Fitch has maintained India’s sovereign rating unchanged at BBB-. This is the lowest investment grade with a stable outlook. While Fitch expects 7.8% GDP growth in 2018-19, it expects the growth to taper after that due to a combination of weak financial Read more [...]

It was a day on which IDBI Bank reported losses of Rs.3602 crore for the second quarter. Over the last one year, IDBI Banks’ gross NPAs have shot up from 24.98% to 31.78%. Despite doubling provisioning for this quarter, the net NPAs are still at above Read more [...]

Tata Steel consolidated net profits for the second quarter jumped three-fold to Rs.3116 crore. Its EBITDA per tonne at Rs.19,000 was the highest level in 6 years. The company’s sales for the quarter were up by 34% at Rs.42,946 crore, largely driven Read more [...]

The markets came under pressure despite falling crude prices as concerns over global growth came back to haunt the markets. The loss over 100 points with a 1:5 A/D ratio clearly indicated at all round selling in markets. With the Dow down by over Read more [...]

CPI inflation for the month of October came in sharply lower at 3.31% while the IIP growth for September was marginally lower at 4.5%. The lower IIP was driven by weak growth in mining and manufacturing of capital goods. The flood situation had also hit Read more [...]

Nifty bounced back nearly 500 points last week and settled close to the 10,600 level as the low crude oil prices led to a relatively stronger rupee and buoyancy in stock markets. Buoyancy is likely to continue in markets. The big data points this Read more [...]

Foreign portfolio investors have infused Rs.4800 crore into the Indian markets in the first five days. However, nearly 95% of the money came into debt and only 5% of the inflows came into equity markets. This is still a relief after the massive selling Read more [...]

Why Dr. Raghuram Rajan is wrong about note ban and GST In many ways, Dr. Raghuram Rajan has been the equivalent of an Elvis Presley of central banking. With him around, there was never a shortage of spoken words or decisive action. To his credit, he Read more [...]