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Economic Times
37 minutes ago
- Economic Times
Defence stocks in focus as DAC clears capital acquisition proposals worth over Rs 1.05 lakh crore
Defence stocks will be in focus on Friday after the Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, approved 10 capital acquisition proposals worth approximately Rs 1.05 lakh crore. ADVERTISEMENT All proposals were cleared under the 'Buy (Indian-IDDM)' category, promoting indigenously designed, developed, and manufactured systems to boost domestic defence production. According to the Ministry of Defence (MoD), the approvals include the procurement of Armoured Recovery Vehicles, Electronic Warfare Systems, Integrated Common Inventory Management Systems for the Tri-Services, and Surface-to-Air Missiles. These acquisitions aim to enhance mobility, strengthen air defence capabilities, and improve logistical efficiency for the Armed Forces. Also Read: Suzlon, Adani Ports among 10 stocks that earned upgrades in last 1 month. Check revised target price The DAC has also approved the procurement of Moored Mines, Mine Counter Measure Vessels, Super Rapid Gun Mounts, and Submersible Autonomous Vessels for the Navy. These systems are expected to enhance maritime safety by mitigating threats to naval and merchant ministry stated that the decision aligns with the government's focus on indigenisation and self-reliance in the defence sector. All proposals have been cleared under the 'Buy (Indian–Indigenously Designed, Developed and Manufactured)' category, ensuring the involvement of Indian vendors and promoting development within the domestic defence ecosystem. ADVERTISEMENT Also Read: 10 Nifty smallcaps with up to 29 buy calls; analysts see up to 26% upside (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
an hour ago
- Time of India
Jane Street ban: US trading firm barred by SEBI from accessing India's securities market; case relates to alleged index manipulation
SEBI issued an interim directive stating that Jane Street would be banned from participating in the country's securities market. (AI image) US trading firm Jane Street has been barred by Indian market regulator, the Securities and Exchange Board of India (SEBI), from domestic markets. The ban follows an investigation into suspected manipulation through equity derivatives positions. SEBI issued an interim directive on July 3 on its official website, stating that Jane Street would be banned from participating in the country's securities market. 'Entities are restrained from accessing the securities market and are further prohibited from buying, selling or otherwise dealing in securities, directly or indirectly," the SEBI notice said with reference to Jane Street order. The regulatory body has also decided to recover 48.4 billion rupees ($566.71 million) from Jane Street, which SEBI claims were obtained through alleged improper practices, according to a Reuters report. In response to the SEBI ban, Jane Street denied the charges. "Jane Street disputes the findings of the SEBI interim order and will further engage with the regulator. Jane Street is committed to operating in compliance with all regulations in the regions we operate around the world," the firm responded via email according to the Reuters report. SEBI's regulatory action comes at a time when several international trading companies, including Citadel Securities, IMC Trading, Millennium, and Optiver, are expanding their operations in India's flourishing derivatives markets. The regulatory body confirmed that it would continue to keep an eye on Jane Street's activities on current positions whilst its investigation remains ongoing. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Economic Times
an hour ago
- Economic Times
India on a strong macro footing despite global chaos: Rupen Rajguru
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads "So, from a global setup, while US earlier fears of recession does not seem to be coming true, but there is definitely going to be some slowdown and in a way from India perspective, what I believe, as I said, the stars are aligned and the earnings growth which witnessed a little bit of slowdown sometime in last third quarter or so, we believe is now going to pick up. So, what we believe that we are in a very good wicket as we speak," says Rupen Rajguru So, in the current context, I would say chaos is a feature and not the bug in the current context. Having said that, from an India perspective purely if I were to see, the macro really looks pretty good simply because A) if I were to look through the balance sheet of the government, also balance sheet of the banks, as well as corporates, all are in a very healthy state, and the issues which we were facing sometime middle of last year wherein the government spending was not coming through and RBI was a little bit tight on the regulatory side, both those issues are receding. And because of those two issues, we saw the earnings of the India Inc coming down. But what we saw from the fourth quarter and what we believe this year also it would continue, the earnings momentum will again restart in said that, the key concern which has been haunting not only Indian but the global markets is, how the global macros will shape up. And incrementally, what we are seeing that while there has been a lot of debate about the impact of, the first of all, the reciprocal tariff and in what form and shape it will be taking place, but one thing appears to be clear that the rate of growth specifically in the US market is definitely going to slow, the dollar is going to be weak, and probably some of the other parts of the world so be it Europe, be it some of the other emerging markets definitely are going to do from a global setup, while US earlier fears of recession does not seem to be coming true, but there is definitely going to be some slowdown and in a way from India perspective, what I believe, as I said, the stars are aligned and the earnings growth which witnessed a little bit of slowdown sometime in last third quarter or so, we believe is now going to pick up. So, what we believe that we are in a very good wicket as we as you are right, if you look market on a daily basis, there will always be some action somewhere. But from our perspective at a structural level, considering India as a structural story, we definitely like two-three broader bigger themes. So, BFSI being one of them because that is the best way to play the entire India growth story and if I were to just put it in a very simplistic way, the best way to play India is through BFSI, consumption, and through capex, so that is the best way to play the current context, what we have seen is that A) the way the RBI has completely gone, I would say, the bazooka which it has given in the latest credit policy through direct means like rate cut, CRR cut and OMOs and forex swaps in which they have infused massive amount of liquidity in the system and liquidity which was negative is now into surplus and indirect ways by way of lowering down the regulatory bar in some of those measures, which they had done tightening last year. The focus is clearly going to be in an environment with rate cuts and easy liquidity and lower inflation, NBFCs tend to do well and for that matter all the wholesale funded financiers also tend to do well. So, we like NBFC as a segment. Secondly, also in an environment where finally now we are seeing rates getting lower and banks also are cutting their fixed deposit rates, so some of the products on the insurance side, some of the savings product or the non-par products we believe will come back into another segment within the BFSI which we like are the insurance companies and there again what we are seeing if I were to look back for last three-four years, a lot of the insurance companies had seen a de-rating because the regulatory environment was also pretty tight out there, that we believe is changing and secondly, as I said some of the savings or the non-par products which are a very high margin product for the insurance companies that will come back into reckoning and we believe some of the players are in a good position to capitalise on with the earnings growth also coming back and the de-rating done and there is a possibility of re-rating, so insurance companies, we believe are better placed, so that is the other theme which we like.I would say, rural recovery, the rural economy is we believe is doing well and the rural consumption we believe will come back simply because now the inflation is lower, so for the first time after a long period of time the real wage growth rate in rural is monsoons are good. There is record production on the food side, so that should aid that. So, rural recovery is a good theme. So, some of the sectors related to that be it two wheelers, be it some of the retailers, and all we expect them to do the way the market is, frankly there are not many so-called dark horses. So, if I were to purely look at, if there are any contrarian bets, I would say some of the low-ticket consumption item which is again linked to the rural theme which I said, but those segments are completely beaten down by the some of the companies on the home improvement side, while the real estate cycle has been strong but the home improvement companies, stocks have struggled. So, some of the tile companies, pipe companies and all have not done that well and some of the low-ticket consumer discretionary items be it the footwear, luggage, all have not done that well, so that can be something which clearly can potentially be dark horse because while the earnings growth has not been there, but we believe there would be earnings growth and those stocks have done nothing for last couple of years or so, there can be some potential value emerging out there.
