HSBC maintained overweight rating on Indian equities, saying fundamentals are strong Benchmark indices extended gains and ended firm for four straight trading sessions supported by strong global cues on upbeat US growth news while buying among rate-sensitive sectors also aided the rally. The S&P BSE Sensex settled the day at 26,653, up 259 points, while the broader Nity50 closed at 8,225, up 82 points. Broader markets performed well in tandem with the benchmark indices. BSE Mid-Cap index ... Rediff.com, 1 month ago
Most analysts expect the note ban to sharply hit GVA growth in Q3 and Q4, and the central bank's stance is being called into question.Business Standard's Ishan Bakshi reports.Illustration: Dominic Xavier/Rediff.com On Wednesday, the Reserve Bank of India slashed its growth forecast for FY17 gross value added (GVA) to 7.1% from 7.6% earlier. Interestingly, the RBI clarified that of the 50 basis point (bp) decline in growth, the slowdown due to demonetisation is only to the extent of 15 bps. The ...Rediff.com, 1 month ago
Launching a scathing attack on Prime Minister Narendra Modi, Opposition parties on Wednesday alleged that selective leak of information on demonetisation of 500 and 1000 rupee notes to 'friends of BJP' and demanded making public the names of those who had bought gold and foreign exchange of over Rs 1 crore since April. Initiating a debate after listed business was suspended to take up a discussion on the November 8 decision to withdraw old higher denomination currency, Anand Sharma ...Rediff.com, 2 months ago
The move to ban Rs 500 and 1000 notes may not curb the root cause of black money. Even as most leading brokerages view the government’s decision to ban Rs 500 and Rs 1,000 notes as positive from a medium-term perspective, the short-term impact will be negative for most pockets in the economy. As a result, the performance of India Inc as well as the economy is likely to be muted in the ongoing quarter, believe analysts. “In the short run, the move can be disruptive for growth ...Rediff.com, 2 months ago
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