Macroeconomic data announcements, global trends and trading activity of foreign investors would guide momentum in the equity market this week, analysts said. Markets ended a five-week losing streak and gained nearly a per cent last week, helped by a sharp rebound on Friday. Last week, the BSE benchmark jumped 500.65 points or 0.77 per cent and the Nifty gained 169.5 points or 0.87 per cent.
According to bankers and economists, there is room for further rate cut by the RBI as retail and wholesale inflation rates have remained benign.
From January-March this year, 64,000 jobs were created in eight crucial sectors of the economy.
Global funds, according to Christopher Wood, global head of equity strategy at Jefferies, are now beginning to pay more attention to India with the market now offering 30 companies with a market capitalisation over $25 billion.
Finance Minister Arun Jaitley on Friday hinted at not raising tax rates and providing incentives for manufacturing.
The minister said this underlying resentment and pain of those countries regarding the global economy was building up for the last 15-20 years and the COVID-19 pandemic and the Ukraine conflict resulted in prices of energy and food items going up.
Its 'failure not just affects the military's effectiveness but could also be politically vulnerable for the BJP,' observes Ajai Shukla.
Chief Economic Advisor V Anantha Nageswaran on Thursday said the economy is expected to grow at 6.5 per cent in the current fiscal notwithstanding deficient rains in August. India recorded economic growth of 7.8 per cent in the April-June quarter of 2023-24 against 13.1 per cent in the year-ago period. India's economy in Q1 grew at the fastest pace in a year, on the shoulders of a boost in capital expenditure both at central and state levels, along with stronger consumption demand, especially in rural areas, and improved performance in the services sector, he said.
Manufacturers said they expect the growth of manufacturing sector to be less than 7 per cent.
'India is an equity market with a breadth and depth of companies to invest in.'
Foreign investment firms, especially private equity, are jittery about the Indian market as uncertainty continues to shroud the energy sector.
India on Wednesday voted in favour of a draft resolution tabled in the UN Human Rights Council that condemns and strongly rejects recent "public and premeditated" acts of desecration of the Quran.
'We are going to have hybrid cars, which, as far as I know, none of our competition is working on, and this includes ethanol.'
India and the US on Friday said they have started talks to put in place a strategic framework for human space flight by year-end as they plan to send an Indian astronaut to the International Space Station in 2024.
'Investors should ideally consider equity allocations from a medium-to-long term perspective.'
It has become common for our trade pundits to make emphatic claims that India is set to become the next major global manufacturing hub.
Apple's newest phone iPhone 14 will be made in India as the global tech titan bets big on the manufacturing prowess of the world's second-biggest smartphone market after China.
Home-grown companies, including electronics manufacturing services (EMS) firm Dixon Technologies and mobile device maker Lava International, have started exploratory talks with Chinese sub-assemblies and component players for setting up joint ventures (JVs) in the country. Sources in the industry say many domestic companies have also had preliminary discussions with original design manufacturers (ODMs) in China to look at a JV model for manufacturing smartphones. Key ODM players in mobile devices in China include Longcheer, Huaqin, and Wingtech, which has already set up a plant in Tirupati.
Ministerial consultations on, with recognition of the potential, and the need to not classify it under the same rules as for pharmaceuticals.
The 55 basis point (bps) spike in the US 10-year bond yield, triggered by a combination of FOMC's hawkish commentary and BOJ's relaxation of the yield control curve (YCC) has made analysts cautious on Asian equities and expect them to trade sideways in the short-to-medium term.
'You know the kind of force involved in all of this. They are not good for the country where all of this will happen.'
'Although mid- and small-cap funds have the potential for higher growth, they come with inherent higher volatility.'
The move is expected to create space for more budding entrepreneurs in the country to be eligible for self-certification, relaxed public procurement norms, rebate in patent filing, start-up funding, investment and easier closure compliance.
'Rhetoric and chest-thumping are running high on India's recent growth record.'
'But will the giant waves developing elsewhere allow us to sail smoothly into fair winds?' asks Debashis Basu.
Under the policy, which is applicable for all manufacturers, from two-wheelers to commercial vehicles, if a company is of the opinion that there is a manufacturing defect that compromises safety of vehicles, it will voluntarily rectify the problem free of cost to the customer.
PM also invited US-based GE and other global firms to invest in the defence sector.
The RBI's Monetary Policy Committee brainstormed the impact of any future shocks on the inflation trajectory and stressed monitoring the cumulative effect of monetary policy actions over the past one year, which is still unfolding, revealed minutes of the rate-setting panel released on Thursday. The minutes of the meeting of the Monetary Policy Committee (MPC), headed by Reserve Bank Governor Shaktikanta Das, also indicated it would be premature to declare an end to the monetary tightening cycle, which started in May 2022 to check high inflation following the outbreak of the Russia-Ukraine war. The central bank, which effected six back-to-back hikes in the key short-term lending rate (repo) since May 2022 to check high inflation, decided to take a pause early this month.
The more sectors contribute to growth, the more employment growth will generate. There are no short cuts.
According to official figures, retail inflation in June touched its lowest mark at 7.31 per cent since January 2012.
The key platforms that India has been exporting are Dornier-228 aircraft, 155 mm Advanced Towed Artillery Guns (ATAGs), Brahmos missiles, Akash missile system, radars, mine protected vehicles, armoured vehicles, Pinaka rockets and launchers, ammunition, thermal imagers and various components of avionics and small arms.
The government is preparing a draft policy for special investment regions that would be spread over an area of hundreds of kilometres and offer investors all the infrastructure for setting up manufacturing units.
Maruti Suzuki India (MSIL) has ambitious plans to increase capacity. It is also seeking shareholders' approval for a complex swap transaction, which would acquire Suzuki Motor Gujarat (SMG), a subsidiary of Suzuki Motor Corporation (SMC) through a preferential offer. SMC already holds 56.37 per cent of MSIL's equity.
Industrial production in May slowed to 2.7 per cent from 5.6 per cent a year ago, dragged down by manufacturing, strengthening the case for an RBI rate cut.
The ongoing key reforms such as sops for manufacturing, easier labour laws, wooing FDI inflows and privatisation will help improve productivity and support long-term growth at 7.5-8 per cent levels, which if played out well, can help India contribute 15 per cent of global GDP growth by FY2026, says a report. According to a report pencilled by the India economist at UBS Securities, Tanvee Gupta Jain, the country has the lowest manufacturing costs among peers, even though China retains significant ecosystem advantages and despite that India and Vietnam appear most likely to benefit from a shift out of China.
On December 21, MHA promulgated a draft Arms and Ammunition Manufacturing Policy, which allows the Department of Industrial Policy & Promotion (Dipp) to issue licence to large private companies that are capable of producing advanced weapons, and invest over Rs 50 crore (Rs 500 million), to manufacture arms and ammunition to be "primarily supplied to the Central Paramilitary Forces, Defence and state governments on tendering basis".
Legal battles initiated by 1,000-odd former employees of the Talegaon plant continue to present a challenge for the acquisition process.
HSBC PMI falls to 50.7, slow domestic demand offsets pick up from abroad.
We have the workforce, now we need to ensure that we take full advantage of game-changing technologies and geopolitical openings, suggests Jayant Sinha, chairman, Parliament's Standing Committee on Finance.
Singh made the remarks while addressing a "CEOs' Roundtable" at the 14th edition of Aero India at the Yelahanka Air Force station complex on the outskirts of Bengaluru.
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