Latest news with #Relli
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Business Standard
2 days ago
- Business
- Business Standard
Markets cheer RBI's jumbo rate cut; Sensex ends 746.95 points higher
Benchmark equity indices surged on Friday to post their biggest single-day gains in three weeks after the Reserve Bank of India (RBI) trimmed interest rates by 50 basis points. The 30-share BSE Sensex jumped 746.95 points, or 0.92 per cent, to settle at 82,188.99. The 50-share NSE Nifty reclaimed the 25,000-level and climbed 252.15 points, or 1.02 per cent, to settle at 25,003.05. Interest-rate-sensitive realty index soared 4.74 per cent, while auto index raced 1.50 per cent and bankex climbed 1.25 per cent. Friday's rally added ₹3.6 trillion to the market capitalisation of BSE-listed firms, which now stands at ₹451 trillion. With the latest reduction, the RBI has now cut interest rates by a total of 100 basis points in 2025, starting with a quarter-point reduction in February — the first cut since May 2020. Additionally, the RBI slashed the cash reserve ratio by 100 basis points to 3 per cent, a phased cut effective between September and December. These measures are expected to inject ₹2.5 trillion into the financial system. "Several external headwinds — ranging from US tariff policies and global trade tensions to sluggish worldwide growth and geopolitical risks — have weighed on domestic economic prospects, reinforcing the rationale for monetary easing,' said Dhiraj Relli, managing director and CEO of HDFC Securities. 'With enhanced liquidity and reduced borrowing costs, conditions are now set for sustained economic momentum and a market recovery. This stimulus could propel Indian equity markets beyond their current trading range, potentially pushing the Nifty past 25,000 and toward previous highs of 26,200," Relli added. The market breadth was positive, with 2,194 stocks advancing and 1,832 declining. Barring two, all Sensex stocks gained. HDFC Bank, which rose 1.4 per cent, was the biggest contributor to Sensex gains, followed by Bajaj Finance, which rose by 4.9 per cent. Bajaj Finance was also the best performing stock on the Sensex. "Monsoon-linked sectors such as fertilisers, agrochemicals, rural finance, and two-wheelers will be in focus, backed by forecasts of an above-average monsoon in 2025. We expect Indian markets to witness a gradual upgrade, supported by positive sentiment following an anticipated rate cut by RBI and optimism surrounding a potential US-India trade agreement with officials from both sides meeting in New Delhi this week to finalise the first phase of the proposed deal,' said Siddhartha Khemka, head of research, wealth management, Motilal Oswal Financial Services.
Time of India
3 days ago
- Business
- Time of India
Nirmala Sitharaman backed consumption over capex. But guess who's making billions
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Four months after Finance Minister Nirmala Sitharaman's Union Budget appeared to pivot policy focus towards consumption, the real winners in the market have emerged from an unlikely corner: capital a budget speech that dialed back aggressive infrastructure spending in favour of easing middle-class tax burdens and supporting household demand, capital expenditure stocks have not only held their ground but have outperformed. The BSE Capital Goods Index has soared 10% since Budget Day, trouncing the Nifty India Consumption Index, which managed a muted 3% rise, and even outperformed the Nifty 50's 5% rally in capital goods stocks has added a staggering Rs 1.85 lakh crore in market value. Leading the pack is Hitachi Energy India , with a 54% surge. Defence heavyweights like Bharat Dynamics (up 49%), BEL (33%), and HAL (26%) have also posted stellar returns. Other notable gainers include Schaeffler India BHEL , Kaynes Tech, SKF India Suzlon Energy , and Inox Wind—all of which have clocked double-digit the consumption story hasn't lived up to the Budget's optimism. The Nifty India Consumption Index has underperformed broader markets. Varun Beverages and Colgate-Palmolive have posted double-digit declines.'The mix of cheaper starting prices, accelerating earnings, and stronger order pipelines explains why capital goods stocks have outperformed consumption,' Anoop Vijaykumar, Head of Equity at Capitalmind Mutual Fund told ET pointed to multi-year high order books at engineering firms and the RBI's OBICUS survey showing manufacturing capacity utilisation at 75.4% in Q3 FY25—the highest in six years—as signs that the industrial engine is firing on all cylinders.'Policy support for railways, defence, renewables and the PLI 2.0 schemes has not slowed; these programmes are multi-year and continue. Meanwhile, the consumption complex faces a softer near-term backdrop: rural volumes are only just turning positive, urban discretionary demand is normalising after two strong years, and the sector entered Budget season on richer valuations,' Vijaykumar Relli, MD & CEO of HDFC Securities, echoed the sentiment, calling the capital expenditure revival a "multi-year" phenomenon. 'Between FY21 and FY25E, private sector capex has grown at 19.8% CAGR. The momentum is likely to intensify in FY26, driven by domestic manufacturing, continued government infrastructure initiatives, and healthy corporate balance sheets,' he the flip side, Relli flagged that consumption faces headwinds from 'sluggish urban demand, delayed rural recovery, and persistent inflation.' While tax reductions and early signs of rural revival offer a glimmer of hope, margin pressure and steep valuations may limit is the capex story here to stay? Vijaykumar believes it is. 'The central government has already budgeted over Rs 11 lakh crore of infrastructure spending for FY26, while states and CPSEs have pencilled in similar growth. Private sector intent is also strengthening with new project announcements rising in double digits,' he said. With healthy corporate balance sheets and a banking system ready to fund fresh investments, 'the investment cycle is broadening rather than peaking.'Venugopal Manghat, CIO – Equity at HSBC Mutual Fund, is selectively bullish within capex. 'We like power, manufacturing and defence over roads and railways. Ongoing liquidity infusion by RBI, expected rate cuts, and regulatory easing should support NBFCs and banks,' he the consumption front, Manghat is cautious on staples. 'The sector has seen disruption from tech and new formats. With higher disposable incomes, households are shifting toward aspirational and discretionary spending,' he said. He sees greater opportunity in small-cap consumer discretionary plays, citing low penetration and a large unorganised-to-organised transition in the scorecard since the Budget is clear: while policy seemed to back the consumer, the market has placed its bets on industrial India. And for now, capex is delivering the returns.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Yahoo
06-05-2025
- Entertainment
- Yahoo
A$AP Rocky Posed With A Revolver-Themed Accessory At The Met Gala Less Than Three Months After He Was Cleared Of Gun Charges, And People Have Thoughts
In case you missed it, the 2025 Met Gala took place last night, and rapper A$AP Rocky was co-chair alongside Colman Domingo, Lewis Hamilton, Pharrell Williams, and honorary chair LeBron James. Arturo Holmes/MG25 / Getty Images for The Met Museum/Vogue For reference, this year's theme was Superfine: Tailoring Black Style with a 'Tailored for You' dress code. And it's fair to say that it was a pretty strong night for Rocky, with the star hitting the headlines when his girlfriend, Rihanna, confirmed that she is pregnant with their third child ahead of the iconic red carpet. Taylor Hill / Getty Images Related: 28 Celebs Who Never Seem To Get Canceled Despite Some Pretty Awful Behavior In addition, Rocky was undeniably among the best dressed of the night, with the star exceptionally on-theme in a custom design from his own creative agency, AWGE. He expertly mixed sportswear with the Black dandy inspiration behind the dress code, with Rocky also telling Vogue that he sought inspiration from his Harlem youth when executing the look. Theo Wargo / FilmMagic However, there is one part of the artist's Met Gala outfit that has divided people, with some social media users left unimpressed when they noted that Rocky had accessorized with an umbrella that has a revolver handle after recently being cleared of gun-related assault allegations in court. Dimitrios Kambouris / Getty Images for The Met Museum/Vogue Related: 15 Celebs Who Went From 'Wait, They Did WHAT?!' Normal Jobs To Massive Fame If you need reminding, in February, the star was found not guilty on two felony counts of assault with a semiautomatic firearm. He had been accused of shooting his former friend A$AP Relli, real name Terell Ephron, during an altercation in 2021. Pool / Getty Images The Los Angeles County trial lasted for three weeks, and Rocky — real name Rakim Mayers — could have faced 24 years in prison if found guilty, but prosecutors only sought eight years. At the time, prosecutors alleged that Rocky pulled a semiautomatic pistol from his waistband and pointed it at Relli as he said: 'I'm going to kill you.' The two had apparently met up close to a Hollywood hotel to settle a dispute, and Relli alleged that Rocky fired in his direction twice — claiming that one of the bullets grazed his hands. However, Rocky's defense argued that the weapon allegedly used in the shooting was just a 'prop gun,' or a starter pistol, not a real firearm. The 'fake gun' proved to be a key part of the trial, with witnesses testifying that Rocky did not carry a real weapon, but had the prop gun when he did not have security with him. It was claimed that Rocky fired the prop gun to stop Relli from attacking one of their friends. Rocky was found not guilty by the jury, and famously leaped over the stand to hug Rihanna in court when the verdict was announced. Still, some found Rocky's inclusion of a gun in his Met Gala look less than three months later to be in bad taste, with a viral tweet reading: 'A revolver handle umbrella after beating a gun case is diabolical.' Jamie McCarthy / Getty Images At the time of writing, this tweet has been seen more than five million times and has hundreds of thousands of likes, retweets, and replies. 'This gun-handled umbrella is such a bold, dangerous statement to make after beating his case,' another popular tweet echoes. 'does rocky, a man accused of shooting someone, have a bedazzled GUN?' somebody else asked, while one more wrote: 'A pistol handle umbrella. This man is crazy.' What do you make of Rocky's gun-inspired accessory? Let me know in the comments below! More on this Also in Celebrity: Amidst His Legal Battle With Blake Lively, A New Interview With Justin Baldoni Just Dropped — And His Comments Are Raising Some Eyebrows Also in Celebrity: 16 Celebrities Who Are So Freaking Talented, They Could Be Famous For Something Entirely Different Than What You Know Them From Also in Celebrity: 13 Celebs Whose Awful Met Gala Experiences Low-Key Make Me Glad I'm Too Irrelevant To Ever Be Invited
Buzz Feed
06-05-2025
- Entertainment
- Buzz Feed
A$AP Rocky Posed With A Revolver-Themed Accessory At The Met Gala Less Than Three Months After He Was Cleared Of Gun Charges, And People Have Thoughts
In case you missed it, the 2025 Met Gala took place last night, and rapper A$AP Rocky was co-chair alongside Colman Domingo, Lewis Hamilton, Pharrell Williams, and honorary chair LeBron James. And it's fair to say that it was a pretty strong night for Rocky, with the star hitting the headlines when his girlfriend, Rihanna, confirmed that she is pregnant with their third child ahead of the iconic red carpet. In addition, Rocky was undeniably among the best dressed of the night, with the star exceptionally on-theme in a custom design from his own creative agency, AWGE. He expertly mixed sportswear with the Black dandy inspiration behind the dress code, with Rocky also telling Vogue that he sought inspiration from his Harlem youth when executing the look. However, there is one part of the artist's Met Gala outfit that has divided people, with some social media users left unimpressed when they noted that Rocky had accessorized with an umbrella that has a revolver handle after recently being cleared of gun-related assault allegations in court. If you need reminding, in February, the star was found not guilty on two felony counts of assault with a semiautomatic firearm. He had been accused of shooting his former friend A$AP Relli, real name Terell Ephron, during an altercation in 2021. Pool / Getty Images The Los Angeles County trial lasted for three weeks, and Rocky — real name Rakim Mayers — could have faced 24 years in prison if found guilty, but prosecutors only sought eight years. At the time, prosecutors alleged that Rocky pulled a semiautomatic pistol from his waistband and pointed it at Relli as he said: 'I'm going to kill you.' The two had apparently met up close to a Hollywood hotel to settle a dispute, and Relli alleged that Rocky fired in his direction twice — claiming that one of the bullets grazed his hands. However, Rocky's defense argued that the weapon allegedly used in the shooting was just a 'prop gun,' or a starter pistol, not a real firearm. The 'fake gun' proved to be a key part of the trial, with witnesses testifying that Rocky did not carry a real weapon, but had the prop gun when he did not have security with him. It was claimed that Rocky fired the prop gun to stop Relli from attacking one of their friends. Rocky was found not guilty by the jury, and famously leaped over the stand to hug Rihanna in court when the verdict was announced. Still, some found Rocky's inclusion of a gun in his Met Gala look less than three months later to be in bad taste, with a viral tweet reading: 'A revolver handle umbrella after beating a gun case is diabolical.' At the time of writing, this tweet has been seen more than five million times and has hundreds of thousands of likes, retweets, and replies. 'This gun-handled umbrella is such a bold, dangerous statement to make after beating his case,' another popular tweet echoes. 'does rocky, a man accused of shooting someone, have a bedazzled GUN?' somebody else asked, while one more wrote: 'A pistol handle umbrella. This man is crazy.'
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Business Standard
25-04-2025
- Business
- Business Standard
India markets' long-term fundamentals strong, says HDFC Securities
The brokerage house anticipates that foreign portfolio investor (FPI) outflows will stabilise, suggesting that India is nearing the end of a period of significant selling by overseas funds Khushboo Tiwari Mumbai Listen to This Article Indian markets continue to exhibit strong fundamentals in terms of valuations, earnings, and macroeconomic parameters from a long-term perspective, according to Dhiraj Relli, managing director of HDFC Securities. Relli made these remarks during the 25th-anniversary celebrations of the brokerage firm. The brokerage house anticipates that foreign portfolio investor (FPI) outflows will stabilise, suggesting that India is nearing the end of a period of significant selling by overseas funds. However, Relli cautioned that this does not signal an opportunity for aggressive buying in the market. "In the long term, India's growth story remains intact. All high-frequency indicators are favourable, and we
