'India did not surrender. That was why he wanted to pressurise India by this 25% tariffs.'
From the 30-share pack, Hindustan Unilever, Tata Motors, Axis Bank, Nestle India, Asian Paints, ITC, Reliance Industries, Mahindra & Mahindra, IndusInd Bank and State Bank of India were among the laggards. Larsen & Toubro, Tata Steel, JSW Steel, HDFC Bank, Adani Ports, Kotak Mahindra Bank, Bharti Airtel and PowerGrid were among the gainers.
Despite some sluggishness during 2009-10, the growth was largely on track during 2008-09 to 2012-13.
Finance Minister P Chidambaram on Monday refused to sing the requiem for industrial growth, which was poor in September, and said that industry and services sectors would actually grow close to 10 per cent this fiscal.Chidambaram said during April-September there was only a slight deceleration in IIP growth. The index grew by 9.2 per cent in the six month period compared to 11.1 per cent in the corresponding period last year.
Enthused by higher than expected GDP numbers in the fourth quarter of 2022-23, Chief Economic Adviser (CEA) V Anantha Nageswaran on Wednesday said India's economic growth may exceed the initial estimate of 6.5 per cent in the current fiscal and the country can look for another year of solid economic performance.
Despite rising interest rates, and high inflation, the banking sector is doing well, on the back of a recovering economy. The last couple of quarters indicate credit demand is picking up and Return on Assets (RoA) is more than acceptable at the moment. The PSU bank pack may be more interesting at the moment simply due to being valued at far lower multiples than the private banks.
IT major TCS is planning to revamp the organisation structure to align with customers more closely, as it aims to achieve $50 billion (about Rs 3.89 lakh crore) revenue by 2030, a source aware of the development said on Tuesday. The company had garnered $25 billion in revenue in 2021. "TCS has now charted its roadmap and long-term strategy to reach the next $25 billion revenue. "It aims to get to $50 billion by the close of the decade," the source told PTI.
IT major Tata Consultancy Services (TCS) has made changes to its leadership roles in North America. As part of the changes Suresh Muthuswami has been elevated to the role of chairman, North America, said sources in the know. This is one of the most significant leadership changes the company has announced for the region. The reason for the changes in the North American region, the largest in terms of revenue for TCS, is because Surya Kant who has been at the helm of North America for the past 16 years is stepping down by the end of the fiscal year, as he retires.
In yet another move to close the regulatory gap between banks and shadow banks, the Reserve Bank of India (RBI) has mandated exposure limits to the non-banking finance companies, in line with commercial banks. In the large exposure framework released on Tuesday, the regulator capped aggregrate exposure of NBFCs which are in the upper layer toward one entity at 20 per cent of capital base. The limit can only be extended by another 5% with board's approval. For a particular borrower group, the cap is at 25 per cent, with additional 10 per cent if exposure is towards infrastructure.
The Bengaluru-based company had registered a net profit (after minority interest) of Rs 5,197 crore a year ago, a regulatory filing said. Infosys' revenue grew 22.9 per cent to Rs 31,867 crore in the quarter ended December 2021 from Rs 25,927 crore in the year-ago period, it added.
The Palaniswami government is expected to utilise the Rangarajan Committee's recommendations before the 2021 assembly election.
As India emerges from the COVID-19 crisis, the ninth budget under the Modi government, including an interim one, is widely expected to focus on boosting spending on job creation and rural development, generous allocations for development schemes, putting more money in the hands of the average taxpayer and easing rules to attract foreign investments.
Of the seven surveys presented under Modi govt, predictions of three were quite close to the actual GDP growth rate, one saw the base year change in between, but the last three were way off the mark.
'The current economic contraction is certainly due to the lockdowns as a response to the pandemic, which is an act of God.' 'Nobody has seen such a thing in the last 100 years.' 'Saying that this was an act of mismanagement is largely incorrect'
Hitting out at previous governments, he said they did not care for the people with disabilities but his dispensation was thinking about their problems and finding ways to reduce their issues.
Prof B Ravishankar from Mylapore, Chennai shares his inspiring story.
True sustainable growth can come only through an increase in productivity, and such increases can happen only through innovations, technical and organisational, in all sectors of the economy - industry, services and agriculture, writes Ajit Balakrishnan.
The Centre also overruled financial advisers' recommendations for making payments through an escrow account, an important safeguard in the absence of a sovereign or bank guarantee, The Hindu has reported.
'There has been far too much overconfidence about the size and composition of the Indian consumer economy,' notes Mihir S Sharma.
Tata Projects (Hyderabad), Tractebel Engineers and Constructors Pvt Ltd (New Delhi), Germanischer Lloyd Industrial Services (Mumbai) and Bureau Veritas (India), Pvt Ltd (Mumbai) are among the 13 agencies which will perform technical audit of city gas projects.
India's GDP is expected to grow at 9.2 per cent in FY11 on the back of spurt in economic activities, Centre of Monitoring Indian Economy (CMIE) said in its monthly review.
India's central bank has however, forecast an 8.2 per cent economic growth in FY 11.
Rediff.com does a quick checklist on what the two manifestos have to say on hot-button issues of the day.
As attempts are stepped up to "steamroll" World Trade Organization (WTO) members to agree to a package of commitments in the Doha trade negotiations by Wednesday, it's time to assess what India is going to secure in agriculture, market-opening for industrials, services and other areas.
A cross-country comparison shows that India currently has the lowest number of taxpayers.
Painting a rosy picture of the Indian economy, which has posted a phenomenal 8.9 per cent growth in the third quarter of 2003-04, Union Finance Minister Jaswant Singh on Friday
The Indian biotechnology sector is poised for an exponential growth and would garner a global market share of 10 per cent in the next five years from the present one per cent.
Private domestic airline, Jet Airways said on Wednesday that it has tied up with travel industry service provider, Amadeus India to provide automated ticketing solutions to travel agents.\n\n\n\n
Leading software outsourcing firm Cognizant Technology on Tuesday reported a 15.4 per cent rise in net profit at $319.6 million in the quarter to September driven by a strong ramp up in demand for outsourcing services, up from $276.9 million a year ago.
Housing sector to benefit from Budget.
Double decker flyovers, developing the National Capital Region as a Common Economic Zone and a unified command for governance of Delhi are some of the promises made by ruling Congress on Wednesday in its assembly election manifesto.
The premium on insurance policies will get costlier by 3 per cent to 7 per cent, depending upon the rate fixed by the GST Council from April 1, 2017, says Harjot Singh Narula.
In recent past, midcap stocks have performed well, say experts.
Smaller cities like Pune and Noida score better than 'Vibrant' Gujarat's Ahmedabad.
The days of political elite have ended with the advent of new politics and new media. Today every citizen is a politician, social worker and an intellectual, says Ram Madhav, BJP national general secretary.
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