Quarterly earnings from corporates, the US Fed interest rate decision and other global trends will be the major driving factors for determining movement in the domestic equity market in a holiday-shortened week ahead, analysts said. Besides, factors like trading activity of foreign investors, global oil benchmark Brent crude and rupee-dollar trend would also influence trading.
'Banks may find small ticket size lending economically unviable due to the cost of branch operations.'
Equity markets may witness a gradual up-move this week with some volatility as both election and earnings season are nearing their end, analysts said, adding that global trends and trading activity of foreign investors would hold significance in dictating investors' sentiment. Benchmark indices, which had a record-breaking rally last week, would also track global oil benchmark Brent crude and the rupee-dollar trend. The monthly derivatives expiry on Thursday may also fuel volatility in markets.
Infosys will comply with whatever regulations and guidelines Karnataka comes up with, a top company official said on Thursday on the proposed reservations for locals in private firms in the state. Infosys employs over 3.15 lakh people at present across the globe. "We are planning to work with all the regulations of the state and central governments.
Insurance companies reported nearly 23 per cent growth in first year premium in the first quarter of financial year 2024-25, when compared to the same period last year, with market leader LIC leading the charge with 28 per cent growth. According to the data released by the Life Insurance Council, the new business premium (NBP) increased by 22.91 per cent year-on-year (Y-o-Y) to ~89,726.7 crore in Q1FY25 from ~73,004.87 crore in Q1 FY24, reflecting a robust demand for insurance policies in the country.
Following a review of peer-to-peer (P2P) platforms, certain issues -- including high non-performing asset levels, significantly high balances in escrow accounts, and non-compliance with net owned fund and disclosure requirements -- came to the RBI's attention.
Mutual funds (MFs) scooped up smallcap shares across sectors such as healthcare, banking and financial services in March 2024 amid a near 4.5 per cent fall in key smallcap indices. Aster DM Healthcare, NLC India, and Aavas Financiers topped the list of most-bought stocks in the Rs 10,000-40,000 crore market capitalisation (mcap) bracket, according to a study by Nuvama Alternative & Quantitative Research. Aster and Aavas had corrected by 13 per cent and 10 per cent in March, respectively, while NLC India ended the month with a 2.5 per cent gain.
A strong influx of 11 equity new fund offers (NFOs) in June, particularly within the thematic space, helped mutual funds collect Rs 14,370 crore - the highest ever via such introductory offers. This surpassed the previous high recorded in July 2021, where four NFOs accumulated Rs 13,709 crore, with ICICI Prudential MF's flexicap NFO alone mobilising Rs 9,808 crore.
The ongoing fourth quarter earnings season, global factors and macroeconomic data would guide the trends in the equity markets this week, analysts said. Markets would also take cues from trading activity of foreign investors, rupee-dollar trend and movement of global oil benchmark Brent crude. "Domestically, the next batch of Q4 earnings reports will drive stock-specific movements, Hero MotoCorp, Larsen & Toubro, BPCL, State Bank of India, Eicher Motors and Tata Motors are some of the big names in the list and the next phase of voting," said Pravesh Gour, senior technical analyst, Swastika Investmart Ltd.
Indian food services sector is expected to grow at a CAGR (compounded annual growth rate) of 8.1 per cent between 2024 and 2028 on the back of rapid urbanisation, robust GDP growth, a rising younger population, and greater exposure among consumers, said a new report. The India Food Services Report-2024, brought out by the National Restaurants Association of India (NRAI), states that the sector contributes 1.9 per cent to India's GDP and is projected to grow to Rs 7.76 trillion by 2028 from Rs 5.69 trillion currently.
It is advisable to file your ITR right away and not rely on potential extensions.
A group comprising top tech startups and unicorns has raised several "serious concerns" over a platform-based gig workers Bill proposed by the Karnataka government, saying it would hurt the ease of doing business. They told the state government the Bill in its current form would hamper operations and increase regulatory and compliance burden on the nascent gig and startup economy, according to sources.
The spring/summer end-of-season sales have been advanced by a week with brands having high inventories due to weak demand in May because consumers avoided shopping in the hot month.
Fund managers are keeping cash in hand amid strong inflows and elevated valuations in the small and midcap space. Stress data shows that nearly half of the schemes in the smallcap space are holding cash of 5 per cent or more at the end of February 2024. By comparison, only 20 per cent of the midcap schemes had over 5 per cent cash in their portfolio during the same period.
So far this year, bankers have earned Rs 1,226 crore for handling 45 IPOs, which together mobilised Rs 48,363 crore.
The Reserve Bank on Wednesday approved a Rs 2.11 lakh crore dividend payout to the central government for 2023-24, more than double the amount it paid for the previous 2022-23 financial year. The decision was taken at the 608th meeting of the Central Board of Directors of the Reserve Bank of India held under the chairmanship of Governor Shaktikanta Das.
Despite steady loan growth, the banking sector is expected to report subdued margins in the quarter ending June 2024 (Q1FY25), driven by high demand for deposits amidst tight liquidity conditions. However, according to Bloomberg analysts, listed banks are forecasted to see a 14.5 per cent year-on-year (Y-o-Y) increase in net profit. Estimates showed that banks' net interest income (NII), and revenues from interest minus interest expenses might grow 11.9 per cent Y-o-Y.
While other backward classes had a share of 9 per cent, there were no scheduled tribe billionaires.
A taxpayer who does not revise their return within the stipulated deadline would be stuck with the original return, including its errors.
In her Budget speech, Finance Minister Nirmala Sitharaman on Tuesday underlined the need for collaboration between the Centre and states to take up the next-generation reforms covering land, labour, capital and entrepreneurship. As far as revenue share goes, the government has projected to give about 32.5 per cent of central taxes to states during FY25, against the 15th Finance Commission's recommendation of 41 per cent, according to the Union Budget estimate.
The fallout from the Justice K Hema Committee report on harassment and abuse in the Malayalam film industry intensified on Monday as a case was filed against well-known filmmaker Ranjith, and several female actors stepped forward with disturbing accounts of the mistreatment they faced at the hands of their various male counterparts.
'IPOs have performed exceptionally well, with a notable increase in average ticket size from Rs 800 crore in the last financial year to around Rs 1,300 crore in this financial year.'
Commercial banks have turned cautious in lending to smaller microfinance institutions (MFIs), which has compelled the latter to borrow from non-banking financial companies (NBFCs) at much higher rates. Recently Reserve Bank of India (RBI) Deputy Governor M Rajeshwar Rao slammed micro lenders for increasing their margins "disproportionately" and said these lenders were quick to pass on the increased cost to the borrowers but reluctant to pass on the benefits under the new regime, where margins are not capped.
"The Union government has authorised the release of tax devolution of Re 72,961.21 crore to state governments for the month of November 2023, on 7th November instead of the usual date 10th November," the Union finance ministry said in a statement.
'Asset allocation should be driven much more by long-term factors rather than the market scenario at any particular point in time.'
The Reserve Bank of India on Friday retained its projection for retail inflation at 4.5 per cent for the current fiscal assuming a normal monsoon, while emphasising that uncertainties related to food price outlook warrant a close monitoring. Consumer Price Index (CPI)-based retail inflation has been projected at 4.5 per cent with quarter-wise projections at 4.9 per cent in Q1 (April-June), 3.8 per cent in Q2, 4.6 per cent in Q3, and 4.5 per cent in Q4.
Indian real estate market remained buoyant in January-June this year, with housing sales hitting an 11-year high at 1.73 lakh units and office demand at a record 34.7 million square feet across eight major cities, according to Knight Frank. On an annual basis, housing sales rose 11 per cent to 173,241 units while leasing of office space grew 33 per cent to 34.7 million square feet during January-June this year across eight major cities. Shishir Baijal, chairman and managing director, Knight Frank India, said, "India's real estate market has been buoyant in the last few quarters owing to the strong economic fundamentals and stable socio-political conditions."
Younger people, who usually have a longer investment horizon which allows them to handle the interim volatility, may go for them.
The wholesale price index (WPI)-based inflation rose in December at 0.73 per cent mainly due to a sharp rise in food prices. The WPI inflation was in the negative zone from April to October and had turned positive in November at 0.26 per cent.
'The youth is stressed and students are depressed.'
As Rahul Gandhi resumed the Bharat Jodo Yatra in Nanded district on November 9, Uttam Ghosh/Rediff.com spoke with yatris who have walked from Kanyakumari for more than 63 days.
Domestic macroeconomic data announcements, global trends and trading activity of foreign investors would guide market sentiments this week, analysts said. After a record rally, markets may face volatile trends this week amid elevated valuations and investors would also keep a track of global oil benchmark Brent crude and rupee-dollar movement for further cues. "Potential volatility in the stock market is anticipated this week. Elevated valuations remain a concern, with investors now focusing on monsoon progress and its impact on the rural economy.
Amid a debate on the basis of a monetary policy stance, one may be curious enough to know how non-food retail inflation has behaved over the years in India. Let the eager souls catch a glimpse of facts. In the past 10 years, non-food inflation came down below 4 per cent on two occasions - pre-Covid period of 2019-20 and now in the first four months of the current financial year (FY25).
The Indian economy continues to sustain the momentum achieved in the first half of 2023-24 and expectations of a fresh round of capex by the corporate sector is likely to fuel the next leg of growth, the Reserve Bank Bulletin said on Tuesday. "The likelihood of the global economy exhibiting stronger than expected growth in 2024 has brightened in recent months, with risks broadly balanced," said an article on 'State of the Economy' published in the bulletin.
'PPF carries minimal risk.' 'Its fixed-income nature allows investors to diversify their portfolios.'
Sebi has barred Ravindra Bharti Education Institute, co-founded by finfluencer and YouTuber Ravindra Balu Bharti, from the securities market and directed to deposit Rs 12 crore "unlawful gain" earned from the alleged unregistered investment advisory business. It has been directed to deposit the amount to an interest-bearing escrow account created specifically for the purpose in a nationalised bank. Additionally, the regulator has barred Ravindra Balu Bharti, his wife Shubhangi Ravindra Bharti and directors -- Rahul Ananta Gosavi and Dhanashri Chandrakant Gosavi -- from the securities market.
'Every report I filed for Rediff.com on the professor's incarceration, would leave me wondering for days, at the depth of the State's malevolence towards this disabled professor, and his equally deep capacity to tolerate it,' recalls Jyoti Punwani.' 'No country in the world would do what our country was doing to someone so helpless.'
Net foreign direct investment (FDI) in India, inflows minus outflows, declined 38.4 per cent year-on-year to $15.41 billion in the first 10 months of this financial year due to an increase in the repatriation of capital. According to the Reserve Bank of India's data in the March 2024 bulletin, FDI in India was $25.53 billion and outflows were $10.11 billion in April 2023-January 2024. In the same period last year, FDI inflows stood at $36.75 billion and outflows at $11.75 billion.
Worries related to the Iran-Israel conflict, quarterly earnings and foreign investors' trading activity are the key factors that would dictate stock markets this week, analysts said. Besides, trends in Brent crude oil and movement of the rupee against the dollar will also be crucial factors. This week will be crucial for the market amid ongoing worries about the conflict between Iran and Israel, said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
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