Dhananjay Sinha

Dhananjay Sinha

Dhananjay Sinha, CEO and Co-Head of Institutional Equities at Systematix Group, has over 25 years of experience in macroeconomics, strategy, and equity research. A prolific writer, Dhananjay is known for his data-driven views on markets, sectors, and cycles.

Tariffs, Stimulus and Stalled Earnings Weigh on India’s Markets

India’s markets face a rough ride as tariff wars collide with weak demand, policy trade-offs and fragile corporate performance.

Dhananjay Sinha

August 25, 2025 at 3:31 AM IST

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GST Rate Cuts Can Lift Demand, But Fiscal Balancing Will Be Key

Cutting GST rates on essentials could spark a broader demand revival than past schemes, but fiscal space and state consensus will decide success.

Dhananjay Sinha

August 15, 2025 at 8:08 AM IST

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S&P Upgrade Should Open a Window for Structural Reforms

India’s S&P upgrade to BBB boosts confidence. The real gain will come if it’s used to spur investment, jobs, and trade resilience.

Dhananjay Sinha

August 14, 2025 at 4:34 PM IST

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RBI’s Growth Hopes Mask Limits of Policy Easing

Monetary Policy

The RBI’s optimism on growth belies structural weaknesses and hints that the impact of front-loaded rate cuts may already be waning.

Dhananjay Sinha

August 6, 2025 at 2:14 PM IST

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Poonam Gupta

Trump’s Stridency Pushes India Into Tougher Trade Terrain

India’s optimism for a soft landing on US tariffs may prove misplaced as oil, defence and BRICS politics deepen fault lines in talks with Washington.

Dhananjay Sinha

July 31, 2025 at 5:12 PM IST

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White House

TCS Trims Fat as AI Shift Forces Rethink of India’s IT Growth Story

TCS Job Cuts

TCS’s 12,200 job cuts spotlight AI upheaval, margin strain and fading labour-cost advantages reshaping India’s IT services model.

Dhananjay Sinha

July 30, 2025 at 3:47 AM IST

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India’s Recovery Plan Is Missing Its Fiscal Half

While the RBI has acted to support growth, the Finance Ministry’s virtual silence since the Budget leaves policy looking oddly one-handed.

Dhananjay Sinha

Kalyan Ram

July 20, 2025 at 6:52 AM IST

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Tariffs and Earnings Slowdown Threaten India’s Market Rally

Relief rally is losing steam as Trump tariffs, slowing profits, and weak policy space cast a shadow over India’s market valuations.

Dhananjay Sinha

July 15, 2025 at 2:42 AM IST

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China’s REM Squeeze Threatens India’s Auto Sector Revival

A looming rare earth magnet shortage could stall India’s EV dreams, reshape supply chains and test the push for manufacturing self-reliance.

Dhananjay Sinha

July 9, 2025 at 9:50 AM IST

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India’s Inequality Narrative Collapses Under Economic Realities

Government claims of world-leading equality are misleading, masking rising income gaps, stagnant wages, and economic backsliding.

Dhananjay Sinha

July 9, 2025 at 3:41 AM IST

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Employment Incentive Scheme Faces Limits Of Supply-Side Approach

India’s ₹1 trillion Employment Linked Incentive Scheme banks on supply-side subsidies to address rising urban joblessness.

Dhananjay Sinha

July 1, 2025 at 5:06 PM IST

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Why The Current Demand Recovery Rings Hollow 

Rural wage gains and urban spending suggest recovery, but weak incomes, falling agri prices, and policy drag limit real momentum. 

Dhananjay Sinha

June 18, 2025 at 6:24 AM IST

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RBI Frontloads Hyper Accommodation

Monetary Policy

The RBI’s frontloaded stimulus lifts markets, but its ability to revive growth is constrained by weak income, tepid investment, and global drag.

Dhananjay Sinha

June 6, 2025 at 10:38 AM IST

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GST Surge Doesn’t Mean India’s Growth Is Real

Robust tax collections are masking a more fragile consumption economy. The strength in GST collections reflects pro-cyclical fiscal tightening and an elevated tax burden on households, rather than productivity gains or higher income.

Dhananjay Sinha

June 3, 2025 at 7:46 AM IST

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India’s GDP Numbers Look Good—Too Good To Trust

The January–March data is stronger than expected, but deeper fault lines remain in consumption, private investment, and household incomes.

Dhananjay Sinha

June 1, 2025 at 12:58 PM IST

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Higher RBI Dividend Payout Now Comes With Stricter Framework

Buffer Reboot

RBI’s recalibration of its risk buffer signals a shift from rigid rules to responsive resilience—putting prudence ahead of payouts in a world of rising uncertainty.

Dhananjay Sinha

May 25, 2025 at 4:11 AM IST

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Record RBI Dividend Payouts Are A Short-Term Fix With Long-Term Risks

Another likely record dividend to the Centre may offer fiscal relief, but could undermine monetary stability and currency management in an uncertain global climate.

Dhananjay Sinha

May 22, 2025 at 4:02 AM IST

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Easing Trade Anxiety Sparks A Recovery, But Can It Last? 

Indian equities have rebounded on easing trade and geopolitical tensions, but slowing global growth and high valuations raise doubts over the future strength.

Dhananjay Sinha

May 14, 2025 at 3:39 AM IST

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Private Capex Is Faltering, And Global Fragmentation May Be To Blame

India’s first forward-looking capex survey shows a sharp fall in 2025-26 plans, exposing demand worries and rising global trade uncertainty.

Dhananjay Sinha

April 30, 2025 at 5:26 AM IST

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India’s Consumption Story Rings Hollow Amid Income Fragility

Headline growth masks an unsettling truth: weak income growth is eroding the base of India’s consumption pyramid, raising questions on sustainability.

Dhananjay Sinha

April 28, 2025 at 7:20 AM IST

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The Bureau

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