The Lok Sabha elections in 2024 are not a consideration when it comes to monetary policymaking, said Reserve Bank of India governor Shaktikanta Das to underscore the central bank's commitment to controlling inflation. "It's not possible for me to comment what we do in the next MPC (Monetary Policy Committee), but one thing I can tell and I would like to make it very clear-that the fact of elections coming up in 2024 is not a factor at all so far as monetary policymaking is concerned. "Monetary policymaking is for checking (and) controlling inflation," Das said at the Business Standard, BFSI Insight Summit.
The Tata group companies are now more valuable than all the listed central public sector undertakings (CPSUs) or companies in the country. The key 20 listed Tata companies ended the 2021 calendar year with a combined market capitalisation of Rs 23.36 trillion, ahead of the 70 listed CPSUs, which had a combined m-cap of Rs 23.2 trillion. In comparison, these CPSUs had a combined market capitalisation of Rs 16.7 trillion at the end of December 2020 against the Tata group firms' combined m-cap of Rs 15.7 trillion.
RBI Governor Shaktikanta Das kept the red flag on cryptocurrencies flying, warning that the next financial crisis can be triggered by private cryptocurrencies if such speculative instruments are allowed to grow.
Corporate India is more dependent than before on exporters of IT services such as Tata Consultancy Services (TCS), Infosys, and Wipro for earning foreign exchange. Such companies account for nearly 43 per cent of the forex revenues of listed firms, up from 22 per cent a decade ago. The listed IT services companies earned nearly Rs 4.2 trillion through exports in FY22, up 15 per cent from the Rs 3.65 trillion a year earlier. In comparison, the forex revenues or exports of the rest of the BSE500 companies were down 11.9 per cent to Rs 5.6 trillion last financial year.
Corporate earnings grew in double digits during the April-June 2022 (Q1FY23) quarter but the momentum waned. Overall corporate earnings in the quarter were down sharply from their highs in FY22. The combined net profit of 2,981 listed companies across sectors in the Business Standard sample was up 22.4 per cent YoY to Rs 2.24 trillion in the June quarter, driven by a big jump in the earnings of banks, non-banking lenders, oil & producers, and FMCG companies. Also, earnings in the corresponding quarter a year ago were affected because of the second wave of the Covid pandemic, even though the numbers were a lot better than Q1FY21 when there was a nationwide lockdown.
Flight Lieutenant Adivitiya Bal was killed in the line of duty along with Wing Commander Mohit Rana in last week's MiG-21 crash in Barmer. His school in Nagrota, Jammu, gave a final salute to a worthy ex-student.
An unhappy, restive mood prevails at the Ford factory Maraimala Nagar, 50 km from Chennai, and the surrounding area. The security is tight - not just Ford security personnel but also Tamil Nadu state police who are posted at the main gate. From September 9, when Ford India announced it was phasing out its units in India and leaving, workers at its manufacturing unit at Maraimala Nagar have held onto one hope: that the state government will step in to save their jobs.
Owing to a big rise in the market capitalisation of group companies such as Adani Green Energy and Adani Transmission, the group promoters, the Gautam Adani family, have closed the wealth gap with Mukesh Ambani, the promoter and owner of Reliance Industries Ltd (RIL). Ambani continues to top India's billionaire league table. The Ambani family's net worth was estimated to be Rs 8.06 trillion (around $108 billion) on Tuesday against the Rs 6.87 trillion (around $92 billion) of the Adani family.
The early bird results for the January-March 2022 quarter (Q4FY22) hint at a slowdown in corporate sector growth in the upcoming quarters. The combined net sales of the 81 early bird companies in the Business Standard sample were up 15.1 per cent year-on-year in Q4FY22; this was less than the 15.9 per cent YoY jump reported in Q3FY22. The slowdown could be much stronger for the domestic market-focused companies, including those in the banking, finance, and insurance (BFSI) space.
The fundamental issue between banks and fintech would be who will own the customer and who will be the service provider.
Neelesh Surana, who manages Mirae Asset Tax Saver and Mirae Asset Emerging Bluechip, remains constructive on Indian equities from a three to five-year time frame.
UP Rs 50 billion, followed by Maharashtra, Bihar, and West Bengal which may need close to Rs 25 billion for the massive task.
Outperforming peers following a crisis in the debt markets is an act that ICICI Prudential Asset Management Company fund manager Manish Banthia has pulled off more than once.
'We never go overboard on any stock, no matter how good it may seem.'
'A lot of people who quit felt they have been in the organisation for way too long and needed a better or challenging career role to advance in their careers.'
The Appointments Committee of the Cabinet, led by Prime Minister Narendra Modi, approved the appointment of Singh as Press Secretary to the President on contract basis initially for a period of one year or until further orders, the Department of Personnel and Training said in an order.
'There will be partnerships between banks and fintech firms, but there will also be areas where they will be direct competitors.'
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.
The rot is is not limited to Chitra Ramkrishna and the yogi, observed Debashis Basu.
In 2019-20, the capital expenditure of Indian Railways (IR) increased 60 per cent over 2016-17. The draft National Railways plan envisages a further increase in IR's capital expenditure, but an analysis by Business Standard shows that IR has come to depend more on borrowings and budgetary support. In 2016-17, while 11 per cent of its capital expenditure (capex) was funded by internal sources, in 2019-20 the ratio dropped to less than 1 per cent. A 2015 Committee on Restructuring Railways had flagged that over-reliance on borrowings could exacerbate the financial situation of Railways.
The discount should be equal to interest rates on savings bank account deposit of State Bank of India.
The combined dividend payout by early-bird companies -- those that have declared their results for FY21 -- is up 8.9 per cent, lower than the 21.9 per cent rise in in FY20 but ahead of the underlying growth in India Inc business last year. Combined net sales of these early birds were down 1.8 per cent last financial year while net profit was up 27.3 per cent in FY21. Some top companies that have stepped up dividend payout in FY21 include Hindustan Unilever, Indus Towers, Tata Steel, Ultratech Cement, Larsen & Toubro, Dabur, Asian Paints, and UPL. In contrast, banks have skipped dividends under an RBI diktat while companies such as Marico, TCS, Maruti Suzuki, and Godrej Consumer are paying lower dividends for FY21.
The country's top FMCG stocks, such as Hindustan Unilever, ITC, Nestl, Britannia, Godrej Consumer Products, and Dabur, among others, are currently trading at around 41x their trailing 12-month earnings, down from their peak P/E multiple of around 48x at the end of December 2018.
Honda's economy motorcycle Twister was chosen Bike of the Year.
'It could tempt investors to pick stocks that are not fundamentally sound.'
Market cap of government companies has remained unchanged in the past 8 years.
Niti Aayog vice-chairman Rajiv Kumar debunked claims of jobless growth, saying how can a country grow at an average of 7 per cent without employment.
A good lifestyle, balanced diet, physical fitness and exercise lowers the risk of obesity and thus the risk of osteoarthritis of the knee, says Dr Raviraj A.
LIC is currently allowing customers to revive policies that have lapsed for more than two years.
The longer India delays in creating a manufacturing-based middle class, the more difficult it may be to create one.
A majority of the panelists agreed Gujarat has been doing better than other states on land acquisition, skill development and primary and secondary education.
Some of the top indebted companies likely to face financial headwinds in the coming quarters include NTPC, PowerGrid, Tata Steel, Adani Power, JSW Steel, UPL, and Steel Authority of India. Together these 201 companies owed Rs 14.9 trillion to their lenders at the end of September 30, 2019, up 4.1 per cent year-on-year (YoY) during the first half of FY20.
The Dyson Pure Hot + Cool is expensive but worth the price. It clearly differentiates itself from similar machines in both looks and performance, says Khalid Anzar.
Two factors play a predominant role in fetching good returns -- stock selection and allocation, suggests Sanjay Kumar Singh.
Minister says rupee and market surge caused by current recovery in the external sector, 8% economic growth possible in next three years.
Work should not flow; it should get done, said N Chandrasekaran.
'A 25 year old buying a high-value policy now will be well covered even in his 40s.'
Vapid banalities like 'We will provide our brave jawans with the best equipment in the world' encourage IAF buying sprees such as the Rafale and the Pilatus. Ajai Shukla reports
Once the child is 90 days old, parents must add her to the family health floater cover, suggests Sanjay Kumar Singh.
Bankers said India's structural story from medium to long term was intact and they were optimistic about the future.
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