The October monthly deficit climbed to a $20.96B in India even as larger trade behemoths with monthly export volumes of $160-180 B in China and US returned higher surpluses ($32.5B) and lower deficits ($41.9B) spurred by jumps in Exports. Indian data is ofcourse skewed by both the rush for Oil purchases and a downtick in … Continue reading
will it, won’t it. A flavour thats missing from most mature markets and though SEA markets might still like to flatter JP Morgan and Goldman Sachs for their unlisted and pre IPO equity investments in these frontier markets and the shallower yet tepidly multi bagging SEA markets, the big moolah is in India and thats … Continue reading
Income of INR 1594 B produced a record INR 3.37B profits for the banker wannabe as Shriram Transport relied on Leasing Income to replace the more lending business friendly Gross and Net interest income. In its core Truck leasng business the industry leader is still moving all the gravy with a dominant 50% market share. … Continue reading
The fortnight ended December 16 data shows expansion in credit continues at much the same pace reaching INR 4.26 Tln or $82bln approx. having started a w-o-w uptrend since the last week of October. Deposits though shrunk by INR 365 bln, a large sum, even as Advance Tax payments for Ecember were due. Rates of … Continue reading
India raised $2.5 bln from ECB/FCCB as late as October. Most of the $2.4 bln in September and $2.5 bln in October is infra and Petro bonds. FCCB pending from 2007 are deep out of the money. Overseas investors having been caught in a firesale courtesy Europe, have been tough on their India FCCB holdings … Continue reading
As expected the Indian PMI numbers turned around from 49.7 in October to over 52 in November, indicating investors coming back and new orders and production picking up in November even as stock markets turned around faster from almost a fleeting bottom in a fast paced November Services growth was faster and more confident, PMI … Continue reading
Maruti’s numbers have trickled in at 36,000 vehicles more than October. The 92k in sales were yet 18-5% down from the festive season report of last year. The mood is sombre as markets find solace in car makers coming back with good numbers but it is obvious that that’s not enough for India to power … Continue reading
November buzzes everyone, December is too cold Sun comes out in the East, but the East is all sold! All the talk of potential markets in retail and consumption, engendering domestic demand ( in China) and even the imminent collapse of Europe ( not just not happening, in danger of engendering imprudent fiscal expenditure by … Continue reading
From a FC article of two weeks vintage, it becomes clear that not all the $10 bln FCCB debt holders in India ( FC says $8.5 bln outstanding) including Power sector projects, Kingfisher and the others like GMR Infra will be lost when interest payments and outstanding debt eat into their profits as FCCB / ECB … Continue reading
With credit picking up only in end September, the IIP figures for September trolled to an unimaginable 1.9% with consumer non durables reporting a -1.5% contraction(growth) from a 6% growth of last September and mining reported contraction of -5.5% The base effect and nature of bulk orders etc played truant with Capital Goods at … Continue reading
