The industry has welcome the RBI measures but there is a fear that if lockdowns do not end soon, the sector may face a deeper crisis. In fact, lockdowns have already started hitting MFI operations.
In today’s edition of Moneycontrol Pro Panorama: RBI’s shot of liquidity, a stock for risk takers, PMI in good shape, what April auto sales say and more
In this edition of Big Story, Moneycontrol's Sakshi Batra decodes the various measures announced by the RBI and their impact on the market.
Much of the economic package announced by the government is loans and interest subventions. Loans aren’t free money. It needs to be paid back to lenders and in the absence of demand, the RBI will be forced to come up with more band-aid measures.
Sushil Finance has come out with its report on currency. "Indian Rupee is expected to trade on positive note on the back of weakness in DX coupled with rise in risk appetite in the global markets. It has resistance at 61.65," says the research firm.
Sushil Finance has come out with its report on currency. "Indian Rupee is expected to trade on mixed note. Narrowed current account deficit and weakness in DX may support currency to trade positive," says the research firm.
Indian Rupee is expected to trade on mixed note. Narrowed current account deficit and strong HSBC manufacturing PMI may support currency to trade positive, says Sushil Finance.
Indian Rupee is expected to trade on positive note on the back of Weakness in DX coupled with rise in risk appetite in the domestic markets. One can USDINR December on rallies, says Sushil Finance.
Indian Rupee is expected to trade on mixed note. One can sell USDINR December below 62.90 as it has resistance at 62.90/63.15 and support at 62.45/62.6, says Sushil Finance.
Indian Rupee is expected to trade on mixed note. It has resistance at 63.45. "Continued demand for Dollar from Importers and disappointing economic data from the country may prove fatal for the currency," says Sushil Finance.
Indian Rupee is expected to trade on positive note on the back of weakness in DX. Further, Strong Fund flows and RBI measures to attract inflows will support currency to gain strength. One can sell USDINR November contract on rallies. It has a support of 61.85/62.15 and resistance at 62.70/62.9, says Sushil Finance.
Accoriding to Sushil Finance, sharp fall in the currency may be prevented or even reversal may be seen due to strong fund inflows and RBI measures to prevent sharp depreciation in Indian Rupee.
Dolat Capital is bullish on HDFC Bank and has recommended 'Accumulate' rating on the stock with a target price of Rs 685 in its October 15, 2013 research report.
Emkay Global Financial Services has come out with its report on banking & financial services sector. The research firm has retained its positive view on Housing Development Finance Corporation (HDFC) and LIC Housing Finance. However, advised to hold Mahindra & Mahindra Financial Services (MMFS).
Accoriding to Sushil Finance, Indian rupee is expected to trade on negative note on the back of rise in risk aversion in the global markets coupled with strength in DX. One can buy USDINR October on dips, it has resistance at 62.75/62.95.
According to Sushil Finance, Indian rupee is expected to trade on mixed note as the weakness in DX, RBI measures to attract more inflows and foreign fund flows may support currency to gain strength.
The USDINR pair is moving gradually towards its fair value and we see USDINR in a band of 60.50-63.50 in the short-term. However, it would be difficult for the pair to trade sub 60 in the absence of any significant domestic policy reforms. See the USDINR ending the December quarter at 64.00 handle against the US dollar, says Nirmal Bang.
Sushil Finance has come out with its report on Indian Rupee. "expect Indian Rupee to trade on negative note on the back of weak economic data from the country. Further, concerns over country‘ economic health, along with worries over possible US federal debt default may act as an undesirable factors for the Indian Rupee," says the research firm.
Sushil Finance has come out with its report on Indian Rupee. "Ease in geopolitical tensions and RBI measures to attract more inflows may prevent sharp fall in the Indian Rupee or even reversal may be seen," says the research firm.
Ambit Capital feels that the RBI measures indicate that the market is reacting negatively owing to the volatility. He also feels that the central bank is doing its bit for controlling inflation.
Sushil Finance has come out with its report on Indian Rupee. According to the research firm, rupee is expected to trade on positive note on the back of weakness in DX. Further, RBI measures to attract more inflows may support currency to gain strength, says report.
Sushil Finance has come out with its report on Indian Rupee. According to the research firm, rupee is expected to trade on mixed note on the back of mixed global market sentiments coupled with strength in DX.
Sushil Finance has come out with its report on Indian Rupee. According to the research firm, USDINR September future has resistance at 68.4/68.8 and support at 66.5/66.9
Angel Broking has a cautious stance on the banking sector and recommend to stay with the defensives in the near term. "After the recent correction in prices, HDFC Bank becomes a buy for us. We like ICICI Bank and Axis Bank," says the research firm.
Yes Bank, which jumped 17 per cent during the day to touch an intra-day high of Rs 284.40, settled with gains of just 5.27 per cent at Rs 255.55 on the BSE.