• While the Governor has invited the BJP to form the government, the numbers are still unclear
• The Supreme Court judgement will also have a bearing since the Congress-JD(S) combine already has 116 seats

• China current runs a trade surplus of $375 billion and that has been one of the complaints of the Trump government
• China will now look to increase its imports of US products to ensure that this trade deficit level comes down gradually

• Bajaj has managed to grow its profits and margins over the last 5 years on the back of a strong retail penetration
• With Gross NPAs under 1%, Bajaj Finance is already one of the most profitable and efficient NBFCs in India

• This was largely driven by supply constraints, sanctions on Iran and rising demand for oil in line with a global GDP revival
• India relies on imports for 75% of its oil needs and this could become a big policy challenge for the government

• Apart from oil, the worries over rising CAD and heavy demand from importers also played its role
• RBI has not yet started intervening in the currency markets as a weaker rupee will be beneficial for exports

• This rebalancing was necessitated after the MSCI included China A-Shares into the MSCI-EM index
• India’s weightage in the MSCI will come down by 14 basis points forcing ETFS and Index Funds to sell

• Numetal has called for fresh bidding after it was disqualified over the directorship of a Ruia scion on its board
• Arcelor had bid for Essar Steel in February and now has also agreed to repay the Uttam Galva loan to be eligible

• The Ericsson demand had threatened to derail the RCOM deal with Jio and push the company into NCLT
• However, with a $4 billion deal with Jio in the offing, an out-of-court settlement with Ericsson may be the way forward

• This virtually bars any court in India from accepting petitions on the subject of crypto currencies
• All such cases will be consolidated in SC as a single case so that a proper centralized approach could be crystallized

• Indigo continued to dominate with 39.8% market share with Jet, AI and Spice Jet accounting for the next 40%

Growth in air traffic has been one reason why aviation stocks are still attractive despite rising crude oil prices

• That rise in yields virtually takes away most of the yield correction we saw post the monetary policy
• At the short end of the debt markets, call money rates also crossed the 6% mark before settling slightly below the mark

• Compared to 2008, Current Accounts of EMs has moved from an average 4% surplus to a deficit
• Also government debt in EMs as a percentage of GDP has risen from under 30% in 2008 to 50% currently

• With inflation higher at 4.58%, Goldman sees status quo on rates with a hawkish tone
• Goldman expects that the government may wait to see the outcome of MSP in the Kharif season before a rate call

• With Karnataka elections completed, the focus could shift back to the price of petrol and diesel
• With budgetary constraints preventing an excise duty cut, higher petrol and diesel prices could fuel inflation

• According to Fitch the biggest worry is that this debt has grown four-fold from $5 trillion in the year 2008
• While interest rates drove this binge, a stronger dollar could actually push a lot of borrowers into bankruptcy

• Both the segments saw a sharp growth in volumes in the FMCG segment, especially HUVR at 11% top-line growth
• The FMCG segment has been seeing the rural demand grow at a much faster rate with higher rural spending power

• JSW Steel plans to sink in nearly $6 billion to expand its capacity by 37% in the next 2 years
• Tata Steel is already having a 5 year plan to expand its capacity to 26 million tonnes

• Bond yields in the US are already above the 3% mark and Macquarie expects this to go up to 4%
• Stronger yields are expected on the back of higher inflation, hawkish Fed policy and a revival in US growth

• This loss was partially driven by the Nirav Modi scam and partially by the stringent RBI provisioning norms
• With gross NPAs above 18%, PNB would require urgent capital infusion to see through the next few quarters

• Higher inflation was driven by higher food prices and higher crude oil prices with its downstream effects
• The real picture on inflation may only be evident after the MSP impact on Kharif output is evaluated

• Dena Bank was already under Prompt Corrective Action (PCA) with restrictions on dividends and top management pay
• Now, Dena Bank will have to stop lending activities altogether and just focus on recoveries of existing outstanding loans