The Economy
India Is Not Looking Promising
seekingalpha.com, By Hale Stewart
The weekly Indian ETF chart shows that for the last year, prices have been trading in a range between roughly 47.5 and 62.5 — a range of about 30%. Most importantly, the rally chart started last May has been broken; prices are slow below the 200-week EMA on declining momentum and lowering participation…
India: Set For Slowest Growth In A Decade
seekingalpha.com, By MetalMiner, By Stuart Burns
In the first of two articles on the India market, one short-term, one long-term, we take a look at the failure that is India’s current position. Democracy is both India’s pride and its curse. Pride that a population of over 1.2 billion has maintained a solid and free democracy for over fifty years is rightly a source of national pride reflective of the tolerance and maturity of its peoples…
India’s March inflation rate seen easing marginally – Reuters
news.google.com, By Manoj Kumar
NEW DELHI | Sun Apr 14, 2013 5:14pm EDT. NEW DELHI (Reuters) – India’s headline inflation probably declined to 6.4 percent in March, the slowest rate in more than three years, but high food inflation remains a challenge for the central …
India Inc to post worst results in 3 year
http://timesofindia.indiatimes.com/
India Inc is set to post its worst ever quarterly earnings growth in the last quarter of fiscal 2013 since the end of the global financial crisis.
India minister heads to Canada, US to woo investors
http://news.yahoo.com
India’s finance minister heads to Canada and the United States this weekend to seek investment to plug a gaping hole in public finances and raise money to overhaul the nation’s crumbling infrastructure.
India’s $500 bn export target unlikely to be met
http://timesofindia.indiatimes.com/
India’s ambitious target of reaching USD 500 billion in exports by 2013-14 fiscal is unlikely to be met due to weak demand in global markets such as the US and Europe, Assocham has said.
Business and Investing
‘India to be 2nd largest air traffic market in 10 years’
http://timesofindia.indiatimes.com/
The open air policy of the government has helped achieve higher growth in the aviation sector and the country is going to be the second largest air traffic market in the world, aviation minister Ajit Singh said today.
India’s largest copper smelter closed until at least Apr 29
http://www.mineweb.com
Sterlite’s copper smelter will not start commercial production until at least April 29, when a court will again consider a request to reopen the plant.
Infosys: India’s IT Leader Sinks Like A Stone After Horrible 2013 Guidance
seekingalpha.com, By Sneha Shah:
I have been holding a negative view on the Infosys (INFY) stock for some time now. The Indian IT Services Industry is showing slowing growth due to a number of macro factors. Some companies are managing the transition better while others are still stuck in the glory days of the past. Infosys which used to be the leader in the IT services space earlier, has become its most prominent laggard…
‘Stir at currency press may spread to other units’
http://timesofindia.indiatimes.com/
A ‘stop work’ agitation at the India Security Press and Currency Note Press which began from Friday evening after altercations between a CISF Commander and workers continued on the third day today.
India Inc raises $7.5bn in foreign debt
http://timesofindia.indiatimes.com/
As the cost of rupee funds remains too high, 11 companies have raised a record USD 7.5 billion in foreign debt this year via bonds, which is 75 per cent of what India Inc had mopped up in the entire 2012.
Lower prices push gold jewellery demand in India
http://www.mineweb.com
While investors wait on the sidelines looking for directional signals from the international market, Indian jewellery customers flock to jewellery stores.
AirAsia starts recruiting pilots for India venture
http://news.yahoo.com
Asia’s largest budget carrier AirAsia announced Saturday it has begun recruiting pilots for the no-frills Indian airline joint venture it plans to launch later this year.
BMW unveils motorcyle tie-up with Indian firm
http://news.yahoo.com
German top-of-the-range carmaker BMW, which also makes high-powered motorbikes, announced an agreement with India’s TVS Motor Company on Monday to produce small-engine motorcycles.
BloombergNews: Billionaire Mittal wins temporary reprieve in India court
http://www.bloomberg.com/BloombergNews:
Billionaire Mittal wins temporary reprieve in India court
India’s Wipro shares dive after business split
http://news.yahoo.com
Shares in India’s third-biggest software firm Wipro tumbled more than 11 percent on Tuesday, its first day of trading as a standalone IT company since it hived off other businesses into a separate unit.
India ETFs: A Critical Year
seekingalpha.com, By Thomas Furda:
India is an economy that marches to the beat of its own drum.The country’s development depends heavily on its government’s ability to enable investment (both foreign and domestic) and create conditions for enterprise to develop. It is a formula followed by many successful emerging markets…
India’s RCom ‘to sell group firm to Bahrain Tele’
http://news.yahoo.com
Indian mobile phone firm Reliance Communications (RCom) owned by Anil Ambani will sell a majority stake in a telecom subsidiary to a Bahrain Telecommunications-led group for $1.1 billion, a report said Monday.
Wipro shares slump after split
http://timesofindia.indiatimes.com/
Shares in India’s Wipro Ltd , India’s No.3 software services provider, fell as much as 11.3% on Tuesday, which marked the first trading session as a standalone IT stock after splitting its other businesses into a separate unit.
India’s rough diamonds imports set to jump by 25% in FY14
http://www.mineweb.com
Imports of rough diamonds are to jump from the current $14.5 billion, as exports of the processed gems to top consumers increase, with Indian exporters entering newer markets.
