BoP Review - CAD widens to 1.4%; Relapse of BoP imbalances - Emkay

External balance in Q3FY17 weakened meaningfully with a combination of widening CAD and decline in capital account balance. CAD widened to 1.4% of GDP from 0.3% in H1FY17 due to widening merchandise deficit and slowing invisibles support. Redemption in NRI deposits, decline in ECB and FII flows together contributed in sharp fall in capital account surplus to 1.1% of GDP. During Q1-Q3FY17 forex

24/03/2017 4:43:00 PM | Posted in Special Event Reports read full news
TRAI rejects Telecom Commission's contention on promo tariffs

Telecom regulator TRAI has rejected Telecom Commission's contention that free promotional offers allowed by it are responsible for the industry's falling financial health and lower licence fee payments to the government, reported PTI. TRAI is drafting a response to Telecom Commission's letter dated February 23 on the lines that tariff and tariff orders, solely under the regulator

Q3 CAD rises by 11.2% YoY - Continued weakness in invisibles a concern - RCML

Continued weakness in invisibles a concern

India’s Q3FY17 CAD rose 11.2% YoY to US$ 7.9bn (1.4% of GDP), surprising positively (US$ 12bn estimated). Remittances and service export earnings continued to decline, a key concern amid the increase in merchandise trade deficit. FII outflows and FCNR(B) redemptions led to a net reserve decretion of US$

24/03/2017 12:13:29 PM | Posted in Special Event Reports read full news
Castor seed surges on weaker output, higher export prospects - Angel Commodities

Outlook

The price of castor seed have been surging this year as supplies have been on lower side. Country is going to see second successive year of lower production mainly due lower acreage. Despite the

steady exports demand for meal and oil during the first two months of 2017, the prices have been in the higher side.

According to t

23/03/2017 12:08:33 PM | Posted in Commodities Reports read full news
Sebi relaxes norms to boost municipal bond market

Market regulator Sebi said that municipalities planning to issue bonds on private placement basis next fiscal will have to submit audited accounts for past three financial years starting 2013-14 to bourses. The decision has been taken after receiving feedback from municipal corporations. In view of the operational procedures followed by them, it would be difficult for them to submit the audited

Views On Vodafone - Idea merger - Motilal Oswal Sec

Below is the views on 'Vodafone - Idea merger' by Mr Gautam Duggad, Head- Research, Motilal Oswal Securities Limited

 

Deal contours – 1:1 Swap ratio

Vodafone will get 50% in the merged entity, implying 1:1 share swap. In the merged entity, Vodafone will get INR 552b

21/03/2017 5:21:25 PM | Posted in Special Event Reports read full news
India-UAE globalisation conference pitches for greater trade

The second annual All India Management Association (AIMA) India-UAE conference was held on Monday under the auspices of Sheikh Nahyan bin Mubarak Al Nahyan and the Ministry of Culture and Knowledge Development. The event was organised under the theme, "Resetting Globalisation: Collaborating in a Fast Changing World".

President of the AIMA Sunil Kant Munjal thanked Sheikh Nah

21/03/2017 3:36:44 PM | Posted in Special Event Reports read full news
Demonetization adds to short-term pressure on Indian NBFCs: Moody`s

Moody's Investors Service, a global rating agency, has said that Indian non-bank financial companies (NBFCs) will demonstrate broadly stable asset quality, but delinquencies will likely rise over the next 1-2 quarters, as demonetization adversely affects collections across asset classes.

"While the 90+days delinquency rate in the commercial vehicle (CV) loan segment largely s

Implementation of GST to be fiscal neutral: Nomura

A Nomura report has said that the implementation of Goods and Services Tax (GST) is likely to be fiscally neutral and its impact on inflation is expected to be less than 20 basis points. According to the Japanese financial services major, the GST council is making steady progress and is expected to be implemented in the July-September quarter this year.

As per reports, though the impa

GST impact on inflation to be less than 20 bps: Nomura

The implementation of Goods and Services Tax (GST) is likely to be fiscally neutral and its impact on inflation is expected to be less than 20 basis points, says a Nomura report. According to the Japanese financial services major, the GST council is making steady progress and is expected to be implemented in the July-September quarter this year. Though the impact of GST is likely to be minimal,

New UP Govt should ensure adequate power supply: ASSOCHAM

After the Bharatiya Janata Party's (BJP) astounding victory in the recently-concluded Uttar Pradesh Assembly Elections 2017, apex industry body ASSOCHAM has said that the need of the hour in the state is ensuring adequate electricity supply in the coming summer.

The top priority of the new government should be to drastically improve the quality and quantity of power supply in the

Fundamentals don't support long-term rupee rally: Care Ratings

Rating agency Care Ratings said the ongoing rupee appreciation is short-lived and Reserve Bank will soon have a role to play in correcting the sentiment, reported PTI. The rupee traded in the range of 66.70 and 65.41 between March 1 and March 16. But has appreciated by nearly Rs 1.23 against the US dollar since March 1 making it the best performing unit in the whole of Asia this year. "We

India Economics: Trade data - exports at 2-year high - RCML

Below is the views On India Economics: Trade data’ by Rahul Agrawal,Economy & Strategy,Religare Capital Markets Limited

Trade data – key takeaways:  

*India’s merchandise exports rose by 17.5% YoY to US$24.5bn in Feb’17 – this is the highest amount in any month in the last 2 ye

CPI and WPI Review Relapse of Inflationary pressure as demonetization fades - Emkay

Relapse of Inflationary pressure as demonetization fades

Inflationary pressures in February further accentuated at both wholesale and retail level, in line with our expectations. Fading off demonetization impact on inflation (bottoming out of vegetable inflation in Jan’17) is reflected in CPI and WPI inflation as it rose to 3.7% YoY and 6.6% resp

15/03/2017 4:17:09 PM | Posted in Special Event Reports read full news
Prime Minister may push drive against black money after Uttar Pradesh sweep: BofA-ML

With the stunning election victory in Uttar Pradesh indicating validation of BJP-led government's demonetisation move, Prime Minister Narendra Modi is expected to intensify the drive to push black money hoarders to declare funds under income disclosure scheme, a report said as per the PTI. As per Bank of America Merrill Lynch (BofA-ML), the Centre will step up the drive against black money

15/03/2017 10:32:15 AM | Posted in Special Event Reports read full news
India Economics Feb’17 WPI inflation at 39-month high - RCML

India Economics

Feb’17 WPI inflation at 39-month high

* WPI inflation rose to a 39-month high of 6.5% YoY in Feb’17 (consensus: 6.1%) from 5.2% in the preceding month, moving up sharply from an average of 3.5% in the Dec’16 quarter. This upmove was largely due to a spike in crude petroleum an

14/03/2017 4:49:36 PM | Posted in Special Event Reports read full news
India Strategy Election results: where do we go from here? - RCML

India Strategy

Election results: where do we go from here?

NDA posted a spectacular performance in the state assembly elections, particularly in Uttar Pradesh. Although the win is expected to boost NDA’s Rajya Sabha tally, it will continue to remain way short of the simple majority mark. The election res

14/03/2017 12:28:03 PM | Posted in Special Event Reports read full news
IIP to improve with remonetisation & rural spending - Emkay

IIP to improve with remonetisation & rural spending

After a brief initial reaction to demonetization in Dec’16 (IIP declined by 0.1% YoY), IIP for Jan’17 turned positive to 2.7% YoY. Seasonally adjusted IIP also witnessed a sharp rise in Jan’17 at 3.7% MoM. Overall production growth turned positive largely contributed by capital g

14/03/2017 12:17:46 PM | Posted in Special Event Reports read full news
President accepts Parrikar's resignation, Jaitley given additional charge of defence

The decks were cleared for Manohar Parrikar to take over as Goa Chief Minister with President Pranab Mukherjee on Monday accepting his resignation as Defence Minister and assigning additional charge of the ministry to Finance Minister Arun Jaitley.

"The President has accepted Manohar Parrikar's resignation from the council of ministers with immediate effect under clause (2) o

13/03/2017 3:38:59 PM | Posted in Special Event Reports read full news
ECB keeps its aggressive stimulus policy in place - Angel Commodities

Key Highlights

* ECB keeps its aggressive stimulus policy in place

* ECB President Draghi hints a diminished urgency for more policy action

* French election is likely to be of particular concern

* No hand of Germany in manipulating the Euro currency

* Risks to Euro-zone economy has shifted from domestic to inter

11/03/2017 2:14:52 PM | Posted in Special Event Reports read full news
Williams Dudleys hawkish comment on February 28, 2017 - Angel Broking

“Of late, the prospects of rate hike in the upcoming March’17 FOMC meeting, brightened starting right from William’s Dudley’s hawkish comment on February 28, 2017. He said the case for rate hike now seems “a lot more compelling” given rising confidence and expectations for fiscal stimulus post November elections. Other influential Fed members like Patrick Har

4/03/2017 5:46:53 PM | Posted in Special Event Reports read full news
UK could quit EU without paying a penny, say Lords

Britain could walk away from the European Union in 2019 without paying a penny, the House of Lords has said in a report bound to raise tensions with Brussels in the run-up to Brexit talks.

The European Commission has threatened to force Britain to make payments worth 52 billion pounds ($64 billion) over four years after leaving as part of a "hefty" exit bill, the Guardian re

4/03/2017 4:31:39 PM | Posted in Special Event Reports read full news
Indian firms can find opportunities in Trump's infrastructure plans

Indian companies can find opportunities in US President Donald Trump's massive $1 trillion plan for infrastructure development, according to Commerce Secretary Rita Teaotia.

There was optimism in the new administration for the growth of trade and investment, she told reporters after meetings with senior US official during her visit here with Foreign Secretary S. Jaishankar to scop

4/03/2017 4:25:43 PM | Posted in Special Event Reports read full news