CUTS GOING FORWARD
What made Nomura turn bullish on Indian IT sector? Abhishek Bhandari answers
Nomura's bullish stance on Indian IT credits G2000 data stabilization, benefiting midcaps like Persistent, Coforge, and Birlasoft. Wipro's new CEO Srini stabilizes leadership and growth. Discretionary cuts stabilize; US rate cuts expected. Coforge-Cigniti deal boosts testing. Annuity-driven businesses grow. Banking portfolios, large deals vital. FY24 saw midcaps grow 10%+. QoQ growth set to improve.
Is Wall Street factoring in a rate cut by year-end? Geoff Dennis answers
I think July is a tough call now, although the payroll numbers on Friday will give us another clue on that. But I think they will cut twice before the end of the year, probably in September and December.
Many South Korean companies assured investment in Karnataka across gaming, auto and FMCG sectors
The meeting took place between M.B. Patil, Minister for Large and Medium Industries and Infrastructure Development, Government of Karnataka and prominent Korean companies such as YG-1, Krafton Inc., Go Pizza, and HY Automotive Controls.
India central bank policymakers divided over rate-growth debate
Internal members maintain hawkish stance on inflation, with Governor Das cautioning against hasty actions for fear of worsening the situation
Cut GST on agrochemicals to 5% or at least 12% immediately: MK Dhanuka
MK Dhanuka of Dhanuka Agrotech says that because the monsoon prediction is good, although it is a little delayed in some parts of the country, definitely this year is going to be a bumper year for the agrochem industry because demand is much more and the supply is less, so the prices are also on the rise.
How will Indian IT companies perform going ahead? Sandip Agarwal answers
I think we are maybe one or two quarter away from it flowing down to even outsourcing. But because markets are forward looking, you can see a big run up even in the Indian IT services much before the actual numbers come.
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ETMarkets Smart Talk: Progressive Budget, normal monsoons & strong inflows will further re-rate markets: Amnish Aggarwal
We expect the NDA government to sustain focus on capex-led growth around PLI, Roads, Ports, Aviation, Defence, Railways, and Green energy, given a 20 bps lower fiscal deficit in FY24 (Than RE), normal monsoons, and Rs 2.1 lakh crore dividend from RBI.
Chris Wood of Jefferies cuts stake in 3 PSU stocks as PM Modi faces coalition challenge
Chris Wood predicts investors may tilt towards consumption plays over investment plays, anticipating focus on populist measures and revival of rural economy. The obvious possibility here is measures to revive the rural economy, he said.
We don't expect rate cut in 2024 unless growth or inflation surprises on downside: Tanvee Gupta Jain
I think the political outcome was suggesting that there is kind of a weak sentiment at the lower end of the income pyramid. And whether we accept it or not but India has seen a K-shaped consumption recovery post the pandemic. So, most of the high frequency data that we track are clearly indicating that affluent, premium segment demand in India has been doing well.
ECB to start rate cuts but sticky inflation clouds path ahead
The European Central Bank (ECB) is set to reduce eurozone interest rates from historic highs this week, with a quarter-point cut expected on Thursday, lowering the key deposit rate to 3.75%. Despite the reduction, persistent inflation and stronger-than-expected economic data suggest a slow pace for further rate cuts. ECB President Christine Lagarde is anticipated to provide future guidance post-meeting. Analysts predict only modest rate reductions throughout the year, with the deposit rate projected to reach 3.25% by the end of 2024.
How video gaming in India is now a ‘Bharat’ phenomenon
The Indian video gaming industry is being catalysed by the exponential growth of India’s IT infrastructure, widespread adoption of smartphones and the proliferation of high-speed internet connectivity. The industry’s evolution is evident in the rising percentage of gamers from non-metropolitan areas, which jumped from 57% in 2022 to 66% in 2023.
What to expect from RIL stock going ahead? Deven Choksey answers
To a greater extent likes of Reliance, likes of Bajaj Finance, likes of Kotak Bank are some of the companies where probably you find that the business condition remains absolutely upbeat and robust and at the same time the stock prices have not moved anywhere despite of the rally going on in this market.
RBI MPC meeting next week: What investors should expect
The RBI's upcoming MPC meeting on June 7, 2024, is expected to maintain interest rates amidst a stable inflation scenario post Lok Sabha election results. The focus will be on global and domestic factors impacting the economy.
Nvidia cuts China prices in Huawei chip fight
The flattening prices underscore the challenges Nvidia's China business faces amid U.S. sanctions on AI chip exports and heightened competition, casting a cloud over its future in a market that contributed 17% to its revenue for fiscal 2024.
Nvidia cuts China prices in Huawei chip fight, sources say
Nvidia's advanced AI chip designed for the Chinese market is facing challenges, with oversupply leading to lower prices than Huawei's rival chip. This highlights the difficulties Nvidia faces in China due to US sanctions and competition. While Nvidia aims to capture market share, the future looks uncertain. China's AI industry is growing, and Nvidia is balancing market needs and US tensions. The H20 chip's performance will be crucial, especially against Huawei's Ascend 910B, which is expected to see increased shipments.
Go Digit’s D-Street debut; Honasa Consumer Q4 financials
Shares of Go Digit General Insurance started trading on the stock market Thursday. More on this in today’s ETtech Top 5.
US stocks fall after Fed minutes; Nvidia shares climb after the bell
Investors had focused on whether Nvidia's first-quarter results could meet sky-high expectations and whether the outsized rally in artificial intelligence-related stocks could be sustained.
US stocks range-bound on Fed policy caution, Nvidia results watch
The Dow fared better than its peers, boosted by financials and a 1.5% rise in Microsoft, a day after the tech giant launched its new line of personal computers with AI features. JPMorgan Chase rose 1.3%, recovering from Monday's 4.5% slide. That, coupled with gains in other major big banks, steered a 1.2% advance in the S&P 500 banks index.
Rupee lingers close to near one-month high, forward premiums slip
Indian rupee at 83.3250 vs U.S. dollar, near 1-month high, faces hurdles from importer demand. Traders wary of equity outflows. Dollar index at 104.6. Korean won falls. U.S. bond yields rise. Fed cautious on inflation, hints at rate cuts by 2024.
Google cuts mystery check to US in bid to sidestep jury trial
Google disclosed the payment, but not the amount, in a court filing last week that said the case should be heard and decided by a judge directly. Without a monetary damages claim, Google argued, the government has no right to a jury trial.
Wall Street Week Ahead: Stock market's record-setting rebound may have further to go
Fresh signs of a cooling economy calmed inflation worries in May, helping all three major U.S. stock indexes rise to records this week. The benchmark S&P 500, which fell over 4% in April, is now up 11% year-to-date.
ETMarkets Smart Talk: Nifty hitting 24K is subject to Indian elections results and Middle East tensions: Sandeep Raina
Sandeep Raina of Nuvama projects Nifty50 levels at 24,000 to 25,000 based on expected EPS, influenced by Indian Elections and Middle East tensions. Market trends may align with US Fed’s policies, impacting inflation and equity performance. Raina further says that Indian markets will largely respond to the corporate earnings reports.
Rural markets continue to grow at one-and-a-half times urban market: Bharat Puri, Pidilite
Bharat Puri of Pidilite Industries aims for double-digit volume growth within a margin range of 20%-24%. Despite short-term challenges, long-term strategies focus on rural market growth, stable raw material prices, and value-driven pricing.
RBI not likely to cut interest rates soon; how this delay can impact bond investors, what they should do
The expected reduction in interest rates has been delayed, which is different from what was anticipated earlier this year. Experts now predict a slower and less substantial decrease. This has consequences for bond market investments.
Look for tactical plays now as there is no great value in any of the sectors: Anand Tandon
Anand Tandon advises focusing on tactical plays in private sector banks amidst market sector value concerns. He highlights the power sector's growth potential but suggests waiting for better entry points for investment in various sectors.
Why is rupee at an all-time low when all economic indicators are favourable? Indranil Sengupta explains
Indranil Sengupta discusses the impact of a strengthening dollar on the rupee, emphasizing the importance of building forex reserves. He forecasts rate cuts, strong growth, and a rally in bond yields by mid-2025. He also says that "inflation is yesterday's story. We are moving from El Nino to La Nina. So, food inflation will come down."
What to expect from Q4 earnings going forward? Ajay Bagga answers
China I think there is a recovery coming, so by the end of the second quarter you will see an incipient recovery in China, the stimulus working will help out China as well and that will really boost market sentiments
Stay away from incumbents like Asian Paints, Kansai Nerolac; 3 realty stocks going strong: Chakri Lokapriya
According to Chakri Lokapriya, interest rate cuts ususally benefit real estate sector. ITC eyes stake in Prataap Snacks. Grasim's paints business affects Asian Paints and Kansai Nerolac. Airtel, Indian Hotels, and Chalet Hotels perform well. Nifty IT shows positive gains. Indian IT services benefit from AI projects. Earnings growth drives market momentum.
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