Sensex vaults 1,422 pts, most in 10 years, after exit polls predict NDA win

All that happened in the markets today

8:27 AM

Most PSU stocks lost ground under the UPA II and NDA governments

Public sector enterprises are back on the government’s radar after it was learnt that the Ministry of Finance’s Department of Investment and Public Asset Management (DIPAM) has been examining plans to launch three equity exchange-traded funds (ETFs) in the current fiscal year after the formation of the new government. READ MORE

8:25 AM

Oil India likely to exit US, Russia blocks; to stay in Venezuela

In a major shift in its overseas strategy, state-run Oil India (OIL) is planning to exit from two major blocks in the US and Russia. This, despite India’s second-largest exploration major reaffirming its commitments to the crisis-hit Venezuela. READ MORE

8:24 AM

GST, demonetisation, joblessness: No one has any answer for voters

At the labour chowk in Adarsh Nagar, jobless men gather to watch. Unfolding in front of them is a road show by BJP candidate and cabinet minister Dr Harsh Vardhan in the Chandni Chowk constituency. Some 250 people stand amid the sea of saffron flags. Handed a cap by BJP supporters, migrant labourer Yogendra Paswan jokes: “I’ve already got one on but I suppose I can wear this one too for a while.” Turning serious, he adds: “And I wish the labour chowk had some jobs too.” READ MORE

8:22 AM

CARE downgrades Reliance Capital bonds' rating from 'A' to 'BBB'

CARE Ratings has downgraded Reliance Capital’s (RCap’s) long-term debt and subordinated debt rating by three notches from “A” to “BBB” due to reasons including defaults by two of its subsidiaries — Reliance Home Finance (RHFL) and Reliance Commercial Finance (RCFL). The agency also said it would keep the firm on credit watch with developing implications. READ MORE

8:21 AM

UP to dent BJP tally, BSP-NDA post-poll alliance possible: Ambit Capital

With only the last phase of polling of the seven scheduled left, a recent report by Ambit Capital suggests that the Bharatiya Janata Party (BJP) is likely to win 190-210 seats on a pan-India basis.

 

The report, co-authored by Ritika Mankar Mukherjee and Sumit Shekhar of Ambit Capital, pegs the total seats for Narendra Modi – led National Democratic Alliance (NDA) in the current form between 220 - 240, with the state of Uttar Pradesh (UP) causing a big dent in the total tally. READ MORE
 

8:19 AM

Mindtree acquisition on top of agenda; will make it a big firm: A M Naik

Acquisition of Mindtree is the topmost agenda for infrastructure giant Larsen & Toubro at the moment and eventually the mid-sized IT firm is going to be transformed into a big company, L&T Group Chairman A M Naik said.

 

The $20 billion conglomerate, which has taken its overall holding in Mindtree to about 26 per cent, will launch the open offer to buy additional stake in around 10 days, he added. READ MORE

8:19 AM

Election 2019 may see the highest voter turnout, but will it benefit BJP?

As the election 2019 season enters the final lap with polling left only for one phase of the seven scheduled, voter turnout this time around is likely to create a record. According to reports, the 2019 election is on track to achieve record voter turnout of around 67 per cent (55 – 56 million new voters relative to 2014 general elections), which would surpass the previous record of 66.4 per cent during the 2014 polls. READ MORE

8:16 AM

RBI readies credit line rules for NBFCs, may seek views after poll results

The Reserve Bank of India (RBI) is working on a liquidity line for non-banking financial companies (NBFCs) and may ask for suggestions from participants on draft guidelines after election results are declared. One of the likely measures is the central bank opening a special borrowing window for NBFCs, similar to what banks have, according to sources. READ MORE

8:15 AM

Exit Polls 2019: Be careful; take their forecasts with a bucketful of salt

We are at that stage in this election season when the term ‘exit poll’ starts getting popular. This long, bitter and hard fought election is about to come to a close with only one phase of voting left. Fifty-nine seats will vote on Sunday, May 19, to elect their representatives and with it 543 seats would have completed this exercise. READ MORE

8:12 AM

Explained: Why Nifty, Sensex rose after every Lok Sabha Election since 1999

India’s key stock market indices, the Nifty and Sensex, showed a rise six months after all the four Lok Sabha elections between 1999 and 2014, compared to the previous six months, according to an IndiaSpend analysis.

 

We analysed Nifty and Sensex levels on three key dates--six months before the first day of polling (pre-election), the first day of polling (during the election) and six months after the first day of polling (post-election), over the last four Lok Sabha elections. READ MORE

8:11 AM

Nifty can slip up to 15% if Narendra Modi-led NDA fails to form govt: UBS

As the 2019 Lok Sabha elections enter their final lap, with polling for only one of the seven seven phases left, all eyes are now on the outcome, which will be known on May 23. This uncertainty, coupled with other global developments, has kept the markets volatile in the past few sessions. READ MORE

8:08 AM

Slowing economic growth, lack of fiscal space will challenge next govt

Slowing economic growth and lack of fiscal space to boost it would be the main concerns of the next government. Economic growth is officially projected to come down to 7 per cent in 2018-19. Boosting private investments would be the key to spur growth, for which also the government has to rein in its fiscal deficit so that resources are not crowded out. READ MORE

8:04 AM

Narendra Modi's to do list for investors if he gets a second term

What Donald Trump would give to have rallies like Narendra Modi’s: the adulation, the machismo, the beautiful bigness of it all. Indian democracy makes American democracy seem quaint, puny and rather un-great. READ MORE

8:02 AM

Exit polls predict Modi 2.0, say BJP will repeat 2014 performance

Polling for the seventh and final phase of Lok Sabha (LS) elections 2019 ended on Sunday evening, with most exit polls predicting the Bharatiya Janata Party’s (BJP’s) phir ek baar Modi sarkar, or ‘once more Modi government’ slogan likely to get vindicated on the counting day on Thursday (May 23). READ MORE

8:01 AM

LS elections: Markets may rise 1-2% after exit polls show Modi's return

Equity markets are likely to extend gains after most exit polls showed Narendra Modi retaining power with a comfortable majority in the Lok Sabha elections 2019. The benchmark Sensex and Nifty could gain between 1 per cent and 2 per cent on Monday, said market players, adding that the gains will be capped as investors will wait for the actual outcome due later during the week (May 23). READ MORE