Nomura

While markets eye both economic and political issues, in the medium-to-long term, analysts believe election results do not matter much

Japanese brokerage Nomura on Friday said Reserve Bank's 6.5 per cent real GDP growth estimate for FY24 is too optimistic, and the central bank will pivot to rate cuts from October. The brokerage said it agrees with the Reserve Bank's projections on price rise, and said that the worst of headline inflation is behind us. "However, the revised GDP growth forecast of 6.5 per cent in FY24 appears too optimistic, the brokerage said, adding that it estimates growth to slow down to 5.3 per cent. A slew of agencies and analysts has cut the FY24 growth forecasts in the recent past, with many of them pegging it under 6 per cent as well. Nomura said it expects a downside of over 1 percentage point to the RBI's growth estimate on weaker global growth, high uncertainty and the lagged effects of domestic policy tightening. The RBI had attributed the upward revision in growth to a dip in crude oil prices to USD 85 per barrel as against USD 90 per barrel. After announcing the policy, Governor ...

Only if more skeletons don't emerge from the closet

US inflation, Nomura said, is still elevated and the Fed will look to bring it down going ahead.

Nomura Holdings Inc.'s asset management arm released details on Tuesday about 30 of its publicly offered investment trusts that hold either stocks or bonds of Adani companies.

Natarajan is due to join the Japanese firm's Indian unit in the coming months, the sources said, declining to be named as the hiring decision is not public

Natarajan is due to join the Japanese firm's Indian unit in the coming months, the sources said, declining to be named as the hiring decision is not public

India's growth is "likely to disappoint at 4.5% in 2023 due to global spillovers, prompting 75 basis point of rate cuts in second half of 2023," Nomura economists led by Sonal Varma wrote

The govt last week discontinued a version of a free-food program for low income households, and replaced it with the new initiative that will also give out free grains while lowering the quantity

The stock has underperformed peers and the benchmark over the past year

The key risks identified by the brokerage are stretched government finances and oil prices going past $120 a barrel

New plant expected to boost company's revenues, margins

Further price cuts, higher advertising costs to weigh on margins

Excluding the strong US show led by Revlimid, Q2 was a mixed bag

Nomura Singapore on Tuesday divested 1.52 per cent stake in private sector lender CSB Bank for over Rs 61 crore through an open market transaction. According to bulk deal data available with the National Stock Exchange (NSE), Nomura Singapore offloaded 26,39,673 shares, amounting to 1.52 per cent stake in the company. The shares were disposed off at an average price of Rs 232.3 apiece, taking the transaction value to Rs 61.31 crore. Meanwhile, Maybank Securities Pte bought the shares at the same price. On Tuesday, shares of CSB Bank closed 2.42 per cent lower at Rs 228.20 apiece on NSE.

A sustained recovery in Asian markets, Nomura said, will largely depend on how the Covid situation and the ensuing curbs put in place to combat the pandemic in China plays out going ahead

He says that the market valuation premium over emerging market (EM) peers is around 70% versus the long-term average of nearly 40%

Japanese brokerage Nomura has projected a sharp moderation in India's growth rate for FY24 to 5.2 per cent as compared to FY23, saying Indian policymakers are misplaced about their optimism on the country's growth prospects. After a week-long meetings with policymakers, corporates, commercial banks and political experts, its economists said its FY23 GDP growth estimate is at 7 per cent at par with the RBI's revised down forecast but it expects a "sharp moderation" to 5.2 per cent in FY24. While we broadly agree with our interlocutors on the growth prospects in FY23, we believe the optimism in FY24 may be misplaced and that the spillover effects from the global slowdown are being underestimated, its economists Sonal Verma and Aurodeep Nandi said in a note. The RBI has hiked repo rate by 190 basis points since May to tame inflation and is expected to do more, especially amid faster rate tightening by the US Fed, which is bound to impact growth. The economy grew at 4 per cent in FY2

Research house Nomura expects CAD as a share of the gross domestic product to triple this fiscal year, saying that a global economic slowdown will further skew the country's trade imbalances

The Adani conglomerate has committed to invest a total of $70 billion by 2030 across its green energy value chain to become the world's largest renewable energy producer.