State Bank of India (SBI) chairman Rajnish Kumar, in conversation with Abhijit Lele, also says that the overhang of corporate debt stress will begin to recede in the next two-three quarters.
Export growth picked up mainly owing to rising global crude prices, which pushed up processed petroleum exports by nearly 40 per cent, apart from a broad-based improvement in exports of major foreign exchange earners such as engineering goods and gems and jewellery.
No financial details were disclosed.
IT majors weakened ahead of the September US jobs data and telecom stocks ended lower
Sensex dull at close, Infosys rules, ITC drags.
After 3 weeks of consecutive rally, this week was a breather for the index, which corrected by almost 1.5%.
The RBI left key policy rates unchanged and cut the GDP growth estimate for this fiscal to 5.5 per cent from 5.7 per cent.
The third quarter generally has more holidays.
For the seven months since February 2014, the benchmark index surged nearly 27%.
Listed Mumbai developers are battling higher inventory levels.
Investors will look at how TCS has performed when it announces the quarter's results on October 13, and the forecast from Infosys on October 14
In effect, companies which put their money in telecom in India would have done much better to keep the cash in bank and earn interest.
Reliance Industries was the top Sensex gainer up 5.6% after the company reported better-than-expected net profit growth at 12% in the second-quarter aided hby higher gross refining margins.
'The macro-economic stresses -- high interest rates, rupee depreciation and capital flows -- have receded now.' 'Interest rates have come down, inflation is down and the rupee has bounced back.' 'If oil prices continue at this level, there will be no vulnerability.' 'Growth is a different story.'
In an hour-long chat on rediff.com on Thursday, A K Prabhakar, senior VP and Head - Equity Research (Retail), Anand Rathi Financial Services Ltd, answered some important questions on the market.
The trio, 'twin shocks' of demonetisation and GST, 'twin balance sheet' problem that has been weakening India's banking system and the 'twin deficit' problem will continue to challenge economic management and performance in the year ahead, says Shankar Acharya.
Financials ended mixed despite the status-quo on key rates by the RBI. SBI, ICICI Bank and Axis Bank ended up 0.4-2.5% each.
The upcoming July derivatives expiry later in the week would also add some volatility to the market proceedings.
If GDP growth in Q2FY18 remains below 7%, the outlook for Samvat 2074 would remain uncertain at best, says Nitin Desai.
Despite superior margins, JLR hasn't had a smooth ride in China.
Reserve Bank Governor Raghuram Rajan is widely expected to hold the key rates citing high inflation at the fourth bi-monthly monetary policy announcement on Tuesday, even though the pro-growth lobby has been wishing for a rate cut.
Hyderabad-based Andhra Bank is aiming to get a significant proportion of the state government's business, to boost its share of low-cost deposits
Brokerages expect Nifty50 firms to post 11.8% growth in net profit in Q1 but sales may decline
Sensex lost 76 points to end at 25,589 while Nifty shed 23 points to end at 7,649.
