24 April, 2014 19:36 IST
News
CAD to remain elevated in Q3; may improve in Q4: Edelweiss
Source: IRIS (01-JAN-13)
Comments  |  Post Comment

Balance of payment (BoP) situation was broadly neutral during Q2FY13 as the widening current account deficit (CAD) was offset by adequate improvement in capital inflows. CAD widened to approx. USD 22.4 billion, an allā€time high of 5.4% of GDP versus 3.9% previously, mainly on account of sharp weakness in merchandise exports and steady imports.

Commenting on the outlook, Edelweiss Securities said, "In the coming quarter (Q3), CAD is expected to remain elevated as export slowdown continued and gold imports picked up. However, we do foresee improvement in Q4 as improving external demand helps exports and as gold imports normalize after seasonal uptick. Given these trends, we are revising our FY13 CAD estimate to approx. USD 74 billion (4% of GDP) compared to approx. USD 65 billion (approx. 3.3% of GDP) estimated earlier."

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.


News
Tata Metaliks loss narrows in Jan-Mar quarter - 24-Apr-2014 16:32
Granules India standalone quarterly net up 13.26% - 24-Apr-2014 16:29
ACC standalone quarterly net declines 8.9% - 24-Apr-2014 15:42
Oil Country Tubular standalone quarterly earnings soar 65.48 times - 24-Apr-2014 15:36
Bharti Infratel standalone quarterly net surges 40.64% - 24-Apr-2014 15:30
Infotech Enterprises standalone quarterly earnings rise 28.81% - 24-Apr-2014 15:22
UltraTech Cement standalone quarterly net climbs 15.40% - 23-Apr-2014 18:38
Indiabulls Wholesale Services standalone quarterly net falls 35.05% - 23-Apr-2014 18:36
Kirloskar Pneumatic Company standalone quarterly earnings rise 18.78% - 23-Apr-2014 18:32
Indbank Merchant Banking Services swings to profit in Jan-Mar quarter - 23-Apr-2014 18:23
Sabero Organics Gujarat standalone quarterly net declines 27.22% - 23-Apr-2014 17:32
more...
* Q - Quote , N - News , C - Chart , F - Financials
Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type   6mdmv8 into this box
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Forums  |   E-mail  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer