Economy, Markets and Macro Views

Pre Budget Industry Expectations – 1

February 19, 2010April 18, 20202 min read

Amidst high Inflation and extending sops to the Indian industry for growth, Mr. Mukherjee as a difficult task on Hand. We believe that Mr. P. Chaidmabram, the seasoned Finance Minister is the best-fit for this job with his vision for reforms and transformation. Lesser Mortals, we the democratic voters of India have to be content with High Level Politics and with this the Indian Industry has presented its wish list to the FM. We cover industry-wise wish list in 2 posts.

Automobile – Continuation of stimulus package, Remove differential excise duty between small and large cars and Extension of accelerated depreciation benefits for CV. (more…)

Economy, Markets and Macro Views

Jan Inflation Up 8.6%, Breaches RBI’s 10 March Estimate

February 15, 2010February 15, 20101 min read

The Indian Inflation as measured by the WPI rose 8.6% in Jan, higher than expectations and breaching the RBI’s 8.5% estimate for 10 March. On a seasonally adjusted MoM basis, inflation was up 1.3% vs. 0.9% last month. Going forward, while primary product prices are likely to abate, an impending fuel price adjustment coupled with rising manufactured prices is likely to result in headline numbers crossing 9% in Feb and heading towards double-digits in March. (more…)

Economy, Markets and Macro Views

Post Correction – FII India Equity Strategy

February 10, 2010April 18, 20202 min read

Post Correction of 10% in Indian Equities, FIIs are weighing their Equity Strategy in India and their Long Term Investment Outlook. Before we present to you about their Strategies, we are just little over 2 weeks away from the second budget by the new Government – so this month will be a month of volatility. We have always advised you to BUY on correction [dalalstreet on twitter] and maintain the same tone – BUY.

So far into Q3, FY10 results Media, Banks, Telecom, IT have been (more…)

Economy, Markets and Macro Views

Equity Outlook – Buy the Sell Off – HDFC Bank

February 8, 20101 min read

Here is the outlook of Indian Equity Market by Analysts of HDFC Bank’s Private Wealth Management Group – largely in-line with other fund managers of the HDFC Group [ Mutual Fund and Insurance]

India’s overall growth remains robust led by a strong performance in the Manufacturing and Services segment due to visible improvements in the consumption demand. India remains amongst the fastest growing economies globally inspite of lingering concerns on the global front. Q3FY10 results came on expected lines with no major surprises. Union Budget & International events is likely to provide further direction to the markets. (more…)

Economy, Markets and Macro Views

Strategy – Market Correction Inevitable – BNP

February 3, 2010April 18, 20201 min read

IN a report BNP Paribas analyst compares the recent RBI move to a Zugzwang move – Compulsion to move. Just like how Credit Suisse came up with a bold report to downgrade India, BNP Pribas is of the view that a correction is inevitable. (more…)

Economy, Markets and Macro Views

Pre-budget correction playing out – Merrill

January 31, 2010January 31, 20101 min read

A pre-budget correction in the Indian equities market is playing out with the rise of CRR. Analysts expect a market consensus on increased excise duties in the budget in February end as the Government scales back its fiscal stimulus program. Bofa-Merrill sees a weakness in the markets over next few weeks in the run up to the budget that may offer a better buying opportunity. (more…)

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