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The Latest Breaking News from CLSA

Kaynes Technology shares plunge 19%. Why JPMorgan, Nuvama downgraded the EMS stock

Kaynes Technology shares plunged after the company’s Q4 results disappointed investors on multiple fronts, including a revenue guidance miss, weaker balance sheet metrics, and a sharp drop in profit. The stock fell to Rs 3,760.10 on the BSE as brokerages turned cautious following the earnings report.

The Economic Times

India underperformed Korea by 180 percentage points; but the worst FII selling may be over, says Vikash Kumar Jain

India underperformed Korea by 180 percentage points; but the worst FII selling may be over, says Vikash Kumar Jain

India's stock market has lagged behind other Asian markets. This underperformance has made Indian stocks less expensive. Investor expectations are now lower. The market is positioned for potential gains if global risks decrease. Valuations are no longer stretched. The risk and reward for investors are now more balanced than in…

The Economic Times

Explained: Why Vedanta shares are up 4% after government's royalty cut on crude oil

Explained: Why Vedanta shares are up 4% after government's royalty cut on crude oil

Vedanta shares rallied after the Centre reduced royalty rates on crude oil and natural gas production, a move expected to lower costs for the company’s Rajasthan fields and support upstream exploration. Brokerage CLSA said the royalty cut could significantly benefit Vedanta, while investors also await the listing of its demerged…

The Economic Times

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ONGC shares rally 6% after govt cuts crude oil royalty; CLSA explains why it’s a big boost

ONGC shares surged 6% after CLSA termed the government’s decision to cut crude oil and natural gas royalty rates a major positive for upstream producers. The brokerage said the move could raise ONGC’s fair value by 7-9% and Oil India’s by 9-11%. Oil India shares also gained 7.5%, while CLSA…

The Economic Times

Zee slumps 10% after Sony scraps $10 billion India merger

Zee Entertainment Enterprises Ltd tumbled as much as 10% after the cancellation of a planned $10 billion merger with Sony Group Corp in India sparked a flurry of downgrades, with most analysts predicting a sharp contraction in its valuations.

The Times of India

Markets Today: Stocks Mixed as Debt Ceiling Negotiations Continue

Morning Markets U.S. stock indexes this morning are mixed. The S&P 500 Index ( $SPX ) ( SPY ) is up +0.10%, the Dow Jones Industrials Index ( $DOWI ) ( DIA ) is down -0.27%, and the Nasdaq 100 Index ( $IUXX ) ( QQQ ) is up +0.41%....

Markets Today: Stocks Slightly Higher as Debt Ceiling Negotiations Continue

Morning Markets June E-Mini S&P 500 futures (ESM2 3) this morning are up +0.10%, and June Nasdaq 100 E-Mini futures (NQM2 3) are up +0.04%. U.S. stock index futures this morning are slightly higher. M&A activity today is lifting the overall market after Chevron agreed to buy PDC Energy for...

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CLSA Expects SoftBank To Focus More On Buybacks Than High Growth Stocks Like Alibaba

CLSA Expects SoftBank To Focus More On Buybacks Than High Growth Stocks Like Alibaba

Softbank Group Corp (OTC:SFTBY) (OTC:SFTBF) may, for the first time, spend more on share buybacks than investments through its landmark Vision Fund as the firm goes into "defense" mode, according to CLSA's Oliver Matthew. "I think that the comments yesterday from Masayoshi Son made it very clear we're in defense round…

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