Due to poor revenue mop-up, the government may miss it by 50 basis point.
'And America will invite India in to have really an extraordinary opportunity and relationship with us.'
Risks emerging from the US have left automotive investors worried. US President Donald Trump has announced 25 per cent tariffs on automotive imports, while global electric carmaker Tesla has taken its first steps towards entering India. While these developments are sentimentally negative for related stocks, it may be too early to conclude the eventual impact, analysts said.
The correction seen in the stock markets thus far is insufficient and there are significant downside risks, given the way macroeconomic data is shaping up, a Nomura equity strategist said on Thursday. "The markets are trying to look through the current stress we see in the macros. There are potential risks to the market. "Our estimates assume no major impact on growth and earnings. "The market should have been at least 5 per cent lower than it is now.
HSBC on Monday lowered India's GDP forecast for the current financial year to 4 per cent from 5.5 per cent earlier saying economic uncertainty is likely to weigh on the growth forecast in the coming months.
Indian stock markets have experienced some ups and downs in the first half of 2025. However, both the Nifty 50 and Sensex saw steady gains, supported by a healthy economy and better corporate earnings. In this article, we will look at the detailed performance of these key indices and explore the sectors that drove the market rally.
Nomura has forecast the rupee at 61.6 against the dollar in Q1 and at 62 by Q4 of 2015.
Info Edge (India) topped expectations in its October-December quarter (Q3) results, posting strong revenue and profit growth. Its shares have rallied as much as 6.14 per cent in two days. The technology holding company's revenue rose 15.2 per cent year-on-year (Y-o-Y) to Rs 722.3 crore, driven by robust performance across its key verticals, particularly its recruitment business.
Listed paint majors posted another lacklustre showing in the January-March quarter (Q4) of 2024-25 (FY25), with average revenue growth under 3 per cent. Sales were weighed down by Asian Paints - the market leader and the only major to report a year-on-year (Y-o-Y) decline.
'Invest only in stocks of those companies that deliver on earnings and there is earnings visibility too for the next few quarters.'
Investors should tilt their portfolios towards domestic-facing defensive sectors, which should help provide stability and shield them from geopolitical and tariff risks.
The Rs 6,145-crore initial public offer of electric two-wheeler company Ola Electric Mobility got fully subscribed on the second day of bidding on Monday, driven by demand from retail investors and non-institutional investors. The initial share sale received bids for 49,43,63,610 shares against 46,51,59,451 shares on offer, translating into 1.06 times subscription, according to the NSE data.
Steel maker JSW Steel's Q3 results, announced on January 24, 2025, after market hours, failed to meet Street expectations. The company reported a consolidated net profit attributable to the owners of Rs 717 crore in Q3FY25, reflecting a 70.3 per cent decline Y-o-Y, compared to Rs 2,415 crore in Q3FY24.
India's thriving mutual fund (MF) industry is drawing interest from several firms, with multiple applications submitted to the Securities and Exchange Board of India (Sebi) for asset management company (AMC) licences.
FDI inflows to India are picking up.
On an overall basis, Nomura believes the economic conditions are suited for equity markets. The brokerage is predicting the market performance will be better in the first half of 2020 and "somewhat weaker" in the second half.
After lagging behind the broader market over the past three and six months, defence sector stocks have regained ground, reversing their performance from the past month. Concerns about slowing order inflows, execution hurdles, supply chain disruptions, and high valuations had weighed on the sector.
Nomura, Japan's largest brokerage, is considering mergers and acquisitions in order to build its presence in emerging markets such as China and India , where it needs operating licences. Kenichi Watanabe, new chief executive, said on Monday that "the market environment is difficult but [we] consider it a major opportunity" to expand in areas where the company lacks competitiveness.
Describing the "lower agriculture output" as the "immediate challenge", Nomura said it could be a drag on GDP in the next quarter and on rural consumption. "But we expect urban consumption to rebound due to better job prospects," it said.
Blue Star sees the HVAC market suffering from declining orders and intensifying competition.
India's stock markets are experiencing a shift in investor sentiment, with a 30 per cent surge in Chinese stocks, prompting investors to move money from domestic markets to China. This reversal of fortunes is a notable change from the past three years, where China's losses benefited India.
Overall, volume growth is likely to be in the range of 3-8 per cent for two-wheelers and 5-7 per cent for passenger vehicles owing to healthy demand from urban and rural areas and pending order books.
Since Sanjay Malhotra took office as governor in December, the Reserve Bank of India (RBI) has adopted a more accommodative stance, which bodes well for banking and the economy as they navigate a growth slowdown, according to analysts.
Brokerages expect a further slowdown in Indian firms' revenue and earnings growth in Q4FY25, following low single-digit growth in the preceding three quarters, as factors like weak consumer demand and credit growth linger on.
Fast-moving consumer goods (FMCG) companies are expected to witness pressure on volumes in the October-December quarter. However, price hikes will help push up revenues, said brokerages.For India's largest engineering firm, Larsen and Toubro (L&T), the analysts expect a 20 per cent growth in consolidated revenue, and an 8.1 per cent core business Ebitda margin, up 40 bps from a year ago.
Reliance Industries' (RIL's) oil-to-chemicals (O2C) business is likely to remain under pressure for the remaining of the current financial year, according to analysts and company executives. "Management guides for softness for the next couple of quarters in both retail and O2C businesses," analysts at BOB Capital Markets noted in an after-results report on RIL. For the July-September quarter (Q2) of 2024-25 (FY25), RIL's O2C business reported a 5.1 per cent year-on-year increase in revenue to Rs 1.55 trillion.
Why has the shift from ICE to electric slowed down despite initial enthusiasm?
'We expect the Reserve Bank of India to deliver a 25 bps rate cut in April to support growth.'
A brilliant performance by teenager Khalin Joshi helped Indian golf team end a 38-year long medal drought and bag a bronze in the biennial Asia-Pacific Golf Championships for the Nomura Cup.
The narrative on China is changing post the recent stimulus measures, and it will be hard for global investors to ignore the Chinese markets.
Takumi Shibata, chief operating officer, Nomura Holdings, said, "India is one of the most important regions for Nomura's global expansion. Under the leadership of Vikas Sharma, president and CEO of Nomura India, and with a strong team combining Nomura and former Lehman Brothers' expertise in India, I am confident that our footprint in India will significantly expand." Currently, Nomura employs over 2,600 people in India.
Most global as well as domestic brokerages are upbeat on India's largest IT services provider, Tata Consultancy Services (TCS), despite its performance during the December quarter of FY25, when it missed Street estimates. On the bourses, the TCS share price rallied as much as 6.44 per cent to hit an intraday high of Rs 4,296.80 apiece, before settling 5.67 per cent higher at Rs 4,265.55.
Global financial services firm Nomura has sharply lowered India's growth forecast for this fiscal to 5.8 per cent, way below the government's projection, saying the country's monetary and fiscal policies are at loggerheads.
Goldman Sachs forecasts real GDP growth to accelerate to 7.9 per cent in FY17 from a projected 7.5 per cent in FY16.
Reliance Industries Ltd, India's most valuable company, is back on a growth path after six months of challenges as it posted better than expected earnings in the December quarter, brokerages said.
Global brokerage Nomura has increased its one-year target of benchmark BSE Sensex to 30,310.
Macro economic environment in India is expected to improve further and drive the BSE index, Sensex, to 33,500 by December-end.
The global demand recovery is likely to stay sluggish.
India's second-largest passenger vehicles firm will be valued at Rs 1.59 trillion at the top-end of the price band of Rs 1,865-Rs 1,960.
There are multiple laws dealing with insolvency in India, which lead to delays.
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