India will catch up with China's growth at 7 per cent during 2016-17, the World Bank has forecast, saying India's economy has recovered in the wake of the economic reform measures taken by the new Indian government, falling oil prices and lower interest rates.
Analysts had on average forecast a net profit of 23.21 billion rupees, according to Thomson Reuters data.
Revising India's GDP upwards by 0.3 per cent to 6.3 per cent in 2015, Asian Development Bank (ADB) has said the economy shows a new promise of turnaround after the election brought a stable government in May.
On the Sensex chart, Sun Pharma was the top loser, followed by Maruti, L&T, Hero Motocorp, Infosys, ONGC and RIL.
Brazil now has a bigger economy than the United Kingdom.
'It is a package for a new self-reliant India.'
ICICI Bank was the top gainer in the Sensex pack, rising around 3 per cent, followed by Axis Bank, HDFC twins, SBI, L&T, ONGC and Infosys. On the other hand, Sun Pharma, Asian Paints, Nestle India, UltraTech Cement and HUL declined. NSE Nifty rose by 79.60 points or 0.67 per cent to 11,914.20.
'Once the lockdown is lifted, we will need the mother of all fiscal and monetary policy support to sustain the economy,' advises Akash Prakash.
The rapid deceleration in prices has ignited a debate in New Delhi whether Asia's third-largest economy is heading towards deflation.
'Companies with a strong business case and healthy balance-sheet should sail through and emerge more robust in the future.'
In prior elections, not only have opinion poll forecasts been very different from the results, the error margin has increased over time. One need only look at the charts that show the Sensex half a year before and after the results day for the last six elections. The markets did not change direction in any, says Neelkanth Mishra.
Possibility of higher growth and relatively cheaper valuations makes Street more positive on Infosys, says Sheetal Agarwal.
The UN Conference on Trade and Development (UNCTAD) said in a report on Monday that a lower but positive economic growth in India in the post-Covid-19 pandemic period and India's large market will continue to attract market-seeking investments to the country. The World Investment Report 2020 by UNCTAD said that India was the 9th largest recipient of FDI in 2019, with 51 billion dollars of inflows during the year, an increase from the 42 billion dollars of FDI received in 2018, when India ranked 12 among the top 20 host economies in the world.
The simultaneous decline of several trade-related indicators should put policy makers on guard for a sharper slowdown.
India's factory output climbed 22.4 per cent in March, benefiting from the base effect of the lockdown-marred month a year back as well as a turnaround in the manufacturing sector, while retail inflation slipped to a three-month low of 4.29 per cent in April. The high positive annual growth in the index of industrial production (IIP) in March 2021 came on back of a contraction of (-)0.9 per cent and (-)3.4 per cent in January and February 2021 respectively, according to the data released by the National Statistical Office (NSO) on Wednesday. This turnaround was led by recovery in the mining, manufacturing and electricity sectors.
Amid slowing growth and low interest rates, investors will need to focus on stock-picking, suggests John Remmert.
The surge in investment in manufacturing seems to have prompted the International Monetary Fund to increase the gross domestic product growth forecast to 8.4 per cent for 2007.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances