Srikumar Krishnamurthy, Vice President & Co-Group Head, Corporate Ratings, ICRA, says the recovery or the bounce back post-COVID was pretty significant in the PV segment in particular and even compared to the global markets, we were outgrowing. There is some amount of elevated base that has crept in. So, factors like the pent-up demand and … Read more
Mumbai: Margin funding, where retail investors purchase stocks by paying 25% and brokers fund the rest for up to a year, hit an all-time high this week, when the broader market also climbed to a new peak. This increase in risk appetite reflects a prevailing sense of euphoria among retail investors, although market participants warn … Read more
Brokerage firm Emkay maintained a buy rating on ONGC and Oil India, Morgan Stanley remained overweight on Can Fin Homes, and CLSA has a buy rating on J Kumar Infra. We have collated a list of recommendations from top brokerage firms from ETNow and other sources: Emkay on Oil & Gas: Oil India and ONGCEmkay … Read more
The Indian economy kept its momentum, growing nearly a percentage point higher than expected at 7.6% in the second quarter, buoyed by the manufacturing and construction sector, with experts suggesting an upside to the full-year number. “Given the higher than forecast outcome for Q2, we are revising our FY2024 growth forecast to 6.2% from 6.0%,” … Read more
After hitting a near three-year high last week, the average cost on states’ borrowings has eased a tad this week’s auction by 4 bps to 7.67 per cent amid lower-than-indicated issuance. According to Icra Ratings, the weighted average cut-off or pricing of bonds eased by 4 bps to 7.67 per cent even as the supply … Read more
New Delhi: India’s merchandise exports rose 6.21% year-on-year to $33.57 billion in October, while the trade deficit swelled to a record as imports surged, buoyed by strong consumer spending ahead of the festival season. Gold imports almost doubled. The gap between exports and imports widened to $31.46 billion on the back of a jump in … Read more
New Delhi: The Indian economy likely expected 6.7% in the July-September quarter, according to a median forecast of 10 economists polled by ET, boosted by a strong performance by the services sector. The Reserve Bank of India (RBI) has forecast 6.5% growth in the quarter. Robust manufacturing and construction activity also likely contributed to growth … Read more
As India celebrates Dhanteras today, gold investors would be sitting on near 20% returns accrued by the yellow metal since last Dhanteras. As an asset class, yellow metal has outperformed its equity market peers in Nifty and the BSE Sensex during this period. Gold’s returns are neary two-fold in comparison to Nifty and Sensex which … Read more
The pent-up demand fuelled by pandemic time savings is beginning to peter out for goods, but may last for some more time for services, say economists. Overall consumer demand is also expected to come under pressure from tighter monetary conditions and lesser pull from rural India. However, high-end consumption is expected to provide some support. … Read more
New Delhi: India‘s industrial economy is expected to receive a festive bump, growing around 6% year-on-year in the next couple of months with improvement in monsoon rains, softening inflation, and election-related rise in spending adding to the festive sentiment. Industrial growth hit a three-month high of 5.7% in July from 3.8% in June. “You can’t … Read more