• One of the key takeaways of the policy was that the Fed was not overly worried about inflation crossing the 2% mark
• However, the hawkish tone of the Fed still retains the likelihood of the Fed hiking rates by 25 bps in June

• New norms, effective from June 01^st insist that the SPAN plus exposure margins be deposited with Clearing Corporation
• This will impact options volumes and is intended to protect the market in case of a bear phase

• The downgrades were on the back of rising global Brent Crude prices and the narrowing spread between RASK and CASK
• The company reported a sharp fall in profits in the quarter and has also taken a hit on aircraft maintenance shutdowns

• The combined growth in PMI Manufacturing and Services is a good sign of a pick-up in demand in the economy
• The services sector was under pressure and is all the more critical as it accounts for 60% of the GDP

• Most of the Asian economies have learnt their lessons the hard way about 20 years back during the Asian crisis
• Being export dependent, most currencies in Asia are heavily vulnerable to dollar strength

• TAMO has only sold its non-core defence business but will continue to supply defence vehicles for defence
• This is part of the overall rationalization program launched by Tata Sons under the leadership of Chandra

• Measure will include freezing the shareholding of promoters and also desist shares if listing norms are not complied
• In addition, the stock could either be suspended from trading or even moved to the restricted category for trading

• This will be necessitated after the highest bid by Thriveni Earthmovers was rejected by the lenders
• The company owes more than Rs.45,000 crore with ICICI Bank and IDBI Bank being among the major creditors

• Flipkart bought back about 1.89 million shares from several minority shareholders ahead of the Wal-Mart deal
• The ideas is apparently that in case of a private company the compliance requirements will be much less stringent

• Apple is now the largest shareholding in the Buffett Portfolio overtaking traditional favourites like Wells Fargo

Apple’s profits are already twice that of the second most profitable company, which is why Buffett is betting big

• Ruchi Soya is under NCLT with a total debt of more than Rs.10,000 crore currently
• However, the company has some marquee brands and a strong production and distribution franchise

• Post the reclassification, the number of schemes of Indian mutual funds has actually gone up
• Despite a total of 34 categories being defined by SEBI, large AMCS are still having more schemes than that

• The dispute had started when Ultratech made an offer for Binani Cement, outside the purview of NCLT
• However, after the Bhushan Steel sale, it was clear that like in the case of Liberty, Ultratech will also get a second chance

• This reclassification will lead to a significant amount of restructured assets becoming NPAs
• PSU bank NPAs could go up by 400 bps and private bank NPAs by 200 bps due to the new framework

• This is slightly lower than the more aggressive growth seen in the last few months
• Coal, electricity and steel manufacturing came under pressure while there was traction on oil, natural gas and refining

• The $2.1 billion sale helps L&T to monetize its non-core assets and focus on its core infrastructure space
• With a turnaround in the capital cycle, L&T expects positive traction from its hydrocarbons infrastructure business

• This could be largely attributed to the special RBI dividend and back-ending of capital expenditure in the last quarter
• In the Union Budget 2018, the government had guided a 30 bps spillage in fiscal deficit, which stands reduced to 20 bps

• The massive and sustained growth in sales numbers for Maruti was largely led by the compact cars segment
• However, the immediate problem for Maruti is the lower OPM due to higher operating costs at its plant

• The company has already reduced its debt from Rs.27,000 crore to Rs.5500 crore in the last couple of years
• DLF plans to go debt free by March 2019 and that is likely to help the company improve valuations substantially

• The withdrawals were predominantly in the debt segment with a lower share in the equity segment in April
• If the Fed gets more hawkish then the outflows from FPIs could actually get accentuated in the future

• While there will be no limits on shorter duration government bonds, investment in corporate debt will be restricted
• In the aftermath of the crisis in 2013, the FPI investments in shorter duration bonds had been banned by the RBI