Global markets

A garment park pilot project, on 30 acres of land, is expected to come up at Solapur which has large number of uniform manufacturers in the country, according to the Solapur Garment Manufacturers Association (SGMA). “We can accommodate 125 units in the pilot project and we are willing to pass on surplus business to other regions like Pune and Nagpur so that the whole State can benefit,” said Amit Kumar Jain, director, Solapur Garment Manufacturers Association (SGMA).The plan come in the backdrop of garment manufacturers from Maharashtra coordinating to set up half a dozen garment parks in different parts of the State to capitalise on the growing demand for uniforms from India and abroad.“Solapur has already established its credentials as a reliable source of uniforms for India and around the world. Now, we are organising a trade fair in Mumbai in December third week to generate additional volume for our members as well for other garment manufacturing regions in the … [Read more...] about Solapur garment makers eye global market

The Chinese economy is undergoing a prolonged period of slowdown and it is still trying to find a bottom. By the end of this year, it will probably go bottom up, Margaret Yang, market analyst, CMC Markets, said in an interview with ET Now.Edited excerpts: A big talking point has been the way we have seen the Chinese markets outperforming consistently. What do you believe are the key data points driving this outperformance? Is it likely to continue? We are talking about two issues – one, crude oil price movements, another one is how the China market is going to perform in the days to come. For crude oil, it is quite obvious that Donald Trump’s tweet criticising OPEC’s effort is really having a big impact in the market. Since Donald Trump became President, he has been very influential in the stock as well as commodities markets. Every time he tweets, something happens. Therefore, people are cautious on whether or not Trump is going to influence OPEC trying to drive … [Read more...] about If things go wrong, China slowdown could extend to next two years: Margaret Yang, CMC Markets

If corporates do deliver a very strong earnings growth as expected, that could provide another leg up in the market for Indian equities, says Bill Maldonado, CIO, Asia Pacific, and Global CIO, Equities, HSBC Global AMC. Excerpts from interview with ETNOW. How is the sentiment towards India as an investment destination? The sentiment towards India is generally pretty positive from international investors. What has happened in India over the last few years which is very interesting is that India sort of became a safe haven investment when people were very worried about the global economy and were very worried about the Chinese economy. One of the characteristics was very valued and the Indian economy was that; it was relatively less correlated to the world economy than other parts of Asia. So quite a lot of flows came into India when people were very nervous and that is really a very interesting scenario. If I had said 10 years ago perhaps or five years ago that India will become kind … [Read more...] about It would not be surprising if India takes a little breather: Bill Maldonado, HSBC Global AMC

In a chat with ET Now, Tushar Pradhan, CIO, HSBC Global Asset Management, says in Q1 and Q2 of this financial year, we are likely to see the bottoming out of the economy which does not really translate into earnings growth. Edited excerpts ET Now: L&T Infotech is down because the IT companies have not come out with the best of numbers but suffice to say earning have not really given us that shot in the arm. HUL too was largely disappointing. The same goes for IndusInd Bank numbers. We have not had a blowout number or an at par number. Do you think Q1 this time around could turn out to be a bit of a disappointment? Tushar Pradhan: I am very happy that you brought that number out because I think this is what we have been saying for a while. Most people are expecting the earnings growth number to be pretty strong for FY17 and they believe that it begins from first quarter. Actually, it is not going to play out like that in my opinion. It is actually going to be a base effect here … [Read more...] about There’s going to be a spurt in earnings in Q3 and Q4 this year: Tushar Pradhan, CIO, HSBC Global AMC

NEW DELHI: Fertilizer stocks were trading on a mixed note in Monday's afternoon session. Shiva Global Agro Industries (up 7.06 per cent) , Rama Phosphates (up 6.46 per cent) , Khaitan Chemicals & Fertilizers (up 3.54 per cent) , Coromandel International (up 2.92 per cent) , Basant Agro Tech (India) (up 2.81 per cent) , Bharat Agri Fert & Realty (up 1.95 per cent) , National Fertilizer (up 0.39 per cent) , Mangalore Chemicals & Fertilizers (up 0.36 per cent) and Zuari Agro (up 0.22 per cent) were among the top gainers. Nagarjuna Fertilizers & Chem (down 4.75 per cent) , Gujarat Narmada Valley Fertilizers (down 4.04 per cent) , Deepak Fertilizers & Petrochemicals (down 2.46 per cent) , G S F C (down 1.69 per cent) , Southern Petrochemicals Industries (down 1.35 per cent) , Aries Agro (down 0.57 per cent) , Rashtriya Chemicals & Fertilizers (down 0.54 per cent) , Fertilizers & Chemicals Tranvancore (down 0.54 per cent) and Chambal Fertilisers & Chemicals … [Read more...] about Share market update: Fertilizer stocks mixed; Shiva Global Agro jumps 7%