A day of reckoning awaits the stock market rally, but not just yet, StockMonster's Guy Adami says.
NEW DELHI/ MUMBAI, Oct 29- India's government vowed on Monday to rein in the country's hefty fiscal deficit, increasing the pressure on the central bank on the eve of its next policy meeting to cut interest rates for the first time since April.
BEELAHERI, India, Oct 25,- India is shaking up the way it gets billions of welfare dollars to the poor with a plan that could one day reshape the economy and tackle graft keeping millions in poverty, but in one small town a pilot of the new system is proving unpopular.
MUMBAI, Oct 12- Indian shares snapped a five-week streak of gains on Friday as bellwether Infosys Ltd. Worries that India would post high inflation data on Monday and erode prospects of interest rates cut from the central bank at the end of the month hit financial stocks such as ICICI Bank.
falls 0.66 percent while the 50- share NSE index is down 0.56 percent heading to their first weekly fall after five weeks of straight gains. drops 5.5 percent after disappointing investors with weaker-than-expected margins and took a conservative view on its full-year earnings.
MUMBAI, Oct 12- India's HDFC Bank Ltd will consider reviewing the bank's base rate at some point during the current quarter as deposit costs have come down, Executive Director Paresh Sukhtankar said on Friday.
Oct 12- HDFC Bank, India's No.3 lender, met forecasts with a 30 percent year-on-year rise in second quarter profit, led by stronger loan growth, greater fee income and stable net interest margins.
Oct 12- HDFC Bank, India's No.3 lender, met forecasts with a 30 percent rise in quarterly profit, led by stronger loan growth, better fee income and stable net interest margins.
MUMBAI, Oct 12- India's industrial production rose by a higher-than-expected 2.7 percent in August from a year earlier, after contracting in July. Analysts polled by Reuters had expected a rise of 1.1 percent in August output. COMMENTARY RAJEEV MALIK, SENIOR ECONOMIST, CLSA, SINGAPORE.
MUMBAI, Oct 12- India's industrial production rose by a higher-than-expected 2.7 percent in August from a year earlier, after contracting in July. COMMENTARY JYOTINDER KAUR, ECONOMIST, HDFC BANK, NEW DELHI. RADHIKA RAO, ECONOMIST, FORECAST PTE., SINGAPORE.
The company also said revenue growth forecast for the current fiscal year that ends in March 2013 does not include the revenue from Lodestone Holding AG. India's benchmark 10- year bond yield. India's benchmark 5- year OIS up 3 bp at 7.00 percent, while the 1- year rate up 1 bp at 7.61 percent.
,India's No.2 software exporter, falls 6.9 percent after the company's revenue growth forecast for the fiscal year that ends in March failed to meet market expectations. *However, the company's revenue growth forecast for the current fiscal year does not include the revenue from Lodestone Holding AG, Chief Financial Officer V. Balakrishnan said on Friday.
*Nifty futures on the Singapore Exchange. FACTORS TO WATCH* Infosys, India's no. 2 software services provider, will report September quarter earnings. *A committee, led by prime minister's Economic Advisory Council chief C. Rangarajan, will recommend lifting curbs on India's tightly controlled sugar sector.
*Nifty futures on the Singapore Exchange. *Infosys, India's no. 2 software services will report September quarter earnings. Infosys is expected to post a 24.9 percent rise in profit in the quarter ended Sept. 30 to 23.8 billion rupees.
*Unitech surges after settlement with Telenor. MUMBAI, Oct 11- Indian shares rose on Thursday as expectations of better-than-expected earnings sent Infosys. and HDFC Bank higher a day before they report results.
*Nifty futures on the Singapore Exchange. *Asian shares tracked Wall Street lower on Thursday as weak forecasts from U.S. corporate bellwethers underscored concern over global demand, particularly from China, and kept oil and other commodity prices under pressure.
*S&P says India still faces risk of rating downgrade. *India FY13 car sales growth f'cast slashed to 1-3 pct. S&P said the recent reform steps initiated by the government had helped in "slightly" revising its view on the country's credit rating, but warned India still faced a one-in-three chance of a credit rating downgrade within the next 24 months.
MUMBAI, Oct 10- Indian shares provisionally ended lower on Wednesday led by a fall in banking stocks including ICICI Bank. ICICI Bank fell 0.95 percent while State Bank of India. Ahead of corporate earnings on Friday, Infosys.
falls 0.64 percent, while the 50- share NSE index is down 0.68 percent, as profit-taking hits private lenders, including ICICI Bank. falls 1.1 percent after gaining 1.14 percent on Tuesday, while HDFC Bank. *Blue chip capital goods stocks also hit by profit-taking: Larsen& Toubro.
*Blue chips that report earnings on Friday lead the fall in India: Infosys. falls 1.4 percent, while HDFC Bank. *Traders still welcomed a government panel report recommending India scrap a law that taxes asset transfers retrospectively.