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India's GDP growth slows as inflation pressures persist and RBI holds rates steady
India's GDP growth has slowed to its weakest level in nearly two years, raising concerns about the government's economic targets. The slowdown is attributed to falling wages, shrinking corporate earnings, and high inflation, which has impacted consumption and investment. The RBI is expected to maintain its policy rate amid persistent inflation, with a cautious outlook on potential rate cuts in the near future.
stocks rebound as pharma and infrastructure lead market gains on november 29
On November 29, the Nifty and Sensex rebounded strongly, with the Sensex rising 759 points to 79,803 and the Nifty gaining 217 points to 24,131, driven by gains in pharma, infrastructure, energy, and auto stocks. Zee Entertainment shares surged 5% after shareholders rejected CEO Punit Goenka's reappointment, while Divi's Laboratories rose 4% following a bullish report from Citi. Adani Group stocks jumped up to 20% after being included in the NSE's F&O segment, and Easy Trip Planners saw a 10% increase after announcing a 1:1 bonus share issue. Conversely, CreditAccess Grameen fell 8.5% after a downgrade from Goldman Sachs, which revised its target price significantly lower.
Goldman Sachs has downgraded CreditAccess Grameen Ltd. from 'buy' to 'sell', citing significant concerns over asset quality and a murky earnings outlook. The brokerage has set a new target price of Rs 564, indicating a potential 42% downside from the previous close, as the company faces increasing stress from over-leveraging in the industry.
goldman sachs downgrades creditaccess as healthcare outlook remains positive
Goldman Sachs has downgraded CreditAccess to a 'Sell' rating with a target price of ₹564 per share, citing concerns over earnings visibility and asset quality amid rising borrower indebtedness. Morgan Stanley maintains an 'Overweight' rating on Reliance Industries, targeting ₹1,662 per share, highlighting its strategic acquisition in U.S. helium operations and focus on low carbon solutions. Bernstein has an 'Outperform' rating for Jubilant Food, setting a target of ₹700 per share, emphasizing the need for significant growth in its Turkey business and expansion of Domino's stores in India to achieve an ₹80,000 crore market cap by FY30.
the rise and fall of microfinance lenders in india's economy
Microfinance in India faces significant challenges, with shares of major lenders like CreditAccess Grameen and Spandana Sphoorty plummeting due to rising non-performing loans. Despite the transformative impact of microloans on rural livelihoods, the sector's cyclical nature raises questions about its investability and valuation. Vikram Akula's "Micro-Meltdown" offers insights into the industry's volatility and potential for recovery.
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