LIVE MARKET TRACKER :   BSE SENSEX   33227.99      |    NSE NIFTY 10240.15    
GLOBAL MARKETS :  NASDAQ      |    FSI London      |    NIKKEI Japan  
  USD GBP EUR CAD AUD INR
USD -
GBP -
EUR -
CAD -
AUD -
INR -
Indian-Commodity  :  Top News  :  India's GVA to slow down to 6.3% in Q1FY18: ICRA

India's GVA to slow down to 6.3% in Q1FY18: ICRA (23-Aug-2017)

With disruption in production schedules and discounts offered ahead of the implementation of the goods and services tax (GST) regime, rating agency ICRA in its latest report has estimated that India's gross value added (GVA) growth likely to slow down to 6.3% in April-June quarter (Q1) of fiscal year 2017-18 from 7.6% in the same period of pervious year, however it also added that it is improving in sequential quarters, relative to the initial estimate of 5.6% for the Q4 FY17. It noted that there is also the impact of appreciation of the rupee relative to the dollar on export earnings.

As per the report, the growth of the GVA at basic prices, excluding agriculture, forestry and fishing, public administration, defence and other services, is likely to be at 4.8% in Q1, in line with the modest 4.8% rise in gross corporate income tax collections. The report stated that specific issues related to sectors such as banking and telecom are likely to weigh upon the GVA growth in Q1 FY18, offsetting the impact of the up-fronting of the government's expenditure and a healthy rabi harvest of several crops.

The rating agency also expects gross domestic product (GDP) to rise by 6.1% in year-on-year terms in the first quarter, lower than the GVA expansion, led by an anticipated slowdown in growth of taxes on products less subsidies on products. Besides, Industrial growth is expected to slow to a modest 3.9% in the quarter from the healthy 7.4% in the year-ago period, led by manufacturing, electricity, gas, water supply and other utility services and construction.

ICRA expects the services sector growth to ease to 8.2% in the period from 9% in Q1 FY17, led by the weak trend in earnings, displayed by two of the key sub-sectors, namely banks and telecom, as well as the sluggish momentum recorded by non-food bank credit, commercial paper. It further said while the average CPI inflation eased to 2.2% in Q1FY18 from 5.7% in Q1FY17, the average WPI inflation posted a turnaround to (+) 2.3% from (-) 0.7%, which is likely to affect the deflators for various sectors.


Top News Today
Alembic Pharma gets USFDA's nod for Darifenacin Extended Tablets
(12-Dec-2017)

Alembic Pharma gets USFDAAlembic Pharmaceuticals has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Darifenacin Extended-Release Tablets, 7.5 mg and 15......click on news to read complete article.

Bajaj Hindusthan Sugar planning to issue OCDs worth Rs 3483.25 crore
(12-Dec-2017)

Bajaj Hindusthan Sugar planning to issue OCDs worth Rs 3483.25 croreBajaj Hindusthan Sugar is planning to issue Optionally Convertible Debentures (OCDs) aggregating to Rs 3483.25 crore to the Lenders of the Company upon conversion of Part - B (Unsustainable portion) of......click on news to read complete article.

Cholamandalam Invetsment planning to issue masala bonds
(12-Dec-2017)

Cholamandalam Invetsment planning to issue masala bondsCholamandalam Investment and Finance Company is planning to issue masala bonds in the nature of non-convertible debentures on a private placement basis. The meeting of the Board of Directors of the Company......click on news to read complete article.

International Stock News
US markets closed higher on Monday
(12-Dec-2017)

US markets closed higher on MondayThe US markets closed higher on Monday, with the S&P 500 index and Dow industrials closing at records on the back of a rally in telecommunications and technology shares. Wall Street shrugged off......click on news to read complete article.

Asian markets trade higher in early deals on Monday
(11-Dec-2017)

Asian markets trade higher in early deals on MondayAsian equity benchmark indices are trading higher in the early deals on Monday, lifted by encouraging employment data from the US that took the Standard & Poor's 500 Index to its third straight......click on news to read complete article.

US markets end at record highs on upbeat jobs data
(09-Dec-2017)

US markets end at record highs on upbeat jobs dataThe US markets traded with traction and ended near record high levels on Friday, as traders reacted positively to the closely watched monthly jobs report. The continued advance by stocks came following......click on news to read complete article.

 

     
  
Recent Top News News
 
EquityInvestmentCompany ReportsIPO
Disclaimer
By clicking on this page you accept all the terms and conditions framed by us. News made available here are for informational purpose only. While utmost care has been taken in providing the same. We claim no responsibility for its accuracy. Readers of this blog who make their decision based on the information posted here are solely responsible for their actions.