India's largest listed pharmaceutical (pharma) company - Sun Pharmaceutical Industries (Sun Pharma) - is expected to maintain its outperformance vis--vis the sector's, as its multiple bets on specialty products, improving product mix, recent acquisitions, and branded business are finding favour with brokerages. While it has gained 7 per cent over the past year, the Nifty Pharma Index is down 13.6 per cent. Its outperformance over two years has been fairly evident, with the market leader gaining 66 per cent to Nifty Pharma's minus 1.4 per cent.
A big change in the new IIP data, taking 2004-05 as the base year against 1993-94 in the old series, is its classification of items and the weights assigned to these.
Some recent forecasts suggest further weakness in the US economy.
Though the index of industrial production expanded 11.7 per cent in November, the Reserve Bank of India sees the recovery still skewed and says the uneven recovery would dominate the central bank's thinking.
CEOs have complained that high interest rates have blocked their investment decisions. At the same time, customers are also deferring their purchases for new consumer durables, cars, and homes.
The overall market breadth was positive as 1,599 stocks advanced against 1,246 declining ones, on the BSE.
Finance Minister Pranab Mukherjee today said that the economy was expected to revive in the second half of the year on the back of the latest Index of Industrial Production numbers, return of foreign institutional investors to the markets over the last two months and the normal functioning of the credit markets
International Monetary Fund Chief Economist Gita Gopinath tells Indivjal Dhasmana high-frequency indicators for the third quarter of 2021 indicate momentum in economic recovery in India.
Top gainers in the Sensex pack included Vedanta, ICICI Bank, ONGC, Kotak Bank, Axis Bank, SBI, M&M, Infosys, PowerGrid, HCL Tech, NTPC, Bajaj Finance and Reliance Industries, rising up to 2.72 per cent.
Developers grappling with labour shortage and getting construction material to sites could be among a list of problems.
After lagging behind other segments in the automotive (auto) space over the past few years, two-wheelers are expected to reverse their volume underperformance. After witnessing a 36.3 per cent volume decline over the 2018-19 (FY19) through 2021-22 (FY22) periods, the sector staged a recovery in 2022-23 (FY23), with volumes rising 17 per cent. While volumes are still a quarter lower than the FY19 peak of 21 million units, a double-digit growth trajectory is expected to prolong.
Having exposure to international funds and gold is a must for those who have foreign currency-denominated goals.
Keeping pace with the rapidly changing income and consumption pattern, the government will soon come out with a new Index of Industrial Production (IIP) and develop indices for measuring growth of SSI sector and calculating consumer prices in urban areas.
The S&P BSE Auto Index has been one of the biggest outperformers among sectoral indices over the past year with returns of 26 per cent. By comparison, the benchmarks - the National Stock Exchange Nifty50 and the S&P BSE Sensex - managed about 6-8 per cent during this period. Improving demand, falling raw material costs, and rising product realisations, led by the premiumisation of portfolios, have led to a revision of growth estimates and upgrades by domestic brokerages.
The growth in six core infrastructure industries slowed down to 3.4 per cent in June, against 5.2 per cent in the year-ago period owing to dismal performance of all but one sector - coal.
Since January 1, the rupee value has fallen by 5.5 per cent against the US dollar and touched life-time low of 58.98 on Tuesday.
Short-circuited by the lacklusture performance of electricity sector, the industry recorded a marginal slowdown in growth at 6.2 per cent in May this year compared to 6.4 per cent recorded in the comparable month of 2003.
Apple Inc's iPod upended the music industry, and its iPhone knocked Nokia off its smartphone perch, but Swiss watch makers breezily dismissed warnings that the technology giant's new wristwatch gadget could do something similar to them.
Sundararaman Ramamurthy has been an interesting choice for the publicly-listed BSE, which has seen its chief move to bigger rival -- the National Stock Exchange (NSE) -- in July. Having spent nearly two decades at the country's largest bourse, Ramamurthy is among the early architects of NSE and understands all the cogs of the exchange wheel like only a few others in the country. Just like NSE's core team, which includes its founder RH Patil, the 59-year-old Ramamurthy has worked at the Industrial Development Bank of India (IDBI) before moving to NSE in 1995.
Benchmark indices settled lower on Friday, with the Sensex declining 111 points on the back of a sharp fall in index heavyweight Reliance Industries. The BSE benchmark went lower by 111.01 points or 0.21 per cent to settle at 52,907.93. During the day, it tanked 924.69 points or 1.74 per cent to 52,094.25. The NSE Nifty dipped 28.20 points or 0.18 per cent to close at 15,752.05.
Starting with the third quarter of financial year 2020-21 (Q3FY21), we have seen "unlock" trades at various times. Whenever lockdowns have been eased, traders have taken long positions in consumer-facing businesses. Let's look at the logic. Since March 2020, sectors like retail, personal vehicles, hospitality, aviation, fast-moving consumer goods (FMCG), multiplexes, etc., have been under severe pressure. As a result, there's been a low base effect. Every company in these spaces has suffered top line contraction. Many suffered losses, especially in the first half of FY21.
An impressive performance by the manufacturing sector catapulted industrial growth to 7.8 per cent during the first four months of the current financial year.
Services sector slowed down in May on weak economic factors.
Exports rise for 8th month, albeit at lower pace
This growth seen by the consumer goods was led mainly by the durables market, which rose 17.6%, the highest in 11 months
TCS was the top gainer in the Sensex pack, rising over 3 per cent, followed by L&T, Bharti AIrtel, HCL Tech, Tata Steel, Bajaj Auto and Reliance Industries. NSE Nifty rallied 164.70 points to its fresh closing peak of 16,529.10.
The Union Cabinet on Thursday approved a revision in the formula for pricing of natural gas and imposed cap or ceiling price to help cut CNG and piped cooking gas prices by up to 10 per cent. Natural gas produced from legacy or old fields, known as APM gas, will now be indexed to the price of imported crude oil instead of benchmarking it to gas prices in four surplus nations such as the US, Canada and Russia, Union I&B Miniser Anurag Thakur told reporters after a meeting of the Cabinet. APM gas will be priced at 10 per cent of the price of basket of crude oil that India imports (Indian basket of crude oil).
Most of the economic activity in the country had come to a standstill after the government imposed a 21-day nationwide lockdown beginning March 25 to check the spread of coronavirus.
A majority of the respondents said that demonetisation is a positive step towards curbing black money and corruption from the economy, the move did have an impact on their sales.
The growth momentum in India's manufacturing sector was maintained in February, with new orders and output increasing at similar rates to January, according to a monthly survey. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) was at 55.3 in February, little-changed from 55.4 in January. The February PMI data pointed to an improvement in overall operating conditions for the 20th straight month. In PMI parlance, a print above 50 means expansion while a score below 50 indicates contraction.
The poor performance of capital goods - a bellwether for future growth - has alarmed most analysts
The wholesale price-based inflation bucked the 4-month rising trend in December 2021, and eased to 13.56 per cent, mainly on account of softening in fuel, power and manufacturing items even though food prices hardened. WPI inflation has remained in double digits for the ninth consecutive month beginning April. Inflation in November was 14.23 per cent, while in December 2020 it was 1.95 per cent.
On a day like this, the market breadth was predictably strong. Out of 2,827 stocks traded on the BSE, there were 1,629 advancing stocks as against 1,105 declines.
State-owned Indian Oil Corporation (IOC), Adani-Total Gas Ltd and Shell were among the 29 companies that bid and bought natural gas to be produced from the deepest field in the KG-D6 block of Reliance Industries Ltd and bp, sources said. IOC walked away with almost half of the 6 million standard cubic meters per day of gas sold in an e-auction on Wednesday while state-owned gas utility GAIL bought 0.7 mmscmd, Adani-Total Gas Ltd 0.4 mmscmd, Shell 0.5 mmscmd, GSPC 0.25 mmscmd and IGS another 0.5 mmscmd, two sources with knowledge of the matter said. Reliance-bp on Wednesday held an e-auction for sale of gas from the MJ field in their eastern offshore KG-D6 block after incorporating the government's new marketing rules to give CNG-selling city gas companies first priority over supplies.
The reopening of China has led to an ongoing readjustment of the global metals and commodities markets. China has a massive production capacity surplus to its own domestic demand. At the same time, it also has high domestic demand. China is also becoming carbon sensitive.
Though there may still be some headroom for growth, IEG's econometric model suggests there could be turning point downwards in the IIP growth cycle in the near future.
HDFC chairman Deepak Parekh on Friday exuded confidence that the synergies between HDFC Bank and the group companies will deepen with the bank taking on the mantle of ownership of the group following the reverse merger likely to be effective from Saturday. As chairman of HDFC Ltd, Parekh in the last message to the shareholders said home loans will now be complemented with HDFC Bank's core strengths -- its sales engine, execution capabilities at scale and deep insights on consumer behaviour. The reverse merger of parent HDFC Ltd with HDFC Bank is expected to be effective from July 1.
A sample of 1,248 companies saw net sales rise a whopping 39 per cent in the quarter ended June 2008 over that a year ago, as compared to 28 per cent in the quarter ending March 2008 and 16 per cent for the quarter ending December 2007.
The wholesale price-based inflation spiked to 12.54 per cent in October, mainly due to rise in prices of manufactured products and crude petroleum. WPI inflation has remained in double digit for the seventh consecutive month beginning April. Inflation in September this year was at 10.66 per cent, while in October 2020 it was at 1.31 per cent.
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