The combined Index of Eight Core Industries stands at 188.0 in March, 2016, which was 6.4 % higher compared to the index of March, 2015. With this, the cumulative growth in core sector IIP comes to 2.7% for the full year. The Eight Core Industries comprise nearly 38 % of the weight of items included […]
Union Bank of India, one of India’s biggest government-owned banks, said non-performing assets — bad loans to the layman — rose to 7.05% of its loanbook as on December 31, 2015 from against 6.12% three months earlier. A year ago, NPAs, on a gross basis, was 5.08%. On a net basis, NPA ratio was at […]
Amid the slightly cautious atmosphere regarding a revival in Indian corporate earnings, Moody’s Investor Service has come out saying that it expects things to get better. It said most non-financial corporates it rates in India will benefit from strong domestic growth and accommodative monetary policy (lower interest rateas), although weak global growth and a potential […]
Hindustan Petroleum Corporation Limited, Indian Oil Corporation Ltd and Adani Ports and Special Economic Zone Limited are among the Indian companies that will benefit the most from the rupee’s depreciation against the dollar, while Power Grid Corporation of India Ltd, NTPC Limited, Bharti Airtel Limited and Lodha Developers Private Ltd will be among the biggest […]
Business conditions across the Indian manufacturing economy improved further in October, but purchasing manager index showed weakness, research commissioned by The Nikkei newspaper showed. October saw the weakest rise in output in current 24-month sequence of expansion and new orders increased at a slower pace. The Nikkei India PMI hit a 22-month low in October. […]
Equity markets across the globe, including and particularly emerging markets, will see a relief rally if the US Federal Reserve puts off a rate hike today, said Rohit Gadia, Founder & CEO, CapitalVia Global Research. US Fed will conclude its policy meet today and give clarity on the much debated rate hike. Indian markets are […]
Fitch Ratings said in a new report that pessimism over China’s short-term outlook is overdone and a growth pick-up in the second half is already in the pipeline. ‘But expectations for the economy’s growth potential in the medium term are shifting lower as the scale of the restructuring challenge becomes clearer,” it said. Global capital […]
Indian stock markets saw the biggest absolute decline (in terms of index points) today, with the benchmark BSE Sensex declining 1624 points and the Nifty down 491 points, or about 6%. The sell-off was triggered by global capital shift away from equities, which have been going up more or less uninterrupted for nearly five years. […]
In the midst of debate on the impact of slowdown in the Chinese economy on rest of the world, India’s engineering exports have started witnessing a negative fallout with a drop of 36 per cent in export of non-ferrous metals to China in June, 2015, an analysis by the EEPC India has shown. Exports of […]
BJP general secretary Amit Shah said the central government will ensure that funds generated by mines in eastern India are used primarily to develop the local economy and not channelled elsewhere and said the Center could deliver power to all villages in West Bengal within one year if the state government co-operated. Speaking at the […]
Indirect Tax Collections figures for the first four months of the financial year have pointed to an increase in the tax collection as compared to last year. Indirect tax collection for April-July 2015 registered increased by 37.6% over the same period last year, says the release published by CBEC. For July 2015, increase in indirect […]
In the tussle with neighboring state Telengana over attracting investments, Andhra Chief Minister Chandrababu Naidu has managed to win a small battle with the decision of Xiaomi to establish its first manufacturing plant in India at Vishakapatnam. Though an official announcement about Xiaomi’s India manufacturing has not been made yet, the company leaves very little […]
The following are reactions from industry experts and analysts on RBI’s monetary policy announced today. The central bank did not change key interest rates, which was in line with what the Street had expected. Repo rate remains unchanged at 7.25% and CRR remains unchanged at 4%. Kunal Shah, Fund Manager, Debt at Kotak Mahindra Old […]
Moody’s Analytics, a division of global ratings firm Moody’s, has warned that the current government at the center needs to start delivering on its reform promises as business confidence is starting to dip. The firm also warned that meddling in Reserve Bank of India’s powers to manage interest rates could have a bearing on India’s […]
SKS Microfinance Limited today announced that its gross loan portfolio excluding the states of Andhra Pradesh and Telangana registered a 15% quarter-on-quarter growth to Rs. 4,797 crore in Q1-FY16. Loan disbursements increased by 105% on a year-on-year basis to Rs. 2,377 crore in Q1-FY16 (Rs. 1,160 crore in Q1-FY15). During the quarter, the Company had […]
The trade deficit widened in June, partly due to a rise in non-oil-non-gold (NONG) imports, a key indicator of domestic demand. “Details within the import bill throws up two interesting developments – higher food imports to augment domestic supplies ahead of potentially weak monsoon rains and firmer urban consumption demand for electronics and transport equipment,” […]
Following a similar report from Monster India, the biggest hiring portal of the country — Naukri.com, has also pointed to a sharp increase in hiring in June this year. Naukri’s Job Speak Index for the month of June 2015 stood at 1749, up 11% over June 2014. Essentially, the index compares the number of new […]
European credit investors see more possibility of contagion from emerging market risks via Brazil than other major emerging markets (EMs), according to Fitch Ratings’ latest senior investor survey. Seventy-six percent of respondents to the survey, which closed on 2 July, selected Brazil when asked to choose two countries from a list of five where they […]
Moody’s Investors Service said that India’s base metals industry — aluminium, copper, and zinc — will benefit from increased demand, easing restrictions on raw material availability, and relatively low production costs. “We expect India’s consumption of base metals to increase by 8%-10% annually over the next three years, driven primarily by demand from three sectors: […]
The Indian economy is kicking into the high gear, going by hiring data from Monster India, part of the global recruitment firm Monster Inc. With a 32 percent YoY growth, the month of June has registered the highest increase in the online recruiting this year, the company said. The index reading was 202. Launched in […]
