SUJAN HAJRA
Sensex hits fresh all-time high, surges 1,619 points; rate-sensitive stocks surge up to 9% post RBI policy decision
The market capitalisation of all listed companies on BSE surged by Rs 7.38 lakh crore to Rs 423.27 lakh crore. Post RBI policy decision, realty indices surged up to 9.5%, with Sunteck Realty, Sobha, Brigade, and Lodha rising between 3% and 9.5%. Nifty Bank stocks such as Bandhan Bank, SBI, Axis Bank, AU Small Finance Bank, and Kotak Bank rose by 1-2%.
ETMarkets Smart Talk: We like IT, financial services and banking as top sectors for growth in FY25: Sujan Hajra
Sujan Hajra discusses FY25 sectors like consumption, IT, and financial services. Consumption sector expected to rebound due to rising incomes. Financial sector may benefit from economic conditions and regulatory support. Market volatility, small & midcap valuations, gold vs. silver investment, FY25 Indian market outlook, investment sectors, semiconductor sector outlook are highlighted.
ETMarkets Smart Talk- Consumer-oriented industries could produce next set of wealth creators in long term: Sujan Hajra
Equity markets are notoriously volatile in the short term. Trying to predict market levels in the short term is akin to flipping a coin. As a result, I would refrain from attempting to forecast market levels in the near term.
IndusInd, Axis Bank, others rise up to 4% as NIIs set to rise on RBI measures
RBI has linked pricing of loans by all commercial banks for the medium enterprises to an external benchmark, effective April 1.
RBI drastically changed stance on systemic liquidity: Sujan Hajra, Anand Rathi
The RBI has drastically changed its stance on systemic liquidity, and this is the key to this policy, says Sujan Hajra, executive director, Institutional Research, Anand Rathi.
Debt-heavy companies make the most of rate surprises, stocks surge
Adani Enterprises, with a debt of about Rs 72,000 crore as on March 31, 2014, has risen 48% since January 15.
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Positive global outlook on India making it more attractive than other EMs: Sujan Hajra, Anand Rathi
The relative perception about India — particularly from the perspective of political stability and the ability to carry out painful structural reforms — is strong.
Government trying to bring down fiscal deficit in a gradual manner: Sujan Hajra, Anand Rathi
As long as oil is not crossing 120 in a sequential manner, a greater pass-through is quite possible for the government to pursue. So in that sense, it is a permanent reform.
RBI is concentrating on controlling inflation currently: Sujan Hajra
'Achieving the fiscal deficit target is possible, especially with the help from the reducing petroleum subsidy and to some extent on the food subsidy front.'
RBI is reasonably prepared for any eventuality on rupee going ahead: Sujan Hajra, Anand Rathi
"RBI is reasonably prepared for relatively a huge outflow, but my sense is that it will really depend upon what the extent of outflow is."
Expect inflation to soften further over next 9-10 months: Sujan Hajra, Anand Rathi
"Softening of inflation will continue and that is something which is bullish for the rupee, but trajectory of CAD and capital account surplus have much larger bearing."
Expect December WPI inflation to be sub 7%: Sujan Hajra, Anand Rathi
"RBI is entering a neutral zone. It will be difficult for RBI either to hike or cut rate."
Rupee will continue to depreciate over next 6 months: Sujan Hajra
"Trade deficit to be between $10 and $12 bn for the current month and for rest of the fiscal, it will be closer to $12-14 billion."
Expect RBI to focus on price and exchange rate stability in policy: Sujan Hajra, Anand Rathi
Sujan Hajra, Co-Head, Research and Chief Economist, Institutional Equities, Anand Rathi, shares his expectations from the credit policy and the Fed meet, and gives his call on the rupee.
Sub 5% growth during FY14 likely if RBI tightens further: Sujan Hajra, Anand Rathi
'Even if the RBI unwinds these moves, even in a sequenced manner, then the direction of the bond yield should be downwards rather than upwards'
See significant headwinds for rupee for next 12-24 months: Sujan Hajra, Anand Rathi Securities
The concern that the fiscal deficit might spiral out because of the Food Bill remains and that might have some impact on rupee in terms of depreciation.
Increase in Rupee volatility mostly due to global factors: Sujan Hajra, Anand Rathi
"Government and RBI on exchange rate are only concerned about the volatility rather than keeping rupee at a particular level or a particular band."
Rupee recovers from life low of 58.98 after government intervention
But is the worst over? “The reality is all currencies in the emerging market basket are under pressure,” said Hitendra Dave, head-global markets at HSBC.
Expect rupee to be closer to 52 vs dollar in 3 months: Sujan Hajra, Anand Rathi
"While growth is unlikely to pick up very significantly, there is a clear possibility that the inflation will correct more than what the consensus is expecting."
Expect rupee to appreciate as CAD is likely to improve in Q4 FY13: Sujan Hajra, AnandRathi
If you see by the end March, you saw the liquidity adjustment facility, that is the banking sector liquidity, is turning positive, says Sujan Hajra.
Expect rupee to appreciate in near term: Sujan Hajra, Anand Rathi
"RBI Governor is not really giving a signal that he would not do a rate cut, but he is just trying to sensitise that high inflation ultimately is not good for growth."
Expect 75 bps rate cut by June: Sujan Hajra, Anand Rathi
'There is obviously a divergence between the manufactured prices and primary prices and the reason for the divergence between WPI and CPI is also the same.'
Expect fiscal deficit to come in at 5.8% for the year: Sujan Hajra, Anand Rathi
Growth has bottomed out, but any significant improvement from here will be a serious challenge, says Sujan Hajra, Anand Rathi
First rate cut by RBI unlikely before Feb 2013: Sujan Hajra, Anand Rathi
RBI will maintain monetary easing stance, but this will play out more through the liquidity channel rather than through the interest rate channel, says Hajra.
Food inflation may surpass 18% mark on weak monsoon: Anand Rathi
In an interview with ET Now, Sujan Hajra, Co-Head, Research & Chief Economist, Institutional Equities, Anand Rathi, shares his views on the monsoon and inflation. Excerpts:
Expect rupee to be around 48 by March 2013: Sujan Hajra, Anand Rathi Securities
The rupee will be close to 54 by October and 48 by March 13 on significantly lower current account deficit this year than in FY12, Sujan Hajra said.
Deregulation of savings account likely to adversely impact most banks: Sujan Hajra, Chief Economist, Anand Rathi Financial Services
The landmark deregulation of the savings account interest rate in RBI’s October 25 mid-term policy review is likely to adversely impact most banks in terms of earnings, asset-liability balance and valuation multiples.
Vegetable prices push food inflation into red zone
Food price index rose 12.1% for the week ended Dec 11 from a year ago, compared with 9.5% in the previous week as prices rallied for fifth week in a row.
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