Markets

Inflation expectations have cooled considerably over the last three quarters, shows an RBI survey. (Naveen Kumar Saini/Mint)
Inflation expectations have cooled considerably over the last three quarters, shows an RBI survey. (Naveen Kumar Saini/Mint)

RBI MPC minutes show naysayers are worried about food and oil prices

  • The combination of rising food and crude oil prices could result in inflationary expectations rising again, RBI MPC members believe
  • There was a consensus on growth among members and future rate cuts are likely to depend on how they perceive growth slowdown

Production across vehicle categories, except three-wheelers, pared in March as sales have weakened. (Naveen Kumar Saini/Mint)
Production across vehicle categories, except three-wheelers, pared in March as sales have weakened. (Naveen Kumar Saini/Mint)

Auto sector slowdown, tech changes a double whammy for auto component firms

  • Auto component makers need to brace up for sharp production cuts in the near term, with their large customers cutting production
  • Cost pressures due to new safety and emission norms may impact profit margins of both auto and auto component firms

Investors should note that they may have built in far too high expectations from RIL. To deliver on these would be a tall order. (Naveen Kumar Saini/Mint)
Investors should note that they may have built in far too high expectations from RIL. To deliver on these would be a tall order. (Naveen Kumar Saini/Mint)

RIL Q4 results should provide a reality check for investors

  • The big drag for RIL continues to come from its refining business, where Ebit fell by 18.6% sequentially
  • Reliance Jio and Reliance Retail did relatively better, but could not make up from the refining shortfall

The Sensex fell 135.36 points, or 0.34%, to 39,140.28
Its consolidated net profit was  ₹82.2 crore in the January-March quarter of 2018
The Jet Airways crisis has resulted in huge gains for IndiGo and SpiceJet shares, but Jet Airways' own valuations suggest investors are expecting some upside. (Vipul Sharma/Mint)
The Jet Airways crisis has resulted in huge gains for IndiGo and SpiceJet shares, but Jet Airways' own valuations suggest investors are expecting some upside. (Vipul Sharma/Mint)

Jet Airways grounded but its investors’ hopes are still flying high

  • Investors are seen pinning hopes on the outcome of the bidding process for Jet Airways set to end on 10 May
  • But it seems unlikely that any buyer will cut a deal that has positive implications for existing shareholders

Govt is targeting to raise about  ₹1,500 crore from initial public offerings (IPOs) of two railway companies ( Photo: iStockphoto)
Govt is targeting to raise about 1,500 crore from initial public offerings (IPOs) of two railway companies ( Photo: iStockphoto)

Govt targets IRCTC, IRFC IPOs by Sept, to raise about 1,500 crore

  • While IRCTC IPO could fetch about 500 crore, public offering of IRCTC could garner close to 1,000 crore to the government
  • Cabinet Committee on Economic Affairs had approved listing of five railway companies — IRCON international, RITES, RVNL, IRFC and IRCTC

U.S. gold futures lost 0.2 percent to $1,274.50 an ounce. (AFP)
The rupee closed Tuesday at 69.605 per dollar, (Reuters)
The rupee closed Tuesday at 69.605 per dollar, (Reuters)

Rupee is set for a post-election hangover

  • Rupee has shown a tendency to flip directions after polls have been completed, according to a study by Edelweiss Securities Pvt
  • The month of May, when election results are usually announced, has proven to be an unfavorable one for the rupee

 (Photo: Mint)
Sensex and Nifty have hit multiple highs this month  (Shailesh Andrade/Reuters)
Sensex and Nifty have hit multiple highs this month (Shailesh Andrade/Reuters)

Sensex snaps record run, banks lead decline; Nifty holds 11,750

  • Sensex and Nifty hit new intra-day highs but could not hold on to gains
  • Apart from banking, FMCG and metal stocks also weighed

After disruptions due to the GST implementation and demonetisation, logistics firms are seeing better days. (Sarvesh Kumar Sharma/Mint)
After disruptions due to the GST implementation and demonetisation, logistics firms are seeing better days. (Sarvesh Kumar Sharma/Mint)

Logistics firms’ prospects dampen on sluggish volume growth

  • After disruptions due to GST implementation and demonetisation, logistics firms are seeing better days
  • How these firms push through the current sluggish phase should determine future course of action for investors

Pharma sales growth for the full fiscal year is a respectable 9.6%. (Sarvesh Kumar Sharma/Mint)
Crisil's research business didn't do well in the March quarter, which impacted revenues, while a forex loss hit profits. (Sarvesh Kumar Sharma/Mint)
Crisil's research business didn't do well in the March quarter, which impacted revenues, while a forex loss hit profits. (Sarvesh Kumar Sharma/Mint)

A sober March quarter for Crisil as research business continues to drag

  • The bright spot, however, was the growth in the ratings business, which posted a 13% increase in revenue
  • Crisil's research business didn't do well in the March quarter, which impacted revenues, while forex loss hit profits

The deal flow at Mindtree moderated in the three months ended 31 March, with the value of total contracts falling from earlier quarters. (Sarvesh Kumar Sharma/Mint)
The deal flow at Mindtree moderated in the three months ended 31 March, with the value of total contracts falling from earlier quarters. (Sarvesh Kumar Sharma/Mint)

Mindtree matches guidance, but lower orders may weigh on growth

  • Growth in March quarter exceeded Street estimates, underscoring strong execution
  • However order bookings dropped, stoking concerns about the focus of the management

Photo: Mint
A stake sale worth $15 billion to Saudi Aramco can knock off about a third of RIL debt. (Mint)
A stake sale worth $15 billion to Saudi Aramco can knock off about a third of RIL debt. (Mint)

For Saudi Aramco, a Reliance deal will not come cheap

  • Saudi Aramco is said to be in serious discussions to buy as much as 25% in the refining and petrochemical business of Reliance
  • A stake sale in the core business, at a desirable valuation, will free up resources for Reliance Jio and Reliance Retail

IOC hopes to buy 1.5 million tonnes of Mexican oil in 2019, compared with 1 million tonnes last year (Reuters)
IOC hopes to buy 1.5 million tonnes of Mexican oil in 2019, compared with 1 million tonnes last year (Reuters)

Indian refiners turn to OPEC, Mexico, US to make up Iran oil gap

  • State refiners have not yet placed orders for Iranian oil for May, when the current waiver expires, pending clarity from the US
  • OPEC and other producers including Russia have gradually tightened supply through 2019 to reduce a global glut