talks of Russia ramping-up attacks in Ukraine ahead of the one-year anniversary of its invasion also added to geopolitical concerns. read more($1 = 82.7310 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

☆ India's Amrutanjan Health Care sinks on whistleblower allegations
▼ + stars: | 2023-02-15 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Feb 15 (Reuters) - Shares of India's Amrutanjan Health Care Ltd (AJAN.NS) plunged as much as nearly 10% on Wednesday, a day after it said an anonymous whistleblower complaint alleged some senior management of "undue enrichment" and "conflict of interest." Amrutanjan's shares closed 1.4% lower on Tuesday after the company disclosed the allegations, and were down 8.7% as of 12.14 p.m. IST on Wednesday. The complaint alleged "lapses by certain senior management employees including undue enrichment through marketing, advertising and procurement activities, ethical concerns and conflict of interest etc," Amrutanjan said on Tuesday. Amrutanjan did not immediately respond to a Reuters' email seeking further details on the complaint, including if the company has conducted its own probe or if the managers were still employed with the company. ($1 = 82.8600 Indian rupees)Reporting by Hritam Mukherjee in Bengaluru; Editing by Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

☆ Indian shares set to rise ahead of U.S. inflation data
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Feb 14 (Reuters) - Indian shares are set to open higher on Tuesday, tracking the gains in global equities ahead of U.S. inflation data due later in the day, with a rise in domestic retail inflation in January above the Reserve Bank of India's upper threshold likely capping the move up. Wall Street equities closed higher on Monday, as investors expected consumer price index (CPI) data for January to ease. STOCKS TO WATCH** FSN E-Commerce Ventures (FSNE.NS): Co posts slide in consolidated net profit in Q3 on high expenses. ** Zee Entertainment (ZEE.NS): Co reports fall in consolidated net profit in third quarter on slide in ad spends and rise in costs. ** Steel Authority of India (SAIL.NS): Co reports fall in consolidated net profit in Q3** Power Finance Corporation (PWFC.NS): Co reports rise in consolidated net profit in Q3.

☆ Indian shares set for muted start ahead of inflation data
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Feb 13 (Reuters) - Indian shares are set for a muted start on Monday, as investors await domestic retail inflation data today as well as U.S. inflation data due later in the week, amid uncertainty over the Adani Group. India's NSE stock futures listed on the Singapore exchange were down 0.12% at 17,856 as of 8:05 a.m. IST. Investors await India's retail inflation data for January, due today. A Reuters poll of economists showed that India's annual retail inflation rose from a 12-month low in December, but stayed within the 6% upper limit of RBI's tolerance band in January. ($1 = 82.5250 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

☆ Indian shares fall ahead of inflation data; Adani stocks slide
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Feb 13 (Reuters) - Indian shares were off to a muted start on Monday, ahead of domestic retail inflation data due later in the day and U.S. inflation data due tomorrow, while the ongoing uncertainty and spillover effects from the Adani Group's market rout continued to create an overhang. Investors await India's retail inflation data for January, due today. A Reuters poll of economists showed that India's annual retail inflation rose from a 12-month low in December, but stayed within the 6% upper limit of RBI's tolerance band in January. India's market regulator is probing the group's links to some of the investors in its scrapped $2.5 billion share sale of the flagship Adani Enterprises. ($1 = 82.5250 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman, Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

Search resuls for: "ist"

25 mentions found