The IHS Markit Manufacturing PMI rose to 58.9 in October, the highest in more than a decade, compared to 56.8 in September, driven by robust sales. State Bank of India (SBI) revised their second-quarter GDP projection to a contraction of 10.7 percent from a contraction of 12.5 percent earlier, according to a research report from SBI Ecowrap. … [Read more...] about Q2 GDP prints likely to show significant sequential pullback; will it cheer the market?
However, there are certain stand-out features of the Q2 numbers that merit attention. The July-September 2020 quarter was one that had the benefit of the moratorium. This might have helped some smaller companies. For instance, while the absolute interest payment of all listed companies as well as the companies belonging to the Nifty index was more or less flat, for smaller companies represented by the BSE Small Cap index there was a YoY decline in interest expenses by over 8 percent. This could have been because of the moratorium benefit. … [Read more...] about Is the recovery here to surprise us quarter after quarter?
"The short term trend of Nifty is choppy and the market is expected to move in a range of 13,100-12,800 levels by next week. The study of long term charts like weekly and monthly timeframe signal crucial overhead resistance for the market around 13,100-13,150 levels," said Nagaraj Shetti, Technical Research Analyst, HDFC Securities. … [Read more...] about NSE, BSE shut today on account of Gurunanak Jayanti
"In November, wholesale volumes are estimated to grow at 19.6 percent for 2Ws on a low base, 12.6 percent for PVs due to sustaining demand and inventory refilling, and 6.5 percent for CVs on the back of LCV growth of 14 percent, but restricted by the nearly 5 percent decline in M&HCVs," Motilal Oswal said. … [Read more...] about No negative surprises, auto sales numbers for November likely to show an uptick
The Modi government has had a long stated aim to increase ethanol blending with conventional fuels by oil marketing companies. The aim is to ensure that around 10 per cent of the total petroleum consumed in the country is blended with ethanol by 2022 and thereafter the target could be scaled up to 20 per cent blending by 2030. … [Read more...] about Cabinet hikes ethanol prices; Sugarcane farmers to benefit