In this episode of In The News, host Keerthana Tiwari gets in conversation with Moneycontrol's Prakhar Sachdeo and Ruchira Kondepudi to find out the top news on December 3.Sachdeo talks about a potential government move to curb imports of 350 items to boost Make In India. He also talks about how an image from NASA shows the position of Chandrayaan 2's Vikram lander.Close Kondepudi talks about the struggle of HDFC customers as the bank's online services are at a standstill. She also gives the latest details on the Karvy Stock Broking case. related news The Market Podcast | Red flags on D-Street; investors getting into risk aversion mode Corporate Buzz podcast | Birla warns Vodafone Idea may shut; relief for Yes Bank; auto sales and more Taking Stock: RBI shock hits D-St for second day; Nifty holds 11,900 Tune in to In The News podcast to get the latest developments from India and around the world.If you have any queries or suggestions for any of our podcast series, you can … [Read more...] about In The News podcast | Make In India booster; latest on Chandrayaan 2; HDFC Bank’s online service glitch and more
Hareesh VDespite positive Chinese manufacturing numbers and improved trade deal optimism, Zinc prices in the international and domestic markets tumbled to multi-month lows.Prices gained considerably in the first half of the year but nosedived to a three year low by September on feeble demand expectation from China.Close China is the world’s largest zinc producer. Additionally, the country is the top consumer, accounting for about half of the global consumption. However, the 16 months old trade dispute with the US has roiled the Chinese manufacturing sector and demand for zinc. related news How to evaluate your risk appetite? December is usually volatile, pause is not negative trigger as articulated Jute could be among priority industries to bet on in next rally Zinc is largely used for galvanising steel, hence, about 50 percent of global demand is from the construction sector. Transportation, infra, industrial machinery and consumer products are the other … [Read more...] about Trade deal optimism, positive China manufacturing data may limit further downside in Zinc
Manas ChakravartyMarkets across the world have suddenly been spooked by fears of a growth slowdown. Here’s what the Reserve Bank of India said in its monetary policy statement a few days ago: "…global economic activity has shown increasing signs of weakness on rising trade tensions. Among advanced economies, economic activity appears to be slowing in the US in Q42018, after a buoyant Q3. The Euro area growth lost pace in Q3, impacted by weaker trade growth and new vehicle emission standards. The Japanese economy contracted in Q3 on subdued external and domestic demand."The RBI said growth was also slowing in some emerging markets, most importantly China. For India too, there have been warnings of lower growth after the September quarter gross domestic product growth came in lower than anticipated. Fitch Ratings has been the latest to jump aboard the bandwagon, reducing its estimate of India's GDP growth this fiscal from 7.8 percent earlier to 7.2 percent.Close … [Read more...] about Quick Take | Does the market really have a reason to worry about lower global growth?
Everybody knew India's current account deficit would go up because of high oil prices. The CAD rising to 2.9 percent in the July-September quarter from 2.4 percent in the previous quarter was hardly a surprise.But is the rise in deficit entirely due to high oil prices? Not really. While the deficit on account of petroleum, oil and lubricants (POL) went up by 58 percent from a year ago, the deficit on account of non-POL products rose by 50 percent. Clearly, it's not just oil that's driving up the current account deficit.This is seen more clearly if we consider quarter-on-quarter numbers. The POL deficit sequentially went up by a mere 1.3 percent in the July-September quarter this year. But non-POL deficit was up 17.5 percent over the same period.Close Manas ChakravartyMoneycontrol News Macro Matters | IMF and Moody’s say India will likely miss its government debt reduction targetsPolicy matters | The urgent need for restoring credibility to India’s macro dataMacro … [Read more...] about Quick Take | The rising current account deficit is not just because of high oil prices
Manas ChakravartyAt last, we know why the central government was so keen on trying to get the Reserve Bank of India (RBI) to part with its reserves or to speed up bank lending. It was a bit of a mystery why the government of the fastest-growing large economy on the planet was so concerned about growth. The results of the state elections tell us that huge sections of the population were being left out of that growth and the ruling party knew that and was terribly worried about it.The signs of disenchantment have been visible for quite some time. As we pointed out a few days ago, the Reserve Bank of India’s consumer confidence survey showed widespread pessimism about the economy, which has now been translated into votes against the government.Close Is there reason for concern? These were state elections, where local issues dominate and things may well be different in the national elections. More fundamentally, as some economic commentators point out, do governments really make all … [Read more...] about Opinion | What the results of the state elections mean for Modi’s Brave New India