American brokerage firm Morgan Stanley on Thursday sharply cut its India FY23 real GDP growth estimate to 7.9 per cent, mainly due to the impact of the Russia-Ukraine conflict on oil prices. Analysts at the brokerage also raised their inflation forecast to 6 per cent - the upper end of the tolerance band for the RBI - and flagged stagflation risks because of the ongoing events. "We believe that the ongoing geopolitical tensions exacerbate external risks and impart a stagflationary impulse to the economy," they said. It can be noted that stagflation involves a stagnancy in output or growth, coupled with high inflation.
Borussia Moenchengladbach's hopes of qualifying for the Champions League suffered a blow as they were beaten 2-0 at bottom club Hanover 96 on Friday.
Corporate earnings in this quarter may take a hit on account of the equity exposure that companies may have taken following a bad quarter for the Indian markets, say market analysts.
DLF has a land bank of 295 million sq ft, of which 50 million sq ft is under development.
In the late 1990s, Japanese electronics brand Aiwa tied up with a maverick entrepreneur, Kabir Mulchandani, to sell its consumer electronic products. Founder of Baron International, Mulchandani, all of 26 at that time, had already disrupted the television market through a tie-up with another Japanese player, Akai. With a strategy that relied on heavy discounts, exchange offers and freebies, Akai was selling in huge volumes.
Owaisi's vehicle was near the Chhijarso toll plaza on the Hapur-Ghaziabad stretch of the National Highway 24 when the incident took place at around 6 pm, he said.
China on Wednesday said it will take "strong and effective" countermeasures against the US and Taiwan for violating the "One-China policy", as the US House of Representatives Speaker Nancy Pelosi successfully completed her visit to Taipei disregarding Beijing's vociferous threats.
The latest surge in cases in the last few weeks was a two year high in the country, denting official claims of China being one of the best performers in curbing COVID-19 pandemic.
Investor wealth eroded by Rs 6.59 lakh crore on Monday as equities tanked after the UK reported a new strain of the COVID-19 virus. The 30-share BSE Sensex plunged 1,406.73 points or 3 per cent to close at 45,553.96. The benchmark hit an all-time high of 47,055.69 during the session. Following the sharp selling, the market capitalisation of BSE-listed firms plummeted by Rs 659,313.65 crore to Rs 1,78,79,323.05 crore.
Sectoral players feel addition of rooms could hit earnings.
Net sales rose 26 per cent but profit rose at a slower 22.7 per cent, as operating margins took a hit by 160 basis points, year on year.
Indian notebook sales are moving at a scorching pace -- 73 per cent year-on-year in the first quarter of 2007 -- and this is affecting the volume growth in the IT peripherals market.
Naxal violence in Orissa has also put several investment proposals in jeopardy.
At interactions last week with senior officials from the Reserve Bank of India, select banks gave feedback on two key bond market concerns, namely, recent volatility in the rupee-dollar exchange rate and heavy losses incurred on floating rate government bonds due to a demand-supply mismatch, sources told Business Standard. The discussions were held ahead of the RBI's next monetary policy statement, scheduled on August 5. Indian banks are large holders of government securities because of a regulatory mandate to set aside a certain percentage of deposits in sovereign bonds.
Wayward employee behaviour at Uber and Infosys highlights the risk to corporate reputations.
Following the match, the spirits were high in the Hyderabad dressing room and here is what Captain David Warner told his teammates after the win...
Supply chain constraints will keep plaguing automobile companies even though demand significantly improved resulting in a 13 per cent year-on-year (YoY) increase in sales in financial year 2021-22 (FY22). Executives at auto firms fear that the Russia-Ukraine war will further dent the sector's prospects of recovery as supply chains face more disruptions. "The visibility in the supply side is so hazy that it is difficult to give even one quarter projection. But all the parameters of demand like pending bookings and enquiries are increasing.
With the rise in interest rates, bond yields have been on the rise; this will dent banks' treasury profits. Also, many retail borrowers may find it difficult to service their loans when the loan rates rise, points out Tamal Bandyopadhyay.
In contrast to the inertia in the SP camp, the ruling Bharatiya Janata Party showed no complacency in the run-up to the polls this month.
A few days ago, Reliance Retail surprised the market by acquiring the Campa brand from Delhi-based Pure Drinks Ltd for Rs 22 crore. A successful cola brand in the eighties, especially in North India, Campa Cola thrived when Coke exited India in the late seventies. When the Atlanta-based major returned and PepsiCo set base in India, it went down fighting.
Many believe that Saha should have refrained from making his conversations with Dravid public
Pakistan cricket has suffered a setback to its hopes of making a comeback to international cricket in the Test against South Africa.
'I'm not vaccinated and I'm not planning to get vaccinated so the only good news I can have is them removing the mandated green vaccine card'
'...if elections were to be held today.' 'The problem is Akhilesh is not very aggressive.' 'Had he started his campaign aggressively six months ago, the picture in UP would have been very different.'
'The biggest problem that faces the Opposition in Gujarat is just a day or two before voting is scheduled, Modiji goes on a spree of emotional appeals.' 'That process has been set in motion much earlier this time in Gujarat.'
Finance Minister Pranab Mukherjee on Saturday underlined the need for India and Bangladesh to deepen counter-terrorism cooperation, warning that insurgents have the 'potential' to affect the bilateral ties.
Kumar banged his table at Patna's Indian Coffee House as he announced this to an audience that was discussing alleged corruption in Bihar in 1977, writes Sankarshan Thakur in his biography of Kumar -- The Brothers Bihari.
Who do you think should be part of India's playing XI for the final ODI against South Africa?
Probably 35 bps. There could be even an encore in February 2023 to take the policy rate to 6.5% before the financial year ends, predicts Tamal Bandyopadhyay.
'BJP is cutting him down to size as he is trying to emerge a Hindutva national hero.'
GST collections in February grew 18 per cent to over Rs 1.33 lakh crore in February even as the Omicron wave dented the month-on-month collection momentum. This is for the fifth time in the current fiscal that the Goods and Services Tax (GST) collection has crossed Rs 1.30 lakh crore mark. Also, this is the first time, cess collection has crossed the Rs 10,000 crore mark, signifying recovery in certain key sectors, especially automobile sales, the finance ministry said on Tuesday.
Special Court Judge Madan Lakshmandas Tahilyani stunned the Mumbai police and public prosecutor Ujawal Nikam when he acquitted two Indian nationals Fahim Ansari and Sabahuddin of all the charges in the 26/11 Mumbai terror attacks case.
The Asian Development Bank on Wednesday revised down India's economic growth forecast for the current fiscal to 10 per cent, from 11 per cent predicted earlier, citing the adverse impact of the second wave of the pandemic. The growth forecast for India in fiscal year 2021 (ending in March 2022) was revised down, as the spike in COVID-19 cases during May dented the recovery, the Asian Development Bank (ADB) said in its latest economic outlook. "The outbreak, however, dissipated faster than anticipated, resulting in several states easing lockdown measures and returning to more normal travel patterns.
It has been a rollercoaster ride for SRH who won five games in a row before losing the next five.
Air India Express currently operates 145 daily flights, down from about 200 six months ago.
It was not a one-way ride up though for the man who now could potentially become the BJP's national president over time.
As Covid-19 cases spiralled in China ahead of the next month's Beijing Winter Olympics, authorities effectively put Anyang under lockdown, the third city after Xian and Tianjin, confining over 20 million people to their homes to arrest the spread of the contagion.
'I'm 79 + now, and I've been doing all this since my late 20s.' 'Sometimes the ideological war extends to the home as well.' 'Many nights I couldn't sleep when someone close to me uttered the smallest insult.' 'It would cause me a lot of pain. But one has to be honest to oneself.'
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 46 per cent jump in net profit for the three months ended June on the back of bumper earnings from oil and telecom businesses. The oil-to-retail-to-telecom conglomerate's consolidated net profit rose to Rs 17,955 crore during April-June period -- the first quarter of 2022-23 fiscal year -- from Rs 12,273 crore in the year-ago period, it said a stock exchange filing.
The concept of 'fairness by rulers' is deeply ingrained in Indians and any weakening of this dents the legitimacy of the ruler, warns military historian Colonel Anil A Athale (retd).
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