India GDP to grow 6-6.3% in FY24, economic prospects brighten: Deloitte India
India is likely to grow 6-6.3 per cent in FY24, Deloitte India said in its economic outlook, forecasting growth surpassing 7 per cent over the next two years if global uncertainties recede. There remain significant uncertainties around the actions of the central banks of major economies and the oil price movements, the economic outlook said. Key Points
Economic TimesJack Ma's family trust to sell Alibaba shares amid US export curbs
US News: Alibaba Group Holding reported a 9% increase in revenue for Q3, reaching 224.8 billion yuan ($31 billion), in line with market expectations. However, Key Points
Times Of IndiaStock picks of the week: 4 stocks with consistent score improvement and upside potential of up to 31%
While some of the uncertainties which the global equity markets were facing have come down with indication by US fed that interest rates are not likely to inch upward. The valuation risk still remains, it would better to stay focussed on stocks where analyst score have gone up due to one or the other reasons. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame. Key Points
Economic TimesStrong private consumption major driving force of India’s eco growth: Fin Min Eco Review
The Indian economy is experiencing strong private consumption, which is driving economic growth. Two new drivers of growth have also emerged: a gradual strengthening of investment demand and firming up of industrial activity. However, there are downside risks from global headwinds and uncertainties in weather conditions. The government aims to contain the budgeted fiscal deficit to 5.9% of GDP by FY24. Key Points
Economic Times