'There was trust, but perhaps there was also this apprehension that given the supreme post of prime minister, Sonia Gandhi felt her authority may be a challenged.'
Corporate India's net profit as a percentage of gross domestic product (GDP) dipped in the 2022-23 financial year (FY23) -- after rebounding sharply in FY22 -- amid a decline in global commodity prices. Top 500 companies' combined net profit stood at 4.1 per cent of the GDP for FY23, down from 4.3 per cent in the previous financial year when it had gone up from just 3.5 per cent in FY21. "The year-on-year (YoY) decline was led by global commodities, which contributed adversely to the ratio, while the financial sector contributed positively.
The bill seeks to reserve one-third of all seats for women in the Lok Sabha and the state legislative assemblies.
The continuing global uncertainity has complicated the fight against inflation, opined Reserve Bank Deputy Governor Michael Debabrata Patra during the Monetary Policy Committee meeting held on February 8. According to the minutes of the MPC meeting released on Wednesday, RBI Governor Shaktikanta Das also mentioned that there is considerable uncertainty due to a host of global factors such as rising non-oil commodity prices. The RBI on February 8 hiked the key short-term lending rate by 25 basis points to 6.5 per cent, citing sticky core inflation.
Analysts remain selective on cement stocks amid the likely government's capex push ahead of the scheduled general elections in May 2024. While UBS has initiated coverage on the Indian cement sector with an anti-consensus negative view and suggests investors sell select cement stocks on a rally, those at Nomura remain selectively bullish on the sector and prefer companies with large brownfield optionality and multi-region presence. In the near-term, UBS expects strong earnings of cement companies in the next two quarters to be driven by robust demand and margin tailwinds, but suggests any sharp uptick in stock prices could offer a good opportunity for booking profits in the related counters.
In a statement, Gandhi said several esteemed leaders of the Opposition have done him the honour of thinking of him for the opposition's candidature in the upcoming elections for the presidency.
An aggressive rate hike by the US Fed and the possibility of a recession can trigger a slide in these stocks, which will be a good opportunity to buy from a long-term perspective.
'...a more capable State -- one that operates with greater capacity, greater efficiency, and greater clarity of purpose.' 'But I also see a more despotic State -- one that places more constraints on speech, assembly, dissent, and critique.' 'It may run 'better', but on the regime's rules.'
'I had serious doubts that my statement on video may not have been recorded in entirety or may have been altered in an attempt to protect the accused and thus I requested for a copy of the video recording. However members of the oversight committee flatly turned down my request.'
India and the US on Monday committed to further improving bilateral ties, exploring alternate mechanisms for funding renewable energy and actively pursuing the G20 agenda which includes strengthening MDBs and taking coordinated action to deal with climate change. Several issues, including climate action, rising indebtedness in low and middle income countries and digital public infrastructure, figured during a bilateral meeting between Finance Minister Nirmala Sitharaman and US Treasury Secretary Janet Yellen held on the sidelines of the G20 meeting of Finance Ministers and Central Bank Governors. India, Sitharaman said, will "look forward to furthering ... bilateral interests through development cooperation and new investment opportunities through Alternate Investment platforms for renewable energy."
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
The top court also dealt in detail with the legal principle on dying declaration and its trustworthiness on the presumption that a person on death bead does not lie.
The Law Commission had on June 14 invited views from all stakeholders, including people and recognised religious organisations, on the politically sensitive issue.
'The government has been anti our civilisational values.' 'My fear would be that they erode that some more to have their way and to consolidate their power.'
The session is likely to be held in the old parliament building as the construction of the new building may stretch till the end of the year, the sources said.
The contest for the post will then be likely to be between Kharge, Digvijaya Singh and Shashi Tharoor.
On Tuesday, Union Home Minister Amit Shah exuded confidence that the BJP would win the 2024 Lok Sabha elections by an even bigger majority.
The women's reservation bill is back in focus ahead of Parliament's winter session, with several opposition parties, including the Janata Dal-United, which had once opposed the move, demanding that it be introduced and passed in this session.
The government on Tuesday introduced a constitutional amendment bill reserving 33 per cent seats for women in the Lok Sabha and state assemblies, reviving a proposal pending for years and blending history, politics and societal imperatives on the first day in the new Parliament building.
Jeeva (48) was shot dead on the premises of a Lucknow court on Wednesday, police said. A policeman and a two-year-old girl were injured in the incident.
Modi also invoked Mahatma Gandhi and Buddha to urge the delegates to draw inspiration from India's civilisational ethos and "focus not on what divides us, but on what unites us."
While the BJP and the Congress have always supported the bill, opposition by other parties and demands from some for quota for backward classes within the women's quota have been key sticking points.
'And how we can take Indian cricket forward, that's the only aim anybody should have.'
India is unlikely to join the ongoing negotiations for a plurilateral deal on e-commerce at the World Trade Organization (WTO), notwithstanding a change in stance on data localisation and cross-border flow of data. Under the new draft digital personal data protection (DPDP) Bill, put out on Friday for public consultation, the government has proposed free cross-border flow of data with 'friendly' nations, significantly easing its earlier stance on data localisation. India has so far stayed out of a group of 87 countries, including the US, European Union, China, and Japan that are negotiating trade-related aspects on e-commerce since December 2017.
In his opening remarks at the G20 Leaders' Summit at the Bharat Mandapam in New Delhi, Modi said the 21st century is a time of giving new direction to the world.
Rebalance your portfolio in case it has become overweight on equities vis-a-vis your strategic asset allocation.
IT major Accenture's second straight cut in its revenue growth forecast for FY23 suggests there is more pain ahead for the Indian IT sector, say analysts. Accenture has lowered the top end of its FY23 growth guidance in constant currency (CC) to 9 per cent from 10 per cent earlier. The firm, which follows a September-August fiscal cycle, expects a 2-6 per cent CC growth in Q4 of FY23 (June-August 2023) versus the 6-10 per cent prior guidance.
Former Union minister Yashwant Sinha will be the consensus presidential candidate of several opposition parties, including the Congress, the Trinamool Congress and the Samajwadi Party, the parties said in a joint statement on Tuesday.
SBI Cards and Payment Services reported numbers that met Street expectations in the first quarter of the 2023-24 financial year (Q1FY24). The net profit came in at Rs 590 crore, while pre-provision operating profit grew 17 per cent year-on-year (YoY) (a little better than expectations). But provisions were hiked due to surprise stress from pre-Covid-19 period of 2018-19, and that dragged earnings.
Following their meeting with Sports Minister Anurag Thakur, the protesting wrestlers have agreed to suspend their protest for a week.
'The future of BRICS is under stress as Chinese attempts to expand the platform are being resisted by India and Brazil.' 'Beijing is focused on a quick expansion with the aim of giving the platform a distinctly anti-Western orientation, which New Delhi and Brasilia seem to have no interest in,' notes Harsh V Pant.
A party without a 'high command' would be 'anarchy,' he said.
The only real solution to the jobs crisis, whether in India or abroad, is to direct tech innovation towards job enhancing sectors, and disincentivising job-replacing ones, observes R Jagannathan.
'There's no pro-China tilt in BRICS.' 'All these countries want to be close to China, but they are all good friends of India also.'
'It is commendable that India is able to persuade all sides.' 'It shows that India counts and finally, we are reaching a position where we can find a place in the sun at the global level.'
'Earnings will be the catalyst for markets to march higher from here on out.'
The Supreme Court on Wednesday extended interim protection from arrest till July 19 to activist Teesta Setalvad in a case linked to the 2002 post-Godhra riots.
The Supreme Court is scheduled to hear on Wednesday a plea by social activist Teesta Setalvad challenging the Gujarat high court order which had rejected her plea for regular bail and directed her to surrender immediately in a case of alleged fabrication of evidence to frame innocent people in 2002 post-Godhra riots cases.
Eicher Motors is a leader in the premium motorcycle segment, where it holds market share of over 85 per cent under the Royal Enfield (RE) brand. The company's joint venture VE Commercial Vehicles (VECV) with Volvo, where it holds 54.5 per cent stake, gives it a strong footing in commercial vehicles (CVs). The company had good results in FY23 and it has a strong balance sheet and good operating margins.
Addressing the Inter-State Council meeting, convened after a gap of 10 years, the Prime Minister told the chief ministers that "we should focus on how we can make our country prepared to counter challenges to our internal security".
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