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.
The global demand recovery is likely to stay sluggish.
Global brokerage Nomura has increased its one-year target of benchmark BSE Sensex to 30,310.
Goldman Sachs forecasts real GDP growth to accelerate to 7.9 per cent in FY17 from a projected 7.5 per cent in FY16.
FDI inflows to India are picking up.
Food delivery platform Zomato has laid the foundation for its third vertical of growth by agreeing to acquire Paytm's entertainment and ticketing business, said analysts on Thursday (August 22). Zomato, which also runs a quick commerce business called Blinkit, will strengthen its 'going out' offering but the acquisition may take time to yield results, they said. "Paytm's entertainment and ticketing arm will be part of Zomato's District app, which is due to be launched in the coming weeks.
Takahide Kiuchi, senior economist with Nomura Securities does not expect the Bank of Japan, BoJ to raise rates. As per Kiuchi, the BOJ is likely to adopt the 'wait and watch' policy.
The Japanese bank agreed to help Manchester United supporters to thwart a takeover attempt by U.S. tycoon Malcolm Glazer.
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.
Macro economic environment in India is expected to improve further and drive the BSE index, Sensex, to 33,500 by December-end.
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.
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.
However, growth is expected to bounce back to an average of 7.3 per cent in the second half of 2017 and 7.7 per cent in 2018
The GST bill was earlier planned to be introduced from April 1.
Nomura has come a long way since launching its first India-dedicated fund six years ago.
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 government is likely to present a "run-of-the-mill" budget with an fiscal slippage to 3.7 per cent of the GDP in the next fiscal from an earlier target of 3.5 per cent, a Nomura report says.
Billionaire Gautam Adani-led group's power transmission unit has raised $1 billion through a share sale, the first public equity raise by the conglomerate since a damning Hindenburg report, which wiped away billions in shareholder value. Adani Energy Solutions Ltd raised the funds through a qualified institutional placement (QIP) issue, sources with direct knowledge of the matter said. The QIP, which opened on Tuesday, was oversubscribed three times with demand of about Rs 26,000 crore - making it the largest transaction in India's energy space.
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.
"We expect GDP growth to slow from 7.3 per cent year-on-year in July-September 2016 to 6.0 per cent in October-December 2016 and 5.7 per cent in January-March 2017," Nomura said in a research note.
There are multiple laws dealing with insolvency in India, which lead to delays.
'Investors looking at the next 6-12 months can be certain that the Fed will maintain its easing cycle, and we expect the overall environment to be conducive for fixed income investments for portfolio diversification.'
The agency said the move on liquidity will lead to an ease in the situation.
The scheme encourages retail investors to participate in capital markets.
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.
Due to poor revenue mop-up, the government may miss it by 50 basis point.
Japanese brokerage Nomura has said a Narendra Modi-led government will help the rupee jump to 58 against the US dollar and trigger up to a 10 per cent rally in the stock market.
Global firm Accenture's fourth quarter results prove that the worst is behind for the Indian information technology (IT) sector, said analysts on Friday (September 27). While the pace and the broadness of recovery is debatable, they said Accenture's results and revenue growth guidance for the next financial year (FY25) reduce downside risks for Indian IT companies.
'We expect the Reserve Bank of India to deliver a 25 bps rate cut in April to support growth.'
Yet another foreign brokerage has said that it expects Narendra Modi-led BJP to come to power after the Lok Sabha elections.
With the last quarter of 2023-24 (FY24) expected to have been soft owing to lower discretionary spend and macro uncertainty, many are hoping FY25 will be a year of recovery for the information-technology (IT) industry. The fourth quarter, January-March, is considered soft, and will continue to see the headwinds the sector has been facing. And the sector has entered the new financial year on a weak footing. Analysts are expecting Tier-I firms to report sequential growth of -1 per cent to 1.5 per cent and midcap players' growth may range between 0.7 per cent and 4 per cent.
While there has been a rash of growth estimate cuts, including a 0.70 percentage point reduction by the RBI last month to 6.1 per cent, the Japanese brokerage's estimate is so far the lowest.
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.
In the Budget speech, Arun Jaitley had first spoken about the need to have a range.
Nomura has forecast the rupee at 61.6 against the dollar in Q1 and at 62 by Q4 of 2015.
The 35-year-old is judo's most decorated athlete at the Olympics with six medals.
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.
Tata Motors is likely to exit the S&P BSE Sensex and the Nifty50 indices once the demerger process of its commercial vehicle (CV) and passenger vehicle (PV) businesses is complete, analysts at Nuvama Institutional Equities said. They have compared the development with Reliance Industries (RIL) and Jio Financial Services, which got listed separately and eventually (in the next few days) got excluded from the domestic indices.
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The trade deficit stood at $6.54 billion in February this year.
The insurance company has formed a four-member committee headed by LIC chairman TS Vijayan to decide the valuation of LIC Mutual Fund.
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