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CADLAHC BUY ABOVE 267.7 | TRADE NIVESH for NSE:CADILAHC
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PM Modi meets India Inc heads to discuss the economy
Trade Nivesh Modi has so far met over 60 entrepreneurs and businessmen from sectors such as FMCG, finance, renewable energy, diamond, retail, textiles, MSMEs and startups and technology.
Ahead of the Union Budget presentation, Prime Minister Narendra Modi on January 6 met top executives from corporate India to discuss issues facing the economy and measures needed to boost growth and create jobs.
Richest Indian Mukesh Ambani, Tata group's Ratan Tata, telecom czar Sunil Bharti Mittal, billionaire Gautam Adani, Mahindra Group chairman Anand Mahindra, and mining baron Anil Agarwal were among those who attended the meeting.
Tata Sons chairman N Chandrasekaran, TVS chairman Venu Srinivasan, L&T head AM Naik were also present, according to a photograph of the meeting released here.
Finance Minister Nirmala Sitharaman will present her second Union Budget on February 1 with an eye to reviving growth.
The latest GDP data for the July-September quarter showed a significant further moderation in the pace of economic growth to 4.5 percent - the weakest in six years, with a key contributory factor being a slump in manufacturing output.
The Modi government has undertaken a number of measures to arrest the growth slowdown. In September 2019, it announced a cut in the corporate tax rate to 22 percent from 30 percent. The government also lowered the tax rate for new manufacturing companies to 15 percent to attract new foreign direct investments.
The tax rate reductions bring India in line with rates in other Asian countries.
The government's other initiatives include bank recapitalisation, the mergers of 10 public sector banks into four, support for the auto sector, plans for infrastructure spending, as well as tax benefits for startups.
But experts say none of these measures directly address the widespread weakness in consumption demand, which has been the chief driver of the economy.
Also, financial sector fragilities continue to weigh on the economic growth momentum, with the high level of non-performing loans on the balance-sheets of the public sector banks, constraining their fresh lending.
Furthermore, there are also risks from potential contagion effects from troubled non-bank financial companies (NBFCs) to the balance-sheets of some commercial banks, which could further weigh on the overall pace of credit expansion.
In response to the growth slowdown, the Reserve Bank of India (RBI) has eased policy rates significantly during 2019, with a series of rate cuts since February 2019.
Further stimulus measures are expected in the upcoming Budget where the focus is likely to be on reforms, including some structural measures such as reducing red tape and boosting foreign direct investment.
The meeting with industrialists is in the series of discussions that Modi has had during the last couple of weeks to seek suggestions to revive growth.
In the previous meetings, he met Kotak Mahindra Bank CEO Uday Kotak, State Bank of India head Rajnish Kumar, HDFC Bank managing director Aditya Puri, IT industry veteran TV Mohandas Pai; former finance secretary Hasmukh Adhia; Tech Mahindra CEO CP Gurnani, Intel India general manager Nivruti Rai and Tata Consultancy Services chief executive Rajesh Gopinath.
He also reportedly has held one-on-one meetings with sectoral experts.
Modi has so far met over 60 entrepreneurs and businessmen from sectors such as FMCG, finance, renewable energy, diamond, retail, textiles, MSMEs and startups and technology.
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भारत पर फिदा विदेशी निवेशक, 2019 में निवेश ₹1.3 लाख करोड़ के पार
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Nifty IT underperforms dragged by TCS | Trade Nivesh
About 972 shares have advanced, 1347 shares declined, and 181 shares are unchanged.
Indian stock market continues trading on a positive note but is off the high point of the day with Sensex up 49.81 points at 40494.96, and the Nifty added 6.80 points at 11938.30.
Nifty IT shed a percent after rupee trade higher against the US dollar at 71.12 level. The top losers included Tata Consultancy Services which shed over 3 percent followed by Tech Mahindra and HCL Technologies.
Metals along with auto stocks continue to trade in green led by SAIL, Jindal Steel & Power, MOIL, JSW Steel, Tata Steel and Vedanta.
The top gainers from the auto space included Maruti Suzuki which jumped over 2 percent after its production rose in November by 4.33 percent, after having reduced output for nine straight months due to lower demand. The other gainers included Bharat Forge, Ashok Leyland, MRF and Motherson Sumi Systems.
The top gainers from the Nifty index are BPCL, JSW Steel, HDFC, Adani Ports and Axis Bank while the top losers include TCS, HCL Tech, Cipla , SBI and Larsen & Toubro.
The most active stocks are YES Bank, State Bank of India, Indiabulls Housing Finance, Maruti Suzuki and Reliance Industries.
About 972 shares have advanced, 1347 shares declined, and 181 shares are unchanged.
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Safe & Accurate Trade tradenivesh
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Safe & Accurate Trade Signals | Trade Nivesh for NSE:SBIN
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Safe & Accurate Trade Signals | Trade Nivesh for NSE:VED
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BANK NIFTY | TRADE NIVESH for NSE:BANKNIFTY TradeNivesh
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TRADE NIVESH STOCK MARKET DAILY REPORT-1 November 2019
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TRADE NIVESH STOCK MARKET DAILY REPORT-1 November 2019
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#BANKNIFTY (BUY) | TRADE NIVESH for NSE:BANKNIFTY by TradeNivesh
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Happy Diwali From the editor-in-chief
India Today Editor-in-Chief Aroon Purie talks about the economic downturn affecting the festive season.
Diwali, the festival of lights and traditionally the Hindu New Year, kicks off with Dhanteras, the celebration of wealth and prosperity. This is one occasion when spending in India kicks into high gear. The lights, however, are considerably dimmer this Diwali. There isn’t much to cheer about as India Inc stares into what appears to be the bottomless abyss of an economic downturn. trade nivesh
GDP growth slowed five quarters in a row, declining from a peak of 8.1 per cent at the beginning of the first quarter of FY19 to 5 per cent in the first quarter of this fiscal year. The Reserve Bank of India (RBI) has lowered India’s growth forecast for FY20 to 6.1 per cent from 6.9 per cent it projected earlier. The World Bank has cut India’s GDP growth forecast from 7.5 per cent to 6 per cent this year.
India is a consumption-driven economy. When consumers buy goods and services, the wheels of the economy turn. That has not been happening for several quarters and for various reasons.
Fewer jobs (at 6.1 per cent in 2017-18, unemployment was the highest in 45 years, as per official data), a freeze in salary hikes and bonuses, layoffs and uncertainty in businesses are making people cut down on spending. Incomes and wages in rural India, where 67 per cent of India’s population lives, have been hit because of low food prices. Agriculture GDP grew just 2 per cent in the first quarter of the current fiscal, compared to 5.1 per cent in the same quarter of the previous fiscal. trade nivesh
Consequently, demand for FMCG products, consumer appliances, vehicles and houses has gone down. Growth in private consumption expenditure is down to an 18-quarter low of 3.1 per cent in June. Savings, too, are at an all-time low because of static or falling incomes.
Many say the severe slowdown in demand is at the heart of the present crisis. The malaise runs deep. Manufacturing output, which accounts for more than three-quarters of the Index of Industrial Production (IIP), showed a decline of 1.2 per cent in August, against a 5.2 per cent rise in the same period a year ago. Industrial output growth contracted 1.1 per cent in August as per IIP data, the worst in seven years. India has lost its lead in sectors such as gems and jewellery, textiles and leather exports to other rising Asian economies. Construction, which is a big employment generator, is decelerating because of the slump in real estate. Exports, too, are sliding and fell 6.57 per cent in September compared to a year ago. Discoms are groaning under a combined debt of over Rs 2.4 lakh crore. Corporate sector revenue growth fell to an 11-quarter low in the first quarter of FY20. Investments plunged to a 15-year low in the quarter ending June 2019.
The banking and financial services sector is in a mess. There is liquidity, but no loans are being given. Banks are tottering under a mountain of non-performing assets of close to 10 per cent of their total assets. They are fearful of giving fresh loans in case they add to their woes. Non-banking financial companies, which are a major source of consumer loans, are in a mess of their own and unable to extend credit for that reason. The interlocking gears of the financial system are jammed. And the string of collapsing financial institutions has further sapped consumer confidence in the system.
The World Bank’s South Asia Economic Focus report released this month terms India’s cyclical slowdown as severe’. Our cover story, Not So Happy Diwali’, by Deputy Editor Shwweta Punj and Executive Editor M.G. Arun, looks at the downturn and takes stock of the measures to mitigate it. This is our sixth cover on the economy since April this year.
The government’s attempted rescue act includes a host of measures, among them slashing corporate tax rates. There has been a near-unprecedented series of interest rate cuts by the RBI. But even these don’t seem to be yielding results in the short term.
These are exceptional times and they call for exceptional measures. Perhaps the government could take cues from what the US did to stave off the crippling recession in 2008. The US Federal Reserve spent nearly 800 billion dollars to pre-empt an imminent economic meltdown.
The Indian economy is in a vicious downward spiral and the Modi government needs to stop worrying about the fiscal deficit and start pouring money into the economy to stimulate growth. They need to put money in people’s pockets in every way they can. This appears to be the only way to get the jammed wheels of the economy moving again.
There is, however, a glimmer of hope. The World Bank report predicts growth will pick up next year going up to 6.9 per cent in 2020-21 and 7.2 per cent the following year. This, too, will depend on how the government tackles the current downturn. First, it has to recognise the seriousness of the crisis rather than dismiss it as a temporary cyclical downturn. The Modi government has yet to show the same audacity and finesse in handling the economy that it does in dealing with political issues. Hopefully, they will do what it takes and the economy will be humming again by next Diwali.
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ICICI BANK | TRADE NIVESH for NSE:ICICIBANK by TradeNivesh
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Trade Nivesh Utilize Directly
While DeHaan predicts we're "not to the point of needing that oil just yet," as the Saudis have said they have inventories to utilize to make up for any drop in output, the SPR "would help limit the impact of oil prices and thus gas prices."
Another factor that can bear influence on oil prices is the Organization of the Petroleum Exporting Countries (OPEC) which has control of about one-third of the world's oil production, according to DeHaan, who said, "they control a significant amount of oil production."
What does this all mean for consumers?
For consumers, "The impact at the pump is kind of directly proportional to the level of shock that any news would bring."
As for short-term effects for consumers from Monday's spike in oil prices, DeHaan says consumers shouldn't be too wary yet.
We may see "gas prices going up a few cents per day for the next few weeks," he predicted. "I'd say the total impact is going up 10 to 25 cents a gallon two weeks from now."
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Trade Nivesh Capital Taken
A picture taken on September 15, 2019, shows an Aramco oil facility near al-Khurj area, just south of the Saudi capital Riyadh.
Another factor that can affect the price of oil in "times of crisis" or "major disruption" is the Strategic Petroleum Reserve, which President Donald Trump tweeted Sunday evening that he authorized the release of in an amount "sufficient to keep the markets well-supplied" in the wake of the news out of Saudi Arabia.
The SPR simply "acts to limit the concern of oil trade being severely disrupted," according to DeHaan.
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