Experts caution against tough times in Indian equity markets in 2015.
New series points to a sharp recovery since FY14.
Sandwiched between demonetisation, GST and other smaller policy changes, Gross Value Added or GVA may be a more reliable measure of economic activity over the next few quarters.
While markets are watching the rupee touch record lows, Paul Mackel, Head of Asia Currency Research-Global Research at HSBC, says the currency is not yet in a free fall.
Domestic airlines expect the fall in prices of aviation fuel to boost their earnings from the quarter ending December.
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
One of the reasons is the increasing number of upgrades in analysts' recommendations.
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Bank has cited trend of global easing and weak growth
The muted CPI inflation print at 5% earlier this week, followed by a similar WPI number released Wednesday, seems to have spurred India's central bank into action, is how the economists are reading into Reserve Bank of India governor Raghuram Rajan's 25 basis point cut in repo rate.
'Experts are not ruling out further pain as global factors cannot insulate India from the aftermath.'
It, however, remains to be seen how much money Softbank actually puts in, what the implied equity valuation is and if the e-commerce venture is included in the Jio entity.
Good performances by most information technology (IT) companies in the September quarter and improved forecasts notwithstanding, with the exception of Infosys, stocks of IT biggies such as TCS, Wipro and HCL Technologies have fallen three to nine per cent since Infosys announced its earnings on October 11.
Contract does not provide for retrospective penalty for 'such' acts
Indian equity markets had a good run in the first half of calendar year 2023 (CY23), with the S&P BSE Sensex and the National Stock Exchange Nifty50 hitting fresh 52-week highs. While the Sensex scaled up to a peak 64,718, the Nifty50 hit Mt 19,189. As the markets now prepare to enter the second half (H2) of CY23, all eyes are on global central banks, especially the US Federal Reserve, as to when they will pause and pivot as regards their interest-rate cycle.
India is likely to see over 100 mature, large-scale profitable or on the path to profitability startups in the next five years, of which 80 have the potential to go for public listing, market research and consultancy firm Redseer said on Tuesday. Redseer Strategy Consultants, in a report on IPOs, said 20 of the mature startups have gone public so far. "India may see over 100 matured, large-scale profitable/path-to-profitability start-ups in the next five years.
So which sectors are likely to do well in 2022? Should you focus on domestic economy-related sectors or export-oriented ones?
Indian frontline benchmarks - the S&P BSE Sensex and the Nifty50 - have rallied around 12 per cent each since June-end and outperformed their global peers by a wide margin. On Thursday, the US Fed hiked interest rates by another 75 basis points (bps) - the third such hike this year - and surprised the markets by projecting further sizable hikes in the coming months. With the latest hike, the Fed fund rate (FFR) now stands in the range of 3 - 3.25 per cent and is highest since January 2008.
The Budget loosened the reins on public spending to drive growth.
The task force will look at emerging markets, technology, regulatory and monetary policies, loss of trust in financial services, and financial inclusion.
The HSBC global research team has compared average annual fees and annual cost of living in 13 major study abroad destinations.
Notwithstanding expectations of a pick-up in construction activity during a seasonally strong January-March quarter (fourth quarter) of 2022-23 (FY23), analysts are cautiously optimistic about the building material sector - encompassing paints, pipes, wood panels, tiles, metals, and cement - as volatile input costs, coupled with fears of a global slowdown, are making demand projections uncertain. Against this backdrop, analysts suggest investors stay selective and pick stocks of companies with stronger brand recall, expanding distribution network, diversified product profile, healthier balance sheet, and sustainable cash flow. "The government's various proposals under Budget 2023-24 (FY24) may lead to the building material segment growing between 8 per cent and 12 per cent for the next five years.
But splitting management bandwidth by investing in non-core businesses will not be appreciated by the market in the long run.
However, some experts also feel that there is a case for front-loading of interest rate cut to give a push to the economy
Technically, the Indian economy is on road to recovery.
Airline says can't discuss dues publicly, denies grounding of planes
Exports of high-tech products will grow more quickly than exports of other goods over the next 15 years as emerging Asia moves away from being a low-cost production hub for foreign brands and toward developing value-added local products, according to research from HSBC.
Markets
History would indicate that a recession is not that far off.
After a stellar November that saw companies mop up over Rs 36,000 crore from the primary market via initial public offers (IPOs) and offers for sale (OFS), the current month, analysts said, will test investor's willingness to stay on with their investments as the one-month mandatory lock-in period for anchor investors begins to loosen. A note by Edelweiss Alternative Research suggests that in calendar year 2021 (CY21), 51 companies went public. Of these, 41 issuances' anchor selling dates are already over.
A slew of Indian firms, including Flipkart, Byju's and Zomato, is building a path to profitability and diversifying into newer business segments ahead of mega-IPO plans.
Most analysts expect the note ban to sharply hit GVA growth in Q3 and Q4, and the central bank's stance is being called into question.
With future prospects being difficult to predict, hiring for a short period is proving to be cost-effective
The pace of economic growth in emerging markets continued to revive from the stagnation seen earlier in the year.
Low home loan rates by banks could put large players in an advantageous position over smaller non-bank players, believe analysts.
HSBC maintained "overweight" rating on Indian equities, saying "fundamentals are strong".
AirAsia's rival airlines in India have kept themselves super-busy in the past few months -- by moving court against the former's launch, adding flights on the routes where AirAsia is operating, and engaging in a price war.
According to HSBC, the volatility in Indian markets since May can be attributed to the initial talk about tapering of bond purchase by the US Federal Reserve but the catalyst for recent volatility in Indian equities was when policymakers decided to tighten liquidity to stem capital outflows.
HSBC's purchasing managers' index was released on Tuesday.
India's working population relies heavily on cash deposits and a second home to generate post -retirement income, according to an HSBC report.
In India, it is not easy to fight it out with the large banks which are nimble-footed and technology-savvy and are continuously innovating on the retail turf with newer products for customer acquisition.
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