Get up to speed with key market intelligence, news and insight before trading starts each day in this fast-growing economy with the Markets Daily India newsletter. Sign up here . Bank of Baroda , one of India’s biggest lenders, aims to double its balance sheet over the next five years by capitalizing on the country’s strong economic growth, expanding fee-based businesses and deepening its presence...
Get up to speed with key market intelligence, news and insight before trading starts each day in this fast-growing economy with the Markets Daily India newsletter. Sign up here . Bank of Baroda , one of India’s biggest lenders, aims to double its balance sheet over the next five years by capitalizing on the country’s strong economic growth, expanding fee-based businesses and deepening its presence overseas. Debadatta Chand , chief executive officer of the bank, which absorbed two state-run lenders in 2019, said larger balance sheets will be crucial as lenders look to compete globally. “If India wants globally competitive banks, scale and capital base are very important,” he said in an interview. “There are advantages to consolidation.” Authorities have been discussing options to create large state banks in Asia’s third-largest economy in order to finance big infrastructure and industrial projects. Prime Minister Narendra Modi has set a target to transform India into a developed economy by 2047. Currently, only State Bank of India , the country’s biggest lender, and private sector leader HDFC Bank Ltd. rank in the top 100 global sector list by total assets. China and the US have rivals among the 10 biggest, data compiled by Bloomberg showed. Read More: India’s Biggest Lender Backs Another Wave of Bank Mergers Indian banks have grown their balance sheets rapidly since the Covid-19 pandemic, supported by strong deposit inflows, rebounding credit demand and infrastructure spending in the world’s fastest-growing economy. Bank of Baroda, the second-largest state-owned lender, has expanded its total assets by nearly 75% to 21 trillion rupees ($219 billion) as of March-end over the last five years. That compares with a near-72% growth at State Bank of India and roughly 57% at third-ranked state-owned rival Punjab National Bank . The bank, founded by a king in 1908 in the western part of India, has a reasonably strong global footprint, serving over 183 million customers acro...
jabkitticha/iStock via Getty Images Quarterly Snapshot Performance The Strategy declined 0.52% (net of fees) and the Russell 3000 Index declined 3.96%. Key Drivers Both stock selection and an overweight to industrials as well as our underweight to information technology were the primary drivers of outperformance during the quarter while financials were the largest relative negative. Summary The co...
jabkitticha/iStock via Getty Images Quarterly Snapshot Performance The Strategy declined 0.52% (net of fees) and the Russell 3000 Index declined 3.96%. Key Drivers Both stock selection and an overweight to industrials as well as our underweight to information technology were the primary drivers of outperformance during the quarter while financials were the largest relative negative. Summary The conflict in the Middle East is creating elevated near-term uncertainty, and we continue to evaluate the war's broad economic impacts. We continue to find attractive opportunities among large-cap, high-quality, cash-generative, more defensive businesses. Market and portfolio review Broad US equity markets declined during the quarter, with the Russell 3000 falling 3.96%, while performance across the cap spectrum was mixed. Small- and mid-cap stocks held up relatively better, with the Russell 2000 and Russell Midcap returning 0.89% and 1.29%, respectively, while large caps lagged meaningfully (-4.18%). Despite a sharp selloff in March, smaller capitalization stocks have maintained their relative outperformance year to date. The quarter was characterized by increased volatility driven by a combination of geopolitical developments and evolving expectations around artificial intelligence (AI). Escalating tensions in the Middle East and the associated rise in oil prices added to macro uncertainty, while ongoing debate around AI's long-term implications — particularly disruption risks — continued to influence market leadership. From a sector perspective, energy was far and away the best-performing sector, advancing 38% as oil prices rose sharply due to supply concerns following the closure of the Strait of Hormuz. Materials followed in a distant second (+9.5%). Financials (-9.0%), information technology (-9.1%) and consumer discretionary (-9.1%) were nearly tied as the worst-performing sectors in the quarter. Although our overall underweight to the information technology sector was a...
(RTTNews) - Indian shares were slightly higher in early trade on Thursday as oil prices stabilized and investors pinned hopes on U.S.-China talks yielding positive results on the Iran war.
(RTTNews) - Indian shares were slightly higher in early trade on Thursday as oil prices stabilized and investors pinned hopes on U.S.-China talks yielding positive results on the Iran war.
Earnings Call Insights: Altimmune (ALT) Q1 2026 Management View "In April, we completed an oversubscribed public offering resulting in $225 million in gross proceeds" and "the proceeds from the April offering, along with our existing funds, resulted in a cash balance of approximately $535 million as of April 30," Jerome Durso said (Chairman, CEO & President). "We now have the financial resources t...
Earnings Call Insights: Altimmune (ALT) Q1 2026 Management View "In April, we completed an oversubscribed public offering resulting in $225 million in gross proceeds" and "the proceeds from the April offering, along with our existing funds, resulted in a cash balance of approximately $535 million as of April 30," Jerome Durso said (Chairman, CEO & President). "We now have the financial resources to fully fund the company through our Phase III MASH 52-week data readout, which is expected in 2029," Durso said (Chairman, CEO & President), adding, "We expect to initiate our global Phase III study in MASH in the second half of this year" and "the MASH Phase III trial will be called the PERFORMA trial." "We remain on track to report top line data from our Phase II trial next quarter" in alcohol use disorder (AUD), and "in ALD, we now expect to complete enrollment of the RESTORE trial in the third quarter of this year," Durso said (Chairman, CEO & President). "A key strategic focus for the company was securing access to the capital required to successfully drive our clinical programs" and "as of March 31, we reported total cash of $332 million," Gregory Weaver said (Chief Financial Officer), adding, "on a PERFORMA basis, our cash position as of April 30 was $535 million." Outlook "We are well on our way towards initiating the study in the second half of the year," Christophe Arbet-Engels said (Chief Medical Officer), and "this is an important milestone in our global development strategy as the data from the PERFORMA Phase III trial will form the basis for regulatory submissions in multiple regions." "We will introduce the 2.4 milligram pemvidutide dose in Phase III," Arbet-Engels said (Chief Medical Officer), describing PERFORMA as "an event-driven study" with "the interim analysis" at "52 weeks based on biopsy" and stating, "There is no other interim analysis that is planned than these two." "We have another milestone approaching this year with the top line data from the ...
Apple (NasdaqGS:AAPL) CEO Tim Cook is joining President Trump and other top U.S. tech leaders on a business delegation to China. The group is meeting Chinese officials to discuss technology, trade, and regulatory issues that directly affect Apple's position in the country. The summit focuses on market access, product approvals, and longer term cooperation in areas such as hardware and AI. For Appl...
Apple (NasdaqGS:AAPL) CEO Tim Cook is joining President Trump and other top U.S. tech leaders on a business delegation to China. The group is meeting Chinese officials to discuss technology, trade, and regulatory issues that directly affect Apple's position in the country. The summit focuses on market access, product approvals, and longer term cooperation in areas such as hardware and AI. For Apple, China is a key market for iPhone, iPad, Mac, and wearables, as well as a core hub for its...
Honda Motor Co. forecast a rebound in operating profit for the current fiscal year, even after an ill-timed bet on electric vehicles led to a writedown and a record loss. The manufacturer of cars and motorcycles sees profit of ¥500 billion ($3.2 billion) for the period ending March 2027, higher than the consensus estimate of ¥212.4 billion. It posted a ¥414.3 billion shortfall during the previous ...
Honda Motor Co. forecast a rebound in operating profit for the current fiscal year, even after an ill-timed bet on electric vehicles led to a writedown and a record loss. The manufacturer of cars and motorcycles sees profit of ¥500 billion ($3.2 billion) for the period ending March 2027, higher than the consensus estimate of ¥212.4 billion. It posted a ¥414.3 billion shortfall during the previous year, its first annual loss since it was founded in 1948. The Japanese carmaker has struggled to keep up with intense competition as the global automobile industry shifts toward electrification and automation. Honda has insufficient models to tap into renewed demand for gas-electric hybrids in the US, while in China local brands churning out EVs have all but taken over what is now the world’s largest car market. The onus now falls on Chief Executive Officer Toshihiro Mibe to stem further losses and stabilize Honda’s automobile business before it becomes too much of a burden for its more profitable motorcycle unit. “The management group there has been shielded too long by a super profitable motorcycle business that allows them to push problems with the automotive business under the rug,” said Christopher Richter, a senior analyst at CLSA Securities Japan. “The motorcycle business has become a crutch for Honda that prevents them from taking a serious look at their automotive business.” Read More: Honda’s Car Troubles Began Long Before Disastrous Bet on EVs Almost one in three motorcycles sold globally carries the Honda badge. The unit generates a majority of the company’s operating profit despite accounting for less than a fifth of sales. A host of geopolitical challenges — war in the Middle East, US tariffs and a shortage of Chinese semiconductors — have only added to the challenges faced by global carmakers as they navigate the transition toward EVs and software-focused development. Honda first sounded the alarm of a costly slowdown in EV demand in early February. Soon afte...