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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » India economic growth seen slowing to 5.2%

India economic growth seen slowing to 5.2%

4 posters

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Hanoifortune

Hanoifortune
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
NEW DELHI] India's economy probably expanded at the weakest pace last quarter since the 2009 global recession as elevated inflation and subdued investment add pressure on Prime Minister Manmohan Singh to extend a recent policy overhaul.

Gross domestic product rose 5.2 per cent in the three months to Sept 30 from a year earlier, the median of 26 estimates in a Bloomberg News survey shows ahead of a report due Nov 30. That would be the least since 3.5 per cent in January-to-March 2009.

Mr Singh's revamp to lure foreign investors has been hampered by trade and budget deficits that have hurt the rupee, whose 3.6 per cent drop versus the US dollar in the past month is the world's worst. Opposition to his push to open industries such as retail, pensions and insurance to overseas companies risks gridlock in Parliament, dimming the outlook for Asia's No. 3 economy.

"India needs to revive investment, but that will happen only when inflation and the fiscal deficit come down and reforms accelerate," said Sonal Varma, an economist at Nomura Holdings Inc in Mumbai. "Without all that, growth and the rupee may remain under pressure."

Antonym

Antonym
Vice President - Equity Analytics
Vice President - Equity Analytics
Despite that, India's BSE 200 Index has a PE Ratio of 15.61X.
And Sri Lanka's CSE All Share Index has a PE Ratio of 10.99X.

If SL's PE Ratio is to catch up with India's, the ASI would need to go to 7577. Just saying... Smile

Backstage

Backstage
Moderator
Moderator
@Antonym wrote:Despite that, India's BSE 200 Index has a PE Ratio of 15.61X.
And Sri Lanka's CSE All Share Index has a PE Ratio of 10.99X.

If SL's PE Ratio is to catch up with India's, the ASI would need to go to 7577. Just saying... Smile

The local "analyst" reports ASPI PER at 14.15X how and why do you differ at 10.99X ?
Just asking.... Smile

Thanks Hanoi for int news. saves time strapped folks like me a few precious minutes a day.

Antonym

Antonym
Vice President - Equity Analytics
Vice President - Equity Analytics
@Backstage wrote:
@Antonym wrote:Despite that, India's BSE 200 Index has a PE Ratio of 15.61X.
And Sri Lanka's CSE All Share Index has a PE Ratio of 10.99X.

If SL's PE Ratio is to catch up with India's, the ASI would need to go to 7577. Just saying... Smile

The local "analyst" reports ASPI PER at 14.15X how and why do you differ at 10.99X ?
Just asking.... Smile
@Backstage: Both PE Ratios from http://mobile.bloomberg.com/markets/stocks/world-indexes/asia-pacific/
Just quoting... Smile

Backstage

Backstage
Moderator
Moderator
@Antonym wrote:
@Backstage wrote:
@Antonym wrote:Despite that, India's BSE 200 Index has a PE Ratio of 15.61X.
And Sri Lanka's CSE All Share Index has a PE Ratio of 10.99X.

If SL's PE Ratio is to catch up with India's, the ASI would need to go to 7577. Just saying... Smile

The local "analyst" reports ASPI PER at 14.15X how and why do you differ at 10.99X ?
Just asking.... Smile
@Backstage: Both PE Ratios from http://mobile.bloomberg.com/markets/stocks/world-indexes/asia-pacific/
Just quoting... Smile

Thanks Anto, any ideas on the reasons behind this anomaly ? I have been noticing it for some time.
Just curious Smile

Arena


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Sri lanka should Trade at a higher PE ration than India since we have a bigger opportunity to double the out put than India. ( WE are too small ). And also we have a higher political risk than India.......US$ 100 b Economy is not a miracle within another 4-6 years.

Antonym

Antonym
Vice President - Equity Analytics
Vice President - Equity Analytics
As Amal rightly says, Sri Lanka has potential to grow faster than India, but the risks are also higher.

Some reasons for lower PE vis-a-vis India are:
Perceived economic mismanagement
Lack of flexibility due to adverse foreign exchange situation
Increasing interest rates
Centralization of political power
Expectations after end of war not fulfilled

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