Friday, January 06, 2012
* Finance Minister Pranab Mukherjee is scheduled to speak at a function organized by
Institute of Chartered Accountants ofIndia in Chennai. He is also speaking at the Indian
OverseasBank’s Platinum Jubilee function.
LIC Housing Finance, battered by corruption over a year ago, is leaning on its parent’s 1.5mn agents and chasing middle-class customers to revive growth and erase the blot. (ET)
Nestle India announced the launch of one of its global programmes, Nescafe Plan, to support coffee farmers and help it optimize its coffee supply chain. (ET)
Maruti Suzuki plans to launch at least four cars in 2012 across different segments to shrug off a forgettable 2011 and regain market share that dipped below 40% this fiscal. (ET)
Almost a year after acquiring South Korean SUV maker, Ssangyong Motor Company, Mahindra & Mahindra is planning to set up assembly plants in emerging markets of the world. (ET)
A likely impossibility is always preferable to an unconvincing possibility. - Aristotle.
Possibilities of sustaining higher levels remain unconvincing. Food inflation may be in the negative zone now, but that’s partly due to the base effect. Interest rate cycle appears to have peaked but a weak Rupee and stubbornly high crude are delaying the reversal in the RBI’s hawkish monetary policy. It is a question of when and not if as far rate cuts by the RBI is concerned.
The impending shift in the central bank's policy stance could act like a tonic for the markets in the short-term. But, that won’t be enough to revive economic growth. The Government must find a way out of the current mess and rollout important reforms. Even a declaration of intent should be suffice for now.
Concerns over Europe’s debt crisis is deepening, overshadowing improving economic data in the US. The opening is expected to be in the red zone.
Headlines for the day
SBI classifies its Kingfisher Airlines exposure as NPA
RBI tweaks overseas borrowing norms to aid India Inc
Maruti to develop global products with parent Suzuki
M&M to debut Ssangyong products around Diwali
Tata Motors nixes D-segment plans
SREI to raise Rs 300 cr via tax-saving bonds in first tranche