SHARP UPTICK IN GDP
Post-poll sector opportunities: Infra can play out but there is a catch
At present the macro outlook of India is positive with the GDP numbers going steady, fiscal deficit going down, and growth in tax collections, there is nothing for investors to worry about at the moment.
India's manufacturing sector still strong even as PMI eases from a 16-year high in April
In April, India's manufacturing sector saw a slight slowdown, yet remained strong due to high demand, revealed by a private business survey. This surge in demand drove companies to increase raw material procurement nearly to record levels. The HSBC final India Manufacturing Purchasing Managers' Index dipped to 58.8 from March's 16-year high of 59.1.
ICRA projects GDP growth to moderate to below 6% in Q3
Rating agency ICRA has predicted a slowdown in India's GDP growth rate to below 6 percent in the December quarter. This is primarily attributed to a sharp decline in kharif crop output and sluggish progress in rabi sowing for some crops. In the July to September period, India recorded a GDP growth rate of 7.6 percent.
Infra spending, good performance by large economies push sharp uptick in GDP in H1FY24: Raghuram Rajan
India retained the tag of the world's fastest-growing major economy, with its GDP expanding by a faster-than-expected rate of 7.6 per cent in the July-September quarter on booster shots from government spending and manufacturing. At constant (2011-12) prices in April-September 2023-24 (H1 2023-24), GDP is estimated at Rs 82.11 lakh crore as against Rs 76.22 lakh crore during the corresponding period of the previous year, showing a growth of 7.7 per cent in H1 2023-24 as against 9.5 per cent in H1 2022-23.
Strong US GDP data drives rupee to a fresh low
The rupee closed at 83.3938/$1 a new record closing low. The domestic currency, which has depreciated by 0.8% against the US dollar on a closing basis so far in 2023, had closed at 83.3262/$1 on Wednesday.
GDP numbers suggest private capex gaining steam, say experts
India's GDP growth in the September quarter of the fiscal year reached 7.6%, making it the fastest-growing large economy. The rebound was driven by a strong performance in the manufacturing, mining, and services sectors. The Gross Value Added (GVA) in the manufacturing sector saw a growth of 13.9%, indicating a significant increase in production to meet pent-up demand before the festivals.
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CEA Nageswaran hints at upward revision of FY24 GDP estimate after big Q2 surprise
After Q2 GDP growth figures exceeded expectations, Chief Economic Advisor V. Anantha Nageswaran suggested that given the present trajectory India might be underestimating rather than overestimating its GDP growth projections. The government has set a GDP growth target of 6.5% for the fiscal year 2024. The economy recorded a growth of 7.6% in the September quarter, surpassing the 6.8% forecast by economists in a Reuters poll. Nevertheless, this growth rate was lower than the 7.8% expansion witnessed in the preceding quarter.
India's Q2 GDP growth slows to 7.6%, yet trumps analyst expectations
A median poll of 10 economists by the ET had showed the economy clocking growth figures of 6.7%, 20 basis points more than that of the RBI estimate for the quarter. A Reuters poll of economists estimated India's GDP growth at 6.8% in the July-September period, easing from the previous quarter's 7.8%.
Correction is not a worry, but a bubble in small caps could be: Rahul Singh, Tata Asset Management
"Nobody really factors it in, and when the correction finally happens, everyone asks the same questions that they should not be asking if they had invested in small caps. There are some things that are in our hands, and some that are not. "
India’s economic growth rises to a four-quarter high of 7.8% in Q1
“Rural demand is on a recovery mode and government’s sustained capital expenditure push is crowding in private investments,” said chief economic advisor, V Anantha Nageswaran, on Friday post the data release. While experts point out that growth is likely to slowdown in the coming quarters as the base effect wanes, they indicated that a consumption boost closer to the end of third quarter may provide some succour to full year growth.
Economists unpack RBI MPC's policy decisions, echo inflation worries
The Reserve Bank of India's (RBI) rate setting panel has kept the repo rate and GDP growth forecast unchanged at 6.5%, according to RBI Governor Shaktikanta Das. The MPC decided to remain watchful and evaluate the situation, the governor added. The rate-setting panel unanimously opted to hold the key lending rate steady, which was in line with analysts' expectations.
Indian economy is on a strong footing: Siddhartha Khemka
Overall we have been positive. We have recently upgraded Godrej Properties, we feel that the valuations are comfortable. We continue to like Macro Developers which is a large player in the Mumbai region, continues to do well and we see strong growth there. So these two are, you can say, our preferred picks within the overall real estate space.
India's tractor sales could touch a record 900,000 units this fiscal year. Here's why
This shift from bullock to tractor happened at a time when the population of male cattle fell to 47.4 million in the 2019 livestock census, a drop of 30 per cent from the previous census of 2012.
Did you use the market uptick to correct your regrets? This is what Kunj Bansal did
“In the auto and auto ancillary space, one of the stocks in my portfolio is Sona BLW. It has not done anything in the last one-and-a-half months of its bull run. It has underperformed and probably has gone down also. I do not exactly remember the number. At the same time, I added IDFC First Bank which came out with very good numbers after the June quarter.”
India to grow at 7.5% in FY23 on strong investment, to rise to 8% next fiscal: ADB
Asian Development Bank Outlook 2022 said that India's growth in the next fiscal year 2023-24 will accelerate further to 8 per cent, though China will witness a deceleration in growth to 4.8 per cent in 2023.
View: India's management of the inflationary risks has been better than other countries
Factors from shipping container crises to global crude oil inflation have been responsible for global price increases. This 'international inflation' inevitably translates into domestic inflation since India is highly linked with the global economy and relies on global value chains for its economic activities.
Rapid Covid vaccination drive navigates India's economy towards swift revival from global pandemic aftershocks
Amidst the easing of regional mobility curbs and the emergence of growth impulses, the industry is gaining lost ground, with the Index of Industrial Production (IIP) witnessing a broad-based Year on Year (YoY) growth of 11.5 % in July 2021, led by growth in capital goods and consumer durables.
Any dip in market next week may see retail investors swoop in
“We haven’t seen even a 5-10 per cent correction for quite some time now. So that could be on the cards in the next few months,” Andrew Holland, chief executive officer at Avendus Capital Public Markets Alternate Strategies told ETNow earlier this week.
Weak dollar, quick growth recovery to help stocks continue gains next week
On the sectoral front, consumer-facing sectors like FMCG, retail and aviation are expected to do well as Indians venture out more amid relaxing of restrictions by most state governments.
View: Read past the statistical pop when looking at the massive surge in Q1 GDP growth
First-quarter GDP data, due Tuesday, is also likely to show double-digit growth. That will mark the fastest growth the Indian economy has seen in any quarter to date.
A ray of sunshine: Solar industry gets fresh push from PLI scheme
The solar power tariffs continue to hit new lows in the reverse bids conducted and have been on steady decline. This has put pressure on reducing the setup and production cost.
US Q3 GDP estimate gets a slight upgrade to 33.4% growth
Consumer spending surged at an annual rate of 41% and private investment shot up by 86.3% to lead the third-quarter rebound.
India's quarterly GDP contraction to end in December quarter: NCAER
The think tank pared its forecast of gross domestic product (GDP) growth during the ongoing fiscal to -7.3% compared to -12.6% in September to account for the “welcome surprise” of a sharp moderation in contraction in the second quarter at -7.5%, according to its mid-year review of the economy, presented virtually on Monday.
India's FY21 GDP estimates cut sharply after Q1 numbers, Goldman predicts deepest 14.8% contraction
Both Fitch and Goldman Sachs have forecast a sharp bounce-back for India in FY22 but attributed this to the lower base of the current fiscal year. Fitch’s estimate for India was in contrast with its marginally improved projection for the global economy in 2020.
Already battered by Covid, local shutdowns have triggered a new round of GDP downgrades
While rating agencies ICRA and CARE Ratings have lowered their expectations further, others such as HDFC Bank and State Bank of India Research are in the process of revising their estimates. ICRA changed its 5% contraction estimate to 9.5% and CARE to 6.4% from 1.3% shrinkage earlier.
Current account deficit seen at 1.2-1.3 per cent of GDP in FY18: Icra
In general terms, CAD refers to the difference between inflow and outflow of foreign exchange that has a bearing on exchange rate.
Nifty50 hits fresh 52-week high; five factors driving the rally in stocks
Telecom stocks led the rally on D-Street after Airtel said it has entered into an agreement with Telenor South Asia Investments to acquire Telenor India.
ETMarkets Survey: D-Street awaits growth booster to earnings from Q4 onwards
While analysts were painting a rosy picture around this time last year, hope of pickup in earnings has just shifted to the second half of the financial year.
Eight stocks to sail through ups and downs of market till Budget 2016
While the stock market had a good start this morning, it is likely to remain range-bound at least until the Budget.
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