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India's GDP growth has sharply decelerated to 5.4% for the July to September period, marking a seven-quarter low and falling short of both consensus estimates and the Reserve Bank of India's 7% projection. This "growth shock" has led economists from major firms like Goldman Sachs and Barclays to revise their full-year forecasts downward, with Goldman now projecting 6% growth through March 2025. Analysts attribute the slowdown to significantly lower manufacturing growth and anticipate continued weakness in urban consumption due to reduced incomes.
Hyundai Motor India Ltd. has received a wave of buy ratings from analysts following a lackluster trading debut. The company now boasts six positive recommendations from firms including Nomura and Macquarie, while only one sell-equivalent rating has been issued by Emkay Global.
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