Related Articles
-
India Shipping: Global Growth Recovery to Drive Demand; OW GESCO
We assume coverage of the India Shipping industry with an In-Line view. We expect demand to remain strong in both tanker and bulker segments, given our expectation of 4% global GDP growth in C2010 vs. 1.1% contraction in C2009. Bulker demand will be led by continued growth in Asia, while recovery in OECD nations and increased demand from Asian countries will propel oil demand, in our view….
-
Why are financial markets not worried about the US fiscal deficit?
The financial markets are not penalising the United States, whose public finances are in a very poor state, while they are penalising many European countries. Can this asymmetry in the way they are treated be explained? − Are the financial markets confident about the capacity of the United States to quickly regain vigorous growth capable of reducing the fiscal deficits?
-
Indian Banking System: Q3/9M FY09-10: Performance Review & Outlook
The current ICRA research is an update on the performance of 43 Indian Banks during Q3 / 9M FY09-10. We have included 26 public sector banks and 17 private sector banks in the current analysis. These banks would account for over 90% of the Indian Banking System assets as on December 2009….
-
Lessons from the Greek crisis
The fiscal position in the euro zone overall compares favourably with the United States, the United Kingdom and Japan in terms of both the government deficit and debt ratios, and the area has adequate domestic savings, as demonstrated by its balanced external trade accounts. However, the slide in the public finances of a number of countries in the zone led by Greece…
-
India Financial Services Budget F2010 – Key Takeways
Reduced tail risk from bond holding for SOE banks…but near term pressure likely to persist: The Central Government indicated that its net borrowing requirement will be Rs3,450 bn in F2011 – i.e. 13% lower than in F2010. We believe this helps reduce the tail risk of a very sharp rise in long bond yields. In the near term, there may be some pressure from the higher taxes on certain oil-related products…
-
India Consumer: January 2010: Food category outpaces HPC category’s growthChart
Food’s category outpaces HPC category growth in Jan-10: Laundry volume growth continues to witness significant acceleration (16% growth in Jan-10), although value growth remained muted at 2%. In our view, strong volume growth in laundry is on account of higher fill levels being offered by the industry participants. The noodle (24%), skincare (18%), biscuit (18%), chocolate (15%) and tea (14%) categories grew much faster than the industry….
-
Tightening ties: Asian oil demand and pragmatism at crux of Saudi-Indian relations
The trading relationship between Saudi Arabia and India is among the most-strategic bilateralbonds for either country. As India’s largest supplier of crude oil, Saudi Arabia is favourablypositioned to benefit from burgeoning demand for energy in Asia’s third-largest economy, setto experience annual economic growth rates of 7-8% for the foreseeable future. The balance of trade between the two states has consistently swung in favour of kingdom…
-
CEMENT SECTOR: Demand strong but price headwinds imminent (RELIGARE SECURITIES)
Cement dispatches have been robust in H2FY10 on account of higher government expenditure on infrastructure and steady rural consumption. We expect demand to hold firm, particularly in India’s northern market, with a growth of over 10% in the next two years. On the flip side, our analysis suggests that cement overcapacity is imminent in the medium term. This together with rising coal and freight costs signals a challenging road ahead in FY11….
-
Uncertainty prevails – Budget reconciliation is the best way forward
President Obama’s efforts to converge the Democrats and Republicans on a common plane with respect to Healthcare Reform through a televised healthcare summit held on February 25, 2010 have failed. The Senate Bill with amendments suggested by President Obama was discussed in detail for over seven hours. No headway was made; and it is now clear that the difference in views held by the Democrats and Republicans…
-
Key Features of Budget 2010-2011
* To quickly revert to the high GDP growth path of 9 per cent and then find the means to cross the ‘double digit growth barrier’.
* To harness economic growth to consolidate the recent gains in making development more inclusive.
* To address the weaknesses in government systems, structures and institutions at different levels of governance.
-
Union Budget 2010-2011 full speech
In 2009, when I presented the interim Budget in February and the regular Budget in July in this august House, the Indian economy was facing grave uncertainties. Growth had started decelerating and the business sentiment was weak. The economy’s capacity to sustain high growth was under serious threat from the widespread economic slowdown in the developed world….
-
Deposit Rate Hikes in the Offing – A Process of Normalization
Over the weekend, HDFC Bank raised deposit rates for 1-2 year deposits by 25-50 bps. We expect other banks to start raising rates too – moreover, the first 1-2 deposit rate hikes may come with no hike in lending rates (similar to the last cycle of rate hikes effected by banks)….
-
Dow Theory for the 21st Century
A person watching the tide coming in and who wishes to know the exact spot which marks the high tide, sets a stick in the sand at the points reached by the incoming waves until the stick reaches a position where the waves do not come up to it, and finally recede enough to show that the tide has turned. This method holds good in watching and determining the flood tide of the stock market….
-
The Push and Pull of Earnings vs. Inflation vs. Risk Appetite (MORGAN STANLEY)
The market is currently grappling with three key developments –strong growth, policy exit (relating to prospects of higher inflation) and global uncertainty or declining risk appetite. Global risk appetite will determine the absolute multiple for the market, whereas the inflation outcome will determine India’s relative multiple. How will the market respond to the interplay of these factors?
-
Changes in the global economic equilibrium after the crisis (NATIXIS)
- fall in domestic demand in OECD countries due to private-sector deleveraging;
- continuing rapid increase in the supply of goods and services in emerging countries, especially in China, due to the high level of investment and the improvement in human capital…
-
RBI TO REPLACE BPLR (BENCKMARK PRIME LENDING RATE) SYSTEM WITH BASE RATE FROM 1 APRIL, 2010
The RBI has decided to replace the prevailing BPLR (Benchmark Prime Lending Rate) system with a new Base rate for all scheduled commercial banks. This base rate system would be effective from 1st April, 2010. As per the draft circular by RBI, all lending rates would be determined with reference to the base rate which shall be common across all categories of borrowers….
