Business in the Week Ahead in India: Two new IPOs are set to open for subscription, with central government expenditure and money supply being monitored as additional data points.
India’s economy exited Q1 FY25 in June 2024 with a strong performance, as indicated by the HSBC Flash Composite PMI Output index, which increased from 60.5 in May to 60.9 in June. The growth was stronger at goods producers than service providers. The data is expected to reassure the newly formed government.
The flash PMI data will reassure the newly formed government. Economic data points will be released in the coming week, including money supply, current account deficit, spending, revenue, and budget balance data. The US central bank will release bank stress tests report.
Monday – June 24
No data
Tuesday – June 25
US Home Prices: The pace of expansion in home prices may ease in April after raising more than expected in March. The S&P CoreLogic Case-Shiller 20-city home price index rose at the fastest pace since October 2022 in March.
US Fed Official Speech: Lisa D. Cook, member of the Federal Reserve Board of Governors will deliver a speech on Economic Outlook. The US central bank left the Fed funds target range steady in June meeting.
IPO:- Allied Blenders and Distillers’ IPO is set to commence on June 25 with a fixed price range of Rs 267-281 per equity-share.
Wednesday – June 26
IPO: The public issue of Vraj Iron and Steel is scheduled to open on June 26.
IPO Listing: DEE Piping Systems and Akme Fintrade may list on stock exchanges. DEE Piping Systems offered shares in the price range of Rs 193-203 apiece in the IPO. Akme Fintrade fixed the price band at Rs 114-120 per share.
India Money Supply: The Reserve Bank of India will release the money supply data for the two weeks ending June 14. Money supply increased by 10.9 percent in the earlier fortnight.
US New Home Sales: Sales of new single-family houses are projected to rise in May after declining in April.
Thursday– June 27
Euro Area Economic Sentiment: Business morale is projected to improve in June amid rising demand. The economic sentiment indicator rose in May.
US Bank Stress Tests, Durable Goods Orders, Jobless Claims: The US central bank will release the bank stress tests report. Separately, the durable goods orders and jobless claims data will also be updated.
Friday – June 28
IPO Listing: Stanley Lifestyles may list on the stock exchanges. The company fixed a price band of Rs 351-369 per equity-share for the IPO.
India Government Spending, Current Account Deficit: The government will release the spending, revenue and budget deficit data till May 2024. Separately, the current account deficit data for the quarter ending March 2024 will be updated by the Reserve Bank of India.
US Core Price Index: The core PCE price index increased at a slowest pace so far in 2024 in April. Data for May will be updated.
Must read book about investing – check here Business in the Week Ahead in India: India’s inflation/manufacturing data, US inflation and initial jobless claims etc. in Focus.Business Business Business in the Week Ahead in India: India’s inflation and manufacturing data, along with US and Euro area data, will be released, with US inflation and initial jobless claims crucial for Federal Reserve rate cut speculation.