The Serious Frauds Investigation Office (SFIO) has summoned Chanda Kochhar of ICICI Bank and Shikha Sharma of Axis Bank in connection with the PNB scam involving Nirav Modi and Mehul Choksi, both of whom are currently absconding. While Axis Bank had actually Read more [...]

The likely trade war between the US and the EU brings back memories of the previous trade wars in the 1930s which actually worsened the Great Depression of the 1930s. The story began with the US plan to impose 25% import duties on steel and 10% on aluminium. Read more [...]

As we had cautioned yesterday, the trade war fears led to the Nifty tanking by nearly 100 points on Monday. Asian markets continue to be tentative although Europe and the US saw some buying interest at lower levels. It is perhaps time to be a tad Read more [...]

After a long holiday weekend, Indian markets are likely to react on Monday to the import duties imposed by the US on steel and aluminium. The big overhang will be the possibility of a full-fledged retaliatory trade and currency war. The SGX Nifty Read more [...]

The GDP estimates for the third quarter of 2017-18 came out at 7.2% while the full year projections came in at 6.6%. The GVA (excluding the impact of taxes and subsidies) is expected to be around 6.4%. The Indian economy is likely to end the fiscal year Read more [...]

Even as the Nifty has held on to the 10,500 levels, despite the PNB fiasco taking its toll, the big story will be the GDP estimates for the fourth quarter. Any estimate that is 40-50 basis points higher than Q3 will be a big push for markets. Reliance Read more [...]

Both ACC and Gujarat Ambuja have confirmed that the merger plan mooted in May 2017 is currently being put on hold. While the companies accepted that merger was the ultimate goal, they were averse to committing to a merger at this point of time due to Read more [...]