Page 2 - Morgan Stanley

Rupee skids 48 paise as corporates, oil firms rush to buy dollars

Domestic unit has shed over 9% versus the greenback so far in 2022; latest weakness came despite softer dollar index and strength in Asian currencies, led by a firm Chinese yuan

S&P withdraws Twitter's credit rating due to lack of sufficient information

Twitter's massive about $13 billion debt load was funded directly by banks led by Morgan Stanley when Musk's $44 billion acquisition of the social media giant closed

Softbank halves stake in Policy Bazaar parent, mops up Rs 1,043 crore

Sells 22.84 million shares, or 5.08% stake, at Rs 456.4 apiece; 30 institutional investors among buyers

Stock performance remains polarized even as Sensex, Nifty scale new highs

Morgan Stanley remain bullish on consumer discretionary, industrials, financials, and technology; and remain underweight all other sectors

Budget 2023-24: 'Realistic' 10-11% nominal growth target on the table

Finance ministry expects moderation in retail inflation in FY24

Crude oil prices can rise up to $110 a barrel in 2023, say analysts

Brent crude oil prices have slipped nearly 15 per cent in the last few weeks, from a peak of around $98 a barrel to a little over $83 a barrel now despite OPEC+ cutting supply

Caveat emptor

Investors need to be cautious and look beyond market highs

Foxconn offers up to $1,800 bonus to workers to stay in China's iPhone city

Foxconn, also known as Hon Hai Precision Industry Co., will top up wages by as much as 13,000 yuan per month in December and January for full-time workers

Removal of cap: Insurers to get flexibility to allocate commissions

According to Irdai, the revised draft regulations on commissions emphasise on the board's oversight through a board-approved policy on the payment of commission

Forex below $500 bn would force RBI to hike aggressively: Morgan Stanley

RBI has used close to $100 bn of FX reserves since late 2021 to defend the currency. Such action makes sense as it had been accumulating FX reserves before that and it wants INR stability

Year 2023 will be year of disinflation in Asia: Morgan Stanley report

The year 2023 will be the year of disinflation (inflation at slow rate) in Asia, said Morgan Stanley in a research report.

Morgan Stanley plans fresh round of layoffs globally in coming weeks

Some cuts will come from capital markets teams in Hong Kong and mainland China, and most of the rest are expected to be from other teams focusing on China business, both onshore and offshore

Amid heavy sell-off, FPIs dump 30 mn Paytm shares in less than a year

The retail shareholding has increased to 6.37% at the end of September, as compared to 2.79% at the time of listing

India has conditions in place for an economic boom: Morgan Stanley

'We estimate that manufacturing's share of GDP will rise to 21 per cent by 2031, implying an incremental $1 trillion manufacturing opportunity'

Credit Suisse hires 20 banks for $4 bn capital increase to restructure

Credit Suisse Group AG hired about 20 banks to help with a $4 billion capital increase that will help fund the extensive restructuring unveiled last week

MSCI sets aside Piramal Pharma's exclusion from global standard index

The company was listed separately on October 19, following its demerger from Piramal Enterprises

In call with bankers, Musk pledges to close Twitter deal by Friday

Elon Musk pledged to close the acquisition of Twitter Inc. by Friday in a video conference call with bankers helping fund the deal

Samvat 2078: A year of India's stock market outperformance to global peers

During the year, India's dematerialised account tally topped 100 million for the first time

Invesco sells 5.5% stake in Zee for Rs 1,396 cr at Rs 263.7 a share

Morgan Stanley, Citigroup, Bank of America, Abvendus, ICICI Prudential MF were some of the buyers

Rural demand in India to rebound due to multiple factors: Morgan Stanley

A combination of factors like wider opening, improving labour market and terms of trade for the rural sector will result in rural demand to rebound in India, said Morgan Stanley on Wednesday