Foreign direct investment (FDI) in India has declined by six per cent to $5.47 billion during January-March quarter of the current calender year even as government is making efforts to promote the country as an investment destination.
India's top listed companies reported their best-ever quarterly net profit of Rs 2.39 trillion in the September quarter of FY22, up 46.4 per cent year-on-year. The earnings were driven by a big surge in the profitability of banks, non-banking financial companies & insurance (BFSI), oil & gas, and metal & mining firms. The combined net profit of these three cyclical sectors were up 87 per cent YoY to a record high of Rs 1.53 trillion, up from Rs 82,000 crore a year ago and Rs 1.08 trillion in Q1FY22.
Major General S C N Jatar, who passed into the ages on Monday night, thwarted anti-national forces at the peak of the Assam agitation. Colonel Anil A Athale (retd) salutes this officer and gentleman.
Telecom operator Bharti Airtel will start rolling out 5G services later this month as it signed requisite agreements with Ericsson, Nokia and Samsung. At the recently held much-awaited spectrum auction for 5G services by the Department of Telecom, Airtel bid for and acquired 19867.8 MHZ spectrum in 900 MHz, 1800 MHz, 2100 MHz, 3300 MHz, and 26 GHz frequencies. "We are delighted to announce that Airtel will commence roll out of 5G services in August.
"It is a matter of self-respect and dignity to live in Indra Nagar rather than in a street that identifies your caste.'
Conflicting views on Coal India (CIL) might leave investors confused. The bullish perspective that India has strong power demand (and also high steel production) means high demand for coal. As CIL is the monopoly producer of coal -- supplying over 80 per cent of the domestic requirement - the public sector undertaking should be a beneficiary of the rising power demand.
Sentiment was largely positive after April IIP grew at 4.9 per cent, spurred by higher growth in manufacturing and mining sectors.
All nine Adani stocks saw a rise in their share price in H1FY23, ranging from 6.1% in case of Adani Ports to 102% in case of Adani Power.
A terrorist was killed and another was most likely injured on Saturday in an ongoing operation in the densely forested area of Rajouri district in Jammu and Kashmir, Army said.
Industrial production declined by 8 per cent in August, mainly due to lower output of manufacturing, mining and power generation sectors, official data showed on Monday. According to the Index of Industrial Production (IIP) data, manufacturing sector production registered a decline of 8.6 per cent, while the output of mining and power segments fell 9.8 per cent and 1.8 per cent, respectively.
Ahead of the state assembly elections due this year-end, Baghel made as many as 15 announcements in his address during the state-level Independence Day function at the Police Parade ground in Raipur.
"Independence means if government has done something wrong, you say it's wrong. But at the same time, you should have courage when the government is doing the right thing every day. You have to also say that," he Gautam Adani was quoted as saying by FT.
Sidhu made the sharp retort amid speculation that the former cricketer is himself eyeing the top post if the Congress wins next month's assembly polls.
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India's annual industrial output growth slowed to 4.2 per cent in July compared with an upwardly revised 4.4 per cent growth a month ago, government data showed on Friday.
Metal sector is not too happy from Budget announcements for the sector
A more effective promotion of domestic manufacturing and mining could significantly reduce the trade deficit in key sectors, says T N Ninan.
The mismatch between PMI and core sector could also be due to the fact that while core sector is calculated year-on-year, PMI is calculated month-on-month.
The output, as measured by the Index of Industrial Production, had contracted by 2.5 per cent in the same month of last year.
Gautam Adani's alleged proximity to Narendra Modi may dent the latter's self-styled image of incorruptibility, points out Kanika Datta.
Electricity generation has outperformed the industrial production index for five months in a row this financial year, even as the broader economy is struggling to grow.
Government wants to increase coal production so that it can meet the ever increasing coal demand.
Economists surveyed by Reuters had forecast a 0.5 per cent growth in output
Business conglomerate Adani Group's chairman Gautam Adani is now the world's second-richest person after overtaking Louis Vuitton's Bernard Arnault, according to Forbes' Real-Time Billionaires List. At the time of writing this report, Gautam Adani's net worth was $153.9 billion, compared to Arnault's net worth of $153.7 billion. Adani is now just behind business magnate Elon Musk, according to Forbes' data.
India Inc on Thursday pitched for continuation of reforms while ensuring tax and policy stability in the forthcoming Budget to prop up the economy hit hard by the COVID-19 pandemic. In the virtual pre-Budget consultation held with Finance Minister Nirmala Sitharaman, industry chambers said that government measures will help firmly entrench the nascent signs of recovery being currently seen in private investment. Capital expenditure by the government through enhanced infrastructure spending should in the meantime continue to support growth, CII president TV Narendran said.
In a submission to the federal government on the size of the immigration programme to be set in the May budget, Australian Industry Group has asked the government to increase intake of immigrants from 190,000 to 220,000 in 2014-15.
The key platforms that India has been exporting are Dornier-228 aircraft, 155 mm Advanced Towed Artillery Guns (ATAGs), Brahmos missiles, Akash missile system, radars, mine protected vehicles, armoured vehicles, Pinaka rockets and launchers, ammunition, thermal imagers and various components of avionics and small arms.
From the seas to the stars, this partnership will now be deepened by the defining role of technology, the statement said.
During the six-month period (April-September 2019), the Indian economy grew 4.8 per cent as against 7.5 per cent in the same period a year ago.
A strong performance by sectors including banking raised the profits of Indian companies by 28 per cent in the three months ended March 2022. The rate of growth is, however, lower than the 30 per cent seen in December. Growth in net sales was also lower than what was seen in the December quarter for the sample under consideration.
The government is keen to amend the MMDR Act for transparency in the mining sector.
Vedanta's Cairn Oil & Gas on Thursday announced the appointment of Nick Walker as the new chief executive officer (CEO) of the company. In a statement, the company said the appointment is effective January 5. "Before this appointment, Walker was president and chief executive officer at Lundin Energy, one of the leading European independent E&P companies," it said.
Defence Minister Rajnath Singh on Tuesday handed over to the Army a raft of home-grown military hardware including unmanned aerial systems, quick reaction fighting vehicles, patrol boats and surveillance equipment for boosting its overall combat capability in eastern Ladakh.
The Supreme Court-mandated ban on all mining operations in Goa -- the second in less than a decade -- will disrupt the livelihoods of tens of thousands in the state, points out P K Mukherjee.
India's industrial production contracted by 3.6 per cent in February, official data showed on Monday. According to the Index of Industrial Production (IIP) data released by the National Statistical Office (NSO), manufacturing sector output declined by 3.7 per cent in February 2021. Retail inflation rose to 5.52 per cent in March, mainly on account of higher food prices, government data showed on Monday. The consumer price index (CPI) based retail inflation stood at 5.03 per cent in February.
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Delayed clearances for coal blocks, as well as companies' own failure in developing mines, appear to have had a financial implication of Rs 1.46 lakh crore (Rs 1.46 trillion) for the country.
Union Budget 2014-15 is positive for metals and mining companies.
The IIP growth was 0.6 per cent as against 1.7 per cent in April last year.
'Top lines will grow, volume growth will be there, but margins might also be impacted.'
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