The BSE Mid-cap Index is trading up 0.92% at 10,919, whereas BSE Small-cap Index is trading up 0.76% at 11,127. The Dow Jones rallied over a percent while S&P 500 gained 1.5%. Nasdaq was up 1.74%. Asian markets too are well in the green.
The BSE Mid-cap Index is trading up 0.92% at 10,919, whereas BSE Small-cap Index is trading up 0.76% at 11,127.
India remains a bright spot indeed and the World Bank has maintained the country's growth forecast for the year. It’s a different matter that many are worried about the impact of the global slowdown on India. The South Asia Economic Focus released by the World Bank says India will grow 7.5% in the current fiscal. However, the projections come with a warning. Delays in the adoption and implementation of key reforms could affect investor sentiment; the World Bank has stated adding that "Led by a resilient India, South Asia is expected to maintain its lead as the fastest growing region in the world."
Global indices are in a cheerful mood. In fact on Friday, US indices jumped over 1% as poor payroll data hinted at economic weakness while strengthening the argument for delaying a long-awaited interest rate hike. The Dow Jones rallied over a percent while S&P 500 gained 1.5%. Nasdaq was up 1.74%. Asian markets too are well in the green.
The gains last week have resulted in Infosys surpassing HDFC Bank as the third most valued Indian firm in terms of market valuation. Infosys market valuation stood at Rs. 2,69,489.03 crore, while HDFC Bank's m-cap stands at Rs. 2,69,056.35 crore. TCS remains the biggest gainer among the top 10 firms, as its valuation surged by Rs. 12,555.44 crore to Rs 5,17,045.42 crore. RIL market-cap also zoomed by Rs. 7,901.76 crore to Rs 2,79,249.60 crore last week.
Union Finance Minister Arun Jaitley reiterated that India is ready to be one of the new drivers of growth of the world economy, says report.Jaitley also called for businesses worldwide to invest in India."There are also no serious political roadblocks,” Jaitley said in an interview. “I see an important opportunity for India. The relative slowdown in China does not necessarily impact India negatively. In the last five years or so, wage bills in China have risen significantly, and therefore China’s cost advantage gets substantially neutralised, and India again has an opportunity,” he said.
The Union Cabinet is likely to consider this week a proposal to recast INR 4.3 trillion loans of nine state power distribution companies (Discoms) with a view to bring down their liabilities, according to reports. The debt restructuring proposal once approved would reportedly help the discoms in these states to access cheaper loans at an interest rate of ~9%, compared to ~14% that they are presently paying.
PSA Peugeot Citroen and Tata Motors are reportedly in talks to form a partnership whereby the Indian company could produce and distribute the French giant's cars in the Indian market. The two firms may also share engine technology, according to a report in a financial daily. Emmanuel Delay, head of India Pacific Operation at the PSA Group, is steering discussions with senior executives of Tata Motors, the daily states in its report.
India’s coffee exports remained flat at 301,647 tonne in the 2014-15 season ending in September compared to 303,250 tonne in the previous crop year due to lower domestic production and decline in international prices.
In a significant step towards generating power from garbage under the Swachh Bharat Mission, six waste-to-energy plants with an installed capacity of ~74 MW will be commissioned next year, including two in the national capital.
No comments:
Post a Comment