BUSINESS
India sees robust pre-order rush for Apple iPhones, 14 and 14 Pro most in demand
The pre-booking window for Apple iPhone 14 series opened Friday evening and iPhone 14, iPhone 14 Pro and iPhone 14 Pro Max were available for pre-order, which will be available from September 16. Industry sources told IANS that all the three iPhone 14 models -- especially 14 Pro followed by iPhone 14 -- have received tremendous response and after some initial hiccups online, the pre-orders were now smooth.
Indian telcos to spend $19.5 bn on 5G infra by 2025: GSMA
The report showed that 5G could benefit the Indian economy by $455 billion between 2023 and 2040, or more than 0.6 per cent of the GDP forecast for 2040, reflecting the large number of 5G use cases that could be implemented in the main sectors of India's economy. "5G benefits are expected to be realised in new applications in the manufacturing sector (representing 20 per cent of the total benefit) as well as the retail, ICT and agricultural sectors," the findings showed.
Paytm on my watchlist, next multibagger to come from digital businesses: Elixir Equities' Dipan Mehta
Elaborating on the subject, Dipan Mehta said the next set of multibaggers will come from concept stocks rather than mature businesses. He defined concept stocks as the ones where companies are doing something differently with a huge market and can be scaled up at a very low cost.
Experts predict volatility in rupee likely to persist in the short term
Suman Chowdhury, Chief Analytical Officer, Acuite Ratings & Research, said: "Along with the expanded trade and current account deficit, such an environment has kept the pressure on the rupee which continues to hover around 80. While the FII outflows have been arrested, the uncertainty on capital flows and the volatility in rupee are likely to persist in the short term."
RBI committed to hold rupee at 80 to USD; global headwinds likely to ease
Citing the trade deficit is increasing sharply and with analysts calling for a weaker rupee to help exports Mecklai said: "My sense though, is that RBI is fully committed to protecting Rs.80 to the dollar and I think that is when the global winds ease. The rupee may even strengthen back to Rs.79 or a bit better." The fall in global oil prices will help to reduce the trade deficit.
Current account deficit likely to grow, pushing up inflation, straining forex reserves
Experts though feel that it would be a tough task as current account deficit may further go up to more than 3 per cent of the GDP in the current financial year. Government, on its part, feels that with prices of global commodities like crude oil, fertilisers and gold among others falling, the current account deficit will gradually cool down.
Is 7.5% possible? Downside risks increasing for India's GDP growth forecast
Acuite acknowledges growing downside risks to its existing FY23 GDP growth estimate of 7.5 per cent on account of the adverse impact of uneven distribution of rainfall on the Kharif rice crop, the expectation of a material slowdown in global demand, and the likelihood of some back-loaded expenditure rationalisation by the Central government to meet its fiscal deficit target.
Bond yields fall over 18 bps because of cooling inflation, easing oil prices
The yield on 10-year benchmark 6.54 per cent-2032 bond yield, which was trading at 7.32 per cent in the last month, has eased to 7.13 per cent this month. "Besides crude oil prices easing out, there is an expectation of Indian Bond Index inclusion very soon. This news has created a positive vibe amongst investor and trading segment as the market is now expecting over $30 billion inflow in debt securities
Hardly a corrective: Caps on outbound shipments will only lead to drop in exports
A cautious government, mindful of the looming threat that current account deficit may reach 3 per cent of the GDP, had recently taken some measures through the Reserve Bank of India (RBI) to bring it down. Experts, however, feel that unless exports don't rise and import dependency does not come down, the Indian rupee's depreciation will continue and inflation will shoot up.
RBI using forex reserves 'sensibly' to defend rupee, lower outflow in festive season
"The erosion in the forex reserves amid the central bank's filling the gap between dollar demand-supply. The RBI has very well managed the inflows and outflows in the last couple of years," said Dilip Parmar, Research Analyst, HDFC Securities. According to the data compiled from the RBI's website, the central bank, since the start of this calendar year, has spent $94.752 billion till date to defend rupee from a free fall.
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