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MUMBAI, Feb 13 (Reuters) - Indian government bond yields are expected to trend higher this week, as sentiment stays bearish, but debt as well as the local currency will track U.S. and India inflation data. India's headline retail inflation print is due on Monday, followed by U.S. retail inflation on Tuesday. Bond yields jumped after the RBI highlighted core inflation concerns, keeping the door open for another hike. The rupee will take its cues from the U.S. inflation print and its impact on the dollar index, a trader with a private bank said. For the week, the currency could move between 82.10 and 82.80 unless the U.S. inflation data is a big surprise, dealers said.

☆ Alibaba sells out of India's Paytm - ANI
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +1 min

[1/2] A QR code of Paytm is seen at a mobile repairing shop in Kolkata, India, November 9, 2021. REUTERS/Rupak De ChowdhuriBENGALURU, Feb 10 (Reuters) - China's Alibaba Group (9988.HK) has sold its remaining stake in Indian digital payments firm Paytm (PAYT.NS) through a block deal, India's ANI reportedon Friday, citing sources with knowledge of the matter. Paytm and Alibaba did not immediately respond to Reuters requests for comment. In January, Alibaba sold a 3.1% stake in the company through a block deal worth $125 million, a source with direct knowledge of the matter had told Reuters. Before that, the Chinese firm had a 6.26% stake in Paytm.

☆ Indian shares fall on rising U.S. recession fears; MSCI's Adani take
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Feb 10 (Reuters) - Indian shares fell on Friday, tracking a slide in global equities on fears of a looming U.S. recession, and as sentiment soured after index provider MSCI said it will cut the weightings of four Adani Group companies. Asian markets fell, with the MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) sliding 1.23%. However, Indian equities have a limited downside due to significant correction and markets will likely witness sideways movement in the next few weeks in the absence of any major triggers, two analysts said. Most Adani group stocks extended their decline in Friday's session. If the MSCI cuts weightings on Adani group companies, it would have a bearing on the flows into the respective stocks," Solanki added.

☆ Indian shares muted on Fed rate-hike concerns; Adani stocks tumble
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Feb 9 (Reuters) - Indian shares struggled for direction on Thursday, on concerns over the U.S. Federal Reserve's rate-hike trajectory, while a drop in Adani Group company stocks also dampened sentiment. Twenty-six of the Nifty 50 constituents declined, with Adani Enterprises (ADEL.NS) and Adani Ports (APSE.NS) falling 7.9% and 3.5%, respectively. Index provider MSCI said on Thursday it had determined that some Adani securities should no longer be designated as free float. read moreSeveral institutional investors and funds allocate as per the MSCI index and consider it a benchmark. If the weightage of Adani stocks gets reduced in the index following a review, it would lead to outflows and likely result in a slide in the group's stock, two analysts said.

The central bank said that its policy stance remains focused on the withdrawal of accommodation, with four out of six members voting in favour of that position. Reuters GraphicsThe monetary policy committee (MPC), comprising three members from the central bank and three external members, raised the key lending rate or the repo rate (INREPO=ECI) to 6.50% in a split decision. We have to remain unwavering in our commitment to bring down CPI headline inflation," RBI Governor Shaktikanta Das said, while announcing the committee’s decision. In a poll conducted ahead of the federal budget on Feb. 1, more than three-quarters of economists, 40 of 52, had expected the RBI to raise the repo rate by 25 bps. Das said that the inflation-adjusted, real interest rate remains below the pre-pandemic levels and liquidity remains surplus, even though it is lower than during the pandemic.

☆ Indian shares rise ahead of RBI policy decision
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +1 min

Market participants will focus on the RBI's commentary on the future trajectory of rate hikes, liquidity, the country's economic outlook and whether the central bank changes its stance from "withdrawal of accommodation" to "neutral." The RBI had raised key lending rate by 35 basis points in December, after three straight 50 bps hikes, and had said its fight against inflation was not over yet. Fed's Powell said on Tuesday disinflation has started and that he expects significant declines in inflation this year, raising hopes of less aggressive rate hikes in the future. Wall Street closed higher overnight, while MSCI's gauge of the broader index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was up 0.75%. Reporting by Rama Venkat in Bengaluru; Editing by Dhanya Ann Thoppil and Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

☆ Rupee eyes RBI policy decision, weighs Powell's comments
▼ + stars: | 2023-02-08 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, Feb 8 (Reuters) - The Indian rupee is likely to open little changed to the U.S. dollar on Wednesday, with traders weighing comments from Federal Reserve Chair Jerome Powell and awaiting the Reserve Bank of India's policy decision. The non-deliverable forwards indicate an opening of 82.68-82.74 for the rupee , compared with 82.70 in the previous session. We doubt RBI will have a major impact on the rupee, a trader at a Mumbai based bank said. Some market participants had expected Powell to adopt a more hawkish stance after the jobs report blew past expectations. Powell was "not materially more hawkish" than he was after the recent Fed decision, ING Bank said in a note.

☆ India's Adani Ports says Q3 profit drops; to cut capex, repay debt next year
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +2 min

Adani Ports said its consolidated net profit fell 16% to 13.16 billion rupees ($159.10 million) in the third quarter. It expects EBITDA to increase to 145 billion rupees to 150 billion rupees next financial year. It also expects capital expenditure for the next financial year to drop to between 40 billion rupees and 45 billion rupees, from 86 billion rupees this financial year that ends in March. Adani Ports said it expects to repay loans, including bonds, worth 50 billion rupees next financial year. Its cash and cash equivalent were 62.57 billion rupees as of Dec. 31, while its net debt was 392.77 billion rupees.

☆ Make these 4 undervalued investments now while the stock market rally unwinds after a red-hot jobs report, according to the investment chief at Cambria Funds
▼ + stars: | 2023-02-07 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

The economist continued: "And it's not the level of the unemployment rate that matters as far as the economic cycle is concerned — it's the change in the unemployment rate. He told Insider in a recent interview that investors should target value stocks and foreign equities, specifically Chinese stocks and those in emerging markets. For most of the past decade, value stocks were unloved while growth names went on an explosive rally. But now value stocks have made a major comeback, while growth picks have melted down. When picking stocks, Faber said he's especially interested in two qualities: a stock's valuation and momentum.

☆ Indian shares set for muted start on rate fears, Adani uncertainty
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +2 min

Analysts said that the selloff in Adani stocks has created panic in Indian markets. Ratings agency Moody's warned that the tumble in Adani group stocks could hit the conglomerate's ability to raise capital. STOCKS TO WATCHState Bank of India (SBI.NS): India's largest lender reports a rise in net profit in the third quarter. read moreITC (ITC.NS): Co reports a higher-than-expected rise in net profit in December-quarter on strong cigarette sales and steady demand for packaged foods. read moreMarico (MRCO.NS): Co reports higher-than-expected rise in net profit in Q3 on higher demand for cooking products and hair oil.

☆ Indian shares set to rise on easing inflation concerns; Adani stocks in focus
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Feb 3 (Reuters) - Indian shares are set to open higher on Friday, as global central banks hinted at inflation easing, spurring optimism that the rate hike cycle may be near an end, while the ongoing rout in Adani group stock could cap gains. After the U.S. Federal Reserve acknowledged in its monetary policy decision on Wednesday that the disinflationary process may have begun, the European Central Bank and the Bank of England followed suit on Thursday. Analysts said that the selloff in Adani stocks has created panic in Indian markets. Foreign institutional investors sold 30.64 bln rupees ($373.23 million) worth of shares on a net basis on Thursday while domestic institutional investors purchased 23.71 bln rupees worth of shares, official data showed. ($1 = 82.0940 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

☆ Indian shares set to fall after Adani group calls off $2.5 bln share sale
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Feb 2 (Reuters) - Indian shares are set to open lower on Thursday after a sustained selloff in Adani group stocks as the group cancelled the secondary share sale of its flagship company Adani Enterprises. India's market regulator is said to be examining the crash in the Adani group company shares and looking into possible irregularities in Adani Enterprises' secondary share sale. Indian markets closed lower on Wednesday, hit by Adani group stocks and a fall in insurance companies after the union budget proposed to limit tax exemptions for insurance proceeds. STOCKS TO WATCHBritannia Industries (BRIT.NS): Co posts rise in consolidated net profit in the third quarter on price hikes, sustained demand. Alembic Pharma (ALEM.NS): Co reports consolidated net profit that beat estimates in Q3, on higher domestic sales.

☆ Indian shares fall as insurance companies drag; Adani Group stocks tumble
▼ + stars: | 2023-02-01 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, Feb 1 (Reuters) - Indian shares reversed earlier gains to trade lower on Wednesday, led by a fall in insurance companies after the country's Union budget proposed to limit tax exemptions for insurance proceeds, while Adani Group shares tumbled. The indexes rose as much as 2% after Finance Minister Nirmala Sitharaman raised the rebate limit for personal income tax to 700,000 rupees from 500,000 rupees. Indian insurance companies were top losers post budget, with HDFC Life (HDFL.NS), SBI Life Insurance (SBIL.NS), ICICI Prudential Life Insurance Co (ICIR.NS), Life Insurance of India (LIFI.NS), General Insurance Corp (GENA.NS) and Max Financial (MAXI.NS) tumbling between 4.5% to 11%. Shares of Nifty 50-listed Adani Enterprises (ADEL.NS) plunged 15% while Adani Ports and Special Economic Zone (APSE.NS) tumbled 10% on a broader selloff in Adani Group firms, which has now swelled to $82 billion since the Hindenburg report. Reporting by Bharath Rajeswaran and Nallur Sethuraman in Bengaluru; editing by Eileen Soreng, Savio D'Souza and Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

☆ Indian shares set to rise, with Adani Group, budget, Fed on watch
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +3 min

Indian snapped a losing streak on Monday as key Adani Group stocks arrested their two-session tumble since U.S-based short-seller Hindenburg Research, last week, flagged concerns about the groups' debt levels and the use of tax havens, charges the conglomerate has denied. Traders will also watch the budget for any incentives to entice foreign investors, who have piled out of the market, especially since the report on Adani Group. Foreign institutional investors have sold 151.65 billion rupees ($1.86 billion) worth of shares on a net basis in the past three sessions. STOCKS TO WATCH** Larsen & Toubro (LART.NS): The company reported a lower-than-expected rise in consolidated net profit in third quarter on moderate order growth. ** Bharat Petroleum (BPCL.NS): The company posted a slide in quarterly net profit on stagnant retail prices.

☆ Indian shares volatile as key Adani stocks arrest slide
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Jan 30 (Reuters) - Indian shares were volatile in morning trading on Monday, mirroring financials, ahead of the Union budget, while select Adani Group stocks arrested the recent slide after a short-seller attack on group companies triggered a sell-off over the previous two sessions. The Nifty 50 index (.NSEI) was down 0.36% at 17,540.65 as of 11:03 a.m. IST, while the S&P BSE Sensex (.BSESN) fell 0.29% to 59,156.62. Indian equities had tumbled to a three-month low on Friday, dragged by a short-seller attack on Adani group companies, which triggered a selloff in banks. Investors will also shift focus to India's Union budget on Feb. 1, with the government's fiscal consolidation path and borrowing calendar for fiscal 2024 as triggers. Besides the Union budget, analysts also said rate decisions by global central banks and January automobile sales data would determine the mood in the market.

☆ Indian shares set to rise after a rout set off by Adani stocks
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +2 min

Besides the Fed's policy meeting, investors await rate decisions from other global central banks such as the European Central Bank and the Bank of England, later this week. STOCKS TO WATCH** Bajaj Finance (BJFN.NS): Co posts bigger-than-expected rise in consolidated net profit in third quarter, aided by a fall in provisions for bad loans. read more** Vedanta (VDAN.NS): Co reports slide in consolidated net profit in Q3, dragged by soft metal prices. read more** Tata Elxsi : Co reports arise in consolidated net profit in third quarter. ($1 = 81.5100 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

☆ India's Tata Motors surges 8% on first quarterly profit in 2 years
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Jan 27 (Reuters) - Shares of Tata Motors Ltd (TAMO.NS), India's No.3 carmaker by volume, rose as much as 8.2% to a more-than-four-month high on Friday after the company reported its first quarterly profit in two years. Tata Motors swung to a surprise profit of 29.58 billion rupees in the October-December quarter, from a loss of 15.16 billion rupees a year before. Improving semiconductor supplies and rising demand helped Tata Motors' luxury car unit, Jaguar Land Rover (JLR), turn profitable. Goldman rates Tata Motors' stock "neutral", while Nomura rates it "buy", which is also the average rating of the 30 analyst covering the stock, according to Refinitiv data. Bajaj Auto Ltd (BAJA.NS), among India's top motorcycles and three-wheelers maker, also reported a bigger-than-expected quarterly profit due to strong domestic demand and higher prices.

☆ Adani Group fallout drags Indian shares to 3-month low
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Jan 27 (Reuters) - Indian shares fell more than 1% to a three-month low on Friday, as banks continued to lead the market lower along with Adani Group companies in the wake of a short-seller attack on the conglomerate. He said the hammering of Adani Group stocks has upset investor sentiment and created a crisis of confidence. Adani Ports (APSE.NS) and Adani Enterprises (ADEL.NS) were the top losers on the Nifty 50 on Friday, ahead of the latter's $2.45 billion follow-on public offering (FPO). The heavyweight financials sector (.NIFTYFIN) again led the slide, falling more than 2% even though brokerages said banks' exposure to the Adani Group was within manageable limits. The drop in Indian stocks was in contrast to their Asian peers, which hit a near nine-month-high after strong U.S. economic growth data eased recession worries.

☆ Indian shares hit over 1-wk low; Adani group stocks fall
▼ + stars: | 2023-01-25 | by ( Rama Venkat | ) www.reuters.com time to read: +2 min

BENGALURU, Jan 25 (Reuters) - Indian stocks hit an over-one-week low in volatile trading on Wednesday, ahead of the monthly expiry of derivatives and the federal budget. The Nifty 50 index (.NSEI) was down 1% at 17,936.25 as of 11:17 a.m. IST, while the S&P BSE Sensex (.BSESN) fell 0.96% to 60,394.36. Nifty's volatility index (.NIFVIX) climbed as much as 8.5% to 14.815 after hovering around the 14 mark for over a month. Auto stocks (.NIFTYAUTO) shed early gains to trade 0.2% lower, with Maruti Suzuki (MRTI.NS) and Bajaj Auto (BAJA.NS) the only gainers on the index. Maruti was up 0.8% on strong third-quarter earnings, while Bajaj Auto rose 0.3%.

MUMBAI, Jan 23 (Reuters) - The Indian rupee is expected to extend its gains this week, while government bond yields may move marginally higher due to worries about yet another year of elevated borrowing. The local unit is likely to add to its momentum and trade in a broad 80.50-81.50 range this week, analysts said. Despite the corporate flows in the market, steady foreign investment into equities is more important, so it seems appropriate for the rupee to trade around those levels, Biswas added. Market participants expect the benchmark bond yield to trade in the 7.30%-7.40% band this week. The Reserve Bank of India will auction 40 billion rupees each of five- and 10-year green bonds on Wednesday.

☆ Indian shares set to open higher; key earnings to provide direction
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Jan 23 (Reuters) - Indian stocks were poised to open higher on Monday, tracking a Wall Street rally in the previous session, with shares also taking cues from the earnings of heavyweights such as Reliance. Financial stocks (.NIFTYFIN) could gain after robust quarterly earnings results from top banks over the weekend. Wall Street equities rallied to close higher on Friday, as upbeat quarterly earnings helped lift Netflix, while Google parent Alphabet climbed after announcing job cuts. ** India's top cement maker, UltraTech Cement (ULTC.NS), reported a 38% decrease in quarterly profit on Saturday, dented by a surge in expenses. ** Yes Bank (YESB.NS) reported a surprise 80% plunge in quarterly profit on Saturday as provisions for bad loans increased.

Government bond yields are expected to tick up as investors shift focus to the upcoming budget. The rupee climbed 1.7% to 81.3250 per dollar last week, tracking a broad decline in the dollar index . There are a lot of positives for the rupee, including the Fed view, the broadly stable oil prices and the fall in Treasury yields, said Anil Bhansali, head of treasury at Finrex Treasury Advisors. Till then, bond yields should not fall much, as most people are expecting a heavy borrowing calendar," said Ajay Manglunia, managing director and head of investment grade group at JM Financial. Meanwhile, as a bulk of the fresh supply for the next financial year would hit the longer end, market participants expect yields to rise, while shorter-tenor yields may see some fall.

☆ Indian shares set to open higher; inflation slows
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Jan 13 (Reuters) - Indian shares are set to open higher on Friday after data showed domestic and U.S. inflation eased last month, boosting expectations that central banks could slow the pace of interest rate hikes. In other Asian equities, the MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was up 0.8% at a seven-month high. STOCKS TO WATCH** Wipro Ltd (WIPR.NS): Co set to report quarterly results later in the day. ** Infosys (INFY.NS): Co raises annual revenue outlook after reporting better-than-expected quarterly profit in third quarter. ($1 = 81.1100 Indian rupees)Reporting by Rama Venkat and Bharath Rajeswaran in Bengaluru;Our Standards: The Thomson Reuters Trust Principles.

☆ Alibaba sells Paytm stake worth $125 mln via block deal - source
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: 1 min

BENGALURU, Jan 12 (Reuters) - China's Alibaba Group (9988.HK) sold a 3.1% stake in Indian digital payments firm Paytm (PAYT.NS) worth $125 million through a block deal on Thursday, a source with direct knowledge of the matter told Reuters. Alibaba, which held a 6.26% stake in Paytm as at end-September, sold the stake at 536.95 rupees apiece, the source said. Morgan Stanley advised Alibaba on the deal, the source said. Alibaba and Morgan Stanley did not immediately respond to Reuters' requests for comment. Reporting by Sriram Mani in Mumbai, Nishit Navin in BengaluruOur Standards: The Thomson Reuters Trust Principles.

☆ Indian shares seen opening flat; Powell's speech, earnings eyed
▼ + stars: | 2023-01-10 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Jan 10 (Reuters) - Indian shares were set for a muted opening on Tuesday, tracking global moves as investors weighed expectations of less aggressive Fed rate hikes against inflation and corporate earnings performance. India's NSE stock futures listed on the Singapore exchange were down 0.12% at 18,150.50, as of 7:42 a.m. IST on Tuesday. Domestic investors bought 17.24 billion rupees worth of shares, as per provisional NSE data. STOCKS TO WATCH** TCS (TCS.NS): Co's third quarter net profit missed estimates, flags challenges in Europe as clients tighten spending. ($1 = 82.1700 Indian rupees)Reporting by Rama Venkat and Bharath Rajeswaran in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

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