News stories about "slowdown" in India.

Reuters NEXT-BofA CEO expects soft landing for US economy

Bank of America (BAC.N) CEO Brian Moynihan on Wednesday reiterated his expectation of a soft landing for the U.S. economy, saying the lender was seeing a slowdown in consumer spending. Key Points

Reuters

ICICI Bank, Reliance will take the market to next level: Rahul Chadha

The current rally in the Indian market will be driven by the domestic sector, according to a statement by Rahul Chadha of Mirae Asset Global Investments. Investors should take a medium-term view as the next three to four months would be challenging due to the US economy slowing down which would affect the export sector. Although Indias luxury market is on an uptick, there are not many plays in that segment. Rremain invested in the Indian market by looking for entry points in the challenging times. Key Points

Economic Times

ET poll sees India's growth at 6.6% in Q3, 7% for FY24

Experts said the agriculture sector may have also contributed to the slowdown, even as industry and services kept the economy growing. The agricultural sector is expected to experience a pronounced slowdown due to diminished rainfall activity and subsequent declines in reservoir levels, said Rajani Sinha, chief economist at CareEdge. After a lower-than-projected kharif output, rabi sowing has exhibited a sluggish trend through most of the season, except for an uptick in the last couple of weeks, Sinha said. Key Points

Economic Times

Domestic consumption is cushioning Indian economy against global slowdown: Ajay Banga

World Bank chief Ajay Banga on Wednesday said that the domestic consumption is cushioning the Indian economy against a global on-going slowdown. India cushioned by domestic consumption despite global slowdown, PTI quoted him as saying. Key Points

Economic Times

Discretionary spending likely to revive only in second half of FY24

Consumers started reducing non-essential spending such as those on apparel, lifestyle products, electronics, and dining out since last year's Diwali, starting with mass-segment brands and in smaller towns. Companies said there is a slowdown in demand in cities since February-March. Key Points

Economic Times

Be careful about overtly optimistic IT cos; it will be tough for Reliance to disappoint: Sandip Sabharwal

Sandip Sabharwal is optimistic about the growth prospects of large banks in India, particularly ICICI Bank. He also highlights the railway investment theme as strong and suggests identifying stocks that can benefit disproportionately. In terms of IT, while there is a definite slowdown that could persist over the following year, there are specific companies with specific projects or businesses that will stand out. Key Points

Economic Times

WTO halves 2023 goods trade growth forecast to 0.8%

The World Trade Organization (WTO) has revised its global goods trade forecast for 2023, cutting it to 0.8% from the previous estimate of 1.7%. The slowdown in trade is attributed to factors such as inflation, high interest rates, US dollar appreciation, and geopolitical tensions. However, the WTO expects a 3.3% growth in trade for 2024. Key Points

Economic Times

With 8% weekly gains, Indian IT stocks shrug off US slowdown fears

The rally helped IT stocks shed the tag of underperformers as the Nifty IT indexs 1-year gains jumped to 24%, outclassing all its sectoral peers. The broader Niftys 12-month gains stand at 16%. Key Points

Economic Times

Tactical bets in bearish time: 6 metal stocks that can deliver up to 44% returns

It is normally said and there is enough evidence to support it, that if the market is falling because of fear of economic slowdown or there are fears of a recession, then metals would be the first sector to get hit. The question is whether this round of fall in the Indian market is due to those fears? The answer is most likely No. What the Indian market is witnessing is correction of valuations, which have gone extremely high due to excess liquidity chasing Indian stocks for the past six months. So, there is a good chance that sectors like metals which are more impacted by what is happening in China would be able to perform much better even in bearish times, as the Chinese government makes another round of effort to pull the economy out of the slowdown. Key Points

Economic Times

India is close to its potential output, needs reforms to accelerate growth: Pierre-Olivier Gourinchas, IMF

Consumption also seems to be softening. I think for India, the key to long-term growth is going to be really to unlock more growth in potential output. Key Points

Economic Times

Asian stocks slide, bond yields depressed as recession worries weigh

Investors were inclined to take money off the table after recent strong gains, and with many global markets off on Good Friday, when potentially pivotal U.S. monthly payrolls data is due. Key Points

Financialexpress

After a brief surge, private investment & hiring has again turned cautious. Focus is on cutting debt

Financial year 2022-23 saw private investments & hiring surge, but since then firms are using cash to reduce debt. General elections didn’t help matters, either. Key Points

ThePrint

Google, Amazon, other tech companies may soon pause hiring in India, job openings down by 90 per cent

The Indian tech space is feeling the impact of the global economic slowdown with major tech giants like Google, Amazon, Meta, and Apple reportedly slowing their recruitment processes. The active job postings by these companies have plunged by 90 per cent compared to 2022. Key Points

India Today

Ports expected to overcome headwinds with 4-5% volume growth in FY24: Ind-Ra

During FY23, India’s merchandise exports recorded a notable growth of 6.9% year-on-year, amounting to $451 billion. However, total export volumes fell 13% year-on-year, reaching 16.1 billion tonne. The signs of slowdown in the EU and US economies mirror the deceleration in their foreign trade with India Key Points

mint

For tech candidates, job switch doesn't pay what it used to; average hikes halve

Salary increases for tech recruits have decreased by more than half in the past year due to a hiring slowdown across the tech industry. Companies are no longer desperate to hire candidates with high-end niche tech skills at any cost. Average salary increases have fallen to 35-40% from 50-100% for roles such as full-stack engineers, data engineers, front-end engineers, SRE/DevOps, data scientists, and back-end engineers. This marks a significant slowdown from a year ago when candidates had multiple competing job offers. Key Points

Economic Times

India's pharma, meditech exports expected to sustain momentum despite global slowdown: Official

India's pharmaceutical and meditech exports continue to grow despite global economic slowdown, with robust double-digit growth. Government-backed drug development initiatives have 16 blockbuster molecules in the pipeline for cancer, diabetes, HIV, and more. The industry is also expanding in imaging devices, body implants, and diagnostics. Key Points

Economic Times

Wedding-related consumption remains muted amid fewer dates, slowdown

As per industry estimates, sales of categories like ethnic wear and wedding wear, gold jewellery and electronic household appliances have declined by 10-20% in FY24 till February as compared to the same period in FY23. However, luxury and premium products bucked the trend of sales decline mirroring the overall trend in consumption, chief executives said. Key Points

Economic Times

Advantage of large market size or annuity: 4 largecap stocks from different sectors with an upside potenti

There are some sectors where the macro structure is such that for one or the other reasons the overall growth is higher. This is not to say that growth comes without phases of slowdown, but when tailwinds come they are able to take care of all the slowdown and over a period of time, growth is much better. So, at times valuations are high, take exposure to stocks and sectors where at least there is high probability of growth ensuring that over a period of time, valuations get normalized. When we talk of market size it is not only India but in some cases global markets also. Second, look at business that is bound to grow as markets expand and every transaction brings in some money to the topline and industry structure is such that cost does not grow in the same proportion leading to higher and stable margins. Key Points

Economic Times

For all times: 5 largecap stocks from different sectors with upside potential of up to 31%

Whether it is the bullish or bearish phase of the markets, it always pays to stay with a better quality of balance sheet and in companies which have the ability to withstand the slowdown which every economy faces at different points of time. Especially when valuations are not cheap by any standard, it would be good to stay with large caps if one is thinking of increasing exposure to equity. ET screener powered by Refinitiv’s Stock Report Plus applies different algorithms & filters to all BSE and NSE stocks, and lists stocks which fulfill the various criteria as specified into the algorithms & filters to find those which might help navigate the stock market. Key Points

Economic Times

Japan's JSR slashes profit forecast on chip recovery weakness

Japanese chip materials maker JSR Corp (4185.T) on Monday slashed its operating profit forecast for the current financial year by 62%, citing a weak recovery in demand for semiconductors and a slowdown in the biotech market. Key Points

Reuters

Fast-food slowdown catches up with McDonald's India franchisee

Shares in India's Westlife Foodworld (WEST.NS) fell as much as 7.7% on Friday, a day after the McDonald's operator reported a surprise drop in quarterly profit and indicated high inflation was squeezing consumer spending in the current festive quarter. Key Points

Reuters

Electronic Arts launches 'FC 24' soccer game in fresh start after FIFA split

Electronic Arts (EA.O) on Friday launched its first soccer game without the FIFA tag, betting its "FC 24" title will maintain the momentum in its best-selling franchise and provide a bulwark against an industry slowdown. Key Points

Reuters

Big Tech looks to turn the corner on cloud as AI focus stays strong

U.S. tech giants could signal an end to the nearly year-long slowdown in their cloud businesses as signs of economic resilience encourage clients to boost technology spending, while a pickup in digital ads will also aid profits. Key Points

Reuters

Salary hikes low at handset companies

Some smartphone brands had put a section of underperforming employees under performance-improvement plans, many of whom eventually left the companies, industry experts said. Apart from the slowdown in demand and sales, the smartphone segment is dominated by Chinese firms that have been under the scanner of late and engaged in legal battles with Indian authorities. As a result, some of them have scaled back on their above-the-line marketing (comprising big TV campaigns) expenses. Key Points

Economic Times

Sensex surges 450 points, hits fresh record high; Nifty above 19,050

Indian shares rose on Friday, with the benchmarks scaling new all-time highs on improved sentiment following robust economic data from the U.S., which eased fears of a slowdown. The midcaps and smallcaps hovered around fresh record and 52-week highs, Key Points

Times Of India

India's Nifty, Sensex hit new record highs as strong US data lifts mood

Indian shares opened higher on Friday, with the benchmarks scaling new all-time highs on improved sentiment following robust economic data from the U.S., which eased fears of a slowdown. Key Points

Reuters

Handicraft exports likely to fall 6-8 pc in FY24: Report

Indian handicraft exports may witness a 6-8 per cent decline this fiscal to USD 3.3 billion, mainly due to a spending slowdown in global markets, a report said on Monday. A slowdown in discretionary spending in key global markets will drag the largely export-oriented Indian handicraft industry by 6-8 per cent lower to USD 3.3 billion this fiscal, after a decline of 20 per cent in FY23, Crisil Ratings said in a report. Key Points

Economic Times

Contra Bet! MFs bought 1 crore Infosys shares in May when FPIs stayed underweight on IT pack

Mutual funds have bought shares in Infosys, with ICICI Prudential AMC purchasing Cognizant Technology Solutions, Aditya Birla Sun Life AMC purchasing Wipro, and Mirae Asset Management buying Coforge last month. Although the mutual funds were inclined to overweight on the IT sector, risks of further earnings downgrades remain. While some investors argue that a slowdown is already priced into the shares, a weak earnings outlook from US major Accenture Plc persists, which quoted challenging global macroenvironment, clients curbing discretionary spending, and reduced annual growth guidance for the second time. Key Points

Economic Times

IT sector’s profit pie drops to 5-year low

The share has declined nearly 3 percentage points in the past year and is sharply down from 34% share in profits in the March 2020 quarter..The topline growth of the sector slowed to 12% from a year earlier from 26.5% in the March 2022 quarter Key Points

mint

Markets gain more than 1% helped by easing slowdown concerns

The Sensex ended the day up by 1.16% while Nifty was up 1.08% Key Points

mint

Morgan Stanley plans to cut 3,000 more jobs in latest round of layoffs: US media

The US investment and financial services giant said in a recent earnings report that its profit dropped 20 percent in the first three months of this year amid a slowdown in mergers and acquisition advising. The global financial institution at the end of last year trimmed about 2 percent of its staff or some 1,600 positions, CNBC reported at the time. The new round of cuts is expected to involve about 3,000 jobs. Key Points

Economic Times

Morgan Stanley’s Seth Carpenter makes the case for soft landing; says full-blown recession can be avoided

A hard landing in the US has become the base case for many economists, particularly after the recent banking-sector turmoil. However, Morgan Stanleys global chief economist, Seth Carpenter, believes there are still signs a soft landing can be achieved. Carpenter says that whilst it is hard to avoid the fact that the US economy will slow down, the Federal Reserve has a chance to avoid a recession by assessing whether there is enough evidence that things are slowing down a lot, but not yet crashing. Key Points

Economic Times

Indian MSMEs’ bottomlines hit by volatile commodity prices, exports face headwinds: CRISIL

The profitability of Indian MSMEs was impacted by volatile commodity prices in the previous financial year that ended March 31, leading to credit rating downgrades, rating agency CRISIL said. Raising concerns for the export-oriented sectors, CRISIL said it expects this year's export to grow at around 2-4% compared to its estimation of 5-7% growth last year. Key Points

Economic Times