Page 6 - Morgan Stanley

Govt bond yields fall ahead of expected inflows post index inclusion

Foreign banks also stepped up purchases of bonds last week ahead of the inclusion, and is expected to continue this week as well

Olympus Capital Asia sells 9% stake in Aster DM Healthcare for Rs 1,530 cr

Hong Kong-based Olympus Capital Asia on Friday divested a 9 per cent stake in Hospital chain Aster DM Healthcare for Rs 1,530 crore through open market transactions. Investment firm Olympus Capital Asia, through its arm Olympus Capital Asia Investments, offloaded shares of Dubai-based Aster DM Healthcare on BSE. According to the bulk deal data available with BSE, Olympus Capital Asia Investments sold 4.50 crore shares or a 9 per cent stake in Aster DM Healthcare in two tranches. The shares were disposed of within the price range of Rs 340-340.13 apiece, taking the transaction value to Rs 1,530.08 crore. After the latest transaction, the shareholding of Olympus Capital Asia in Aster DM Healthcare has declined to 1.1 per cent from 10.1 per cent. Meanwhile, Franklin Templeton Mutual Fund, the Singapore government and Morgan Stanley Asia Singapore picked up a total of 1.24 crore shares of Aster DM Healthcare. The shares were purchased at an average price of Rs 340, taking the combine

Morgan Stanley buys 17 mn shares of Axis Bank for Rs 2,083 cr via bulk deal

US-based investment banking company Morgan Stanley on Friday bought 1.7 crore shares of private sector lender Axis Bank for Rs 2,083 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), Morgan Stanley & Company International Plc acquired 1,70,00,000 shares, amounting to a 0.5 per cent stake in Axis Bank. The shares were purchased at an average price of Rs 1,225.75 apiece, taking the transaction value to Rs 2,083.77 crore. Details of the sellers of Axis Bank's shares could not be ascertained. Shares of Axis Bank fell 0.60 per cent to close at Rs 1,232.10 per piece on the NSE. On Wednesday, Axis Bank increased its holding in Max Life to 19.99 per cent for Rs 336 crore. After the stake purchase, the aggregate shareholding of Axis entities increased from 19.02 per cent to 19.99 per cent. Axis Bank and its two subsidiaries - Axis Capital Ltd and Axis Securities Ltd - were allowed to collectively own about 20 per .

Vodafone to sell 10% stake in Indus Towers for up to $1.1 billion

Vodafone plans to repay part of its $42.17 billion net debt using proceeds from the Indus Towers stake sale

L&T Finance extend gains as Morgan Stanley buys stake; up 8% in two days

Shares of L&T Finance extended their gains on Friday, rising 4.5 per cent at Rs 183.20 per share on the BSE in Friday's early morning deals

Biden win would benefit bonds, Trump better for growth: Morgan Stanley CIO

Over the last 12 to 18 months, investors have favored high-quality large-cap stocks that have seen earnings revisions, which in turn generated alpha for these stocks

India's strength amid global equity caution will persist: Ridham Desai

Desai says commitment toward fiscal consolidation and push for infrastructure, manufacturing and deep tech will be the key things to watch out for in the Union Budget

Elon Musk, Morgan Stanley 'hid' Twitter stock buying, suit says: Report

An Oklahoma public pension fund claims Musk's delay in disclosing his ownership of more than 5% of the social media company artificially kept its share price down

Hyundai Motor adds Kotak, Morgan Stanley for possible record India IPO

Hyundai Motor India Ltd. plans to file for an IPO in June, International Financing Review reported earlier Monday, when it also said Kotak and Morgan Stanley were joining the syndicate

Billionaire Birla's Novelis seeks to complete US IPO as soon as June

Hindalco is seeking to raise about $1.2 billion in the IPO for Atlanta-based Novelis and may target a valuation of about $18 billion, Bloomberg News has reported

Morgan Stanley Asia private equity unit to reorganise as CEO retires

The firm has appointed Jun Xu, who is currently head of its yuan-denominated investment funds, to lead all private equity investing in China, the memo said

Morgan Stanley borrowing $8 bn in bank bond, after reporting higher revenue

Morgan Stanley's trading and wealth units' revenue cruised past analysts' estimates, following blowout earnings from peer Goldman Sachs Group Inc

Morgan Stanley, HSBC cutting Asia IB jobs on China deals slowdown

IPOs in mainland China dropped 82% from a year earlier to just $2.4 billion during the same period, the smallest quarterly fundraising since the fourth quarter of 2018, showed the LSEG data

TCS, Accenture, Cognizant lead LinkedIn's top large companies list

Tata Consultancy Services has topped the LinkedIn's latest list of top companies to work for in India, followed by Accenture and Cognizant in the second and third place respectively. Professional networking platform LinkedIn on Tuesday released the 2024 Top Companies list for India wherein IT companies bagged the top three ranks, while financial services firms dominated the list with 9 out of 25 companies from this sector. The 8th edition has derived insights from LinkedIn data, and lists the top 25 large companies, 15 best mid-size companies, and provides insights on in-demand skills, top locations, and the largest job functions within these companies. Amongst large companies (500+ employees in India), Tata Consultancy Services retained its top spot this year, followed by Accenture and Cognizant. Continuing the trend from last year, financial services dominated the 2024 list with 9 out of 25 companies from this sector including Macquarie Group (4th place), Morgan Stanley (5th), an

Morgan Stanley plans biggest round of job cuts in Asia Pacific in years

The final size and timing of the cuts may change, the people said. A media representative for the New York-based bank declined to comment.

Morgan Stanley's first quarter profit rises as investment banking rebounds

Investment banking activity has rebounded from a two-year dealmaking drought as large corporates issued near-record levels of debt and equity capital markets became more active

Interest rate cuts in India 'off the table' in FY24-25, says Morgan Stanley

The central bank seeks to ensure inflation aligns durably and sustainably to its 4 per cent target

Five things China's economists are watching to track sustainable recovery

Power production has been rebounding since China reopened from Covid-related restrictions more than a year ago

Are the stock markets prepared for a delay in interest rate cut?

As regards rate cuts, analysts expect the global central banks, especially in Asia, to follow the Fed in rate cutting cycle

Goldman, Morgan Stanley raise China's 2024 growth outlook as exports rise

The world's second-largest economy has struggled to regain momentum as the property sector and consumer spending remain weak