News

India`s economic performance in Q1 FY24 by Dr. Manoranjan Sharma, Infomerics Ratings. The Indian economy grew at 7.8% in the first quarter of the financial year. Consistent demand, higher activities in the services sector and increased capital expenditure were the drivers behind the GDP growth. Key highlights: Sectoral Growth: Agriculture recorded a growth of 3.5%. However, construction activity decelerated to 7.9% from the previous year, while the services sector posted a 10.3% growth, driven by the 'Financial, Real Estate & Professional Service' sector P...
India`s economic performance in Q1 FY24 by Dr. Manoranjan Sharma, Infomerics Ratings.
India`s economic performance in Q1 FY24 by Dr. Manoranjan Sharma, Infomerics Ratings.
Source: PR Agency
6/09/2023 5:15:05 PM
Market sentiments this week to be driven by global cues In the absence of any major triggers from the domestic market, sentiments will be driven by global cues, including the release of US payroll and PMI data, says Vinod Nair, Head of Research at Geojit Financial Services. The domestic market witnessed a significant rally at the end of the week, driven by higher-than-expected domestic manufacturing PMI and positive GDP growth data, reflecting a robust economic outlook, he said. Favourable global cues also played a role in this upturn. Notab...
Market sentiments this week to be driven by global cues
Market sentiments this week to be driven by global cues
Source: IANS
3/09/2023 11:58:21 AM
Comments On GDP growth for India By Mr Vineet Agarwal, Jiraaf Below On GDP data views from Mr Vineet Agarwal ,  Co-Founder Jiraaf “The Q1 GDP growth for India is slightly better than expectations and we expect the GDP growth to be north of 6.5% for the whole of fiscal year 2024. Consumer consumption and spending is expected to grow, and so is the demand for Retail & MSME borrowing. For Jiraaf, with inflation still high individual investors are looking for good risk-assessed fixed-income investment opportunities...
Comments On GDP growth for India By Mr Vineet Agarwal, Jiraaf
Comments On GDP growth for India By Mr Vineet Agarwal, Jiraaf
Source: PR Agency
1/09/2023 4:22:36 PM
GDP growth will likely moderate in the quarters ahead Going ahead, GDP growth will likely moderate in the quarters ahead, Emkay Global Financial Services said in a report. Falling income growth in the urban sector, shrinking corporate profitability, fading momentum in (front-loaded) government capex, demand-curbing monetary policies and diminishing global growth prospects may weigh on output, the report said. Even as domestic activity is maintaining resilience, economic activity recovery is not yet broad-based. While rural income has remai...
GDP growth will likely moderate in the quarters ahead
GDP growth will likely moderate in the quarters ahead
Source: IANS
1/09/2023 1:58:24 PM
Centre`s fiscal deficit touches 33.9% of the full-year target at July-end: CGA The data released by the Controller General of Accounts (CGA) has showed that the Centre's fiscal deficit in the first four months of 2023-24 touched 33.9 per cent of the full-year target. In absolute terms, the fiscal deficit -- the gap between expenditure and revenue -- was Rs 6.06 lakh crore as of July-end. The deficit stood at 20.5 per cent of the Budget Estimates (BE) in the corresponding period of the financial year 2022-23. In the Union Budget, the government projected to bring ...
Centre`s fiscal deficit touches 33.9% of the full-year target at July-end: CGA
Centre`s fiscal deficit touches 33.9% of the full-year target at July-end: CGA
Source: Accord Fintech
1/09/2023 12:56:23 PM
Moody`s raises India`s GDP forecast to 6.7% for 2023 Global rating agency Moody's has raised India's growth forecast to 6.7 per cent from 5.5 per cent for 2023. At the same time though, it has lowered the GDP forecast for 2024 from 6.5 per cent to 6.1 per cent. "Since the second quarter out performance creates a high base in 2023, we have lowered our 2024 growth forecast from 6.5 percent to 6.1 per cent. Given the robust underlying economic momentum, we also recognise further upside risk to India’s economic growth perfo...
Moody`s raises India`s GDP forecast to 6.7% for 2023
Moody`s raises India`s GDP forecast to 6.7% for 2023
Source: IANS
1/09/2023 11:56:06 AM
Reaction quote on Q1 FY24 GDP data announcement By Mr. Subho Moulik, Appreciate Below the perspective on the Q1 FY24 GDP data announcement Mr. Subho Moulik, CEO, Appreciate, a fintech platform for savings and investments: “This is fantastic news, but not very surprising to anyone who’s been closely following India’s growth story. The government not only invested a whopping $120 billion in infrastructure development in Q1 but has also been incentivising such investments. Indeed, the construction industry grew by an impressive 7.9% in Q1. The focu...
Reaction quote on Q1 FY24 GDP data announcement By Mr. Subho Moulik, Appreciate
Reaction quote on Q1 FY24 GDP data announcement By Mr. Subho Moulik, Appreciate
Source: PR Agency
1/09/2023 11:55:09 AM
Reaction quote on Q1 FY24 GDP data announcement By Mr. Raghvendra Nath, Ladderup Wealth Management Pvt. Ltd Below the perspective on the Q1 FY24 GDP data announcement By Mr. Raghvendra Nath, Managing Director, Ladderup Wealth Management Pvt. Ltd  “Though the GDP growth was lower than RBI expectations, India remains the fastest growing economy in the world at 7.8%. We expect the growth to moderate further in the coming quarters due to the potential slowdown in capex because of the upcoming elections and the impact of El Nino on the monsoon and the slowdown in exports”&n...
Reaction quote on Q1 FY24 GDP data announcement By Mr. Raghvendra Nath, Ladderup Wealth Management Pvt. Ltd
Reaction quote on Q1 FY24 GDP data announcement By Mr. Raghvendra Nath, Ladderup Wealth Management Pvt. Ltd
Source: PR Agency
1/09/2023 11:51:19 AM
Views on April-June GDP data By Vivek Goel, Tailwind Financial Services Limited Below The Views on GDP April-June quarter numbers by Mr. Vivek Goel, Joint Managing Director of Tailwind Financial Services India Outpaces China in Economic Growth, Maintains Swiftest Expansion Amidst Sectoral Dynamics and Fiscal Realities "India has maintained its position as the fastest expanding major economy, outpacing China's 6.3% GDP growth in the April-June quarter. India's GDP surged by a robust 7.8% year-on-year in the same period, attributed to escalated capital s...
Views on April-June GDP data By Vivek Goel, Tailwind Financial Services Limited
Views on April-June GDP data By Vivek Goel, Tailwind Financial Services Limited
Source: PR Agency
1/09/2023 11:45:22 AM
Perspective on GDP Announcement from Mohit Ralhan, TIW Capital Below The Perspective on GDP Announcement from Mohit Ralhan, Chief Executive Officer TIW Capital The GDP growth came in at a solid 7.8% YoY in Q1 FY 2024. Both consumption and investment activity grew at a robust rate. This growth is quite significant since it has been achieved even though the government expenditure declined compared to Q1 FY 2023 and weak global demand weighed on exports. Services growth was led by financial and real estate services which grew at 12.2% YoY. Even other ...
Perspective on GDP Announcement from Mohit Ralhan, TIW Capital
Perspective on GDP Announcement from Mohit Ralhan, TIW Capital
Source: PR Agency
1/09/2023 11:38:46 AM
Perspective on Q1 GDP Data for FY24 by Mr. Vivek Rathi, Knight Frank India. Below a perspective on Q1 GDP Data for FY24 by Mr. Vivek Rathi, Director - Research, Knight Frank India. “Q1 FY 2023-24 GDP growth rate of 7.8% was led by growth of domestic consumption and investment activity in the economy, stabilising the potential slowdown due to receding global demand. Private consumption expenditure which comprises majority weight in the GDP estimates grew by 6%. Domestic investments as well has indicated some strength, as seen in 7% growth in GC...
Perspective on Q1 GDP Data for FY24 by Mr. Vivek Rathi, Knight Frank India.
Perspective on Q1 GDP Data for FY24 by Mr. Vivek Rathi, Knight Frank India.
Source: PR Agency
1/09/2023 11:29:48 AM
Perspective on GDP Q1 FY24 by Ms. Madhavi Arora, Emkay Global Financial Below The Perspective on GDP Q1 FY24 by Ms. Madhavi Arora, Lead Economist, Emkay Global Financial Services “While the Apr-June Q growth print is in line with our expectations, the growth mix was a bit of a surprise. Ideally, the YoY fall in commodity prices should have boosted manufacturing firms’ operating profits and thereby lifted the value added growth of manufacturing sector. Thus, the disappointment on that front was surprising. On the other hand, strong government capex ...
Perspective on GDP Q1 FY24 by Ms. Madhavi Arora, Emkay Global Financial
Perspective on GDP Q1 FY24 by Ms. Madhavi Arora, Emkay Global Financial
Source: Emkay Global Financial Services
1/09/2023 11:25:37 AM
India`s records economic growth rate of 7.8% in Q1of 2023-24; remains fastest growing economy With better performance by agriculture and financial sectors, India has recorded an economic growth rate of 7.8 per cent in the April-June quarter (Q1) of 2023-24. The Gross Domestic Product (GDP) during the January-March quarter of 2022-23 was 6.1 per cent and 4.5 per cent during October-December. The GDP expanded by 13.1 per cent in the April-June quarter of 2022-23. India remained the fastest-growing major economy as China posted a 6.3 per cent growth in April-June 2023. The National St...
India`s records economic growth rate of 7.8% in Q1of 2023-24; remains fastest growing economy
India`s records economic growth rate of 7.8% in Q1of 2023-24; remains fastest growing economy
Source: Accord Fintech
1/09/2023 10:39:13 AM
India`s GDP growth towers over several economies, says chief economic adviser Even as the GDP growth for the first quarter of current fiscal stood at 7.8 per cent, a sharp fall from the corresponding period of last year, when it was 13.1 per cent, government said on Thursday that India's growth is better than several economies. "India’s quarterly GDP growth towers over that of many other economies.The government and the RBI are comfortable in holding on to their 2023-24 GDP growth forecast of 6.5 per cent," chief economic adviser V Anantha Nagesw...
India`s GDP growth towers over several economies, says chief economic adviser
India`s GDP growth towers over several economies, says chief economic adviser
Source: IANS
1/09/2023 10:02:12 AM
India`s economy grows at fastest pace in a year in June quarter India's economy grew at its fastest pace in a year in the June quarter, supported by strong services activity and robust demand, data released by the government showed on Thursday. Gross domestic product expanded 7.8% on an annual basis in the April to June quarter, accelerating from the 6.1% growth recorded in the March quarter and topping a 7.7% forecast in a Reuters poll. It was also the highest reading since the equivalent period of 2022, when growth stood at 13.1%. COMMENTAR...
India`s economy grows at fastest pace in a year in June quarter
India`s economy grows at fastest pace in a year in June quarter
Source: Reuters
1/09/2023 9:22:32 AM
India`s rural demand vulnerable owing to higher food inflation, lower income: CareEdge Ratings CareEdge Ratings in its latest report has said the India’s rural demand is vulnerable and could be further impacted by the ‘dual blows’ of lower income and high food inflation owing to an erratic monsoon. It stated the upcoming festivities may lead to a rise in consumption demand but such an increase will depend on the extent of the skewed monsoon impact. It mentioned monsoon has been deficient so far and there is no certainty if the situation will improve. Consumption, i...
India`s rural demand vulnerable owing to higher food inflation, lower income: CareEdge Ratings
India`s rural demand vulnerable owing to higher food inflation, lower income: CareEdge Ratings
Source: Accord Fintech
31/08/2023 11:34:15 AM
India`s economic growth set to accelerate to its fastest in a year India's economy grew at its fastest pace in a year in the April-June quarter, driven by services and manufacturing, data is expected to show on Thursday, though economists warn of a slowdown ahead. According to the median forecast in a Reuters poll of economists, India's gross domestic product (GDP) grew 7.7% in the past quarter, up from 6.1% growth in the previous quarter and its fastest expansion since April-June 2022. Economists say lower commodity prices helped manufacturers...
India`s economic growth set to accelerate to its fastest in a year
India`s economic growth set to accelerate to its fastest in a year
Source: Reuters
31/08/2023 9:15:49 AM
Gold at 3-week high as dollar slips Gold rallied to its three-week high as the US dollar and Treasury yields slipped amidst weak economic data points, says Navneet Damani, Senior VP of Commodity Research at Motilal Oswal Financial Services. Today focus will be on US GDP and Private payroll data, which if reported lower than expectations could further support gains for gold and silver prices, he said. Broader trend on COMEX could be in the range of $1,915-1,950 and on domestic front prices could hover in the range of Rs 59...
Gold at 3-week high as dollar slips
Gold at 3-week high as dollar slips
Source: IANS
30/08/2023 3:42:43 PM
Gold near 3-week high as markets cut back US rate hike bets Gold prices hovered near three-week highs on Wednesday, as investors pared back bets of further U.S. interest rate hikes in response to soft economic readings, with more data eyed this week to analyse the outlook. Spot gold was flat at $1,936.17 per ounce by 0328 GMT, about $2 below its highest levels since Aug. 7 hit on Tuesday. U.S. gold futures steadied at $1,964.30. U.S. Treasury yields slipped to three-week lows and the dollar weakened on Tuesday, after data showed job openings dro...
Gold near 3-week high as markets cut back US rate hike bets
Gold near 3-week high as markets cut back US rate hike bets
Source: Reuters
30/08/2023 9:55:08 AM
Adding 100 mn skilled Indians to the workforce can increase GDP by 20%   Bringing 100 million skilled people to the Indian workforce has the potential to increase the country’s GDP by 20 per cent and propel the economy towards $4 trillion, a report showed on Tuesday. Almost 50 per cent of India’s young informal workforce and those outside it are willing to upskill to bridge India’s employability gap, according to the report by investment firm Omidyar Network India with research partner Redseer. "The ministry has undergone a t...
Adding 100 mn skilled Indians to the workforce can increase GDP by 20%
Adding 100 mn skilled Indians to the workforce can increase GDP by 20%
Source: IANS
30/08/2023 9:15:25 AM
India`s automotive industry poised to rank number three in world by 2030: Government The government has said that India's automotive industry is poised to rank number three in the world by 2030, with various schemes like the Rs 25,938 crore Production Linked Incentive (PLI) for Automobile and Auto Components supporting the sector's growth. Ministry of Heavy Industries (MHI) considers the PLI-Auto applicants of automotive industry as one of the crucial stakeholders of the scheme. It emphasized that the goal of deep localization and development of Advanced Automotive...
India`s automotive industry poised to rank number three in world by 2030: Government
India`s automotive industry poised to rank number three in world by 2030: Government
Source: Accord Fintech
29/08/2023 12:39:47 PM
Rupee trades almost flat against US dollar on Tuesday Indian rupee is trading almost flat against the US dollar on Tuesday amid positive domestic equity markets. Some cautiousness came in with a private report that India is poised for its lowest monsoon rains in eight years, with the EI Nino weather pattern seen crimping September precipitation after an August that is on track to be the driest in over a century. However, down side remained capped as India Ratings said that the country’s CAD is likely to narrow to around $10 billion or 1 pe...
Rupee trades almost flat against US dollar on Tuesday
Rupee trades almost flat against US dollar on Tuesday
Source: Accord Fintech
29/08/2023 11:09:31 AM
Nifty snaps two-day losing streak to close at 19,306 Domestic equities traded in the positive territory amid gains in global markets after China announced a 0.1 per cent duty cut on stock trades to aid its ailing stock market with a likeliness of more stimulus in future, said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services. The Nifty snapped a two-day fall to close with gains of 40 points at 19,306 levels. The broader market outperformed with the Nifty midcap 100 up 0.5 per cent while the Nifty smallcap 100 was...
Nifty snaps two-day losing streak to close at 19,306
Nifty snaps two-day losing streak to close at 19,306
Source: IANS
28/08/2023 6:22:10 PM
GDP growth in Q1FY24 should be good; government priority is to tame inflation: FM Nirmala Sitharaman Finance Minister Nirmala Sitharaman has said that India's Gross domestic product (GDP) growth in the first quarter of this fiscal (Q1FY24) should be good and that the government's priority is to tame inflation, which has touched a 15-month high. She also said that green shoots of private capital expenditure upcycle can be palpably felt as the government's enhanced capital expenditure is now crowding in private sector investments.  Mentioning about the key priorities of the...
GDP growth in Q1FY24 should be good; government priority is to tame inflation: FM Nirmala Sitharaman
GDP growth in Q1FY24 should be good; government priority is to tame inflation: FM Nirmala Sitharaman
Source: Accord Fintech
28/08/2023 11:14:01 AM
India economic growth likely picked up pace in April-June India economic growth likely accelerated to 7.7% in the April-June quarter, the fastest annual pace in a year, on robust service sector growth, strong demand and increased government capital expenditure, a Reuters poll found. All but two of 51 economists surveyed between Aug. 18 and Aug. 24 expected gross domestic product (GDP) growth to beat the January-March quarter's 6.1% rate, with forecasts ranging from 5.6% to 9.1% range. "Economic activity in Q1 FY-2024 was boosted by a ...
India economic growth likely picked up pace in April-June
India economic growth likely picked up pace in April-June
Source: Reuters
25/08/2023 9:29:39 AM
Nitin Gadkari launches Bharat NCAP, calls it `historic day` for India Union Minister for Road Transport and Highways, Nitin Gadkari on Tuesday launched Bharat NCAP, India's own crash testing safety programme, saying that it was a historic day for the country and that requests have been received for crash testing of 30 models. Addressing a gathering following the launching of Bharat NCAP, Gadkari said: "Today is a very important day in the history of Indian automobile industry but even also it is important for the society. I really appreciate the way...
Nitin Gadkari launches Bharat NCAP, calls it `historic day` for India
Nitin Gadkari launches Bharat NCAP, calls it `historic day` for India
Source: IANS
22/08/2023 3:04:08 PM
BRICS driving force of global growth, catching up with combined GDP of G7 countries: Piyush Goyal Union Minister of Commerce Piyush Goyal has said BRICS is the driving force of global growth and the economies in the five-member bloc are catching up with the combined GDP of G7 countries, with significant shifts in the manufacturing process. He said ‘the 21st century has witnessed significant shifts in what we manufacture, how we manufacture and for whom we manufacture’. He added ‘Manufacturing is a significant part of trade and industry and plays a pivotal role in the gro...
BRICS driving force of global growth, catching up with combined GDP of G7 countries: Piyush Goyal
BRICS driving force of global growth, catching up with combined GDP of G7 countries: Piyush Goyal
Source: Accord Fintech
22/08/2023 10:22:05 AM
Government will adhere to fiscal deficit target of 5.9% for FY24: T V Somanathan Finance Secretary T V Somanathan has said that the government will stick to the fiscal deficit target of 5.9 per cent of the Gross domestic product (GDP) in FY24 as robust tax, non-tax collections will help meet the spending requirement and make up for any shortfall in disinvestment proceeds. He said although there would be a shortfall with respect to disinvestment, this shortfall would be met by non-tax revenue mobilisation. It stated ‘Disinvestment target is unlikely to be met. How...
Government will adhere to fiscal deficit target of 5.9% for FY24: T V Somanathan
Government will adhere to fiscal deficit target of 5.9% for FY24: T V Somanathan
Source: Accord Fintech
21/08/2023 10:11:49 AM
Indian banks` operating environment stronger, but structural issues continue to affect - Fitch Ratings The operating environment (OE) for Indian banks has strengthened as economic risks associated with the Covid-19 pandemic have ebbed, Fitch Ratings said in a report on Wednesday. Fitch also said other structural issues like lengthy legal process, 'bad bank’ not playing a meaningful role hamper the OE. While the number of prudential indicators for the sector have also improved compared with pre-pandemic levels, though growing risk appetite in a relatively benign OE highlights th...
Indian banks` operating environment stronger, but structural issues continue to affect - Fitch Ratings
Indian banks` operating environment stronger, but structural issues continue to affect - Fitch Ratings
Source: IANS
16/08/2023 3:30:01 PM
Yen breaks above 145/$ level in choppy trading, dollar firm  The yen was volatile on Monday after slipping to its lowest for the year against the dollar, breaching the key 145 level as traders warily looked for clues on possible intervention, while the dollar rose to touch a more than one month high. The Japanese yen weakened to as low as 145.22 per dollar in early Asian hours, its lowest since Nov. 10 2022 before quickly reversing course. It was last at 144.96 per dollar, flat on the day. Japan's low yields have made the currency an ea...
Yen breaks above 145/$ level in choppy trading, dollar firm
Yen breaks above 145/$ level in choppy trading, dollar firm
Source: Reuters
14/08/2023 9:21:27 AM
Centre`s debt rose by 174% between 2013-14 & 2022-23, external debt by 100% Central government’s debt in the last nine years has risen 174 per cent, while there has been a 100 per cent increase in external debt during the same period, i.e., between 2013-14 and 2022-23. External debt is a component of Central government's overall debt. According to the Finance Ministry, Central government's debt was Rs 58.6 lakh crore (52.2 per cent of GDP) as on March 31, 2014, which went up by 174 per cent to Rs 155.6 lakh crore (57.1 per cent of GDP) as on March...
Centre`s debt rose by 174% between 2013-14 & 2022-23, external debt by 100%
Centre`s debt rose by 174% between 2013-14 & 2022-23, external debt by 100%
Source: IANS
14/08/2023 9:10:42 AM
Perspective on RBI MPC Announcement by Mr. Nikhil Gupta, Motilal Oswal Financial Services Ltd Below the perspective on RBI MPC Announcement by Mr. Nikhil Gupta, Chief Economist, Motilal Oswal Financial Services Ltd     As widely expected, the RBI kept all key interest rates unchanged with unanimous votes. The stance was also kept unchanged with 5-1 votes (except Prof. J Varma).   -- However, an incremental CRR of 10% of NDTL will be applied on additional NDTL attained between 19th May 2023 and 28th July 2023 by the banking system. The Gov...
Perspective on RBI MPC Announcement by Mr. Nikhil Gupta, Motilal Oswal Financial Services Ltd
Perspective on RBI MPC Announcement by Mr. Nikhil Gupta, Motilal Oswal Financial Services Ltd
Source: PR Agency
10/08/2023 2:03:38 PM
RBI Monetary Policy announcement - Views By Mr. Shivaji Thapliyal Yes Securities Below the Quote on RBI Monetary Policy announcement - Views by Mr. Shivaji Thapliyal, Head of Research and Lead Analyst, Yes Securities “It may be noted that banks have the option of linking externally benchmarked loans to benchmarks set by the FBIL (Financial Benchmarks India Pvt Ltd) but the same have not been utilised as much as the repo rate or t-bill rate. It remains to be seen whether the aforementioned revision of regulations will lead to greater acceptance of FBIL benchm...
RBI Monetary Policy announcement - Views By Mr. Shivaji Thapliyal Yes Securities
RBI Monetary Policy announcement - Views By Mr. Shivaji Thapliyal Yes Securities
Source: PR Agency
10/08/2023 12:53:13 PM
RBI has continued to maintain status quo on benchmark lending rates Says Vimal Nadar, Colliers India Below Reaction on RBI Policy By Vimal Nadar, Head of Research at Colliers India In one of the most keenly followed MPC meetings in recent times, RBI has continued to maintain status quo on benchmark lending rates. While the economic growth trajectory of India remains intact, food inflation and the consequential impact on consumer inflation remains a monitorable. The Central bank has factored in an inflation expectancy of 5.4% for FY 2023-24 in the GDP growth projection of 6....
RBI has continued to maintain status quo on benchmark lending rates Says Vimal Nadar, Colliers India
RBI has continued to maintain status quo on benchmark lending rates Says Vimal Nadar, Colliers India
Source: PR Agency
10/08/2023 11:52:20 AM
Sensex slumps after hawkish tone in RBI policy The MPC has delivered in line with market expectations on rates, stance and tone, with retention of rates and stance and the tone turning hawkish, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services. The significant change is the upward revision in FY24 CPI inflation projection from 5.1 per cent to 5.4 per cent. This means the high policy rates will remain high for long and, therefore, a rate cut can be expected only in Q1 FY25, he said. From the market persp...
Sensex slumps after hawkish tone in RBI policy
Sensex slumps after hawkish tone in RBI policy
Source: IANS
10/08/2023 11:50:30 AM
Sustained selling by FIIs of Rs 10,437 cr during last eight sessions A significant near-term trend in the market now is the sustained selling by FIIs of Rs 10,437 crore during the last eight trading sessions matched by the sustained buying by DIIs of Rs 10,860 crore in the same period, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services. It is important to understand that while FII activity is influenced by external factors like the Dollar Index and US bond yields, DII activity is predominantly determined by domestic factors like...
Sustained selling by FIIs of Rs 10,437 cr during last eight sessions
Sustained selling by FIIs of Rs 10,437 cr during last eight sessions
Source: IANS
8/08/2023 12:39:17 PM
India needs to focus on manufacturing sector to achieve sustained growth of 7-7.5% until 2030: CEA Chief Economic Advisor (CEA) V Anantha Nageswaran has said that India needs to focus on the manufacturing sector to achieve sustained growth of 7-7.5 per cent until 2030. He also said that manufacturing should be a key growth area given the country's comparative advantage in terms of skilled labour, improved physical infrastructure, well-established industrial ecosystem and large domestic market.  As regards the services sector, CEA said the composition should change in favour of ...
India needs to focus on manufacturing sector to achieve sustained growth of 7-7.5% until 2030: CEA
India needs to focus on manufacturing sector to achieve sustained growth of 7-7.5% until 2030: CEA
Source: Accord Fintech
4/08/2023 11:41:24 AM
S&P sees Indian economy growing by average 6.7% to 2031 amid short-term challenges S&P Global on Thursday projected the Indian economy to grow by an average annual rate of 6.7% to March 2031, driven by manufacturing and services exports and consumer demand, despite short-term challenges from rate hikes and a global slowdown. S&P retained its earlier forecast of 6% growth for the current fiscal year ending March 2024, noting even at this rate, India will be the fastest growing economy in the G20. Last month, the International Monetary Fund raised its growth for...
S&P sees Indian economy growing by average 6.7% to 2031 amid short-term challenges
S&P sees Indian economy growing by average 6.7% to 2031 amid short-term challenges
Source: Reuters
3/08/2023 5:21:33 PM
Economic activity appears to have remained weak in July  Economic activity appears to have remained weak in July and the three-month low manufacturing PMI, falling water reservoir levels, weak growth in freight traffic and CV sales and declining PV sales were only partly offset by better rail passenger traffic and power generation, Motilal Oswal Financial Services said in a research. Economic activity weakened in Jun'23 also. Preliminary estimates indicate that the growth in India’s EAI for GVA decelerated to its eight-month low ...
Economic activity appears to have remained weak in July
Economic activity appears to have remained weak in July
Source: IANS
3/08/2023 2:10:13 PM
India's services growth at 13-year high in July on strong demand  India's dominant services sector expanded at its fastest pace in 13 years last month as demand increased significantly despite elevated inflationary pressures, a business survey showed on Thursday. S&P Global's India services purchasing managers' index rose to 62.3 in July from June's 58.5, confounding expectations in a Reuters poll for a dip to 58.0. It was the highest index reading since June 2010 and has remained above the 50-mark that separates growth from exp...
India's services growth at 13-year high in July on strong demand
India's services growth at 13-year high in July on strong demand
Source: Reuters
3/08/2023 11:10:06 AM
US Rating Downgrade by Fitch - Tata Mutual Fund THROUGH THE LENS United States Downgraded to AA+ by Fitch The Event • Fitch Rating downgraded its US debt rating to AA+ from AAA • The Rating downgrade reflects the expected fiscal deterioration over the next three years, a high and growing government debt burden, and erosion of governance. • Treasury Secretary Janet Yellen quickly responded to the downgrade, calling it “arbitrary” and “outdated.” Possible Impact • We believe th...
US Rating Downgrade by Fitch - Tata Mutual Fund
US Rating Downgrade by Fitch - Tata Mutual Fund
Source: PR Agency
2/08/2023 4:51:36 PM
Indian Real Estate Sector Received Institutional Investments Worth USD 1.6 Bn in Q2 2023, Led by Commercial Assets and Foreign Investors. Vestian, a commercial real estate consultant based in Bengaluru, has published its investment report “Institutional Investment in Indian Real Estate Q2 2023”. The report states that the Indian real estate sector has demonstrated remarkable resilience in the face of market uncertainty, witnessing a surge in institutional investments during the second quarter of 2023. As per Vestian Research, institutional investments reached USD 1.6 Bn during Q2 2023, marking a substantial 33.3%...
Indian Real Estate Sector Received Institutional Investments Worth USD 1.6 Bn in Q2 2023, Led by Commercial Assets and Foreign Investors.
Indian Real Estate Sector Received Institutional Investments Worth USD 1.6 Bn in Q2 2023, Led by Commercial Assets and Foreign Investors.
Source: PR Agency
1/08/2023 2:52:32 PM
Centre`s fiscal deficit touches 25.3% of full-year target at end-June: CGA The Controller General of Accounts (CGA) in its latest data has said that the Centre’s fiscal deficit at the end of the first quarter of current financial touched 25.3 per cent of the full-year target. In absolute terms, the fiscal deficit - the gap between expenditure and revenue - was Rs 4,51,370 crore as of end-June. The deficit stood at 21.2 per cent of the Budget Estimates (BE) in the corresponding period of the financial year 2022-23. In the Union Budget, the government project...
Centre`s fiscal deficit touches 25.3% of full-year target at end-June: CGA
Centre`s fiscal deficit touches 25.3% of full-year target at end-June: CGA
Source: Accord Fintech
1/08/2023 10:35:00 AM
Europe`s economy is growing again The euro area economy is growing again, but may struggle to maintain the momentum for the rest of the year, CNN reported. Gross domestic product across the 20 countries that share the euro currency rose by 0.3 per cent in the second quarter, compared with the previous three months, according to an official estimate published Monday. GDP had fallen by 0.1 per cent in the last three months of 2022, and stagnated in the first quarter of this year, CNN reported. Separately, official data...
Europe`s economy is growing again
Europe`s economy is growing again
Source: IANS
1/08/2023 9:58:18 AM
CareEdge Ratings Economic Pathway July 2023 Highlights Global: IMF upgrades 2023 global growth outlook to 3% from 2.8% estimated in April. Cooling inflation and the labour market in the US support bets of an end to Fed’s rate hike cycle. US Nonfarm Payrolls rose 209K in June, the smallest increase in over 2 years. US wage growth improved to 4.4% y-o-y in June from 4.3% prior. Weaker-than-expected Q2 GDP growth and flatlining inflation in China raise calls for stimulus.   Domestic Consumption signal...
CareEdge Ratings Economic Pathway July 2023
CareEdge Ratings Economic Pathway July 2023
Source: PR Agency
31/07/2023 8:26:09 PM
Fiscal deficit touches 25.3% of full year target, stands at Rs 4.51 lakh crore for April-June period The government's fiscal deficit for April-June period stood at 25.3 per cent of the full-year target, according to data released by Controller General of Accounts (CGA) on Monday. The fiscal deficit, which is the gap between expenditure and revenue, was Rs 4,51,370 crore as of end-June, the data said. The government, during the union budget, had announced that it plans to cut down fiscal deficit to 5.9 per cent of the GDP in 2023-24. The deficit was 6.4 per cent of the GDP in 2022-2...
Fiscal deficit touches 25.3% of full year target, stands at Rs 4.51 lakh crore for April-June period
Fiscal deficit touches 25.3% of full year target, stands at Rs 4.51 lakh crore for April-June period
Source: IANS
31/07/2023 6:27:00 PM
Reserve Bank of India won`t revise repo rate, decision to be unanimous: Economists Despite food inflation and existance of continued geo-political and climate risks, the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) will not change the interest rate from the current 6.5 per cent, economists have saif. They also said the benchmark repo rate will remain constant till the last quarter of FY24. Predicting that RBI will not change the repo rate, Bank of Baroda’s Chief Economist Madan Sabnavis told IANS: “The decision will be unanimous. Inf...
Reserve Bank of India won`t revise repo rate, decision to be unanimous: Economists
Reserve Bank of India won`t revise repo rate, decision to be unanimous: Economists
Source: IANS
31/07/2023 3:55:46 PM
Indian stock market to deliver 11-12% returns with short term corrections The Indian stock market is expected to continue to deliver over 11-12 per cent returns with short term corrections, said a senior official of Anand Rathi Wealth Ltd. He said short term corrections in the market are inevitable and investors should use that as an opportunity to invest. Responding to the query whether the bull run is coming to a halt, Deputy CEO Feroze Azeez told IANS: “Equity, as an asset class, goes through bear and bull market cycles. A bull cycle is a period wher...
Indian stock market to deliver 11-12% returns with short term corrections
Indian stock market to deliver 11-12% returns with short term corrections
Source: IANS
31/07/2023 3:13:33 PM