Friday will be a landmark day for domestic markets, with all the listed stocks entering the professed T+1 (trading plus one day) settlement cycle. About 200 stocks, which account for more than 80 per cent of India's market capitalisation, will be settled on a next-day basis, with effect from January 27. This will evidently complete the transition to the T+1 cycle that started in February 2022 with the bottom 500 stocks in terms of market value.
Hit by Covid waves and slowdown, the Indian Railways has still not been able to return to its pre-pandemic passenger traffic, data by ministry of Railways has revealed. In February, the national transporter received 413 million ticket bookings - 43 per cent higher than the previous year, but only 61 per cent of the 675 million in February 2020. According to the statistics, that was the last time the Railways saw more than 500 million bookings in a single month.
The gross tax revenues have touched 65 per cent of the Budget estimates at Rs 17.81 lakh crore during the first eight months of the current fiscal till November, propelled by corporate and personal income tax mop-up, according to the Economic Survey 2022-23 presented in Parliament on Tuesday. The survey, authored by Chief Economic Advisor V Anantha Nageswaran, said the 'substantial reforms' in India's taxation ecosystem post-2014 and policy reforms have removed the distortionary incentives from the economy. Reforms like GST, reduction in corporate taxes, exemption of sovereign wealth funds and pension funds from taxes, and removing Dividend Distribution tax have reduced the tax burden on individuals and businesses.
The re-opening of the Chinese economy, as it moves away from its zero-Covid policy, could help stabilise commodity prices, according to some of the country's top metal companies. They view this as a positive for demand, at a time when markets such as the US and Europe have been largely weighed down by slowdown concern now. "Most of us in the metals business are hoping the Chinese economy picks up because half of any metal demand, including demand for aluminium, comes from China.
Shastri wants both Ashwin and Jadeja in Indian playing XI for WTC Final
Chennai Super Kings will be wary of Mumbai Indians, which has a superior record in Chennai and has gathered some momentum by winning their last two matches.
India's flagship payment platform, the Unified Payments Interface (UPI), ended the 2022 calendar year on a high note as the volume of transactions touched a record 7.82 billion in December, amounting to Rs 12.82 trillion, again a record high. Data released by the National Payments Corporation of India (NPCI), the umbrella body for retail digital payments in the country, showed volume of transactions in December was up 7.12 per cent compared to November, while value of transactions was up 7.73 per cent during the same period.
Rossouw determined to continue his roller-coaster ride
Prime Minister Narendra Modi on Thursday expressed confidence that Droupadi Murmu will make an "outstanding" President and said India has scripted history with a daughter from a tribal community being elected to the top post.
Four Indian quarter-milers running below 53 seconds augurs well for the country's hopes of winning six straight Asian Games gold in women's 4x400m relay since 2002.
The Indian aviation sector is on the cusp of a change as airlines look to induct a record number of aircraft. This, analysts said, will put the sector on a growth runway, though keeping it viable for only long-term investors. According to Vinit Bolinjkar, head of research at Ventura Securities, expectations of strong air traffic, coupled with low penetration, is the prime reason for a solid long-term outlook.
Stalin said one cannot and should not decide the mood of the entire country based on the results of one state elections.
Australia are on the cusp of a series victory in Sri Lanka and captain Pat Cummins believes the exposure to sub-continental conditions augurs well for their next big target of winning a Test series in India next year.
'As the Indian economy continues to expand over the next three years, mid- and small-caps should do well as they have higher exposure to the domestic economy than large-caps.'
'I will look to come back better in the next season'
Nikhat's form augurs well for India with the Olympics coming up next year.
India won four gold at the IBA Women's World Championships in a depleted field. To put things in perspective, five of the boycotting nations -- USA, Ireland, Canada, Poland and Netherlands -- had finished in the top-10 in the last two editions of the tournament.
The letter shared with the media on Saturday comes amid Maharashtra losing several big-ticket projects to neighbouring Gujarat.
Why did Karnataka's economic prosperity fail to influence the nature of electoral promises made by political parties in the run-up to the assembly elections? asks A K Bhattacharya.
Delhi Capitals still reported COVID-19 cases in their camp but the tournament chugged along.
Meanwhile, with China switching its trading partners due to geo-political issues, increased trade with South Africa for bauxite and with the US for coal is also auguring well for vessels with tonne miles going up.
Neither DC nor LSG look like outfits that give you the vibe of a champion side
Driven by inflows into Systematic Investment Plans (SIPs), the mutual fund industry's total assets under management rose to Rs 39.88 lakh crore in September from Rs 36.73 lakh crore in the year-ago period. On a monthly basis, the Assets Under Management (AUM) increased marginally from Rs 39.33 lakh crore in August. According to the latest monthly data from the Association of Mutual Funds in India (Amfi) released on Monday, the industry wide net AUM stood at Rs 38.42 lakh crore in September.
Acceleration in demand, together with marginal price hikes of about 2-3 per cent by cement companies in the October-December quarter (third quarter, or Q3) of 2022-23, may not be enough to cushion the impact of high input costs on the bottom line, reveal Bloomberg consensus estimates for the quarter. Year-on-year (YoY) net sales growth in Q3 will come in at nearly 7 per cent, shows Bloomberg data, while bottom-line growth will show a sharp decline of 25 per cent from a year ago. The earnings before interest, tax, depreciation, and amortisation (Ebitda) will likely decline by nearly 5 per cent versus a year ago, shows data.
Lower crude oil prices and a rally in domestic equities restricted the losses to some extent, forex dealers said. At the interbank foreign exchange market, the domestic currency opened weak at 79.50 per dollar.
ISRO will now conduct further testing of VELC and its eventual integration with the Aditya-L1 spacecraft, it said in a release.
'Citibank customers will migrate to the Axis Bank platform over 18 months.'
Prime Minister Narendra Modi on Monday hailed the diversity of India and said that while our talent may be restricted by language barriers, pride should be taken in the variety of languages that exist in the country.
Virk on Saturday said the state police should have been more prepared to deal with such a situation.
So which sectors are likely to do well in 2022? Should you focus on domestic economy-related sectors or export-oriented ones?
ITC Ltd on Friday reported a 23.09 per cent increase in consolidated net profit at Rs 5,070.09 crore for the third quarter ended December 2022, helped by growth momentum across its operating segments. The diversified company had posted a net profit of Rs 4,118.80 crore during the October-December quarter of the previous fiscal, ITC said in a regulatory filing. Its revenue from operations was up 3.56 per cent to Rs 19,020.65 crore during the quarter under review, as against Rs 18,365.80 crore in the corresponding period of the previous fiscal.
From the 70th minute when striker Niclas Fuellkrug was thrown into the battle, Germany simply looked more German.
Foreign portfolio investors (FPIs) pulled out as much as Rs 17,537 crore from the Indian markets in just three trading sessions of March as investors' sentiment got dented by the uncertainty triggered by the Russia-Ukraine conflict and rising crude oil prices. As per depositories data, they pulled out Rs 14,721 crore from equities, Rs 2,808 crore from debt segment and Rs 9 crore from hybrid instruments between March 2-4. This took the total net outflow to Rs 17,537 crore.
Congress chief spokesperson Randeep Surjewala accused the government of creating 'a situation' in the court that the murderer of a former prime minister was freed, and asked if the BJP supported this.
'People trust India and Indians a lot more than they trust China and the Chinese.'
The RBI on Friday retained inflation forecast for FY23 at 6.7 per cent amid uncertain price trajectory on "geopolitical shocks" and on hope that inflationary pressures would ease with pick-up in kharif sowing and supply chain improvements. In its previous monetary policy review in June, it had projected retail inflation for 2022-23 at 6.7 per cent, higher from 5.7 per cent forecast in April. The six-member Monetary Policy Committee (MPC) unanimously decided to raise the benchmark repo rate by a steep 50 basis points to 5.40 per cent with immediate effect to tame inflation while supporting growth.
The Indian team would be desperate to move on from the Mankading incident and focus on the Asia Cup.
Indian society may be more advanced than we think it is, notes Ajit Balakrishnan.
The regulatory burden is the highest on small cars, a key segment of the Indian automobile industry and having a uniform tax structure across all segments of vehicles will not augur well for the sector growth, according to Maruti Suzuki India chairman RC Bhargava. He also said India's economic growth rate could be higher if the manufacturing sector grows fast, which 'unfortunately' has remained a laggard despite the best efforts of the Narendra Modi-led government at the Centre due to implementation gaps at the ground level. "The burden of regulatory changes on the small cars is far higher than the regulatory burden on big cars and that is changing the whole market behaviour.
Spin legend Shane Warne heaped rich praise on Virat Kohli, saying he has instilled self-belief in his team and hopes that the Indian skipper continues to play for a long time as it augurs well for Test cricket.
