Global brokerage major HSBC has upgraded Indian equity markets to "neutral", saying ‘green shoots’ are emerging and has increased its Sensex target for the year to 26,000 from 25,000. According to the financial services major, Indian equity market has underperformed and its premium to the rest of the region is shrinking. Moreover, macroeconomic data like PMI and auto sales suggest the earnings environment might improve. "We raise India to neutral in an Asian context. Rediff.com, 2 months ago
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India's GDP is likely to ‘auto correct’, and the headline growth of the country in this fiscal is expected to remain flat at 7.4 per cent, says an HSBC report. According to the global financial services major, India's new gross domestic product series seem to exaggerate the economy's true growth rate and this overestimation is likely to narrow over the next few quarters. "As prices normalise over the next six quarters, this overestimation should gradually narrow," HSBC said ...Rediff.com, 2 months ago India's GDP is headed towards auto-correction Rediff.com, 2 months ago
The Indian economy expanded 7.6 per cent in 2015-16. India with a low leverage score looks promising among emerging Asian countries, which can deliver a solid growth rate and where the potential for a significant expansion is maximum, says an HSBC report. According to the global financial services major, emerging Asia falls into two blocs -- the first is highly export-sensitive market (Korea, Taiwan, Hong Kong, Singapore, Malaysia, and Thailand) and the second is of more closed ...Rediff.com, 1 month ago
In February, Zomato had claimed to become profitable in six regions, including India, after achieving operational break-even of its businesses. Hitting back at HSBC analysts for marking down its valuation by half at $500 million, online restaurant guide and food ordering firm Zomato on Monday said the investors have backed the current valuation. In a mail to the company's 2,100 employees, Zomato founder and CEO Deepinder Goyal hit out at the HSBC report and said the "assumptions and statements" ...Rediff.com, 2 months ago
At $45 billion, it has gone ahead of biggies such as Barclays, ING, Deutsche Bank and Credit Suisse HDFC Bank is now more valuable than many European banks such as Barclays, ING, Royal Bank of Scotland, Credit Suisse and Deutsche Bank. Only five European banks are worth more than HDFC Bank, compared to 14 last year, as a result of the crisis in the continent’s banking system. At its current stock price, HDFC Bank is worth around $45 billion (Rs 3.02 lakh crore), more than twice ...Rediff.com, 1 week ago
The blockchain, the public ledger that tracks every bitcoin transaction, is changing commerce as we know it, says Devangshu Datta. Photograph: George Frey/Getty Images Columbus famously found a new continent while looking for a new route to reach an old one. Alexander Fleming discovered penicillin by leaving a petri dish unwashed. In years to come, the blockchain will be added to such lists of serendipitous discoveries. The blockchain is a digital ledger. It was invented to track a digital ...Rediff.com, 1 week ago
Analysts mostly prefer domestic plays beside select films with foreign exposure. Despite stocks such as Hindustan Unilever (HUL), Britannia, Havells and M&M Financial running up steeply after the Union Budget and March quarter results, they remain favourites of fund managers and brokers. The preference for these has increased after the event of Britain exiting from European Union (EU) or Brexit, as they are resilient to the likely impact of foreign exchange (forex) fluctuation on the rupee ...Rediff.com, 3 weeks ago
'Experts are not ruling out further pain as global factors cannot insulate India from the aftermath.' Investors around the world got a shock on Friday when the ‘unthinkable’ became a reality as the UK voted to exit the European Union (EU). Despite a late swing in opinion polls towards the ‘remain’ camp, British citizens voted to end the country’s membership. The outcome shook the financial world, with financial instruments collapsing like ninepins. As a ...Rediff.com, 3 weeks ago
Sending money to families in India will get more expensive The turmoil arising from Brexit has affected the mood among UK-based NRIs as well, who are struggling to gauge its impact on their personal finances. IT professionals expect an impact over the long-run. “Many IT multinationals, which had their European headquarters in the UK, may think of relocating to Germany or France, if access to Europe becomes restricted,” said Shambhu Kumar, a senior manager with Hitachi Consultant.Rediff.com, 3 weeks ago
Switzerland on Tuesday named Lalit Modi and his wife Minal among those about whom information and assistance have been sought from its tax department by the Indian authorities. In two separate gazette notifications issued on ‘assistance’ matters, the Swiss Federal Tax Administration also gave Modi and his wife 10 days for “exercise of the right to be heard”. Without divulging further details, the FTA notifications asked them to inform about a designate authorised ...Rediff.com, 1 month ago
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