Retail sales of cars are back to January 2018 levels in August 2021. Two-wheeler retail sales are 22 per cent lower, nearly four years down the line.
RBI may go for a 25-basis point cut at its February policy meet.
Here is some background on the candidates seen as potential successors to Rajan at the RBI
The whole price index, used to measure rise in prices of a range of products in a consumer basket, stood at 9.06 per cent in May.
The order, a "negative" overall, will be a short term positive for corporate focused state-run and private lenders because of the possibility of delaying incremental stressed asset recognition.
Election results on Friday will determine the strength of the ruling coalition party Congress which will also determine market direction.
The economy is expected to throw up better numbers in the September quarter with GDP contraction of 9.9 per cent, as against 24 per cent in Q1 at the onset of the pandemic, says a report. The government will release the Q2 GDP numbers later this month. In the first contraction since 1980, the economy shrank a full 23.9 per cent in the first quarter of the fiscal after the whole nation was put under a strict lockdown.
India's electric mobility goal, which has so far been riding on two wheels, is all set to graduate to four wheels. At least, the journey has begun. Hyundai Motor India said it would invest Rs 4,000 crore till 2028 to launch half-a-dozen electric vehicles (EVs) in India. It would eventually straddle premium and mass segments. The first of these - the electrified version of an internal combustion engine (ICE)-powered model - will go on sale as early as next year.
The markets were expecting the government to borrow around Rs 3 lakh crore (Rs 3 trillion) during April-September 2010, out of total Rs 4.57 lakh crore (Rs 4.57 trillion) pegged for the entire fiscal.
Axis Bank, HCL Technologies, Maruti Suzuki, NBCC and Union Bank are their top five stock picks.
Industrial production (IIP) grew to a three-year high of 6.4 per cent in August, up from 4.1 per cent in July.
10 stocks which are most popular with brokerages right now and are expected to deliver maximum upside over the next 12 months.
'The news about the new virus strain in the UK provided them with an opportunity to take money off the table.'
Thus far in FY21, BSE, NSE have rallied 70 per cent and 71 per cent, respectively.
Though the number of Japanese foreign institutional investors in India is still negligible, it's significant that 8 of the 11 registered with Sebi entered in the past year and a half
The broad direction for the reform process will continue to be positive.
Pradip Shah, managing director, IndOcean, feels that although gold has done reasonably well, it doesn't really create too much value in the long run.
While Mukesh Ambani-led RIL posted a 108 per cent YoY rise in profit after tax for Q4FY21 at Rs 13,227 crore, it fell short of Bloomberg estimate of Rs 13,704 crore.
The Reserve Bank of India's (RBI's) move to ban Mastercard from issuing new cards for not complying with the local data storage guidelines may hit five private banks, a non-bank lender, and a major card-issuing company. The impact is expected to be felt for a few months as these players transition to other card networks. According to Nomura Research, RBL Bank, YES Bank, and Bajaj Finserv are the ones most impacted by the ban as all their credit card schemes are allied to Mastercard. Among others, IndusInd Bank, Axis Bank and ICICI Bank have 35-40 per cent of their credit card schemes tied to Mastercard, the report said.
Rising prices of food items and industrial goods are likely to push inflation to eight per cent in the next six months, much above the RBI's projection of 5 per cent, global financial services firm Nomura has said.
Japan on Friday extended a state of emergency in Tokyo and other areas by about three weeks to June 20 as the COVID-19 pandemic shows no signs of easing less than two months before the Summer Olympics open.
The government is expected to dole out some populist policies, especially for the rural / farm sector while presenting the interim budget, given that the country is heading towards general elections over the next few months.
In spite of a severe second wave of the coronavirus pandemic, and a widespread disruption in public life therefore, India's fast-moving consumer goods (FMGC) sector seems to have emerged as one of the most resilient segments of the economy. The early numbers and estimates for the April-June quarter indicate a steady recovery in FMCG players' business, which is now set to exceed the pre-pandemic level. Amid nationwide lockdowns because of the first Covid wave, FMCG revenues had been severely affected in mid-2020.
Telecom and petchem businesses will drive growth for RIL.
Auto companies are now grappling with a slowdown in sales, triggered by pent up demand due to the COVID-led lockdown easing a bit and supply-side issues for raw material.
On the Sensex chart, losses were mainly driven by Hero MotoCorp, Tata Motors, Axis Bank, Tata Steel, Maruti and SBI -- falling as much as 6.19 per cent.
The report noted that export volumes are likely to remain sluggish.
Despite the large economic impact of the Covid-19 pandemic, the markets have recovered sharply even though the performance among individual stocks has been quite polarised.
Wall Street brokerage Goldman Sachs has lowered its estimate for India's economic growth to 11.1 per cent in fiscal year to March 31, 2022, as a number of cities and states announced lockdowns of varying intensities to check spread of coronavirus infections. India is suffering the world's worst outbreak of COVID-19 cases, with deaths crossing 2.22 lakh and new cases above 3.5 lakh daily. This has led to demand for imposition of nationwide strict lockdowns to stem the spread of the virus - a move that the Modi government has so far avoided after the economic devastation last year from a similar strategy.
Analysts attribute the surge to a host of factors, particularly the interest shown by the retail investors in these two market segments.
The markets have been unable to sustain at higher levels as a rise in bond yields globally, especially in the US have dented sentiment. Surging commodity prices, especially crude oil that have now hit $70 a barrel (Brent) coupled with inflation woes and fear of sporadic lockdown across major economic hubs back home as Covid cases rise have chased the bulls away. In the short-term, analysts expect the markets to remain volatile as they react to news flow - both from overseas and developments back home. Investors, they say, need to keep a tab on how the US treasury yields move, which in turn will have a ripple effect on how big money moves across developed (DMs) and emerging markets (EMs), including India.
They believe that the key reason behind such a high growth rate could be "a steep downward revision" of the year-ago base period.
Investment in market leaders with a safety-first approach could yield reasonable returns across sectors.
Markets ended at record highs on Monday on hopes that the new government would unveil reforms in the infrastructure space.
The overall fiscal and inflationary consequences of the Food Security Bill for the country are "large" and will become clear from the next fiscal year.
The improving earnings and economic outlook has titled the scales back in favour of Indian equities this year, reports Pavan Burugula.
India can attract significant FDI, says experts.
Analysts say RBI will cut rates because the liquidity crunch that began this time last year is still hurting the economy and also with an eye on the August industrial production numbers, which showed a contraction by 1.1 per cent -- the steepest in seven long years.
While most experts suggest the government loosen its purse strings and not worry about the fiscal deficit in a pandemic impacted year, it will be a tightrope walk for the government to increase spending without going overboard.
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