May 14, 2013
The provisional headline inflation rate (Wholesale Price Index, WPI) decelerated to 4.89% YoY in April 2013 vs. 5.96% YoY in March 2013. This is the first time since Nov 2009 that WPI inflation has decelerated below 5%. The seasonally adjusted WPI index declined by 0.3% MoM in April (vs. decline of 0.5% MoM in March based on provisional data). The headline inflation in April was below consensus expectations of 5.45%. The deceleration in headline inflation was mainly due to a high base effect, deceleration in food prices (mainly vegetable prices) and lower global commodity prices.
The final inflation for February 2013 was revised Read more
March 14, 2013
Investigative Blogger Cobrapost.com has put up video clippings alleging that the branches of three private banks — HDFC Bank, ICICI Bank, and Axis Bank—were willing to help its reporter launder money, offer lockers to stack cash, and invest these funds in insurance products.
The Board of Managements of these banks are currently investigating the matter and have issued a statement that they are concerned about the allegations and that they have well-defined Know Your Customer (KYC) and Anti- Money Laundering policies in place. Read more
February 27, 2013
Credit Suisse discusses Five Favorable and Important Factors that can lead the Sensex to sustain above the 20,000 mark Read more
February 15, 2013
In a Research note a Week ago, Morgan Stanley Downgraded India’s Sovereign bank the State Bank of India – SBI to a Sell with a Target price of Rs 1625. Some of the concerns raised by Morgan are – Revenue progression (loan growth plus fees) likely to be tepid given slowdown in economic growth, Asset quality will likely remain under pressure, given peak lending rates and slowing growth, Core Tier I capital ratio is one of the weakest amongst Asian peers and Multiples could be under pressure as revenue growth slows and asset quality pressures increase.
SBI announced its Results for the 9 Months ended Dec-2012. The Bank Read more
October 30, 2012
The Finance Minister thinks he has done enough for the RBI to go ahead with the Rate Cuts. However, we think not as Inflation Data reflects that Government is still under crisis and is just managing the Press / Media phenomenally well.
RBI Gov Subbarao will likely not want to take to take chances with the RBI’s inflation fighting image by cutting rates as inflation will persist at a high 7.5-8% till December. CRR cuts, Read more
October 19, 2012
In the last decade of being the Chief Minister of Gujarat, Mr. Narendra Modi accelerated the already progressive state of Gujarat to put it on the growth curve which no other state – Delhi or Mahrashtra with massive support from Central Government can match.
Industries in Gujarat
Gujarat has bucked overall trend of depending on Agriculture and industry still accounting for 40% of GSDP vis-a-vis 27% for India. Gujarat also scores well when compared to other industrialized states like Maharashtra and Tamil Nadu, which have been witnessing fall in share Read more