Driven by spike in global commodity prices, benchmark Sensex-30 companies are likely to post 9.1 percent jump in profits, for the fourth quarter of the fiscal gone by, says a report.
At the side-lines of CNBC-TV18 Global Natural Resources Conclave in Delhi, Varinder Bansal caught up with Sajjan Jindal of JSW Steel and began by asking him whether the rally in commodity prices is sustainable.
While three members highlighted the need to change the stance from accommodative to neutral, four mentioned that inflation excluding food and fuel remains â€œstickyâ€ at close to 5 percent
Tyre maker Ceat posted weak set of numbers in the third quarter with single digit margins for the first time in at least eight quarters. Company‘s Chief, Anant Goenka said higher commodity prices and demonetisation impacted the margins.
With international oil and gas and commodity prices witnessing a decline, engineering firm KEC International is expecting its overseas business to pick and is eyeing nearly 45 per cent of its revenues from this, in fiscal 2017-18.
India‘s GDP growth has improved from 5.6% in FY13 to 7.6% in FY16 led by resilient consumption demand and higher government spending amid weak private-sector investments.
India's exports are turning the corner and it would start showing healthy growth in the coming months on account of gradual strengthening of global demand and hardening commodity prices.
Economists surveyed by Reuters had forecast a 0.4 percent fall in output compared with a provisional 0.8 percent year-on-year fall in April.
TV Narendran, Managing Director, Tata Steel says that for next 3 years the company will focus on ramping up Kalinganagar facility and targets a production capacity of 1 MTPA out of this facility.
Implementation of 7th Pay Commission recommendations is expected to boost consumption by Rs 45,110 crore and increase savings by Rs 30,710 crore, India Ratings and Research (Ind-Ra) has said
"Vedanta has produced robust results in a volatile market with relentless focus on cost discipline and improved productivity, leading to strong earnings and record cash flow," Chairman Navin Agarwal said while addressing 51st annual general meeting of Vedanta in Goa.
WPI inflation is expected to average around 0.6 percent in 2016 compared with (-) 2.7 percent in 2015, owing to rising input costs, especially commodity prices, says a Nomura report
Emerging markets have seen a sharp rally over the past few months but it may now peter out, says Prashant Periwal, Director of Altima Partners LLP.
After leaving rates unchanged at a policy review last Tuesday, Governor Raghuram Rajan said the Reserve Bank of India, which has targeted inflation at 5 percent by March 2017, was still looking for room to reduce interest rates, but there were concerns over upward pressure on food and commodity prices.
The RBI kept its policy repo rate unchanged at 6.50 percent but kept room for further cuts open, though it raised concerns over upward pressure on food and commodity prices.
Merger and acquisition activity in India is set to retain its momentum through this year, as deal pipeline remains healthy and is likely to increase further in the next 12 months, says a survey
A sudden turnaround in Chinese steel prices off the back of government economic stimulus efforts changed everything. Belying a global steel slump, the firm came back to life, sold its 100,000 tonnes of inventory and now churns out about 4,000 tonnes of product each day, including rebar and wire rod.
Strategic debt restructuring is a useful tool, said Kochhar, adding, the bank has successfully managed to find a buyer for one of the companies it had invoked the restructure for.
The Washington-based lender now expects the developing East Asia and Pacific (EAP) region, which includes China, to grow 6.3 percent in 2016 and 6.2 percent in 2017, slowing from 6.5 percent growth in 2015.
The pay hike impact will also jack up food prices, the report said, adding that "food prices could consequently increase, leading to inflation rising above the baseline by 80-100 bps in 2016-17, even assuming effective government policies relating to food stocks, procurement and minimum support prices".
Profitability of corporates is likely to be sluggish next fiscal, growing about 9 per cent, and the performance of commodity selling and investment-linked companies is likely to remain subdued, India Ratings and Research (Ind-Ra) said today.
Pradeep Bakshi, President & COO â€“ UPBG & MCED, Voltas acknowledged that certain smaller players in the industry have cut prices by 15-20 percent, but said Voltas may not follow suit. He, however, did not rule out offering other freebies like extended warranty to push sales.
Crude prices likely to hover in the early USD 40- per-barrel range, says Seth Kleinman, Head of Energy Strategy, Citigroup. But rebound in steel prices is not sustainable, he adds.
According to the Japanese financial services major, the current account deficit is likely to narrow despite sluggish export volumes and rising import volumes.
The consumer price rise reported today was up from January's 1.8 percent. Food prices surged 7.3 percent, up from the previous month's gain of 4.1 percent.