Despite the rally, on the basis of valuations, Indian markets aren't too expensive, says Christopher Wood, managing director and equity strategist at CLSA.
A normal monsoon, softer interest rates and inflation, pent-up demand, along with mild budgetary support may help growth pick up in coming quarters.
Rob Morrison, CEO of CLSA, says that investors at the forum are still positive on India. He adds that India has been outperforming its other Asian peers. \n
Despite the large economic impact of the Covid-19 pandemic, the markets have recovered sharply even though the performance among individual stocks has been quite polarised.
The company will finalise the final pricing for allotment of shares later.
CLSA expects annual net inflows of $15 billion from domestic investors over the next few years in India.
They either report a sales figure that shows clear signs of growth or future plans that indicate expansion in India.
Rural markets can provide 25 per cent growth over the next decade, says CLSA's Aashish Agarwal.
Rural markets can provide 25 per cent growth over the next decade, says CLSA's Aashish Agarwal.
Brokerage CLSA has raised its "already substantial overweight in India", its chief strategist Christopher Wood wrote on Aug. 7.
While the collapse of a large financial intermediary can wreak havoc on the system because of the interconnectivity, a large business conglomerate too can play spoilsport if the banks have too much exposure to the entity, explains Tamal Bandyopadhyay.
The divestment process, however, will not be an easy affair as there are multiple stakeholders, including the employee unions, whose concerns will have to be addressed.
Most of the 250 freshers Infosys hired from US campuses last year would be deployed in sales
If the latest strategy reports of some leading foreign institutional investors (FIIs) are anything to go by, then the outlook for the Indian equity market appears bleak. This is, despite section of experts pitching for the current attractive valuations.
Large pharmaceutical firms feel that if the quality parameters and assurance levels are brought up to the level of branded generics, then Jan Aushadhi medicines would find it difficult to retain their affordability.
Despite a massive underperformance at the bourses since the last six months, analysts are turning optimistic on Reliance Industries (RIL). Those at Jefferies, for instance, say that the company is a proxy play for India's consumption growth story. The key catalysts for the stock, according to a Jeffries note, include faster-than-expected market share gain in retail, oil-to-chemicals (O2C) stake sale, recovery in gross refining margins (GRM), potential public listing of Jio and even a possible banking licence going ahead. That apart, analysts feel any tariff hike in Reliance Jio (RJio) - its telecom venture - will also aid performance. With balance sheet adequately de-levered, proceeds from a strategic stake sale in the O2C business will create a sizeable war chest for the company, analysts say.
With inflation down, the government's twin deficits are largely under control.
Signs of "green shoots" in India came in the form of an ABN-Amro Bank purchasing managers' index based on a survey of 500 companies.
Bharti Airtel called the prices exorbitant while Vodafone Idea wants the auctions take place in 2020. The auctions need to happen when the infrastructure is ready for the roll out, be it in terms of fiberisation levels, or optimisation of equipment and software etc. Spending a hefty amount on a technology (airwaves) that at present offers limited returns is not going to be a priority for the incumbent telcos.
The IT industry has grown spectacularly in the past decade -- at least the export segment. The industry is at that critical inflection point where its multiplicative impact will start becoming visible and tangible.
RBI recently hiked LRS limit to $125,000 or Rs 7500,000 as on Aug 19 with $/rupee rate of 60
While Airtel may be pushed to to No 3, Jio will find it mighty difficult to beat the new entity.
The liquidity crisis at Dewan Housing Finance Corporation Limited (DHFL) has dented the fortunes of ace investor Rakesh Jhunjhunwala, who increased his stake in the troubled company in the March 2019 quarter (Q4FY19).
According to global equity research firm CLSA, the Indian market is still trading with a 'premium', although it has come down considerably.
Leading Indian companies-- ITC Ltd and Reliance Industries Ltd (RIL)-- have received top rating in Asia for their corporate social responsibility (CSR) initiatives, according to report by the Hong Kong-based brokerage and investment firm, CLSA.
PharmEasy, 1mg and Netmeds believe that their disruptive capabilities will power their brands despite the recent court ruling. The Drug Controller General of India recently directed all state FDAs to stop the online sale of medicines as per a Delhi high court order of last year.
Brokerage firm CLSA says in its interactions with government officials, measures such as the dollar-deposit scheme were under consideration.
Imported Ethane will substitute its current propane imports and a portion of naphtha used for ethylene production.
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The rupee resumed lower at 61.15 per dollar as against the last closing level of 60.77 per dollar yesterday at the Interbank Foreign Exchange (Forex) Market and dropped further to 61.44 per dollar before quoting at 61.40 per dollar at 1045 hours.
Industry experts are of the opinion that the spurt in recruitment happened as IT services firms went aggressive on hiring in anticipation of a strong demand environment.
Around 250 financial market players will participate in a closed door meeting with Narendra Modi on February 27.
Nomura analysts said the Reserve Bank of India and the government would need to segregate the potential solvency issue at DHFL from liquidity issues at other larger wholesale NBFCs and HFCs.
Stock selection in India remain relatively low-beta given the lack of any conviction here on any near-term upturn in the investment cycle
Reliance Jio saw fall in speeds from 7.2 mbps in September to 6 mbps in October, according to CLSA report.
Currently, TCS is India's second most valuable firm after Reliance Industries, which has a market cap of nearly Rs 12.9 trillion.
Reliance Jio submitted the highest pre-auction deposit.
The issue will comprise a secondary share sale worth Rs 600 crore by private equity major Everstone Capital and fresh fundraising worth Rs 400 crore.
The stock market comes full circle; pharma also gains prominence, courtesy rupee depreciation
Infosys is yet to announce its 2014-15 results.
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