Automobile, pharma, tourism sectors expected to grow at rapid pace: PM Modi
Automobile, pharma, tourism sectors expected to grow at rapid pace: PM... Key Points
The Tribune IndiaAutomobile, pharma, tourism sectors expected to grow at rapid pace: PM Modi
Automobile, pharma, tourism sectors expected to grow at rapid pace: PM... Key Points
The Tribune IndiaAutomobile, pharma, tourism sectors expected to grow at rapid pace: PM Modi
Automobile, pharma, tourism sectors expected to grow at rapid pace: PM... Key Points
The Tribune IndiaAutomobile, pharma, tourism sectors expected to grow at rapid pace: PM Modi
Automobile, pharma, tourism sectors expected to grow at rapid pace: PM... Key Points
The Tribune IndiaIf growth rate is not over 6%, India will remain lower middle economy by 2047: Raghuram Rajan
The former RBI chief said some southern states are growing with regards to population at below reproduction rate, in other words, the fertility rate has fallen below reproduction rate thus slowing the growth. In other words, we will start the process of aging at some point around that time, which leads to the alarming question if we don't grow faster, we will grow old before we grow rich, which means we all have all the burdens of an aging population to deal with also at that point, he opined. Key Points
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Deutsche Boerse forecasts increases in revenue and EBITDA through 2026
German exchange operator Deutsche Boerse (DB1Gn.DE) expects revenues to grow by around 10% each year on average through 2026, the company said on Tuesday as part of its strategy update. Key Points
ReutersMoody's affirms RIL's Baa2 ratings; outlook stable
Moody's expects RIL's consolidated EBITDA to grow by around 14% to Rs 1.7 lakh crore (around $21 billion) for the fiscal year ending March 2024, supported by strong growth in its consumer businesses, comprising digital services and retail, as well as its upstream oil and gas segment. Key Points
Economic TimesShould you put your inner child to bed? Life Hacks by Charles Assisi
Unresolved issues can prompt impulsive and destructive behaviours. It takes effort to let go of the fear that the world will not provide what we need. Key Points
Hindustan TimesIndia has to grow at 7.7% for next 23-24 years to become developed nation by 2047: Subba Rao
Duvvuri Subba Rao says: “India needs to focus not just on accelerating the growth rate but we also need to generate job-intensive growth. We need to focus on inequality and on generating jobs in order to ensure that we become a developed country by 2047. We used to learn in economics that economic growth trickles down but now we know that economic growth actually trickles up and inequalities are widening across the world and within India.” Key Points
Economic TimesGDP likely to grow at 6.5-7.5% in FY24: CEA V Anantha Nageswaran
It is probable that the 7.2% GDP growth reported for fiscal 2023 could be revised upwards during data revisions, Nageswaran said, speaking at a Confederation of Indian Industry event in Lucknow. He said it would be possible for India to grow for a longer period of time, a decade or more, without running into overheating problems because of its sound economic policies, the infrastructure built in the last eight years and digitisation gains. Key Points
Economic Times
Fantastic fungi and where to find them: Mycophiles in India
A new crop of mushroom-lovers are promoting a wide variety in India, as health food, health supplement and even eco-friendly packaging. They want you to know that The Last of Us has it all wrong, so wrong. Key Points
Hindustan TimesFMCG will continue to grow but there will be a shift from mass to niche brands: Anand Ramanathan, Deloitte
Anand Ramanathan says: “Overall the market looks good, particularly rural India and hence as demand strengthens, some of these pressures of inflation will soften. Also, 60-70% of an FMCG brand's cost comes from the cost of raw material and therefore, inflation and geopolitics and commodity prices, etc, have impact on pricing which many a times they are not able to pass on to the consumer.” Key Points
Economic TimesIMF revises India’s FY25 growth forecast upward to 6.5%
The finance ministry in its economic review before the budget has projected Indian economy to grow close to 7% in FY25. The multilateral institution projected Indian economy to grow 6.7% in FY24. The first advance estimate released by the government earlier this month pegged FY24 growth at 7.3%. Key Points
Economic TimesWe want to rapidly grow our business in ethnic wear: Ashish Dikshit
"The merger, however, will take longer. Having said that, if we had gone in for an all-cash deal, it would have been an excessive burden on ABFRL's balance sheet, which we did not want," Dikshit said. Key Points
FinancialexpressDMart Q4 Preview: PAT expected to rise up to 44%; margins likely under pressure
Retail chain DMart's revenues are expected to grow in double digits, while margins may contract due to lower discretionary spending and higher store addition. DMart's net profit is seen rising by 19-44% according to an average estimate of five brokerages. The company added 18 new stores bringing the total to 324, and sales per sq ft may remain under pressure due to larger store sizes and lower discretionary and general merchandise sales. Consolidated revenue is expected to grow by 35% YoY to INR 11,870 crore, with adjusted revenue estimated to grow ~12% on a like-to-like basis. Key Points
Economic Times
India set to grow at 6.5% for rest of decade: CEA V Anantha Nageswaran
V Anantha Nageswaran said capital investment in the country will be higher in this financial year which will help India grow at 0.5 to one percentage point higher than that projected by various ratings agencies. Key Points
Economic TimesTechnical Analysis: Nifty down, but not out
The US economy would eventually slow down and may enter a mild recession. India, on the other hand, would continue to grow at a robust pace and stand out among the larger global economies. Key Points
FinancialexpressIndia needs to grow at 9-10 pc to become $35 tn economy by 2047: Amitabh Kant
India targets a USD 35 trillion economy by 2047, needing consistent 9-10% annual growth. Amitabh Kant foresees surpassing Japan and Germany by 2027. Large companies are key for transformation and supply chain development. Key Points
Economic TimesSBI Q3 Preview: PAT may fall on higher operating expenses; NII growth muted
Net interest income is likely to grow around 6% year-on-year (YoY) in the December quarter, according to an average estimate of five brokerages. Net profit for the same period is seen declining 12% YoY. Key Points
Economic TimesIndia poised to become USD 5 trillion economy; challenge is having 8-9 pc growth for next 3 decades: Kant
Amitabh Kant has said that India will become a $5 trillion economy but the challenge for the country will be to grow at 8-9 per cent for the next three decades. Kant added that India's economy will have to grow at 10 per cent to catch up with China. Key Points
Economic Times
India to clock GDP growth of 6.5% in FY24: Ex-NITI Aayog vice-chief
The Indian economy will grow at around 6.5% in the current fiscal as the country’s macroeconomic situation is benefiting from the reforms that have been taken up in the past nine years by the Narendra Modi-led government, former NITI Aayog vice-chairman Rajiv Kumar said on Monday. Key Points
The Tribune India'India will remain lower middle income till 2047...': Raghuram Rajan weighs in on country's growth potential
Former RBI Governor Raghuram Rajan said if India does not grow fast economically, it will grow older demographically before it gets richer. He also hinted towards the burden of an ageing population to deal with at that point. Key Points
mintSun Pharma Q3 preview: Consolidated PAT may rise 8% YoY amid moderate revenue growth
Sun Pharmaceutical Industries Ltd is expected to report single-digit revenue growth for Q3 earnings, with moderate sales in the US and India. Analysts predict a nearly 8% YoY growth in consolidated net profit to Rs 2,329 crore. Consolidated revenue is estimated to rise 9% YoY to Rs 12,265.40 crore. Key Points
Economic TimesPaytm Q2 Preview: Revenue to grow up to 40% YoY on healthy loan disbursals; losses to shrink
Adjusted EBITDA (before ESOPs) for the quarter is likely to improve further sequentially to Rs 175 crore, compared with Rs 84 crore in the preceding June quarter. Paytm narrowed its losses to Rs 357 crore in the quarter ended June. Revenue from operations during the quarter rose 39% to Rs 2,342 crore. Key Points
Economic TimesPublic digital infrastructure helped micro level players grow in India: FM Sitharaman
India's use of public funds to build its digital infrastructure has allowed even small businesses and individuals to benefit, Finance Minister Nirmala Sitharaman said on Saturday. This approach, she added, has allowed India to experience a digital revolution that has connected even the most remote corners of the country to global markets. Key Points
Economic Times
GDP set to grow 8% or more in Jan-March quarter: FM Nirmala Sitharaman
Nirmala Sitharaman projects 8% GDP growth for India in Q4 and 2023/24, focusing on inflation management and macroeconomic stability. The Reserve Bank of India governor is optimistic, foreseeing growth closer to 8%. Key Points
Economic TimesFor risk takers with long-term perspective: 5 midcap stocks with upside potential of up to 47%
Now that sensex has turned negative for 2024, focus will shift on how the returns. The narrative will focus on how returns and how the valuations are expensive. Yes, there is no doubt that valuations are expensive, they were even higher a month back, when everyone was saying cheers to mid-cap. At this point of time the question whether “ I should sell or buy more” needs to be replaced by “what business do I own and whether that business is going to grow or not” The reason why it is important to change the question itself is the fact that it business on the ground which will make the difference between in final returns. If by next month, markets are rallying once again, then all this talk about valuation will go away in thin air. Key Points
Economic TimesPassenger vehicles industry to grow up to nine percent this fiscal, says ICRA
The report said that dealer inventories remain high despite strong retail sales, and the pace of growth is expected to taper off in the coming financial year. ICRA said that during the recently concluded festive season, retail sales grew six percent year-on-year. Key Points
Economic TimesIndia's retail sector to more than double to USD 2 trillion in next decade: Report
India Business News: India's retail sector is projected to reach USD 2 trillion in 10 years. Organised retailers need to sustain performance. Key considerations include pe Key Points
Times Of IndiaIndia to grow 6.5% in FY25, down from 6.9% this fiscal: Ind-Ra
India's economy is expected to grow by 6.5% in the fiscal year 2024-25, supported by sustained government capex, soft global commodity prices, and signs of growth in the private corporate capex cycle, according to India Ratings and Research. The forecast aligns with the International Monetary Fund's projection but is below the Reserve Bank of India's estimate of 7%. Key Points
Economic Times
India needs to grow at rapid rates to become $35 trillion economy: Amitabh Kant
India is projected to become the third-largest economy by 2027, according to the country's G20 Sherpa, Amitabh Kant. He emphasized the need for India to grow rapidly at 9-10% annually over the next three decades to achieve its goal of becoming a $35 trillion economy by 2047. Kant highlighted the importance of sustainable urbanization, improved agricultural productivity, and increased exports for India's future growth. Key Points
Economic TimesAdvantage 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 TimesICICI Bank Q3 result preview: PAT may rise 20% YoY on stronger-than-industry loan growth
ICICI Bank Q3 result preview: ICICI Bank is expected to report a 20% YoY growth in net profit for the December quarter to Rs 9,984 crore, aided by higher loan book growth, lower credit costs, and steady asset quality. The bank's net interest income is projected to grow by 12% to Rs 18,474.30 crore. Sequentially, the bottomline may fall by around 3%, while net interest income may grow by 1%. ICICI Bank is scheduled to release its third quarter earnings on Saturday. Key Points
Economic TimesRate of rupee depreciation coming down: Piyush Goyal
Commerce and Industry Minister Piyush Goyal has stated that the rate of rupee depreciation has decreased, expressing optimism that in 8-10 years, the rupee will start appreciating against the US dollar, contributing to faster economic growth. Goyal highlighted collaborative efforts between the Reserve Bank of India and the finance ministry to spur economic growth. Key Points
Economic TimesBon Appetit: Global chefs and restaurant companies are headed to Indian cities as consumers welcome new ta
As India becomes a prime market for global consumption of both goods and experiences, and as other economies face uncertainties, global chefs as well as big brands and international restaurant companies are headed to Indian shores, where the consumer is open to new tastes and trends, and ready to spend more than before. This internationalism in wining and dining is seen not just in Delhi and Mumbai over the past one year, but also in Tier-II cities. In 2024, this trend is set to grow only bigger. Key Points
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PNC sees growth opportunity in capital-led market disruptions
PNC Financial Services (PNC.N) CEO William Demchak on Tuesday said that the market disruptions caused by the Basel III endgame proposal is an opportunity for the bank to grow. Key Points
ReutersLending to the bottom of pyramid: 4 small finance banks with upside scope of up to 36%
When it comes to the rural economy, most believe that it is auto and FMCG companies which give a good idea how the rural economy is working, But there is another set of companies which might have a better insight on how the rural and even semi urban part of the economy are doing because they work in this part of the country and also because of the fact of lending in those businesses which operate in the area. Despite all the headwinds, these small finance banks have been able to grow. Key Points
Economic TimesHSBC hires UBS's Gautam Anand for role serving India's rich diaspora
“Our strategy is grow Singapore as an international wealth hub as part of our ambition to be Asias leading wealth manager,” Tommy Leung, the banks head of private banking for South Asia, said in the memo. Anands appointment will support the banks ability to serve clients across markets, said Leung, who joined the bank earlier this year also from UBS. Key Points
Economic TimesRaghuram Rajan says India needs to grow at 8% to create enough jobs to meet demand: Report
Speaking at an event in Beijing, Rajan said that while India’s 6-6.5 per cent growth rate is commendable compared to other nations, it falls short of addressing its critical need for creating jobs. Key Points
Business TodayWall St opens lower as yields rise ahead of Powell speech
The Dow Jones Industrial Average fell 52.00 points, or 0.16%, at the open to 33,455.50. The S&P 500 opened lower by 3.53 points, or 0.08%, at 4,284.52, while the Nasdaq Composite dropped 1.34 points, or 0.01%, to 13,217.99 at the opening bell. Powell and Philadelphia Fed President Patrick Hasker will speak at a roundtable discussion, due 11 a.m. ET, with local employers and small business owners on efforts to grow the economy. Key Points
Economic Times
India's Tata Capital plans to raise 280 bln rupees via debt in FY24 - official
India's Tata Capital plans to raise 280 billion rupees ($3.38 billion) mainly through debt instruments and bank lines in the current financial year to fund its double-digit credit growth, a top executive at the non-banking finance company (NBFC) said. Key Points
ReutersAustralia, Brazil to grow Arhar dal for Indian consumers
Satish Upadhyay, executive committee member, IPGA, said, Australia had earlier done trial production in 2019 and the quality was good. However, it could not go ahead as the prices in India were not remunerative for them. Now they have again started work to grow pigeon pea for the Indian market. The sources, however, said that for the initiative to succeed, the Australian counterparts may like to get assured orders from the Indian government. Key Points
Economic TimesNykaa Q1 business update: Revenue expected to grow in mid-twenties; Beauty and Personal Care categories remains strong
Nykaa expects its Q1FY24 consolidated revenue to grow in the mid-twenties YoY, with strong demand in the beauty and personal care categories. However, it anticipates slower growth in the fashion category due to a discretionary spending slowdown. Key Points
mintIndia is 'capital starved', needs to work towards getting capital to become USD 5-trillion economy: Ajay P
Speaking at the Times Network India Economic Conclave 2023, he said India must learn from the rest of the world and allow pension funds and provident funds to invest into many companies instead of restricting them into investing mainly on government securities. Piramal, who was bullish on the future of the Indian economy, said this is the best time the country has had and we want to grow faster . Key Points
Economic TimesFintech revenues to grow sixfold by 2030: BCG
Revenues or financial technology companies are expected to grow sixfold to $1.5 trillion by 2030, a report by Boston Consulting Group (BCG) and QED Investors showed. Key Points
Financialexpress
ET Awards: Dollar 5 T economy not possible without private sector increasing pace of capex, says Industry
The Economic Times Awards for Corporate Excellence hosted a discussion by some of Indias sharpest minds. The subject: Private Sector Capex Revival: Key to 8% Growth. On the panel were Amitabh Kant, Indias G20 sherpa; Uday Kotak, CEO of Kotak Mahindra Bank; Sajjan Jindal, chairman of the JSW Group; Preetha Reddy, vice chairperson of Apollo Hospitals; and Sanjiv Mehta, CEO of Hindustan Unilever. Edited excerpts: Key Points
Economic Times