The document provides an economic and market update and outlook for India. It discusses that while May saw the beginning of a bull run, June was more of a reality check with several domestic and global concerns emerging. However, the overall diagnostic is still positive in the short term. It summarizes economic data and market performance in India and globally. It expresses a positive outlook for the Indian equity market given reforms by the new government and expectations of a revival in the investment cycle and growth. Key sectors like banking, energy, infrastructure, automobiles are marked overweight.
The document provides an economic outlook and summary of key markets for May 2014. It discusses expectations for the upcoming general election in India and implications for various asset classes. The equity outlook remains positive on expectations that a reform-oriented government will accelerate the economy and revive the growth and earnings cycle. The document recommends overweight positions in healthcare, IT/ITES, banking, energy, and neutral stances on power utilities and automobiles.
The document provides an economic outlook and analysis across various sectors in India. It discusses that the RBI kept interest rates unchanged in its recent monetary policy review due to ongoing uncertainties around inflation. While inflation is falling, risks remain from the monsoon season, upcoming general elections, and US Fed tapering. The equity outlook remains positive with expectations of strong corporate earnings growth. Key sectors that are expected to perform well include banking, infrastructure, IT, and pharma. Overall, the analysis maintains a bullish stance on the Indian equity market.
The document provides an analysis of the Indian power sector. It notes that the power sector is one of the largest and most important industries in India. The power sector fulfills the energy requirements of other industries and is critical to economic growth. The document summarizes the sources of power generation in India, with thermal power making up the majority at 83% and sourced primarily from coal. Hydro and nuclear power are also discussed as other sources of generation. Public sector entities have the largest share of installed power capacity in India at over 75%.
ABOUT THIS PUBLICATION
This Overview is based on ESADE’s Economic Report, January 2014, produced by the Department of Economics. This article was written by Prof. Josep M. Comajuncosa. The original document was produced with the support of Banc de
Sabadell.
ChoiceBroking - Q2FY16 GDP growth at 7.4%; robust manufacturing expansion indicates revival in economic scenario. To read our monthly economic outlook please click here http://bit.ly/1QTqJKI
Will RBI rate cut keep inflation under check in 2015?IndiaNotes.com
While RBI has begun the rate cut cycle, plenty of headroom for further cuts would be generated going forward as low inflation would be the defining feature of 2015.
The document provides an economic update and outlook for India from the perspective of an advisory firm. It discusses positive developments in the domestic economy including higher than expected GDP growth in the first quarter and signs of recovery in industrial production. Inflation remains high but fuel prices are declining. The new government is pursuing reforms and the outlook is hopeful for continued economic revival. Globally, recovery is ongoing in the US and Eurozone which supports Indian markets, while falling oil prices are a major positive.
Euro Area is recovering slowly, with its major member countries registering lower-than-expected growth rates in the third quarter. Major Asian economies have shown diverse growth trends in the last few quarters. We cover this in the section on Global Trends in this month’s issue of Economy Matters.
In the section on Domestic Trends, we discuss the trends emanating out of the recent releases on GDP, Current Account, IIP and Inflation data during the month of December 2013.
The Sectoral spotlight for this issue is on Electricity, which remains an important contributor to GDP growth. We evaluate the impact of the Electricity Act, 2003 on the sector’s performance.
In the Special Article, we provide a snapshot of India’s exports sector along with analyzing the important sectors in exports such as services and tourism.
The document provides an economic outlook and summary of key markets for May 2014. It discusses expectations for the upcoming general election in India and implications for various asset classes. The equity outlook remains positive on expectations that a reform-oriented government will accelerate the economy and revive the growth and earnings cycle. The document recommends overweight positions in healthcare, IT/ITES, banking, energy, and neutral stances on power utilities and automobiles.
The document provides an economic outlook and analysis across various sectors in India. It discusses that the RBI kept interest rates unchanged in its recent monetary policy review due to ongoing uncertainties around inflation. While inflation is falling, risks remain from the monsoon season, upcoming general elections, and US Fed tapering. The equity outlook remains positive with expectations of strong corporate earnings growth. Key sectors that are expected to perform well include banking, infrastructure, IT, and pharma. Overall, the analysis maintains a bullish stance on the Indian equity market.
The document provides an analysis of the Indian power sector. It notes that the power sector is one of the largest and most important industries in India. The power sector fulfills the energy requirements of other industries and is critical to economic growth. The document summarizes the sources of power generation in India, with thermal power making up the majority at 83% and sourced primarily from coal. Hydro and nuclear power are also discussed as other sources of generation. Public sector entities have the largest share of installed power capacity in India at over 75%.
ABOUT THIS PUBLICATION
This Overview is based on ESADE’s Economic Report, January 2014, produced by the Department of Economics. This article was written by Prof. Josep M. Comajuncosa. The original document was produced with the support of Banc de
Sabadell.
ChoiceBroking - Q2FY16 GDP growth at 7.4%; robust manufacturing expansion indicates revival in economic scenario. To read our monthly economic outlook please click here http://bit.ly/1QTqJKI
Will RBI rate cut keep inflation under check in 2015?IndiaNotes.com
While RBI has begun the rate cut cycle, plenty of headroom for further cuts would be generated going forward as low inflation would be the defining feature of 2015.
The document provides an economic update and outlook for India from the perspective of an advisory firm. It discusses positive developments in the domestic economy including higher than expected GDP growth in the first quarter and signs of recovery in industrial production. Inflation remains high but fuel prices are declining. The new government is pursuing reforms and the outlook is hopeful for continued economic revival. Globally, recovery is ongoing in the US and Eurozone which supports Indian markets, while falling oil prices are a major positive.
Euro Area is recovering slowly, with its major member countries registering lower-than-expected growth rates in the third quarter. Major Asian economies have shown diverse growth trends in the last few quarters. We cover this in the section on Global Trends in this month’s issue of Economy Matters.
In the section on Domestic Trends, we discuss the trends emanating out of the recent releases on GDP, Current Account, IIP and Inflation data during the month of December 2013.
The Sectoral spotlight for this issue is on Electricity, which remains an important contributor to GDP growth. We evaluate the impact of the Electricity Act, 2003 on the sector’s performance.
In the Special Article, we provide a snapshot of India’s exports sector along with analyzing the important sectors in exports such as services and tourism.
The document provides an economic update and outlook for various markets including equity, debt, commodities, real estate, and forex. It discusses recent inflation and growth trends in India and globally. Recommendations are given to overweight sectors like healthcare, telecom and IT while remaining neutral or underweight on others given the domestic and international economic environment.
The document provides an economic outlook and analysis for India. It discusses recent economic data and performance across various sectors in India and globally. Some key points:
- GDP growth improved slightly to 4.8% in Q2 FY14 but remains below 5%. Services sector growth is slowing.
- Inflation remains elevated with WPI at 7.52% and CPI at 11.24% in Nov 2013. Food inflation is a major contributor.
- RBI kept policy rates unchanged in its recent meeting despite higher inflation, expecting food prices to decline. Rate hikes may resume in H1 2014.
- Global growth outlook remains positive which will support equity markets. Recovery is strengthening in the
The document provides an overview of global and domestic economic conditions and outlooks across various sectors in a monthly investment advisory. Some key points:
- Global equity markets saw declines in September due to ongoing weakness in China and fears of rising US interest rates. Domestic Indian markets were also impacted by foreign outflows.
- The RBI cut interest rates by 50 basis points to boost the Indian economy amid signs of recovery in industrial growth and moderating inflation. This was welcomed by markets.
- Sector outlooks varied with IT, healthcare and financials expected to outperform while metals and utilities faced challenges due to global and regulatory factors. Government policy changes could boost infrastructure.
The document provides an economic and market update for May 2014. It discusses major macroeconomic themes including the recovery in the US and Eurozone economies. It notes some potential risks in the short term from geopolitical conflicts in Ukraine and the Middle East. Overall, the outlook remains positive for equities in the long term, though increased volatility is expected in the short term. Key economic data from the US, UK, Europe, China and other regions is also summarized.
A more simplified and reader-friendly version of P.K Basu's - India Economic Outlook - 2014. It deduces from past trends and outlines the current economic scenario around the world and its implications on the Indian economy.
The key direct tax proposals include increasing the surcharge on individuals earning over Rs. 1 crore to 15%, taxing dividend income over Rs. 10 lakhs at 10%, and introducing an equalization levy of 6% on non-resident companies for digital transactions. Notable corporate tax proposals include a concessional 10% tax rate for income from patents developed in India, 100% deduction of profits for 3 years for eligible startups, and phasing out of certain tax exemptions by 2020. The budget also introduced an income declaration scheme and a direct tax dispute resolution scheme.
The document provides an analysis of the Indian economy and markets in light of recent volatility driven by expectations of tapering of US Federal Reserve stimulus. It summarizes that weakening of the rupee will increase fiscal deficits and hurt growth. GDP growth is projected to slow further in the short term. Downgrades are possible for both GDP and corporate earnings forecasts. Volatility is expected to continue until the Fed's policy decision is clear.
This monthly briefing highlights that financing conditions improve in euro area peripheral countries and in emerging economies, that the US economy bounces back after a difficult first quarter and that China’s first-quarter GDP growth is the slowest in two years.
For more information:
http://www.un.org/en/development/desa/policy/wesp/wesp_mb.shtml
Currency Trading Outlook 17th february 2014kailash soni
The document provides an outlook on various currencies against the Indian rupee for the week ending February 17th, 2014. It analyzes the movement of the rupee against the US dollar, euro, British pound, and Japanese yen due to domestic and global economic factors. Technical analysis indicators are also mentioned to provide support and resistance levels for traders.
The document provides an overview of the key topics covered in the Indian Economic Survey of 2011-12, including:
1) What is an economic survey and its purpose of reviewing the previous year's economic performance and prospects.
2) The status of the Indian economy in 2011-12, with growth estimated at 6.9% compared to 8.4% in the previous two years, largely due to weakening industrial growth.
3) Highlights and conclusions from the survey covering fiscal developments, prices and monetary policy, trade, agriculture, industry, infrastructure and other sectors.
Inflation in Nigeria increased to 9.5% in October, up from 9.4% in September. Imported inflation and higher food prices such as rice contributed to rising consumer prices. Urban inflation in Lagos also rose in October, driven by increases in the prices of rice, tomatoes, and onions. Inflation is increasing across Sub-Saharan Africa as well, with double-digit inflation seen in Angola and a sharp rise in Kenya. Nigerian monetary authorities will discuss interest rates at their upcoming November meeting to address high inflation and steer the country toward growth in 2016.
Headline inflation in Nigeria is forecast to increase to 9.4% in September, up from 9.3% in August, marking the eighth monthly increase in inflation in 2015. Rising food and commodity prices, particularly imported items, are contributing to higher inflation, despite a drop in diesel fuel costs. Urban inflation in Lagos also rose in September to 11.56% due to food price increases from religious holiday celebrations. Inflation is rising across Sub-Saharan Africa as well, driven by factors such as expensive imports and falling oil revenues. Nigerian inflation is expected to continue increasing until the end of the year due to higher spending during end-of-year celebrations.
The document provides an outlook and analysis of various currencies for the month of March 2017. It predicts that the Indian Rupee will appreciate due to strong economic fundamentals and foreign fund inflows. The US Dollar is expected to strengthen on expectations of a Federal Reserve interest rate hike. The Euro is forecasted to weaken ahead of key Dutch elections and on a stronger dollar. The Sterling Pound is anticipated to decline as Brexit negotiations begin, but robust economic data may cushion the downside. The Japanese Yen is expected to rise due to safe haven demand and low inflation.
The document provides an economic and market update for November 2013. It discusses positive performance in global equity markets and stability in the Indian rupee and debt markets in October. The Chief Investment Officer notes that while markets have reached new highs, fundamentals are also improving as earnings growth is catching up to price increases. Some market optimism also reflects speculation around the next elections in India. Overall the outlook is cautiously positive but volatility could increase from unexpected events.
The document provides an overview of various markets and economic indicators for October 2015. It notes that US GDP growth slowed in Q3 adding to uncertainty around potential Fed rate hikes. China's GDP growth also slowed. Domestically, Indian markets rebounded in October due to stabilization in emerging markets and signs of economic recovery. Going forward, markets are expected to consolidate with limited volatility.
Complete report of our Economic Outlook Survey for fiscal 13-14 indicates a a moderation in growth going ahead. The survey results indicate GDP growth to slow down to 5.0% in the current fiscal year. This is a downward revision from the 6.0% growth estimate that was reported in the previous round of the survey.
This survey was conducted in the months of August / September 2013 and drew responses from leading economists primarily from the banking and financial services sector.
The Union Finance Minister Shri Arun Jaitley tabled the Economic Survey 2016-17 today, the first day of the Budget Session of the Parliament. The Economic Survey says that the adverse impact of demonetisation on GDP growth will be transitional and the economy will recover with remonetisation. The Survey states that once the cash supply is replenished, which is likely to be achieved by end of March 2017, the economy would revert to normal. The GDP growth in 2017-18, as per the survey, is projected to be in the range of 6¾-7½ percent.
The Survey suggests a few measures to maximise long-term benefits and minimise short-term costs. One, fast remonetisation and early elimination of withdrawal limits. This would reduce GDP growth deceleration and cash hoarding. Two, continued impetus to digitalisation while ensuring that this transition is gradual and inclusive, and appropriately balances the costs and benefits of cash versus digitalisation. Three, following up demonetisation by bringing land and real estate into the GST. Four, reducing tax rates and stamp duties.
This is an analysis and brief overview document on the Survey
The document discusses the following:
1) Indian markets performed well in May with the Nifty 50 index rising 3.4% and outperforming global markets. Mid and small cap indices fell but have outperformed so far in 2017.
2) Inflation continued to surprise on the downside, falling to 2.99% in April. Wholesale inflation also declined and core inflation is at a series low. Lower global commodity prices and a favorable base will likely keep inflation low.
3) The RBI's monetary policy was dovish in line with lower growth and inflation data. While rates were kept unchanged, the tone and forecasts signal potential future rate cuts to boost the economy.
The document provides an overview of global economic conditions and labor markets in Q3 2014. It discusses modest projected global growth, varying regional economic performances, and stable to positive labor market outlooks across most regions. Key points covered include ongoing challenges in emerging markets, the strengthening European recovery, steady US job growth and falling unemployment, and stable but slowing growth in China and Japan. The document also summarizes new temporary staffing regulations across several countries.
The Reserve Bank of India (RBI) governor cut the repo rate by 50 basis points (bps) to 6.75% on Tuesday.
The central bank also reduced the inflation forecast to around 4.8% by the end of financial year 2017. After RBI’s action, an immediate recovery in equity markets, which were down at least 1% from the morning. Markets shot into the positive territory—in just over 2 minutes after the announcement.
Bond markets rejoiced with yields on the 10-year benchmark government security moving to 7.57% from 7.73% within minutes.
Repo and reverse repo are tools used by the Reserve Bank of India to control money supply and liquidity in the country. In a repo transaction, banks borrow funds from RBI by selling government securities with an agreement to buy them back later. The reverse repo is the opposite, with RBI borrowing from banks. Repo rate is currently 7.25% while reverse repo is 1% lower at 6.25% to prevent risk-free arbitrage opportunities for banks. RBI uses adjustments to these rates to influence whether liquidity and money supply increases or decreases in order to control inflation.
This document is a dissertation report submitted by Sudheer Parashar to partially fulfill the requirements for a Master of Business Administration degree from Amity University. The report examines the impact of changes in the repo rate by the Reserve Bank of India on bank lending. It discusses how the repo rate affects borrowing costs for banks and how banks may pass these higher costs onto customers through increased lending rates and loan EMIs. The report also analyzes different segments of bank lending as well as factors that influence lending rates. It aims to determine the level of impact of repo rate changes on deposits and loans and provide investment strategy recommendations for the general public.
The document provides an economic update and outlook for various markets including equity, debt, commodities, real estate, and forex. It discusses recent inflation and growth trends in India and globally. Recommendations are given to overweight sectors like healthcare, telecom and IT while remaining neutral or underweight on others given the domestic and international economic environment.
The document provides an economic outlook and analysis for India. It discusses recent economic data and performance across various sectors in India and globally. Some key points:
- GDP growth improved slightly to 4.8% in Q2 FY14 but remains below 5%. Services sector growth is slowing.
- Inflation remains elevated with WPI at 7.52% and CPI at 11.24% in Nov 2013. Food inflation is a major contributor.
- RBI kept policy rates unchanged in its recent meeting despite higher inflation, expecting food prices to decline. Rate hikes may resume in H1 2014.
- Global growth outlook remains positive which will support equity markets. Recovery is strengthening in the
The document provides an overview of global and domestic economic conditions and outlooks across various sectors in a monthly investment advisory. Some key points:
- Global equity markets saw declines in September due to ongoing weakness in China and fears of rising US interest rates. Domestic Indian markets were also impacted by foreign outflows.
- The RBI cut interest rates by 50 basis points to boost the Indian economy amid signs of recovery in industrial growth and moderating inflation. This was welcomed by markets.
- Sector outlooks varied with IT, healthcare and financials expected to outperform while metals and utilities faced challenges due to global and regulatory factors. Government policy changes could boost infrastructure.
The document provides an economic and market update for May 2014. It discusses major macroeconomic themes including the recovery in the US and Eurozone economies. It notes some potential risks in the short term from geopolitical conflicts in Ukraine and the Middle East. Overall, the outlook remains positive for equities in the long term, though increased volatility is expected in the short term. Key economic data from the US, UK, Europe, China and other regions is also summarized.
A more simplified and reader-friendly version of P.K Basu's - India Economic Outlook - 2014. It deduces from past trends and outlines the current economic scenario around the world and its implications on the Indian economy.
The key direct tax proposals include increasing the surcharge on individuals earning over Rs. 1 crore to 15%, taxing dividend income over Rs. 10 lakhs at 10%, and introducing an equalization levy of 6% on non-resident companies for digital transactions. Notable corporate tax proposals include a concessional 10% tax rate for income from patents developed in India, 100% deduction of profits for 3 years for eligible startups, and phasing out of certain tax exemptions by 2020. The budget also introduced an income declaration scheme and a direct tax dispute resolution scheme.
The document provides an analysis of the Indian economy and markets in light of recent volatility driven by expectations of tapering of US Federal Reserve stimulus. It summarizes that weakening of the rupee will increase fiscal deficits and hurt growth. GDP growth is projected to slow further in the short term. Downgrades are possible for both GDP and corporate earnings forecasts. Volatility is expected to continue until the Fed's policy decision is clear.
This monthly briefing highlights that financing conditions improve in euro area peripheral countries and in emerging economies, that the US economy bounces back after a difficult first quarter and that China’s first-quarter GDP growth is the slowest in two years.
For more information:
http://www.un.org/en/development/desa/policy/wesp/wesp_mb.shtml
Currency Trading Outlook 17th february 2014kailash soni
The document provides an outlook on various currencies against the Indian rupee for the week ending February 17th, 2014. It analyzes the movement of the rupee against the US dollar, euro, British pound, and Japanese yen due to domestic and global economic factors. Technical analysis indicators are also mentioned to provide support and resistance levels for traders.
The document provides an overview of the key topics covered in the Indian Economic Survey of 2011-12, including:
1) What is an economic survey and its purpose of reviewing the previous year's economic performance and prospects.
2) The status of the Indian economy in 2011-12, with growth estimated at 6.9% compared to 8.4% in the previous two years, largely due to weakening industrial growth.
3) Highlights and conclusions from the survey covering fiscal developments, prices and monetary policy, trade, agriculture, industry, infrastructure and other sectors.
Inflation in Nigeria increased to 9.5% in October, up from 9.4% in September. Imported inflation and higher food prices such as rice contributed to rising consumer prices. Urban inflation in Lagos also rose in October, driven by increases in the prices of rice, tomatoes, and onions. Inflation is increasing across Sub-Saharan Africa as well, with double-digit inflation seen in Angola and a sharp rise in Kenya. Nigerian monetary authorities will discuss interest rates at their upcoming November meeting to address high inflation and steer the country toward growth in 2016.
Headline inflation in Nigeria is forecast to increase to 9.4% in September, up from 9.3% in August, marking the eighth monthly increase in inflation in 2015. Rising food and commodity prices, particularly imported items, are contributing to higher inflation, despite a drop in diesel fuel costs. Urban inflation in Lagos also rose in September to 11.56% due to food price increases from religious holiday celebrations. Inflation is rising across Sub-Saharan Africa as well, driven by factors such as expensive imports and falling oil revenues. Nigerian inflation is expected to continue increasing until the end of the year due to higher spending during end-of-year celebrations.
The document provides an outlook and analysis of various currencies for the month of March 2017. It predicts that the Indian Rupee will appreciate due to strong economic fundamentals and foreign fund inflows. The US Dollar is expected to strengthen on expectations of a Federal Reserve interest rate hike. The Euro is forecasted to weaken ahead of key Dutch elections and on a stronger dollar. The Sterling Pound is anticipated to decline as Brexit negotiations begin, but robust economic data may cushion the downside. The Japanese Yen is expected to rise due to safe haven demand and low inflation.
The document provides an economic and market update for November 2013. It discusses positive performance in global equity markets and stability in the Indian rupee and debt markets in October. The Chief Investment Officer notes that while markets have reached new highs, fundamentals are also improving as earnings growth is catching up to price increases. Some market optimism also reflects speculation around the next elections in India. Overall the outlook is cautiously positive but volatility could increase from unexpected events.
The document provides an overview of various markets and economic indicators for October 2015. It notes that US GDP growth slowed in Q3 adding to uncertainty around potential Fed rate hikes. China's GDP growth also slowed. Domestically, Indian markets rebounded in October due to stabilization in emerging markets and signs of economic recovery. Going forward, markets are expected to consolidate with limited volatility.
Complete report of our Economic Outlook Survey for fiscal 13-14 indicates a a moderation in growth going ahead. The survey results indicate GDP growth to slow down to 5.0% in the current fiscal year. This is a downward revision from the 6.0% growth estimate that was reported in the previous round of the survey.
This survey was conducted in the months of August / September 2013 and drew responses from leading economists primarily from the banking and financial services sector.
The Union Finance Minister Shri Arun Jaitley tabled the Economic Survey 2016-17 today, the first day of the Budget Session of the Parliament. The Economic Survey says that the adverse impact of demonetisation on GDP growth will be transitional and the economy will recover with remonetisation. The Survey states that once the cash supply is replenished, which is likely to be achieved by end of March 2017, the economy would revert to normal. The GDP growth in 2017-18, as per the survey, is projected to be in the range of 6¾-7½ percent.
The Survey suggests a few measures to maximise long-term benefits and minimise short-term costs. One, fast remonetisation and early elimination of withdrawal limits. This would reduce GDP growth deceleration and cash hoarding. Two, continued impetus to digitalisation while ensuring that this transition is gradual and inclusive, and appropriately balances the costs and benefits of cash versus digitalisation. Three, following up demonetisation by bringing land and real estate into the GST. Four, reducing tax rates and stamp duties.
This is an analysis and brief overview document on the Survey
The document discusses the following:
1) Indian markets performed well in May with the Nifty 50 index rising 3.4% and outperforming global markets. Mid and small cap indices fell but have outperformed so far in 2017.
2) Inflation continued to surprise on the downside, falling to 2.99% in April. Wholesale inflation also declined and core inflation is at a series low. Lower global commodity prices and a favorable base will likely keep inflation low.
3) The RBI's monetary policy was dovish in line with lower growth and inflation data. While rates were kept unchanged, the tone and forecasts signal potential future rate cuts to boost the economy.
The document provides an overview of global economic conditions and labor markets in Q3 2014. It discusses modest projected global growth, varying regional economic performances, and stable to positive labor market outlooks across most regions. Key points covered include ongoing challenges in emerging markets, the strengthening European recovery, steady US job growth and falling unemployment, and stable but slowing growth in China and Japan. The document also summarizes new temporary staffing regulations across several countries.
The Reserve Bank of India (RBI) governor cut the repo rate by 50 basis points (bps) to 6.75% on Tuesday.
The central bank also reduced the inflation forecast to around 4.8% by the end of financial year 2017. After RBI’s action, an immediate recovery in equity markets, which were down at least 1% from the morning. Markets shot into the positive territory—in just over 2 minutes after the announcement.
Bond markets rejoiced with yields on the 10-year benchmark government security moving to 7.57% from 7.73% within minutes.
Repo and reverse repo are tools used by the Reserve Bank of India to control money supply and liquidity in the country. In a repo transaction, banks borrow funds from RBI by selling government securities with an agreement to buy them back later. The reverse repo is the opposite, with RBI borrowing from banks. Repo rate is currently 7.25% while reverse repo is 1% lower at 6.25% to prevent risk-free arbitrage opportunities for banks. RBI uses adjustments to these rates to influence whether liquidity and money supply increases or decreases in order to control inflation.
This document is a dissertation report submitted by Sudheer Parashar to partially fulfill the requirements for a Master of Business Administration degree from Amity University. The report examines the impact of changes in the repo rate by the Reserve Bank of India on bank lending. It discusses how the repo rate affects borrowing costs for banks and how banks may pass these higher costs onto customers through increased lending rates and loan EMIs. The report also analyzes different segments of bank lending as well as factors that influence lending rates. It aims to determine the level of impact of repo rate changes on deposits and loans and provide investment strategy recommendations for the general public.
Repurchase agreements (repos) are short-term contracts for the sale and future repurchase of financial assets. In a repo, one party sells securities to another and agrees to repurchase them at a future date for a higher price. This allows the seller to borrow money while using the securities as collateral, and the buyer earns interest during the short-term holding period. While secured, repos still involve some credit and market risk if the counterparty defaults before the contract matures. They are an important money market instrument used by central banks, dealers, funds, and other large institutions.
The document discusses the Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR) requirements for banks in India. It notes that the RBI sets the minimum and maximum ratios for CRR (currently between 3-15%) and SLR (currently between 20-40%). It provides the current CRR and SLR rates, and explains how the ratios are calculated based on banks' net demand and time liabilities. It also discusses the impacts of increasing or decreasing these ratios, such as how a reduction in CRR or SLR increases banks' lending capacity.
The document discusses various monetary policy tools used by the Reserve Bank of India (RBI) and their impact on the Indian economy. It explains that RBI uses tools like the cash reserve ratio (CRR), statutory liquidity ratio (SLR), and repo rate to control money supply and fight inflation/deflation. Raising CRR or SLR reduces money available for bank lending, increases interest rates, and slows economic growth. Lowering them has the opposite effects. Similarly, raising the repo rate increases business loan costs, reduces spending and growth, while lowering repo rate stimulates growth. In conclusion, RBI periodically uses these tools to manage liquidity and influence economic activity across sectors and the nation as a whole.
The Reserve Bank of India is the central bank of India established in 1935. It regulates banking, manages currency and monetary policy in India. It acts as a bank for the government and regulates commercial banks. It issues currency, manages foreign exchange reserves, implements monetary policy tools like repo rate, CRR, and SLR to regulate inflation and control money supply. It also oversees functions like licensing banks, inspecting banks, and managing clearing houses.
The document discusses changes in repo and reverse repo rates in India over the past few years. It defines repo and reverse repo rates, and how the Reserve Bank of India uses them as tools to manage liquidity and influence interest rates. The document examines how repo and reverse repo rate changes impact inflation, credit availability, exchange rates, and interest rates. It provides data on movements in repo and reverse repo rates from 2008-2010 and the impact on inflation during that period. Measures taken by the IMF to standardize statistical treatment of reverse transactions are also summarized.
Repo rate is the rate at which banks borrow funds from the Reserve Bank of India (RBI) through repurchase agreements, while reverse repo rate is the rate at which RBI borrows funds from banks. RBI uses these rates to control money supply and liquidity in the banking system. Repo rate impacts interest rates charged by banks on loans, affecting common citizens. Repo rate is always higher than reverse repo rate to avoid arbitrage opportunities where banks could profit risk-free. RBI decides these rates to influence monetary policy.
The document provides an economic and market update for investors. It discusses positive macroeconomic data from India including rising industrial production and falling inflation. The budget focuses on infrastructure growth. Globally, the US and Europe are recovering while emerging markets are benefiting from foreign inflows. The document recommends remaining invested in equities and outlines positive views for several sectors like banking, energy, and automobiles. It provides a target of 29,300 for the Sensex by the end of the year based on earnings growth expectations.
The new government needs to
- The global investment climate became moderately positive in February, with the outlook on India improving considerably due to deteriorating fundamentals in other emerging markets.
restart the programme in a big way
- Quarterly company results surprised positively against the deteriorating macro scenario. It remains to be seen if this marks a turnaround or short-term improvements.
to meet its fiscal deficit targets and
- Going into March, equities may rally on expectations of a pro-reform government after elections. However, the market will be highly sensitive to the
The document provides an economic outlook and investment advice for investors. It discusses positive developments in the global and Indian economies that are supportive of equity markets. Key points:
- Global growth remains positive, supporting equity markets. The US recovery is strong and the Eurozone is improving.
- The Indian economy is showing signs of recovery, though growth remains below 5%. Inflation spiked but is expected to cool off.
- Elections are typically positive for Indian equities, with markets expecting improved governance. Opinion polls favor the opposition.
- The RBI kept interest rates unchanged despite high inflation, believing prices will fall. Rates may rise slightly in the first half but fall in the second half.
The document provides an economic update and outlook for India. It notes that India's GDP growth was 4.8% in the last quarter, slightly higher than the previous quarter's 4.7% but below the previous year's 6.2%. Industrial production growth slowed to 2% in April 2013. While inflation tapered to 4.7% due to fuel prices, food inflation increased to 7.64% due to higher vegetable prices. The RBI kept interest rates unchanged to address inflation risks and the current account deficit given the rupee's sharp depreciation from reversal of foreign institutional investment debt inflows on expectations of reduced US stimulus.
The document provides an economic update and outlook for India. It notes that India's GDP growth was 4.8% in the last quarter, slightly higher than the previous quarter's 4.7% but below the previous year's 6.2%. Industrial production growth slowed to 2% in April 2013. While inflation tapered to 4.7% due to fuel prices, food inflation increased to 7.64% due to higher vegetable prices. The RBI kept interest rates unchanged and will focus on inflation and the current account deficit over growth. Bank credit growth was lower and the rupee depreciated due to reversal of foreign institutional investment inflows.
From the Desk of the CEO.
The heat is on. While many of us have been vacationing in cooler climes, the Sensex has kept itself rather busy, gaining another 4% during the month of May. The upmove has come largely on the back of better-than-expected corporate results and expectations of a good monsoon. Markets are also taking cognisance of various indicators like improved auto sales, higher steel and cement offtake, public infrastructure spending, etc. which are positive signs of an imminent economic recovery.
Crude prices have silently crept up and are currently hovering at the $50 level, almost double from the January lows. So despite the adverse implications of higher crude prices on the Indian economy, there seems to be some positive correlation between crude prices and the equity markets. Though this pattern may not have always played out in the last few decades, the first few months of 2016 certainly seem to indicate so. The main reason for this is the significantly high weightage that the Energy sector has in indices the world over. When oil plummeted to sub-$30 levels, it seriously impacted the profitability of some of the world’s biggest corporations, not only causing their stock prices to fall sharply, but also impacting the broader markets in general. It also indicated a global recessionary trend, thus affecting investor sentiment and causing them to become nervous and risk-averse. The bounce back in crude has brought the price to a level that makes it profitable for companies to drill, creating a sense of well-being for both, the Energy sector as well as the countries whose economies are dependent solely on oil. Where crude prices go from here remains to be seen.
After several quarters of benign inflation, the WPI rose to 0.34% while retail inflation soared to 5.39% in April 2016. This, coupled with higher oil prices would make it difficult for Governor Rajan to announce a rate cut at the next RBI policy meeting on 7th June. Across the globe however, Janet Yellen’s comments on improving economic data in the US has the markets believing that a rate hike by the US Federal Reserve is a high possibility during its next meeting in mid-June. The outcome of Britain’s referendum on Brexit is also an event that we will be closely watching.
With markets factoring in all the good news for now, conventional logic says that short term investors need to be cautious. But when the stock market catches momentum, all negative predictions may be proven wrong.
There are of course, many more bulls than bears when it comes to a 1 year plus view. Long term investors may continue their investments and look to buy into any dips.
Wish all of you a happy monsoon season.
This document provides an economic update and outlook for India. It summarizes that India's GDP growth slowed to a 10-year low of 4.5% in the third quarter due to declines in agriculture, mining, and manufacturing. Inflation rates have been falling but remain elevated. The RBI recently cut interest rates and expects further monetary easing this fiscal year alongside reforms to revive investment and growth. Equity markets have performed well recently and earnings are expected to grow 12% this year led by private banks, healthcare and consumer companies. The outlook provides sector views, favoring healthcare, banking, and FMCG.
Despite a slowing global recovery, growth is projected to be 3.3% in 2014 and 3.8% in 2015. Advanced economies are expected to see faster growth led by the US, while the eurozone recovery remains weak. Emerging markets face more divergence, with steady growth in Asia but slower growth in Latin America, Russia, and the Middle East. Short-term risks include worsening geopolitical tensions and reversals in financial markets.
The document provides an economic update and outlook for India. It notes that India's GDP growth was estimated at 4.8% for the last quarter, slightly higher than the previous quarter's revised rate of 4.7% but still below 5%. Industrial production grew by only 1.0% for the full fiscal year. Inflation rates have fallen, with WPI hitting a 41-month low of 4.89% in April. The RBI recently cut interest rates, citing lower inflation and slowing growth. However, the economic growth outlook remains cautious as investment activity remains subdued.
After the uncertainty of the Brexit verdict got over, the market rallied in the last week. The market got off on the
wrong foot on the day of the Referendum results and corrected by almost 1000 points. But the market soon
realized that the renewal in trade agreement between UK and Euro is not going to happen anytime soon and it will
take around 1-2 years. India being an emerging nation, the impact of this event is quite limited. After this the
market resumed its upt uptrend. Since budget, the nifty is up by 1000 points, and in percentage terms it has gained
22%. We should remember that it is still 10% off of the it’s all time high, which was achieved in March 2015.
• Despite the fact that the PE multiple of the Indian Markets is 17 – 18 times, the FIIs continue to invest in India on
account of better growth prospects, better earning visibility. India is the only trillion dollar economy which is
growing on 7.5%, which makes it a lucrative long term story.
The document provides an overview and outlook of the Singapore residential property market in 2015. It finds that the market will likely remain weak in 2015, with private home prices expected to soften by 4-6% and HDB resale prices by 6-8%, due to three main factors: 1) the government is unlikely to ease property cooling measures as the market correction has not been significant enough; 2) there remains weak demand and massive upcoming supply, which could increase vacancy rates above 10%; and 3) the threat of rising interest rates from an expected US rate hike makes mortgages more expensive and lowers rental returns. The outlook paints a bleak picture for the residential market in 2015.
The document provides an overview of the global and domestic macroeconomic environment and financial markets for the week of May 25-30, 2015. Key points include:
- Quarterly earnings season broadly did not have surprises but margins improved in some sectors while revenue and profits remained subdued overall.
- GDP growth was 7.5% for the quarter but full year growth was revised down due agricultural numbers. The upcoming monsoon is important.
- The RBI is expected to cut rates by 25 basis points at its June 2nd meeting based on current consensus.
The document provides an overview of various financial markets and economic indicators from an investment advisory perspective. It discusses recent performance and outlook for domestic and global equities, bonds, commodities, real estate and other asset classes. Some key points are: domestic inflation slowed while wholesale prices contracted, Indian GDP growth was 7.3% for the year, concerns around a weak monsoon may impact inflation, global markets remain sensitive to developments in Europe and potential US rate hikes.
- Core inflation in India declined to 4.5% in June from 4.7% previously, which may support a 25 basis point rate cut by the RBI in August. Industrial growth also turned positive in April after contracting previously.
- Financial results from companies so far have been better than expected, though IT sector disappointed due to Brexit. Global markets are focused on upcoming earnings season in India.
- The Bank of England is expected to cut rates to a record low of 0.25% to cushion the UK economy from Brexit shock. China's land and wage growth slowed in the first half of 2016 due to overcapacity issues.
- Global equity markets saw sharp corrections in January led by a steep fall in crude oil prices. The Nifty breached 7500 support level touching a 52-week low.
- Third quarter Indian company results were mixed, with some benefiting from lower commodities while banks may need more time to recover.
- The budget will be a key upcoming event, with the government expected to focus on rural spending, manufacturing, and fiscal reforms.
Recent performance of the debt mutual funds and the way forwardDhuraivel Gunasekaran
Recent performance of debt mutual funds and the outlook:
1) Short-term debt funds have outperformed longer-term funds due to volatility in the bond market and rising short-term interest rates.
2) Various domestic and global factors like high inflation, current account deficit, US tapering, and economic slowdown have kept bond yields elevated.
3) Going forward, short-term yields are expected to remain around 9.5-10% while 10-year bond yields could trade between 8.4-9.1%, depending on the election outcome and other macroeconomic developments.
Introduction of GST in the Rajya Sabha has significance because it could have been passed in the Lok Sabha also. However, Rajya Sabha is where the government does not have majority and since it’s a constitutional amendment that requires two thirds majority, convincing all the parties is a key milestone and to that extent, introduction and subsequent passage of the bill in the Rajya Sabha will be important.
•Earnings Data for 8 core industries including mining, infrastructure and electricity was received which indicated a growth by 5.2% which augers well. However, one needs to see if this is a onetime occurrence or will it continue. Also, since rainfall was moderate, by the end of July, rural consumption is expected to be strong. To that extent, GDP is likely to grow anywhere between 7.5-8% this year. The government’s earlier projections in the budget carry an upward bias.
This document provides an overview and outlook across various sectors in the Indian economy and globally. It begins with a note from the CEO discussing current economic conditions and opportunities from innovation and disruption. Several sections then analyze domestic and global equity markets, debt markets, key economic indicators, and provide outlooks for various sectors in India and globally. The document aims to inform investors on current economic and market conditions.
- Global equity markets declined last week due to concerns over slowing global growth and tightening global liquidity. The World Bank lowered its global growth forecast for 2013.
- In Asia, Japanese markets fell on a stronger yen despite positive economic data. Chinese industrial production growth slowed slightly. Central banks in Indonesia, Korea, and Philippines kept rates unchanged.
- European markets pared losses but concerns over liquidity remained. UK and Eurozone industrial production rose. Turkey's economy expanded strongly. MSCI upgraded UAE and Qatar to emerging markets.
- US markets declined as retail sales rose but consumer sentiment fell. Brazil saw sharp declines and abolished an IOF tax to stabilize its currency. Several large M&A deals were
The document provides a market and economic outlook report for June 2013. It identifies several positive factors for the Indian markets in the coming months, including strong FII inflows due to quantitative easing by Japan and the US. GDP growth is seen to have bottomed out, and inflation is expected to continue declining. The report also notes that rate cuts are likely to continue and commodity prices are declining. Key projects are moving forward and the monsoon is on schedule. Reliance also reported a significant gas find.
The document provides a weekly summary of key economic indicators and financial market performance in India for the period of 1st-8th June 2018. Some of the key highlights included:
- The Indian equity market ended the week flat with the Sensex gaining 0.61% supported by expectations of a normal monsoon, rupee strengthening, and falling crude prices.
- Bond yields rose as RBI raised repo and reverse repo rates by 25 bps while maintaining a neutral liquidity stance, suggesting this may be the only rate hike this fiscal year.
- FII investments were positive at Rs. 1,164 crore while DII investments were higher at Rs. 2,470 crore for the week.
- The Indian equity market rose slightly over the week, aided by falling crude oil prices and recovery in the rupee. Volatility increased due to political issues in Italy and trade war fears. Telecom and oil & gas sectors saw gains while infrastructure, realty, and pharma declined.
- The 10-year Indian government bond yield increased sharply by 11 basis points to 7.84% due to higher than expected GDP growth and inflation numbers.
- Key economic indicators included 7.7% GDP growth in Q4, 4.58% CPI inflation in April, and 12.65% growth in credit in May. The RBI's monetary policy meeting on June 6th is expected to take a h
- The key Indian equity indices Sensex closed the week with marginal gains of 0.5% despite volatility in the market from events like US Fed rate hikes and the de-nuclearization of North Korea. Pharma stocks gained the most while metals and oil & gas dragged.
- Yields on the 10-year Indian government bond eased initially but rose later in the week due to higher inflation numbers. The RBI kept policy rates unchanged.
- Internationally, the US Federal Reserve raised interest rates as expected while China's industrial production growth slowed slightly. The Trump-Kim summit led to agreements on denuclearization.
The document provides an outlook on global debt markets in November 2016. It notes that global bond yields are rising rapidly as central banks move away from easy monetary policies. The US 10-year Treasury yield rose to a 5-month high near 1.87% on expectations of a December rate hike by the US Federal Reserve. German and UK bond yields also increased. Global bond markets experienced a significant selloff due to expectations of higher US rates and uncertainty around the ECB's bond purchase program.
The document provides an overview and outlook across various asset classes and sectors in India and globally. Some key points:
- Domestic equity markets have seen modest gains of around 8.5% year-to-date despite recent volatility due to political tensions. Bond yields have fallen in India on expectations of further rate cuts.
- Global central banks like the Fed and ECB appear less accommodative but the US economy remains resilient. Growth has slowed in Japan and parts of Europe.
- Automobiles, banks, FMCG and infrastructure sectors are expected to perform well in India, while cement may see a recovery. Select domestic sectors and stocks still appear attractive relative to other emerging markets.
- The document provides an economic and market summary for the week of November 14-18, 2016. It discusses developments in global markets, the Indian economy and stock market, and provides commentary on sectors and asset classes.
- Key points include the expectation of US Federal rate hikes in December, the impact of India's demonetization on various industries, and an outlook that Indian stock markets will see further declines in the short-term but provide buying opportunities. Debt markets are also seen as favorable due to expected interest rate cuts.
The document provides an analysis of recent events affecting global markets. It discusses two major events: 1) US presidential elections resulting in a victory for Donald Trump and 2) India's demonetization of Rs. 500 and Rs. 1000 currency notes. It summarizes the short-term negative impacts these events will have on certain sectors in India as well as longer-term positive impacts expected, especially in banking, infrastructure, and rate-sensitive sectors. Market indices are expected to remain cautious in the near-term but the analysis maintains a long-term bullish outlook for Indian markets.
The document summarizes recent news and developments in global markets and the Indian economy from October 31 - November 4, 2016. It discusses the impact of the FBI announcement regarding Hillary Clinton's emails on US and global markets. It also covers the upcoming US presidential election and its potential effects. Domestically, it discusses recent inflation data, bank earnings, and the progress of GST implementation in India. Globally, it mentions recent economic data and central bank decisions in the US, UK, Eurozone, and China.
The document provides an equity market outlook and analysis for the period of Diwali to Diwali (October 2016 to October 2017). It notes that large caps underperformed with returns of 5-6% last year while midcaps saw stronger returns of 19-20%. For the current year, it expects lower double digit returns for large caps and 15-20% returns for mid and small caps. It recommends focusing on sectors with good private demand like financials, automobiles, and consumer durables. Large caps are seen as providing stability but lower returns compared to midcaps where returns of 15% are expected over the next year for those with a higher risk appetite and 2-3 year investment horizon.
- Markets have shown a flattish trend for the past few weeks due to mixed global news and lack of interesting domestic news. Quarterly earnings will be a key focus.
- The US Fed minutes showed many members supported a rate hike while others wanted rates kept steady. Globally, some nations want softer rates while developed nations prefer harder rates.
- In India, quarterly earnings just began and will be important, with IT companies continuing to disappoint so far. Regional cement players may report better numbers than large caps with nationwide reach. Private banks are expected to report strong results.
- Last week, global equity markets declined sharply due to one bad trading day that rattled investors who had become complacent about continuously rising prices. However, market corrections of 6-8% are normal and investors should focus on investing in good quality stocks during declines rather than withdrawing.
- Concerns remain about instability in Europe's banking system, uncertainty around US interest rates after the election, and potential for Chinese currency devaluation. Wholesale inflation slowed in India while the government may increase public spending to spur growth.
- Key stock indices declined over the past week with the Sensex falling 1.46% while most sectors also ended lower with metals and power dropping the most.
- The monetary policy committee unanimously agreed to cut interest rates by 0.25 basis points, though some banks have passed on lower rates between 0.10-0.15%. Rate cuts are hoped to boost consumption.
- Early indicators show strong consumer durable and auto sales during the Ganpati and upcoming festivals, suggesting good consumption for the next few months.
- Earnings growth of 17-18% is expected this fiscal year, with most growth occurring in the third and fourth quarters.
- Upcoming global events like the US elections and potential interest rate hikes could increase volatility.
The document provides an overview of global and domestic markets and economic indicators for the week of September 5-9, 2016. Key points include:
- There was a global market correction on Friday due to falling bond prices, though this does not necessarily mean the dislocation in markets has been corrected.
- Indian consumer inflation is expected to have eased in August but may still be too high for an interest rate cut in September. Tax receipts rose robustly in August.
- Economic data from major economies like Germany, the US, and China suggests slowing growth, while long-term debt issuance in Europe may increase risks.
- Indian indices fell for the week while commodities like crude oil rose and the rupee
The document provides a weekly summary of domestic and global economic news from August 29th to September 2nd, 2016.
Domestically, Indian factory activity expanded at its fastest pace since mid-2015 in August. However, India's annual economic growth slowed to 7.1% in the second quarter, below expectations. Globally, British manufacturing rebounded in August after Brexit. US job growth slowed in August, likely putting off a Federal Reserve rate hike. China and the US committed to refrain from competitive currency devaluations. Major stock indices rose around 1-3% over the week.
This document provides an overview and outlook across various sectors in India and globally. It discusses domestic and global economic factors, equity and debt market performance, sector-specific views, and other relevant topics. Key points include a positive outlook for domestic consumption sectors due to the festive season, signs of recovery in the Indian manufacturing sector, and expectations that global central banks will continue accommodative monetary policies.
- The equity markets in India traded in a narrow range over the past week and are expected to remain range-bound in the coming weeks. Key economic data like GDP and core sector growth were in line with expectations.
- In the US, recent data points to continued moderate economic growth and makes the case for an interest rate hike in September. The impact of rate hikes is expected to be greater on developed markets than emerging markets like India.
- Macroeconomic indicators from China suggested efforts to reduce corporate financing costs and tax burdens to boost the economy, while the central bank took measures to inject liquidity into markets.
This document provides a weekly summary of economic, market, and other news from August 16-19, 2016. Some key points:
- India's CPI inflation rose above 6% in July, exceeding the central bank's tolerance limit and raising expectations of further rate hikes.
- Global government bond yields increased modestly, with the US 10-year yield rising to 1.6%, while oil prices fell on doubts that upcoming producer talks would reduce oversupply.
- Domestically, strong monsoon rains are expected to boost agricultural growth and the overall economy. Internationally, China's exports declined in 2016 and are projected to fall further due to economic pressures.
This document provides a weekly summary of global and domestic economic news and market performance for the week of August 8-12, 2016. Some key points:
- India's wholesale and consumer price inflation increased in July driven by higher food prices. Industrial production growth slowed in the Eurozone and China.
- US retail sales were flat in July and the budget deficit declined, while China's economic growth slowed with the weakest investment growth in over 15 years.
- The Indian stock market ended the week slightly lower, with the Sensex falling 0.11%. Most sectoral indices also declined over the week except for banking. Commodity prices were mixed with gold falling slightly while crude oil rose.
How are Lilac French Bulldogs Beauty Charming the World and Capturing Hearts....Lacey Max
“After being the most listed dog breed in the United States for 31
years in a row, the Labrador Retriever has dropped to second place
in the American Kennel Club's annual survey of the country's most
popular canines. The French Bulldog is the new top dog in the
United States as of 2022. The stylish puppy has ascended the
rankings in rapid time despite having health concerns and limited
color choices.”
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
Brian Fitzsimmons on the Business Strategy and Content Flywheel of Barstool S...Neil Horowitz
On episode 272 of the Digital and Social Media Sports Podcast, Neil chatted with Brian Fitzsimmons, Director of Licensing and Business Development for Barstool Sports.
What follows is a collection of snippets from the podcast. To hear the full interview and more, check out the podcast on all podcast platforms and at www.dsmsports.net
𝐔𝐧𝐯𝐞𝐢𝐥 𝐭𝐡𝐞 𝐅𝐮𝐭𝐮𝐫𝐞 𝐨𝐟 𝐄𝐧𝐞𝐫𝐠𝐲 𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐜𝐲 𝐰𝐢𝐭𝐡 𝐍𝐄𝐖𝐍𝐓𝐈𝐃𝐄’𝐬 𝐋𝐚𝐭𝐞𝐬𝐭 𝐎𝐟𝐟𝐞𝐫𝐢𝐧𝐠𝐬
Explore the details in our newly released product manual, which showcases NEWNTIDE's advanced heat pump technologies. Delve into our energy-efficient and eco-friendly solutions tailored for diverse global markets.
The Genesis of BriansClub.cm Famous Dark WEb PlatformSabaaSudozai
BriansClub.cm, a famous platform on the dark web, has become one of the most infamous carding marketplaces, specializing in the sale of stolen credit card data.
Navigating the world of forex trading can be challenging, especially for beginners. To help you make an informed decision, we have comprehensively compared the best forex brokers in India for 2024. This article, reviewed by Top Forex Brokers Review, will cover featured award winners, the best forex brokers, featured offers, the best copy trading platforms, the best forex brokers for beginners, the best MetaTrader brokers, and recently updated reviews. We will focus on FP Markets, Black Bull, EightCap, IC Markets, and Octa.
HOW TO START UP A COMPANY A STEP-BY-STEP GUIDE.pdf46adnanshahzad
How to Start Up a Company: A Step-by-Step Guide Starting a company is an exciting adventure that combines creativity, strategy, and hard work. It can seem overwhelming at first, but with the right guidance, anyone can transform a great idea into a successful business. Let's dive into how to start up a company, from the initial spark of an idea to securing funding and launching your startup.
Introduction
Have you ever dreamed of turning your innovative idea into a thriving business? Starting a company involves numerous steps and decisions, but don't worry—we're here to help. Whether you're exploring how to start a startup company or wondering how to start up a small business, this guide will walk you through the process, step by step.
Industrial Tech SW: Category Renewal and CreationChristian Dahlen
Every industrial revolution has created a new set of categories and a new set of players.
Multiple new technologies have emerged, but Samsara and C3.ai are only two companies which have gone public so far.
Manufacturing startups constitute the largest pipeline share of unicorns and IPO candidates in the SF Bay Area, and software startups dominate in Germany.
Best Competitive Marble Pricing in Dubai - ☎ 9928909666Stone Art Hub
Stone Art Hub offers the best competitive Marble Pricing in Dubai, ensuring affordability without compromising quality. With a wide range of exquisite marble options to choose from, you can enhance your spaces with elegance and sophistication. For inquiries or orders, contact us at ☎ 9928909666. Experience luxury at unbeatable prices.
Top mailing list providers in the USA.pptxJeremyPeirce1
Discover the top mailing list providers in the USA, offering targeted lists, segmentation, and analytics to optimize your marketing campaigns and drive engagement.
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...APCO
The Radar reflects input from APCO’s teams located around the world. It distils a host of interconnected events and trends into insights to inform operational and strategic decisions. Issues covered in this edition include:
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This PowerPoint compilation offers a comprehensive overview of 20 leading innovation management frameworks and methodologies, selected for their broad applicability across various industries and organizational contexts. These frameworks are valuable resources for a wide range of users, including business professionals, educators, and consultants.
Each framework is presented with visually engaging diagrams and templates, ensuring the content is both informative and appealing. While this compilation is thorough, please note that the slides are intended as supplementary resources and may not be sufficient for standalone instructional purposes.
This compilation is ideal for anyone looking to enhance their understanding of innovation management and drive meaningful change within their organization. Whether you aim to improve product development processes, enhance customer experiences, or drive digital transformation, these frameworks offer valuable insights and tools to help you achieve your goals.
INCLUDED FRAMEWORKS/MODELS:
1. Stanford’s Design Thinking
2. IDEO’s Human-Centered Design
3. Strategyzer’s Business Model Innovation
4. Lean Startup Methodology
5. Agile Innovation Framework
6. Doblin’s Ten Types of Innovation
7. McKinsey’s Three Horizons of Growth
8. Customer Journey Map
9. Christensen’s Disruptive Innovation Theory
10. Blue Ocean Strategy
11. Strategyn’s Jobs-To-Be-Done (JTBD) Framework with Job Map
12. Design Sprint Framework
13. The Double Diamond
14. Lean Six Sigma DMAIC
15. TRIZ Problem-Solving Framework
16. Edward de Bono’s Six Thinking Hats
17. Stage-Gate Model
18. Toyota’s Six Steps of Kaizen
19. Microsoft’s Digital Transformation Framework
20. Design for Six Sigma (DFSS)
To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations
Part 2 Deep Dive: Navigating the 2024 Slowdownjeffkluth1
Introduction
The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
2. Economic Update 4
Equity Outlook 8
Debt Outlook 13
Forex 15
Real Estate Outlook 16
Index Page No.
Contents
2
3. From the Desk of the CIO
“Advisory services are provided through Karvy Capital having SEBI Registration No: INP000001512. Investments are subject to market risks. Please read the disclaimer on slide 18”
Dear Investors,
If May marked the beginning of what most experts called a secular bull
run, June was a month of the reality check that there are no one-way
streets. The enthusiasm about the new government continued through
the month. However, several concerns emerged on domestic and global
fronts. On the balance, the diagnostic is still positive. In the short term
though, several challenges remain.
Weak monsoon was widely expected. Actual rainfall (or the lack of it) in
June partially confirmed the expectation. July to September might have
their own deviations from average. It would be foolhardy to predict if
the overall monsoon will be well below the long term average or at par
with it. Nevertheless, the government seems to have got into action to
target food price stability in case the monsoon shortfall turns out to be
indeed significant. We will have to wait and watch how the food prices
react to the expectation of weak monsoon (as of now) and the actual
outcome (by September) and the initiatives of the government. What is
likely though is that RBI will not alter its present stance of caution on
monetary policy. Lower interest rates will have to wait for later – maybe
early 2015.
The progress on governance itself has been encouraging. While it is too
early to judge, the intent and activity level both paint a positive picture.
Some tough decisions on railway fare and fuel prices have been a good
sign. A lot of perception hinges on the Union Budget to be presented on
the 10th of July. However, this might not be necessarily a big-bang
reform budget – albeit a few major reforms may be announced.
Contrary to popular belief, the budgetary exercise does not in itself
require major reforms announcements to be a part of it. Budget is
simply an exercise of drawing up the overall income and expense
account of the government. Some policy measures are definitely a part
of this exercise. However, a lot of potential reforms have only limited
implications for immediate budgetary matters (for instance, labor
market reforms). Such reforms are probably best done through the
normal course of policy making.
Globally, the flare-up in Iraq with the potential disintegration of that
state and establishment of the Caliphate driven by ISIS has long term
implications for oil prices (and of course the geopolitics of the Middle
East!). Iraq is the second largest producer of crude oil after Saudi Arabia.
While majority of its oil is still in the southern (government-controlled)
parts of Iraq, one major oil-well is in northern Iraq. Also while the Iraqi
government of Nuri-Al-Maliki might continue to control the southern oil
producing region, it would constantly face the concerns of terrorism and
sabotage by ISIS. The only factor controlling the oil price for now despite
such worries is the increasing production of shale oil by US. In the recent
years the increase in US shale oil production has nearly balanced out the
entire disruption on account of Libyan civil war, Syrian civil war and the
turmoil in Iraq. Hopefully this would continue and thus limit oil price
spikes in the short term. The long term prognosis for crude oil however
is one of secular increase in prices – pace of increase being the only
relevant variable.
The volatility in crude oil has brought some interest back in gold. We still
do not think it is a good idea to increase allocation to gold – especially
since the rupee price of gold varies far more than the dollar price. We
believe that the better diversification for Indian investors is dollar
denominated growth assets such as developed market equities. In times
of moderate turbulence these tend to have the dual benefit of lower
falls than emerging market equities and some benefits from Rupee
depreciation common to these periods.
3
5. US
Europe
Japan
Emerging
economies
• US Federal Reserve reduced its monthly bond buying program from $45 bn to $35 bn starting in July.
• Initial jobless claims for US state unemployment benefits rose by 4,000 to 317,000 in the week ended
June 7.
• IMF cuts US growth outlook for 2014 to 2% from the 2.8% it predicted in April, due to a weak first
quarter.
Economy Update - Global
• Japan’s unemployment rate hit a 16 year low in May, suggesting that the economy is rebounding. The
jobless rate in the world’s third largest economy fell to 3.5% , the lowest since 1997.
• Japan’s core machine orders spiked 17.6% in April on a yearly basis after surging 16.1% in the previous
month.
• World Bank projects a 5.5% growth for India in 2014-15, 6.3% in 2015-16 and 6.6% in 2016-17.
• China's average home prices fell 0.2% in May for the first time in two years and price weakness spread
to more major cities, adding to signs of cooling in the property market.
• Government clears seven big-ticket investment projects worth Rs 21000 Cr.
5
• Annual inflation in the Euro zone fell to 0.5% in May from 0.7% in April.
• UK’s retail sales dropped 0.5% in May compared to a downwardly revised gain of 1% in April .
• Euro zone industrial production increased by 1.4% on an annualized basis in April after growing by an
upwardly revised 0.2% in March.
6. Economy Outlook - Domestic
• Q4FY14 GDP grew at 4.6% Y-o-Y as against 4.7% in the previous
quarter. As per data released by Central Statistics Office ( CSO )
the economy grew at the rate of 4.7% in 2013-2014, slightly above
the 4.5% growth registered in the previous year.
• Growth in 2013-14 was helped by a smart rebound in the farm
sector which grew at an annual 4.7% compared to 4.5% growth
registered in a year earlier period. Electricity sector also grew at a
healthy rate of 5.9% in 13-14 as against 2.3% in 12-13.
• This is the second consecutive year in which the economy has
grown at a sub 5% level, primarily hurt by policy delays, high
inflation and global slowdown.
• April ’14 IIP came in at a good 3.4% after registering a negative
growth for two consecutive months. The rebound in the numbers
was led by Manufacturing sector which grew by 2.6% the best
figure since July ‘13.
• Electricity grew nearly 12% on back of higher production and
mining kept it’s head above water at 1.2% versus a contraction of
3.4% in April ‘13. Capital Goods did well with a 15% growth against
a contraction of 0.3% in April ’13.
• The return of industrial growth to positive terrain is noteworthy
and has rekindled the hope of industrial recovery which is critical to
lift the economy.
IIP
6
-4.0%
-2.0%
0.0%
2.0%
4.0%
Apr
13
May
13
Jun
13
Jul
13
Aug
13
Sep
13
Oct
13
Nov
13
Dec
13
Jan
14
Feb
14
Mar
14
Apr
14
5.3
5.5
5.3
4.5
4.8
4.4
4.8 4.7 4.6
4.0
4.2
4.4
4.6
4.8
5.0
5.2
5.4
5.6 GDP Growth
7. Economic Outlook - Domestic
As on May 2014 Bank credits grew by 13.8% on a Y-o-Y basis.
Aggregate deposits on a Y-o-Y basis grew at 15.3%, vis-a-vis 14%
in April 2014.
RBI met on 3rd June for it’s second bi-monthly policy review and
based on assessment of current and evolving macro economic
situation decided to keep the repo rate and CRR unchanged at
8% and 4% respectively. It decided to reduce the Statutory
Liquidity Ratio(SLR) by 50 bps from 23% to 22.5% , the RBI will
also reduce the liquidity provided under export credit finance
facility from 50% to 32% with immediate effect.
The Reserve Bank Governor also said that “the Central Bank is
committed to keeping the economy on a disinflationary course
and if the economy stays the course further policy tightening
will not be warranted.”
Inflation as measured by WPI for May ’14 came in at 6.01%- a 4
month high after witnessing easing since Dec’13 and touching a
9 month low of 4.68% in Feb’14. The main reason for the spurt
in inflation was food inflation which grew to 9.50% in May ‘14
as compared to 8.64% in the previous month. Prices of fruits
also saw a sharp increase from 16.46% in April ‘14 to 19.40% in
May ‘14.
Inflation in Fuel and Power rose to 10.53% in May ‘14 from
8.93% a month earlier, manufacturing grew by a modest 3.55%
in May ‘14 against 3.15% in the month ago period.
Headline CPI for May ’14 came in at 8.28% as against 8.60% in
Apr ’14. The spike came in due to food articles like fruits,
vegetables, sugar and pulses.
Growth in credit & deposits of SCBs
* End of period figures
7
8.0%
10.0%
12.0%
14.0%
16.0%
18.0%
20.0% Bank Credit Aggregate Deposits
4.00%
6.00%
8.00%
10.00%
12.00%
WPI CPI
8. Equity Outlook
As a strong reform oriented government takes shape in New Delhi, Indian equity markets have continued to rally post the
election outcome. Markets have rallied almost 40% from the lows in August 2013.
Despite so many negatives plaguing the economy, corrective measures by the new government can quickly revive growth.
8
15000
20000
25000
30000
BSE SENSEX one year Returns
9. Equity Outlook
9
Reforms Agenda
There are a number of measures that we expect the new government to take in 2014 to accelerate the economy – Goods
and Services Tax, Direct cash transfer of subsidies and boost to manufacturing sector.
Revival of large stalled projects will give a boost to capital formation activity and restart the investment cycle. We expect that
the new government will identify some large infrastructure projects and concerted push will be given to drive them to
completion. Dedicated Freight corridor between Mumbai and Delhi is one such project.
Environmental clearances, a big road-block for large projects, to be IT enabled thereby cutting lead times and expediting
infrastructure creation.
Several financial sector reforms are expected which will give a boost to financial savings paving the way for larger domestic
participation in equity markets.
The Budget could see some announcements on excise duty realignments for consumer staples and durables space to boost
short term demand.
Monetary Policy
RBI Governor surprised the market by cutting SLR by 50 bps in the last policy statement. Despite the inflation data getting
comfortable, RBI has decided to hold rates at current levels. Governor believes and we agree that it is important to break the
back of inflation to ensure a sustainable growth trajectory.
The emphasis on core CPI as an inflation metric as compared to WPI is expected to continue. We expect CPI to average
around 8% level for next few months thus ruling out any monetary easing in the first half. However, core CPI should moderate
to 6% which is within the tolerance limit of RBI.
The second half of the year should see interest rates coming off which would be beneficial to interest rate sensitive sectors
like banking, automobiles and infrastructure.
10. Equity Outlook
10
Global Macro Outlook
Continued recovery in US & a stable Euro area are significant positives for Indian equity markets. Global growth outlook
remains supportive of equity investments.
US economy shrank at an annual rate of 1% during the first quarter due to a very harsh winter in some of the more populous
states. However, this de growth was largely due to run downs in inventory levels. We would expect consumer spending to
revive in the next few quarters.
European Central Bank has carried out a fresh monetary stimulus by bringing deposit rates into negative territory. This will
help stabilize European economy.
Japan is showing clear signs of coming out of a five year deflationary trend. Fresh monetary stimulus and labor reforms will
make the recovery stronger.
The revival in global risk appetite has resulted in fresh FII inflows into emerging market equities with India turning out to be a
big beneficiary. India has been one of the top performing equity markets since the middle of September with fresh equity
inflows of 16 billion dollars.
Market View
Corporate earnings growth has started to recover since the last quarter. Sensex earnings growth has improved from 5% in
FY13 to about 10% in FY14 on the back of INR depreciation, for FY15, we would expect a Sensex EPS growth around of 15%.
We would expect earnings growth to accelerate once investment activity is revived and average at 25% for the next six years.
We arrive at a year end Sensex target of 29,300 based on 15 times FY16 earnings, we continue to maintain a 2020 target of
100,000 on Sensex.
11. Sector Stance Remarks
BFSI Overweight
Private sector banks and NBFC’s are expected to deliver healthy earnings growth. We expect public
sector to significantly outperform due to cheap valuations and stabilization in asset quality.
Energy Overweight
With the ongoing price deregulation of diesel, we believe the total subsidy burden on Oil PSU’s
will come down during the course of the year. Rupee appreciation will also help.
E&C Overweight
The significant slowdown in order inflow activity will reverse in the next few quarters. We see a
new infrastructure cycle taking shape this year.
Automobiles Overweight
We are positive on SUV’s and agricultural vehicles segment due to lesser competition and higher
pricing power. Two wheeler and four wheeler sales are also showing signs of upturn.
Power Utilities Neutral
We like the regulated return characteristic of this space. This space provides steady growth in
earnings and decent return on capital.
Sector View
11
12. Sector Stance Remarks
Healthcare Neutral
We believe in the large sized opportunity presented by Pharma sector in India. India’s strength in
generics is difficult to replicate due to quality and quantity of available skilled manpower. With the
developed world keen to cut healthcare costs, and a vast pipeline of drugs going off-patent, Indian
pharma players are at the cusp of rapid growth.
FMCG Neutral
We like the secular consumption theme. We prefer discretionary consumption beneficiaries such as
cigarettes, durables and branded garments, as the growth in this segment will be disproportionately
higher vis-à-vis the increase in disposable incomes.
IT/ITES Neutral
Demand seems to be coming back in US. North American volume growth has also remained
resilient. With significant rupee depreciation in the last few months, margins will get a boost.
Telecom Underweight
While regulatory hurdles seem to be reducing, recent aggressive bidding for spectrum has revived
fears of unhealthy competition. Emergent competition from the social media space also present a
formidable challenge.
Metals Underweight
Steel companies will benefit because of rupee depreciation. However, commodity demand stays
low globally due to low capex activity.
Cement Underweight
Cement industry is facing over capacity issues and lack luster demand. With regulator taking a
strong view against pricing discipline, the profits of the sector are expected to stay muted.
Sector View
12
13. Debt Outlook
•The yields on 10 Yr G sec closed at 8.70% which is 4 bps higher than the last months close of 8.66%.
• The RBI infused Rs 61,000 Cr into the banking system through a 14 day term repo auction to prop up
liquidity.
•RBI announced the cut-off price of 91-Days Treasury Bills at Rs. 97.91 (YTM - 8.5619%). The entire
auction was fully subscribed.
•The spread on the 10 year AAA rated corporate bond decreased to 27 bps on 25th June, 2014 from 63 bps (as
on 26th May, 2014).
10-yr G-sec yield
Yield curve
(%)
(%)
13
7.60
7.80
8.00
8.20
8.40
8.60
8.80
9.00
0.0
0.8
1.6
2.4
3.2
4.0
4.9
5.7
6.5
7.3
8.1
8.9
9.7
10.5
11.3
12.1
12.9
13.7
14.5
15.3
16.1
16.9
17.7
18.5
19.4
6.8000
7.3000
7.8000
8.3000
8.8000
9.3000
14. Debt Strategy
OutlookCategory Details
Long Tenure
Debt
Our recommendations regarding long term debt is neither buy nor sell for now. And
after the volatility settles Investors could look to add to dynamic and medium to long
term income funds over the next few months. Long term debt is likely to see capital
appreciation owing to the expected monetary easing. There is lesser probability of rate
cuts in the near future and there could be a lot of volatility in the g-sec yields as well.
An important point to note is that as commodity prices are cooling down, current
account deficit may reduce to some extent. But all this is coupled with uncertainty. We
suggest matching risk appetite and investment horizon to fund selection. Hence we
recommend that if investing for a period of 2 years or above then long term can be
looked upon or else holding/profit booking could be a good idea. Investors who may
want to stay invested for the medium term (exiting when prices appreciate) and those
who would want to lock in high yields for the longer term can also invest in longer
tenure papers/Funds.
Some AA and select A rated securities are very attractive at the current yields. A
similar trend can be seen in the Fixed Deposits also. Tight liquidity in the system has
also contributed to widening of the spreads making entry at current levels attractive.
With RBI maintaining status quo on key interest rates in the economy we would
suggest to invest in and hold on to current investments in short term debt. Due to
liquidity pressures increasing in the market as RBI has a huge borrowing plan in the
first half of the new fiscal, short term yields would remain higher. Short Term funds
still have high YTMs (9.5%–10%) providing interesting investment opportunities.
Short Tenure
Debt
Credit
14
15. Forex
• The Indian Rupee depreciated against all the four major currencies in
the last month. It saw a depreciation of 2.61% against GBP,2.02%
against USD, 1.99% against Japanese Yen and 1.76% against the EURO.
• The currency depreciated on account of dollar demand by state run
banks on behalf of importers, mainly oil importers. Further, weak
domestic market sentiments exerted downside pressure on the
currency.
• Additionally, uncertainty over Iraq turmoil continued the downside
movement in the currency, however, sharp downside in the currency
was prevented due to inflow of foreign funds in equities and debt
markets. Foreign inflows stood around $2.3 billion in equities and $2.9
billion in debt for the month of June and total inflows for the current
year at $9.9 billion and $10.5 billion respectively.
Rupee movement vis-à-vis other currencies (M-o-M) Trade balance and export-import data
• The projected capital account balance for Q3 FY 13 is projected at
Rs. 171984 crores along with the Q1 and Q2 being at 88013 Cr
and 130409 Cr respectively.
• We expect factors such as higher interest rates to attract more
investments to India. Increased limits for investment by FIIs
would also help in bringing in more funds though uncertainty in
the global markets could prove to be a dampener.
15
Exports during May,2014were valued at US $ 27.99 bn which was
12.40% higher than the level of US $24.91 bn during May, 2013.
Imports during May,2014 were valued at US $ 39.23 bn
representing a negative growth of 11.41% over the level of imports
valued at US $ 44.28bn in May, 2013 translating into a trade deficit
of $11.24 bn.
-10000
40000
90000
140000
FY 11 (Q2) FY 11 (Q3) FY 11 (Q4) FY 12 (Q1) FY 12 (Q2) FY 12 (Q3) FY 12 (Q4) FY 13 (Q1)
FY14(Q2)
-2.02%
-2.61%
-1.76%
-1.99%
-3.00%
-2.50%
-2.00%
-1.50%
-1.00%
-0.50%
0.00%
USD GBP EURO YEN
-25000
-20000
-15000
-10000
-5000
0
-20
-15
-10
-5
0
5
10
15
20
Export(%) Import Trade Balance (mn $)
16. 16
Real Estate Outlook
Asset Classes Tier I Tier II
Residential
Sales in the last quarter were slow. Investors and end-users were
postponing the purchase decision at the backdrop of the impending
General elections as well as state level elections in some markets. With
a single party gaining majority at the Centre and the consequent
political stability, apartment sales could be expected to pick up over
the next few quarters.
Developers too have been facing delay in getting approvals on account
of elections. Again, with the new political stability, it is expected that
procuring approvals will be relatively faster and most markets may
witness a lot of new launches.
Mid-income residential segment with Rs. 4,000 – 6,000 per sq. ft.
entry pricing with good developers in Pune, Bangalore, NCR and
Mumbai suburbs can be expected to continue generating good
percentage returns with relatively lower risk.
Demand in Tier II cities is largely driven by the trend
towards nuclear families, increasing disposable
income, rising aspiration to own quality products and
the growth in infrastructure facilities in these cities.
Price appreciation is more concentrated to specific
micro-markets in these cities. Cities like Chandigarh,
Jaipur, Lucknow, Ahmedabad, Bhopal, Nagpur, Patna
and Cochin are expected to perform well.
Commercial/IT
Currently, the over-supply in commercial asset class still continues,
thereby dampening the capital values. While rentals have been seen
increasing at a slow pace over the last couple of months, they still
remain lower than the peal values achieved in the past.
However, companies across industries such as IT, consultancy and e-
commerce could begin leasing and buying office space in expectations
of an economic boom under a stable central government.
Specific pre-leased properties with good tenant profile and larger lock-
in periods continue to be good investment opportunities over a long-
term horizon.
Lease rentals as well as capital values continue to be
stable at their current levels in the commercial asset
class. Low unit sizes have played an important role in
maintaining the absorption levels in these markets.
17. Asset Classes Tier I Tier II
Retail
Capital values as well as lease rentals continue to be stagnant.
The effects of the change in FDI policy to allow 100% in single-
brand retail are yet to have any effect of the market for retails
assets. Developers continue to defer the construction costs as
absorption continues to be low unsold , inventory levels high.
Tier II cities see a preference of hi-street retail as compared to
mall space in Tier I cities. While not much data on these rentals
gets reported, these are expected to have been stagnant.
The mall culture has repeatedly failed in the past in the Tier-2
cities. Whether the FDI in retail can change this phenomenon
can be known with more certainty once the effect of FDI is more
visible in Tier I cities.
Land
Agricultural / non-agricultural lands with connectivity to Tier I
cities and in proximity to upcoming industrial and other
infrastructure developments present good investment
opportunities. Caution should however be exercised due to the
complexities typically involved in land investments.
Land in Tier II and III cities along upcoming / established growth
corridors have seen good percentage appreciation due to low
investment base in such areas.
Real Estate Outlook
17
Please Note:
Tier I* markets include Mumbai, Delhi & NCR, Bangalore, Pune, Chennai, Hyderabad and Kolkatta
Tier II* markets includes all state capitals other than the Tier I markets
18. Disclaimer
The information and views presented here are prepared by Karvy Capital Ltd. The information contained herein is based on our analysis and upon
sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information
and we are not responsible for any loss incurred based upon it. This document is solely for the personal information of the recipient, and must not be
singularly used as the basis of any investment decision. Nothing in this document should be construed as investment or financial advice. The
investments discussed or recommended here may not be suitable for all investors. Investors must make their own investment decisions based on their
specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information
or analysis mentioned here, investors may please note that neither Karvy Capital Ltd nor any person connected with any associated companies of Karvy
Capital Ltd accepts any liability arising from the use of this information and views mentioned here. Each recipient of this document should make such
investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the companies referred to in this
document (including the merits and risks involved), and should consult their own advisors to determine the merits and risks of such an investment.
Karvy Capital Ltd, its affiliates, directors, its proprietary trading and investment businesses (hereinafter referred to as Karvy) may, from time to time,
make investment decisions that are inconsistent with or contradictory to the recommendations expressed herein. The views contained in this
document are those of the analyst, and the company may or may not subscribe to all the views expressed within. Reports based on technical and
derivative analysis center on studying charts of a stock's price movement, outstanding positions and trading volume, as opposed to focusing on a
company's fundamentals and, as such, may not match with a report on a company's fundamentals. The information in this document has been printed
on the basis of publicly available information, internal data and other reliable sources believed to be true, but we do not represent that it is accurate or
complete and it should not be relied on as such, as this document is for general guidance only.
The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above-mentioned assets from time to time.
Every employee of Karvy and its associated companies are required to disclose their individual stock holdings and details of trades, if any, that they
undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities
till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place
orders only through Karvy Stock Broking Ltd and Karvy Comtrade Ltd.
Any information given in this document on tax are for guidance only, and should not be construed as tax advice. Investors are advised to consult their
respective tax advisers to understand the specific tax incidence applicable to them. We also expect significant changes in the tax laws once the new
Direct Tax Code is in force – this could change the applicability and incidence of tax on equity investments.
Karvy Capital Ltd Operates from within India and is subject to Indian regulations.
Mumbai office Address: 702, Hallmark Business plaza, Sant Dnyaneshwar Marg, Bandra (East), off Bandra Kurla Complex, Mumbai 400 051
18