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.

India’s Currency Conundrum: Why the Rupee’s Path to 100 Looks Unavoidable

Despite rapid growth, India’s currency continues to weaken. That divergence is structural, not cyclical, and it points to a faster depreciation cycle ahead.

Dhananjay Sinha

December 16, 2025 at 10:20 AM IST

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RBI’s Dovish Turn Clouds the Story of India’s Goldilocks Economy

Monetary Policy

Accommodative push contrasts with claims of strong growth and benign inflation

Dhananjay Sinha

December 5, 2025 at 3:27 PM IST

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The Blazing Growth Print India Simply Doesn’t Feel

A headline GDP surge paints an 8% economy, yet earnings, credit, demand and the rupee all tell a softer story.

Dhananjay Sinha

December 1, 2025 at 4:18 AM IST

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India Inc’s H2 Optimism Meets Relentless Data Headwinds

Analysts expect a sharp revival, but earnings, demand indicators and trade dynamics continue to signal caution in an economy still struggling for momentum.

Dhananjay Sinha

November 21, 2025 at 7:59 AM IST

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Global Fragmentation Demands New Thinking in Delhi

India’s response to global fragmentation must move beyond fiscal comfort and self-reliance slogans to tackle its chronic private-investment inertia.

Dhananjay Sinha

November 3, 2025 at 8:50 AM IST

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Finance Ministry

RBI’s External Confidence Masks India’s Domestic Weakness

India’s policy resilience is impressive, but ignoring faltering domestic engines like jobs, demand, and savings could prove costly.

Dhananjay Sinha

October 30, 2025 at 12:59 PM IST

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Gold’s Glow Can’t Revive India’s Spending

Surging gold prices have inflated household wealth on paper, yet the wealth effect remains mostly notional as weak incomes and high debt restrain spending.

Dhananjay Sinha

October 27, 2025 at 9:41 AM IST

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RBI’s Insulated Optimism Jars with Ground Reality

Monetary Policy

The central bank’s upbeat narrative of resilience overlooks stagnant earnings, weak credit demand, and intensifying global risks.

Dhananjay Sinha

October 1, 2025 at 11:39 AM IST

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How Post-COVID Tailwinds Triggered H-1B Pushback; Is Macro Reset the Answer?

The post-pandemic export surge drew US fire on visas. With services under pressure, India’s answer cannot be piecemeal—it must be a macro-level reset.

Dhananjay Sinha

September 21, 2025 at 3:28 PM IST

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India’s Households Signal Fragile Revival, Rural Tilt

Disinflation and policy support have created space, but without robust income growth the festive-season boost may fall short.

Dhananjay Sinha

September 16, 2025 at 7:53 AM IST

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GST Reset Seeks Equity and Growth Amid Fiscal Knot

India’s GST overhaul shifts the burden from households to luxury and sin goods, but revenue losses raise questions over fiscal sustainability.

Dhananjay Sinha

September 4, 2025 at 3:26 AM IST

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Finance Ministry

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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