Mallya's comments came a day after country's largest lender, State Bank's Chairman O P Bhatt said that rising levels of stressed assets may push up defaults in the domestic banking system and banks need to enhance their risk management mechanisms to tackle the issue. However, BoB has a comfortable liquidity position and has its NPA levels under control, Mallya said, adding, "the bank has adequate headroom to raise capital but did not have any immediate plans to do so."
With the rural segment accounting for 60 per cent of sales for fast moving consumer goods companies and 40-50 per cent for consumer durables manufacturers, the government's admission of sowing having fallen almost 20 per cent due to the weak monsoon, and declaring 161 districts as drought-prone, has put these sectors under a cloud.
Equity investors became richer by over Rs 5.77 lakh crore on Tuesday, helped by a rally in the broader market where the BSE benchmark jumped nearly 2 per cent. The BSE Sensex zoomed 934.23 points or 1.81 per cent to settle at 52,532.07. Driven by the rally in equities, the market capitalisation of BSE-listed firms jumped by Rs 5,77,006.83 crore to stand at Rs 2,40,63,930.50 crore. "Absence of fresh selling triggers in the domestic and global economy along with falling commodity prices relieved the heavily discounted equity market to showcase recovery.
An old consumer electronics warhorse looks to leverage its past.
As the Rs 25,000-crore (Rs 250-billion) consumer durables industry has done away with price cuts this year, companies are providing consumers with a new hook -- value-added offers.
The Reserve Bank of India's (RBI's) state of the economy report observed that any durable alignment of headline retail inflation with the target of 4 per cent could recommence in the second half of FY25 and sustain until numbers closer to the target are seen during the course of FY26, dashing hopes of any reduction in the policy repo rate in the current financial year. The report, authored by RBI staffers, including Deputy Governor in charge of monetary policy Michael Patra, said though headline numbers may fall in July and August due to base effect, it is likely to reverse in September.
How will the RBI announcement on loan moratorium work for those with home loans, auto loans, personal loans, consumer durables loan? Here's what experts have to say.
Kishore Biyani's Future Group will hive off its electronics business into a separate company, as continued promotions and increased competition are taking a toll on its margins.
The Sensex ended at 17,098, lower by 21 points and the Nifty closed at 5,106, down 12 points.
The 30-share BSE benchmark tanked 535.57 points or 1.13 per cent to close at 46,874.36 on Thursday. It has now lost 2,917.76 points in five days.
Manappuram declared consolidated assets under management (AUM) growth of 27 per cent year-on-year (Y-o-Y) (5.1 per cent quarter-on-quarter or Q-o-Q) to Rs 38,950 crore. Net interest income (NII) saw a margin expansion of 24 basis points (bps) Q-o-Q to 15.44 per cent.
The broader markets traded higher with mid-caps and small-caps gaining 0.2-0.3 per cent on the BSE.
Industrial production grew 11.9 per cent in August mainly due to a low-base effect and good performance by manufacturing, mining and power sectors that surpassed the pre-COVID level. The manufacturing sector, which constitutes 77.63 per cent of the Index of Industrial Production (IIP), grew 9.7 per cent in August, according to the data released by the National Statistical Office (NSO) on Tuesday. The mining sector output rose 23.6 per cent in August, while power generation increased 16 per cent.
Discarding a weak economic growth number, markets today rose for the fourth straight day with BSE Sensex gaining 169 points to close at a new 19-month high on hopes of imminent rate cut to revive the slowing economy.
ITC, Godrej Agrovet, DCM Shriram and other companies expanding in rural areas may eclipse the growth of their urban counterparts, including Reliance Fresh and the Future Group-owned Food Bazaar chain, helped by higher farm income that is spurring a boom in sales of fast moving consumer goods, consumer durables and apparel.
Could launch high-end models once 4G technology picks up in India.
'We expect market consolidation and recommend buying during market dips.'
The company said it has tied up with Indian content providers like Ndtv.com, Hungama.com, Indiatimes.com and Zapak.com for local Indian content.
Could the MPCE survey results be used as a basis of reconstructing the Consumer Price Index with new weights, asks Madan Sabnavis.
TVs, air conditioners, washing machines, inverters, refrigerators, electric fans and cooking appliances may become cheaper
The government has held back the release of complete data of the Index of Industrial Production (IIP) for April, as was done for the same month last year due to the COVID-19 lockdown. Last year in June, the National Statistical Office (NSO) had held back the release of complete IIP data due to the effect of the nationwide lockdown on factory output. This year too industrial production was hit due to lockdown restrictions imposed by states to curb the second wave of the pandemic.
Consumer durables major Videocon Industries has acquired Planet M, the music and entertainment retail arm of media house Bennett, Coleman & Co, for Rs 200 crore. The acquisition has been done by NEXT, Videocon's retail chain for consumer electronics and home appliances. Videocon Chairman V N Dhoot said Planet M, which has a huge brand equity, fits in well with the group's retail ambitions. Dhoot said the group plans an over six-fold increase in Planet M's turnover.
Banking services, insurance premium and investment management are likely to cost more.
Output of the manufacturing sector, which constitutes over 75 per cent of the index, rose 8.5 per cent in January, compared to 8.1 per cent in the same month last year.
The Sensex jumped 181 points to close at a one-week high of 18,791.93 on strong buying in banks, realty and consumer durables ahead of the festival season, amid strong global cues triggered by robust economic data from the US and China.
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