Business Standard Podcast

In episode 5 of Business Standard’s podcast on politics, the Chessboard, Ankur Bhardwaj and Archis Mohan discuss the four phases of voting, the BJP’s mojo and the violent nature of politics in West Bengal Nearly all of south and west of India has voted. In the east only West Bengal has not completed polling yet. With mostly north Indian and Hindi speaking states going to vote in the coming three phases, how is the chessboard of Indian politics placed? 375 seats have now voted. Less than 200 remain and mostly in territory that was completely dominated by the ruling Bharatiya Janata Party in 2014. Has the BJP regained its mojo? West Bengal sends 42 members to the Lok Sabha. The Trinamool Congress won 34 of these. Congress party won 4. The CPM had 2 while the BJP also had 2. Voting in the state is accompanied by violence. What explains this violent streak of Bengali politics? For more on all of these questions, tune in.

In episode 5 of Business Standard’s podcast on politics, the Chessboard, Ankur Bhardwaj and Archis Mohan discuss the four phases of voting, the BJP’s mojo and the violent nature of politics in West Bengal Nearly all of south and west of India has voted. In the east only West Bengal has not completed polling yet. With mostly north Indian and Hindi speaking states going to vote in the coming three phases, how is the chessboard of Indian politics placed? 375 seats have now voted. Less than 200 remain and mostly in territory that was completely dominated by the ruling Bharatiya Janata Party in 2014. Has the BJP regained its mojo? West Bengal sends 42 members to the Lok Sabha. The Trinamool Congress won 34 of these. Congress party won 4. The CPM had 2 while the BJP also had 2. Voting in the state is accompanied by violence. What explains this violent streak of Bengali politics? For more on all of these questions, tune in.

In a first-of-its-kind initiative, the nation's largest lender State Bank Friday announced linking of its savings deposits rates and short-term loans to an external benchmark--the repo rate of the Reserve Bank. The new rates will be effective May 1, the bank said in a  statement. But the move will not benefit all its depositors as the new rate is applicable only to those with a balance of over Rs 1 lakh in their accounts. Listen to this podcast for more

In a first-of-its-kind initiative, the nation's largest lender State Bank Friday announced linking of its savings deposits rates and short-term loans to an external benchmark--the repo rate of the Reserve Bank. The new rates will be effective May 1, the bank said in a  statement. But the move will not benefit all its depositors as the new rate is applicable only to those with a balance of over Rs 1 lakh in their accounts. Listen to this podcast for more

Corporate earnings, macroeconomic data, auto sales’ numbers, and global cues will be key factors affecting market sentiment this week. Close to 149 companies, including Ambuja Cement, Concor, TVS Motors, Britannia Industries, Bandhan Bank, Dabur India, MRF, Hindustan Unilever, Tata Chemicals and Aditya Birla Capital will declare their March quarter numbers during the truncated week. Monthly auto sales’ figures, which have been muted for a couple of months now, will be released on Wednesday. Furthermore, the Reserve Bank of India (RBI) will release Monetary and Credit Information review, Federal Fiscal Deficit and Infrastructure Output report (YoY) on Tuesday. The foreign exchange reserves data, to be released on Friday will also be keenly watched by investors as foreign institutional investors (FIIs) bought shares worth Rs 4,500 crore during the past week and remained net buyers. Domestic institutional investors (DIIs), however, remained in the net sellers’ category. They sold Rs 3,675.97 crore worth of equities during the last week. Indian markets were shut on Monday, April 29, on account of 2019 Lok Sabha polls in Mumbai. They will also remain shut on Wednesday, May 1, on account of Maharashtra Day. Globally, oil slipped during early trade on Tuesday after the US pressed OPEC to cover the shortfall caused due to economic sanctions on Iran. Brent crude futures were at $71.86 per barrel at 6:33 am, down 0.3 per cent, from their last close. Rupee closed at Rs 70.01 a dollar, about 25 paise stronger, on April 26 (Friday).  US Federal Reserve's two-day policy meet, which begins today with the decision due tomorrow, will also be keenly watched by investors. Besides, China’s factory output numbers will also influence sentiment.  Asian shares fell on Tuesday as investors await US Federal Reserve policy decision. MSCI's broadest gauge of Asia-Pacific shares outside Japan was off 0.1 per cent, weighed by weakness in Korean shares which fell 0.4 per cent. During the overnight trade in the US, both S&P 500 and Nasdaq indices ended at record closing highs of 2,943.03 level and 8,161.85 level, respectively. Dow Jones Industrial Average, however, eked out a 0.04 per cent gain to end at 26,554.39 level.

Corporate earnings, macroeconomic data, auto sales’ numbers, and global cues will be key factors affecting market sentiment this week. Close to 149 companies, including Ambuja Cement, Concor, TVS Motors, Britannia Industries, Bandhan Bank, Dabur India, MRF, Hindustan Unilever, Tata Chemicals and Aditya Birla Capital will declare their March quarter numbers during the truncated week. Monthly auto sales’ figures, which have been muted for a couple of months now, will be released on Wednesday. Furthermore, the Reserve Bank of India (RBI) will release Monetary and Credit Information review, Federal Fiscal Deficit and Infrastructure Output report (YoY) on Tuesday. The foreign exchange reserves data, to be released on Friday will also be keenly watched by investors as foreign institutional investors (FIIs) bought shares worth Rs 4,500 crore during the past week and remained net buyers. Domestic institutional investors (DIIs), however, remained in the net sellers’ category. They sold Rs 3,675.97 crore worth of equities during the last week. Indian markets were shut on Monday, April 29, on account of 2019 Lok Sabha polls in Mumbai. They will also remain shut on Wednesday, May 1, on account of Maharashtra Day. Globally, oil slipped during early trade on Tuesday after the US pressed OPEC to cover the shortfall caused due to economic sanctions on Iran. Brent crude futures were at $71.86 per barrel at 6:33 am, down 0.3 per cent, from their last close. Rupee closed at Rs 70.01 a dollar, about 25 paise stronger, on April 26 (Friday).  US Federal Reserve's two-day policy meet, which begins today with the decision due tomorrow, will also be keenly watched by investors. Besides, China’s factory output numbers will also influence sentiment.  Asian shares fell on Tuesday as investors await US Federal Reserve policy decision. MSCI's broadest gauge of Asia-Pacific shares outside Japan was off 0.1 per cent, weighed by weakness in Korean shares which fell 0.4 per cent. During the overnight trade in the US, both S&P 500 and Nasdaq indices ended at record closing highs of 2,943.03 level and 8,161.85 level, respectively. Dow Jones Industrial Average, however, eked out a 0.04 per cent gain to end at 26,554.39 level.

The Trump administration had earlier  announced a new rule related to the filing of H-1B visas, asserting that it is more efficient, effective and helps in attracting the best talent in the US. In another setback for H1B visa holders in the United States, switching jobs  may lead to their immediate exit from the nation, along with a three to ten years bar on entering the US.  Listen to this podcast for more.

The Trump administration had earlier  announced a new rule related to the filing of H-1B visas, asserting that it is more efficient, effective and helps in attracting the best talent in the US. In another setback for H1B visa holders in the United States, switching jobs  may lead to their immediate exit from the nation, along with a three to ten years bar on entering the US.  Listen to this podcast for more.

A late surge in the benchmark indices, lifted by gains in financials and metals, took Sensex nearly 300 points, up almost 1 per cent, higher and Nifty beyond the 11,750-mark after a rangebound morning trade. The Sensex was up 336.47 points, or 0.87 per cent, at 39,067, with Tata Steel, ICICI Bank, Axis Bank, TCS and State Bank of India among the top gainers. 12 of the 30 constitutents ended in the red while the rest 18 finished the day in the green.  Nifty50 too registered gain in the late hours to end at 11,755, up 113 points, or 0.9 per cent. About 1,085 shares advanced, 1,410 shares declined, and 153 shares remained unchanged. On sectoral basis, only Nifty Auto, Nifty Media, and Nifty Realty indices ended in red. The biggets gainers were Nifty Metal, Nifty Bank, and Nifty Private Bank indices that rose 1.86 per cent, 1.53 per cent, and 1.46 per cent, respectively. Among broader markets, S&P BSE MidCap index slipped 66 points, or 0.44 per cent, to end at 15,064 while S&P BSE SmallCap index also closed in the red, down 25 points, or 0.17 per cent, at 14,813.38. Maruti Suzuki India shares slipped 1 per cent to Rs 6,832.15 on the BSE after the company reported a weak set of numbers for the March quarter (Q4FY19).  GHCL rose 7.25 per cnt to Rs 259 on the back of heavy volumes after the company reported a healthy 44 per cent year-on-year (YoY) growth in net profit at Rs 119 crore in the March quarter (Q4FY19).  Shares of Tata Steel rallied almost 7 per cent to Rs 545 on the BSE after the company reported a better-than-expected consolidated net profit of Rs 2,295 crore in the March quarter (Q4FY19). 

A late surge in the benchmark indices, lifted by gains in financials and metals, took Sensex nearly 300 points, up almost 1 per cent, higher and Nifty beyond the 11,750-mark after a rangebound morning trade. The Sensex was up 336.47 points, or 0.87 per cent, at 39,067, with Tata Steel, ICICI Bank, Axis Bank, TCS and State Bank of India among the top gainers. 12 of the 30 constitutents ended in the red while the rest 18 finished the day in the green.  Nifty50 too registered gain in the late hours to end at 11,755, up 113 points, or 0.9 per cent. About 1,085 shares advanced, 1,410 shares declined, and 153 shares remained unchanged. On sectoral basis, only Nifty Auto, Nifty Media, and Nifty Realty indices ended in red. The biggets gainers were Nifty Metal, Nifty Bank, and Nifty Private Bank indices that rose 1.86 per cent, 1.53 per cent, and 1.46 per cent, respectively. Among broader markets, S&P BSE MidCap index slipped 66 points, or 0.44 per cent, to end at 15,064 while S&P BSE SmallCap index also closed in the red, down 25 points, or 0.17 per cent, at 14,813.38. Maruti Suzuki India shares slipped 1 per cent to Rs 6,832.15 on the BSE after the company reported a weak set of numbers for the March quarter (Q4FY19).  GHCL rose 7.25 per cnt to Rs 259 on the back of heavy volumes after the company reported a healthy 44 per cent year-on-year (YoY) growth in net profit at Rs 119 crore in the March quarter (Q4FY19).  Shares of Tata Steel rallied almost 7 per cent to Rs 545 on the BSE after the company reported a better-than-expected consolidated net profit of Rs 2,295 crore in the March quarter (Q4FY19). 

India's largest carmaker Maruti Suzuki India (MSI) has said that it will discontinue sale of diesel cars in the country from April next year, coinciding with the transition of the automobile industry to stricter BS VI emission norms. The auto major currently gets 23 per cent of its total sales in the domestic market from diesel cars. It sold a total of 4.63 lakh diesel units last fiscal. Some of the company's models like Vitara Brezza and S-Cross currently come with a diesel engine option only. Others like Swift, Baleno, Dzire, Ciaz and Ertiga also have petrol versions in addition to the diesel trims. MSI has also decided to pull the plug on the diesel version of its light commercial vehicle Super Carry from next year. It would be only available in petrol/CNG version going ahead.   Listen to the podcast for more...

India's largest carmaker Maruti Suzuki India (MSI) has said that it will discontinue sale of diesel cars in the country from April next year, coinciding with the transition of the automobile industry to stricter BS VI emission norms. The auto major currently gets 23 per cent of its total sales in the domestic market from diesel cars. It sold a total of 4.63 lakh diesel units last fiscal. Some of the company's models like Vitara Brezza and S-Cross currently come with a diesel engine option only. Others like Swift, Baleno, Dzire, Ciaz and Ertiga also have petrol versions in addition to the diesel trims. MSI has also decided to pull the plug on the diesel version of its light commercial vehicle Super Carry from next year. It would be only available in petrol/CNG version going ahead.   Listen to the podcast for more...

A weaker rupee, soaring crude oil prices and Q4 earnings will affect the market sentiment on Friday ahead of a long weekend. About 18 companies will declare their March quarter numbers for the year 2018-19, including YES Bank, HDFC Asset Management Company, HDFC Life Insurance, Hero MotoCorp, and Piramal Enterprises. Markets remained flat for the most part of Thursday’s trading session but witnessed heavy sell-off during the last trading hour. Benchmark indices, S&P BSE Sensex and NSE Nifty50 tanked 324 points and 84 points, respectively. While the Sensex settled at 38,731 level, Nifty managed to hold above the psychological level of 11,600 to end at 11,642.  Markets will remain shut on Monday on account of Phase 4 of the 2019 Lok Sabha polls where Mumbai goes to vote. In the forex market, the rupee slipped 39 paise to close at 70.2 per dollar.   GLOBAL CUES Oil prices, which touched $75 per barrel in the intra-day trade on Thursday, dipped in the early trade on Friday on the expectation of higher supply by Organization of Petroleum Exporting Countries (OPEC) countries to offset curb on Iran export. Brent crude futures were at $74.00 per barrel at 6:45 am, or 0.4 per cent, from their last close.   Asian shares got off to a subdued start ahead of the release of US’ GDP numbers, due later in the day. Moreover, the Bank of Japan (BoJ) held its monetary policy steady at a rate review on Thursday and said its super-low rates will last another year.  MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.1 per cent. In the overnight trade, US stocks ended mixed. The Dow Jones Industrial Average lost 135 points to close at 26,462, while the S&P500 slipped 1 point to end at 2,926 level. Nasdaq gained 17 points to settle at 8,119 level.

A weaker rupee, soaring crude oil prices and Q4 earnings will affect the market sentiment on Friday ahead of a long weekend. About 18 companies will declare their March quarter numbers for the year 2018-19, including YES Bank, HDFC Asset Management Company, HDFC Life Insurance, Hero MotoCorp, and Piramal Enterprises. Markets remained flat for the most part of Thursday’s trading session but witnessed heavy sell-off during the last trading hour. Benchmark indices, S&P BSE Sensex and NSE Nifty50 tanked 324 points and 84 points, respectively. While the Sensex settled at 38,731 level, Nifty managed to hold above the psychological level of 11,600 to end at 11,642.  Markets will remain shut on Monday on account of Phase 4 of the 2019 Lok Sabha polls where Mumbai goes to vote. In the forex market, the rupee slipped 39 paise to close at 70.2 per dollar.   GLOBAL CUES Oil prices, which touched $75 per barrel in the intra-day trade on Thursday, dipped in the early trade on Friday on the expectation of higher supply by Organization of Petroleum Exporting Countries (OPEC) countries to offset curb on Iran export. Brent crude futures were at $74.00 per barrel at 6:45 am, or 0.4 per cent, from their last close.   Asian shares got off to a subdued start ahead of the release of US’ GDP numbers, due later in the day. Moreover, the Bank of Japan (BoJ) held its monetary policy steady at a rate review on Thursday and said its super-low rates will last another year.  MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.1 per cent. In the overnight trade, US stocks ended mixed. The Dow Jones Industrial Average lost 135 points to close at 26,462, while the S&P500 slipped 1 point to end at 2,926 level. Nasdaq gained 17 points to settle at 8,119 level.

Benchmark indices ended Thursday's session in the red, led by losses in financials and metal stocks, after witnessing a sharp last hour sell-off on March series futures & options contracts while brent oil hit $75 per barrel for the first time in 2019. Brent oil rose above $75 per barrel as quality concerns forced the suspension of some Russian crude exports to Europe while the United States prepared to tighten sanctions on Iran. The BSE Sensex ended the day 324 points, or 0.83 per cent lower, with Tata Steel, Vedanta, Maruti Suzuki, State Bank of India and Coal India being the top losers. Nifty50, too, pared gains to finish at 11,642, down 84 points, or 0.72 per cent. The market breadth remained in favour of sellers with 963 stocks declining and 777 shares advancing on the NSE.    Among sectoral indices, only Nifty Realty index ended in the green, with Nifty Metal index ending 1.86 per cent lower. The Nifty PSU Bank index also declined 1.56 per cent. In broader market, the S&P BSE Midcap index fell 88 points, or 0.58 per cent, to 15,130, and the S&P BSE Smallcap index dropped 8 points, or 0.05 per cent, to 14,839. UltraTech Cement shares hit 52-week high of Rs 4,510, up 3 per cent, in early morning trade on Thursday, and have surged 7 per cent in the past two trading days on the BSE, after the company reported strong performance in the March quarter (Q4FY19). Six companies - Reliance Industries (RIL), HCL Technologies, Titan Company, Bajaj Finserv, UltraTech Cement, and UPL - from the Nifty50 index hit their respective fresh record highs on the National Stock Exchange (NSE) on Thursday.    Shares of sugar companies rallied up to 12 per cent on the BSE in early morning deal on the back of heavy volumes on hopes that sweetener output may fall in 2019-20 due to low rains.