India Inc is set to add the much-needed glimmer to the season by going all out on gifting
Agency's report on non-finance entities says earnings growth will be a function of lower prices of key commodities
The 12-fold jump in India's national income in dollar terms over the past three decades has been largely a product of labour-cost advantage over the West
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India Inc's combined quarterly net profit rose 47% to a record Rs 3.36 trn; net sales were up just 5%
CLOSING BELL ON AUGUST 10, 2023: Private bank and select auto stocks ended with notable losses after the RBI on Thursday asked banks to maintain Incremental Cash Reserve Ratio (ICRR) at 10 per cent.
Closing Bell on August 7: Among sectors, Nifty Healthcare, Nifty Pharma, and Nifty IT indices emerged as the top leaders, gaining up to 2 per cent
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ICICI Bank Q1FY24 results: At the bourses, shares of ICICI Bank hit a new 52-week high of Rs 1,008 on the BSE, rising 1 per cent in the intra-day trade
India Inc is set to report a 6-8 per cent slowdown in revenue growth in the April-June period, making it the fourth straight quarter of a dip in the key number, an arm of rating agency Crisil said on Tuesday. However, from a profitability perspective, corporate India is set to report an increase in margins to 20 per cent as against 19.6 per cent in the year-ago period, due to softness in the commodity prices, Crisil Market Intelligence and Analytics said in a note. Moderation in the revenue growth will be on the back of low realizations and a high base, it said. The revenue growth will be 2 percentage points lower than the one observed in the preceding January-March quarter, it said, adding that this will be the first time in eight quarters that the listed companies will show a sequential decline in revenue growth. After an analysis of 300 companies from 47 sectors, excluding financial services and oil and gas, the report said 14 sectors are likely to witness a fall in revenue whil
"The markets may have run up recently, but we do not believe it to be an irrational exuberance bubble"
India's macroeconomic fundamentals are resilient, with growth/inflation dynamics better than those of many developed markets
Among sectors, Jefferies expects the consumer discretionary and staples sectors to see a margin expansion of 2.4 / 0.7ppt in FY24.
Commodity firms' bottomline taking a hit primary reason
Earnings growth will be a constraint for markets
By comparison, their combined net sales (gross interest income for BFSI companies) were up 14.3 per cent YoY to Rs 33.2 trillion in Q4FY23, from Rs 29 trillion a year ago
While consensus earnings growth expectations for Nifty50 at 8.6% for FY23 have come down from over 11% at the start of the year, FY24 expectations at 19.2% YoY remain broadly stable
The dividend per share recommended by the top three corporations was more than double that of the previous year, with TCS again at the top of the list
He added that India has done 'exceptionally well' and is being noticed by investors globally
Nifty 12-month forward PE is around 23 per cent below peak. Indian equities should find support from robust earnings outlook owing to strength in the domestic economy.