SECTORAL SPILLOVER
Wait for earnings and Budget to identify attractive sectors for investment: Deepak Shenoy
These companies are quite cyclical, moving between downturns and upturns. Recently, there has been an upturn for Muthoot and Manappuram, partly because IIFL, a major player in the gold financing space, faced some RBI action leading to a slowdown in its gold lending portfolio.
Financial sector strong but RBI watchful of emerging risks, says RBI Governor Das
RBI's financial stability report underscores the importance of governance, Basel III norms compliance, and maintaining high CET1 ratios for banks. Monitoring GNPA ratios of public, private, and foreign banks essential for financial system stability and resilience.
General elections 2024: A weaker mandate to impel policy reset
The underwhelming election results reflect voters' focus on economic and livelihood issues over free-food distribution. The need for productive employment is becoming a dominant necessity in policy considerations.
The unexpected boon for the otherwise boring industrial products from AI boom
Stocks in the utility space are no longer the sedate ones that are reserved for defensive investors seeking steady returns. They have now caught the fancy of momentum investors and traders. With the successful spinning of the AI story to the power and industrial stocks, they have become the most trending ones that are vying for the top spot, albeit behind tech stocks.
Govt may lower fiscal deficit target below 5.1 pc for FY25
For previous financial year ended March 2024, the fiscal deficit was better at 5.6 per cent of the GDP as against estimates of 5.8 per cent accounted in the interim Budget presented on February 1.
Indian economy is on a firm footing: RBI annual report
The Reserve Bank of India's annual report highlights the Indian economy's firm footing, driven by improved external sector sustainability and robust corporate balance sheets. It projects 7% GDP growth for 2024-25, supported by strong macroeconomic fundamentals, production-linked incentive schemes, and an expected above-normal monsoon, despite global uncertainties and challenges.
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Why does India have the first mover advantage in Web3 technology?
While regulatory clarity remains a work in progress, India's embrace of the Financial Intelligence Unit (FIU) registration requirement is a positive step, creating a safer trading environment for all.
ETMarkets Fund Manager Talk: This fund manager sees investment opportunities in 6 sectors during a rate-cut cycle
Siddharth Vora says: "Within this broader landscape, while Indian equities do reflect steeper valuations, they continue to be supported by robust domestic macros and fundamentals. Despite indications of elevated valuations based on various fundamental and technical metrics, historical trends suggest that premium valuations and euphoric sentiment in markets can persist for 3-6 months on an average before normalizing."
Glaxo and Linde India are Aditya Arora 2 top stock picks. Here’s why
“For one week or so, probably the market could be range-bound or and there is scope for some profit booking at this point. So, I am not very bullish, although the trend is going up but with less momentum. So there is some scope for profit booking. I do not see a lot of upside at this moment. I would be a little neutral at this point in time.”
ETMarkets Smart Talk: Real estate sector is witnessing a multi-year cycle: Dr. Poonam Tandon
"We believe the long-term capex story remains intact as we are seeing a massive shift in the capex cycle benefiting from the China plus strategy. For us the domestic capex story remains intact and consumers and corporate sentiments are resilient with a steady macro regime post-COVID, but we do not rule out the volatility as the hardening of USD and crude oil prices could pose a challenge in the interim."
Samvat 2080: Stock pickers focus on consistent winners of last 10 years
Among major sectoral indices, BSE Bankex, BSE Energy and BSE FMCG are three indices that have given positive returns in 9 out of 10 last Samvat years.
No big bang private sector capex for next few years: Icra
Private sector capital expenditure in India is expected to be measured and not excessively exuberant in the next few years due to global headwinds affecting domestic activity, according to ratings agency Icra.
Rupee closes at new low on Gaza spillover, crude flare-up worries
The rupee settled at 83.28 per US dollar, a fresh closing low. The closing level was the same as the intraday low on Monday, just shy of the all-time intraday low of 83.29, a level seen in October 2022. On Friday, the rupee had closed at 83.26. In 2023, the rupee has shed 0.7% versus the dollar.
IMF says private sector needs to shoulder most of climate investment burden
The International Monetary Fund (IMF) has stated that the majority of the $2 trillion in annual climate investments needed by developing countries by 2030 will have to come from the private sector. Governments risk accumulating high debts if they attempt to reach net-zero goals using public funds. The IMF recommends that countries develop carbon pricing schemes to raise revenue and encourage private investments.
Core sector growth rises to a 14-month high of 12.1% in August
Economists say that the strength in the index of eight core industries, which constitutes 40% of the index of industrial production, is likely to translate into stellar IIP growth in August.
India to become USD 5 trillion economy, third-largest by 2027: RBI DG Patra
The IMF's Regional Economic Outlook for Asia and the Pacific indicates that this region will contribute about two-thirds of global growth in 2023 itself and India will account for a sixth of world output growth in 2023 and 2024, he said. In terms of market exchange rates, he said India is the fifth-largest economy in the world and the third-largest economy on the basis of purchasing power parity.
Services sector support to manufacturing & agriculture may drive growth and create jobs
"India needs to create a whopping 70 million new jobs in the next decade. At the heart of this challenge is invigorating India's manufacturing sector, which has been rather sluggish in the last few decades," HSBC economists said in the research note, pointing out that services could help such companies achieve growth.
Services could be India’s growth driver, help generate 70mn jobs over next decade: HSBC Global Research
India's services sector has the potential to drive growth and job creation in other sectors like manufacturing and agriculture, according to a report by HSBC Global Research. The report suggests that services companies can help smaller manufacturing firms achieve scale by leveraging digital infrastructure and accessing formal credit, cheaper raw materials, and better logistics. HSBC also expressed confidence in India's ability to increase services sector exports, citing its movement up the value chain and the expansion of multinational corporations in the country. However, the report emphasized the need to support labor-intensive sectors to create enough jobs.
China's Country Garden dodges another default in relief for property sector
China's largest private property developer failed to pay coupons on the bonds totalling $22.5 million due on Aug. 6, exacerbating fears over how much cash it has left and keeping markets on tenterhooks throughout the bonds' 30-day grace periods.
Private sector capex has taken off, says Finance Minister Nirmala Sitharaman
India's private sector is beginning to invest, according to Finance Minister Nirmala Sitharaman. She expressed confidence that the country's economy will perform well in the coming quarters and that India will be able to handle the effects of high US interest rates. Sitharaman also stated that Prime Minister Narendra Modi will win re-election in 2024, as the government has delivered on its promises.
Goldman cuts target for Asian equities, sees earnings ease on China growth fears
The Wall Street bank cut its target for MSCI's index of Asia Pacific shares ex-Japan to 555 points from 580. It expects the index's earnings growth to contract by 2% by year-end, from no growth expected earlier.
View: Banking sector recovery has given leg up to GDP growth
A good starting point for understanding the contemporary banking landscape in India is the policy response to the global financial crisis (GFC). Rightly anticipating the spillover effects of the GFC, the Indian policymakers announced several counter-cyclical measures starting in August 2008.
Retail, consumer sector saw 55% decline in deal volumes during January-March 2023: Grant Thornton Bharat
Even compared to the sequential October-December quarter, the first three months of 2023 calendar year recorded a 24% decline in deal volumes while values dropped by 35% on back of absence of big-ticket investment and non-disclosure of around 75% of M&A deals. In fact, about 63 deals came from the e-commerce segment in Q1 2023.
What happens in the banking sector won’t stay there
This has played out recently with the sudden collapse of Silicon Valley Bank, the forced sale of Credit Suisse to UBS and the instability at First Republic Bank. Reacting to the news, US depositors have reallocated part of their funds away from smaller banks and into the largest banks deemed too big to fail, money market funds and even crypto assets such as Bitcoin.
Adani group crisis may not have significant financial spillover risks: S&P
However, he added the risk premium to certain Indian companies and those within the Adani umbrella may rise and if banks have governance concerns, they put in more due diligence which may result in delay in sanctioning credit.
RBI Governor Shaktikanta Das asks Indian banks to be vigilant about evolving macroeconomic situation, take steps to minimise risks
Reserve Bank of India Governor Shaktikanta Das also acknowledged the crucial role played by the commercial banks in supporting the economic growth throughout the turbulent times since the outbreak of pandemic and the ongoing financial market turmoil. The governor also said that the Indian banking sector has remained resilient and continued to improve in various performance parameters.
Jio trumps Airtel, Vi on RMS front in Q1FY23 as it gains from spillover effect of last tariff hike: ICICI Securities
Jio is the sole telco to report a gain in its AGR (including NLD) market share, commonly known as RMS, which rose 6 basis points (bps) sequentially, rising to 40.9% in the June quarter.
Commodities market volatility sparks spillover concerns
Prices for Brent crude are up more than 30% since the invasion began, while nickel prices doubled on Tuesday – a move that appeared to have been exacerbated by a Chinese firm covering bets against the metal and reducing its exposure to costly margin calls.
RBI warns of spillover effects on banks and NBFCs in its policy review
Das stressed that banks need to fortify governance standards and build capital buffers as the financial system navigates its way through the pandemic.
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