The analyst community tracking the Indian IT services industry took special note of Accenture's first quarter (Q1) performance, which showcased the rapid growth of its consulting business that outperformed its outsourcing business. Bookings indicate that the trend will continue. Consulting bookings increased 41.6 per cent year-on-year (yoy) to $9.4 billion, higher than the 17.6 per cent growth in outsourcing to $7.4 billion. The management commentary was also more bullish on the consulting business.
A majority of respondents expect the number of jobs generated to increase in 5 years.
The broader markets ended in line with the benchmark indices- BSE Midcap and Smallcap indices ended higher by 1.3% and 0.9% each.
'The government is sincerely working on employment generation. Unfortunately, they are depending on these people from Harvard. Their wrong policies are killing jobs. The government has to come out of the Western framework on which they depend upon a lot.'
Imports too declined by 16.31 per cent to $37.39 billion.
The estimates of national income and growth do not pass the 'smell test'.
Manufacturing of consumer goods, like food and liquor continued to improve in September.
The central bank has lowered its policy rate twice so far in 2015.
In a bid to gain a bigger share of the customer's wallet, banks are ramping up their cross-selling initiatives.
In all, RBI has cut interest rates by 110 bps this year. But this has not yet led to a boost in economic activity. While the growth rate has slowed to a five-year low, consumer confidence is waning and foreign direct investment has plateaued.
On the other hand, jobs increased for the 10th straight month in the manufacturing sector, albeit only slightly
We have our own problems for sure and they are not trivial, but for now, our economy is in not too bad a shape, our politics is as personality-driven and authoritarian as that of most countries in the world. We must make the best of what we have and not be excessively unhappy looking at the grass on the other side of the septic tank which may not be greener after all!, observes Shreekant Sambrani.
As global markets near all-time highs driven by liquidity, Marc Faber suggests most asset prices worldwide are inflated.
While foreign currency rating was retained at Baa2 -- the second-lowest investment grade score -- Moody's also projected a fiscal deficit of 3.7 per cent of gross domestic product in the year through March 2020, a breach of the government's target of 3.3 per cent.
The policy statement by the RBI governor is also expected to be upbeat.
Growth in the third quarter (October-December) is expected to be the weakest in years, with spending hit due to unavailability of enough replacement currency.
High growth is also much easier to log in a small business than in a Reliance.
While taking gold out of the closet to borrow money is no longer taboo in Indian households, the sharp drop in gold prices is hitting the newest loan product on the banking turf hard, explains Tamal Bandyopadhyay.
Hopes of revival and earnings growth in 2020, surprise tax cuts, and robust foreign flows - thanks to easy global monetary policies - are a few reasons why the markets have managed to digest the low GDP footprint. Select bluechips such as Reliance Industries, Bajaj Finance, Asian Paints, and ICICI Bank have gained sharply this year. On the other hand, YES Bank, Zee Entertainment, and Indiabulls Housing have seen a sharp fall.
India's GDP is poised to accelerate to 5.5 per cent in 2014-15 on the back of improved performance in industry and services but it may take some time for the country to reach its potential growth rate, says an Asian Development Bank (ADB) report.
In a recent report, BofA-ML suggests investors to track these six event risks in July apart from the Greek drama
Naukri.com's Hiring Outlook Survey for 2020 reveals the jobs and sectors that saw a surge in demand during the pandemic.
There are glaring anomalies with Indian data and that could lead to wrong policy prescriptions.
BSE Smallcap index outperformed the frontline indices to rise 0.6%, while the BSE Midcap was flat
Euro-zone growth could improve because of (a) reduced pace of fiscal tightening and (b) stronger exports, but weak domestic demand and a fragile banking system could increase deflation risks that could force the European Central Bank to turn further accommodative.
Sensex gained 38.18 points or 0.15% at 25,918.95 and Nifty ended higher by 12.50 points or 0.16% at 7,739.55.
Seeking to retain its manufacturing prowess, Chinese government has launched a "Made in China" campaign with a host of tax concessions coinciding with Prime Minister Narendra Modi's "Make in India" pitch.
Vistara has filed for slots at the Delhi airport and is also training pilots as it prepares for operations. The Delhi-London flight is being planned from mid-August, while services to Paris and Franfkurt would be launched later.
Noting that India continued to be the second fastest growing economy in the world after China, Finance Minister P Chidambaram on Saturday said people should not be worried about the current slow down and expressed hope of achieving six per cent growth this fiscal.
Does the rally reflect expectations of improving fundamentals or they are likely to correct?
In May, Satpal Singh, who runs a dairy business with three buffaloes in Jewar, near Noida, was worried about the steep spike in input costs. Singh said dry fodder rates, which cost Rs 1,500-2000 per tractor trolley last year, were quoting at Rs 4,500-5,000. The price of other cattle feed ingredients (that include mustard meal and similar mixes) had also gone up from Rs 2,000 per quintal to Rs 3,100-3,200 per quintal.
Even as domestic passenger car sales declined 29.4 per cent between April and August this year, exports grew 6.5 per cent, partially cushioning the blow from slowing sales.
India's economy could also suffer some ill-effects without necessarily triggering retaliation via higher tariff barriers against Indian goods, says Devangshu Datta.
Barring rice, spices, iron ore and pharmaceuticals, all the remaining 26 key sectors registered negative growth in May. Imports too plunged 51 per cent to $22.2 billion in May.
Notable losers were ONGC, Axis Bank, ITC, SBI, ICICI Bank, NTPC, Hero Motocorp, Sun Pharma and Bharti Airtel who fell by up to 2.80 per cent.
'You have to be a total anti-national bozo to shut down the Nokia plant in Sriperumbudur, which was the first large manufacturing plant for mobile phones in India.' 'Why was the unit shut down? Because of somebody's ego.'
Sales of refrigerators were higher this year versus last year.
Demand will boom in the US and China, but exporters say it will be difficult for India to tap these markets.
Market cap of government companies has remained unchanged in the past 8 years.
'Prime Minister Modi's message from Tuesday's meeting with industrialists was loud and clear: stand up India, stand by start-ups, take risk and invest,' says CII chief Sumit Mazumder.
