India's current account deficit is expected to widen to 1.5 percent of GDP in 2017, from 0.6 percent in 2016, but net capital flows are expected to more than fund this deficit, says a Nomura report.
The Japanese financial services major said that the wider current account deficit in the second quarter and still- elevated trade deficit so far in July-August suggest that the current account deficit is set to widen sharply this year. Nomura expects current account deficit likely at 1.5 percent of GDP in 2017 but noted that funding will not be a constraint.
The current account deficit increased to USD 14.3 billion, or 2.4 percent of gross domestic product (GDP) in the April-June quarter of this year. On a sequential basis, the CAD widened from USD 3.4 billion or 0.6 percent of GDP in the January-March quarter.
Shares of Nucleus Software Exports advanced 7.7 percent intraday as it has bagged order from South African company.
Atlas Finance, a micro-finance company in South Africa, has chosen Nucleus lending analytics to help them leverage the insights provided by their data to make faster, more informed lending decisions.
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Tracking the momentum, over 90 stocks on the NSE hit fresh 52-week highs.
As much as 93 stocks on the NSE hit fresh 52-week highs which include names like Page Industries, Honeywell Auto, Britannia Industries, Bajaj Auto, Dixon Technologies, HDFC Bank, L&T, Bata India, TVS Motors, JBM Auto, HEG, and Gillette India among others.
Bank of America Merrill Lynch has maintained its buy rating on the stock, with a target price of Rs 515 as it believes new launches and change in hedging policy will aid second half of FY18.
It expects Chinese imports to improve which should aid pricing and profits.
India's current account deficit is expected to widen to 1.5 percent of GDP in 2017, from 0.6 percent in 2016, but net capital flows are expected to more than fund this deficit, says a Nomura report.
The current account deficit increased to USD 14.3 billion, or 2.4 percent of gross domestic product (GDP) in the April-June quarter of this year. On a sequential basis, the CAD widened from USD 3.4 billion or 0.6 percent of GDP in the January-March quarter.
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