As yields dropped on the reform news, good news kept raining on the markets with Duvvoori Rao going ahead with the much pressured rate cut of 25 bp to give industry a chance to shore up the IIP froma low 0.1% last week to better reports than the expected turnaround in April 2013/June 2013. The … Continue reading
Markets have not gone nose up on news and thus are unlikely to go belly up by next week. As unexpected as it was and as fruitless it might be the sectoral runs in Aviation and Broadcast channels have been well left alone, the improvement in FDI regime resulting in gains of 3% (JET) … Continue reading
Mr Pranab Mukherjee can possibly land a 73% vote in the Presidential election later in the week as Mamata Bannerjee capitulates for a fellow Bengali. Early monsoon worries caused a big hole in the states of UP, Punjab, Maharashtra and even Rajasthan with more than 50% deficiency but Foodgrain production is already 257.44MT … Continue reading
Late Morning Trading strategies (DID you buy your ITC yet?) As the title suggests most of the activity is in the silent bond and currency markets with Indian bond rebound and unrelated yet unlikely dollar rebound sees hectic activity as accumulation continues n the suggested consolidation, the market having not seen any exits and the … Continue reading
Auto sales being okay for maruti, it has been hidden that Tata motors production is falling off a cliff an dmonthly auto sales from Renault, Ford , GM and VW have not been great either. Toyota alone ploughs through with Honda also contributing to positive variation since its closure thru 2011. Two heeler sales … Continue reading
Expiry Thursday means buying would not have picked up in July series and some are not quasi currency forwards for a change. IDFC Calls at 160 levels for example are cheap and buying should be done today and yesterday. Those avoiding options can sget into July series infrastructure futures in ICICI Bank and IDFC, ICICI Bank looking … Continue reading
India’a FDI process received a tremendous boost in March after $2 bln flows in January and February, itself a fair score were boosted to $8 bln for March even as international media slips into a morass susing the Indian voice and using their ignorance of India to blindfold and then play with Economic Darts ( … Continue reading
Global sentiment has again turned in favor of India as a leader of the trend of survival led growth, thaat is bleeding the best of developed world markets dry with expectations of QE fuelled growth that are increasinglytemporary growth humps on the chart and trending down like a dampening whale’s breath on each injection of … Continue reading
And like the jumbo jackpot in the sweepstakes, the CAG report choose to value the losses as every penny of extractable reserves from the Coal field allocations with 33000 MM Tonnes of coal realising a INR 10 tln loss to the exchequer or whatever new price is assumed. That is a bit like charging L&T … Continue reading
New National Urban Health Mission mooted, NRLM (Rural Literacy ) allocation increased AAjivika women self help – bank credit -> extended interest subvention ( eff rate 4%) NRHM allocation INR 208 bln Addendum: India to get its own Huijin as holding company for Bank Capital National Credit Guarantee Fund for Youth, Rural Development Fund!, National … Continue reading
REC’s revenues grew to INR 27 bln or $520mln in the current Q3 again building a 25% topline growth in rupee terms as a rupee lender, it will not face much losses from ECb/FCCB having finely priced QIPs as it reported a INR7.7 bln for the quarter or $ 154 mln REC grew advances to … Continue reading
Indian outbound FDI reached a $43.9 bln mark in 2011 till March 2011. This includes the Q2 purchase of Airtel Africa (Zain ) in 2010 in 15 African countries. It also includes the $3 bln and more purchases of Shale by Reliance across Pioneer, Atlas and other shale owners in the Marcelus and other shale … Continue reading
India’s first infrastructure debt fund is well on its way with the $1 bln corpus mooted by IIFCL successfully siloed for a launch of the fund in February 2012. the first fund will include IIFCL participation to 26% or $260 mln only as Asian Development Fund and HSBC chip in with $250 mln each for … Continue reading
The Bajaj auto effort to showcase the 3 wheeler market is an honest and probably remunerative strategy to capture latent non markets for consumer goods and durables in India as most categories have less than 50% attributable to brands and we have npot progressed beyongd the first few gains for brands last heard in the … Continue reading
