Happy at the clear mandate given by voters to the BJP-led NDA, India Inc on Friday exuded confidence that Narendra Modi will initiate bold and decisive policy reforms to promote economic growth.
Prime Minister Narendra Modi delivered the customary Independence Day address to the nation after unfurling the Tricolour at the Red Fort. India is marking its 74th Independence Day under the shadow of the Covid-19 pandemic.
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The year 2014 was one of the most challenging years for India. For two consecutive years our GDP growth was sub 5 per cent. Employment generation had declined, the revenue buoyancy was low and the country had become investment starved.
Huge demand for dry bulk commodities such as iron ore, coal, and grain has helped the Index touch a five year high recently.
'Retail investors have been selling since the Budget and Foreign Portfolio Investors started selling.' 'Thus far, domestic institutions have picked up the slack, buying enough to keep the major indices from falling off a cliff.' 'However, there has been carnage in smaller stocks and the financial sector has been hit much harder than the major market indices,' points out Devangshu Datta.
On the revenue front, the finance ministry was expecting higher proceeds from non-tax revenue.
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The NPAs of banks stood at over Rs 3 lakh crore as on December 2014.
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Net profit grew 25.4% in Q4 but revenue growth, lower at 8.5%, suggests lack of volume expansion.
Mobile payments alone gathered close to $1.51 billion in the year 2017 through 13 rounds of funding, according to data compiled by Tracxn
'The manufacturing sector and the capital goods industry need all the support that the government can provide, because they are working in a global market where trade restrictions are coming down every day,' says Amar Kaul.
Markets could slide again owing to conditions in Europe and the US.
Ahead of the assembly elections next year, the BJP has been wallowing in a welter of ideas that has resurrected the debate on populism versus pragmatism, as it has to pander to two important but incompatible constituencies, of the freebie consuming masses and Bengaluru's heavy hitters craving for even roads, pristine lakes and unbroken power supply, reports Radhika Ramaseshan.
Govt is selling a stake in Coal India worth around $3.7 bn.
The average premium at $390 Main Japanese Port (MJP) was almost 47 per cent higher than 2013-14.
IMF, which has also lowered its global economic growth forecast for 2016 and 2017 by a marginal 0.1 per cent to 3.1 and 3.4 per cent respectively, recommended six 'reform priorities' for India
Modelled loosely around the National Highway System of the US, he in 2001 launched the Golden Quadrilateral and the North-South & East-West Corridor projects to build 4/6 lane highways between four top metropolitan cities of Delhi, Mumbai, Chennai and Kolkata as well as from Srinagar to Kanyakumari and Porbandar to Silchar.
If the economy gains momentum, that is a big positive for markets, given the strong macro of low inflation, falling rates, and a stable rupee, says Akash Prakash.
The report said forward-looking surveys and economic indicators along with rising business confidence provided hope that the decline in private corporate investment 'could be arrested' in 2014-15 and fresh investments of over Rs 1.2 lakh crore (Rs 1.2 trillion) 'could be realised'.
The government, he said, has implemented 'bold reforms'.
The 30-share Sensex jumped 729 points to end at 28,076 and the 50-share Nifty soared 217 points to end at 8,494.
The company's net profit went up 27% in December quarter, sequentially better than peers; core IT services up 33%..
According to the data released by Society of Indian Automobile Manufacturers (SIAM), domestic car sales in October this year stood at 1,59,036 units as compared to 1,63,199 units in the same month of 2013.
Analysts say loan growth, Casa ratio and exposure to sectors under pressure did not indicate any stress at United Bank.
The government has the power to allocate coal blocks to enterprises in specific sectors -- such as power, and iron and steel in particular.
Chinese alumina refining and metal smelting technologies have emerged as a match for the best anywhere in the world. In fact, Vedanta and Hindalco have bought technologies from China. Our aluminium makers will be haunted by twin fears of rising imports and low metal prices squeezing margins over a long time.
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.
The government has unleashed a slew of reforms to attract greater investments including higher foreign direct investment in defence and opening up the railways infrastructure sector, relaxed labour laws, launched campaigns like the Make in India for re-invigorating manufacturing, Clean India and Digital India, among others.
Auto makers are in the midst of a rally with the NSE auto index up 17.5 per cent since the start of February.
President Ram Nath Kovind addressed the nation on the eve of India's 75th Independence Day. Here's the text of what he said:
'Defaulters like Mallya can't be offloaded, but activists like me are. And that too for raising questions.' 'Today, what is the meaning of development?' 'Take over land, water and forest from the Adivasis and hand it over to corporates.' 'I am surprised how a minister who is supposed to protect the forests and the environment is happy reaching out to investors for more and more clearances.'
In its report 'Global Top Picks', Barclays expects the current bull market in global equities to continue, generating a total return of 9 per cent in 2015.
'Joko's re-election bid has been as tough as Modi's.' 'But in a curious reversal of roles, what Joko faced was a platform somewhat akin to Modi has chosen for himself to woo voters,' notes Ambassador M K Bhadrakumar.
With projects worth Rs 1,28,000-cr, the group hopes to become one of the country's biggest industrial houses.
Select companies in infra, capital goods, private banks, auto, oil & gas, and mining could be considered by investors.
Single window clearances for realty must.
New data is puzzling as these aren't corroborated by other data
An index P/E of 23 implies that the market is already discounting EPS growth at 20% or more, says Devangshu Datta.
The change in the baseline for IIP and WPI, currently at 2004-05, is expected to bring in more accuracy in mapping the level of economic activity and calculating other numbers like national accounts.
The prime minister said the opposition's hatred against him was reaching new levels daily and they have a competition over who abused him the most.
A large chunk of the Rs 8.8 lakh crore of investments the Patnaik government had attracted is in uncertain territory.
