INDIA Q2 ECONOMIC GROWTH
India Inc: Key takeaways from Q2 earnings season for investors
The second quarter of FY25 saw mixed financial results for Nifty 50 companies. While Pharma and Realty thrived, Energy and Infrastructure struggled. Factors like uneven rainfall and inflation impacted sectors like FMCG and Auto. Despite challenges, companies adapted through operational efficiency and strategic initiatives, with optimism for a stronger second half of the fiscal year.
Indian economy¡¯s road to recovery? Private consumption driving domestic demand again, says RBI
The Reserve Bank of India's latest bulletin highlights that India's economic slowdown in Q2 of 2024-25 has eased, with private consumption driving domestic demand, especially boosted by festival spending in Q3. Despite global economic resilience, the RBI noted challenges such as rising protectionism and fragile confidence.
Growth likely to have slowed in Q2 but no significant downside risk to FY25 projections: DEA
India's economic growth may have slowed down recently. However, the economy is still projected to grow between 6.5% to 7% this fiscal year. Data on e-way bills and e-invoices support this projection. Food prices have been a concern, but inflation is not a major challenge. Government capital expenditure may be slightly lower than initially projected.
India's Q2 economic growth likely took a hit from heavy rains and corporate struggles: ICRA
India's economic growth is expected to moderate to 6.5% in the second quarter. This is due to heavy monsoon rains and weaker corporate margins. However, government capital expenditure and kharif sowing have shown positive growth. The industrial sector is likely to see the biggest slowdown. Services and agriculture sectors are expected to remain resilient.
Economy likely to grow 6.7% in FY25 due to weaker Q2 performance: Report
India's economic growth is projected to reach 6.7% in 2024-25. This follows a weaker second quarter with slower growth indicators. A rebound is expected in the latter half of the fiscal year, driven by agriculture and government spending. Domestic demand will continue to fuel growth, reaching 6.5% in 2025-26 and 2026-27.
Morgan Stanley lowers India's growth aim for FY25; economy may expect a better Q3 show with wedding season
Morgan Stanley has revised India's FY25 growth forecast to 6.7%, down from 7%, citing weaker-than-expected second-quarter data. Despite the downgrade, the firm anticipates a rebound in the second half, fueled by government spending and improved agricultural output. Inflation is expected to moderate, prompting potential rate cuts by the Reserve Bank of India in April.
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Trump, rupee and economic growth: What's in store for India in 2025?
DBS Bank predicts India's economic growth will moderate to 6% in 2025 and 2026, influenced by factors like a potential Trump return and domestic challenges. Despite this, India's long-term outlook remains positive, with expectations of becoming the world's third-largest economy, fueled by infrastructure investments and a stable macroeconomic environment.
Honasa Consumer shares crash 20% to 52-week low after reporting YoY loss in Q2
Honasa Consumer share price: Honasa Consumer, the parent company of Mamaearth, faced a setback with a net loss of Rs 19 crore in the second quarter. This loss comes after a strategic shift in their distribution model. Despite the setback, the company experienced growth in certain product categories and offline market share.
Cocktail of growth, inflation to bring 7.2% GDP high: Moody's
Moody's Ratings forecasts India's GDP to grow by 7.2% in 2024, retaining its position as the fastest-growing G20 economy, driven by strong consumption, investment, and manufacturing. Despite a recent surge in inflation, the outlook remains positive, supported by government spending, healthy balance sheets, and robust foreign exchange reserves.
UK economy grows by just 0.1% in Q3
The UK economy expanded by a weaker-than-anticipated 0.1% in the second quarter of 2024, falling short of economists' predictions. This slowdown follows a period of robust growth in the first half of the year as the economy recovered from a recession. The Bank of England has revised its growth forecast for 2024 downward to 1%.
India Inc fares well in Sept quarter, minus oil & gas
Indian companies, excluding oil and gas, reported solid double-digit profit growth for the seventh consecutive quarter, although the pace of expansion slowed. While banks and finance companies performed well, overall earnings were subdued due to a higher base effect and rising interest costs.
Modest recovery in central capex in Q2FY25, states and corporate capex continued to decline: CareEdge Ratings
India's capital expenditure saw a moderate resurgence in the second quarter, fueled by increased central government spending, despite a decline in state-level investments. While corporate capital expenditure dipped slightly, promising order books in capital goods and infrastructure signal potential growth.
PI Industries shares nosedive 9% as Q2 results disappoint Street
PI Industries Share Price: PI Industries shares dropped 9% despite a 6% YoY rise in Q2 profit, driven by biological growth and improved gross margins. However, domestic revenue saw a decline.
Q2 results today: Grasim, Hero MotoCorp among 1203 companies to announce earnings on Thursday
Get ready for a busy day in the Indian stock market. Over 1200 companies will reveal their financial performance for the July-September quarter. Keep an eye on major players like Hero MotoCorp and Grasim Industries. Analysts predict growth for both companies, driven by higher sales and improved profitability.
BSE shares tumble over 3% even as Q2 profit skyrockets 193% YoY to Rs 346 crore
BSE's share price dropped 3.5% despite a 193% surge in Q2 net profit, reaching Rs 346 crore. Revenue also saw a significant rise of 138%, hitting Rs 746.3 crore. While analysts acknowledge the strong performance driven by derivatives and increased market share, some remain cautious, suggesting a 'Hold' rating for the stock.
'Govt FY25 spends to be in sync with Budget estimates of ?48.2 lakh cr'
India's government spending for the current fiscal year is expected to stay around the budgeted amount, despite upcoming requests for additional funds. The focus remains on meeting the fiscal deficit target by managing spending and boosting capital investments, which have lagged in the first half of the year.
Jubilant FoodWorks shares zoom nearly 7% even as Q2 PAT falls 31% YoY
Jubilant FoodWorks Share Price: Jubilant FoodWorks witnessed a surge in its shares despite a 31.5% YoY decline in profit, posting a PAT of Rs 66.53 crore. This growth was fueled by a 43% YoY increase in revenue, reaching Rs 1,954.70 crore. The company's strategic initiatives, including new store openings and a focus on delivery services, contributed to its positive performance despite market challenges.
Q2 results today: Hyundai, Nykaa among 540 companies to announce earnings on Tuesday
Nykaa is predicted to experience a threefold increase in net profit for the second quarter, reaching Rs 1900 crore in revenue. This surge is attributed to the success of their beauty and personal care (BPC) sector. The fashion vertical also showed growth, with revenue growth in the early twenties.
Jubilant Foodworks Q2 Results: Cons net profit declines 31% YoY to Rs 67 cr, revenue up 43%
Jubilant FoodWorks, owner of Domino's and Dunkin' brands, saw a decline in profits this quarter. Revenue, however, increased significantly. The company added 73 new stores, bringing the total to 3,120. Domino's India achieved record high monthly active users. The company's shares closed slightly lower after the announcement of these results.
Godfrey Phillips India Q2 Results: Net profit up 23% at Rs 248.31 crore
Cigarette maker Godfrey Phillips India Ltd on Monday reported a 23 per cent rise in consolidated net profit to Rs 248.31 crore in the second quarter ended September 30, 2024, fuelled by higher sales.
Action Construction Equipment Q2 Results: PAT grows 28% YoY to Rs 95 crore
Action Construction Equipment saw a profit jump of 28% in the recent quarter. The company's income also increased, reaching Rs 790.90 crore. Sales of cranes and construction equipment were strong. The company sold 2,863 units, a 9% increase from the previous year. Action Construction Equipment is positive about future growth opportunities.
GDP likely to grow 6.2 pc in Q2: Barclays
India's economic growth is projected to slow to 6.2% in the second quarter of 2024-25, due to a high base effect and heavy rainfall, as per Barclays' estimates. While government spending and rural consumption are picking up, urban demand and private investment remain weak. Barclays has revised its GDP forecast for 2024-25 to 6.8% from 7% earlier, expecting a recovery in the second half of the year.
TARC Ltd reported Rs 1,012 crore pre-sale Q2 FY25, 900% year-on-year growth
Realty developer TARC Ltd. achieved Rs 1,012 crore in presales for Q2 FY25, a 900% surge driven by the launch of its new luxury residential project in Gurugram. The company also refinanced debt at a lower cost and remains on track to meet its financial targets, with plans to unveil more luxury projects in Delhi and Gurugram soon.
SBI Q2 Results Preview: NII may grow at 4-9% YoY on healthy loan growth
State Bank of India is predicted to post single-digit net interest income growth for the September quarter, fueled by loan growth but tempered by deposit costs. Brokerage estimates project net profit to range between Rs 12,894 crore and Rs 18,712 crore, with varying outlooks on year-on-year and sequential changes.
Q2 results today: SBI, Tata Motors among 152 companies to announce earnings on Friday
Over 150 companies, including major players like SBI, LIC, Tata Motors, and Vedanta, are set to release their July-September 2024 quarter results today. SBI is predicted to show single-digit growth in net interest income, while Tata Motors is expected to see a 30% rise in net profit despite muted revenue growth.
Q2 GDP expansion to be muted, FY25 growth projected at 7%: SBI
The State Bank of India predicts India's economic growth will slow to 6.5% in the second quarter of this fiscal year, but rebound to 7.2-7.3% in the third quarter. This projection, based on various consumption indicators, anticipates rural demand as a key driver of recovery, with overall GDP growth for 2024-25 estimated between 6.9-7%.
India's Q2 GDP growth may slow down to 6.5%; FY25 growth seen closer to 7%: SBI
SBI economists predict a dip in India's GDP growth to 6.5% for the September quarter, citing temporary pressures on the domestic economy. Despite this, they maintain an optimistic outlook, expecting a rebound in the following quarter fueled by rising rural demand and anticipate FY25 growth to approach 7%.
India Inc's Q2 show is scary? Shaktikanta Das says he won't 'rush' to say economy is slowing
RBI Governor Shaktikanta Das affirmed India's economic activity remains robust, particularly in agriculture and services. Despite mixed data and concerns over slowing urban consumption, Das highlighted positive indicators like the rebound in manufacturing and services PMIs, supporting the RBI's 7.2% growth forecast for the fiscal year.
Growth may have slipped in rainy Q2 but forecast for fiscal is sunny
India's economic growth slowed to 6.8% in July-September due to reduced consumption and investment amid heavy monsoon rains. Factors like lower diesel and electricity usage, slower vehicle sales, a global slowdown, and geopolitical tensions affected growth. Economists expect overall annual growth to remain robust at around 7%.
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