With economic activity buoyed by expectations from the new elected government of "Prime Minister Narendra Modi, India is benefiting from a 'Modi dividend'," the Bank said in its twice-a-year South Asia Economic Focus report on Monday.
The maker of Pulsar and Discover reported a net profit of Rs 1,138.20 crore in the second quarter, compared to Rs 1,402.42 crore a year ago.
The Southeast Asian nation has been focusing on modernising its military in the face of myriad security challenges as well as decades-long territorial disputes with China in the South China Sea.
'There will be a series of rate hikes, but the pace and quantum will depend on how the economy in the US and the rest of the world behave.'
India's Gross Domestic Product (GDP) is expected to expand by 9.2 per cent in the current financial year, according to the Economic Survey 2021-22 tabled in the parliament on Monday. "Advance estimates suggest that the Indian economy is expected to witness real GDP expansion of 9.2 per cent in 2021-22 after contracting in 2020-21. "This implies that overall economic activity has recovered past the pre-pandemic levels," Economic Survey noted. Almost all indicators show that the economic impact of the "second wave" in Q1 was much smaller than that experienced during the full lockdown phase in 2020-21 even though the health impact was more severe, it said.
Leading automakers Maruti Suzuki, Hyundai and Tata Motors on Thursday reported robust sales in March as a shift towards personal mobility and pent up demand continued to help companies push dispatches to their respective retail partners. Toyota Kirloskar Motor, Honda Cars and Mahindra and Mahindra (M&M) also reported strong sales last month as compared to the year-ago period, when dispatches were adversely impacted due to the impending transition to BSVI from April 2020 and the nationwide lockdown to contain the coronavirus pandemic. The country's largest carmaker Maruti Suzuki India said its domestic sales stood at 1,49,518 units last month. The auto major had reported sales of 76,976 units in March 2020.
The attack did not result in any human losses, it said, adding that the remnants of the intercepted and destroyed ballistic missiles fell in separate areas around Abu Dhabi.
Moody's has a 'Baa3' rating for India, with a positive outlook.
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.
Crisil Ratings on Wednesday said a broad-based recovery is on for India Inc currently, and upgraded its credit quality outlook to 'positive' from the earlier 'cautiously optimistic'. The rating agency said the credit ratio, which illustrates the number of upgrades to downgrades, rose to over 2.5 times in the first four months of the fiscal, as compared to 1.33 times in the second half of FY21, it said in a statement. The rating agency said it has also done a study of 43 sectors, excluding the financial sector, accounting for 75 per cent of the overall Rs 36 lakh crore in outstanding debt, which shows that the current recovery is broad-based.
The uptick in prices ranging from steel to wheat could benefit lots of commodity-based companies -- from State-owned SAIL to the agro exporters.
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.
'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.'
The employment situation remains dire. Whatever can be done to promote greater low-skill employment should be pursued aggressively, advises former chief economic adviser Shankar Acharya.
Karnataka, Maharashtra, Tamil Nadu, Telangana and Kerala have been ranked as the top five states in innovation in Niti Aayog's second Innovation Index released on Wednesday. The index, released by Niti Aayog's vice chairman Rajiv Kumar and CEO Amitabh Kant, has been developed on the lines of the Global Innovation Index. Jharkhand, Chhattisgarh and Bihar have been ranked at the bottom of the index. Karnataka topped the index for the second year in a row.
'The US will not want to tangle with China landwards.' 'Nor will the US confront the Chinese navy seawards on India's account.'
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.
The McKinsey report said faster employment growth at 12 million non-farm jobs annually is needed in the post-Covid period till 2029-30, up from just four million created each year between 2012 and 2018.
'Just because you don't see them does not mean they don't exist.' 'The greatest risk is overconfidence.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
Overall, Tata Steel becomes the seventh non-financial firm, including four oil PSUs to report quarterly revenues of Rs 50,000 crore.
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
India's manufacturing sector activity strengthened in December, with manufacturers stepping up production and input buying amid efforts to rebuild their inventories following business closures earlier in the year, a monthly survey said on Monday. The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) was at 56.4 in December, a tick higher than November's reading of 56.3 and above the critical 50 threshold for the fifth straight month. In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction.
India can be rated as among the best performing economies in the world
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.
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The fundamental debate remains where you stand on the long-term growth question. That is what every investor must monitor and come to their own conclusions, suggests Akash Prakash.
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.
On the profitability front, Crisil foresees a 0.5 per cent basis points y-o-y jump in EBITDA (operating profit) margins in Q2 FY15.
The market price action seems to point in this direction. Let's hope we finally break out. It is about time! asserts Akash Prakash.
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.
With a desirable package of styling, features and strong performance, the Jeep Compass is already a success in the Indian market, says Indian automobile website MotorBeam.com.
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
GST has been hanging fire with the Opposition Congress yet to come on board
We will find it difficult to exceed an average of 5 per cent growth in the medium term, warns Shankar Acharya, the former chief economic adviser.
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.
The turmoil on the Street and a continued fall of the rupee may affect growth stocks, pushing equity investors back to the relative safety of defensive counters, or forcing them to flee markets, or both.
T N C Rajagopalan on the new year and new worries.
Tucson is slated to be launched later this year
