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Nomura lowers its FY25 GDP forecast for India to 6.7% Nomura lowered its FY25 economic growth forecast for India to 6.7% year-on-year from 6.9% after official data on Friday showed the country's gross domestic product (GDP) grew slower than expected on an annual basis in the April-June quarter. India's GDP rose 6.7%, less than the 6.9% forecast by a Reuters poll and the 7.8% growth in the previous quarter, as a decline in government spending during national elections weighed. "Overall, Q2 GDP data are weaker than expected, alt...
Nomura lowers its FY25 GDP forecast for India to 6.7%
Nomura lowers its FY25 GDP forecast for India to 6.7%
Source: Accord Fintech
2024-09-02 11:51:53 am
India's Federal Bank hits record high as cenbank clears KVS Manian as new CEO Shares of India's Federal Bank rose as much as 5.5% to a record high on Tuesday, a day after the central bank approved the appointment of veteran banker KVS Manian as the lender's new CEO, quashing concerns around management succession. Manian resigned from Kotak Mahindra Bank in April, after nearly three decades at the bank, saying he had aspirations elsewhere in the industry, and local media has said he was being considered for the CEO role at Federal Bank. The Reserve Bank of...
India's Federal Bank hits record high as cenbank clears KVS Manian as new CEO
India's Federal Bank hits record high as cenbank clears KVS Manian as new CEO
Source: Reuters
2024-07-23 10:13:50 am
India government to stick to February budget targets despite election rebuke The Indian government remains committed to upholding pre-election borrowing and spending targets in the July 23 budget, despite the ruling Bharatiya Janata Party (BJP) losing its majority in this year's national vote, a Reuters poll found. While relying on some regional parties to form the government, the BJP has retained most ministers from its second term, signaling continuity in fiscal policy, mostly aimed at boosting economic growth through infrastructure spending. But a lack of...
India government to stick to February budget targets despite election rebuke
India government to stick to February budget targets despite election rebuke
Source: Reuters
2024-07-17 09:59:33 am
India`s macro fundamentals to remain strong in 2nd half of FY25: Nomura Driven by steady growth and low, underlying inflation, India’s macroeconomic fundamentals are expected to remain strong in the second half of FY25, global brokerage firm Nomura has said.  Nomura expects a decline in India's consumer price index from 5.7 per cent at the end of FY24 to 4.8 per cent in the first quarter of the current fiscal (FY25), calling the low, underlying inflation a standout in the global context of “sticky inflation”. Food inflation will m...
India`s macro fundamentals to remain strong in 2nd half of FY25: Nomura
India`s macro fundamentals to remain strong in 2nd half of FY25: Nomura
Source: IANS
2024-07-02 01:51:09 pm
Cabinet`s composition under PM Narendra Modi indicates policy continuity: Nomura The composition of the new Cabinet under Prime Minister Narendra Modi indicates “policy continuity” at the moment, global brokerage and investment major Nomura has said. The new Cabinet includes 30 Cabinet Ministers, five Ministers of State with Independent Charge and 36 Ministers of State. Nomura has kept its portfolio unchanged on expectations of political continuity, predicting that Nifty 50 could breach 24,860 by the year-end “Through the course of the past week...
Cabinet`s composition under PM Narendra Modi indicates policy continuity: Nomura
Cabinet`s composition under PM Narendra Modi indicates policy continuity: Nomura
Source: IANS
2024-06-10 03:23:42 pm
Shapoorji Pallonji-backed Afcons Infrastructure files for $840 million India IPO India's Afcons Infrastructure, a unit of the Shapoorji Pallonji conglomerate, has filed for an initial public offering worth up to 70 billion rupees ($840 million), draft papers filed with the market regulator showed on Friday. The IPO will consist of a fresh issue of shares worth up to 12.50 billion rupees and a sale of shares by Shapoorji Pallonji unit Goswami Infratech of up to 57.5 billion rupees. The share float comes as India's blue-chip Nifty 50 index has repeatedly hit r...
Shapoorji Pallonji-backed Afcons Infrastructure files for $840 million India IPO
Shapoorji Pallonji-backed Afcons Infrastructure files for $840 million India IPO
Source: Reuters
2024-03-30 09:48:01 am
India`s UltraTech Cement posts 70% rise in Q2 profit on strong domestic demand India's UltraTech Cement on Thursday reported a 69.5% rise in second-quarter profit, boosted by higher demand in the infrastructure and real estate segment.The company reported a consolidated net profit of 12.81 billion rupees ($153.8 million) for the quarter ended Sept. 30, while revenue grew 15.3% to 160.12 billion rupees.The company earlier this month reported a 15% year-on-year increase in Q2 domestic sales of grey cement at 25.24 million metric tons.Meanwhile, the company's costs rose 12...
India`s UltraTech Cement posts 70% rise in Q2 profit on strong domestic demand
India`s UltraTech Cement posts 70% rise in Q2 profit on strong domestic demand
Source: Reuters
2023-10-19 02:45:46 pm