'We plan to launch new initiatives, including cash flow-based lending, to ensure borrowers are not burdened and can access funds more quickly.'
The services sector growth in India rose to a 13-year high in September on sharp increase in new business amid strong demand conditions, and job numbers continued to increase as overall business mood improved, a monthly survey said on Thursday. The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from 60.1 in August to 61 in September, signalling a sharp upturn in output. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction.
'Growth, liquidity and deposit mobilisation are likely to be discussed during the interaction.'
Indian stock markets are expected to be driven mostly by global factors this week amid a lack of local triggers and earnings season largely coming to an end, say analysts. Crude oil prices, rupee movement and US Federal Reserve meeting minutes to be released this week will also influence the market sentiment. "With the earnings season behind us, global cues would largely dictate the trend in the coming week," Ajit Mishra, SVP - technical research, Religare Broking Ltd, said.
Foreign investors turned net sellers in October, withdrawing shares worth Rs 58,711 crore in the month so far owing to escalating conflict between Israel and Iran, a sharp rise in crude oil prices, and the strong performance of the Chinese market. The outflow came following a nine-month high investment of Rs 57,724 crore in September. Since June, Foreign Portfolio Investors (FPIs) have consistently bought equities, after withdrawing Rs 34,252 crore in April-May.
Will allowing business correspondents to hawk insurance products help in reviving 5-lakh strong field agents as a viable channel?
'Does 99 percent guarantee character and capacity for an independent awareness of life or does it make you -- barring exceptions -- a compliant careerist beholden to governments and corporations?' 'What kind of political and social choices would such minds make?' asks Shyam G Menon.
Putin is keen on establishing a good personal rapport with Trump and anchor a meaningful US-Russia partnership, realistic enough to accept that Trump is as good an American president as Russia would ever get, observes Ambassador M K Bhadrakumar.
If a 5% to 10% fall in the equity market gives you sleepless nights, you are not cut out for a 75% to 80% allocation to equities and must reduce it.
New India Assurance and Niva Bupa have invested in the Bima Sugam India Federation.
'The market should maintain optimism on the back of range-bound oil prices, a robust fiscal balance sheet, a better-than-expected monsoon, and moderating inflation.'
Aircraft maker Airbus on Thursday announced awarding a contract to Indian company Dynamatic Technologies for manufacturing all the doors for its next-generation narrow body A220 planes, giving a boost to the 'Make in India' initiative. While financial details were not disclosed, Civil Aviation Minister Jyotiraditya Scindia said it is one of the single-largest export contracts for an Indian aerospace manufacturing company and emphasised that the country is becoming a destination for aircraft component manufacturing activities.
'Such big falls are quite frequent these days, so do not try to time this market.' 'Use big dips to accumulate quality stocks.'
Macroeconomic data announcements, global trends and trading activity of foreign investors would guide momentum in the equity market this week, analysts said. Markets ended a five-week losing streak and gained nearly a per cent last week, helped by a sharp rebound on Friday. Last week, the BSE benchmark jumped 500.65 points or 0.77 per cent and the Nifty gained 169.5 points or 0.87 per cent.
'The economy is clearly at a very soft spot, and earnings growth is disappointing every day.' 'After three great years, the Indian economy has hit a rough patch.'
Foreign investors have adopted a cautious stance and infused Rs 7,320 crore in the Indian equities in August owing to high valuation of stocks and the unwinding of the Yen carry trade after Bank of Japan raised interest rates. This investment was way lower than Rs 32,365 crore in July and Rs 26,565 crore in June, according to data with the depositories. While September is likely to see continued interest from FPIs, the flows would be shaped by a combination of domestic political stability, economic indicators, global interest rate movements, market valuations, sectoral preferences, and the attractiveness of the debt market, Vipul Bhowar, Director Listed Investments, Waterfield Advisors, said.
Indian equity markets have a limited upside potential in the near-term as they negotiate the ensuing cyclical slowdown, wrote analysts at Nomura in a recent coauthored report led by Saion Mukherjee, their managing director and head of equity research for India. He, however, believes that the foundations are in place for sustainable growth over the medium-to-long term, and hence suggests a 'buy on dips' strategy to equity investors. As an investment strategy, Nomura prefers domestic-oriented sectors and companies over exporters, and prefers stocks that provide valuation comfort. Industrials and banks are their overweight sectors, while IT services and consumer discretionary are their underweight sectors.
Foreign investors turned net sellers in October, offloading shares worth Rs 27,142 crore in just the first three days of October due to intensifying conflict between Israel and Iran, a sharp rise in crude oil prices, and improved performance of Chinese markets. The outflow came after FPI investment reached a nine-month high of Rs 57,724 crore in September. Since June, Foreign Portfolio Investors (FPIs) have consistently bought equities after withdrawing Rs 34,252 crore in April-May.
Foreign investors made a significant turnaround and injected over Rs 1,500 crore into Indian equities in February, reversing the massive outflows seen in the preceding month, primarily due to robust corporate earnings and positive economic growth. Additionally, Foreign Portfolio Investors (FPIs) continued to be bullish on the debt markets as they put in over Rs 22,419 crore during the month under review, data with the depositories showed. Looking ahead to March, the outlook for FPI flow appears promising, provided the current economic trajectory and corporate performance sustain their positive momentum, potentially continuing to attract foreign investment into Indian equities, Mayank Mehraa, smallcase manager and principal partner at Craving Alpha, said.
India's services sector activity eased in August but growth rates for new orders remain elevated, as services firms indicated the sharpest upturn in new export business which acted as a catalyst for firms to expand their workforces as well as output, a monthly survey said on Tuesday. Despite falling from 62.3 in July to 60.1 in August, the seasonally adjusted S&P Global India Services PMI Business Activity Index indicated one of the strongest increases in output seen since mid-2010. For the 25th straight month, the headline figure was above the neutral 50 threshold.
Maruti Suzuki, Tata Motors, Mahindra & Mahindra, Hyundai and MG Motors are gearing up to introduce EVs in India.
Equity benchmark indices Sensex and Nifty settled higher on Thursday, powered by a rally in banking and power stocks amid a largely firm trend in global markets. The stock markets mostly traded range-bound in the absence of any major trigger and persistent foreign capital outflows, traders said. The 30-share BSE Sensex rose 144.31 points, or 0.18 per cent, to settle at 81,611.41.
'Given the worries about sluggish growth, rising interest rates and likely volatility, it's quite logical to infer that the SIP route could be the preferred way of investing.'
Foreign investors have injected close to Rs 33,700 crore in domestic equities in this month so far primarily due to interest rate cut in the US and resilience of the Indian market. This also marks the second highest inflow in a month in this year so far, the last one being in March, when Foreign Portfolio Investors (FPIs) infused Rs 35,100 crore, data with the depositories showed. Going ahead, the trend of FPIs buying is likely to continue in the coming days, V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.
'...you evaluate three key factors before committing your money.'
The market regulator's newly proposed selection criteria for the over Rs 400-trillion-a-day futures and options (F&O) market could pave the way for the entry of popular stocks such as Life Insurance Corporation (LIC) of India, Jio Financial Services, Zomato, Paytm, DMart, and Adani Energy into the derivatives segment. The Indian derivatives market, which accounts for most of the trading volumes, could see big churn with over two dozen exits from the current list of 182 stocks due to an upward revision in the eligibility thresholds.
The finance minister, in her Budget speech, should focus more on what she is directly responsible for, rather than on programmes where her role is largely supportive, notes Nitin Desai.
More than 50 per cent of SIP accounts come from semi-urban and rural areas.
'We are not asking for incentives, but at least taxation can be aligned such that the rupee tax on consumers remains the same.'
The Indian IT services sector is staring at a second consecutive year of muted revenue growth due to modest increase in tech spends in Europe and the US, a domestic rating agency said on Wednesday. Crisil Ratings said it expects the sector to grow at 5-7 per cent in FY25, after a growth of 6 per cent estimated to have been achieved in FY24. The overall industry size is pegged at $250 billion and it creates over 50 lakh direct jobs.
If growth reverts to the pre-Covid level, a lot of people may have to temper their rosy optimism, points out Debashis Basu.
While Paytm (One97 Communications) is not completely past regulatory hurdles, its share price has gained in the last month or two. The Paytm handle migration is complete along with FDI clearance necessary for the Payment Aggregator (PA) license. UPI consumer data indicates stable market share, and expansion in partner networks in financial distribution. All this implies Paytm could be set to meet guidance of turning Adjusted Ebitda breakeven by Q4FY25 (ex of UPI-incentives).
'If their allocation to certain segments have become high due to strong returns over the past three-four years, they should rebalance their portfolios and bring them in line with their long-term asset allocation.'
The second-quarter performance of the top five information-technology services firms gives the hint that slow growth has bottomed out on the back of discretionary spending kicking in for the sector's largest vertical - the banking and financial services. However, concern about the macro-environment continues to be a challenge. Among the top four - Tata Consultancy Services (TCS), Infosys, HCLTech, and Wipro - it is Bengaluru-based Infosys that has performed the best and that was evident in its full-year revenue guidance.
The Enforcement Directorate (ED) faced criticism from the Supreme Court for filing a "half-baked" reply in a bail matter related to the Chhattisgarh liquor scam. The court expressed dissatisfaction with the situation, questioning the accountability of the ED and its advocate-on-record. The ED's additional solicitor general, S.V. Raju, attributed the error to a miscommunication and assured the court that a departmental inquiry would be initiated.
Private equity (PE) activity in India between January and November 2024 recorded a total value of $30.89 billion across 1,022 deals, a 22.7 per cent increase in value and an 18.4 per cent rise in deal count compared to $25.17 billion across 863 deals during the same period in 2023. Notable large deals during the period include Walton Street India Investment Advisors at $1.5 billion, and KiranaKart Technologies at $1.35 billion.
Certain changes in the past two or three years could have a long-term structural impact on the IT services market.
The rising market poses a dilemma for investors on whether to continue buying, reduce equity holding, or exit equities altogether.
Uber Chief Executive Officer (CEO) Dara Khosrowshahi sees India as one of the toughest markets and a standard to succeed in any other part of the world. One of the biggest challenges for the ride-hailing firm, according to Khosrowshahi, is the expectation of Indian consumers for more services at lower spending. "India is one of the toughest markets out there.
After lagging behind benchmarks and broader indices over the past five years, real estate investment trusts (Reits) have outperformed them since the start of 2024. The four listed Reits have posted an average return of 16 per cent year-to-date, compared to 9.9 per cent for the S&P BSE Sensex and 11 per cent for the National Stock Exchange Nifty.
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