August 23: “Optimism of taking out all-time highs this year has gone,” says Srinivas Rao Ravuri, Senior Fund Manager, HDFC Mutual Fund. He explains that market recovery is dependent on GDP growth and adds that he sees GDP growth rate to be sub 5% levels. “GDP growth of 2-3% will make conditions worse,” he adds.
August 23: David Lennox, Resource Analyst at Fat Prophets, says, “There have been some fundamental changes witnessed across demand for gold.” However, he adds barring any unprecedented changes in the quantitative easing (QE) by the US Federal Reserve, gold price will continue to be bullish.
August 23: Bloomberg TV India’s number of the day is 107%. The rally on crude since the US Federal Reserve started quantitative easing (QE) in 2008 has been around 107%. So where does it head from here? A Bloomberg survey indicates that prices are set to decline next week. To discuss the same, Bloomberg TV India speaks to David Lennox, Resource Analyst at Fat Prophets.
August 23: In what seems to be the first strategy letter post the Diageo takeover, Ashok Capoor, Chief Executive of USL, writes to employees. The letter, exclusively sourced by Bloomberg TV India, outlines USL's road map for the upcoming quarter and strategies going forward.
August 23: The NSEL fiasco continues! Two board members have resigned from the board of Financial Tech. Bloomberg TV India gets you more on the same.
August 23: Bloomberg TV India shifts its focus to the Bloomberg Rich List and sees how the falling rupee has affected India's richest man - Mukesh Ambani. The industrialist has lost more than a whopping $5.6 billion in the last three months. His current net worth stands at $17.5 billion.
August 23: Stating that the rupee is in an overshoot turf, K. Harihar, Head of Treasury, First Rand Bank, says, “Rupee at 65 per dollar would have been a very good level to sell.” He also adds that the Indian economy does not deserve the undervaluation that the rupee is showing currently.
August 23: “In the short term, there can be significant number of demand-supply mismatches in the currency market,” says Indranil Pan, Chief Economist, Kotak Mahindra Bank. Further, talking about bond yields, he adds, “In the near future, the 10-year bond yields will not settle above the 9% zone.”
August 23: K. Harihar, Head of Treasury, First Rand Bank says, “The government has to potentially look at the trade deficit in order to contain CAD”. However, he adds that while a boost in exports may be a positive, the dollars may not come in as quickly into the economy, as the exporters will have to be assured that rupee has hit its bottom.
Minority investors divided over changes at ICICI bank
Fund managers seek clarity on governance & leadership for investment decisions
Kochhar's fully paid leave raises questions
Proxy advisory firm raises questions on remuneration
Will issue 5.1% equity shares worth Rs 746 Cr to investors, priced at Rs 1,661/sh
IIFL's wealth management business valued at Rs 14,600 Cr
Investors include Amansa holdings, General Atlantic Singapore & HDFC Standard Life
Gets final USFDA approval for Generic Sustiva
U.S. Sales stood at approximately $105 Mn in a 12 month period, ending in April 2018
Nerolac to enter share purchase agreement with RAK paints in Bangladesh
Will acquire 55% paid up equity share capital in RAK paints for Rs 45.8 Cr
Acquisition to be complete by 31st July 2018
UPL consortium said to be in talks to buy platform's agri pesticide unit Arysta Lifescience
UPL to team up with Abu Dhabi investment authority for Arysta Lifescience
UPL group's talks for Arysta Lifescience unit said to be in advanced stages