Sudip Bandyopadhyay, IndiTrade Capital says there may be some good reasons why RBI decided not to cut rates this time around. "There is a lingering worry about the economy and earnings picking up," says he. Edited excerpts from an interview with ETNow:- ET Now: What are the triggers that are putting so much pressure on the overall market sentiment? Sudip Bandyopadhyay: There are few things which you have to keep in mind. One, the US-China trade deal which was assumed to have been done is not there on the table yet and there are a lot of uncertainties and that is creating a little bit of nervousness amongst the global investors. So, there is a bit of risk-off mood as far as global investors are concerned and they are definitely taking some money off the table. While European markets and US markets may not be yet showing the signs but as far as emerging markets are concerned, they are the first ones to get affected when the risk-off mood sets in. The second is a domestic factor -- … [Read more...] about Bet on YES Bank for 20-25% upside in a month: Sudip Bandyopadhyay
Bank of china central
High-speed rail to link prefectural level cities
The construction of intercity high-speed rail systems, which are expected over time to cover all prefecture-level cities, is picking up steam in quite a few provinces across China, and experts said the system will help boost rural-urban integration. According to local railway authorities, the Guangxi Zhuang autonomous region and Henan, Guangdong, Jiangsu, Liaoning, Shandong and Shaanxi provinces are among the provincial regions aiming to build intercity high-speed rail systems by 2020. Fujian and Anhui are the only two provinces that currently have a high-speed rail system connecting all of its cities. Prefecture-level cities are ranked above counties. Zhao Jian, an economics professor specializing in rail transportation at Beijing Jiaotong University, said that the intercity construction plans are focused on the country's central and eastern regions, which are densely populated urban areas. The intent is for less developed areas in these regions to be better connected with the … [Read more...] about High-speed rail to link prefectural level cities
RBI may not find Modi’s powerpoint presentation on growth convincing enough
by Anirban Nag India’s central bank has finally accepted the inevitable -- growth in the $2 trillion economy is slowing more than it expected. It means recovery from an unprecedented cash ban imposed late last year by Prime Minister Narendra Modi will be a long, drawn out one and not the V-shaped bounce Governor Urjit Patel had hoped for. With growth estimated to slow to a four-year low, the door’s open for more easing by the Reserve Bank of India in coming months as pressure builds on it to provide a boost to the economy that has been roiled by a chaotic roll out of the goods and services tax and the after-effects of the cash ban. Of course, the downgrade to growth by the central bank risks hurting inflows from foreign investors, many of whom have been pulling money out of high-yielding Indian assets in recent weeks. "The implementation of the goods and services tax so far also appears to have had an adverse impact, rendering prospects for the manufacturing sector … [Read more...] about RBI may not find Modi’s powerpoint presentation on growth convincing enough
Gold imports fall for 5th month as economy slows
By Shruti Srivastava and Swansy Afonso India’s gold imports in November declined for the fifth month as elevated prices and the slowest economic growth in six years curbed demand during the peak wedding season. Inbound shipments dropped 19 per cent from a year earlier to 56.1 tons, according to a person familiar with the data, who declined to be named as the information isn’t public. That makes it the lowest shipment for the month since at least 2015, data compiled by Bloomberg shows. Total overseas purchases slid 15 per cent from year earlier to 597.5 tons during the 11 months through November, the person said. Finance Ministry spokesman Rajesh Malhotra wasn’t immediately available for comment. Imports in the world’s second-biggest consumer have been falling as jewelers have been cutting purchases on poor demand. Slowing growth and a more than 20 per cent rally in prices this year are expected to push India’s domestic consumption to the weakest since … [Read more...] about Gold imports fall for 5th month as economy slows
