GST To Improve India’s Credit Profile- Moody’s Investor Services
Shital Jibhe / 02 Jun 2017
According to Moody’s Investor Services, India’s key reforms, including the impending Goods and Services Tax (GST) scheme and resolution of sticky loans, may improve the country’s credit profile.
Some key macro triggers that might affect Dalal Street today:
Manufacturing Slowdown: A private survey on Thursday revealed that manufacturing activity grew at a slower pace in May when compared to the previous month. The Nikkei India Manufacturing Purchasing Managers’ Index witnesses a three-month low of 51.6 in May from 52.5 in April.
Moody’s bullish on India: According to Moody’s Investor Services, India’s key reforms, including the impending Goods and Services Tax (GST) scheme and resolution of sticky loans, may improve the country’s credit profile.
Citigroup Sets Sensex Target at 32,200 by March 2018: As against its earlier target of 31,500 for December 2017, the Citigroup Global Markets has rolled forward its Sensex target to 32,200 by March 2018. According to the firm, the implementation of GST, foreign investors and strong flows from domestic mutual funds are positives, but a lot seems to be getting priced in with valuations at 18 times estimated FY2018 earnings.
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