Capital Goods production came at 10.6% , Electricity came at 8% but Composite IIP came at 4.1% up from less than 2% in January(1.14%) with Manufacturing at 4% overall. IIP is still at the lower end of the possible range. Janiary was revised down from 6.8% on sugar production data
Capital Goods and Electricity are back to highs after a -2.6% and 3.2% data scores for January 2012 Markets largely ignored the volatile data as Fenb and March GDP is already assumed to be further lower than December 2011. Consumer and durables data show great contraction 9available as inference)
Meanwhile the INR 40 bln infusion inoto Air India is hardly likely to suffice for the megalith which has run down its entire equity
Related articles
- India Earnings (Retail Lifestyle) – Earnings Surprise: ITC reports INR 71 B revenues but static EBITDA (awardz.wordpress.com)
- India and China Face Financing Barriers for Energy Efficiency Projects (prweb.com)
- India IIP Report: (September 2012) An incipient recovery may not take monthly comparisons
- India Trade Report (Flash October 2012) : Deficit Climbs
- India Morning Report: Markets to follow up another uptick from 5680
Discussion
No comments yet.