When there is panic, you get an opportunity to get your hands on some of the good stocks.
Mining magnate Anil Agarwal's conglomerate on Friday announced a major business shake-up, with flagship Vedanta Ltd approving a spin-off of its metals, power, aluminium and oil and gas businesses into separate listed entities and an overhaul of lucrative zinc unit planned as part of value creation and reducing debt load. Vedanta will issue one share of the five demerged businesses for every share held in the company, the firm said in a statement. The entire exercise, which would require shareholder and lender approval as well as a nod from the stock exchanges and courts, is expected to be completed in 12-15 months, its president for finance Ajay Agarwal said.
Those who consider the rupee as a proxy for virility have started thumping their chests and dreaming of dethroning the dollar from its coveted position, observes Tamal Bandyopadhyay.
India's unemployment rose to a three-month high in March to 7.8 per cent as the country's labour markets deteriorated, according to data from the Centre for Monitoring Indian Economy (CMIE). Unemployment rate in the country surged in December 2022 to 8.30 per cent but declined in January to 7.14 per cent. It edged up again in February to 7.45 per cent, the CMIE data released on Saturday showed. During March, the unemployment rate in urban areas was at 8.4 per cent while in the rural areas it was at 7.5 per cent.
The papayas from Mumbai were too squishy, the chef raced through the streets of Goa in a police jeep to look for fruit ripened just right only to have security personnel puncture many a hole through them... a new book recalls in detail the struggle to procure and plate perfect papayas for Indira Gandhi during a Commonwealth Heads of Government Meeting (CHOGM) in 1983.
Bankers said the outlook of M&As in India in 2024, especially in the second half after the Lok Sabha election, seems relatively better.
Despite strong AUM growth, MFs lag behind other popular investment avenues. MFs received only 6 per cent of total household savings in 2021-2022.
DRDO's failures over the decades have contributed significantly to India becoming the world's biggest weapons importer, points out Lieutenant General Prakash Katoch (retd).
The benchmark Nifty50 managed to reclaim its 200-day moving average (DMA) on Wednesday but about half of top 500 stocks continue to languish below this key technical indicator. The 200-DMA - nearly a year's average of closing prices - is analysed by traders to understand the market sentiment. A fall below these levels indicates a weak trend.
WhatsApp's advantage is that it is the first app millions of Indian check first thing in the morning and innumerable times during the day and night.
The Indian equity market is likely to remain under pressure and rangebound over the next few months. This comes as global central banks, led by the US Federal Reserve look at a possibility of hiking rates aggressively to tame inflation. Back home, the Reserve Bank of India, too, remains data dependent in its endeavour to keep inflation in check and pursue an aggressive monetary policy stance.
During 2023, the Indian real estate sector - both housing and commercial - witnessed buoyancy fuelled by demand, supply, and absorption, and the sector is banking on the upcoming Budget to keep the momentum going. Mumbai-based Sattva Group wants the government to focus on the critical pillars for long-term growth. The company emphasised on the infrastructure boom with increased allocation, lower goods and services tax (GST) rates, incentives for affordable housing and single-window clearance to fast-track projects and support liquidity.
Moody's Investors Service on Monday said the bank capital will moderately fall in emerging Asia over the next two years, with India seeing larger capital decline without further infusion. In a report, Moody's said the uncertain trajectory of asset quality is one of the biggest threats for emerging market banks, as operating conditions remain challenging amid the current COVID pandemic.
'The Fed rate will peak in the range of 5.1-5.3 per cent during the second quarter of CY23 and will most likely stay there for a while before rate cuts start in CY24.'
Education finance is a complex and dynamic sector. There are too many variables -- the course, the calibre of students, the universities, and the job prospects once the course is over, notes Tamal Bandyopadhyay.
At the annual general meeting of Reliance Industries earlier this week, Isha Ambani, director at Reliance Retail Ventures, announced that the company is foraying into the fast-moving consumer goods (FMCG) space. But analysts say that only time will tell if this will lead to a disruption in India's FMCG market. While Reliance Retail's initial strategy is to take its own brands, which it currently sells at its own supermarkets and hypermarkets, to general trade, it is also looking at acquisitions.
The Supreme Court Tuesday granted one-week time to yoga guru Ramdev, his aide Balkrishna and Patanjali Ayurved to issue a public apology in the misleading advertisements case, but said it was not letting them 'off the hook' now.
Jet and Etihad stand to benefit from cost savings and synergies in areas such as fleet acquisition, maintenance and training.
The board of Maruti Suzuki India (MSIL) on Tuesday approved a proposal to issue shares worth Rs 12,841 crore to parent company Suzuki Motor Corporation (SMC) for acquiring Suzuki Motor Gujarat (SMG). The Gujarat manufacturing plant - with an annual capacity of 750,000 units - is owned by SMG, a wholly-owned subsidiary of SMC. The shares issued to SMC will raise its ownership in MSIL from 56.48 per cent to 58.19 per cent--India's largest carmaker stated in a notice to BSE.
So should airlines play the keening, trance-like Siddi folk music from the Kutch peninsula? The Sufiana Kalam of Kashmir? Carnatic music? Rabindra Sangeet? Bihu melodies? Classical music from the Hindustani gharanas? Ghazals? Bhajans? Bollywood hits?... asks Kanika Datta.
While for clients it has led to increased outsourcing, they are no more worried about which shore the service providers are executing the project in - offshore, onshore or near-shore - because remote working has become the standard norm in the industry, giving rise to a "no shore" kind of model.
Employers are now looking to hire professionals who can demonstrate their skills rather than reel off a catalogue of undirected theoretical qualifications.
From March 3, investors in India will be able to trade in select US stocks through the NSE International Exchange (NSE IFSC), a wholly owned subsidiary of the National Stock Exchange (NSE). Investors can invest in NSE IFSC receipts on US stocks, which will be in the form of unsponsored depository receipts (DRs). For a start, this will include DRs of 50 US stocks such as Apple, Alphabet, Amazon, Tesla, Microsoft, Morgan Stanley, Nike, P&G, Coca-Cola, and Exxon Mobil. Indian retail investors will be able to transact on the NSE IFSC platform under the Liberalised Remittance Scheme (LRS) limits prescribed by the Reserve Bank of India (RBI), which currently stand at $250,000 per year.
A study by second-hand car dealer CARS 24 showed 42 per cent of the consumer feel the need for a car to travel safely now. Those who used cabs to commute before the pandemic want to buy a car for the family and a two-wheeler for shorter runs.
Ivan Manuel Menezes, the India-born CEO of the world's biggest spirits company Diageo, died on Wednesday, days after being hospitalised for treatment of stomach ulcer. Menezes, 64, who was to retire at the end of this month, died in London, the company said. "It is with great sadness that Diageo announces that Sir Ivan Menezes has passed away following a brief illness, with his family at his side," it said in a statement. Diageo had on Monday announced that CEO-designate Debra Crew will assume the top role on an interim basis immediately as Menezes undergoes medical treatment.
Currency scarcity weighed on manufacturing performance where growth of new work flows slowed
A young couple sharing a laugh - in the living room over a Polish joke book, on the beach, in the rain - with the tagline, "Made for each other", hung from billboards at prominent street corners from the 1960s to the 1990s. It was a campaign for one of the largest selling cigarette brands in India, Wills (Navy Cut) from the ITC stable, that resonated with a generation of smokers and non-smokers alike till the curtains came down on tobacco advertising in 2004. As we prepare to welcome 2024, ITC has metamorphosed from a tobacco giant into a conglomerate straddling multiple large-sized businesses. In the mind space of Gen Z or millennials, the company represents a gamut of branded products - from frozen food (ITC Master Chef), noodles (YiPPee!), and cookies (Sunfeast) to snacks (Bingo!) and notebooks (Classmate), and so on and so forth.
The country's largest software exporter TCS on Wednesday reported a 16.83 per cent jump in its June quarter consolidated net profit to Rs 11,074 crore. The Tata Group company had reported a net profit of Rs 9,478 crore in the year-ago period and Rs 11,392 crore in the preceding quarter. Its revenue from operations increased 12.55 per cent on a year-on-year basis to Rs 59,381 crore and was marginally up from the preceding March quarter's Rs 59,162 crore.
While Geojit Financial Services and Kotak Securities are already managing large NRI portfolios in West Asian countries, Sharekhan, yet another local brokerage outfit, recently launched a broking platform called India First in Bangkok for NRI clients.
Why did the company zero in on RBL Bank to understand the business of banking? While the M&M investors heaved a sigh of relief, one gentleman must have been all smiles after this, RBL Bank MD and CEO R Subramaniakumar, notes Tamal Bandyopadhyay.
'Parents, students and coaching institutes will find alternatives to cater to the demand.'
'IT companies do not have a large presence there either in terms of market and team. So, the impact of the war will be minimal. But West Asia is an emerging economy.'
Given the developments, analysts do not foresee a quick recovery.
'You need to be careful about this.' 'Growth without fundamental principles is like fat.' 'Growth with good base and fundamentals is like muscles.'
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 22.5 per cent rise in net profit for the quarter ended March on the back of bumper oil refining margins, steady growth in telecom and digital services and strong momentum in the retail business. The oil-to-retail-to-telecom conglomerate's consolidated net profit rose to Rs 16,203 crore in the quarter ended March 31, 2022 from Rs 13,227 crore, the firm said in a statement. Net profit, however, fell 12.6 per cent sequentially -- breaking a six-quarter chain of quarter-on-quarter improvement.
Sahara Group chief Subrata Roy passed away on Tuesday due to a cardiorespiratory arrest after a prolonged illness, a company statement said. He was 75. He was 75. According to the company statement, he passed away at 10.30 pm due to cardio-respiratory arrest following an extended battle with complications arising from metastatic malignancy, hypertension, and diabetes.
Indian market probably has more headroom than the US, says Geoff Lewis, senior strategist for Asia, Manulife Asset Management.
The Indian office real estate market, which had recovered significantly in early 2022, began to slow down in the latter half due to macroeconomic problems in the developed world. Rental yields are likely to be stable at best in FY24.
The Indian rupee, which has depreciated 1.1 per cent so far in August, is expected to decline further on the back of a strengthening US dollar and a weakening Chinese yuan, according to a Business Standard poll of analysts. The Indian rupee hit an all-time low recently, closing at 83.15 per dollar. Five of the 10 respondents said the Indian currency might touch 83.5 per dollar in August itself, while others said the worst could be over.
Tokyo -- the songs Japan, Love In Tokyo and Sayonara from the 1966 Hindi film automatically pop up in the mind -- is buzzing and crowded like any other metropolis, discovers Deepa Gahlot. The modern apartment blocks are built cheek by jowl, so close together that one can open the window and borrow sugar from the neighbour in the next building. One of the fears of the Indian traveller is the unavailability of vegetarian food. Every city and town in Japan has an array of Indian restaurants that serve every variety of cuisine, right from Gujarati to Punjabi to Andhra and Kerala meals.
