Page 14 - Morgan Stanley

Russia's exclusion may pave way for India into global bond index

Getting high-yielding Indian sovereign bonds into global indexes would make it easier for overseas investors to put their money into Asia's third-biggest economy with its $1 trillion debt market

'JP Morgan may include G-Secs in global bond index as early as next week'

Even though the government is yet to make up its mind on inclusion of G-Secs (Government Securities) in global bond indices, Wall Street brokerage Morgan Stanley expects indices major JP Morgan to make an announcement in this regard as early as next week. On Monday finance minister Nirmala Sitharaman told an industry gathering that the 2020 budget proposal on allowing bond inclusion in international indices could not move forward as the fund flows did not meet the desired levels, due to many reasons including the Covid pandemic. Without offering any details like a timeline or the tax and stamp duty breaks that investors were demanding, Sitharaman said: "I don't know whether we're holding it back or not. I think global situation changed a lot since I made that statement in the 2020 budget. "Global fund flows have not been as big as we wanted it to be primarily due to other reasons. So it'll come to its natural, logical conclusion soon." According to the RBI data, G-Secs outstanding

RIL's current investment cycle less aggressive, says Morgan Stanley

Brokerage says this will reduce the cost of the company's equity, raises price target on stock to Rs 3,085

Index inclusion of Indian bonds a good bet for long run: Morgan Stanley

Morgan Stanley sees a "good chance" of JPMorgan including Indian government bonds in its index, and recommended going long on the 10-year benchmark bond yield

Morgan Stanley Asia buys 940,000 shares of ACC shares worth Rs 215 crore

Morgan Stanley Asia on Friday bought 9.4 lakh shares of cement manufacturer ACC Ltd for over Rs 215 crore through an open market transaction. According to bulk deal data available with the National Stock Exchange (NSE), Morgan Stanley Asia (Singapore) Pte purchased 9,41,557 shares of the company. The shares were acquired at an average price of Rs 2,290 apiece, taking the transaction value to Rs 215.61 crore. Shares of ACC settled 0.43 per cent lower at Rs 2,286.50 on NSE. In a separate transaction, Societe Generale buys shares of multiplex film exhibition company PVR Ltd for Rs 60 crore through an open market transaction. Societe Generale ODI picked up 3,23,158 shares at an average price of Rs 1,861.42 per scrip, taking the transaction value to Rs 60.15 crore, as per data available with the bourse. PVR Ltd shares were closed 0.05 per cent lower at Rs 1,854 on NSE.

Goldman cuts India's growth forecast to 7%; M Stanley sees downside risks

Goldman Sachs has revised lower its growth projections for India after the April-June quarterly gross domestic product readings missed market estimates.

Goldman Sachs, Morgan Stanley order staff to return to office full-time

Goldman will let employees outside New York enter offices regardless of vaccination status, with no requirement to participate in regular testing or wear face coverings

India's worst period of macro instability possibly over: Morgan Stanley

India's worst period of macro instability is possibly over, and both consumer inflation and trade deficit are expected to moderate albeit gradually, Morgan Stanley said

Morgan Stanley bets on emerging market debt as JPM says rally unsustainable

The latest inflation data from the US spurred a risk rally as traders reduced Federal Reserve tightening wagers

India's GDP to contribute 22% to global growth, says Morgan Stanley

The Indian economy, they said, is set for its best run in over a decade as pent-up demand is unleashed

India to be the fastest-growing Asian economy in FY23: Morgan Stanley

Analysts at Morgan Stanley expect India's gross domestic product (GDP) growth to average 7 per cent in 2022-23. The Indian economy, they said, is set for its best run in over a decade.

Monetary policy: SPDs can offer all foreign exchange trade facilities

Decision comes after requests from foreign players; scope of existing licence was restrictive, say primary dealers

Indian households unlikely to stop investing in stocks, says Morgan Stanley

Despite a record rise in trading by retail investors over the past eight years, Indian households remain "dramatically" underweight in the asset class, says Ridham Desai

Domestic investors own more equities than FPIs in 75 large cos: Report

The combined holdings in equities by domestic investors (mutual funds and households) have increased by 720 bps to 25.6% in June 2022, according to the data collated by Morgan Stanley

Broking houses cut target price for RIL after disappointing Q1 show

Steepest cuts from Citi and Morgan Stanley; stock sheds 3.33% to end at Rs 2,420

Windfall tax cut to normalise equity multiples of RIL, ONGC: Morgan Stanley

Centre, on Wednesday, eliminated a levy on gasoline exports and cut windfall taxes on other fuels less than three weeks after they were imposed

Morgan Stanley cuts India's FY23 GDP forecast to 7.2%

It sees downside risks emanating from a weaker than expected global growth trend, supply-side-driven commodity price shock and faster than warranted tightening of financial conditions

Morgan Stanley expects India's FY24 GDP growth to slow down to 6.4%

It said the GDP growth will slow down to 6.4 per cent in FY24, the brokerage said, adding that this is lower by 0.30 per cent compared to the earlier estimate.

Top headlines: India reports 2nd monkeypox case; rupee settles at 79.98/USD

FM Nirmala Sitharaman on Monday said the RBI has expressed concerns over cryptocurrencies saying that they should be prohibited as they can have destabilising effect on monetary and fiscal stability

Wall Street drops as bank earnings disappoint, producer prices surge

JPMorgan, Morgan Stanley report profit miss; PPI surges more than expected in June; Conagra Brands falls on downbeat forecast