PRIVATE PARTIES
Starmer takes power as prime minister as UK Labour Party sweeps to power in historic election win
Keir Starmer officially became British Prime Minister following a landslide victory for the Labour Party after over a decade in opposition. He took office after a private ceremony with King Charles III at Buckingham Palace, succeeding Conservative leader Rishi Sunak, who resigned after conceding defeat. Labour secured 410 seats in the 650-seat House of Commons, with Starmer acknowledging the mandate as a responsibility to rebuild trust amid economic challenges and societal fractures.
Comeback Trail: After IT, time for large private banks to make a comeback? 6 top private banks with an upside potential of upto 40%
Today, because one private sector bank and some of the PSU banks are under pressure, the bank nifty is trading in the red. Because the bank in question, Kotak Mahindra bank has come under pressure due to one specific development which tends to be eye-catching, the whole narrative shifts to something which is not related to the core business of banking. If one leaves aside what is happening in the banks today and looks at a slightly broader picture, probably there are underlying indications of something else. A probability of a tactical investment opportunity building in the private sector banks taking place. Look at the leaders from that space, HDFC bank which has been at the forefront of getting all negative news is pretty much close to its earlier highs.
UK general election: FTA with India on manifesto agenda for both Tory, Labour
As the UK gears up for the general election, a potential free trade agreement with India remains a key focus for both the Conservatives and Labour, with negotiations stalled at the fourteenth round. The Tories aim for a comprehensive partnership, including technology and defense, while Labour criticises missed deadlines and emphasises readiness to finalise the deal. Challenges include tariff removal on Scotch whisky and concerns over visa rules for Indian workers.
US presidential debate: Private call of top Democrats fuels more insider anger about Biden's performance
Top Democratic Party leaders express mounting concern over the lack of seriousness shown by Joe Biden's campaign and the Democratic National Committee regarding the impact of the president's poor debate performance. During a call with influential committee members, concerns were raised about being asked to ignore the gravity of the situation. Some party members are publicly and privately suggesting Biden should step aside for a younger replacement at the Democratic National Convention.
Expect one more rally in PSU, railways, defence stocks before Budget: Ajay Bagga
But few of the sectoral leaders can be looked at as well as what is happening right now is that smaller players are being bid up in anticipation that the biggies will be gobbling up the smaller players to meet their capacity expansion buildouts that they have announced.
Why Rajat Sharma prefers these 3 sectors to banks now
Keep an eye on fertilisers, gaming, and NBFC stocks more than banking, says Rajat Sharma of Sana Securities because in the GST meeting, the talk has been to do away with the middle GST slab and either have a 5% or an 18% slab or at least reduce some taxation.
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Job creation is India's top economic challenge, policy experts say
According to a poll of policy experts by Reuters, tackling India's chronic joblessness will be the biggest challenge for the government over the next five years, despite the country's status as the world's fastest-growing major economy. The economy grew more than 8% last fiscal year, but this growth has not translated into sufficient job creation, particularly for young people. The recent parliamentary elections saw Prime Minister Narendra Modi's BJP losing its majority, partly due to issues such as widening inequality, inflation pressure, and a lack of well-paying jobs.
Water crisis in Delhi sponsored by BJP, alleges AAP's Sanjay Singh
AAP Rajya Sabha MP Sanjay Singh accused the BJP of deliberately creating a water crisis in Delhi to keep residents thirsty, claiming it was a conspiracy by the ruling party. Singh alleged Haryana, controlled by BJP, was withholding water supply to Delhi, leading to shortages. He criticized BJP leaders and the LG for exacerbating the crisis and urged for accountability from top BJP officials.
Dental appointments in Costa del Sol are cheaper than private clinics in the UK. Here is the reason
A women realised that travelling to Costa del Sol in Spain for a dental appointment is a lot cheaper than spending on a private clinic in the UK. This cost is cheaper including the appointment charges, flight tickets and an overnight stay. People are finding creative solutions to tackle the challenges of getting timely appointment at the NHS.
Is it a good time to buy travel related stocks? Daljeet Singh Kohli answers
But to assume or extrapolate that this similar kind of execution and similar kind of order book will stay for next three-five years which the stock prices are saying, I think that will be too much of expectation.
Blackstone may sell up to 15% stake in IT major Mphasis for Rs 6,697 crore
Blackstone may sell up to 15% stake in IT major Mphasis for Rs 6,697 crore through a block deal. Blackstone holds 55.45% in Mphasis. Mphasis specializes in cloud and digital solutions.
No strings attached support to NDA, but we expect help for Andhra's development: Nara Lokesh
Telugu Desam Party extends unconditional support to NDA, seeking Centre's backing for Andhra Pradesh's development as an electronics manufacturing hub, automotive cluster, and port-rich coastline. N Chandrababu Naidu's son Nara Lokesh emphasises on private investment attraction, government decisions, and winning Mangalgiri for the first time since 1985. TDP seeks Centre's support for commitments made during Andhra Pradesh's bifurcation, without demanding special status.
Lok Sabha results won't force India's budget to make significant policy shifts: Fitch
Fitch Ratings anticipates minimal policy shifts in India post-election losses. The upcoming July budget will detail economic reform plans and fiscal goals for the next five years, crucial for addressing fiscal metrics, reducing debt, potential deviations from capital expenditure commitments, the risk of heightened social spending, progress in judicial reforms at the state level, and reforms in the manufacturing sector.
There can be both time wise and value wise correction in PSU stocks: Sandip Sabharwal
Consumer stocks are under-owned at this point of time. They have not given any returns for the last four-five years, leave aside something like a Godrej Consumer or a Tata Consumer which have been outliers and some stocks like Titan and all which have their own dynamics.
Coalition politics, weakened mandate could make passing legislations on ambitious reforms challenging: Fitch
Fitch Ratings predicts that the new government in India, led by Narendra Modi, will face challenges in passing legislation on ambitious reforms due to coalition politics and a weakened mandate. Major reforms to land and labour laws will remain on the agenda, but these have been contentious and the NDA's weaker mandate could complicate their passage further. The BJP fell short of a single-party majority in the 543-seat lower house of parliament for the first time since its latest period in government in 2014.
Any further correction in India can spur FII flows: Chris Wood
A lot of the recovery has been the high end of the market. So, the key issue for this real estate market right now is that will the recovery broaden out and the other issue is will there be policy measures to promote the more affordable end of the housing market, that seems to me a possibility.
US dollar gains after stronger-than-expected services sector data
The Institute for Supply Management said its nonmanufacturing purchasing managers index rose to 53.8 last month from 49.4 in April. May's reading, the highest since August, overshot estimates of all 59 economists in a Reuters poll that had pegged the median expectation at 50.8.
Surprised by today's market rebound; expect near term caution in capex-led themes: Chris Wood
I think it is a bit premature to assume that because you have still got the horse trading. I mean, clearly the base case is that the current government remains in power with coalition partners and that is not a disaster. But the reality is the great virtue of the last 10 years has been clear government, consistent policies, and not having to worry about horse trading between parties, which is always a feature of coalition governments.
Will be worried only if Nifty goes below 21,000: Atul Suri
Even on Friday, if you look at it, the market was pretty okay, pretty sideways. In fact, it had three to four days of correction. It is on Monday that exit poll data really led to a massive amount of short covering and a lot of people got in expecting a run out or a blowout rally and it is on the back of that that you really have this kind of price action. I think at the end of the day, the government continues.
Consumer stocks have edge over capex-linked ones after shock poll verdict
Indian consumer-focussed companies are likely to shine, while capital spending-linked firms could suffer as the government shifts its policy focus to support lower-income segments, fund managers and analysts said on Wednesday, a day after a surprise result in the national elections.
What should investors do with their portfolios now? Samir Arora answers
But the same government also on the margin may change a little, little bit as feedback from the fact that their results are disappointing. But beyond a little bit here or there, what exactly will change and also at the index level, instead of stock A, stock B will do well, that is how life is.
BJP-led NDA's narrow majority shifts focus to rural spending and increased private investments
The recent election results in India saw the ruling BJP-led NDA secure a majority, though narrower than expected. A Bernstein report predicts increased focus on direct social schemes, especially in rural areas. Private sector investments are expected to drive the capex cycle, with implications for economic growth and market dynamics. Market volatility is anticipated due to policy uncertainty, while financials remain a key sector.
Investors should start looking at value stocks with long-term perspective: Porinju Veliyath
We all were knowing, discussing in the last many-many months, we can just feel now it has come, whatever is the reason, so that correction is happening and I think it will be a healthy correction.
Dalal St is likely pricing in a Modi 3.0 but election winners already have a bitter household burden
India's stock market hit an all-time high last week, as investors anticipate a third term for Prime Minister Narendra Modi will boost corporate profits. However, consumer debt poses a significant risk. Slow wage growth, high interest rates, and heavy borrowing have strained spending for over 300 million families. Despite this, investors expect post-election growth in private capital expenditure and infrastructure projects
View: Raise a glass to the job creators
In a recent interview, Narendra Modi emphasized the importance of supporting businesses and avoiding demonization. The Prime Minister's stance received positive feedback, contrasting with past socialist inclinations.
Hydrogen-powered private jets can cut emissions — If they can get off the ground
A 2021 report found that some private jets emit two tons of CO2 per hour — at least five times more pollution per passenger than commercial flights. That’s 50 times worse than trains.
Andhra Pradesh Lok Sabha Elections: Visakhapatnam to witness a 3-corner contest
Ruling Yuvajana Sramika Rythu Congress Party (YSRCP's) candidate Botsa Jhansi Lakshmi faces a tough battle in Visakhapatnam against Telugu Desam Party's Sri Bharat and Congress's P Sathyanarayana Reddy. Botsa Lakshmi is the wife of the State Education Minister and YSRCP senior leader, Botsa Satyanarayana.
Contracts awarding work to private parties should not be cancelled without assigning reasons: SC
Supreme Court has stressed the importance of providing reasons before canceling contracts, considering the investments and expectations of private parties.
Removal of Arvind Kejriwal's private secretary will pave way for probe into excise policy scam: BJP
Delhi Chief Minister Arvind Kejriwal's private secretary, Bibhav Kumar, was removed by the Vigilance Directorate over alleged violations in his appointment, paving the way for a probe into an excise policy scam. The BJP sees this as an administrative move to ensure an impartial investigation, citing Kumar's appointment as "illegal." The AAP has not responded yet. Kumar's removal has raised questions about the AAP's anti-corruption stance. The Vigilance Directorate's order cited violations in Kumar's appointment and a pending criminal case against him.
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