Can the Bajaj-Triumph tie up overtake the beloved Royal Enfield?
Maruti Suzuki is set to launch a new multi-purpose vehicle (MPV) -- Invicto -- next month. It will be the company's first passenger vehicle with an ex-showroom price tag of Rs 20 lakh or more, said Shashank Srivastava, executive director (sales), on Tuesday. The upcoming MPV will compete with the likes of Toyota Innova Hycross, Kia Carnival, Hyundai Alcazar, MG Hector Plus, Tata Safari, Mahindra & Mahindra XUV700, and Mahindra & Mahindra Scorpio-N - all having three rows of seats. Invicto will be based on the Hycross by Toyota, which will manufacture Maruti's most expensive car at its Bidadi plant in Karnataka.
Muted global trend after a report that US President Donald Trump was preparing to impose more tariffs on China hurt trading sentiments.
Ahead of the 2023-24 Union Budget, the thinking at the top level of the central government is clear: Gross domestic product (GDP) growth of 6-6.5 per cent is a comfortable enough target for FY24 and the focus should be on fiscal consolidation to ensure that the sovereign cost of borrowing does not become prohibitively expensive in a high-interest rate environment, according to people in the know. Those aware of deliberations between the Prime Minister's Office (PMO) and the Ministry of Finance said while the Budget would look to strike a balance between infrastructure investment and welfare schemes, it is unlikely to be populist, though it will be the last full-year Budget before the 2024 Lok Sabha election. Incidentally, 6-6.5 per cent GDP growth is what the upcoming 2022-23 Economic Survey is expected to project for FY24.
If you firmly believe that all things must come to an end, then the decline in equity markets this week should come as no surprise.
Sensex gained 38.18 points or 0.15% at 25,918.95 and Nifty ended higher by 12.50 points or 0.16% at 7,739.55.
Silver eased by Rs 150 to Rs 37,100 per kg lacking necessary buying from industrial units.
As the Ukraine conflict impacts the global GDP, India is projected to grow by 6.4 per cent in 2022, slower than the last year's 8.8 per cent but still the fastest-growing major economy, with higher inflationary pressures and uneven recovery of the labour market curbing private consumption and investment, according to a UN report. The UN Department of Economic and Social Affairs said in its World Economic Situation and Prospects (WESP) report released on Wednesday that the war in Ukraine has upended the fragile economic recovery from the pandemic, triggering a devastating humanitarian crisis in Europe, increasing food and commodity prices and globally exacerbating inflationary pressures. The global economy is now projected to grow by only 3.1 per cent in 2022, down from the 4.0 per cent growth forecast released in January 2022.
Besides high portfolio yield, investors may enjoy capital gains in debt funds in 2023 as bonds rally in anticipation of rate cuts.
The market breadth was fairly positive - out of 2,724 stocks traded, 1,782 advanced, 858 declined and the rest were unchanged today.
Investor wealth slumped by Rs 1.55 lakh crore on Thursday today, dragged down by massive selling in the stock markets where nearly seven out of ten shares closed lower.
The deluge of offerings in the primary market, a muted results season and increasing talks of a Fed taper may quicken the pace of overseas investors selling Indian equities in the near term. The next few weeks may see a dozen companies tap the market for initial public offerings and raise about Rs 30,000 crore. These include the likes of Zomato, Glenmark Life Sciences, Utkarsh Small Finance Bank and Seven Islands Shipping.
The primary and immediate impact of a depreciating rupee is on the importers who will have to shell out more for the same quantity and price. However, it is a boon for the exporters as they receive more rupees in exchange for dollars. The rupee depreciation has wiped away some of the gains that would have accrued to India from international oil and fuel prices dropping to pre-Ukraine war levels.
The domestic currency had lost 49 paise to close at a three-month low of 60.55 on Thursday on capital outflows after the US Fed trimmed its monthly bond buying programme by another $10 billion.
India's opening stocks of wheat in the central pool are expected to be 19.5-20 million tonnes as on April 1, 2022, the lowest in the last three years, but much higher than the normative level required for maintaining a buffer and strategic reserve, trade and market sources said. In accordance with the buffer and strategic reserve norms, India should have a wheat stock of 7.5 million tonnes in the central pool as on April 1 each year and this year's stocks, though the lowest in the last three years, will still be over 160 per cent more than what is required. On the export front, both government and trade sources are unanimous that this year (FY22) they will be 7-7.25 million tonnes, a record, while in the next financial year, they might touch even 10 million tonnes if the current momentum is maintained.
Lauding India's ambitious space programme, The New York Times has said the country, currently witnessing an 'explosive' growth in space-tech start-ups, is set to 'transform the planet's connection to the final frontier' and can emerge as a 'counterweight' to China.
Sources say Apple is currently looking for a professional who can advise the company in dealing with the government.
In the Sensex kitty, ITC turned star performer by surging 2.45 per cent, followed by NTPC rising 2.19 per cent.
Sensex has lost 1,623.43 points or 9.24 per cent in the eight sessions straight.
Both the Sensex and Nifty hit their lowest levels in this calendar year.
Globally, gold fell by 0.24 per cent to $1,182.80 an ounce and silver shed 0.72 per cent to $15.89 an ounce in London.
"There are 4.55 million broadband-connected SME PCs, of which 13 per cent are expected to be the hosted exchange opportunity. Email is expected on every fourth phone to be sold in India in the next four years. Enterprise customers now want to access email, calendar, attachments and more wherever they are, on choice of their device --a big opportunity for telcos, Internet service providers and systems integrators," said Dayakar Puskoor, executive chairman, GlobalOutlook.
The merits and demerits of the telcos' 5G strategy however is clearly dependent on the financial muscle of players, reports Surajeet Das Gupta.
The index moved in a range of 388 points between 16,697 (low) and 17,086 (high) before finally settling with a loss of 108 points at 16,753. The index moved in a range of 388 points between 16,697 (low) and 17,086 (high) before finally settling with a loss of 108 points at 16,753. The market breadth was marginally positive - out of 2,784 stocks traded, 1,410 advanced, 1,304 declined and 70 were unchanged on Tuesday.
HCL Tech was the top gainer in the Sensex pack, rising over 2 per cent, followed by Infosys, Reliance Industries, Tech Mahindra, Bajaj Auto and M&M. On the other hand, IndusInd Bank, Kotak Bank Bank, Power Grid, Sun Pharma and Asian Paints were among the laggards.
Silver, however, ended steady at Rs 36,000 per kg.
There were more than three losers against every gainer on BSE
From the 30-share pack, Infosys, Tech Mahindra, TCS, HDFC, HDFC Bank, Wipro and HCL Technologies were among the major laggards in early trade. Nifty tumbled 314.95 points to 17,160.70.
The wider NSE Nifty too ended 21.55 points, or 0.21 per cent down at 10,476.70.
Silver met with resistance at prevailing levels.
It is the fundamentals of companies that will drive stock performance.
Indian benchmark indices may witness bouts of volatility this week as traders roll over positions in the derivative segment on expiry of near-month contracts, say experts.
Bajaj Finserv was the top gainer in the Sensex pack, soaring around 8 per cent, followed by Tata Steel, Tech Mahindra, Bajaj Finance, HDFC Bank and SBI.
The external environment has worsened further. While the Finnish economy entered into a recession, Swedish economic growth also dipped. The Finnish gross domestic product (GDP) dropped 0.6 per cent in October-December, 2022. It was the second quarter of negative growth, which is a technical definition of recession.
Total holdings of the top eight gold ETFs have risen by 3.8 million ounces so far this year
'A soft landing of the Indian economy would be a long-term positive for the equity markets.'
India's exports declined by 29.2 per cent in May -- contracting for the eighth month in a row -- over the same month last year as overseas shipments hit by the slowdown in major global markets like the US and Europe.
Many giving double-digit returns, with India up less than one per cent; even so, it has done much better than other emerging markets.
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India's share of 2015 emerging market allocations will be driven by FII perceptions on likely growth and reform.
The US currency weakened against major Asian currencies in global markets which lifted the rupee sentiment
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