Sales of fast-moving consumer goods (FMCG) witnessed significant recovery in September after enduring a double-digit decline in August, according to data furnished by Bizom. Kirana stores in rural areas stocked up in preparation for the festival season, which began in September. This, combined with rainfall reaching 113 per cent of the long-perid average for the month, contributed to a boost in sales.
A cocktail of heatwave and upcoming cricketing events is expected to usher in the peak season for the country's largest beer maker, United Breweries. The beer maker, which has gained share in some key markets, will be a major beneficiary as April to July is an important period contributing to 40-45 per cent of its annual beer volumes. Going ahead, the T20 Cricket World Cup in June and the ongoing IPL will have a positive impact on volumes and should be able to offset the negative impact of elections on sales, experts believe.
Hindustan Aeronautics (HAL) is one of the largest beneficiaries of the defence indigenisation programme. The aerospace Public Sector Undertaking (PSU) has just received a new tender for 97 Light Combat Aircraft (LCA) Tejas Mk1A, and it is already servicing an earlier order for 83 LCA aircraft. The new order is worth around Rs 65,000 crore with a 65 per cent indigenisation component, whereas the earlier order (February 21) was worth Rs 45,700 crore with 55 per cent indigenisation.
Jasprit Bumrah needs an 'off-season' since his bowling action with an 'extensive effort' could result in ace India pacer suffering further injuries
'The 2020 assembly election was a Tejaswi Yadav election; whereas this is a Lalu Yadav election. It is his plan.'
Life Insurance Corporation of India (LIC) reported weak growth through H1FY24 but it witnessed a boost in embedded value (EV) due to equity-market performance. But concerns regarding its stock include loss of market share as it is outpaced by private sector rivals, sticky operating expenses (reduced slightly year-on-year but up in Q2FY24 versus Q1FY24), and high sensitivity of embedded value to equity volatility. Traders may also factor in the likelihood of another stake sale by the Government of India.
"Just three months more," says mom-to-be Deepika Padukone in a witty reply when asked if she is still in her character of a pregnant woman from her coming film Kalki 2898 AD.
The Indian Space and Research Organisation (ISRO) will launch two initial missions later this year under the Gaganyaan programme, followed by country's maiden human space-flight mission in 2024, Union Minister Jitendra Singh has said.
'What happens in the real estate market is that once the prices go up it goes on to stay at that level.' 'It might not increase and at the same time the prices will not come down too.'
Modi underlined his commitment to taking strict action against the corrupt amid criticism by opposition parties that probe agencies were used by his government to target their leaders.
Children born under the Special Marriage Act have equal rights over both parents' properties, regardless of their parents' religion or background.
Dropping references to the demolition of Babri Masjid in Ayodhya, the killing of Muslims in Gujarat riots and Hindutva, and tweaking the reference to Manipur's merger with India are among the latest set of revisions made public by the National Council of Educational Research and Training (NCERT) in its textbooks.
Despite Dharavi being located in the Mumbai North Central constituency and Mahalaxmi Racecourse in South Mumbai, the issues have caught the attention of all parties and their candidates.
rediffGURU Dev Ashish answers your personal finance and mutual fund queries
Indian conditions up there with the hardest: Ben Foakes
'With Trump, the relationship was very transactional, whereas with President Biden it is very structured.'
Counting of votes for the Lok Sabha elections has begun across states and Union Territories, Chief Election Commissioner Rajiv Kumar told PTI.
'Government supplied public services are less likely to be found in neighbourhoods with high numbers of Scheduled Castes and Muslims.'
The total benefits paid by private life insurance companies to policyholders rose by 5.98 per cent to Rs 1.57 trillion during 2022-23. This figure stood at Rs 1.49 trillion in the corresponding year-ago period. On the other hand, Life Insurance Corporation of India (LIC) paid out 4 per cent fewer benefits at Rs 3.39 trillion from Rs 3.53 trillion in 2021-22.
The life insurance industry reported a 25.28 per cent decline in new business premium income in November 2023 to Rs 26,494.83 crore from Rs 34,588.8 crore recorded a year ago. The fall in group premium and change in taxation norms for policies with a higher ticket size dragged the premiums of the state-run Life Insurance Corporation of India (LIC) and private insurers, respectively. According to the data released by the Life Insurance Council, the premium of private insurers slipped 9.33 per cent Y-o-Y to Rs 10,360.29 crore from Rs 11,426.73 crore as a result of a change in product mix due to the measures taken to counter the impact of tax imposed on the premiums of Rs 5 lakh.
Adani Green Energy (AGEL) on Tuesday announced it has secured a funding of $1.36 billion from a consortium of international banks as part of its construction financing framework. The $1.36-billion senior debt facility will enhance the company's funding pool to $3 billion since initial project financing in March 2021, AGEL said in a statement. According to the statement, AGEL, India's largest and world's leading renewable energy player, announced a follow-on funding of $1.36 billion to further boost its construction financing framework to $3 billion backed by a consortium of renowned international banks.
'The Indian govt's initiatives on EVs are very strong and customers want to buy EVs. This will make the country's conversion to EVs faster than other markets, and I hope even faster than the US'
Credit-to-deposit (CD) ratio of major public sector and private sector banks during the October-December quarter of FY24 inched up as compared to the previous quarter though government-owned lenders reported a lower rate than their private peers. CD ratio is the ratio of the funds that banks lend as compared to the funds raised in the form of deposits. The CD ratio of top public sector banks (PSBs) - State Bank of India, Punjab National Bank, Bank of Baroda and Canara Bank - was lower than their private counterparts.
After an extremely stable 2023, the Indian rupee started 2024 on a promising note and has turned out to be the best-performing Asian currency so far in January, appreciating 0.1 per cent despite 2 per cent rise in the dollar index. All other Asian currencies depreciated by around 1.4-4 per cent during the month. The local currency regained its ground against the greenback on the back of foreign portfolio inflows, said market participants.
'India has the potential to do a lot more to take advantage of the time today where we stand to gain, geopolitically and in terms of market attractiveness.'
Former United States president and Republican presidential nominee Donald Trump on Thursday refused to debate with his Democratic rival and Vice President Kamala Harris until the Democrats formally decide on their nominee, whereas the latter said that she is ready for a debate.
Perhaps the finance ministry or NITI Aayog could take a detailed look at what governments actually deliver and at what cost; how their services can be improved and expanded where necessary; how much money can be saved through doing things differently; and how many things the government does which it can safely leave to the private sector, argues T N Ninan.
Private life insurers experienced reasonable growth in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24), and the October data is also encouraging. The individual weighted received premium (WRP) for private players grew by 19.8 per cent year-on-year (Y-o-Y) in October. However, Life Insurance Corporation (LIC) of India had slower growth, pulling the industry growth rate down to 13 per cent Y-o-Y.
The cash pile within smallcap mutual fund (MF) schemes has grown over the past few months amid a relentless rally in stocks in this space. While fund managers usually don't make cash calls, incessant inflows and valuation discomfort have forced their hand. At the end of January, the top 10 schemes had over Rs 12,160 crore in cash, compared to Rs 8,700 crore in August 2023.
Prime Minister Narendra Modi on Sunday hailed Indian athletes' performance at the World University Games in Chengdu, saying they had done the nation proud by returning home with a record haul of 26 medals.
'Our civil society here is vibrant, and courageous, although it is beaten up and beaten down, repeatedly.'
Nathan Lyon, Agar, leg-spinner Swepson and young off-spinner Todd Murphy got the nod in the 18-member Australia squad with Zampa missing out.
Elections are not won or lost by expounding on such macro-economic matters. For the aam admi, what matters in manifestos are promises that will improve their quality of life, notes Vinayak Chatterjee.
Consumer goods firms and auto companies are witnessing an upturn in rural demand, which had been lagging for most of FY24. Expectations of a bumper rabi crop harvest have helped turn the tide. The Reserve Bank of India's (RBI's) Monetary Policy Committee kept the repo rate unchanged last week, noting that as rural demand catches up, consumption is expected to support economic growth in 2024-25.
Rather than a blind reproduction of the government template, a more productive way of enforcing affirmative action in the private sector could be to emulate an American model, suggests Kanika Datta.
Giving a clarion call to defeat the Mamata Banerjee-led party in West Bengal, the prime minister while addressing a mega rally in Siliguri said, "The road to oust the corrupt TMC government from West Bengal will open from the Lok Sabha polls."
Back to the grind after a couple of days' leave, Virat Kohli's extended net session was the focal point of Team India's first training session in the city ahead of its World Cup opener against Australia on Sunday.
There is very little chance that Rajat Patidar will make it to the playing eleven during India's opening Test against England unless the hosts decide on going a bowler short.
Royal Challengers Bengaluru's Director of Cricket Mo Bobat admitted that some high-profile players in their ranks have failed to deliver and hinted at possible changes in the team in Monday's IPL match against the Sunrisers Hyderabad in Bengaluru.
Wednesday's Vikravandi by-election has become a referendum on the Stalin government, notes N Sathiya Moorthy.
