POLITICAL CONTINUITY
Corporate France braces for new era of political turmoil
France's business elite is concerned about political volatility, street protests, and potential bankruptcies as the country heads into a parliamentary election. Executives meeting in Provence fear the far right and left may undo President Macron's pro-business reforms. The rise of inexperienced leaders and uncertain economic outlook are adding to their anxiety.
How is Biden’s team reacting to the political development? Biden under pressure to step down
A report has claimed that officials in the White House are worried and under pressure after Biden’s health concerns have been brought to the forefront. There are calls for his ouster and this has left his team confused and directionless.
Iran's Pezeshkian brings hopes of moderation after routing hardline rival
Iran's newly elected president, moderate Masoud Pezeshkian, aims to ease social restrictions and adopt a pragmatic foreign policy. Pezeshkian, who defeated hardliner Saeed Jalili, is seen as a hopeful figure for peaceful nuclear negotiations and social liberalization. Despite limited power under Supreme Leader Khamenei, Pezeshkian pledges economic revival and increased social freedoms. His victory, supported by the reformist camp, contrasts with the policies of former hardline president Ebrahim Raisi, offering a new direction for Iran's political landscape.
Telangana: Six BRS MLCs join Congress
Several legislators from the Bharat Rashtra Samiti (BRS) in Telangana have continued to defect to the Congress party. Recently, six sitting members of the Legislative Council joined the Congress, with Chief Minister Revanth Reddy present at the official ceremony. The new Congress members include Dande Vital, Bhanuprasad Rao, MS Prabhakar, Boggaparu Dayanand, and Egge Mallesham. AICC Telangana in-charge Deepa Munshi and state minister Ponguleti Srinivas Reddy also attended the joining event.
Britain’s economy isn’t seeing growth anywhere near India’s 7% GDP rise — this has caused fewer differences between the Conservatives and Labour: Jaideep Prabhu
The UK election landscape is marked by economic uncertainties post-Brexit, minimal policy distinctions between parties, and environmental concerns driving voter engagement. Influential figures like Farage, Johnson, and Sunak shape political narratives, while climate change discussions underscore the urgency for sustainable solutions amidst global warming threats.
Path towards structural reforms and fiscal prudence will continue in Budget 2024: Navneet Munot
Markets are at a new high. It is definitely a cause of celebration. It reflects India's macroeconomic fundamentals. It reflects that India has got political stability, macroeconomic stability, financial stability. There is tremendous faith on the government's policy continuity.
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PM Modi offers water to Congress MPs shouting 'taanashahi nahi chalegi' in Lok Sabha: Watch viral video
In a dramatic session on Tuesday, the Lok Sabha witnessed chaotic scenes as Prime Minister Narendra Modi faced vehement protests from the Opposition while addressing the Motion of Thanks to the President's address. MPs from various parties crowded the well of the House, demanding more speaking time and creating a tumultuous atmosphere. Despite the disruptions, PM Modi made a notable gesture by offering a glass of water to an Opposition MP, captured in a viral video that sparked widespread attention and debate on social media.
Fiscal discipline key to India's growth prospects: Sanjay Nayar
So, we will have to also think about how we channel the energies towards more advanced and more modern techniques and technology, because that is what we need right now.
In 10 years, India no longer a charity case, it's the driving force of world economy: Sanjeev Sanyal
There are no such things as poor people. They are poor places. Say two brothers grew up in Moradabad. One of them stays back in Moradabad and another went off to Dubai. After five years, one person will be earning a lot more than the other. Why does this happen? It is because places matter, says Sanjeev Sanyal
NDA's Maha poor Lok Sabha show: NCP hits back at BJP for blaming Ajit Pawar; warns of taking 'different stand' on alliance
The blame game between BJP and NCP has escalated in Maharashtra after BJP members blamed Ajit Pawar's NCP alliance for their poor Lok Sabha election results. NCP leaders, including Amol Mitkari and Rupali Patil, have strongly refuted these claims, warning of reconsidering their alliance if the targeting continues. They criticized BJP's leaders for making divisive statements, suggesting it led to electoral setbacks rather than Ajit Pawar's influence.
"Not the time for politics," says Ashwini Vaishnaw as rescue efforts continue after Kanchenjunga Express train accident
The tragic incident took place near Rangapani station, about 30 kilometers from North Bengal's New Jalpaiguri station. Early Monday morning, a goods train collided with the Sealdah-bound Kanchenjunga Express from the rear, causing three of the express train's rear compartments to derail. According to railway officials, the collision resulted in at least 15 fatalities and around 60 injuries.
See policy continuity even with coalition government: Gokul Laroia, CEO, Morgan Stanley Asia
Morgan Stanley's Asia CEO Gokul Laroia discussed Indian elections, markets, and risks with Nishanth Vasudevan before an investor conference.
How will Sensex perform 1 month after election results? Here’s what past suggests
Equity markets react negatively to Lok Sabha election results, but bounce back post 5 days and 1 month. Past data shows Sensex stabilizing and gaining after elections, with small and midcaps outperforming large caps. Benchmark returns stabilize post general elections regardless of counting day performance. JM Financial notes positive market returns on sectoral basis 6 months post results.
India Inc cheers continuity at the Centre, but rues fragility
Indian industry leaders express confidence in the economy's resilience despite the NDA-BJP government's unexpected outcome without an absolute majority. They anticipate policy continuity but caution about potential hurdles due to a stronger opposition and diverse political ideologies. The focus may shift to consumption, welfare schemes, and rural sectors. Stability is crucial for reforms, but the BJP's shortfall could complicate passing contentious reforms. However, the economy's growth agenda is expected to continue, with an emphasis on inclusivity and job creation.
Nitish Kumar and Tejashwi Yadav's flight encounter amidst post-election political maneuvering
The aftermath of the 2024 Lok Sabha elections sees Nitish Kumar and Tejashwi Yadav, political rivals, sharing a flight to Delhi, sparking speculation about their discussions. Both the NDA and INDIA alliances are holding crucial meetings in Delhi, with Prime Minister Narendra Modi likely to take the oath for his third term on Saturday.
Past reforms will continue to drive economy over next 2 years: Neelkanth Mishra
In fact, with the RBI dividend being significantly better than what was budgeted, I would not be surprised if in the July budget, the government chooses to bring down its FY25 fiscal deficit target from 5.1% to 4.9% because that money is there.
Startups seek support, policy continuity from new govt
As of 6.30 pm, data from Election Commission showed the incumbent BJP leading with 241 seats, opposition Congress with 98 seats -- leaving both parties short of the 272 Lok Sabha seats needed to form a government and increasing the chances of a coalition.
Banks should still do quite well in long term: Prashant Jain
I think the markets have moved beyond that phase where they used to differentiate between PSUs and private. So, I think businesses are now getting discounted or they are trading as per the underlying fundamentals which I think is very good. So, I think while we still talk in terms of PSUs, non-PSUs, but markets are not differentiating between public and private enterprises anymore.
Election results and stock markets: If history can predict the future
India awaits the Lok Sabha election results with anticipation, largely expecting a win for the Modi-led NDA alliance. Analysts foresee policy continuity and market stability if expectations materialize, but unexpected outcomes could trigger short-term market volatility. Regardless, experts suggest viewing any market dips as buying opportunities.
Result day today, keep your shirt on
Stockbrokers advise clients to keep extra margins for trading on election results day amidst rising volatility index, exceeding exchange limits, and cautioning investors to heed advice. Markets react to GDP data and upcoming central bank review. Incoming government's monetary and fiscal policies will impact market. Budget and policy continuity influence systematic investment.
Thematic focus on infra, renewables and real estate likely to continue: Harsh Gupta Madhusudan
Chinese valuations are roughly half of India's, but Chinese earnings growth is also significantly lower. The China trade is more tactical and opportunistic.
Exit Polls: Top D-Street voices echo continuation of policy reform in Modi 3.0
Exit polls indicate a clear advantage for the BJP-led NDA faction. Experts foresee a continuation of reform policies in PM Modi's third term.
Election outcomes won't disrupt India's economic stability: Saurabh Mukherjea
There will probably be governance continuity as well, but almost certainly there will be policy continuity and hence, my point of view to the foreign investors is, beyond a point, you should not overemphasise the elections.
What investors expect from India's election outcome
India's six-week long national election, the world's largest, is nearing its conclusion with the final vote count on June 4. Investors are anticipating Prime Minister Narendra Modi's expected third term in office.
Rupee gains by most in 5 months on stocks, RBI dividend
The rupee rose as much as 0.3% to 83.03 against the dollar on Friday, the most since December 15, as markets reopened after being shut on Thursday.
Big IPOs seen making a comeback as stock boom continues
A flurry of small deals has made India one of Asia’s busiest IPO markets this year. Bigger share sales brighten the nation’s chances of attracting global funds as investors rotate money amid a patchy recovery in China.
Fund Manager Talk: Why Mahesh Patil isn’t the one to time election outcome
The March quarter has seen a slowdown in the topline growth across sectors as the nominal growth has moderated on the high base of last year and cooling off of inflation.
ETMarkets Fund Manager Talk: Valuation of PSU stocks isn't as attractive, says Franklin Templeton’s Akhil Kalluri
Akhil Kalluri, VP at Franklin Templeton, discusses PSU stocks, retail liquidity impact, and broader market valuation risks. He also comments on tech stocks, consumption names, and industrial sectors' performance in the March quarter. Kalluri points out that the aggregate topline & EBITDA growth for Nifty 50 names in 4QFY24 so far are relatively muted, in high single digits.
ETMarkets Smart Talk: Focus on green energy to lead to multi-billion dollar enterprises over next decade: Jyoti Vaswani
Jyoti Vaswani discusses the potential of multi-billion dollar enterprises in the green energy space and its impact on equity markets. She provides insights on the US Fed moves, RBI, inflation, Q4 earnings, management commentary, Nifty performance as well as May trends. Vaswani says that since FY24 has seen a broad-based rally, FY 25 can be expected to be driven by sustained corporate earnings growth and policy continuity.
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