Thursday 28 December 2017

Opening bell: Asian Markets open flat; Kolte-Patil, Cairn India in News

US stocks close mildly higher; Asian markets open flat

US stocks eked out a positive close Wednesday, with gains in real estate and utilities offsetting declines in energy and telecommunications stocks.

click here to subscribe us for free >>http://ripplesadvisory.com and call us:-9644405056

Asian markets were little changed early on Thursday after an oil rally fizzled and copper prices soared overnight.

Govt cuts small savings interest rate by 0.2 percentage points

The government has cut the interest rate on small savings schemes, including Public Provident Fund (PPF), National Savings Certificate (NSC) and Kisan Vikas Patra, by 0.2 percentage points for the January-March quarter, a move that will prompt banks to lower deposit rates.


Cairn India acquires 51% stake in AvanStrate from Carlyle Group

Cairn India Holdings Ltd, a unit of metals and mining firm Vedanta Resources Plc, has acquired a controlling equity stake in Japanese company AvanStrate Inc. for $158 million, Vedanta said.

KKR commits Rs193 crore in Kolte-Patil’s township

KKR and Co. has committed Rs193 crore for a township project being developed by a joint venture between Pune-based Kolte-Patil Developers Ltd and ICICI Venture Funds Management Co. Ltd.

RCom shares surge over 150% in last six trading sessions

Shares of Reliance Communications Ltd (RCom) surged over 150% in the last six trading sessions after the company announced a Rs39,000-crore debt resolution plan.

DLF looks to raise Rs3,500 crore via debentures, warrants to promoters

Realty major DLF’s shareholders approved an issue of debentures and warrants to promoters in lieu of Rs11,250 crore equity infusion into the company to reduce company’s net debt significantly. The company is looking to raise more than Rs3,500 crore through this process.

Online retail industry grows 23% to $17.8 billion: report

After nearly 18 months, India’s e-commerce market finally picked up sharply in the second half of the year, driven by strong growth at Flipkart Ltd and Amazon India and new entrant Paytm E-commerce, according to RedSeer Management Consulting, a market research and consulting firm.

Thursday 21 December 2017

RBI Monetary Policy Committee is united in worry but divided on the cure

The rise in retail inflation and an uncertain recovery of economic growth are worries shared by all members of the monetary policy committee (MPC).

The overwhelming message from the minutes of the December meeting of the MPC was that the recent inflation rise has disturbed every member. Even the lone dove in the six-member MPC, Ravindra Dholakia, pared down his pitch for a rate cut to 25 basis points this time from around 40bps in the previous meeting.

Members were worried over the swift rise in retail inflation in October and the fact that it was more broad-based than the previous months added to their concern. So much so that Chetan Ghate observed that the conquest of Indian inflation is certainly not a done deal. Retail inflation had jumped to a seven-month high of 3.58% in October from 3.28% in September. The incessant rise in global crude oil prices and the resultant increase in domestic prices, the hike in minimum support prices for wheat, the expected upside from pay revision for government employees all added to a disturbing outlook for inflation, which each member noted.

click here to subscribe us for free >>http://ripplesadvisory.com and call us:-9644405056

Barring Dholakia, all members felt that inflation has the potential to stay above the target level and an expected pick-up in growth would only ensure this. The Reserve Bank of India (RBI) had increased its inflation forecast for the second time in December and now expects retail inflation to be 4.3-4.7% for the second half of the current fiscal year.

The members also shared the worry over growth as they observed that gross value added (GVA) for September quarter was slightly below forecast. Known hawk and RBI official Michael Patra stated that he is far from being sanguine on growth. Dholakia is of course the most worried and unlike other members believes the output gap is unlikely to close.

While the output gap continued to be the main feud among members particularly Dholakia and Patra, members also differed on what should RBI pay attention to—growth or inflation. Dholakia downplayed RBI’s forecasts on inflation and argued that the sagging investment warrants a rate cut. Deputy governor Viral Acharya prescribed better transmission of past policy rate cuts onto lending rates to revive investment instead of more rate cuts. Patra believed that reforms are the only way to reinvigorate investment and not monetary stimulus.

It is clear that MPC is united in its worry but divided in the cure. Perhaps another round of economic data would unite them about the cure too.

Tuesday 12 December 2017

Markets Live: Sensex trades lower, Nifty below 10,300, Dr Reddy’s shares rise 5%

click here to subscribe us for free >>http://ripplesadvisory.com/ and call us:-9644405056


The BSE Sensex and the NSE Nifty were trading lower on Tuesday ahead of key inflation data. The government will announce Consumer Price Index (CPI) and Index of Industrial Production (IIP) data later in the day.

Market update

BSE Sensex trades lower by 81.14 points, or 0.24%, at 33,374.65, while the Nifty 50 falls 31.70 points, or 0.31%, to 10,290.55.

Dr Reddy’s shares rise 5% after USFDA issues EIR

Dr Reddy’s Laboratories Ltd rose 5% to Rs2,287.85 after the company said the US Food and Drug Administration (FDA) issued an Establishment Inspection Report (EIR), stating closure of audit for the company’s formulations manufacturing plant 3 at Bachupally in Hyderabad.

10-year bond yield hits near 17-month high

The 10-year bond yield was at 7.226%, a level last seen on 27 July 2016, compared to its previous close of 7.175%. Bond yields and prices move in opposite directions. It gained for the fourth session to hit nearly 17-month high.

Rupee opens lower against US dollar

The rupee was trading at 64.44 a dollar, down 0.11% from its Monday’s close of 64.37. The rupee opened at 64.46 a dollar on Tuesday.

Sensex, Nifty open in the red

BSE Sensex trades lower by 76.56 points, or 0.23%, at 33,379.23, while the Nifty 50 falls 29.10 points, or 0.28%, to 10,293.

Opening bell: Asian Markets open Subdued; Tata Communications, EIH in News

Asian stocks little changed in morning trade

Asian markets opened subdued. According to Bloomberg, market participants are awaiting the US and European central bank meetings this week for further clues. Overnight, the US stocks closed with modest gains. S&P 500 at 2,659 points is up 0.3%.

Tata Communications’s 15-year wait to spin off land assets nears end

Tata Communications Ltd will soon hive its property holdings into a separate company, which will subsequently be listed, capping 15-year effort of the firm, reports Bloomberg.
Eight Capital, Centrum eye stake in Hindustan Dorr-Oliver

click here to subscribe us for free >>http://ripplesadvisory.com/ and call us:-9644405056


Eight Capital Group and Centrum Capital Ltd are in a race to pick up a majority stake in Hindustan Dorr-Oliver Ltd, which is currently facing corporate insolvency proceedings. 

EIH’s Oberoi hotel in Delhi to reopen

EIH Ltd’s The Oberoi hotel in Delhi is set to welcome guests after renovation, reports Business Standard. According to the report, the company is estimated to have spent approximately Rs600 crore on renovation.

Canara Bank plans to hire bankers for up to Rs3,500 crore QIP

State-owned Canara Bank Ltd plans to raise capital by selling shares and is looking to hire merchant bankers for the same, reports Mint. The bank is planning to raise up to Rs3,500 crore through qualified institutional placement (QIP).

November consumer inflation data today

India’s retail inflation likely breached the central bank’s 4% medium-term target in November after unseasonably heavy rains sent food prices soaring, a Reuters poll showed. The consumer retail inflation data due to be released on Tuesday is seen rising to 4.2% in November, the report adds.

Wall Street closes higher Ahead of Fed Meeting; Stocks Rise Worldwide

US stocks closed higher on Monday as investors prepared for an expected Federal Reserve rate hike later in the week, while stocks rose around the world on continued solid global economic growth indicators.

The Dow Jones Industrial Average and the S&P 500 opened flat after news of an explosion in New York's busy Port Authority commuter hub which New York Mayor Bill de Blasio described as an "attempted terrorist attack."

US stocks edged higher after worries receded over the explosion.

click here to subscribe us for free >>http://ripplesadvisory.com/ and call us:-9644405056


"The market makes an assessment almost immediately as soon as new information comes in, and this is what you're seeing," said Quincy Krosby, chief market strategist at Prudential Financial in New Jersey. "You're seeing the equity market move higher and the Treasury yields climb just a bit."

The Dow Jones Industrial Average rose 56.87 points, or 0.23 percent, to 24,386.03, the S&P 500 gained 8.49 points, or 0.32 percent, to 2,659.99 and the Nasdaq Composite added 35.00 points, or 0.51 percent, to 6,875.08.

Gains in the energy and technology indexes helped boost Wall Street. CenturyLink rose 8.18 percent after the telecom provider signed a 5-year contract with the Commonwealth of Pennsylvania.

MSCI's gauge of stocks across the globe gained 0.38 percent.
"There's somewhat of an enthusiasm that global growth is more synchronized than it's been in a long time, and it's synchronized in the right direction," said Scott Wren, a senior global equity strategist at Wells Fargo Investment Institute in St. Louis, Missouri.

MSCI's emerging market stock index rose 0.83 percent. Its broadest index of Asia-Pacific shares outside Japan closed 0.81 percent higher, while Japan's Nikkei rose 0.56 percent.

The pan-European FTSEurofirst 300 index lost 0.01 percent.

Tuesday 5 December 2017

Bitcoin Bigger than Buffett, Boeing, New Zealand's Economy

Bitcoin’s extraordinary price surge means its market capitalisation now exceeds the annual output of whole economies, and the estimated worth of some of the world’s top billionaires.

With debate over its bubble status still raging, the flagship cryptocurrency continued its march higher on Monday, solidifying above $11,000 and bringing its climb this year to more than 1,000 per cent. With market tracker Coinmarketcap.com putting the total value of all bitcoins in circulation at $190 billion, it’s come a long way from August, when one coin could buy you a hefty supply of avocados.

Here are five things that have been eclipsed by bitcoin in terms of market capitalisation:

New Zealand’s GDP

The South Pacific nation’s farm-and-tourism-led economy is valued at $185 billion, according to World Bank data as of July, putting it some $5 billion below bitcoin. The cryptocurrency’s market cap is also bigger than the likes of Qatar, Kuwait and Hungary.

click here to subscribe us for free >>http://ripplesadvisory.com/ and call us:-9644405056


Goldman Sachs, UBS

Bitcoin’s run-up has even seen it valued more highly than two of the world’s most influential banks. Goldman Sachs Group Inc’s market cap was $97 billion as of Friday, while Zurich-based UBS Group AG came in at about $67 billion. Add those numbers together and it still falls short of bitcoin.
Both financial heavyweights have taken a hands-off approach to the digital currency, with Goldman chief executive Lloyd Blankfein saying it’s too early to draft a bitcoin strategy and UBS — the world’s biggest wealth manager — saying it won’t allocate it in portfolios because of the threat of a government crackdown.

Boeing

It makes jumbo jets but Boeing Co’s market cap of $162 billion is also less than that of a digital currency that didn’t exist 10 years ago. The Chicago-based company, which describes itself as the world’s largest aerospace firm, is more than a century old and employs 140,000 people in more than 65 countries, according to its website. Rival Airbus SE fares no better — it’s got a market value of ^66 billion ($78 billion).

Fourteen aircraft carriers

If bitcoin’s market cap could be used to buy military equipment, it would pack a mighty punch. USS Gerald R Ford, first of a new class of nuclear-powered supercarriers, was delivered to the US Navy in May. It cost an estimated $13 billion. So if investors put all their bitcoins together they would be able to buy a fleet of 14 ships.

Bill Gates, Buffett, the Queen

They sit atop Bloomberg’s Billionaires Index, but even if Bill Gates and Warren Buffett pooled their fortunes they wouldn’t have enough to buy all the bitcoins in circulation. Gates is worth $90 billion and Buffett has $83 billion, according to the index. Not even Queen Elizabeth II could get them over the line if she brought her $383 million to the table. While we don’t know what he told Katy Perry, Buffett has called bitcoin a “real bubble” in the past.


Monday 4 December 2017

Support for Nifty is seen at 9950, Resistance at 10280

NIFTY VIEW:

The weekly and daily trend are down in Sensex, Nifty & Bank Nifty. Nifty has its crucial support at 10,100 levels a break of which would be a threat of further erosion to 9900-9800 levels. The support for the week is seen at 9,950 while resistance is seen at 10,280. View is now corrective unless Nifty bounces back above 10,350.

BUY IDFC
CMP: Rs 60.90
TARGET: Rs 67.50
STOP LOSS: Rs 58

The stock has been gradually on the rise and with a series of small higher bottom formation pattern in the daily chart, it has been gaining strength and has potential to rise further in the coming days. With favourable factors like the RSI indicating a trend reversal thus signaling a buy, technically this stock looks attractive with an upward bias. With decent volume built up witnessed, we recommend a buy in this stock for an upside target of 67.50 keeping a stop loss of 58

BUY KIRLOSKAR ELECTRIC (KECL)
CMP: Rs 44.15
TARGET: Rs 48.50
STOP LOSS: Rs 42

click here to subscribe us for free >>http://ripplesadvisory.com/ and call us:-9644405056

The stock has been consolidating for quite some time at around 42 – 43 levels and now has produced a positive candle in the daily chart to signify potential to regain a pullback and give a further rise in the coming days. We anticipate the stock to scale up to 48-49 levels and with favourable factors supporting our view of a positive bias and also with decent volume activity seen, we recommend a buy in this stock for an upside target of 48.50 keeping a stop loss of 42.

BUY MASTEK
CMP: Rs 367.80
TARGET: Rs 405
STOP LOSS: Rs 345

The stock has been in an upward trending mode in the past 2-3 months and now after a short correction has again bottomed out at around 355 levels and has indicated a positive candle pattern in the daily chart. The stock looks attractive for still further rise in the coming days with potential and strength to scale up to 405 and higher levels. With the RSI indicating a trend reversal and signaling a buy and also with decent volume participation in the stock, we recommend a buy for an upside target of 405 keeping a stop loss of 345.

JSW Energy up 2% as Secures PPA of 208 MW

Shares of JSW Energy rose 2.2 percent intraday Monday as it has secured (power purchase agreements) PPAs aggregating to 208 MW.

This PPA consists 176MW PPA with Haryana Power Purchase Centre to be supplied from the Karcham Wangtoo Hydro Electric Project of Himachal Baspa Power Company, a 100 percent subsidiary of the company.

And 32MW under group captive scheme to be supplied from the Ratnagiri plant of the company.

With this, the long term PPA proportion of the company on a consolidated basis has increased from 64.6 percent at end of Q2FY18 to 69.3 percent currently.

At 09:42 hrs JSW Energy was quoting at Rs 85.20, up Rs 1.45, or 1.73 percent on the BSE.

The share touched its 52-week high Rs 89.25 and 52-week low Rs 54.70 on 01 December, 2017 and 27 December, 2016, respectively.

Currently, it is trading 4.76 percent below its 52-week high and 55.39 percent above its 52-week low.

click here to subscribe us for free >>http://ripplesadvisory.com/ and call us:-9644405056

Opening bell: Asian Markets open Mixed; Infosys, DLF in News

click here to subscribe us forfree >>https://www.facebook.com/ripplesadvisorypvtltd/

US stocks end lower; Asian markets open mixed

Stocks finished lower on Friday after a report that Michael Flynn was directed by President Trump to talk to Russians sent investors on a wild ride.

Asian markets began the Monday session on a cautious note following a decline in US stocks on Friday.

Infosys appoints Capgemini’s Salil S. Parekh as CEO and MD

Salil Satish Parekh, who lost out to Vishal Sikka the last time Infosys Ltd was hunting for a new chief executive in 2014, has now been tasked with leading the company a little over four months after Sikka’s acrimonious exit, with chairman Nandan Nilekani and the board putting their faith on an industry veteran of nearly three decades.

RBI seen keeping rates unchanged

The Reserve Bank of India (RBI) is likely to keep interest rates on hold for a prolonged period starting with its policy meeting this week on concerns of rising inflation, economists surveyed by Mint said.

JSW Infra, Essar Ports, Royal Vopak among firms vying for Sterling Port

Domestic and foreign port operators have shown interest in buying the upcoming Sterling Port in Dahej. Read more.

DLF to raise Rs11,250 crore from promoters

DLF Ltd, India’s largest real estate developer, will raise around Rs8,250 crore and Rs3,000 crore, respectively, through an issuance of compulsorilyconvertible unsecured debentures (CCDs) and warrants to promoters, the company said after a board meeting.

Vijaya Bank to raise Rs1,300 crore via bonds in FY18

Public sector lender Vijaya Bank said that its board has approved raising Rs1,300 crore via bonds in the current fiscal under the Basel III global capital adequacy norms.

FPIs inflow hit 8-month high in November

Foreign investors pumped over Rs19,700 crore into the country’s stock markets in November, the highest in eight months, mainly due to government’s plan to recapitalise PSU banks and surge in India’s ranking in the World Bank’s ease of doing business.

PE exits through IPOs cross $1 billion in 2017

In yet another successful year of exits, private equity (PE) funds sold shares worth $1.17 billion in 2017 as their portfolio companies went public, data from Venture Intelligence shows.

Friday 1 December 2017

RBI Given Ammunition to hold Rates as Indian Economy Recovers

click here to subscribe us for free >>http://ripplesadvisory.com/ and call us:-9644405056

India’s economic growth bounced back from a three-year low, giving the central bank enough ammunition to keep interest rates on hold 6 December amid an uptick in inflationary pressures.

Gross domestic product in Asia’s third-largest economy expanded 6.3% in July to September from a year earlier, the statistics ministry said in a statement in New Delhi on Thursday. That’s slower than the 6.4% median estimate in a Bloomberg survey of 51 economists but faster than 5.7% in the previous quarter. Gross value added, a key input of GDP tracked by the central bank, rose 6.1% compared with an estimated 6.2% gain.

It comes as good news for Prime Minister Narendra Modi who is facing elections in his home state of Gujarat on 18 December. He has been grappling with slowing growth in the past five quarters, with the economy dragged down by subdued private investments, an unprecedented cash ban imposed last year and the introduction of a country-wide consumption tax in July.

“After five quarters we are seeing a reversal — it is very encouraging,” TCA Anant, the government’s chief statistician told a press conference in New Delhi. He added the manufacturing sector had led the recovery as the impact of the new goods and services tax began to wane. The tax had hit entire supply chains with costs for businesses jumping, hurting sentiment.

Data showed manufacturing GVA rose 7% in July-September from a year earlier, while trade, hotel and similar services rose 9.9%.

Thursday’s data underlined that a nascent recovery is taking place and expectations are building that private investments will pick up next year after a landmark proposal to recapitalize struggling state-run banks. That may unclog bank credit to industry and lead to higher investment growth.

Encouraging trend

“Looks like India’s turning a corner,” said Devendra Pant, chief economist at India Ratings & Research.

“Although we believe there is some effect of the low base of last year’s second quarter, the growth trend in core GVA — that’s excluding state and farms’ spending — is very encouraging. There seems to be some restocking after GST and manufacturing is doing relatively well. This trend needs to be nurtured.”

India’s trade was a drag on the economy in the July to September quarter, with exports lagging. That prompted one of Modi’s key advisors to pile pressure on the central bank, calling for it to weaken the rupee and boost exports. “It cannot say it won’t interfere in the money market,” Rajiv Kumar, vice-chairman of Niti Aayog, told news channel Zee Business. “Reserve Bank of India has to arrest the strength in the rupee.”










 









RBI on hold

An acceleration in growth is expected to prompt RBI governor Urjit Patel to be more hawkish in next week’s rate review. The benchmark rate is at its lowest in seven years, while consumer price inflation has surged to a seven-month high, inching towards the central bank’s medium-term target range of 4%.

Along with expectations that inflation will rise given the hardening in global crude oil prices, there are growing concerns that the government may have to borrow more to plug any fiscal slippage due to slowing revenues. This has driven government bond yields higher in the past few months.

“Today’s data points rule out any policy rate reduction in December,” said Rupa Rege Nitsure, chief economist at L&T Finance Holdings Ltd. “The RBI will be duly worried about worsening fiscal position and hardening of crude oil and other mineral prices. However, they will not raise the rates soon as overall investment sentiment is still weak.”

Bloomberg economics analyst Abhishek Gupta, however, says unless the RBI eases policy soon, investments are unlikely to pick up.

“On one hand we have structural reforms, which are pointing to potential growth, and on the other, RBI’s tight monetary policy is holding back consumption and investment,” Gupta said. “We expect the RBI to cut rates in December and switch to an accommodative stance.” Bloomberg

Received loan not Grant from Gujarat Government: Tata Motors

click here to subscribe us for free >>http://ripplesadvisory.com/

Automobile major Tata Motors has said it received a loan worth Rs 584.8 crore and not a "grant" from Gujarat government for setting up a factory in the state.

"The investor friendly environment created by the Government of Gujarat (GoG) encouraged Tata Motors to set-up its manufacturing plant in Sanand, with a long-term vision to make it one of the leading automotive hubs, further enabling Gujarat to contribute to the prosperity and growth of India," the automobile major said in a statement on Thursday.

"Given the scale of the project and its potential to drive growth in the state, the GoG offered Tata Motors an incentive package in the form of a loan (not a grant), which is to be repaid to the state government as per the Loan Agreement executed. The loan given to Tata Motors from the GoG is from taxes paid by Tata Motors. Until now, the state government has given a loan of Rs 584.8 crore to Tata Motors."

The development comes after Congress Vice President Rahul Gandhi had alleged the state government had doled out favours worth crores to the company to set up its factory in the state.

"Since the establishment of the Sanand plant, there has been a spurt in economic activity and growth in employment (direct and indirect) within the state, making Gujarat one of the key auto hubs within the country with huge employment generation," the statement said.

"The project has also given rise to capital investments which has further resulted in the development of incidental industrial activities and employment generation in small and medium scale industries."

Skill India to Train 20,000 Youth in Textile Sector

About 20,000 youth across the country would be skilled by 2020 in apparel, made-ups and home furnishing sectors in collaboration with textile major Arvind Ltd, said Skill Development and Entrepreneurship Minister Ananthkumar Hegde on Thursday.

click here to subscribe us for free >>http://ripplesadvisory.com/

"We have started skill training of about 1,000 youth as the first batch in Bengaluru and will soon extend it in other cities through the National Skill Development Corporation under the Pradhan Mantri Kaushal Vikas Yojana," he said.

Arvind Ltd (formerly Arvind Mills) is the flagship company of the Ahmedabad-based Lalbhai Group and manufactures cotton shirting, denim, knits and fabrics.

As the second largest employment generator in the country, the textile sector has huge demand for skilled candidates.

The job roles, aligned to the National Skills Qualifications Framework, encompass training of candidates for three to six months. The skills are being provided at Arvind's nine training centres across the state.

"The youth will be trained to become specialised sewing machine operator, quality check executive in sewing line, packer, pressman and washing machine operator," said Hegde.

The training is open to all skill seekers, especially the unemployed youth in 18-35 years age group.

"Corporate India can be a major contributor to this nation-building exercise. The industry can utilise its expertise and provide relevant training to the youth in accordance with the demands," he said.

The training will enhance productivity and employability opportunities for the youth and provide ready talent pool to the industry.

"As inclusive approach is key to sustainable skill development,Acorporates can play pivotal role in bridging the demand-supply gap of skilled workforce," said NSDC Chief Executive Manish Kumar.

R-Power inks Agreement for Bangladesh Power Plant, LNG Terminal

Reliance Power (RPower) announced on Thursday said that it has signed the project agreements for executing the first phase of its gas-fired power plant and liquefied natural gas (LNG) terminal integrated project in Bangladesh.

"Reliance Power today (Thursday) completed execution of project agreements for Phase - I of its project in Bangladesh," an RPower release said here. 

"The first Phase of Reliance Power's integrated project consists of 750 MW combined cycle gas based power plant to be set up at Meghnaghat near Dhaka and 500 mscfd (million standar cubic feet per day) LNG Terminal at Kutudbia Island in Bangladesh," it said.

click here to subscribe us forfree >>http://ripplesadvisory.com/ 

R-Power said the Terminal Use Agreement for the LNG Terminal project was signed with Bangladesh state-run PetroBangla.

"The project agreements for the power project have already been executed with Bangladesh Power Development Board (BPDB)," it added.

The integrated project entails an investment outlay of over $1 billion, which represents the largest foreign direct investment (FDI) in Bangladesh and the largest investment in the country's energy sector, the statement said.

"Reliance Power will relocate one module of world-class equipment procured from internationally reputed original equipment manufacturers for its 2,250 MW combined cycle power project at Samalkot in Andhra Pradesh, for the Phase-1 project in Bangladesh," it said.

The MoU for the integrated project was signed in June 2015 in Dhaka during the Bangladesh visit of Prime Minister Narendra Modi.

"The Reliance project will give a tremendous boost to the economic and industrial growth of Bangladesh and will enhance the energy security of the country with clean, green and reliable LNG based power," it added.

Opening bell: Asian Markets Mixed; LIC, Bank of Baroda, McLeod Russel in News

click here to subscribe us forfree >>https://www.facebook.com/ripplesadvisorypvtltd/

Asian markets little changed in opening trade

Asian markets opened mixed. Stock markets outside Japan were little changed in the morning trade. Overnight, the US markets closed with gains. S&P 500 at 2,647 points is up 0.8%.

GDP growth rebounds to 6.3% in September quarter

India’s GDP growth quickened to 6.3% in the September quarter, up from a three-year low of 5.7% in the June quarter.

Union budget 2018 to focus on infra, rural sector

The big focus of next year’s Union budget will be spending on infrastructure and the rural sector, finance minister Arun Jaitley said, reports Mint.

LIC pares stake in Bank of Baroda

Life Insurance Corporation of India (LIC) has offloaded over 2% stake in Bank of Baroda in an open market sale in the last two months.


Nomura buys 9% in McLeod Russel for Rs205 crore

A trust controlled by the Williamson Magor Group sold 9.1% stake in McLeod Russel India to investment arms of Nomura for about Rs205 crore, reports The Times of India. According to the report, the move was aimed at reducing the debt burden of the company.

Airtel, Vodafone looking to buy RCom’s airwaves

Bharti Airtel and Vodafone India are keen to acquire some spectrum from Reliance Communications to add to their airwave holdings in key markets, reports The Economic Times.

Dr Reddy’s gets nod to restart exports to EU from Vizag plant

Dr Reddy’s Laboratories has said a German regulatory authority has allowed the company’s Visakhapatnam-plant to restart production for the European Union market, reports PTI. However, the regulator will re-inspect the facility, the report adds.

HDFC, Standard Life to dilute stake in AMC unit through IPO

The board of HDFC Asset Management Co. Ltd (HDFC AMC) has approved its proposed initial public offering (IPO). Both the shareholders of the AMC—HDFC Ltd and Standard Life Investments Ltd—will sell parts of their stakes to the public in the share sale.

Moody’s expects India’s air traffic growth to moderate in two years

Lastly, India’s blistering pace of air traffic growth will moderate to a healthy 8-10% in the next two years, credit rating agency Moody’s Investors Service said, reports Mint. The figure 8-10% applies to combined domestic and international traffic growth.