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Prioritising India-UK ties, FTA in focus under new PM Keir Starmer
The India-UK FTA talks began in January 2022 but were stalled in the 14th round as both countries stepped into their general election cycles this year. India saw the new government in the first week and on Friday, it was the UK's. "There is no question in my mind that India will continue to be important for the new Labour government," said Rahul Roy-Chaudhury, Senior Fellow at the International Institute for Strategic Studies (IISS).
India-UK FTA: Dynamics set to change after Starmer-led Labour Party's election victory?
India-UK FTA: Keir Starmer's Labour Party is poised to end the 14-year Conservative Party rule in the UK, with Starmer set to become the next Prime Minister. The change in government is expected to have minimal impact on India-UK relations, particularly concerning the Free Trade Agreement (FTA). Starmer's manifesto pledges to pursue a "new strategic partnership" with India, focusing on finalizing the FTA, marking a departure from previous Labour Party stances. Despite the anticipated shift, the specific timelines for concluding the FTA remain uncertain.
Sebi approves stricter norms for inclusion of individual stocks for derivative trading
The criteria for exit would apply to only those stocks which have completed at least six months from the month of entry into the derivative segment. while for existing stocks in the derivatives segment, the exit criteria on the basis of performance would be applicable three months after the date of issuance of circular, Sebi said.
Sebi warns of rising risks from derivative trading frenzy
India's market regulator on Thursday warned of rising risks from a surge in derivative trading volumes, with small investors jumping in to trade risky options contracts.
Foxconn employment row: Trade unions gather info on recruitment exercise at Tamil Nadu plant
The Union Ministry of Labour and Employment has sought a detailed report from the Tamil Nadu labour department after reports suggested that Foxconn was not hiring married women at the sprawling facility near here. An official of a manpower agency in Sriperumbudur said Foxconn India outsources employees through agencies and claimed that he did not come across any such incident of married women not getting preferred for recruitment.
US stocks struggle for direction as investors evaluate tech trade
Financial markets experience shifts as key tech and retail companies show varied performance. Wall Street awaits crucial inflation data. Analysts predict possible sector rotation based on earnings and inflation trends.
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Get-rich-quick trades suddenly reverse as Nvidia, Bitcoin slump
Investors face volatility as Bitcoin and Nvidia suffer losses, emphasizing the need for market diversification beyond technology.
"It's all happening again": The supply chain is under strain
The intensifying upheaval in shipping is prompting carriers to lift rates while raising the specter of waterborne gridlock that could again threaten retailers with product shortages during the make-or-break holiday shopping season. The disruption could also exacerbate inflation, a source of economic anxiety animating the U.S. presidential election.
After Taiwan and trade war, US turns spotlight on China's control of Tibet
Tibet-China Bill: US-China relations are set to face heightened complexity as Tibet becomes a new focal point of contention. Recently, US lawmakers passed a bill challenging Beijing's historical claims over Tibet and advocating for peaceful dialogue between the Chinese Communist Party and the Dalai Lama to resolve the longstanding dispute.
PSU stocks expected to trade sideways for next six months: Digant Haria
We do not have the view that this government will go into a lot of freebies because if freebies was the only thing, then BJP should not have won Odisha and then Jagan should not have lost Andhra Pradesh or Chandrababu Naidu should not have been able to win Andhra Pradesh because the maximum freebies were given in that state and minimum freebies were given in Odisha which is even poorer state than Uttar Pradesh in terms of per capita.
Stock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 35%
In the first trading session post the formation of the new government, it is bulls which can be seen on the street and bears after their one day adventure are sitting on side. If one looks at the composition of the Nifty and sensex, they can be impacted by movement in one or two sectors and that is probably the reason why it is important to de-link with what is happening in nifty and broader market indices. Given the way indices and broader markets have panned out, it is very likely that we are going to soon see the market hitting new highs. But will your portfolio value hit a new high is something which needs to be watched. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.
NYSE glitch sparks volatility in dozens of stocks
A glitch at the NYSE caused major swings in Berkshire Hathaway and Barrick Gold shares, leading to trading halts in multiple companies. The issue was resolved, with impacted stocks resuming trading after a technical problem was fixed.
Stock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 39%
Just before the start of the final phase of the general elections 2024 was to take place, there was a clear indication that it is bulls who are in control of the market. There are no two opinions, that a continuity in policy making will make the markets move upward very sharply. A glimpse of that will come in Monday’s trading session, when the impact of the exit poll result gets played out. So, with the base case assumption that the policy making will continue, we take things forward but continue with our principle stand that If one is taking fresh exposure to equity, ensure that there is some level of quality as far as the business and fundamentals are concerned.These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.
Stocks in news: Apollo Hospitals, Muthoot Finance, Tata Steel, Kfin Tech, RR Kabel
Tata Steel Ltd on Wednesday reported 64% fall in its consolidated net profit at Rs 611 crore for the fourth quarter, compared with Rs 1,705 crore in the same quarter a year earlier.
General Atlantic Singapore likely to sell up to 6.8% stake in KFin Technologies for Rs 833 crore via block deal: Report
General Atlantic is a part of the promoter group which holds a stake in KFin Technologies. In December, General Atlantic had sold a nearly 10% stake in KFin or 1,70,00,000 shares of the company at Rs 500.25 apiece. It made a profit of Rs 851 crore.
Inox Wind shares dip 18% in last 2 days. What’s wrong?
Following the sale of a 5% stake by the promoter entity, shares of the high-performing stock Inox Wind experienced an 18% decline over the last two days, reaching the day's low of Rs 134 on the BSE on Wednesday.
Progressives forget their free-trade heritage at own peril
US President Joe Biden has not only kept in place Donald Trump’s tariffs but brought into existence subsidies and incentives worth trillions of dollars.
"Right case for President's Rule...": Jairam Ramesh on Haryana political crisis
Amid the political crisis in Haryana, Congress General Secretary in-charge Communications, Jairam Ramesh on Friday asserted that the Haryana Government has "lost its majority" adding that it is the "right case" for the President's Rule.
Cryptocurrency Price on May 8: Bitcoin slips below $62,500; Solana, Dogecoin fall decline over 4%
In Wednesday's trading session, the cryptocurrency market experienced a downturn, led by prominent coins like Bitcoin, Ethereum, Solana, and Dogecoin. The global cryptocurrency market cap decreased by 1.8%, reaching around $2.3 trillion within 24 hours.
India allows export of non-Basmati white rice to Mauritius
The exports of rice to Mauritius are permitted through National Cooperative Exports Limited, the Directorate General of Foreign Trade said in its notification.
War and trade: As Iran-Israel conflict intensifies, India’s trade vulnerability rises
The Israel-Hamas conflict had already inflated freight cost from $1,000 to $6,000. Now with Iran directly entering the conflict, India’s MSME sector is staring at an economic bloodbath as freight costs are likely to rise to $9,000-12,000, say small traders.
Factories around the world are slowly cranking into gear again
The nascent industrial recovery is led by the world’s two biggest economies. Chinese manufacturing has made a strong start to the year, boosting the economic outlook, and US factory activity unexpectedly expanded last month for the first time since September 2022, buoyed by rising new orders and a jump in production.
JD(U) MLA lodges FIR against party colleague over horse trading
The case was lodged at Kotwali police station here by Sudhanshu Shekhar, who represents the Harlakhi seat of Madhubani district, said Krishna Murari Prasad, Deputy Superintendent of Police (Law and Order), Patna.
Sterling & Wilson announces launch of QIP, sets issue floor price at Rs 365.02/share
Sterling & Wilson shares are currently trading above their 50-day and 200-day simple moving averages (SMAs). After Monday’s rally, the stock now trades in a strongly overbought zone as suggested by Trendlyne. The day’s RSI and MFI are at 81.2 and 92.3, respectively.
India taking the Dragon head on & dimming lights of China, the world's factory floor
China+1: India's rise in global manufacturing challenges China's dominance. From 'Make in India' to 'Make for the World,' Narendra Modi's vision fuels India's rejection of Chinese influence and the Asian nations is becoming a great candidate for China+1 strategy. As India gains ground, China's decline signals a shift in global supply chains. However, India grapples with policy gaps in its industrial strategy
Govt cuts floor price of basmati exports to USD 950 per tonne
n a communication to export promotion body APEDA, the Union Commerce Ministry has said "it has been decided to revise the price limit for registration of contract for export of basmati rice from USD 1,200 per tonne to USD 950 per tonne." The government on August 27 decided not to allow exports of basmati rice below USD 1,200 per tonne to restrict possible "illegal" shipment of white non-basmati rice in the garb of premium basmati rice.
Govt to sell up to 7% stake in HUDCO via OFS; floor price fixed at Rs 79/share
The offer price is at a 12% discount to the current market price. Under the OFS, the government will offload 7 crore equity shares, representing about 3.5% of equity with an oversubscription option of another 3.5%.
Shreyas Shipping & Logistics Delisting: Discovered price at Rs 890 vs floor price of Rs 292
The company received 2,245 successful bids between the price range from Rs 292 and Rs 2,920 per equity share for a total of 4,306,743 equity shares. The number of bids received by Shreyas Shipping above the discovered price stood at 196 for 233,668 equity shares.
Basmati export floor price may be lowered to counter Pakistan move
India will lower the basmati floor price to $850 a metric ton, down from $1,200 a ton, to help millers and traders ship out the rice grade, said the sources, who didn't wish to be identified as they are not authorised to talk to media. Last month, India fixed the floor price, or the minimum export price (MEP), for basmati rice shipments at $1,200 a metric ton.
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