With the positive market sentiment created by the sweeping BJP win in the UP state election and a global sell-off in the US dollar, rupee bulls have managed to take the USD/INR close to the 65 level. Many currency traders are expecting this trend to continue, although at a slower momentum, which may take the exchange rate further down to around 62-63 levels in the coming months. But being bulli
Moody's Investors Service, a global rating agency, on Tuesday assigned a (P)Baa3 long-term senior unsecured rating and (P)P-3 short-term rating to the USD 300 million medium-term note (MTN) program that was established by the Indian Renewable Energy Development Agency Limited (IREDA, local and foreign currency issuer rating: Baa3, standalone credit profile: ba3). The rating outlook is stabl
Below is the views on Dr Reddy's Laboratories Ltd By Ms. Sarabjit Kour Nangra (VP Research- Pharma, Angel Broking Pvt Ltd):
“Dr Reddy's Laboratories Ltd and Integra LifeSciences Holdings Corporation, a global medical Technology company, have entered into an exclusive distribution agreement. Under the agreement, will market and distribute
An eventful financial year nears its end on March 31. It was a year of tumultuous ups and downs that witnessed a couple of historic economic moments. The year began with a hopeful resolution of the Greek financial crisis followed by a shocking exit of Britain from the European Union (EU). Post-Brexit, the EU's future was put in doubt and the world braced for its aftershocks. However, the fe
The Union cabinet decided last month to double India's solar power generation capacity, from 20 GW to 40 GW, by setting up 50 solar parks, which are solar projects with a capacity of 500 MW or more concentrated in one area. But this additional 20 GW would mean acquisition of at least 80,000 acres of land, thrice Jaipur's area, and possibly a problematic move in a land-starved country.
The total workforce of the country's largest lender -- State Bank of India (SBI) -- will see a reduction over the next two years, after the merger with six entities, owing to attrition, reduced hiring and digitisation, a top official said.
"Manpower will go down with the period of time. Around 10 per cent reduction in two years may be a possibility," Rajnish Kumar, SBI M
At 19, Dinesh Manjhi is the breadwinner for his family -- three siblings and a 55-year-old mother. But his tryst with adulthood actually began at 12, when his father took him on a 1,500-km journey from their home in Bihar to a farm in Punjab to work as a seasonal worker. This way, he added a valuable extra to what the father saved to bring back home every season.
By Sudarshan Varadhan and Mayank Bhardwaj
NEW DELHI - India is likely to emerge unscathed from the El Nino weather pattern as it is expected to set in only during the latter part of the four-month monsoon season, a top weather official said, indicating a timely arrival of crop-nourishing rains.
Monsoon rains, the lifeblood for India's farm-dependen
Below is the views on automobile sector By Mr. Shrikant Akolkar (Research Analyst- Auto & Auto Ancillary, Angel Broking Pvt Ltd):
“The upcoming BS-IV standards are expected to have a neutral impact on the automobile sector. Most passenger vehicle makers are already following the BS-IV norms hence we expect no impact of BS-IV implementa
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US rating agency Moody's on Wednesday maintained the Adani Group-run Abbot Point Terminal Ltd's Ba2 bank credit facility rating, saying its outlook is negative.
"Moody's Investors Service has on Wednesday affirmed Adani Abbot Point Terminal Pty Ltd's (AAPT) Ba2 senior secured and senior secured bank credit facility ratings. The outlook remains negative,"
Below is the views on Avenue Supermarts Ltd By Mr. Amarjeet Maurya (Sr. Equity Research Analyst- Mid Caps, Angel Broking Pvt Ltd):
“Avenue Supermarts Ltd (ASL), founded in 2002, is the owner of the well established supermarket chain D-Mart. ASL is amongst the largest and the most profitable Food & Grocery retailers in India. It offers
Fitch Ratings further downgraded the long-term issuer default ratings on paper maker Ballarpur Industries Ltd (BILT) and its subsidiary Bilt Paper BV to a more speculative grade, reported PTI. Citing severe liquidity constraints and inevitable default, the agency said it has downgraded ratings on BILT and its subsidiary "to C from CCC".
In January, Fitch had downgraded BILT
State Bank of India (SBI), which will see five associate banks merge into it on April 1, has decided to shut down almost half the offices of these banks, including the head offices of three of them. This process will start from April 24.
"Out of the five head offices of the associate banks, we will retain only two. Three head offices of the associate banks will be unbound along w
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
Below is the views on Shankara Building Products Limited By Mr. Amarjeet Maurya (Sr. Equity Research Analyst- Mid Caps, Angel Broking Pvt Ltd):
“Considering the company’s strong retail presence, diversified product offering, substantial same store sales growth (last five years average growth is 23%) and robust retail revenue of ~29%
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
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
Below is the views On Fed hikes rates, investors remain wary ahead of European Elections By Mr. Vaibhav Agrawal (Head of Research and ARQ):
“The US Fed’s decision to raise key rates by 25 bps was in line with market expectations. As per the US Fed, the data for Feb indicates that labor market has continued to strengthen a
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
With an increase in both wholesale and retail inflation indices in February indicating that India has left behind the "most benign part of retail inflation", an expert has suggested that the RBI should postpone further cuts in interest rates.
Official data on Tuesday showed the annual rate of inflation based on wholesale prices rose to over a three-year high of 6.55 per cent
The Indian rupee strengthened for the third session to hit a fresh 16-month high against the US dollar - Angel
Below is the views It and Pharma Sector By Ms. Sarabjit Kour Nangra (VP Research- IT & Pharma, Angel Broking Pvt Ltd)
The Indian rupee strengthened for the third session to hit a fresh 16-month high against the US dollar. The same is said to be reflective of the Indian economical strength. Since January 2017, the Ru
Global credit rating agency Moody's Investor's Service on Wednesday said the recent state election results will facilitate reforms by the BJP led Indian government.
In a statement Moody's said the 2017 state election results demonstrate broad-based popular support for the Indian government's policy agenda and will facilitate the implementation of further reforms, a cre
Below is the views on Tax saver mutual funds By Vatsal shah,Wealth Management,Sushil Finance
For years together, tax payers can claim deduction in income under section 80(c) of Income Tax Act. Many products are available within that namely Public Provident Fund (Commonly known as PPF), ELSS mutual funds, National Savings certificate (NSC
MUMBAI - India's annual consumer price inflation accelerated by a stronger-than-expected 3.65 percent in February, mainly driven by food prices, after touching its lowest level in at least five years in January, government data showed on Tuesday.
Economists polled by Reuters had expected last month's annual retail inflation to come in at 3.58 percent, compared