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Nomura has maintained an 'overweight' stance on Indian equities, citing a structurally positive outlook despite near-term macroeconomic risks. The brokerage highlights the resilience of domestic equity flows and robust earnings growth prospects for 2025, while acknowledging potential valuation vulnerabilities amid global uncertainties.
Nomura maintains its prediction that the Reserve Bank of India will cut interest rates by 25 basis points, despite rising inflation and a weakening rupee. The investment bank argues that concerns over economic growth outweigh inflation worries, noting that high prices are limited to specific items like food, while broader inflation remains subdued.
Edelweiss Financial Services' stock has surged for the fifth consecutive day, reaching an upper circuit limit of Rs 123.76, a 10% increase. This rally is attributed to the company's potential sale of a minority stake in its mutual fund unit, with Nomura reportedly being hired to assist in finding a buyer. The stock's market capitalization stands at Rs 11,200 crore, with a 52-week range of Rs 59.41 to Rs 145.53.
China's yuan is projected to weaken to record lows as U.S. tariff threats escalate, with major investment banks forecasting an average of 7.51 per dollar by the end of 2025. The yuan's depreciation poses challenges for Chinese authorities, who aim to stabilize the currency while reviving the economy. The People's Bank of China is expected to implement measures to prevent excessive declines, balancing currency control with economic growth.
LTIMindtree's shares rose to Rs 6,262 after announcing a revenue target of $10 billion by FY31-32, though brokerages expressed caution due to challenges in discretionary spending. Nomura maintained a "reduce" rating with a target of Rs 5,140, while Morgan Stanley issued an "overweight" rating with a target of Rs 7,050, highlighting positive sales momentum.
SBI Holdings Inc. has disclosed its mutual funds' exposure to Adani Group securities, following similar actions by Nomura Holdings Inc. and other Japanese financial firms amid the ongoing fallout from the conglomerate's scandal. SBI's asset management division detailed the weightings of Adani-related stocks in four publicly offered investment trusts, while Nissay Asset Management Corp. reported on ten index funds.
Edelweiss Financial Services Ltd. has engaged Nomura Holdings Inc. to assist in selling a minority stake of 25% to 35% in its mutual fund business. The Mumbai-based firm is targeting a valuation between $700 million and $800 million for the entire unit.
Bill Hwang, founder of Archegos Capital Management, has been sentenced to 18 years in prison for fraud and market manipulation following the fund's collapse in 2021, which affected major banks like Credit Suisse and Nomura. Hwang was convicted on ten counts after misleading banks to finance risky investments, leading to a staggering $160 billion market exposure. A hearing regarding potential compensation is set for Thursday, while the former CFO, Patrick Halligan, awaits sentencing on January 27.
Bill Hwang, founder of Archegos Capital Management, has been sentenced to 18 years in prison for fraud and market manipulation, following the collapse of his hedge fund in 2021, which was valued at $36 billion. The court found that Hwang's actions led to significant losses for major banks, including Credit Suisse, Morgan Stanley, and UBS. The prosecution had sought a 21-year sentence, but the judge deemed this excessive.
Nomura Holdings Inc. has updated its US regulatory filing to include new risks following the arrest of a former employee in Japan on serious charges, including robbery and attempted murder. The firm now warns of potential criminal actions by employees against customers or their families, in addition to standard misconduct risks. This update was detailed in a 6-K report submitted to the US Securities and Exchange Commission this month.
Nomura Holdings, Inc.
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