Recent data, including some better-than-expected corporate results in the three months ended 30 September, may indicate that the economy is turning the corner, say economists. Meanwhile, the government’s huge bank recapitalisation drive is boosting investor sentiment.
The two — the second was announced only on Tuesday — are dispelling the sense of gloom that set in after economic growth decelerated to 5.7% in the quarter to June — the slowest pace in three years.
On Thursday, the BSE’s benchmark Sensex extended the lifetime high it hit the previous day, gaining 0.32% to 33,147.13 points.
Hindustan Unilever Ltd (HUL), India’s biggest maker of packaged consumer goods and a good measure for consumption demand in the economy, beat analysts’ expectations on Wedn
Read Original :Quarterly results, new data show economy could be turning around