PRICING REFORM
8% GDP growth not sustainable yet; bond index inclusion may see short-term volatility: Abheek Barua
After the inclusion in the JP Morgan global bond index, in the short term. we need to prepare for volatility. But in the long term, the collateral and the second-round benefits are huge, says Abheek Barua. He expects this to lead to an improvement in the fixed-income ecosystem, which unfortunately has not taken off that well
Budget should double standard deduction, raise basic exemption to Rs 3.5 lakh under new tax regime: EY
EY recommends significant tax reforms in the upcoming Budget, urging the government to double the standard deduction under the new concessional tax regime to Rs 1 lakh or increase the basic exemption limit to Rs 3.5 lakh. Key suggestions include maintaining corporate tax stability, rationalizing TDS provisions, and improving dispute resolution mechanisms.
What Indian industry wants from Modi's budget after poll setback
The upcoming budget aims to boost consumption, support farmers, create jobs, and reform tax systems. It focuses on tax cuts, lifting export restrictions, job creation incentives, and simplifying tax regimes like capital gains and GST for a stronger economic outlook.
ETMarkets Smart Talk: Reforms to attract FDI, simplification of tax regime & green energy likely in Budget 2024: Gurpreet Sidana
The positive trends in global markets, favourable domestic economic data, and optimism regarding corporate earnings growth have further bolstered market sentiment.
Govt committed to bringing more reforms: Amit Shah
Union Home Minister Amit Shah praised PM Narendra Modi for introducing GST, leading to lower prices of household items. The NDA govt aims to implement more reforms for citizen welfare.
Govt widens composition of drug, medical devices pricing reforms panel
The government has expanded a committee to look into pricing reforms for drugs and medical devices, including civil rights activists like All India Drug Action Network (AIDAN), Patient Safety and Access Initiative of India Foundation, and Medecins Sans Frontieres (MSF). The committee will evaluate availability and pricing of essential medicines, incentivize industry growth and exports, and consider a new Drug (Prices Control) Order (DPCO) as the current one is over a decade old.
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Budget 2024 an opportunity for Nirmala Sitharaman to play some good shots
The Lok Sabha election results in India surprised many as they diverged from the exit polls. The focus now shifts to the Union Budget 2024, setting the economic tone for the future. All eyes will now be on Finance Minister Nirmala Sitharaman.
ETMarkets Smart Talk: Rural consumption could top priority in Modi 3.0’s final Budget in July: Vinay Jaising
The BJP led NDA alliance is confident of forming the government for the third time consecutively which has not happened in India since 1962 when the Nehru led Congress was in Power; and an extremely spectacular event.
Chakri Lokapriya's top midcap stock picks for near term
I think defence, semiconductor, industrial, infra are easy reforms for the current government in the current shape to continue because even the allies, for instance, Naidu is a very reform-oriented person.
Economists expect big-bang reforms to continue under Modi 3.0
Modi is set to be sworn in for third term as India's Prime Minister in coalition government with key partners Telugu Desam Party and Janata Dal (United). Economists anticipate focus on economic reforms to achieve goal of Vikshit Bharat by 2047. Budget to prioritize infrastructure, manufacturing, and welfare schemes amid global economic challenges.
Modi premium for Indian stocks gets a hard look after elections
With the leader now navigating coalition politics after a weaker-than-expected mandate in this week’s national election, the so-called Modi premium is under scrutiny. Investors are looking for proof that Modi can continue his reforms with the same vigor, while balancing the demands of alliance partners and avoiding populist measures to regain public support.
Lok Sabha results googly may unsettle Indian companies unfamiliar with coalition pitch
Post-election, certain Indian businesses face uncertainty after years of stability under Modi's single-party majority. Concerns arise about decision-making and reforms as BJP's weaker mandate shifts dynamics. Industry veterans note silence from typically vocal business leaders, who now await potential changes in the new cabinet amid speculations about Modi's altered work style.
Modi 3.0 has heavy lifting to do on tax reforms to managing stock risks
Economists outline key priorities for India's incoming government, emphasizing the need for growth, job creation, and macro stability. Pronab Sen highlights the importance of sustainable livelihoods, while Pranjul Bhandari suggests that 'easy' reforms could maintain 6.5% growth. However, achieving 70 million jobs requires politically sensitive reforms in agriculture, labor, and land. Additional recommendations include infrastructure investment, judicial reforms, enhancing export competitiveness, and further tax reforms, particularly bringing petroleum and power under GST.
AMCs, insurance stocks offering good money-making proposition: Deven Choksey
I believe that the market is going to remain positive. Investors are going to be remaining confident. Maybe these numbers are going to be forgotten after a couple of days once the ministries and the governments are formed.
Is it prudent to chase FMCG stocks or wait for correction? Gurmeet Chadha answers
The tougher reforms I think might take a bit of a backseat or probably would require more manoeuvring but the normal policy reforms like the price to be given for defence or power solar panels or auto and in general the economic reforms which are more BAU and not really needs coalition dharma will continue.
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.
Expect some degree of volatility till the Budget: Sunil Subramaniam
But I now expect consumption to redress the balance and you will get a far more broad-based recovery, that is number one. Number two is I think that now with the lessons of what happened in this election, we expect the BJP itself to take necessary corrective action since it has got power for the next five years so that the very next election they will be in a position.
Infra sector going to be challenged; time to take a pause: Rupal Bhansali
Ironically, I actually think it is a very healthy development. I know the market reacted quite negatively. Obviously, vis-a-vis expectations, it was certainly an upset loss.
Macro policy choices unclear, but work cut out on reforms agenda
In FY24, nominal GDP grew 9.6%, CPI inflation recorded 5.4%, and real GDP growth was estimated at 8.2%.
Market will wait for policy recalibration before taking a portfolio call: Nilesh Shah
One policy recalibration which probably will happen is that there will be more support to consumption at the bottom end of the pyramid and for mass market product. Now, with that kind of policy recalibration, markets will then adjust to a new level and try to build scenario.
FMCG, healthcare stocks defy markets with spirited fight back, gain up to 4%
As Sensex and Nifty tanked nearly 4% on Tuesday in the wake of early poll trends, FMCG and healthcare sectors held strong, with Nifty FMCG, Nifty Pharma performing well. Dabur India, Colgate Palmolive, and Marico were top gainers.
Government slashes domestic natural gas prices amid major pricing overhaul
The Ministry of Oil lowered domestic natural gas price to USD 8.44 per mmBtu for June 2024, following a new pricing mechanism. This adjustment aims to stabilize the market and meet energy targets, benefiting consumers and producers alike.
We are poised to open a minimum of 25 hotels this year: Puneet Chhatwal, IHCL
I think as things are beginning to normalise, this global travel will also start coming back. And as of this October, we should see us getting close to the pre-COVID level. And it is only next year that India will cross the international arrival numbers that it had prior to COVID.
Hemang Jani's top stock bet from pharma sector
But nonetheless, I think even when it has not performed so much, I think if somebody has to put fresh money, I think it surely makes a lot of sense given the performance, valuation comfort, I do not see much of a challenge over there. And recently, the fact bond yields went down when you had that big dividend payout, I think there was a bit of an outperformance. So, I think you could look for some more outperformance at least over the next 6 to 12 months.
Can Vodafone Idea stock trade above Rs 20 in next one year? Hemang Jani answers
I think there is a growth in terms of volume, given the kind of appetite that people have for jewellery and also, we feel that you will see stable margins once there is a little bit of stability in the gold prices. So, valuations, I do not think is too much of an issue. It is all about how big the opportunities and how Titan can deliver growth. We have a positive view. I think it is a part of the core portfolio.
What should investors do with RIL and ITC? Amnish Aggarwal answers
Elections is a very important event and we are now just I think three trading days away from it. We had issued a note to our clients in which we had identified a few sectors and the scripts which would be doing well irrespective of the outcome of elections.
If Modi wins India's mammoth Lok Sabha elections, his third regime will need tough reforms to lure foreign firms
Lok Sabha Elections: As Modi gears up for a potential third term, global firms highlight challenges facing India's economy: policy inconsistencies, bureaucratic delays, and scarcity of land. Despite improved business sentiment, actual investment remains stagnant, with foreign direct investment dropping. Key priorities for the new government include policy coordination among states, labor law implementation, skills development, land reform, trade measures, and fulfilling BJP's promises for economic growth and global manufacturing hub status.
India will continue to be a 'buy on dips' market: N Jayakumar
My own assessment is that, especially even as investors, the local investors have now got a higher percentage of company holdings than foreigners. To my mind the big takeaway of the last five years. has been the pre-eminence of the Indian retail investor, unspoken, unsung, unknown investor through SIPs and through his investments and largely through mutual funds has remained an increasingly important constituent of the markets.
India in one of the best wealth creation and earning growth cycle for next 8-10 years: Vikas Khemani
Of course, if an outcome where this current government is not able to form the government, then I think there will be serious questioning about the pace of the reforms and potential disruption of the growth, all those things, so I think that is the one thing that one has to very clearly keep in mind.
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