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India's Q4 GDP grows at 8.6% y-o-y

India's Q4 GDP grows at 8.6% y-o-y


NEW DELHI: India's economy grew at its fastest pace in six months in the quarter through March 2010, fuelled mainly by government and consumer spending, which is expected to allow policymakers to focus on anchoring inflation that is hovering near 10 percent. ( Watch )

The 8.6 percent expansion in the fourth quarter of the fiscal year 2009/10 was broadly in line with a median forecast of 8.7 percent in a Reuters poll and lifted the annual average growth rate for the full fiscal year to a slightly better-than-expected 7.4 percent.

India's economy had grown 6.7 percent in 2008/09, and the Jan-March 2009/10 growth rate matches the revised data for the second quarter of 2009/10. The data is unlikely to evoke any immediate and aggressive policy response from the central bank, as concerns on Europe's debt crisis are expected to keep its policy on hold for now.

"It would be important to note that this release is a backward looking number and our sense is that policy makers would remain considerate of the external developments and any associated downside risk to overall growth," said Anubhuti Sahay, an economist with Standard Chartered Bank in Mumbai. Indian stocks and the rupee strengthened immediately after the data, while the benchmark bond yield rose 2 basis points from before the release.

The expansion in the March quarter was driven by government spending, manufacturing and services. Revival of growth in farm output after a contraction in the quarter ago underscored the broad-based recovery in Asia's third-largest economy.

More @ India's Q4 GDP grows at 8.6% y-o-y



Manufacturing lifts FY10 GDP growth to 7.4%

Jan-March GDP grows 8.6%, in FY10 it rises 7.4%




Src: ET and Moneycontrol, Smartinvestor.in

Investors Guide - ET

Analysts' Pick: Yes Bank, ITC, Tata Power, Container Corp of India, MphasiS

Switch to cos with smaller FII exposure

Mid-term picks | Top 5 picks | Cos with low FII Holding

Wkly Tech Analysis: Pullback likely to persist

Intermediate market uptrend under way
31 May 2010, 0440 hrs IST, Deepak Mohoni

The stock market rallied quite strongly in the second half of last week, helping the Sensex finish 2.54% or 417.45 points higher, and the Nifty 2.75% up.

Corporate Round Up: Madras Cements, Deepak Fertilisers & Petrochem Corp, NHPC, Apollo Tyres
31 May 2010, 0440 hrs IST

Madras Cements’ performance in the March 2010 quarter was adversely affected by a nearly 22.1% y-o-y fall in its realisations on a per tonne basis to Rs 2,778 in its key cement division.

We will double the number of stores to 60 in next 5 yrs: Shrikhande, CEO, Shoppers Stop
31 May 2010, 0440 hrs IST, Supriya Verma Mishra

Currently, we have 30 stores and we are planning to open at least 18 more stores in the next 24-30 months. In the next five years, we will double the number of stores to around 60. We’ll also expand our presence to 25 cities from the current 13.

Pharma cos shows the improving trend in their growth
31 May 2010, 0440 hrs IST, Kiran Kabtta Somvanshi

Good sales in the domestic market and a recovery in the US market, the largest pharma market, have been the major contributor of the companies’ performance.

Fixed income instruments that guarentee capital and returns
31 May 2010, 0440 hrs IST

With the equity markets going through troubled times, traditional fixed income instruments again catch investor’s fancy as they guarantee both the capital and returns.

Investors should go for large-cap equity schemes
31 May 2010, 0439 hrs IST, BAKUL CHUGAN TONGIA

Though launched in ’95, Birla Sun Life Advantage has been overtaken by its new siblings. Investors looking for outstanding returns can look for other large-cap equity schemes.

Investors should increase weight of small banks' stocks
31 May 2010, 0439 hrs IST, Karan Sehgal

While some of the large banks are grappling with spike in bad assets, their smaller regional peers boast of high asset quality.

Bull's Eye: Yes Bank, ITC, Tata Power, Container Corp of India, MphasiS
31 May 2010, 0439 hrs IST

JP Morgan initiates coverage of ITC with an `Overweight’ rating and a target price of Rs 307.

Deccan Chronicle Holdings' paying record makes it an attractive buy
31 May 2010, 0438 hrs IST, Rajesh Naidu

What is attractive for investors is media stocks didn’t move much even though their financial outlook looks robust.

Src: Economictimes