And why markets could give up 25 per cent of all these gains made since March 2020
The fall was led by L&T, IndusInd Bank, PowerGrid, NTPC, TCS, ICICI Bank, Axis Bank, Hero MotoCorp, Bharti Airtel and SBI, declining up to 2.64 per cent.
With their net debt estimated at Rs 1.15 trillion, the merged entity will not be in much of a position to dole out freebies, says Romita Majumdar.
Kerala floods take a toll on small businesses, NBFCs brace for losses
Among Sensex constituents, HCL Tech suffered the most by diving 2.26 per cent, followed by HDFC shedding 2.10 per cent.
While growth metrics for Infosys was skewed to a single vertical and it is struggling to get a handle on costs, TCS has been able to manage growth and keep cost inflation under control.
Analysts now expect India Inc to report a decline in both top line and bottom line for the September quarter.
The Hinduja Group, Mukesh Ambani, Murugappa, and the Adani groups were the other gainers in the Modi regime, while Naveen Jindal and Sun Pharma groups saw the most erosion in their m-cap in the last five years, reports Krishna Kant.
Second-tier NBFC stocks are trading at 24.4x their trailing earnings, which is nearly twice their 15-year average of 13.9x
The fall came on the back of a massive selloff in NBFCs, led by DHFL which skidded over 50 per cent on fears of a liquidity crisis.
Despite the onset of wedding season, the situation in apparel retail market remained unchanged and saw sharp decline in sales
A weaker rupee could aid corporate earnings through its positive impact on export intensive sectors such as information technology services, pharmaceuticals and commodity producers such as metal and mining, and oil and gas companies.
A weak rupee, though seemingly good for exporters, would push up input cost further for Indian companies.
The diesel car becomes too expensive with BS-VI and market assessment says the customer will not buy it at that price, says R C Bhargava, chairman, MSIL. He expects buyer preference to change swiftly in favour of petrol, CNG, and other alternative technologies.
With India's imports exceeding exports, weak rupee does more harm than good. Analysts, however, say that rupee depriciation is positive for export-oriented sectors such as IT services, pharmaceuticals, textiles and automobiles
The windfall from RBI may be used to trim borrowing, help fund Rs 3.3 lakh crore capex plan, capitalise banks and provide fiscal stimulus to some stressed sectors, experts and economists said.
Analysts say strengthening bank's capital will boost earnings, bank needs chief with long stint to run show
According to estimates, if the companies are not allowed to raise petrol rates at least Rs 5 a litre by the first fortnight of September, they might begin to suffer underrecoveries on this decontrolled auto fuel, too -- for the first time this financial year.
Crisis of growth is worsened by the challenging global environment and policy missteps. Returning to 9 per cent growth trajectory will be a tall order.
Shares of Motilal Oswal Financial Services, Edelweiss Financial Services and IIFL Holdings have all doubled in the past one year against the Sensex's 23 per cent gain.
Two-wheeler firms' profits to slow down following a double-digit decline in sales.
Most NBFCs will have to slow down their loan growth. Some of the most leveraged will have to sell a part of their assets (or loan book) to banks to raise incremental capital. Others may have to knock on the door of their deep-pocketed parents.
HUL, ITC, Nestle, Colgate, Dabur, Britannia, Asian Paints, P&G are trading at nearly 48 times. The previous record high was 53 times at the end of March 1994.
Centre took Rs 1,002 bn from here in 2017-18, sharply up from Rs 904 bn a year before and Rs 123.6 bn in FY14
With a loan book of $268 billion, India's retail banking is now ahead of Russia, Malaysia and Mexico but behind China, Brazil and Thailand
Crude oil prices have more than doubled, pushing up India's import bill and raising fears of a higher current account and fiscal deficit. This will impact corporate earnings.
Unless companies press the pedal on implementation, further stock price gains might be limited, says Hamsini Karthik.
NTPC to be the worst hit, stock slides to five-year low on announcement.
Analysts remain confident RIL's refining and petrochemical segment will continue to support growth.
The Nifty PSU Bank pared losses to end flat after falling as much as 1.05%
Indian CEOs might like to make some serious course correction.
Analysts believe total cost of production at Rs 1,000/tonne reasonable for power firms.
Inflows from Europe, falling crude oil to come to the rescue if rupee cracks against the dollar.
Most markets have seen significant erosion in investors' wealth this year
Total net debt-equity ratio improves for third consecutive year, while investment in new projects hits a 10-year low, says Krishna Kant.
The rupee has depreciated 2.35 per cent in the past three months and one per cent in the past month, despite strong capital flows and falling oil prices.
In the past three years, personal loans have grown at twice the rate of growth in personal disposable income, leading to a steady rise in household indebtedness. At the end of March this year, Indians owed Rs 25.2 lakh crore to banks and listed non-banking finance companies (NBFCs), up 65 per cent in the past three years.
Worries remain on earnings-valuations mismatch, global issues; resolution of the MAT row could be biggest positive trigger
Inflation trajectory does not match the slump in demand, prolonged pause on rates likely.
While such buying could indicate confidence in the business, investors should do a comprehensive evaluation before getting into the stock.
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