HSBC
Hospital stocks’ growth outlook positive: HSBC
HSBC has given a 'buy' rating to Krishna Institute of Medical Sciences and Apollo Hospitals, while assigning a 'reduce' rating to Global Health and Narayana Hrudayalaya. The brokerage sees a positive growth outlook for the hospital sector due to rising demand for quality healthcare, with several hospitals planning significant bed additions in the coming years.
Biocon Biologics is planning to raise $950 million through overseas bonds
Biocon Biologics plans to raise $950 million through overseas bond sales to refinance a significant portion of its $1.2-billion debt from acquiring Viatris Inc.'s biosimilars business. The company has already prepaid $250 million and is exploring ways to reduce finance costs. The bond's rating will determine its pricing.
Satin Creditcare Network to raise $5 million in bonds with 11.32% all-inclusive cost
Satin Creditcare Network plans to raise $5 million through bonds at an all-inclusive cost of 11.32%. The bonds, maturing in 36 months, will be issued on September 25 with a coupon rate of 7.9% linked to SOFR. Interest is payable semi-annually. Last week, the company raised Rs 120 crore in a securitization deal with HSBC India.
Red Sea crisis produces winners and losers in Asia as freight rates spike
While shippers like Cosco Shipping Holdings benefit from higher freight rates, exporters such as Miniso Group face increased logistics costs.
Africa's biggest insurer eyes India wealth management as BlackRock, Jio join fray
“A large number of people are breaking out of the real poverty trap, so they’re able to start focusing on providing for the future,” Sanlam Chief Executive Officer Paul Hanratty said in an interview Thursday. “India is really at that point where a huge chunk of the population are now able to save and invest for the future.”
Ather Energy plans to file for Rs 4,000-crore IPO at $2 bn valuation
Ather Energy, backed by Hero MotoCorp, is targeting a valuation of $2-2.25 billion as it prepares for an IPO. The Bengaluru-based electric scooter maker aims to raise ₹3,500-4,000 crore through the offering. Funds will be used for capacity expansion. Ather follows Ola Electric's successful listing and is the fourth-largest electric two-wheeler maker in India by volume.
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Cybersecurity professionals limited, big challenge for future: SBI chief CS Setty
SBI Chairman CS Setty highlighted the limited supply of cybersecurity professionals as a significant challenge. Investments in cybersecurity are increasing, but professional support remains scarce. HSBC faces 1 lakh cyberattacks daily. Additionally, SBI is boosting marketing efforts amid slow deposit growth, while Standard Chartered Bank noted challenges in dollar bond issuances due to increased withholding tax.
Domestic demand drives services sector PMI to 5-month high in August
India's services sector activity reached a five-month high in August, driven by increased business activity and new work, despite a slowdown in employment growth. The HSBC India Services Business Activity Index rose to 60.9 from 60.3 in July. However, the outlook for the private sector has moderated due to competitive pressures.
Satin Creditcare Network raises Rs 120 cr in a securitization deal with HSBC India
The transaction was concluded with a coupon rate of 9.30%, the company said Wednesday. The deal involved issuance of pass-through certificates (PTC) for an exact amount of Rs 119.12 crore.
Bullish on equities in the short and long-term, in medium term, bonds make sense: Herald Van Der Linde, HSBC
Herald Van Der Linde from HSBC suggests investors remain positive on equities but avoid crowded trades. He highlights the potential of income-centric investments like bonds in the medium term. The global market outlook is influenced by AI trades and interest rate cuts, with India positioned well despite some stress points.
NFO Tracker: HSBC Mutual Fund launches India Export Opportunities Fund
HSBC India Export Opportunities Fund aims to generate long-term capital growth from an actively managed portfolio of equity and equity-related securities of companies engaged in or expected to benefit from export of goods or services. The scheme has the flexibility to invest in companies that are part of the exports theme across market capitalization – large cap, mid cap and small cap companies, according to a press release by the fund house.
India's services PMI surges to five-month peak in August on resilient demand, easing prices
India's services sector activity reached a five-month high in August, driven by strong domestic demand and easing inflation. The HSBC India Services PMI rose to 60.9 from 60.3 in July. Despite a decline in international demand growth, firms remain optimistic about future growth, with cost pressures rising at a slower pace.
Motilal Oswal mutual fund, 2 others invest in defence stock after 1,200% rally in 3 years
PTC Industries, a high-growth defence stock up 1,200% in three years, closed a Rs 700 crore QIP with investments from Motilal Oswal, HSBC, and Societe Generale. The QIP increased the company's equity capital to Rs 14.97 crore.
India's factory activity growth hits three-month low of 57.5, PMI shows
In August, India's manufacturing growth slowed to a three-month low due to a significant softening in demand. The HSBC India Manufacturing PMI dropped to 57.5 from July's 58.1. Although demand remained strong, international demand saw its weakest growth since January. Inflation concerns and competition affected business optimism.
Dua Lipa India concert: Zomato boss forced to share proof that he paid for his own ticket
Zomato CEO Deepinder Goyal bought his own ticket for the Zomato Feeding India Concert, which sold out in less than 24 hours. He shared his ticket on Twitter and thanked supporters for their role in fighting malnutrition. The concert, featuring Dua Lipa and set for November 30th in Mumbai, promises a memorable night of music. Goyal also highlighted Zomato's new ticket resale feature and expressed anticipation for the event.
HSBC ramps up funding corpus for tech startups to $600 million from $250 million
The funding commitment for tech startups started with a balance sheet allocation of $50 million in 2019 , which was subsequently increased to $250 million in 2022 and to $600 million now. Of the present $600 million corpus, 50% has already been allocated, senior executive Ajay Sharma said.
Ola Electric shares up 75% from IPO issue price. 3 reasons why HSBC is bullish
Ola Electric Mobility's shares rose 75% to Rs 133, catching investors off guard. HSBC set a target of Rs 140, highlighting sustained regulatory support and cost-cutting measures. The brokerage predicts lower EV manufacturing costs and successful battery production, making EVs more competitive against ICE scooters.
HSBC India pre-tax profit rises 4% in first half of 2024
Hong Kong and Shanghai Banking Corp saw a 4% increase in profit from its Indian operations during the first half of 2024, with earnings reaching $798 million. The global banking & markets division contributed $436 million, while the commercial banking sector brought in $224 million, both marking a 7% growth from the previous year.
HSBC India's profit up 7% to $798 million
HSBC's Indian operations' profit rose by 4% year on year, driven by 7% growth in global banking and commercial banking divisions. With India as its fourth-largest profit center, the bank's total loan book saw a 17% increase, reflecting stronger wholesale and personal loan segments during the six months ending June 2024.
Sebi penalises HSBC AMC as it revisits earlier order
Sebi's order relates to actions by L&T asset management company, which was acquired by HSBC Group last year in May and was merged with its asset management company in October 2023.
Sebi rules order exonerating HSBC AMC "erroneous", slaps Rs 5 lakh penalty on it
Sebi was examining if the fund house had adequately recorded reasons for its investment decisions, among other things. Also, the market regulator looked into the reasons for the sale of three stocks viz. Hindustan Zinc, Sadbhav Engineering and Vodafone Idea, which resulted in losses worth Rs 1.61 crore, Rs 14.97 crore and Rs 25.43 crore, respectively. The total loss was recorded at Rs 42 crore.
HSBC appoints Georges Elhedery as group chief executive
HSBC Holdings Plc announced the appointment of Georges Elhedery as the group chief executive, effective September 2. The appointment marks its third CEO change in less than eight years. Elhedery, currently the CFO, will succeed Noel Quinn. With a background in trading and investment banking, Elhedery previously led HSBC's Middle East and North Africa region. Quinn, who steered the bank through challenges, will support the transition until April 30, 2025.
Biocon Biologics to raise debt of Rs 4,500 crore for Viatris Payout
Biocon Biologics plans to raise ₹4,500 crore with HSBC and MUFG's aid for a $175 million Aflibercept option. Previous funding by Kotak and Edelweiss and Crisil predicts ₹4,800 crore debt by FY26. Tackling $1.2 billion debt, Biocon's net profit at 7% due to high-interest costs. Revenue at 57% in FY24. Ownership stands at 70%, market improved post-Viatris transition.
HSBC raises target price of Titagarh Wagons on strong prospects for passenger rail system orders, sees 10% upside
HSBC raises Titagarh Wagons target to Rs 2,000 due to metro contracts and Indian Railways modernization. Despite 5% Q1 FY25 profit growth, a 28% CAGR shows robust potential. Industry seasonality impacts 16% year-on-year IR's wagon additions. A 45x P/E, JVs, and 74% stock surge strengthen Titagarh's promising outlook.
HSBC Flexi Cap review: 22% returns in three years; should you invest in this flexi-cap fund?
Earlier known as HSBC Multicap Equity, this fund was rebranded to reflect its fluid positioning as a flexi-cap fund. The fund prefers quality businesses characterised by scalability and strong execution capability, proven management track record and strong financials. The ESG parameters and valuation are also embedded in the framework. ET Wealth examines the key fundamentals of the fund, its portfolio and performance to help you make an informed investment decision.
HSBC taps metaverse to win business from India’s rich diaspora
HSBC expands offerings for India's affluent diaspora through a virtual bank in GIFT City, leveraging the metaverse. The bank aims to capture a share of the $112.5 billion remittances to India from non-residents. With the hiring of a UBS executive, HSBC eyes the potential $5.5 trillion wealth management industry in India by 2025.
Promoter Mala Relan cuts stake in Sharda Motor
Promoter Mala Relan offloads 25 lakh shares of Sharda Motor Industries for 499 crore in a block deal on NSE, selling at 1,996 each. With an 8.76% stake as of March 31, major buyers include Nippon India MF, Edelweiss MF, HSBC MF, ICICI Prudential MF, and Axis Smallcap Fund. Sharda Motor's shares climb 3.13% to 2,060, outperforming the BSE Smallcap Index's 8.73% gain over the past month.
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