EM
Chinese, Indian stocks favoured over Japan in Asia’s second half
Expected Federal Reserve interest-rate cuts are poised to benefit two key emerging markets: China and India. Survey respondents expressed a preference for Chinese stocks due to their attractive valuations and anticipated policy shifts. Indian shares, on the other hand, were favored for post-election optimism and their relative resilience to geopolitical tensions.
Will consumer durables & EMS stocks see another round of re-rating? 7 stocks with an upside potential of up to 24%
There are talks of the budget being focussed on two things, one giving continued push to investment and second to increase the disposable income in the hands of people. The second could be done by cutting taxes or making changes with the tax slab. While many sectors will feel the impact but one of the sectors which may feel maximum impact is the consumer durable sector. Now given the fact that the consumer durable sector has a closed link with the EMS companies, they both have to be looked at together. Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. SR+ Reports is a complimentary offering to ETPrime members.
Quant Mutual Fund raises bet on HDFC Bank shares, top holding in most schemes
Geojit Financial Services' Dr. V K Vijayakumar anticipates HDFC Bank's augmented Nifty weight to fuel additional delivery based buying, boosting the stock under active funds' support.
HDFC Bank shares up 11% in 1 month. MSCI review could be the next trigger
Shares of underperforming heavyweight HDFC Bank, which have bounced back by 11% in the last one month amid value buying by large foreign investors, can jump another 10-15% if its weightage in MSCI increases in August review.
Indian government bonds join JP Morgan EM Bond Index
EMBI was formed in the early 1990s which has various high yielding local rates indices like the Government Bond Index-Emerging Markets (GBI-EM) series and the Corporate Emerging Markets Bond Index (CEMBI) series and are considered standard benchmarks by many developed economies’ investors, according to a press release by Mirae Asset Mutual Fund.
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First day JPM flows not a deluge, but bankers confident of steady flow going ahead
From Thursday to Friday, foreign portfolio investors (FPIs) increased their holdings in the index-eligible Fully Accessible Route (FAR) suite of government bonds by Rs 1,545.16 crore, bringing the total to Rs 1.86 lakh crore, according to data from the Clearing Corporation of India Ltd (CCIL) released at 6 pm. This increase left traders somewhat disappointed, as some market segments had anticipated a surge exceeding Rs 10,000 crore on Friday alone.
India inclusion in JP Morgan Bond index from today, $25-30 bn flow expected. What it means
India, which has been on index watch since October 21, upon its inclusion will have the single highest duration across the index at 7.03 years, with an above average yield-to-maturity at 7.09%, a JP Morgan note said.
TVS Electronics adds electronics manufacturing services at Karnataka plant
TVS Electronics added an Electronics Manufacturing Services capability at its Tumakuru facility in Karnataka, offering PCB assembly, product testing, box building, and supply chain solutions. The Chief Business Officer, Sathya Doraisamy, highlighted the commitment to enhancing manufacturing capabilities and strengthening the Make-in-India initiative. Shares settled 2.11% lower at Rs 330 apiece on the Bombay Stock Exchange.
EM bond rally threatened as hawkish flags multiply
The balmy days of dovish monetary policy that fuelled a rally in emerging-market bonds looks to be over as central banks across the developing world turn more hawkish.
Electronics cos charged up for big revenue boost, set to double revenues to $55 billion by FY2027
India's EMS industry revenues are projected to double to $55 billion by FY27, driven by local component sourcing. Apple, Samsung, Lenovo, and other global firms are set to expand operations in India.
A welfare reset can erode India's valuation premium
India's market valuation may decrease due to potential increase in government spending on social welfare schemes. Nifty 50 index trades at 19 times forward earnings, 20% above its long-term average, while S&P 500 and Taiwanese benchmark index are also highly valued.
Monster High Movie: Check out what we know so far
Universal Pictures and Mattel are collaborating on a 'Monster High' movie. Akiva Goldsman will produce the film, which celebrates individuality and self-discovery. This project follows Mattel's successful Barbie film and is part of a broader strategy to leverage its intellectual property.
India’s premium valuation may come under pressure amid fractured election mandate
Nearly half of the Nifty 50 constituents currently trade at a premium to their historical averages. Among major global indices, the S&P 500 trades at a forward price-earnings (P/E) of 20.6, 29% higher than the long-term average
Listen closely: From Google smart speakers to Paytm soundboxes, these businesses are thriving in manufacturing
Making for others can be more lucrative than building a brand for themselves — this realisation has created a brigade of small contract manufacturers who are making India’s place prominent in the global electronics manufacturing services map.
Foreigners pull money out of EM portfolios after five months of inflows
Foreigners pulled money from emerging markets in April, with outflows from Indian and Indonesian stocks leading to a -$0.7 billion net outflow. China equities also saw small outflows in April.
Park Hotels consolidated EBITDA margin for FY24 was 35% and is going to go up further: Vijay Dewan
Apeejay Surrendra Park Hotels, led by MD Vijay Dewan, reported a consolidated EBITDA margin of 35% for the past year, with plans for further improvement through efficiency measures and hotel upgrades. He says going forward, the EBITDA margins are going to further improve and a significant improvement in PAT in the coming year is expected as well.
India stands out for EM investors in ageing world
The investors are focusing on the two nations in emerging Asia, thanks in part to an expected boom in infrastructure spending, which in turn bodes well for the countries' economies.
India’s electronic manufacturing service industry is humming — now to stick to the flight path
India's competitiveness will depend on continuing reforms, de-bureaucratisation, contract enforcement, effective dispute resolution mechanisms, last-mile facilitation, building of sectoral ecosystems, and governance law and order stability.
Paytm, Canara Bank among 26 stocks in focus ahead of MSCI rejig on May 15
MSCI's reshuffle on May 15 may eject Paytm from the MSCI Global Standard index, potentially attracting $2 billion from passive funds. Nuvama estimates 12 stocks to join, with inflows ranging from $144 million to $224 million each.
Howard University in US cancels students ceremony. Check shocking reason
Howard University in the US was forced to cancel graduation mid-ceremony.
Most clients set up to trade in Indian bonds before index inclusion: JP Morgan
India's upcoming inclusion in JP Morgan's GBI-EM Global Index Suite involves positive market feedback and enhanced accessibility for FPIs through Fully Accessible Route bonds, leading to increased interest from investors globally.
Dixon Technologies signs pact with Nokia to manufacture telecom products
Dixon Technologies has disclosed that it has truck a deal with Nokia to design and produce telecom equipment. According to a filing with the stock exchange, Dixon Electro Appliances, a wholly owned subsidiary of the electronics manufacturing (EMS) company, will handle manufacturing operations at its Noida, Uttar Pradesh facility.
Dangle less tax and watch 'em go
Personal income-taxpayers in India live in an abnormal environment of taxation where they get next to nothing for compliance and good citizenry. Sure, it can be argued that they get roads, utilities and other infra. But these are delivered to all citizens, including those who systematically evade taxes, giving honest taxpayers only the advantage of a good conscience.
Positive year but don’t expect bull runs like in last 2-3 years; elections not a catalyst to get into India: Amit Sachdeva
Amit Sachdeva from HSBC Securities discusses market strategies, positive outlook on Indian market, manufacturing growth, and sectoral preferences. Despite challenges, anticipates market growth with a focus on robust sectors and balanced investments for long-term returns. Sachdeva says: "The structural momentum for India is here to stay and that is the reason we maintain a little bit of positive bias on India, which remains an overweight market for us ."
Emerging-market bulls tout Modi premium as election nears
Investors remain bullish on India's stock market performance under Prime Minister Narendra Modi's govt, anticipating stability, growth, and continued attractiveness to global funds. Modi's focus on manufacturing, infrastructure, and addressing electorate concerns are key expectations.
ETMarkets Smart Talk: Why Indian stock market could trade at high valuations vs EMs; Aditya Sood decodes
Aditya Sood of InCred Asset Management anticipates high market valuation with strong earnings growth in Nifty50 companies. India's stock market premium valuations are supported by superior ROE and high growth potential over the next decade. Sood says: "The market return is going to be a function of earnings growth rather than multiple expansion."
This stock gave 82% returns last year; know why analysts are bullish on its growth
Syrma SGS Technology caters to diverse verticals like industrial appliances, automotive, healthcare, consumer products, and IT. It offers a diversified product portfolio that includes PCBA (printed circuit board assembly), Box Build and RFID (radio frequency identification) tags. Should you invest in Syrma SGS Tech now?
$5 billion boost! Bloomberg to add Indian bonds to EM indices from 2025
The inclusion of Indian bonds in the Bloomberg EM index may bring inflows of $5 billion from passive investors and more likely from active investors as well. In 2023, JPMorgan announced the inclusion of Indian sovereign bonds in its emerging markets index with a maximum weightage of 10% starting June 2024, which is estimated to bring inflows of $20-30 billion.
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