In 2014, gold prices had fluctuated between Rs 27,000 and 30,000/10g.
After a sharp sell-off in the past two months, overseas investors were once again seen turning bullish on Indian equities. FIIs bought shares worth Rs 63.5 billion in the past five sessions, their highest weekly investment tally in many months.
Adani Enterprises on Wednesday said it has decided to withdraw its fully subscribed Rs 20,000-crore follow-on public offer (FPO) and will return the proceeds to investors. The announcement came a day after the company's FPO was subscribed fully on the last day of the offer on Tuesday. "The Board of Adani Enterprises Ltd., (AEL) decided not to go ahead with the fully subscribed FPO.
Macroeconomic (macro) concerns, along with a cautious approach towards discretionary information technology (IT) spending, will see the revenue for Indian IT firms decelerate by 5 per cent through 2024-25 (FY25), from the highs of 12-18 per cent in 2022-23, said analysts from S&P Global Ratings. "The reason behind this slow growth is a macro slowdown. "Customers are cutting their discretionary IT spending, especially on projects that take longer to deliver quantifiable outcomes. "We also acknowledge that there are still strong economic headwinds for the next few years," said Spencer Ng, associate director, corporate ratings, S&P Global Ratings, over a call in a media briefing.
Under Urjit Patel, the then RBI Governor, the central bank had a habit of making complete about-turns on various issues, including electoral bonds and digital payments, former finance secretary Subash Chandra Garg said in his book titled 'We Also Make Policy: An Insider's Account of How the Finance Ministry Functions.' Citing some instances of about-turns by the then RBI Governor Patel, Garg in his book said, RBI had done so on the electoral bond issue and it had so in case of setting up of Payments Regulatory Board (PRB). RBI also made unilateral decisions like ordering complete data localization for participation in the payment system, Garg wrote in the book which will hit the stands on October 1.
Reserve Bank Governor Shaktikanta Das on Monday said with the country's foreign exchange reserves at $677 billion, it is comfortably placed to deal with any spillover effects and for financing of the current account deficit. Over the last three years, the country's foreign exchange reserves have surged by $270 billion. He said as per the latest data, the foreign exchange reserves are $622 billion.
In many states, aggregators operate without a licence; in others, with the risk of the licence being revoked by any regional transport office on the slightest pretext.
If a 5% to 10% fall in the equity market gives you sleepless nights, you are not cut out for a 75% to 80% allocation to equities and must reduce it.
Foreign exchange reserves of the oil producers have increased by $1.1 trillion over the past decade.
The challenge is to enhance opportunities for people to generate livelihoods through entrepreneurship, both big and small, argues R Jagannathan.
India, along with Southeast Asian countries such as Indonesia, is expected to sustain growth in the medium-term in Asia region, replacing China as the key growth driver, Morgan Stanley and Nomura said in two separate reports released on Monday. While Morgan Stanley projected a 6.2 per cent gross domestic product (GDP) growth forecast for India in FY24, Nomura estimated the Indian economy to grow at 5.9 per cent in 2023. "Even with a slowing China, we expect GDP growth in Asia to sustainably outperform other emerging markets and the US. India and Southeast Asia are set to be the fastest-growing economies this decade.
Tata Steel has a very British problem. The performance of Europe dragged the steel major's October-December (Q3FY23) performance with the UK business accounting for a major part of the operating loss; on the bottom line, the overhang of the British Steel Pension Scheme (BSPS) showed. And a nearly three-year discussion with the UK government on a support package for a green transition resulted in an offer that fell short of the ask.
Street gave a thumbs down to Aditya Birla Fashion and Retail (ABFRL)-TCNS Clothing deal as analysts flagged near-term profitability risks for ABFRL with its latest acquisition. At the bourses, shares of the Aditya Birla group company tumbled 6.2 per cent in the intra-day trade, before settling 3.27 per cent lower at R 207.2. Those of TCNS, meanwhile, plunged 20 per cent to end at Rs 416.64.
'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.'
The Reserve Bank of India on Friday raised the benchmark lending rate by 50 basis points to 5.40 per cent to tame inflation.
'The High Commission would like to categorically deny speculative reports in sections of media and social media about #India sending her troops to Sri Lanka. These reports and such views are also not in keeping with the position of the Government of #India,' the Indian mission said on Twitter.
Apple chief executive Tim Cook on Wednesday met Prime Minister Narendra Modi as the iPhone manufacturer is looking to invest more in the world's second-largest smartphone market. Cook, on his first trip to India in seven years, opened Apple's first retail store in the country in Mumbai on Tuesday and will launch another in Delhi on Thursday. Looking to replicate what China did to Apple's business in the last 15 years, the tech giant is eyeing India's massive market with an expanding middle class to power sales growth, and potentially make it a home base for the production of millions of Apple devices.
'You may see some movement indicating a simpler tax regime with less exemptions but with fewer tax rates making life simpler for taxpayers.'
Only a small percentage of passengers who traveled on the trains involved in the June 2, 2023 accident in Odisha had availed of travel accident insurance while booking their tickets online on the IRCTC portal.
Research and ratings agencies like Icra and Moody's have said the CAD in 2018-19 would be much higher than 2017-18
Global supply is staying in excess of demand.
ITC has been one of the best performing large-cap stock at the bourses thus far in calendar year 2022 (CY22), rallying nearly 52 per cent during this period and outperforming the sector benchmark - the S&P BSE FMCG index - by a wide margin that moved up around 17 per cent during this period. However, the counter has lost over 5 per cent from its recent high of Rs 346.25 hit on September 23, 2022 and has underperformed the S&P BSE Sensex, which has lost nearly 2 per cent since then. So, is the rally in the stock coming to an end, and is this a good time to book profit?
There is no direct impact of the Russia-Ukraine crisis on India in terms of bilateral trade but a surge in oil prices poses considerable risk to the economy, an analyst report said on Friday. International oil prices which have surged past $100 per barrel "pose risks to external stability and currency movement," a Bank of Baroda Economics Research report said. Russia has launched military operations against Ukraine, stoking fears of significant disruption in the region, including loss of life. The West is ramping up financial sanctions against Russia and support for Ukraine.
The car firm however does not want to sell its business.
Hindenburg Research has alleged that Adani Group was "engaged in a brazen stock manipulation and accounting fraud", a charge the conglomerate described as malicious, unsubstantiated, one-sided, and having done with malafide intention to ruin its share-sale.
India's inflation trajectory in the coming months will be influenced more by the geo-political situation due to the war in Europe and its impact on supply chains and commodity prices. However, the country is better placed than most to "weather the storm" and achieve growth of close to 8 per cent in the current fiscal year, the finance ministry said in its latest monthly economic report on Thursday. "Through the channel of imports, elevated global crude and edible oil prices now have a significant impact on India's inflation outlook. "Government measures to keep the prices of these commodities in check, along with the recent hike in policy rates by the RBI, are expected to temper inflationary pressures in the economy," the monthly economic report for April, drafted by the finance ministry's economic division, said.
US crude was down 25 cents at $52.08.
India, he said, has already taken a host of reforms in banking and other sectors and is now focussing on stepping up public investment. "Compared to other nations, even among advanced countries, I think India is relatively better placed for the simple reason that India paid a certain price last decade... we had a banking system stress which was then compounded by stress in the non-banking financial sector towards 2018," he said at Amazon Smbhav Summit.
'2022 has not been -- and will not be -- the kind of 2021 bull market, which lifted all boats.'
The American brokerage firm said it expects the rate cut to happen only in December if the monsoons normalise to cool down inflation or early 2015 in case prices rise prolongs.
ITC Ltd on Friday reported a 23.09 per cent increase in consolidated net profit at Rs 5,070.09 crore for the third quarter ended December 2022, helped by growth momentum across its operating segments. The diversified company had posted a net profit of Rs 4,118.80 crore during the October-December quarter of the previous fiscal, ITC said in a regulatory filing. Its revenue from operations was up 3.56 per cent to Rs 19,020.65 crore during the quarter under review, as against Rs 18,365.80 crore in the corresponding period of the previous fiscal.
'If something unfortunate happens to an earning member, the family loses the crucial income which would have gone towards paying off debts, meeting the cost of children's higher education, or towards the upkeep of elderly parents.'
It is going to be a long-term proposition for India -- which has a decades-old relationship with Moscow -- to reorient its foreign policy away from Russia, the US has said, insisting that re-aligning one's approach is not like flipping a light switch.
Rebalance the portfolio at least once a year to ensure it remains in sync with the target asset allocation.
Nirmala Sitharaman is proving to be a better finance minister than her initial rookie status might have led people to expect, observes T N Ninan.
Bank shares were the top gainer in early trades with Bank of Baroda up over 4%.
Shaktikanta Das is a master of the finest balancing act who listens to all but takes his own decisions, discovers Tamal Bandyopadhyay.
Pushing a barrel of oil back to around $100 would require a reduction of production of about two million barrels a day - a cut that would fall predominantly on Saudi Arabia.
China has increased its antics in Taiwan Strait post the visit of US House Speaker Nancy Pelosi to the self-governed island.
India's current account deficit is expected to deteriorate in the current fiscal on account of costlier imports and tepid merchandise exports, according to the Finance Ministry's monthly economic review. The review released on Thursday by the ministry also said that global headwinds would continue to pose a downside risk to growth as crude oil and edibles, which have driven inflation in India, remain major imported components in the consumption basket. For the present, it said, "their global prices have softened, as fears of recession have dampened prices somewhat. This would weaken inflationary pressures in India and rein in inflation."
