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Morgan Stanley is optimistic about Aditya Birla Group’s retail ventures, initiating coverage on Aditya Birla Lifestyle Brands Ltd (ABLBL) with an “Overweight” rating, projecting a 23% upside. Simultaneously, Aditya Birla Fashion and Retail Ltd (ABFRL) was upgraded to “Overweight,” anticipating a 53% potential increase. This upgrade is due to improved profitability.Read More

Global bonds are rallying, with Bloomberg’s GlobalAgg Index hitting its highest level since March 2022, fueled by cooling US labor data and expectations of Federal Reserve rate cuts. Central banks are reducing borrowing costs amid easing inflation and labor market concerns. However, longer-dated bonds face pressure due to fiscal risks in France, the UK, and Japan.Read More

Bitcoin is trading steadily near $112K, while Ethereum hovers around $4.3K, buoyed by hopes of U.S. rate cuts and institutional buying. Analysts suggest September is a crucial month for crypto, with the SEC easing compliance and Nasdaq exploring tokenized securities. Market sentiment balances optimism with caution amid tightening regulations and ongoing innovation.Read More

Bank Indonesia acted to stabilise markets. This followed the unexpected removal of Finance Minister Sri Mulyani Indrawati. The move triggered a selloff in the Rupiah and Indonesian bonds. Bank Indonesia bought longer-dated government bonds. They also intervened in the foreign exchange market. This was to ensure the Rupiah’s exchange rate aligned with fundamentals. The interventions aimed to calm investor concerns.Read More

Amanta Healthcare shares: Amanta Healthcare shares debuted with a premium, listing at Rs 135 on NSE and Rs 134 on BSE against an issue price of Rs 126. The Rs 126 crore IPO, a fresh issue, will fund expansion, including a new SteriPort line. Despite strong demand and oversubscription, analysts consider the IPO “fully priced,” citing a high price-to-earnings ratio.Read More