6.5%: S&P raises FY26 GDP forecast
NEW DELHI: Ratings agency S&P on Tuesday raised India's GDP growth forecast to 6.5% for 2025-26 from earlier 6.3%, assuming a normal monsoon, lower crude oil prices, income-tax concessions, and monetary easing.
Upgrade in growth projections comes against backdrop of global uncertainties and geopolitical tensions. For next year, the agency forecast GDP growth at 6.7%, and in 2027-28, it projected the economy to grow by 7%.
Several agencies in recent days trimmed India's growth forecast, citing global uncertainties. India's economy remained resilient against backdrop of stiff challenges, thanks to robust domestic demand. tnn
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Standard
16 minutes ago
- Business Standard
Indices trade higher; IT shares rally
The domestic equity indices traded with modest gains in the early afternoon trade, tracking a global rally as tensions in West Asia eased after a fragile Israel-Iran ceasefire. The Nifty traded above 25,200 level. IT shares witnessed buying demand for the second consecutive trading session. At 12:30 ST, the barometer index, the S&P BSE Sensex jumped 557.64 points or 0.68% to 82,639.40. The Nifty 50 index rallied 162.80 points or 0.65% to 25,206.55. In the broader market, the S&P BSE Mid-Cap index rose 0.33% and the S&P BSE Small-Cap index added 1.30%. The market breadth was strong. On the BSE, 2,615 shares rose and 1,385 shares fell. A total of 175 shares were unchanged. Derivatives: The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, declined 3.07% to 13.22. The Nifty 26 Jun 2025 futures were trading at 25,226, at a premium of 19.45 points as compared with the spot at 25,206.55. The Nifty option chain for the 26 June 2025 expiry showed a maximum call OI of 149.5 lakh contracts at the 26,000 strike price. Maximum put OI of 133 lakh contracts was seen at the 25,000 strike price. Buzzing Index: The Nifty IT index jumped 1.22% to 38,888.30. The index added 1.23% in two consecutive trading sessions. Mphasis (up 2.09%), LTIMindtree (up 1.63%), Tech Mahindra (up 1.58%), Infosys (up 1.45%) HCL Technologies (up 1.05%), Coforge (up 1.05%), Wipro (up 0.89%), Tata Consultancy Services (up 0.5%), Oracle Financial Services Software (up 0.33%) and Persistent Systems (up 0.18%) advanced.
Business Standard
31 minutes ago
- Business Standard
Concord Biotech edges higher on value buying; trades above 100-day SMA
Concord Biotech advanced 1.56% to Rs 1808.55 as value buying emerged at lower level. The scrip had declined 15.63% in seven sessions to end at Rs 1,780.75 yesterday, from its recent closing high of Rs 2,110.55 recorded on 13 June 2025. On a year-to-date (YTD) basis, the stock has fallen by 15.13% while the S&P BSE Sensex and the S&P BSE 500 index have gained 5.10% and 3.15%, respectively. On the technical front, the stocks RSI (14) was currently at 47.428. An RSI reading of 70 or above indicates an overbought condition. A reading of 30 or below indicates an oversold condition. On the daily chart, the scrip is trading below its 10-day and 20-day simple moving averages (SMAs) placed at 1959.50 and 1928.23, respectively. It is, however, trading above 100-day SMA positioned at 1750.69. In a regulatory filing made yesterday, Concord Biotech said that it has received an establishment inspection report (EIR) from the US Food and Drug Administration (US FDA) for the inspection carried out by them at its API facility at Dholka from 28 April 2025 till 2 May 2025. It further said that the USFDA has officially concluded its inspection, which is now closed under 21 CFR 20.64(d)(3). "This closure indicates that no regulatory action is required, and the facility is permitted to continue its operations without any restrictions, Concord Biotech stated. Concord Biotech is involved in manufacturing fermentation and semi-synthetic biopharmaceutical APIs with immunosuppressants as its key therapeutic segment.
Business Standard
31 minutes ago
- Business Standard
Benchmarks trade with strong gains; consumer durables shares rally for 4th day
The key equity indices traded with impressive gains in the mid-morning trade, tracking a global rally as tensions in West Asia eased after a fragile Israel-Iran ceasefire. The Nifty traded above the 25,200 level. Consumer durables shares extended their gains for the fourth consecutive trading session. At 11:30 ST, the barometer index, the S&P BSE Sensex, soared 584.01 points or 0.72% to 82,652.92. The Nifty 50 index advanced 168.85 points or 0.67% to 25,214.55. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index rose 0.53% and the S&P BSE Small-Cap index added 1.30%. The market breadth was strong. On the BSE, 2,729 shares rose and 989 shares fell. A total of 184 shares were unchanged. IPO Update: The initial public offer (IPO) of Globe Civil Projects received bids for 11,16,71,961 shares as against 1,17,32,392 shares on offer, according to stock exchange data at 11:25 IST on Wednesday (25 June 2025). The issue was subscribed 9.52 times. The issue opened for bidding on Tuesday (24 June 2025) and it will close on Thursday (26 June 2025). The price band of the IPO is fixed between Rs 67 and 71 per share. An investor can bid for a minimum of 10 equity shares and in multiples thereof. The initial public offer (IPO) of Ellenbarrie Industrial Gases received bids for 20,69,558 shares as against 1,51,08,983 shares on offer, according to stock exchange data at 11:18 IST on Wednesday (25 June 2025). The issue was subscribed 0.14 times. The issue opened for bidding Tuesday (24 June 2025) and it will close on Thursday (26 June 2025). The price band of the IPO is fixed between Rs 380 and 400 per share. An investor can bid for a minimum of 37 equity shares and in multiples thereof. The initial public offer (IPO) of Kalpataru received bids for 29,81,448 shares as against 2,28,26,516 shares on offer, according to stock exchange data at 11:20 IST on Wednesday (25 2025). The issue was subscribed 0.13 times. The issue opened for bidding on Tuesday (24 June 2025) and it will close on Thursday (26 June 2025). The price band of the IPO is fixed between Rs 387 and 414 per share. An investor can bid for a minimum of 38 equity shares and in multiples thereof. The initial public offer (IPO) of HDB Financial Services received bids for 1,41,72,540 shares as against 13,04,42,855 shares on offer, according to stock exchange data at 11:25 IST on Wednesday (25 June 2025). The issue was subscribed 0.11 times. The issue opened for bidding on Wednesday (25 June 2025) and it will close on Friday (27 June 2025). The price band of the IPO is fixed between Rs 700 and 740 per share. An investor can bid for a minimum of 20 equity shares and in multiples thereof. The initial public offer (IPO) of Sambhv Steel Tubes received bids for 52,62,166 shares as against 4,92,06,100 shares on offer, according to stock exchange data at 11:25 IST on Wednesday (25 June 2025). The issue was subscribed 0.11 times. The issue opened for bidding Wednesday (25 June 2025) and it will close on Friday (227 June 2025). The price band of the IPO is fixed between Rs 77 and 82 per share. An investor can bid for a minimum of 182 equity shares and in multiples thereof. Buzzing Index: The Nifty Consumer Durables index added 1.02% to 37,836.55. The index jumped 3.21% in the four trading sessions. Titan Company (up 2.75%), Kalyan Jewellers India (up 2.56%), V-Guard Industries (up 2.18%), Century Plyboards (India) (up 1.43%), Amber Enterprises India (up 1.05%), Bata India (up 0.81%), Havells India (up 0.8%), Crompton Greaves Consumer Electricals (up 0.57%), PG Electroplast (up 0.33%) and Blue Star (up 0.23%) added. On the other hand, Dixon Technologies (India) (down 2.57%), Kajaria Ceramics (down 1.13%) and Whirlpool of India (down 0.33%) edged lower. Stocks in Spotlight: JB Chemicals & Pharmaceuticals rose 0.67%. The company has received approval from United States Food and Drug Administration (US FDA) for its Abbreviated New Drug Application (ANDA), Amitriptyline Hydrochloride tablets. Rashtriya Chemicals & Fertilizers (RCF) added 1.25% after the companys board approved raising non convertible debentures (NCDs) worth Rs 300 crore on private placement basis. Hindalco Industries rose 0.25%. The company has announced the acquisition of 100% equity stake in US-based AluChem Companies for an enterprise value of $125 million. The acquisition will be carried out through Aditya Holdings LLC, a stepdown wholly owned subsidiary of Hindalco. Global Markets: Asian shares traded higher on Wednesday, as investors digested news of a potential ceasefire between Israel and Iran alongside fresh signals from the U.S. Federal Reserve. Optimism is building around a U.S.-brokered truce, with President Donald Trump reportedly playing a key role in facilitating the agreement. On Wall Street, sentiment was upbeat overnight. All three major indices ended higher, buoyed by easing geopolitical tensions and dovish hints from the Fed. The Dow Jones Industrial Average rose 1.19%, the S&P 500 added 1.11%, and the tech-heavy Nasdaq climbed 1.43%. Fed Chair Jerome Powell, speaking Tuesday, struck a cautious but calm tone. He reaffirmed the central banks focus on curbing inflation but noted that policymakers were in no rush to tweak rates. Powell said the Fed was well positioned to wait to learn more about the likely course of the economy before making any moves, especially as the impact of tariffs on pricing remains uncertain.
