• FY23, planned expenditure = 39.45 Lakh Cr; planned revenue = 22.84 Lakh Cr
• FY22 fiscal deficit: 6.90%; FY23 estimated at 6.40%
• PIL outlay of 30 Lakh Cr, aims at 60 Lakh new jobs
• FY23 divestment at 65,000cr.
• FY22 GDP at 9.27%.
• New scheme for branding promotion of Millet Product & domestic production of oil seeds
• Emergency Credit Line Guarantee to continue till 31st Mar FY23 with new outlay of 50 Lakh Cr
• Inter Operation between Post Office & Bank Account
• Digital Banking Unit in 75 districts
), of all the sectors that performed well over the last 29 yrs, broken down in to three decades, there were some interesting insights.
Barring the period between...
1991-2000, the next 2 decades saw stocks from chemical sector perform very well. Of the 973 stocks that gave >100% returns (simple returns: no div. reinvestments) between 2000-2010, 101 were from the chemical sector.
Likewise, between 2010-2020, 82 chemical stocks topped charts.
There is strong recovery in economy
Covid cases, fatality rate easing
Stock market capitalization at record high
Forex reserves at $560 bn
Energy consumption see 12% growth in Oct
Note: Only English notes will be provided, no translation😎
GST collections good, Bank credit improves by 5.1%, FDI inflows see 13% rise.
RBI predicts the possibility of a strong recovery by Q3, 1 quarter ahead of expectations.
Moody's revises India GDP forecast for:
CY20 to -8.9% from -9.6% earlier.
CY21 to 8.6% from 8.1% earlier.
Aug 23, 2020 • 8 tweets • 5 min read
(1/n) A thread on Kirloskar Ferrous Industries Ltd.
Founded in 1991, #Kirloskar Ferrous Industries Ltd. (KFIL) is in the business of Pig Iron and Grey Iron casting industry, serving infrastructure & construction, automotive, agriculture, manufacturing, textiles & steel sectors.
(2/n) Kirloskar Group was established in 1888. Laxmanrao Kashinath Kirloskar (20 Jun 1869 – 26 Sep 1956) was the founder of the Kirloskar Grp & the township of Kirloskarwadi, amongst India’s first industrial townships.
Jun 15, 2020 • 5 tweets • 9 min read
(1/n)Thread on "The Call to Boycott Made in China Products".
Src: CNBC TV18
(1/n) NSE Listed universe ownership trends:
- Total promoter ownership in NSE-listed #stocks⬆️by ~110bps (QoQ) to near 5 yr high of 50.9%
- FII ownership⬇️133bps (QoQ) to a 5 qtr low of 20.8% (highest sequential decline on a qtrly basis over last 19 yrs)
(2/n) Top 20 companies by value of shares bought by promoters in the March quarter.
- MPC voted in 5:1 ratio
- Repo rate reduced by 40bps from 4.4% to 4%
- Reverse repo rate cut to 3.35% from 3.75%
- Global economy headed into recession, with mfg PMI at 11 yr low
- Growth rate of EMs expected to be 2.6% to negative 6%.
- MPC maintaining accommodating stance till growth revives
- Prodn of most sectors declined rapidly, industrial production shrank by 17%
- Food grain prodn at record, normal monsoon expected
- Kharif sowing higher by 44%, Rabi procurement in full flow
- Farm incomes to improve;
May 14, 2020 • 8 tweets • 3 min read
Thread on #FinanceMinister's 2nd PC.
- Focus on migrant workers, street vendors, traders, small farmers
- 9 steps in total: 3 for migrant workers, 1 to sishu loan mudra, 1 for street vendors, 2 for small farmers and some more...
- overlaps with packages will exist.
- 3 crore farmers availed loans at concessional rates, with loans aggregating to Rs. 4L cr.
- Interest subvention was extended till Mar & now till 31 May 2020
- 25 lakh new kisan credit cards given to marginal farmers, totaling 25,000 cr of loans
#FranklinTempleton Concall highlights:
- Committed to India investments
- Providing daily liquidity is the challenge
- Will forego management fees
- orderly winding down is in best interest of the investor
- companies invoking force majeure
- Will return as soon as possible
(Inputs courtesy of @sathish_sesh)
- Trying to focus on other portfolio, to avoid panic redemption from other schemes
People from Templeton on call:
Vivek, Sanjay, Anand Radhakrishnan, CIO & Head of equity.
I think it is a serious liquidity issue but AMC will remain operational.
Mar 27, 2020 • 12 tweets • 4 min read
#rbigovernor Press meet pts:
- MPC advanced its mtg, evaluated macro economic conditions
- Voted for a 75 bps repo rate cut, 4-2 majority
- 5.15% to 4.4%,
- Reverse Repo rate reduced by 90 bps to 4%
- done this imbalanced cut for banks to support lending
- Need to support growth considering economic conditions
- Will fight #COVIDー19 with measures available
- RBI is at work and in mission mode, monitoring financial conditions, will provide additional liquidity support
- will work for financial stability