INDIAN IT SECTOR
Govt Goldmine: PSU stocks still partying hard on D-Street
Public sector stocks have seen a significant increase in market capitalisation post-election results, with speculation of potential government stake sales. Valuations are high, posing challenges for further price appreciation. Retail investors are advised to be cautious and consider CPSE ETF for investment.
Union Budget: What lies ahead for Modi's flagship PLI scheme?
As India prepares for Budget 2024, the spotlight is on Production-Linked Incentive (PLI) schemes, crucial for revitalizing manufacturing and strengthening supply chains. The government has raised the PLI allocation to ₹6,200 crore, signaling a 33% increase, underscoring its commitment to economic growth and job creation. Since 2021, PLI has attracted over ₹1.03 lakh crore in investments, generating 6.78 lakh jobs, with sectors like electronics and pharmaceuticals leading exports beyond ₹3.20 lakh crore.
What’s driving positivity in ONGC & Indian Oil? Probal Sen explains
Any engagement that continues on a national level with Russia, given how important an energy producer it is, will benefit Indian oil and gas companies and that is what some of the market seems to be factoring in that optimism going forward for the next 12 to 18 months, says Probal Sen.
India has been very successful in space sector in last 20 yrs: Former NASA astronaut
NAS Over Mars and landing on the moon. He expressed excitement for India's upcoming manned space mission, with two astronauts set to be trained by NASA. Additionally, India is developing its own space station, the Bharatiya Antariksha Station, expected to be operational by 2035.
Sudip Bandyopadhyay on 4 stocks to be bullish on from hospitality sector
As far as the hospitality sector is concerned, again it is a great space now and things are looking really good. But if I have to pick up a few stocks from this entire travel-tourism theme, I will probably go to one of the technology companies and some of the other hotel companies. So, as far as hotel companies are concerned, for a long-term investor, Indian Hotels and East India Hotels is good.
The dangers keeping India from winning the game
First up, some states banned real money games (RMG) such as poker to prevent harm to children and young adults. It was followed by a policy flip-flop on permissible and non-permissible games, and finally, the imposition of a 28 per cent goods and services tax on the sector.
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2 Indian nationals arrested in Italy for enslaving 33 countrymen on farms
Two Indian nationals have been arrested for allegedly enslaving 33 Indian farm labourers in Italy's Verona province. The incident follows the tragic death of a Sikh farm worker who bled to death. The suspects, who own two agricultural sector companies with no employees and are allegedly tax evaders, were seized by finance police. They are under investigation for crimes including enslavement and labor exploitation.
UAE names street after Indian-origin doctor for his 60-year contribution to healthcare
A street in Abu Dhabi has been named in honour of Dr George Matthew, a UAE citizen of Indian origin, in recognition of his remarkable contributions to the emirate's healthcare sector over nearly 60 years, as reported by Khaleej Times. Dr Matthew, now 84 years old, first arrived in the UAE in 1967 as a 26-year-old, long before the country's unification.
Budget 2024: Govt may tweak laws to push banking sector reforms in Budget session
The govt plans to introduce amendments to various banking laws during the Budget session to facilitate banking sector reforms, including privatisation of public sector banks. These amendments aim to decrease government holding in state-owned banks, enhance governance, and protect investors. The upcoming session, starting on July 22, will address these crucial changes.
India's economic growth masks deepening income inequality & sectoral disparities
The Indian economy is experiencing robust GDP growth, macroeconomic stability, and significant foreign capital inflows. However, there is a stark disparity in growth rates between the top 20% and the rest of the population. Despite a GDP growth rate of 8% for FY24, domestic consumption growth remains sluggish at 4%, highlighting income inequality as the wealthiest 20% accumulate 92% of the country's savings.
India tops China in billion-dollar realty companies
India's real estate sector has surged, boasting 36 homegrown companies valued at $1 billion or more, surpassing China in this regard. The growth, outlined in the 2024 GROHE-Hurun India Real Estate 100 report, highlights the sector's robust expansion driven by urbanization, infrastructure development, and shifting consumer preferences. Leading the pack is DLF with a valuation of ₹2 lakh crore, followed by Macrotech Developers and Adani Realty. Mumbai leads with 33 companies on the list, underscoring India's thriving property market amid significant global contrasts in real estate fortunes.
India outshines China with 36 real estate companies valued at over a billion dollars
India has surpassed China in the global real estate sector with 36 billion-dollar companies, a significant increase from just 7 six years ago. Mumbai leads with 33 companies, followed by Bengaluru and New Delhi. DLF is the most valuable, with Adani Realty entering the top 10. The sector's growth is driven by urbanization and infrastructure development, with 86% of companies increasing in value. The top 100 companies are valued at $171 billion, exceeding the combined GDP of Oman and Sri Lanka.
SBI Caps report highlights optimistic outlook for the Indian economy, despite deteriorating global pitch
The SBICAPS report maintains an optimistic view of India's economy, highlighting high power demand, a road construction slowdown, and robust credit in industry, services, and commercial real estate. FY2025 forecasts include power equipment imports, increased tolls, manufacturing growth, fastag collections, mutual fund shifts, and steady NIM despite RBI's crackdown on NBFC loans.
RBI job data matches with govt's: SBI Report
The latest SBI Research Ecowrap report highlights that the Reserve Bank of India's KLEMS data and the Annual Survey of Unincorporated Sector Enterprises (ASUSE) employment numbers from the government closely align. According to the report, the RBI's KLEMS data estimates India's total labour force at 597 million, whereas the ASUSE survey by MoSPI puts it at 568 million, indicating a negligible difference.
Banking sector in good financial health to support growth: RBI dy guv
The banking sector in India has reached a decadal high in terms of financial parameters and is poised to support the country's economic growth, said Reserve Bank deputy governor Swaminathan J on Tuesday. He was speaking at a conference attended by statutory auditors, chief financial officers of commercial banks, and all Indian financial institutions.
Food services sector may grow at 8% CAGR in 2024-28: NRAI report
The food services sector in India is set to grow at a CAGR of 8.1% from 2024-2028, reaching Rs 7.8 lakh crore by FY28. According to the report, rising incomes, urbanisation and changing lifestyles are significantly increasing the frequency of dining out.
India's food services sector to hit Rs 7.76 lakh cr by 2028: NRAI Report
India's food services sector is projected to grow from Rs 5.7 lakh crore to Rs 7.76 lakh crore by 2028, according to the National Restaurant Association of India's (NRAI) India Food Services Report 2024. This represents a CAGR of 8.1%, surpassing the RBI's GDP growth forecasts. The sector, currently the third largest industry after retail and insurance, is expected to employ one crore people by 2028, up from 85.5 lakh.
India sees 33% annual surge in diversity hiring, driven by BFSI and IT Sectors
India has experienced a notable 33% year-on-year increase in diversity hiring, reflecting a heightened emphasis on diversity and inclusion (D&I) policies among companies. The latest foundit Insights Tracker for June 2024 indicates an overall 12% yearly uptick in hiring activity, with the diversity hiring surge underscoring D&I's pivotal role in shaping the country's workforce. CEO Sekhar Garisa emphasizes the importance of inclusion initiatives like mentorship programs and bias training, with a forecast for deeper focus on building inclusive workplaces.
Govt, industry to discuss ways to promote growth of Indian toy sector on Jul 8
Government and industry to meet for discussions on boosting toy manufacturing and exports.
Ajay Bagga on Trump's influence and sectoral performance in Indian markets
The Chairman of Elyments Platforms highlights the slowdown in the US economy, noting softer labor markets and slowing wage growth. Despite market expectations of rate cuts in September and December, Fed officials remain cautious, waiting for more data. Bagga also discusses the potential impact of a likely Trump victory in the upcoming elections on global markets, emphasizing increased borrowing costs, lower taxes, and tighter immigration policies.
India's defence production skyrockets to Rs 1.27 lakh crore in 2023-24, thanks to 'Make in India' success
Defence Minister Rajnath Singh announced that India achieved its highest-ever growth in defence production value for 2023-24, highlighting significant milestones for the Make in India initiative. He reiterated the government's commitment to fostering a favorable environment to establish India as a key global defence manufacturing hub.
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.
India's FMCG sector to see revenue growth of 7-9 pc in fiscal 2024: CRISIL
CRISIL forecasts 7-9% revenue growth for the FMCG sector in the current fiscal year, driven by increased volume and rural demand recovery. The report highlights stable product prices in personal care and home care, while food and beverages face modest raw material cost increases. Rural growth is bolstered by better monsoons and government initiatives, while urban demand remains robust due to rising incomes and premium product preferences
Bajaj Finance can become best pick in financial space amongst largecaps in one or two quarters: Digant Haria
Whatever growth will pick up will probably happen on the infra corporate side. HDFC is not known to be very strong on those sides. So, I do not see that growth and the margin problems will get solved in the immediate quarter and the stock has had a good run up along with the market. So, I think people should celebrate and you have to wait for a few more quarters before the results actually fire up.
Indian IT sector slowly playing catch up; will continue to outperform: Rohit Srivastava
I think a bit of many of these will continue to play a role. IT, for example, globally is doing very-very well. So, I think Indian IT which was beaten down is now going to slowly play catch up with what is happening around the world and in that sense the IT sector also should continue to outperform.
Indian Army propels towards zero-emission by introducing 113 electric buses
The Indian Army has acquired 113 electric buses for troop transportation, aligning with the government's green initiatives. These 40-seater buses, with a range of 250 kilometers, are meant for plains and semi-hilly areas and are in the trial stage. This procurement supports India's zero-carbon emissions directive and highlights the military's commitment to eco-friendly solutions. The initiative reflects India's leadership in sustainable practices and innovation, encouraging other sectors to follow. The Indian Armed Forces are now blending national security with environmental stewardship for a greener future.
Indian software sector earnings will remain modest in Q1: here’s why
Infosys and LTIMindtree are expected to lead a modest increase in average growth for Indian software service providers in the first quarter of FY25. However, previous top performers, Tata Consultancy Services (TCS) and HCLTech, may see pressure on profits and margins as they work to reignite growth.
Nomura turns bullish on Indian IT sector, highlights Infosys, Coforge as top picks
Nomura bullish on Indian IT sector with top picks Infosys and Coforge, upgrades ratings for Wipro and HCL Technologies. Anticipates GenAI adoption boosting cloud services demand.
Sector-wise fundamental analysis of Indian stocks after elections
Investing in quality companies and adopting a long-term SIP approach can maximize benefits in India's growth journey towards a $10 trillion economy through essential infrastructure development.
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