'There will be positive growth, but if you ask me whether we are going to have the original growth rate of 8%, the answer will be, no.'
Reduction in customs duty on certain bulk drugs used in making life saving drugs to 5% is a positive for companies having product pipeline catering to these segments.
The current account deficit is the difference between inflow and outflow of foreign exchange.
Citing the massive surge in Omicron infections and the resultant impact on overall economic activities in the March quarter, Swiss brokerage UBS Securities has revised downwards its India's growth forecast for the current financial year to 9.1 per cent from 9.5 per cent earlier. However, UBS Securities does not see the third wave impact extending to the next financial year as it has revised upwards its real GDP forecast to 8.2 per cent, up from 7.7 per cent earlier, expecting the real GDP growth to remain well above the historical average. The World Bank pegs it at 8.3 per cent, unchanged from its June assessment, saying the recovery is not broad-based yet.
Market breadth ended weak on the BSE with 1,838 declines against 1,218 advances.
CRR cut does not rule out open market operations.
Bajaj Auto was the top laggard in the Sensex pack, tumbling around 6 per cent, followed by M&M, Reliance Industries (RIL), Tata Steel, Tech Mahindra, SBI, Axis Bank and ICICI Bank. NSE Nifty tumbled 162.60 points or 1.36 per cent to 11,767.75.
'If such inflows materialise, what will be the effect on the rupee's value -- and therefore on exports growth, the only sustainable path to recovery?', asks Mihir S Sharma.
'Gold could benefit from the resulting risk aversion, as happened last year.'
Industrialists affirm their belief that the adverse effects of demonetisation and the goods and services tax are finally over.
Says operating environment for Indian corporate sector has improved during FY15
The government plans to bring down its stake to 26 per cent in these two banks, which are yet to be identified. This may not come in the way of getting investors for these banks, provided the government is willing to step back rather than run them the way it had been doing for over five decades since these banks were nationalised, points out Tamal Bandyopadhyay.
ONGC is raising debt for a spate of acquisitions over the past year
The Nifty is up 6.5% in the last 12 months. The NSE IT Index is down 10% in the same period. But will the sentiment improve going ahead?
'Remember, if an app breaks the rules while giving you money, it will also break them while collecting.'
Market players said the sell-off was triggered by pessimism that the government may not be able to balance growth with macro-stability.
Maharashtra, the country's largest cane and sugar producer after Uttar Pradesh, had, over the past few years, weathered adverse market dynamics brought about by a domestic and global sugar glut, mounting arrears and muted exports.
India's exports are estimated to have remained at around $312 billion in 2013, while the final figures for 2014 could be around this figure only.
Indian companies are in a precarious financial position.
Stellar rally in ITC shares along with strength in the Asian equities capped the downside.
These measures are part of initiatives by these nations to attract Indian tourists, says Aneesh Phadnis.
The US Federal Reserve on Wednesday surprised the markets by saying it will continue with its monthly $85-billion bond buying programme and wait for more evidence of growth recovery.
Just one year after taking office, Prime Minister Narendra Modi is facing a challenge that could come to haunt him.
Nilesh Veera, director of APMC said, complained that availability of workers is a big problem. They have asked the government to provide enough sanitizers, masks, etc, for worker safety, to call them back. There has been no reply.
This time, RBI can cut rates to reflect the improved fundamentals and to further shrink the arbitrage window.
Bankers claim they have received good response to the roadshows held abroad for Coal India, IndianOil and PowerGrid.
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Q1 results indicate more pain ahead, as slowdown has spread to more sectors, pricing power has come down and rising interest cost is eating into profits.
'Demonetisation will push India onto a higher growth path after a temporary dip.'
Of the 40 CEOs polled from across the country, 60 per cent identified a fractured electoral mandate as a bigger risk than trade wars, volatile oil prices, and inflation.
Modi has taken a slew of measures to attract investment, but he has yet to initiate steps that could help repair corporate balance sheets.
The GST rate on mobile phones will be hiked to 18 per cent while that on maintenance repair overhaul (MRO) services for aircraft will be lowered to 5 per cent with effect from April 1, Finance Minister Nirmala Sitharaman said on Saturday. The GST rate on handmade and machine-made matchsticks has been rationalised to 12 per cent from 5 per cent and 18 per cent respectively.
India Inc did not perform well during December quarter.
Demonetisation will wipe out the likely benefits of a good monsoon this year, says Christopher Wood of CLSA.
The Budget will obviously be crucial. But US President Donald Trump may have even more of an influence than Finance Minister Arun Jaitley when it comes to sentiment, argues Devangshu Datta.
Delivering a public speech hours after the RBI launched a rescue act for Yes Bank on March 6, Governor Shaktikanta Das reiterated the RBI's affirmation to do whatever was needed to combat the coronavirus impact. On that day, India had only one confirmed COVID-19 infection, the World Health Organisation was five days off from declaring it as a pandemic and the financially debilitating lockdowns were not even on the horizon. Das' promise on efforts to mitigate COVID-19 impact appeared as a footnote in news reports from the event.
'At this point, it does not appear to be a Lehman Brothers kind of crisis, which had a domino effect on the financial system.'
What differentiates Rajan from his predecessors is his proactive steps in anticipating a problem and coming up with out-of-the-box solutions
The time the companies have to get ready for GST is 6 to 12 months.
The top gainers on the Sensex were Cipla, Bharti Airtel, Maruti Suzuki, Hero Moto & Sesa Sterlite.
A very delayed and subdued reaction, at a time when the non-aligned world had expected a big country like India to come out in support of rights and justice. It was yet another example of the mealy mouthed approach that has come to define Indian foreign policy, says Seema Mustafa.
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