Dealers attribute the sluggishness in sales to distress in rural India as well as tepid sentiment in urban markets.
The earnings are, however, expected to be down around 2 per cent on a sequential basis due to pent-up demand getting exhausted and the adverse impact of rising metals and energy prices on consumer goods and manufacturing companies.
India is unlikely to see a repeat of the 2021 energy crisis this festive season as coal-fired power stations across the country have comfortable levels of the fuel stock to meet electricity demand of the world's fastest expanding major economy.
Infosys on Thursday cut its full-year revenue outlook in dollar terms by about 3 per cent because of mounting economic uncertainty in the euro zone, a move that did not go down well with investors.
Market breadth was negative, 1528 stocks declined for 704 stocks which advanced.
Markets gave up most of the gains made in previous session as traders' dumped frontline IT shares after Infosys reported 17% jump in net profit y-o-y, trailing street expectations.
Historically, the IIP performance has shown little or no correlation to corporate performances.
FMCG: Cut in excise duty on baby, clinical diapers, adult diapers and sanitary napkins.
This is the BJP's first full-year Budget.
The whole price index, used to measure rise in prices of a range of products in a consumer basket, stood at 9.06 per cent in May.
Bharti Airtel reported a 47 per cent year-on-year rise in consolidated revenues at Rs 15,215 crore (Rs 152.15 billion) in the September quarter.
Election results on Friday will determine the strength of the ruling coalition party Congress which will also determine market direction.
The Nifty opened on a firm note and moved between 5,913 and 5,866 as investors awaited TCS and Reliance Industries results.
India's first quarter GDP growth print was 7.9 per cent y-o-y, primarily led by urban consumption demand
India's likely medium-term potential growth will almost certainly be markedly lower than that experienced in pre-pandemic years, warns Shankar Acharya, former chief economic advisor to the Government of India.
Improvements in industrial activity and services sector mainly seems to have boosted GDP growth.
The domestic passenger traffic in July 2021 was 51 lakh, ICRA said in a release. Domestic passenger traffic on a year-on-year basis, however, spiked around 131 per cent over August 2020 traffic of 28.3 lakh, it said. The ratings agency said despite the continued recovery in the previous month, there is continued stress on demand, driven largely by the second wave of the pandemic, limiting travel to only necessary travel.
Dealers have stocked up vehicles in the run-up to a price hike, which is expected to be announced by leading players some time this month.
Meesho has emerged as the second-largest player by order share in this year's festive sales till now, surpassing Amazon, while Flipkart Group platforms topped the market in both orders and gross merchandise value (GMV), according to according to a report by consultancy firm Redseer. It said Flipkart Group maintained its leadership position with a 62 per cent market share in terms of GMV during the first week of the festive season, followed by Amazon which had 26 per cent share, while the remaining 12 per cent was distributed among other e-commerce players. In terms of order volume, Flipkart Group again leads the market with about 49 per cent share and SoftBank-backed Meesho ranks second with about 21 per cent order share, according to Redseer.
Recovery seen in Q4, companies continue to focus on enhancing cash flow
Investors are already factoring in the impact. The IT Index on the BSE exchange dipped 2.5 per cent, with Infosys, Wipro and TCS showing a decline.
Seeks 100% depreciation on hardware and peripherals, exemption of customs duty on goods imported by ISP, seeks measures to increase penetration.
There cannot be value in every stock, whether large cap or otherwise. Thus buying a stock cheap does not always translate into value buying
The double-digit growth in itself is eye-popping, given the FMCG sector has seen low single-digit volume growth in recent times.
The hotel industry seeks infrastructure status and tax breaks, considering the huge investments required to meet the growing demand, especially in the NCR region for upcoming Common Wealth Games.
The net sales growth declines 4.4% in September quarter, the second worst in eight years.
While hotels and FMCG saw weak top line growth, most segments witnessed Ebit margin contraction.
Experts expect a net loss of Rs 26.7 billion for IndiGo and Rs 10.1 billion for SpiceJet in Q1FY21 driven by low traffic volume, low fleet utilisation and poor coverage of fixed costs.
The India information technology industry, including exports and domestic market and semiconductor industry, is gaining traction despite challenges, said Azim H Premji, chairman, Wipro, at the third Freescale Technology Forum in Bangalore on Monday.
Tata Consultancy Services on Monday announced the results for Q2 FY08. The net profit is up 22.8 per cent at Rs 1252 crore (Rs 12.52 billion).
The mood at the Hotel Investment Conference South Asia (HICSA), the annual hospitality industry conference was rather upbeat. But hotel brand operators and owners remain cautiously optimistic of the outlook and are living on a hope that a third wave of the pandemic doesn't become a reality. Having just survived the unprecedented zero revenue situation, the two day confrence organised by consulting firm Hotelivate, was dotted with anecdotes and best practices adopted by the hotels of all hues.
The IIP data would be released on March 12 for the period of January 2009. Since October, RBI also has infused over Rs 4,00,000 crore (Rs 4,000 billion) by reducing ratios and short-term borrowing and lending rates.
The growth of the agriculture, forestry and fishing sectors fell to minus 2.2 per cent in the third quarter of this fiscal compared with 6.9 per cent in the year-ago period. Goldman's projection about the farm sector's growth in 2008-09 coincides with the estimate of a 2.6 per cent expansion rate by the Central Statistical Organisation.
Riding on the rising price scenario, the sugar sector can hardly expect any benefit from the Union Budget 2010-11.
During the first quarter ended June, gross tax collections fell 31 per cent driven down by a massive 76 per cent plunge in advance tax mop-up, as the country was in a full lockdown due to the pandemic.
The company, distributed lower volumes of petrochemicals but that was made up with price increases. It was the same for LPG where realisations improved by about 40 per cent on account of higher prices but volumes fell marginally.
The lockdown has taught companies a lesson or two on running business with fewer human resources. These lessons are unlikely to be forgotten, observes Mahesh Vyas.
This analysis is based on the quarterly earnings for 724 companies.
On the back of demand supply mismatch, the India's sugar prices have again begin rising up.
As the sugar industry is witnessing an up cycle, the government may not give due consideration to the demands of the Industry. Rather the government is already focusing on curbing the rising sugar prices.
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