"India is most attractive among emerging economies beacause it is finally unleashing its economic potential and the growth rates of the recent past have confirmed that India has enormous potential."
"We are probably going to see a looser fiscal stance. Trump has promised to cut taxes and to raise spending on infrastructure. He is business friendly," says Lewis.
Demonetisation of Rs 500 and Rs 1000 notes will for next 3-6 months lead to economic activity virtually coming to a halt as people adjust to this new paradigm, but from a 3-5 year perspective, it reduces the cost of capital, inflation, gives more room (to the RBI) to cut interest rates.
The possible economic turmoil resulting from a Trump win would induce Fed not to raise rates in the same way as the Bank of England. Fed would bear in mind that this is an extraordinary disturbing event to America and would hold on if the rate increases.
Shares of Sun Pharmaceutical will be closely watched due to its material exposure to doxycycline development amid report that doxycycline-an antibiotic used to treat bacterial infections-is among the drugs being investigated.
“Union Bank is focusing on recoveries, and its ability to deliver here is key, else estimates for FY17 may see downsides,” said CLSA.
The government on Thursday announced GST rates, and said that some items of mass consumption currently taxed at 25-28% will be moved to the lower slab of 18%.
The brokerage firm retained outperform rating on the stock and raised target price to Rs 300 from Rs 290 on increase in target multiples for the cigarette business of ITC.
Analysts said concern over the impact of the US presidential election outcome on emerging markets, rich stock valuations in India and heightened expectations of rate increase by the Fed in December have prompted these investors to cut their long positions here.
BSE plans to operationalise the International Exchange in early 2017 and mock trading for the same commenced from October 3.
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