Smart money has recently shifted toward fast-moving consumer goods (FMCG) and consumption-related shares, with global macroeconomic volatility in the shape of weak US economic data, a declining Yen, and rising geopolitical tensions dulling the allure of growth and momentum stocks. However, money managers and analysts see limited short-term upside for FMCG stocks due to high … Read more
India Ratings and Research expects vehicle financiers to increase the share of used vehicles in their overall vehicle asset under management (AUM). This is because the rising new vehicle prices, driven by the changes in emission norms, technological changes and higher commodity prices, have made the purchase of new vehicles out of reach for first-time … Read more
The India Meteorological Department (IMD) announced its stage-2 long-range forecast for southwest monsoon 2024. It has retained its outlook of an above-normal monsoon this year. It expects rainfall in the upcoming monsoon to be at an eight-year high of 106% (with an error margin of +/-5%) of the long-period average of 870mm for the four-month … Read more
Tractor market leader, Mahindra and Mahindra has cut its forecast for the domestic tractor sales for the industry for FY24 citing weakness in the rural economy. Against its earlier forecast of low single digit growth, it now expects tractor sales in the world’s largest market for such implements to decline 5% year-on-year. For the current … Read more
Sanjiv Puri, CMD, ITC, says the Indian economy and even rural India has been very resilient. The infrastructure that has been created, the connectivity, focus on housing and digitisation, the direct benefit transfer and stuff like free food grain distribution are some of the very important steps taken in terms of the investment in the … Read more
