Covid threatens to push India's growth to a 30-yr-low

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THE ECONOMIC TIMESDaily Newsletter Fri, Apr 03, 2020 | 05:26 PM IST

#Coronavirus#EconomyTracker#Whatsbuzzing

Top stories of the day Fitch slashes India growth forecast to 30-year low of 2% for FY21 Fitch Ratings has slashed India's growth forecast for FY21 to a 30-yr low of 2%, from 5.1% projected earlier.... A 24-hour race to contain an outbreak in Asia's biggest slum India gets $1 billion for its Covid fight 960 foreign Tablighi Jamaat members blacklisted Need to ease lockdown in a staggered way: PM Modi CNG, piped cooking gas price in Delhi, Noida cut RBI reduces trading hours for currency, debt mkts CERC reduces late payment fee on discom dues

Coronavirus Updates 647 positive cases from 14 states in last 2 days linked to Tablighi Jamaat The 647 cases have been reported from 14 states namely Andaman & Nicobar, Assam, Delhi, Himachal, Haryana, J&K, Jhark... ICMR gives go ahead for COVID-19 testing in labs under DBT, CSIR, DAE FM Nirmala Sitharaman donates Rs 1 lakh from salary to PM-CARES Fund to fight COVID-19 More than 30,000 doctors volunteer to join fight against COVID-19 Uttar Pradesh govt transfers lump sum pension into accounts of over 86 lakh beneficiaries

SENSEX 27590.95 -674.36 NIFTY 50 8083.80 -170.00 USD/INR 76.16 -0.52

Top Gainers NSE 11 companies (largecap) appreciated more than 5% Lupin 13.26% Rajesh Exports 12.48% More from Gainers Top Losers NSE 23 companies (largecap) price decreased more than -5% Shriram Tran Fin -16.25% Chola Inv Fin -12.74% More from Losers

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Covid fight is a balancing act for world's economies: World Bank India Chief Junaid Kamal Ahmad talked about how the coronavirus impact is different from the financial meltdown of '08, saying, "... CERT-In alerts people about fake UPI IDs seeking donations towards PM-CARES Fund ADB warns global cost of coronavirus could top $4 trillion India may post lowest growth in FY21: NR Bhanumurthy Bajaj Auto total sales down 38% in March All you need to know about making payments via UPI Indian smartphone industry may take $2 bn hit: Report Some countries are already bracing for a Covid relapse US economy to shrink at fastest rate since 1946: Report Global COVID-19 cases top 1mn, deaths cross 50,000 Airtel, Jio to continue gaining market share: Axis Cap Engineering goods' exporters feeling lockdown pinch Covid-19 would reset distances, labour market: Experts Grofers to hire 10,000 people for warehouse, delivery

More From our Partners How Tier 2 and Tier 3 cities are set to drive major business in next 5 years? FinTech Companies can achieve customer satisfaction and loyalty, by focusing on technologies such as blockchain.

Top Slideshow DRDO uses technology to fight Covid Top Video 'Sharpening axe to kill when mkt turns'

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This stock is holding up amid the gloom! Can this be a good bet?

THE ECONOMIC TIMES Fri, Apr 03, 2020 | 08:20 AM IST ET Investment Opportunities

This stock is holding up amid the gloom! Can this be a good bet? The stock has four strong 'buy', six 'buy, 4 'hold', 6 'sell' and 'strong sell' ratings. Need a $50 billion equity stabilisation fund: Vishal Kampani The crisis is unprecedented, we need a lot of innovations, says the MD of JM Financial. Given up on IRCTC? Stock may rally 100% once virus vanishes Analysts are positive IRCTC will bounce back quickly once the cloud of uncertainty lifts. S Naren says this is 'once-in-a-decade' opportunity for investors Such times have proven to be attractive for long-term equity investing opportunities: S Naren.

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Top Mutual Funds SCHEME NAME RATING 1 M(%) 6 M(%) 1 YR(%) 3 YRS(%) Axis Bluechip Fund Direct Plan-Growth -20.76 -18.46 -10.61 7.66 Axis Bluechip Fund-Growth -20.83 -18.91 -11.66 6.24 Canara Robeco Bluechip Equity Fund Direct-Growth -22.32 -17.78 -15.12 2.82 Canara Robeco Bluechip Equity Fund Regular-Growth -22.43 -18.31 -16.20 1.62 JM Large Cap Fund Direct Plan-Growth -10.81 -10.38 -10.22 1.36 FeaturedICICI Prudential Large & Mid Cap Fund Direct Plan-Growth ★★★★★ -28.56 -27.76 -30.66 -7.44 Start SIP

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4,800% returns: It's a multibagger amid market mayhem Not just that! The stock also scripted a trailblazing comeback from 52-week lows. Market rout probably past its worst now: JPMorgan Most risk assets should trade higher in the second quarter of the year. India lockdown: Surat trader finds it a blessing in disguise Jhawar is the chairman of Sebi-registered investment advisory firm Finideas Group. One fund manager buys 'every day' as market tanks on virus The fund beat its benchmark in 2019 largely because the U.S. market outperformed India.

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Those who buy into a bust and sell into boom make most money We have no doubt equities stack up as the best asset class to invest at this point. Five 'Ps' that will help determine if the market has bottomed Bulls and bears remain at loggerheads about whether risk assets have hit a bottom. The following five "Ps" may provide an answer: pandemic, production, policies, positioning and prices. Investors have fled emerging markets in record numbers since the outbreak of the coronavirus, even though central banks and governments have piled on stimulus to counter the impact of the deadly pathogen. While strategists at companies such as JPMorgan Chase & Co. have concluded that most risk assets have seen their low points, others at firms like Deutsche Bank AG say it's too early to sound the all-clear. (By Simon Flint and Matt Turner) The following charts may give an insight into the elusive turning point:

NFO (FMPs) Fund Name Category Type Open Close Min Inv   Nippon India FHF XLII - Series 5 Reg-D Debt: FMP Closed-end 03 Apr 2020 08 Apr 2020 5,000 Nippon India FHF XLII - Series 5 Reg-G Debt: FMP Closed-end 03 Apr 2020 08 Apr 2020 5,000 Nippon India FHF XLII - Series 5 Direct-G Debt: FMP Closed-end 03 Apr 2020 08 Apr 2020 5,000 Nippon India FHF XLII - Series 5 Direct-D Debt: FMP Closed-end 03 Apr 2020 08 Apr 2020 5,000 More >>

Real Estate News

Covid crisis could further delay completion of your dream home Even as the realty sector was already grappling with issues like poor demand and liquidity crisis resulting in delays in project completion, the coronavirus pandemic has made sure that the recovery in the sector isn't around the corner.

Covid-19 to reduce housing sales by 25-35%: Report In a base case, property consultant Anarock said that sales could drop 25 per cent to 1.96 lakh units this year from 2.61 lakh units in 2019 across seven major cities- Delhi-NCR, Mumbai Metropolitan Region, Kolkata, Chennai, Bengaluru, Pune and Hyderabad.

Developers using innovative ways of sale during lockdown Noida-based Gaurs Group has started a campaign, Ghar Baithe Ghar Kharido – Knockdown offer. Some like the Mahagun group have offered discount schemes. Another NCR-based developer, Migsun, charges just Rs 51,000 to book a flat.

Hot spot: Infra is the main draw of this Mumbai suburb Andheri(East) and Jogeshwari(East) is an established micro-market in Mumbai. It is located near key employment hubs. Popular malls and social spots including Phoenix Marketcity, Infiniti Mall and Inorbit Mall are situated in close proximity too.

Rate cut, moratorium to help buyers, developers manage liquidity Realty developers and Industry experts lauded key measures announced by the central bank to support the economy. However, they also stated that banks need to transmit the same soon to help boosting liquidity and potential reduction in installments. The move is also expected to help realty developers avoid default in payments and any subsequent downgrades.

NFO - Non FMPs Fund Name Category Type Open Close Min Inv   L&T Nifty 50 Index Fund Reg-D Equity: Large Cap Open-ended 24 Mar 2020 07 Apr 2020 5,000 L&T Nifty 50 Index Fund Reg-G Equity: Large Cap Open-ended 24 Mar 2020 07 Apr 2020 5,000 L&T Nifty Next 50 Index Fund Reg-D Equity: Large Cap Open-ended 24 Mar 2020 07 Apr 2020 5,000 L&T Nifty Next 50 Index Fund Reg-G Equity: Large Cap Open-ended 24 Mar 2020 07 Apr 2020 5,000 L&T Nifty 50 Index Fund Direct-D Equity: Large Cap Open-ended 24 Mar 2020 07 Apr 2020 5,000 More >>

Views and Recommendations

Buy Coal India, target price Rs 160: Edelweiss 03 April, 2020, 07:56 AM IST The brokerage said it finds Coal India attractive due to sound balance sheet and undemanding valuations. Buy Credit Suisse has outperform rating on Inter-Globe Aviation, target price Rs 1,850 03 April, 2020, 07:48 AM IST The brokerage has retained outperform rating on strong long-term growth across several parameters. Outperform Buy Axis Bank, fair value Rs 620: Kotak Institutional Equities 03 April, 2020, 07:41 AM IST The brokerage has revised its fair value to Rs 620 from Rs 740, cutting estimates by around 20-25 per cent to address its concerns. Buy Buy KNR Constructions, target price Rs 226: Kotak Securities 03 April, 2020, 07:35 AM IST The current lockdown is expected to negatively impact earnings in the near to medium term. Buy

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