US MANUFACTURING SECTOR
Economy on strong wicket after fiscal first quarter
India's economy showed strong first-quarter performance with surging manufacturing activity, robust GST collections, and record-high Sensex, alongside a rise in passenger car sales and new export orders from overseas markets, as highlighted by industry experts and economic indicators.
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.
Big Boost to Rudra and Prachand helicopters: Adani Defence and Thales Group to manufacture 70mm rockets in India
Adani Defence & Aerospace has partnered with Thales Group to produce 70mm rockets in India, supporting the "Make in India" initiative. This collaboration aims to enhance India's defence capabilities with locally produced rockets for HAL Rudra and Prachand helicopters, while also boosting the country's defence manufacturing sector and creating employment opportunities.
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
US manufacturing production surges 0.9% in May; beats monthly expectations
In May, production at U.S. factories rebounded more than anticipated, recovering from declines in the previous two months. However, sustained momentum is unlikely due to rising interest rates and weakening demand for goods. According to the Federal Reserve's report on Tuesday, manufacturing output surged by 0.9% last month, following a downward revision showing a 0.4% decline in April.
How will FMCG, IT and realty sector perform going ahead? Mayuresh Joshi answers
Our own take at Marketsmith India is that the reform processes which have continued for 10 years, there would not be any significant change in terms of capital allocation for a whole host of schemes that the Modi government has embarked upon. Infra development and infra allocations are expected to double over the next five years.
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Credit growth in India healthy; deflation risks persist in China: Chetan Ahya
But the challenge we feel is that the structural issue of slowdown in demand because of property sector is still exerting deflationary pressures and in that environment as they are trying to support real growth with more manufacturing investments, it is resulting into excess capacities and continuing to have that inflation in a weaker trajectory.
Utpal Sheth on key megatrends that can shape India's future growth
“Even one megatrend will create multiple types of opportunities, multiple types of companies and business models that you will be able to participate in. I think the way the financial savings in the country will get channelised will be another megatrend,” says the CEO of Rare Enterprises.
Manufacturing theme offers a diversified portfolio. Anthony Heredia explains how
We believe the Production Linked incentive (PLI) along with the need for global corporates to de-risk their China play offers a secular opportunity that is likely to pan out over the next 3-5-7 years. Government is also monitoring the PLI implementation, making necessary changes if needed to resolve any problem areas as well as adding more products covered under PLI.
Wall Street stocks end slightly higher as weak jobs data supports rate cut
U.S. stocks rose on Tuesday as labor market data hinted at a Fed rate cut. Axos Financial dropped after Hindenburg Research shorted the stock.
FDI fall seen across India, not just Karnataka, says industries minister Patil
State's industries minister MB Patil highlighted the decline in FDI in Karnataka and the entire country due to global factors and flawed policies of the Centre, with FDI decreasing from US $71 billion to US $70 billion in 2023-24.
US factory activity slips for a second month in May, ISM says
US manufacturing activity slowed in May with new goods orders dropping significantly. Input inflation fell from mid-2022 highs.
Commodities as a sector will get re-rated globally: Sandeep Tandon
So far, we have seen power I think the continuity of that space will continue. Anything related to storage aspect on the energy you are talking about and maybe a lot of speculation is going on, the taxation related changes coming, GST will be part of these things.
Energy, manufacturing & infra to remain bedrock of India's bull market: Nilesh Shah
It is very likely that these very sectors are going to basically get a fresh impetus. You are right that yes, in term one, these pockets did not yield returns. But in the second term, especially post COVID, we have seen massive returns and I probably think that is only the start, be it defence, be it space, be it many of the other areas.
Asian factory activity expands in May on robust global demand
Manufacturing activity in Asia showed growth in May according to private surveys released on Monday, fueled by increasing global demand. This development adds to optimism for a continued economic recovery in the region, particularly with China displaying initial signs of resurgence.
View: Whichever way you cut it, the economy’s booming and is a welcome gift for the incoming government
The Indian economy is booming with a GDP growth of 8.2% for 2023-24, surpassing estimates. The National Statistics Office data highlights this growth despite challenges in sectors like manufacturing and agriculture.
Why imports from China are rising despite atmanirbhar Bharat initiatives
Imports from China is something India should monitor. But in some ways, this might be the way for the country to become a self-reliant economy.
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.
India's fast economic growth lays firm ground for next government
India's economy grew at a faster-than-expected 7.8% year-on-year in the first three months of 2024, driven by strong performance in the manufacturing sector. This growth pace is expected to support Prime Minister Narendra Modi's economic record, who is hoping to win a rare third term in the national election. The Reserve Bank of India's record surplus transfer of 2.11 trillion rupees ($25.3 billion) will help the next government increase state spending to boost growth.
How China pulled so far ahead on industrial policy
The problem for the West, though, is that China's industrial dominance is underpinned by decades of experience using the power of a one-party state to pull all the levers of government and banking, while encouraging frenetic competition among private companies.
How China pulled so far ahead on industrial policy
The problem for the West, though, is that China's industrial dominance is underpinned by decades of experience using the power of a one-party state to pull all the levers of government and banking, while encouraging frenetic competition among private companies.
Not booking any profits now; more money coming in which have to be put to work: Mark Mobius
Mark Mobius says not booking any profits because they have more money coming in and they have to put it to work. ans that is not a problem because the markets are very deep now and we can see lots of opportunity, not only in India, but in other parts of the world.
Growth momentum likely to stay in Q1FY25: FinMin
The finance ministry's April report predicts strong economic activity in FY25, with rising industrial activity and fixed investments. Positive macro-economic indicators include a bright manufacturing outlook and improved services sector, supported by increased capacity utilization and EPFO data.
Why Mark Mobius will be looking at largecaps going forward
Mark Mobius discusses the potential of largecaps in India, particularly in the infrastructure and power sectors. He highlights NHPC's entry into hydropower and emphasizes global growth opportunities, while addressing the valuations of public sector entities. Mobius suggests one should keep some cash on the side in the event of a correction where you can buy at much lower prices.
India needs to focus on manufacturing, achieve greater sophistication: Nirmala Sitharaman to Indian Inc
Finance Minister Nirmala Sitharaman flagged the need for India to boost its manufacturing sector to achieve self-reliance and increase its share in the global value chain. She highlighted the importance of policy support and sophistication in product manufacturing to attract investment and reduce dependence on China. The minister also discussed the success of the PLI scheme in sectors like telecom and electronics, showcasing India's potential for growth and investment.
US industrial production weaker than expected in April
US factory output remained unchanged in April, disappointing analysts who had anticipated a third consecutive monthly increase, as per Federal Reserve data released on Thursday. Industrial production showed no growth last month, down from a revised 0.1 percent rise in March. This data contradicts expectations of a gradual manufacturing sector recovery. Manufacturing output declined by 0.3 percent compared to the previous month, with notable drops in motor vehicles, parts, and electrical equipment. Mining output fell by 0.6 percent, while utilities saw a 2.8 percent rise.
See big room for growth across all our segments : Keshav Bhajanka, Century Plyboards
I think you have hit the nail on the head. The real estate sector has finally recovered after I would say a decade in a weak position. Now, that the cycle has changed, all building material products are going to benefit and I believe as market leaders in our category we are going to see a substantial benefit out of the same.
US manufacturing sector regresses in April; prices paid near two-year high
U.S. manufacturing experienced a contraction in April as orders declined, reversing a brief expansion seen in March. The Institute for Supply Management (ISM) reported that its manufacturing PMI dropped to 49.2 from 50.3 in March. This decline, below the 50 mark indicating growth, reflects constraints due to higher borrowing costs and a shift in spending towards services.
US private sector hiring picks up again in March
US private sector hiring exceeded expectations in March, according to payroll firm ADP. The sector added 184,000 jobs, surpassing market predictions of 150,000, with construction, financial services, and manufacturing leading the increase. ADP also revised up February's job data from 140,000 to 155,000.
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