News

India`s business activity surges to 3-month high in November India's business activity surged to a three-month high in November, driven by robust growth in the services sector and record job creation, according to the HSBC survey for the month.  "Services saw a pick-up in growth, while the manufacturing sector managed to outperform expectations despite a marginal slowdown from its October final PMI reading," observed Pranjul Bhandari, chief India economist at HSBC. HSBC's flash India Composite Purchasing Managers' Index...
India`s business activity surges to 3-month high in November
India`s business activity surges to 3-month high in November
Source: IANS
2024-11-22 12:50:30 pm
Maruti Suzuki surges on inking pact with HSBC India Maruti Suzuki is currently trading at Rs. 11451.05, up by 143.80 points or 1.27% from its previous closing of Rs. 11307.25 on the BSE. The scrip opened at Rs. 11310.70 and has touched a high and low of Rs. 11474.60 and Rs. 11310.00 respectively. So far 766 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 13675.00 on 01-Aug-2024 and a 52 week low of Rs. 9738.40 on 18-Jan-2024. Last one week high and low of the scr...
Maruti Suzuki surges on inking pact with HSBC India
Maruti Suzuki surges on inking pact with HSBC India
Source: Accord Fintech
2024-11-11 10:28:23 am
E-way bills for goods soar to record high as trade surges in Oct The e-way bill generation for the transportation of goods from production centres to markets across the country soared to a record high of 11.7 crore during October, representing a 17 per cent jump over the same month of the previous year, data from the Goods and Services Tax Network (GSTN) showed.    The surge in e-way bills reflects the increase in economic activity as the manufacturing sector accelerates to meet the growing demand in the economy during the festive season. T...
E-way bills for goods soar to record high as trade surges in Oct
E-way bills for goods soar to record high as trade surges in Oct
Source: IANS
2024-11-08 12:34:52 pm
Strong demand revives India services PMI in October Growth in India's dominant services industry picked up last month after dipping to a 10-month low rate in September amid a marked expansion in demand, according to a business survey that also showed the sector's workforce increased sharply. That signaled a relatively strong start for Asia's third-largest economy in 2024's final quarter and supports Reuters poll forecasts for 7.0% growth this quarter after 6.8% last quarter. Services accounted for about 55% of gross domes...
Strong demand revives India services PMI in October
Strong demand revives India services PMI in October
Source: Reuters
2024-11-06 02:19:46 pm
India`s services sector growth surges in Oct Indian service providers maintained a strong rate of output expansion in October, with growth recovering from September's ten-month low, which also led to the creation of more jobs during the month, according to HSBC's survey released on Wednesday.  Participants of the HSBC India Services PMI survey, conducted by S&P Global, commonly cited healthy customer demand domestically and from abroad. In response to positive sales developments, and optimism regarding near-term ...
India`s services sector growth surges in Oct
India`s services sector growth surges in Oct
Source: IANS
2024-11-06 12:06:29 pm
Rupee weakens against US dollar on Tuesday Indian rupee weakened against the US dollar on Tuesday due to a muted trend in domestic equities and caution ahead of the outcome of the US presidential election this week, while this week’s Federal Reserve's monetary policy announcement also pressurised sentiments. Moreover, persistent foreign fund outflows and rising crude oil prices also dragged down the domestic currency. Foreign institutional investors were net sellers in the capital markets on Monday, as they offloaded shares ...
Rupee weakens against US dollar on Tuesday
Rupee weakens against US dollar on Tuesday
Source: Accord Fintech
2024-11-05 12:37:27 pm
India`s manufacturing sector regains growth momentum; PMI at 57.5 in October India's manufacturing sector regained growth momentum in the month of October, fuelled by faster increases in total new orders and international sales. An associated rise in production requirements boosted demand for raw materials, with suppliers comfortably able to deliver inputs in a timely manner. Besides, goods producers were also more willing to take on additional staff which, coupled with rising material costs, added to business expenses. Both input prices and selling charges increa...
India`s manufacturing sector regains growth momentum; PMI at 57.5 in October
India`s manufacturing sector regains growth momentum; PMI at 57.5 in October
Source: Accord Fintech
2024-11-04 03:35:33 pm
Export orders fuel India`s manufacturing growth, jobs in October: HSBC India’s manufacturing sector growth accelerated in October, fuelled by faster increases in total new orders and international sales, leading to the creation of more jobs during the month, according to the HSBC data released on Monday.  The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) compiled by S&P Global, rose from September's eight-month low of 56.5 to 57.5 in October, indicating a substantial and accelerated improvement in o...
Export orders fuel India`s manufacturing growth, jobs in October: HSBC
Export orders fuel India`s manufacturing growth, jobs in October: HSBC
Source: IANS
2024-11-04 02:11:32 pm
India`s factory growth accelerates in October, PMI shows  India's manufacturing growth gained momentum in October after decelerating for three months as demand improved significantly, helping in job creation and leading to a better business outlook, according to a business survey released on Monday. The HSBC final India Manufacturing Purchasing Managers' Index, complied by S&P Global, rose to 57.5 in October from an eight-month low of 56.5 in September and was above a preliminary estimate of 57.4. "India's headline m...
India`s factory growth accelerates in October, PMI shows
India`s factory growth accelerates in October, PMI shows
Source: Reuters
2024-11-04 10:48:56 am
India`s manufacturing industry regains growth momentum, hiring up in services sector India’s manufacturing industry regained growth momentum in October and the acceleration was supported by quicker increases in factory production and services activity, according to a new report.  India’s private sector economy continued to showcase robust growth in October, according to the latest HSBC ‘flash’ PMI survey compiled by S&P Global. Meanwhile, hiring was stronger in the service sector. The latest increase in employment was sharp and the q...
India`s manufacturing industry regains growth momentum, hiring up in services sector
India`s manufacturing industry regains growth momentum, hiring up in services sector
Source: IANS
2024-10-26 08:44:47 am
India's business activity grows at faster clip in Oct, PMI shows Growth in India's business activity picked up slightly in October after softening last month, led by stronger demand in the manufacturing sector, according to a survey that also showed job creation rose at the fastest pace since February 2006. HSBC's flash India Composite Purchasing Managers' Index, compiled by S&P Global, rose to 58.6 this month from September's final reading of 58.3, which was a 10-month low. The headline index has been above the 50-level separatin...
India's business activity grows at faster clip in Oct, PMI shows
India's business activity grows at faster clip in Oct, PMI shows
Source: Reuters
2024-10-24 11:22:53 am
India`s business activity slows down in September: HSBC Flash India PMI India's business activity slowed down in the month of September, as both output and new orders rose at the slowest rates in 2024 so far. However, employment continued to rise solidly amid improved business confidence. Besides, the rates of both input cost and output price inflation were relatively muted, with service providers raising their charges at the slowest pace in just over two-and-a-half years. The headline HSBC Flash India Composite Output Index -- a seasonally adjusted index ...
India`s business activity slows down in September: HSBC Flash India PMI
India`s business activity slows down in September: HSBC Flash India PMI
Source: Accord Fintech
2024-09-23 12:54:50 pm
India`s services sector growth accelerates to 5-month high in August, PMI shows  Activity in India's dominant services sector rose at its fastest pace in five months in August as demand remained resilient amid easing inflationary pressures, a survey showed. The HSBC final India Services Purchasing Managers' Index, compiled by S&P Global, rose to 60.9 in August, up from July's 60.3 and exceeding a preliminary estimate of 60.4. The reading, which has topped the 50-mark separating growth from contraction since August 2021, was above the long-run a...
India`s services sector growth accelerates to 5-month high in August, PMI shows
India`s services sector growth accelerates to 5-month high in August, PMI shows
Source: Reuters
2024-09-04 11:31:12 am
India's factory activity growth hits three-month low, PMI shows India's manufacturing activity growth eased to a three-month low in August as demand softened significantly, a private-sector survey showed on Monday, casting another shadow over the otherwise robust economic outlook. Growth in Asia's third-largest economy slowed to 6.7% last quarter from 7.8% as government spending fell, official data showed on Friday. The HSBC final India Manufacturing Purchasing Managers' Index, compiled by S&P Global, fell for a second month in Augus...
India's factory activity growth hits three-month low, PMI shows
India's factory activity growth hits three-month low, PMI shows
Source: Reuters
2024-09-02 11:04:21 am
Analysis-Foreign lenders lured by rare stake sales in India banks, but tighter rules weigh  Talks to sell majority stakes in two Indian banks have attracted interest from foreign peers in Japan and the Middle East betting on a fast-growing economy, but tighter regulations and valuation concerns could curb their appetite, analysts and sources say. The rare opportunity for foreign banks to take controlling stakes in a market dominated by state-owned banks comes as existing investors in Yes Bank and IDBI Bank look to divest their holdings. Banking sector deals in India, esp...
Analysis-Foreign lenders lured by rare stake sales in India banks, but tighter rules weigh
Analysis-Foreign lenders lured by rare stake sales in India banks, but tighter rules weigh
Source: Reuters
2024-08-28 04:23:48 pm
India business activity extends robust growth streak in August, PMI shows  India's business activity extended its robust growth streak in August as a stronger services industry offset a slight slowing in manufacturing expansion, according to a survey that indicated price pressures also were easing. Those findings suggest India will hold on to its title of fastest-growing major economy over coming quarters despite expectations of a slowdown in the global economy. HSBC's flash India Composite Purchasing Managers' Index, compiled by S&P Glob...
India business activity extends robust growth streak in August, PMI shows
India business activity extends robust growth streak in August, PMI shows
Source: Reuters
2024-08-22 10:45:35 am
FDI in India’s manufacturing sector hits $165 bn, 69 pc growth in last 10 years The country is emerging as a top destination for foreign investment in the manufacturing sector and in the last decade, foreign direct investment (FDI) inflows in the sector surged almost 69 per cent to reach $165.1 billion, according to the government.  Jitin Prasada, Minister of State for Commerce and Industry, informed that FDI equity inflow in the manufacturing sectors in the last 10 financial years (2014-24) has increased by 69 per cent to $165.1 billion as compared to $97.7 bill...
FDI in India’s manufacturing sector hits $165 bn, 69 pc growth in last 10 years
FDI in India’s manufacturing sector hits $165 bn, 69 pc growth in last 10 years
Source: IANS
2024-08-11 12:21:03 pm
India`s services sector growth eases to 60.3 in July India’s services sector growth eased during the month of July as higher wage and material costs continued to push up business expenses, with the overall rate of inflation quickening from June, however it remained above the neutral mark of 50.0 for the thirty-sixth straight month. According to the survey report, the seasonally adjusted HSBC India Services PMI Business Activity Index eased to 60.3 in July from 60.5 in June. Further, the HSBC India Composite PMI Output Index -- which measu...
India`s services sector growth eases to 60.3 in July
India`s services sector growth eases to 60.3 in July
Source: Accord Fintech
2024-08-05 02:37:43 pm
India's services growth slows a touch but still solid, PMI shows Activity in India's dominant services sector remained upbeat in July on robust demand, leading to strong job creation, despite elevated cost pressures pushing up selling-price inflation to a seven-year high, a survey showed. The HSBC final India Services Purchasing Managers' Index, compiled by S&P Global, fell marginally to 60.3 in July from 60.5 in June and was considerably below a preliminary estimate of 61.1. However, the overall pace of expansion was sharp and the index ...
India's services growth slows a touch but still solid, PMI shows
India's services growth slows a touch but still solid, PMI shows
Source: Reuters
2024-08-05 02:05:55 pm
India sees uptick in manufacturing sentiments, domestic demand in April-June As the Union Budget 2024-2025 gives special attention to labour-intensive manufacturing, a new survey said on Friday that manufacturing sentiments in the country have shown an improvement in the April-June quarter.  According to FICCI’s ‘Quarterly Survey on Manufacturing,’ nearly 78 per cent of respondents in the Q1 FY25 expect either higher or unchanged production levels, compared to the same period last year. It also highlighted optimism in domestic demand condi...
India sees uptick in manufacturing sentiments, domestic demand in April-June
India sees uptick in manufacturing sentiments, domestic demand in April-June
Source: IANS
2024-07-26 04:37:53 pm
India's business activity surges to 3-month high in July India's business activity accelerated to a three-month high in July as the services sector surged and manufacturing picked up momentum leading to companies hiring at the fastest pace in 18 years, according to the latest HSBC's survey.  HSBC's flash India composite purchasing managers' index compiled by S&P Global, rose to 61.4 this month from June's final reading of 60.9, marking three years of continuous expansion. "The Flash Composite Output Index...
India's business activity surges to 3-month high in July
India's business activity surges to 3-month high in July
Source: IANS
2024-07-25 05:06:12 pm
India's private sector economy continues to expand in July: HSBC Flash India PMI data India's private sector economy continued to expand in July, aided by stronger increases in new business intakes and output. The headline HSBC Flash India Composite Output Index - a seasonally adjusted index that measures the month-on-month change in the combined output of India's manufacturing and service sectors - surged from 60.9 in June to 61.4 in July. The HSBC Flash India PMI data, compiled by S&P Global, indicated that new orders placed with private sector firms in India ...
India's private sector economy continues to expand in July: HSBC Flash India PMI data
India's private sector economy continues to expand in July: HSBC Flash India PMI data
Source: Accord Fintech
2024-07-24 03:24:57 pm
Likely winners and losers from India's upcoming national budget India unveils its budget on July 23 in the first major policy announcement of Prime Minister Narendra Modi's third five-year term, which could usher in changes to economic priorities. After a shock election result saw Modi's party returned to power relying on allies, the government is expected to boost consumption in Asia's third-largest economy by lowering personal taxes or increasing spending on consumer-focused areas. While that could benefit consumer goods makers, real e...
Likely winners and losers from India's upcoming national budget
Likely winners and losers from India's upcoming national budget
Source: Reuters
2024-07-22 09:32:42 am
HSBC appoints insider Georges Elhedery as CEO HSBC Holdings Plc said on Wednesday that Chief Financial Officer Georges Elhedery will become group CEO - a choice that highlights the global lender's preference for continuity as it looks to kickstart growth. Elhedery, 50, who becomes HSBC's third CEO in less than eight years, will replace outgoing head Noel Quinn from Sept. 2. The 160-year-old lender has traditionally appointed its CEO from within. Since 2020, Elhedery has been the co-head of the Global Banking and Markets bus...
HSBC appoints insider Georges Elhedery as CEO
HSBC appoints insider Georges Elhedery as CEO
Source: IANS
2024-07-17 09:49:18 am
HSBC India renames its Cashback Credit Card to HSBC Live + Credit Card with access to over 200 restaurants and culinary offers across Asia HSBC India today launched an upgraded lifestyle credit card HSBC Live+ Credit card with a full suite of new culinary offers to enhance the lifestyle experience of globally minded customers. The HSBC Cashback credit card is now HSBC Live+ credit card.    HSBC Live+ Credit Card provides rewards tailored to lifestyle spending and reflects HSBC’s focus on providing innovative solutions that help customers earn more rewards while enjoying quality experiences.  ...
HSBC India renames its Cashback Credit Card to HSBC Live + Credit Card with access to over 200 restaurants and culinary offers across Asia
HSBC India renames its Cashback Credit Card to HSBC Live + Credit Card with access to over 200 restaurants and culinary offers across Asia
Source: PR Agency
2024-07-13 10:40:00 am
India`s services sector activity improves to 60.5 in June India’s services sector activity improved during the month of June amid a stronger rise in new orders and an unprecedented expansion in international sales. According to the survey report, the seasonally adjusted HSBC India Services PMI Business Activity Index rose to 60.5 in June from 60.2 in May. Further, the HSBC India Composite PMI Output Index -- which measures both manufacturing and services -- also surged to 60.9 in June as against 60.5 in May. The survey report noted that new...
India`s services sector activity improves to 60.5 in June
India`s services sector activity improves to 60.5 in June
Source: Accord Fintech
2024-07-03 11:53:45 am
India`s manufacturing activity surges in June, hiring at 19-year high India's manufacturing activity picked up momentum in June on the back of rising consumer demand leading to the fastest rate of hiring in 19 years, according to HSBC's final India Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, released on Monday.  “The Indian manufacturing sector ended the June quarter on a stronger footing. The headline manufacturing PMI rose by 0.8 percentage points to 58.3 in June, supported by increased new orders and ...
India`s manufacturing activity surges in June, hiring at 19-year high
India`s manufacturing activity surges in June, hiring at 19-year high
Source: IANS
2024-07-01 12:21:49 pm
Government initiatives played vital role in creating jobs for people in private sector: Economist Government initiatives such as Startup India, Make in India, New Education Policy, and others have played an important role in creating employment for people in private sector on such a large scale, Vivek Singh, Professor at NMIMS University, Economist and Political Analyst, said on Saturday.  According to HSBC's flash Purchasing Managers' Index (PMI) data, output growth across India's private sector regained growth in June with business activity increasing at quicker rate...
Government initiatives played vital role in creating jobs for people in private sector: Economist
Government initiatives played vital role in creating jobs for people in private sector: Economist
Source: IANS
2024-06-23 10:11:06 am
Business activity surges in June, hiring at 18-year high: PMI survey Output growth across India's private sector regained growth in June with business activity increasing at quicker rates among manufacturing companies and services firms while hiring of workers shot up to an 18-year high, according to HSBC’s flash PMI data released on Friday.   There was also a substantial upturn in aggregate employment amid robust expansions in total new orders intakes and international sales, according to the data, compiled by S&P Global. New o...
Business activity surges in June, hiring at 18-year high: PMI survey
Business activity surges in June, hiring at 18-year high: PMI survey
Source: IANS
2024-06-21 02:17:45 pm
India`s services sector activity growth eases to 60.2 in May India’s services sector activity growth eased further during the month of May but remained comfortably above the neutral mark of 50.0, highlighting a sharp upturn in output. Robust increases in new business intakes continued to underpin output growth across India's service economy. According to the survey report, the seasonally adjusted HSBC India Services PMI Business Activity Index fell to 60.2 in May from 60.8 in April. It was 61.2 in March. Further, the HSBC India Composite P...
India`s services sector activity growth eases to 60.2 in May
India`s services sector activity growth eases to 60.2 in May
Source: Accord Fintech
2024-06-05 12:39:43 pm
India's May services growth cools to five-month low, PMI shows Growth in India's services activity growth slowed to a five-month low in May as robust domestic demand weakened, according to a survey, which also showed exports growing at a record pace and job creation rising to a 21-month high. The final HSBC India Services purchasing managers' index, compiled by S&P Global, fell to 60.2 last month from April's 60.8, confounding a preliminary reading for a rise to 61.4. However, it remained above the 50 mark separating growth from con...
India's May services growth cools to five-month low, PMI shows
India's May services growth cools to five-month low, PMI shows
Source: Accord Fintech
2024-06-05 11:08:29 am
Rupee to count on central bank's help amid portfolio outflows The Indian rupee will rely on the central bank stepping in to defend the currency on Wednesday, amid likely foreign portfolio outflows following the unexpected outcome of the country's general election. Non-deliverable forwards indicate the rupee will open largely unchanged from 83.53 in the previous session. The rupee is not too far from the all-time low of 83.5750 hit in April. The rupee posted its biggest single-day percentage decline in a year on Tuesday after Prime Minister Nar...
Rupee to count on central bank's help amid portfolio outflows
Rupee to count on central bank's help amid portfolio outflows
Source: Reuters
2024-06-05 09:11:09 am
Shriram Finance Raises Multi Currency USD 468 mn equivalen Shriram Finance Limited (SFL), the flagship company of Shriram Group, has recently completed a significant fund-raising effort, securing USD 425 million and EUR 40 million through a syndicated term loan transaction. This marks the largest widely syndicated loan transaction for a private non-banking financial company (NBFC) from India in recent years, and it is the largest ever syndicated loan transaction by Shriram Finance.    This achievement follows closely on the heels of a...
Shriram Finance Raises Multi Currency USD 468 mn equivalen
Shriram Finance Raises Multi Currency USD 468 mn equivalen
Source: PR Agency
2024-06-03 03:36:31 pm
India`s manufacturing sector growth eases further to 57.5 in May India's manufacturing sector growth eased further in the month of May, signaling a slower but still substantial improvement in the health of the sector. The headline figure was nearly four points higher than its long-run average. According to the survey report, the seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) eased to 57.5 in May as against 58.8 in April. It was 59.1 in March. Amid marketing efforts, demand strength and favourable economic conditi...
India`s manufacturing sector growth eases further to 57.5 in May
India`s manufacturing sector growth eases further to 57.5 in May
Source: Accord Fintech
2024-06-03 12:30:52 pm
India clocks record rise in exports, employment at 18-year high in May: PMI data The Indian economy clocked a record rise in exports and the sharpest upturn in employment in nearly 18 years in May, according to HSBC Flash Purchasing Manager's Index (PMI) data released on Thursday. The PMI data, compiled by S&P Global, indicated the third-strongest upturn in private sector output since July 2010. Although the manufacturing industry continued to lead the growth of both sales and output, it was the service economy that was responsible for the latest acceleration i...
India clocks record rise in exports, employment at 18-year high in May: PMI data
India clocks record rise in exports, employment at 18-year high in May: PMI data
Source: IANS
2024-05-23 01:42:54 pm
India May business growth robust as exports rise at record pace, PMI shows Business activity in India expanded robustly in May, helped by the dominant services industry, according to a survey that also showed exports rising at a record pace and the sharpest job addition rate in nearly 18 years. HSBC's flash India Composite purchasing managers' Index, compiled by S&P Global, rose slightly to 61.7 this month from April's final reading of 61.5, marking the 34th month above the 50-level separating growth from contraction. "The composite PMI ti...
India May business growth robust as exports rise at record pace, PMI shows
India May business growth robust as exports rise at record pace, PMI shows
Source: Reuters
2024-05-23 11:10:06 am
Rupee likely to struggle on weak yuan, portfolio outflows worries The Indian rupee is likely to drop at open on Monday, pressed by the decline in the Chinese yuan and the possibility that election uncertainties may spur more portfolio outflows. Non-deliverable forwards indicate the rupee will open at 83.54-83.55 to the U.S. dollar, compared with 83.50 in the previous session. The rupee is within a spitting distance of the all-time low of 83.5750. The Reserve Bank of India (RBI) has likely been intervening to help the domestic currency. "And ye...
Rupee likely to struggle on weak yuan, portfolio outflows worries
Rupee likely to struggle on weak yuan, portfolio outflows worries
Source: Reuters
2024-05-13 09:11:05 am
India`s services sector clocks robust growth in April, lifts business confidence to 3-month high  India's services sector continued to register robust growth in April on the back of strong domestic and foreign demand, which lifted business confidence to a three-month high, according to an HSBC survey published on Monday. The HSBC final India Services Purchasing Managers' Index, compiled by S&P Global, came in at 60.8 in April, which was marginally lower than the 61.2 registered in March, but still the fastest growth rate in just under 14 years. The services sector ...
India`s services sector clocks robust growth in April, lifts business confidence to 3-month high
India`s services sector clocks robust growth in April, lifts business confidence to 3-month high
Source: IANS
2024-05-06 01:44:18 pm
India`s April services growth strong on near-record exports, PMI shows Growth in India's dominant services industry softened in April but remained sturdy on robust domestic and foreign demand, lifting business confidence to a three-month high, a survey showed on Monday. The HSBC final India Services Purchasing Managers' Index, compiled by S&P Global, fell to 60.8 in April from 61.2 in March, confounding a preliminary estimate for a rise to 61.7. Despite the decline in the headline reading, the figure still marked one of the fastest growth rates...
India`s April services growth strong on near-record exports, PMI shows
India`s April services growth strong on near-record exports, PMI shows
Source: Reuters
2024-05-06 10:44:51 am
Rupee may struggle on higher US bond yields, weak Asian cues The Indian rupee is expected to broadly struggle on Thursday amid an uptick in U.S. Treasury yields and losses on Asian currencies and equities before the U.S. GDP data. Non-deliverable forwards indicate the rupee will open marginally weaker to nearly flat to the U.S. dollar from 83.3225 in the previous session. The rupee, having slipped to an all-time low of 83.5750 on Friday, has broadly done well. The cooling off of the Iran-Israel crisis and inflows have helped the local currency re...
Rupee may struggle on higher US bond yields, weak Asian cues
Rupee may struggle on higher US bond yields, weak Asian cues
Source: Reuters
2024-04-25 08:47:15 am
Rupee edges higher against US dollar on Tuesday Indian rupee edged higher against the US dollar on Tuesday supported by a firm trend in domestic equities. Sentiments were positive with a survey showing that India's business activity expanded at its fastest pace in nearly 14 years in the month of April thanks to robust demand. It also showed easing input inflation and positive jobs growth. That suggests India is well placed to remain the fastest growing major economy this year after posting strong expansion over the past few quarters. H...
Rupee edges higher against US dollar on Tuesday
Rupee edges higher against US dollar on Tuesday
Source: Accord Fintech
2024-04-23 12:42:42 pm
India`s economic activity surges to 14-year high in April: HSBC survey  India's economic activity surged close to a 14-year high this month on the back of a strong performance of the manufacturing and services sectors, according to an HSBC survey released on Tuesday. The HSBC composite purchasing managers' index compiled by S&P Global for India, increased to 62.2 in April from the final reading of 61.8 for March. A reading of 50 on the index represents the dividing line between expansion and contraction in the economy. "Strong perform...
India`s economic activity surges to 14-year high in April: HSBC survey
India`s economic activity surges to 14-year high in April: HSBC survey
Source: IANS
2024-04-23 12:02:05 pm
India's April business growth at near 14-year high, Purchasing Managers' Index show India's business activity expanded at its fastest pace in nearly 14 years this month thanks to robust demand, according to a survey released on Tuesday that also showed easing input inflation and positive jobs growth. That suggests India is well placed to remain the fastest growing major economy this year after posting strong expansion over the past few quarters. HSBC's flash India Composite purchasing managers' Index, compiled by S&P Global, rose to 62.2 this month from...
India's April business growth at near 14-year high, Purchasing Managers' Index show
India's April business growth at near 14-year high, Purchasing Managers' Index show
Source: Reuters
2024-04-23 10:49:28 am
Biofuels firm GPS Renewables raises $50 mn from private, public sector banks Full-stack biofuels company GPS Renewables on Tuesday said that it raised $50 million (about Rs 411.5 crore) in debt financing from leading private and public sector banks, as well as prominent NBFCs (Non-Banking Financial Companies). Punjab National Bank, HDFC, Yes Bank, HSBC Bank, Kotak Mahindra Bank, ICICI Bank, Citibank, Vivriti Capital, Northern Arc, Spark Capital, Tata Capital and SIDBI were the institutions that participated in the current financing round. "To further accele...
Biofuels firm GPS Renewables raises $50 mn from private, public sector banks
Biofuels firm GPS Renewables raises $50 mn from private, public sector banks
Source: IANS
2024-04-16 04:16:20 pm
Rupee to struggle on worries over oil prices, weak risk The Indian rupee is expected to be under pressure at open on Monday, possibly dipping to a new low, on concerns that rising Middle East tensions could push oil prices higher and sour risk appetite. Non-deliverable forwards indicate the rupee will open at around 83.44-83.48 to the U.S. dollar compared with 83.4150 in the previous session. The rupee's lifetime low is 83.4550, hit on April 4. Brent crude climbed above $92 for the first time in nearly six months on Friday. It has since ...
Rupee to struggle on worries over oil prices, weak risk
Rupee to struggle on worries over oil prices, weak risk
Source: Reuters
2024-04-15 08:48:28 am
Liquidity from global equity markets fuelling fresh investment in gold There is an emerging view that the rally in gold is being fuelled by the surge in equities. “Record-high gold prices have accompanied record-high equity valuations. The wealth and liquidity effect of higher equities may allow for the purchase of more gold, than would otherwise be the case,” global bank HSBC said in a note. Much of the buying in gold appears to be fresh investment from outside the usual market participants, motivated perhaps by liquidity from the equity marke...
Liquidity from global equity markets fuelling fresh investment in gold
Liquidity from global equity markets fuelling fresh investment in gold
Source: IANS
2024-04-14 02:07:07 pm
Foreign investors turn to derivative proxies to gain exposure to Indian debt Overseas investors seeking exposure to India's debt ahead of its inclusion in global benchmark indexes are using proxy instruments such as offshore swaps as they aim to overcome the country's onerous investment regulations. Foreign investors have flocked to Indian government bonds ahead of their inclusion in the JPMorgan emerging market debt index from June, seeking to front-run the $20-25 billion from index-tracking funds that is expected to subsequently flow into the market. F...
Foreign investors turn to derivative proxies to gain exposure to Indian debt
Foreign investors turn to derivative proxies to gain exposure to Indian debt
Source: Reuters
2024-04-12 12:12:33 pm
India`s services sector growth surges leading to more jobs in March: PMI survey India's services sector growth accelerated in March on the back of strong demand, leading to employment increasing at the fastest rate in seven months and export business expanding at a record pace during the month, according to an HSBC survey released on Thursday. HSBC India Services Purchasing Managers' Index (PMI), compiled by S&P Global, rose to 61.2 last month from February's 60.6. This is well above the 50-mark on the index which separates growth from contraction. ...
India`s services sector growth surges leading to more jobs in March: PMI survey
India`s services sector growth surges leading to more jobs in March: PMI survey
Source: IANS
2024-04-04 01:52:14 pm