June qtr results of Banks, NBFCs – don’t try to read too much
I really don’t know what will one analyze !
indianeconomy
India seeks new preferential treatment from US on drugs, other goods
In return for opening its dairy markets and slashing tariffs on farm goods as the two sides seek to shore up a new trade deal, three sources said. India accounts for 40% of US generic drug imports, including the anti-malarial hydroxychloroquine, touted by US President Donald Trump in the fight against the coronavirus. To win … Read more
RBI governor calls for resolution corporation for stressed lenders
That will revive stressed banks and finance companies as an alternative to the traditional practice of merging failed institutions with stronger ones. A bill which proposed the corporation in 2017, was withdrawn following criticism of a clause that sought to share cost of revival with depositors. “The traditional approach has been to merge a failed … Read more
‘Auto component industry’s revenue to fall 14-18% in FY21’
Due to weak demand from carmakers as well as from the replacement market amid low consumer sentiment due to the pandemic, rating agency ICRA said on Friday. “The industry has been affected by the pandemic and continuing lockdowns, directly impacting the economic environment and consumer sentiment,” the agency said in a statement. “Exceptions are mission-critical … Read more
Nitin Gadkari warns of revenue losses, economic woes due to pandemic
India was expected to lose revenue of Rs 10 lakh crore due to the coronavirus crisis, Union minister Nitin Gadkari said on Wednesday. The situation was so grim that some states do not have money to pay salaries next month, he said, adding that the country needs to tackle the crisis with positivity. Addressing the … Read more
Shortage of workers: India Inc faces big shortage of workers
Construction and real estate are staring at a worker shortage of 52%, followed by manufacturing at 44% and healthcare and pharmaceuticals at 42%, according to a survey based on initial hiring discussions, enquiries and mandates. Companies across industries are facing a huge shortage of blue-collar workers as they gradually resume operations after the lockdown, and … Read more
Near-term outlook for FMCG sector ‘extremely uncertain’, says HUL
While describing the current situation as “much more uncertain than normal”, the FMCG major added that it is confident about its ability to manage the immediate crisis, news agency PTI reported. “The situation remains volatile with the trajectory of the virus undetermined, evolving hot spot geographies, the success of containment measures uncertain, the severity and … Read more
Moody’s downgrades India rating to lowest investment grade
Moody’s downgrades India’s sovereign rating to ‘Baa3’ from ‘Baa2’ with negative outlook. This is one shot away from non investment grade – though it’s unlikely that would happen. It’s also reasonable to expect that in all likelihood, S&P will follow soon. They are currently one step higher at BBB- with stable outlook. Mostly, they would … Read more
RBI further cuts rate by 40 bps. What about previous cuts?
In a widely expected move, RBI today slashed policy rates by 40 bps to ease Covid2019 impact. The repo rate now stands at 4% and reverse repo at 3.35%. This is the second significant cut in the year. Previously, in March RBI had cut the repo rate by 75 bps. “The MPC also decided to … Read more