Tag: 2021

Budget 2022 updates: Sitharaman reaches Parl; Budget speech at 11 am

Budget 2022 updates: Sitharaman reaches Parl; Budget speech at 11 am
Tuesday, February 1, 2022
Finance Minister Nirmala Sitharaman will present her fourth Union Budget in Parliament at 11 am today(1st February 2022) in a paperless format. The Budget speech will be keenly watched by both domestic and foreign investors, various interest groups like farmers, crypto Investors, anxious middle class, and corporate entities, besides parliamentarians. Ahead of the Budget presentation, Sensex jumped over 700 points. led by gains in IT and banking counters. Clarity on cryptocurrency sops to real estate, and the abolition of STT would be on top of investor radar. Read more

Sale of two state-run banks differed to next year?

Sale of two state-run banks differed to next year?
Monday, August 2, 2021
India’s plan to sell two state-controlled banks may get deferred to the next financial year as the government is yet to seek parliament’s nod for changes in laws required to start the transaction, according to reliable sources. The Finance Ministry hasn’t finalised modalities to seek approval from lawmakers for the sale, which leaves little time for the process to be completed this year, it is said. The government will seek buyers for two state-run banks by March 2022, Finance Minister Nirmala Sitharaman had said in February, in the nation’s budget for the current financial year that began on 1st April.

Investment activity hits historic low in FY21 due to pandemic

Investment activity hits historic low in FY21 due to pandemic
Tuesday, June 1, 2021
In the fourth quarter of the financial year, 2020-21 (Q4FY21) investment activity revived to a seven-quarter high and demand recovered to a five-quarter high but this may not sustain because of the impact of the second wave of Covid-19 on rural demand and corporate spending, feel economists. The better-than-expected economic growth in Q4 was largely led by a spike in government spending and double-digit growth in investment activity, owing to a low base. However, for the whole of FY21, growth in investment and consumption touched a historic low as the country grappled with the impact of the nationwide lockdown in Q1. Read more

Barclays pegs India's FY22 GDP growth at 7.7%

Barclays pegs India's FY22 GDP growth at 7.7%
Tuesday, May 25, 2021
Barclays, as measured by gross domestic product (GDP) has pegged India’s economic growth -for fiscal 2021-22 (FY22) – at 7.7 percent in the bear-case scenario, if the country is hit by the third wave of the Covid pandemic going ahead. The economic cost, it believes, could rise by at least a further $42.6 billion, assuming another round of similar stringent lockdowns is imposed across the country for eight weeks later this year. After factoring in recent developments, Barclays has pegged the economic cost of the latest shutdowns at $8 billion per week in May, up from $5.3 billion per week in the last two weeks of April, and well above the $3.5 billion a week estimated early in the second wave. “We believe these economic losses will remain steady at $8 billion a week through the month of May but expect them to ease from June,” Barclays said. Read more

Election results 2021 UPDATE: It's TMC in Bengal; BJP in Assam; LDF in Kerala

Election results 2021 UPDATE: It's TMC in Bengal; BJP in Assam; LDF in Kerala
Sunday, May 2, 2021
Counting of votes to the legislative assemblies of Tamil Nadu, Kerala, West Bengal, Assam, and the union territory of Puducherry is underway. A number of seats in the four states and 1 UT are Assam (126), West Bengal (294 seats), Tamil Nadu (234 seats), Kerala (140 seats), and Puducherry (30 seats). West Bengal election result 2021 LIVE updates: Trends indicate that incumbent Mamata Banerjee-led Trinamool Congress (TMC) will end up convincingly winning in West Bengal, while challenger Bharatiya Janata Party (BJP) could fall way below its expected number of seats (elections were held in 292 constituencies). In a setback of sorts for the TMC, however, party chief and chief minister Mamata Banerjee leading with a wafer-thin margin (820 votes) against opponent Suvendu Adhikari’s in Nandigram. Read more

Covid second wave may not dent FY22 earnings: Analysts

Covid second wave may not dent FY22 earnings: Analysts
Tuesday, April 20, 2021
Despite the sharp rise in Covid cases and the ensuing lockdown imposed in some important cities across India that can dent the economic momentum, analysts remain optimistic on the earnings trajectory of India Inc and have not yet downgraded / cut projections for fiscal 2021-22 (FY22). “Corporate earnings are yet to come back to their pre-Covid levels in realistic terms even though they may look optically higher due to the low base effect of the last year. Despite the recent lockdown measures, the companies engaged in essential services continue to run. The curbs can, at best, slow the earnings growth for a couple of months. I do not see any major impact on FY22 numbers at an aggregate level as of now,” say experts. Read more

Risks that may halt the current bull-run in the markets

Risks that may halt the current bull-run in the markets
Tuesday, February 9, 2021
As the Budget gave the necessary booster shot to a dilapidated Indian economy Market's wealth has been soaring at the bourses. The budget with infrastructure programs, privatisation proposals, a nod to public sector banks’ recapitalisation, and no changes in the direct tax regime, proved to be one of the “best in decades” for the economy. At the bourses, frontline indices are hitting record highs every day. With today’s gains, the S&P BSE Sensex and the Nifty50 are up over 11 percent since January 29 and have more-than-doubled since their March 2020 lows. The BSE barometer of 30 constituents hit a new lifetime peak of 51,753 today while the broader 50-share Nifty hit 15,238. From a medium-term perspective, Morgan Stanley sees the Sensex hitting the 55,000-mark by the end of 2021. Read more

Budget 2021 has heated up the bond market

Budget 2021 has heated up the bond market
Thursday, February 4, 2021
The bond market got a negative surprise on Budget day (1st Feb 2021) when the government projected its gross borrowing numbers for the next financial year at Rs 12.05 trillion, much higher than the expected Rs 10.5 trillion. To make the matter worse, the government said it would borrow an additional Rs 80,000 crore in the current financial year, too. “The Rs 80,000 crore extra borrowing for this year is especially a bolt from the blue for the bond market,” said an expert. “This is because the government has been consistently running very high cash balances lately, revenues have picked up dramatically, and even though spending has gone up, it hasn’t been tracking anywhere close to what is required to yield the revised Budget numbers.” Read more

MARKET UPDATE: Sensex shot up over 1,400 points and reclaimed the 50,000 levels and Nifty topped the 14,700-mark

MARKET UPDATE: Sensex shot up over 1,400 points and reclaimed the 50,000 levels and Nifty topped the 14,700-mark
Tuesday, February 2, 2021
The excitement in the Indian markets continued with the benchmark indices soaring another 3 percent today(2nd February 2021) after recording their biggest Budget-day rally (point-wise) in the previous session. Besides, a firm set of global cues also spurred the bulls. Among the headline indices, the S&P BSE Sensex shot up over 1,400 points and reclaimed the 50,000 levels. The broader Nifty50 index topped the 14,700-mark. Larsen & Toubro, up 8 percent, was the top Sensex gainer, followed by HDFC Bank and HDFC, up 6 percent and 5 percent, respectively. The Nifty sectoral indices were painted green, with the Nifty Financial Services index, up 4.4 percent, leading the gainers. Meanwhile, the Nifty Bank index surged over 1,500 points in intra-day deals to 34,618, a fresh high. Read more

Nirmala Sitharamans concludes presentation of the first Budget of the decade, highlights priority sectors, provides roadmap of reducing the fiscal deficit

Nirmala Sitharamans concludes presentation of the first Budget of the decade, highlights priority sectors, provides roadmap of reducing the fiscal deficit
Monday, February 1, 2021
Finance Minister Nirmala Sitharaman presented her third Union Budget in Parliament, which rests on six major heads – health and well-being, physical, financial capital and infrastructure, inclusive development for aspirational India, reinvigorating human capital, innovation and R&D, and minimum government and maximum governance. The finance minister has announced a total spend of around Rs 2 trillion on healthcare and mega national highway projects in election-bound states of Tamil Nadu, West Bengal, Assam,union and Kerala. Addressing the nation after the Budget presentation, Prime Minister Narendra Modi said this year's Budget was prepared under unprecedented circumstances. He said it speaks of 'all-round development'. Read more

Budget 2021 LIVE: FM arrives at North Block; all eyes on high stakes Budget

Budget 2021 LIVE: FM arrives at North Block; all eyes on high stakes Budget
Monday, February 1, 2021
Finance Minister Nirmala Sitharaman will present her third Union Budget in Parliament at 11 am today. The Budget speech will be keenly watched not only by the domestic and foreign investors but also by various interest groups like farmers, anxious middle class, and corporate entities. As the Covid-19 pandemic hit India last year, the government witnessed a rising expenditure and tumbling revenue, even as at one stage economic activity came to a standstill due to the pandemic-induced lockdown. However, the economy is now in a recovery mode. On Friday,29th January 2021 the government tabled the Economic Survey 2020, which pegged India's real GDP growth at 11 percent in FY22. Meanwhile, the finance minister has promised a 'Budget like never before'. Read more

New fund to meet the public health spending target

New fund to meet the public health spending target
Monday, January 25, 2021
Due to an increased demand for a higher health care allocation, the government may set up a new fund to meet the public health spending target of 2.5 percent of GDP by 2025. Both, the Centre and states would provide for the fund to achieve the goal, the Union Budget may propose. At present, the country’s total health expenditure is 1.4 percent of GDP — much lower than many emerging economies in the world. The fund, if created, would be under the ‘Pradhan Mantri’ umbrella and will focus on both short- and long-term priorities of the sector, according to the government officials. The primary objective of the new fund will be to spend 25 percent on primary health care and the rest on infrastructure as well as research and development. It would also provide additional money to the government’s existing health care schemes such as Ayushman Bharat. Read more

Some expectation from Budget 2021

Some expectation from Budget 2021
Friday, January 22, 2021
Markets are now eyeing the upcoming proposals in the Union Budget – scheduled to be presented on February 01 – After a stupendous rally that has seen the S&P BSE Sensex more than double from March 2020 low and hit the 50,000 marks. The budget proposals may help revive Covid-19 impacted economy and lift the fortunes of corporate India as well. While most experts suggest the government loosen its purse strings and not worry about the fiscal deficit in a pandemic impacted year, it will be a tightrope walk for the government to increase spending without going overboard. Growth and not fiscal prudence, experts say, should be the priority for the government now. Read more

Budget 2021: Special facility to be available for FDI proposals worth over Rs 3,000 cr

Budget 2021: Special facility to be available for FDI proposals worth over Rs 3,000 cr
Tuesday, January 19, 2021
GOI is planning to create a special window for strategically important investors such as sovereign wealth funds and pension funds that wish to invest over Rs 3,000 crore through a single transaction, according to sources. An announcement in this regard may happen in the Union Budget, scheduled to be presented on February 1. Some strategically important foreign investors include Canada pension fund CDPQ, GIC (Singapore), the Qatar Investment Authority, Temasek (Singapore), and the Abu Dhabi Investment Authority. Most of them met Prime Minister Narendra Modi through virtual meetings in early November. It is learned that foreign investors showed faith in the government’s recent initiatives and reforms. Through this window, foreign funds would receive a response from the government within three days, so that such a proposal can be fast-tracked. Also, the window will act as a point of contact between investors and the various ministries and departments concerned.

Few stocks that may give better returns in 2021

Few stocks that may give better returns in 2021
Friday, January 8, 2021
The market which is already trading at record highs has more legs than earlier, believe many analysts. They believe the market will run up ahead of, and in anticipation of, and ensuing economic recovery. The following few stocks may get the best of the rally in the market in the next year, according to many analysts: 1. Sobha | Target: Rs 640 | Upside: 45%: Sobha is a better-placed company in the realty space backed by its strong brand, better product realizations, back‐ward integration of processes including in‐house design, architecture, mechanical, electrical, plumbing and engineering, superior execution capabilities and diversifications from Bangalore market to a pan India player. Also, the company is likely to be a prime beneficiary of consolidation in the industry. Read more

Expectations from fixed income market in 2021: What experts say

Expectations from fixed income market in 2021: What experts say
Friday, January 1, 2021
The year 2021 will be marked with hopes for the early rollout of the Covid-19 vaccine, normalisation of economic activities, and a steady recovery in growth. India will see a slow cyclical recovery along with the gradual easing of inflation, though that may not be enough to sustain RBI’s accommodative policy stance. Interest rates will likely harden with no rate cuts and persistent fiscal pressure. Key risks for the government will be to steer through any financial sector stress, reviving the weak investment cycle, and any adverse issues with global liquidity. Two issues will shape India’s macro-economic situation in CY2021; easy money policies in developed markets and rollout/mass availability of Covid vaccines. Easier global monetary policies will aid risk-on flows, while vaccine rollouts Interest rates will likely harden with no rate cuts and persistent fiscal pressure. Read more

Indian economy to bounce back with 8.8% growth in 2021 after contracting by 10.3% in 2020

Indian economy to bounce back with 8.8% growth in 2021 after contracting by 10.3% in 2020
Wednesday, October 14, 2020
The International Monetary Fund (IMF) yesterday (13th October 2020) slashed the growth forecast for India saying that the country’s economy will contract 10.3% in FY21, the third steepest decline after Spain and Italy, and the sharpest fall among emerging markets and developing countries. This is the second downgrade for India by IMF after it reversed its forecast of 1.9% growth in April to a 4.5% contraction in June for 2020-21. The economies of Spain and Italy are seen shrinking by 12.8% and 10.6%, respectively. IMF’s forecast for the Indian economy is gloomier than the Reserve Bank of India’s projection of a 9.5% contraction in the real gross domestic product (GDP) in the full fiscal. The economy shrank an unprecedented 23.9% in the June quarter. Last week, the World Bank said the situation in India is worse than ever, forecasting the country’s economy will shrink 9.6% in FY21, much steeper than the 3.2% fall estimated by IMF in June. Read more

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