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251 stories mentioning Nifty 50Updated 1d ago

India's benchmark in focus as May data showed goods and services exports up 15.8% and imports up 19% year over year.

Asia

Market Chatter: Coca-Cola Ropes in JPMorgan, Citi as Bankers for Indian Bottling Unit's IPO

Beverage giant Coca-Cola has appointed JPMorgan and Citi as bankers for the proposed initial public ​offering of its Indian bottling unit, Hindustan Coca-Cola Holdings, in 2027, Reuters reported Monday, citing people with direct knowledge of the matter.Coca-Cola disclosed in June that it was exploring a 2027 public listing for the Indian bottling unit alongside the potential sale of a portion of its stake.Bankers had made their pitch to Coca-Cola for the IPO mandate in London earlier this month, after which JPMorgan and Citi were appointed, Reuters said. Kotak and Morgan Stanley have already been appointed as bankers on ​the IPO, said one of the sources cited in the report.The investment banks and Coca-Cola did not immediately respond to' request for a comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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International

RBI's Special Swap Facility Raises $20.7 Billion as of Mid-July

The Reserve Bank of India's special swap facility attracted $20.7 billion in total foreign currency inflows as of July 17, according to data released by the central bank on Monday.A majority of the funds, amounting to $17.4 billion, came via Foreign Currency Non-Resident (Bank), or FCNR(B), deposits. The central bank's terms allowed lenders to offer elevated yields on non-resident Indian foreign currency accounts.Companies have also raised $1.34 billion through external commercial borrowings (ECB), while overseas foreign currency borrowings (OFCB) brought in another $1.97 billion, the RBI said.Unveiled on June 5 and operationalized on June 8, the special swap window was designed to reinforce India's external capital buffer and support the rupee.The RBI noted that the concessional swap facility for FCNR(B) deposits will remain open through Sept. 30, while the window for OFCBs and ECBs will continue through Dec. 31.

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International

India's Core Industries Grow 5% in June

India's combined Index of Core Industries (ICI) provisionally grew by 5% year over year in June, according to data released Monday.The Department for Promotion of Industry and Internal Trade released the revised series of ICI with base year 2022 to 2023, which will now include iron ore to have nine industries, to replace the existing series of ICI with base year 2011 to 2012.Iron ore, electricity, cement, steel, and coal saw a growth rate of 43.9%, 9.8%, 9.8%, 4.6%, and 1.4%, respectively, year over year.On the other hand, natural gas, crude oil, refinery products, and fertilizers saw negative growth in the month.

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International

Asia Week Ahead: Bank Indonesia Decision, Japan Inflation, Korea GDP

Several key economic releases are due across Asia this week, including central bank decisions, inflation data, gross domestic product figures and flash purchasing managers' index reports.The week begins with China's benchmark lending rates on Monday, followed by Taiwan's June export orders on Tuesday.Indonesia's central bank will announce its interest rate decision on Wednesday. On Thursday, South Korea will report second-quarter gross domestic product, and Singapore will publish June inflation figures.The week wraps up with July flash PMI data from India and Japan on Friday. Japan will also release inflation numbers.Here's what to watch in the week ahead.MONDAY, July 20The People's Bank of China left its benchmark lending rates unchanged for the 14th consecutive month, matching the consensus forecast tracked by Investing.com.The one-year loan prime rate, which serves as the benchmark for most corporate and household loans, was held at 3%. Meanwhile, the five-year LPR, the reference rate for residential mortgages, was maintained at 3.5%.Elsewhere, Malaysia's trade surplus narrowed to 14.9 billion ringgit in June from 39.9 billion ringgit in May.Total exports grew 45.4% year over year to 177.9 billion ringgit, while imports rose 43.9% to a record 163 billion ringgit.India's infrastructure output for June is also expected later today.TUESDAY, July 21Taiwan will report June export orders, with ING economists forecasting a 43.9% increase, slower than the 47.2% rise in May.WEDNESDAY, July 22Bank Indonesia is expected to hike rates by 25 basis points to 6%, according to a forecast by ING, adding that the increase underscores the central bank's commitment to foreign exchange stability by attracting foreign inflows and stabilizing the local currency.The hike is anticipated to be the last of the cycle, according to DBS economists.South Korea's producer prices are forecast to have risen 8.2% year over year in June, slowing from 8.5% in the previous month, according to Trading Economics.Elsewhere, Japan may see a trade deficit of 120 billion yen in June, narrowing from the 378.7 billion yen recorded in May, according to consensus estimates.Exports and imports are expected to climb 18.6% and 21% year over year, respectively.THURSDAY, July 23South Korea will release its Q2 GDP. ING said the economy likely grew 4.2% year over year in the April to June period, up from 3.8% in the first quarter, driven by positive net exports.Singapore will publish inflation data for June, with ING economists forecasting core inflation at 1.7%, and Trading Economics at 1.6%. This compares to 1.4% in May.FRIDAY, July 24Japan will release inflation figures for June. Trading Economics expects the nation's core consumer price index, which excludes volatile fresh food prices, to be 1.5%, slightly higher than May's 1.4%.Flash PMI reports for Japan and India are also due on Friday.Lastly, Singapore will post industrial production numbers, with Trading Economics forecasting a 9% year-over-year boost in June, slowing from May's 13% growth.

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Asia

Market Chatter: Manipal Health May Reduce Valuation to INR800 Billion for Planned IPO

Manipal Health Enterprises, which operates the Manipal Hospitals chain, is said to be looking at a lower valuation of around 800 billion Indian rupees for its proposed initial public offering, Bloomberg reported on Friday, citing sources.The healthcare services company aims to raise up to 110 billion rupees through its IPO, which is expected to be launched in the week starting July 27.The targeted valuation for the share sale is below the $10 billion to $12 billion marketed range floated in April, sources told Bloomberg.Manipal Hospitals did not immediately respond to MT Newswire's request for a comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: Tata Electronics to Start Chip Production With Older Technology

Tata Electronics is preparing to begin semiconductor wafer production in India using an older manufacturing process than originally planned, Bloomberg News reported Friday, citing people familiar with the matter.Tata Group's technology unit plans to produce chips primarily using 90-nanometer process technology at its upcoming fabrication plant in Dholera, Gujarat, the report said. The facility is reportedly expected to be India's first large-scale semiconductor fabrication plant.The project is being developed in partnership with Taiwan's Powerchip Semiconductor Manufacturing (TPE:6770), according to the report.Tata Electronics did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: More Than 100 Firms Eye Treasury Operations in India's GIFT City

More than 100 companies have engaged with JPMorgan Chase over the past year to explore banking and payment services for corporate treasury operations in India's Gujarat International Finance Tec-City (GIFT City), Bloomberg News reported Friday.The companies are expected to establish treasury centers in GIFT City over the next 12 to 18 months, the report quoted Guhaprasath Rajagopal, managing director and head of payments at JPMorgan India, as saying.Prospective clients include multinational corporations, as well as insurance companies and fintech firms, according to the report.GIFT City, an initiative of Indian Prime Minister Narendra Modi aimed at developing a global financial hub, had more than $100 billion in banking assets as of September 2025, double the level two years earlier, Bloomberg said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: India Seeks Local Alternatives for $51 Billion of Critical Imports

India is identifying about $51 billion of imports for potential domestic production as the government seeks to reduce reliance on overseas suppliers, Reuters reported on Wednesday, citing government sources.A government review reportedly found that goods worth about $398 billion out of India's total imports in the 12 months ended March 2026 could potentially be replaced through local manufacturing, with the $51 billion subset considered critical for domestic industries.The initiative will initially focus on about 100 items across sectors including textiles, footwear, electric vehicles and solar panels, Reuters noted.Indian government did not immediately respond to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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International

India Hikes Taxes on Diesel, Jet Fuel Exports

India has raised export duties on diesel and aviation turbine fuel while cutting the levy on petrol, public broadcaster Akashvani reported on Thursday, citing a Finance Ministry notification.The government increased the export duty on diesel to 15.5 Indian rupees per litre from 8.5 rupees per litre and on aviation turbine fuel to 14.5 rupees per litre from 7.5 rupees per litre.The export duty on petrol was reduced to 2.5 rupees per litre from 4 rupees per litre.The revised rates took effect on Thursday. There was no change to excise duties on petrol and diesel sold in the domestic market.

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International

India Books $4.4 Billion Balance of Payments Deficit in May

India's overall balance of payments recorded a deficit of $4.4 billion in May, swinging from a surplus of $4.4 billion in the same month last year, the Reserve Bank of India said in a Wednesday release.This marked the second straight month that the country booked a deficit.India's current account balance also swung to a deficit of $2 billion in the month from a surplus of $700 million a year earlier.Net merchandise trade deficit widened to $27.9 billion in May from $22.6 billion a year earlier. The figure was unchanged from a month earlier.Net services surplus edged down to $15.7 billion from $15.8 billion a year prior and from $18.6 billion in April.

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Asia

Market Chatter: India Allocates INR1.9 Trillion for Chip, Smartphone Production

India approved state aid worth 1.28 trillion rupees for semiconductor production and 625 billion rupees for smartphones, Bloomberg reported Wednesday citing Technology Minister Ashwini Vaishnaw.The approval came from Prime Minister Narendra Modi's cabinet on Wednesday in a bid to boost chip and smartphone output, Vaishnaw said while speaking to reporters in New Delhi.The aid will expedite activities in the chip design, machine fabrication, R&D, and talent creation niches, Bloomberg said, citing Vaishnaw.The creation of an Indian mobile brand is also a goal set out by Modi, Vaishnaw added.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: India's Udaan in Talks for $45 Million Financing from BlackRock

Udaan is in discussions with BlackRock Inc. for $45 million in private credit as part of the Indian e-commerce company's proposed $160 million financing round, Bloomberg reported Wednesday, citing people familiar with the matter.The NYSE-listed investment company's private credit arm has received internal approval to participate in the deal, according to the report, citing the sources.Udaan announced the financing package on Tuesday, saying a new investor would provide $45 million in fresh capital but did not disclose the investor's identity.Udaan and BlackRock did not immediately respond to' requests for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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International

India's Unemployment Rate Unchanged at 5.5% in June

India's official unemployment rate remained unchanged month over month at 5.5% in June, according to the monthly Periodic Labour Force Survey (PLFS) bulletin released by the Ministry of Statistics and Programme Implementation (MoSPI) on Wednesday.Urban unemployment rose to 6.6% from 6.4% in the prior month, while rural joblessness stood at 5%, versus 5.1% in May.The Labour Force Participation Rate was unchanged at 54.4% in June from the last month, while the Worker Population Ratio also remained stable at 51.4%.

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Asia

Market Chatter: Tata Group Eyes INR100 Billion Shipbuilding Investment in Kerala

The Tata Group is looking to make a 100 billion rupee investment in shipbuilding in Kerala, Bloomberg reported Wednesday citing V.D. Satheesan, chief minister of the state.The company's request for government approval for the investment is under review and go-ahead is expected to be granted within a month, Satheesan said during an interview.The state government is expected to provide the land for the project, Bloomberg said, citing the chief minister.The Tata Group did not immediately respond to' request for a comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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International

India's Wholesale Inflation Quickens to 9.87% in June

India's annual wholesale price index (WPI)-based inflation rate rose to 9.87% year over year in June, according to data from the Ministry of Commerce and Industry released Tuesday.The reading was higher than the consensus forecast of 9.15% tracked by Investing.com and compared with the 9.68% pace recorded in the prior month.The latest print marked the highest since September 2022.

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Asia

India's Competition Regulator Fines HP India INR1.3 billion for Cartel Practices

The Competition Commission of India imposed a penalty of 1.27 billion rupees on HP India and a combined penalty of 12.2 million rupees on five resellers for cartelization in the sale and supply of personal system products, according to a Monday press release.The antitrust regulator found that HP India dictated bid prices to resellers and manipulated participation in Government e-Marketplace (GeM) tenders by withholding authorizations to benefit itself.Five resellers, Delphi Infosolutions, Digitech Computers, Orbit Techsol, Hind Technocare, and Krishna Computers, were found to have colluded with HP India in the anti-competitive conduct.

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International

India's Goods, Services Imports Rise Around 27% in June

India's total imports of goods and services increased 26.9% year over year to an estimated $88.8 billion in June, according to data released by the Ministry of Commerce and Industry on Monday.Of the total, merchandise imports rose to $70.8 billion in June from $54.1 billion a year earlier, while services imports increased to $17.9 billion from $15.9 billion.Total exports in the reporting month rose 9.5% year on year to an estimated $73.5 billion, resulting in an increase in trade deficit to $15.3 billion from $2.9 billion.

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International

India's Retail Inflation Accelerates to 4.38% in June

India's annual retail inflation accelerated to 4.38% in June, according to data from the Ministry of Statistics and Programme Implementation (MoSPI) released on Monday.The reading was higher than the consensus forecast of 4.3% tracked by Investing.com, and compared with the 3.93% pace recorded in the previous month.Food inflation, measured by the Consumer Food Price Index, rose to 5.32% from 4.78% the prior month, while housing inflation edged down to 2.1%.

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International

Asia Week Ahead: China's Q2 GDP, BOK Decision, India Inflation

China's economic data will take center stage this week, with investors closely watching second-quarter GDP and June activity data for fresh clues on the health of the world's second-largest economy as it enters the second half of the year.Singapore and Malaysia will also release their second-quarter GDP estimates, offering a broader snapshot of regional growth.Inflation will remain in focus as India and Malaysia publish consumer and wholesale price data, providing further insight into price pressures.Markets will also be watching the Bank of Korea's latest monetary policy decision.Here's what to watch in the week ahead.MONDAY, July 13India will report June inflation numbers later today. Following a 3.93% reading in May, Trading Economics is expecting a slight uptick to 4.0%.TUESDAY, July 14Singapore will publish its advance Q2 GDP estimate. Goldman Sachs expects the economy to grow 5.2% year over year in the April-to-June period, slowing from 6.0% in the first quarter.Meanwhile, China's June trade figures will be closely watched as tensions between Beijing and the European Union over rising Chinese exports intensify.ING economists forecast export growth of about 17.5% YoY and import growth of 24.0%, resulting in a trade surplus of $120.1 billion.India will release its June wholesale price index, a key gauge of wholesale inflation. The data is being followed for insights into production-level cost pressures that could influence policy decisions.WEDNESDAY, July 15China's economy likely grew 4.5% YoY in the second quarter, slowing from the 5.0% expansion in Q1, according to a Wall Street Journal poll of economists.ANZ Research attributed the slowdown to a reduced number of working days due to extended spring holidays in April and May. Slower fiscal spending likely also weighed on growth as Beijing sought to preserve its fiscal buffer amid geopolitical uncertainty and energy-price shocks, ANZ said.The same WSJ poll forecasts China's retail sales contracted 0.1% in June, an improvement from the 0.6% decline recorded in May.Industrial production likely rose 4.7% in June, up from 4.5% in May, according to ING estimates. Meanwhile, fixed-asset investment is expected to have contracted 5.2% in the first half, widening from the 4.1% decline in the January-to-May period.Meanwhile, Japan will report its May machinery orders, while Reuters will publish the Tankan Index, a key survey of Japanese business sentiment.Elsewhere in the region, South Korea will release export prices and unemployment data.India's June trade data and unemployment rate are also due on Wednesday.THURSDAY, July 16The Bank of Korea (BOK) will hold its rate-setting meeting on Thursday after Governor Shin Hyun Song repeatedly signaled the need for tighter monetary policy.Bank of America analysts expect the BOK to raise its base rate by 25 basis points, citing elevated inflation concerns and foreign exchange stability risks."Against this backdrop, policymakers are likely to place greater emphasis on exchange-rate stability and its implications for inflation and financial conditions," BofA said in a note.FRIDAY, July 17Singapore will release its June non-oil domestic exports (NODX) data.DBS expects NODX growth to moderate to 25.0% year over year in June from 38.4% in May.Non-electronics exports likely eased due to an unfavorable comparison with the previous year, while electronics exports were likely supported by strong global demand for AI-related products, particularly memory chips and server equipment, DBS economists said.Meanwhile, Malaysia's inflation rate likely held steady at 2.0% in June, according to consensus estimates.Higher electricity tariffs and food prices were offset by lower transport costs as fuel prices declined, ANZ economists said, adding that inflation is expected to remain manageable and is unlikely to prompt Bank Negara Malaysia (BNM) to change its policy rate.On the GDP front, Malaysia's Q2 economic growth likely slowed from the 5.4% expansion recorded in the first quarter.BNM Governor Abdul Rasheed Ghaffour said high-frequency indicators point to some moderation in economic activity in the second quarter of 2026. He nevertheless said the economy continues to demonstrate resilience despite external uncertainties.Hong Kong's business confidence and employment data are also due for release on Friday.

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Asia

Market Chatter: Tata's Upcoming Semiconductor Plant in Assam to Get INR140.4 Billion Government Incentive

Indian conglomerate Tata Group's upcoming 270 billion Indian rupees semiconductor plant in Assam, India, will receive an incentive of 140.4 billion rupees from the state government, according to a report in The Economic Times on Thursday.In a written reply to a question in the State Assembly on Thursday, Industries, Commerce and Public Enterprises Minister Bimal Borah said the central government will provide around 102.6 billion rupees as an incentive to the Tata Electronics facility, the report said.The Assam state government has also sanctioned 37.9 billion rupees for the project, Borah said.The plant is estimated to generate a total employment of over 27,000, including 15,000 direct jobs.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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