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24 Apr 2023
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Indian Economy
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ICICI Securities Limited
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Economy Update
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Gas-based power plants are ready to meet any power deficit during the peak demand period this summer, and availability of natural gas is being ensured by GAIL India and Petronet LNG. Both GAIL and Petronet have issued several tenders to import liquefied natural gas (LNG) for deliveries in May'23 and Jun'23.
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21 Apr 2023
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Indian Economy
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ICICI Securities Limited
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Economy Update
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India’s economic activity is expected to decline and witness a lower growth print in FY24 on the back of a buoyancy in the services sector, moderation in inflation and the consistency in public sector capital expenditure, stated a report by Acuité Ratings on Thursday.
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20 Apr 2023
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Indian Economy
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ICICI Securities Limited
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Economy Update
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India’s sugar production next season will be enough to meet the local demand and the country will also be able to export some quantities of the sweetener, despite concerns about the emergence of the El Nino weather pattern, a top government official said. El Nino forecast has made sugar industry worried about the impact on the output of sugarcane and in turn on the production of sugar.
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18 Apr 2023
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Indian Economy
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ICICI Securities Limited
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Economy Update
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Diesel sales in India jumped up sharply in the first half of April as agricultural activity pick-up and trucking increased to meet industrial demand, preliminary industry data showed on Monday. Demand for diesel, the most consumed fuel in the country accounting for about two- fifths of the demand, soared over 15% to 3.45 mn tonnes in the first half of April vs a year ago.
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18 Apr 2023
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Indian Economy
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ICICI Securities Limited
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Strategy Note
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Data on aggregate sectoral institutional flows activity during the market turmoil in Mar’23 indicates that FIIs were buying risk (high beta and value stocks) in the form of stocks related to cyclical and capital-intensive sectors. Aggregate MF funds bought across sectors in Mar’23 with bulk of the buying again focused on high-beta and capital-intensive sectors except IT services.
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17 Apr 2023
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Indian Economy
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ICICI Securities Limited
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Economy Update
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As INFY has high exposure to the digital transformation agenda of clients, which is seeing a delay in decision making, it led to a sharp revenue drawdown in Q4FY23.
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17 Apr 2023
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Indian Economy
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Prabhudas Lilladhar
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Strategy Note
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14 Apr 2023
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Indian Economy
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ICICI Direct
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Economy Update
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13 Apr 2023
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Indian Economy
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ICICI Securities Limited
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Economy Update
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Industrial output accelerated to 5.6% YoY growth in Feb’23. Manufacturing strengthened to 5.3% YoY growth, offsetting the deceleration in electricity (+8.2% YoY) and mining (+4.6% YoY). Industrial output grew 5.4% YoY in Jan-Feb’23, considerably faster than its 2.1% YoY growth in Jul-Dec’22.
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12 Apr 2023
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Indian Economy
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ICICI Securities Limited
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Economy Update
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The IMF has lowered its growth forecasts for India for the current fiscal year and the next by 20bps and 50bps, to 5.9% and 6.3%, respectively. This was broadly in line with the cuts in its global growth forecasts for 2023 and 2024 by 10bps each to 2.8% and 3%, but indicated that India may not be weathering the global turmoil as exceptionally as it was expected to.
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