Overall, the credit profiles of players will be supported by healthy balance sheets and liquidity. Prudence in capital and development expenditure, efficient working-capital management, and recent equity raising will help sustain credit metrics in FY22.
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.
With India's imports exceeding exports, weak rupee does more harm than good. Analysts, however, say that rupee depriciation is positive for export-oriented sectors such as IT services, pharmaceuticals, textiles and automobiles
The uptick in prices ranging from steel to wheat could benefit lots of commodity-based companies -- from State-owned SAIL to the agro exporters.
It won't be an easy ride for the markets, reckon experts, considering the multiple state elections in 2018 and general elections next year.
The early bird results for the January-March 2022 quarter (Q4FY22) hint at a slowdown in corporate sector growth in the upcoming quarters. The combined net sales of the 81 early bird companies in the Business Standard sample were up 15.1 per cent year-on-year in Q4FY22; this was less than the 15.9 per cent YoY jump reported in Q3FY22. The slowdown could be much stronger for the domestic market-focused companies, including those in the banking, finance, and insurance (BFSI) space.
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The ongoing elections and overall subdued market sentiment continue to affect the sales momentum
'For those looking at forward-looking signals for the economy from the stock markets, the relative performance of small and mid-caps may be a better indicator of the future than the index levels of the narrower and more popular indices', says Neelkanth Mishra.
According to research firm Counterpoint, Apple was one of the fastest-growing brands in India during the December quarter. This was driven by multiple price cuts on its XR device, thanks to local manufacturing in India, it had said. It added that the rollout of new iPhones (11 series), aggressive pricing and a good channel strategy was helping Apple gain market share in India.
The FPI holding in India's top 100 companies, which are part of the Nifty 100 index, declined to 24.23 per cent on average at the end of March this year, from a high of 27.5 per cent at the end of March 2021. This is the lowest FPI holdings in India's top listed companies in at least three years. A general sell-off by FPIs has weighed on stock prices and the benchmark S&P BSE Sensex is down 8.5 per cent, from its 52-week high made in October 2021. Most analysts expect FPI flows to remain weak in FY23 as well, given rising bond yields in the US and an expected earnings slowdown in India due to high inflation and commodity prices.
Maruti Suzuki India (MSI) on Monday reported a 29.1 per cent rise in total sales in October.
The rupee appreciated 7 paise to 79.74 against the US dollar in early trade on Thursday as a positive trend in domestic equities supported the local unit. However, a strong American currency overseas and forex outflows restricted the rupee's gain, dealers said. At the interbank foreign exchange, the rupee opened at 79.72 against the American dollar, then went lower to trade at 79.74 against the greenback in early deals, registering a gain of 7 paise over the last close.
Overall, Tata Steel becomes the seventh non-financial firm, including four oil PSUs to report quarterly revenues of Rs 50,000 crore.
Indian economy is likely to rebound with an 8.9 per cent growth in the fiscal year beginning April 2021 after economic activity showed significant improvement in the last quarter, IHS Markit said on Friday. The National Statistical Organisation (NSO) on Thursday predicted that the economy will contract 7.7 per cent in the current financial year ending in March, the worst performance in four decades.
During September, Maruti said it dispatched 1,375 units of the soon-to-be-launched sedan Ciaz.
Maruti recorded 20 per cent jump in sales during November.
A fall in the rupee could boost exports. But the flip side of the equation is that a weaker rupee could stoke some inflation
Sales of the compact segment comprising Swift, Estilo, Ritz, Dzire and Baleno increased by 4.1 per cent to 50,362 units
Another year of strong performance by these export-oriented sectors likely as US economy revives and rupee is expected to be under pressure.
GST has been hanging fire with the Opposition Congress yet to come on board
While the Budget might have been a sentiment booster for the sector, firms with market dominance emerge as favourites.
'It is only when Beijing sees a country with an infirm political will such as India that it acts up as the PLA has done in eastern Ladakh.'
Maruti, Hyundai, Tata Motors, Mahindra & Mahindra and Honda saw their passenger vehicle sales improve in August compared to the same month last year, although Ford and Toyota witnessed a decline.
Year 2017 will be a benign year for FII flows into India feels Akash Singhania, deputy chief investment officer, DHFL Pramerica Asset Managers.
'The US will not want to tangle with China landwards.' 'Nor will the US confront the Chinese navy seawards on India's account.'
Corporate India's earnings in the past two quarters were largely driven by the rupee's sharp fall versus the dollar in the second quarter of this financial year.
Sales during the quarter under review stood at Rs 9,357 crore, up 12.42 per cent, as against Rs 8,323 crore in the corresponding period of the last fiscal
Capital flows have become much more skittish and volatile during this period, with short-term horizons dominating allocations.
The country's demographic dividend is dissipating, with seriously adverse consequences for young India, asserts Shankar Acharya, former Chief Economic Adviser to the Government of India.
Both Sensex and the rupee posted slight gains on Monday but Brexit concerns lingered.
'The economy will pick up in 2020 or a little later... When it picks up, will it reach 10%, 8% or still lower? It all depends on how realistic are the diagnosis and the prescriptions that follow,' says Professor K J Joseph.
Country's largest carmaker Maruti Suzuki India (MSI) on Monday reported 8.7 per cent increase in total sales in February.
EV players suggest a reduction in the goods and services tax on batteries from 18 to 5 per cent as it would help push demand.
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Expectations of strong results, consistent performance and investors preference for stocks in the defensive space help the sector outshine broader markets.
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The market price action seems to point in this direction. Let's hope we finally break out. It is about time! asserts Akash Prakash.
Reliance Industries Ltd's focus on the next hypergrowth opportunities in clean tech and its path to decarbonisation has the potential to spur re-rating, raises clarity on investment cycles and reduces investor worry, brokerages said. RIL chairman Mukesh Ambani at the company's 'Green AGM' on Thursday committed Rs 75,000 crore over the next three years to set up an integrated Green Energy Giga Complex across 5,000 acres in Jamnagar, Gujarat which will contain four giga factories. The complex, which would be one of the world's largest renewable manufacturing facilities, would have an integrated solar photovoltaic module factory, an energy storage battery factory, electrolyser manufacturing for hydrogen production, and manufacturing of fuel cells so that hydrogen can be used in transportation.
HSBC maintained "overweight" rating on Indian equities, saying "fundamentals are strong".
