Many individual states experienced higher inflation than the all-India figures during the financial year 2023-24 (FY24). Retail inflation figures in Telangana, Haryana, Rajasthan and Dadra and Nagar Haveli have been higher than national numbers every month of this financial year, shows a Business Standard analysis of state-wise figures, after the March inflation data was released on Friday. Experts noted that persistent high food inflation along with differences in the weights of rural and urban indices plays into the regional variation in inflation rates.
The financial numbers for 2023-24 (FY24) of the four pure-play listed asset management companies (AMCs) have enthused the Street. All firms listed robust growth in net profit and revenue both during the January-March quarter (Q4) of FY24, as well as in full FY24. The strong performance comes amid a positive growth environment for the sector, led by tailwinds such as sharp growth in assets under management (AUM) and robust performance in equity offerings.
Kolkata Knight Riders outclassed Mumbai Indians by 18 runs in the rain-hit IPL 2024 match in Kolkata on Saturday.
Verma's team is currently top of the table with two wins from three matches.
A Rs 7,056 crore outer harbour project by VO Chidambaranar (VOC) Port in Tuticorin is garnering interest from domestic and global majors in the sector, such as Adani Ports and Special Economic Zone, Singapore's PSA International, Dutch major Van Oord, JM Baxi, and JSW, among others, according to sources close to the development. The project aims to capitalise on the newfound investor interest in the region, spurred by mega investments such as the Rs 16,000 crore electric vehicle manufacturing unit by Vietnamese major VinFast, the Indian Space Research Organisation's second spaceport in Tamil Nadu's Kulasekarapattinam, and Singapore's Sembcorp's Rs 36,238 crore investment in renewable energy.
Amid the row over Congress leader Sam Pitroda's remarks, the party on Wednesday asserted that it has no plans whatsoever to introduce an inheritance tax and cited former Union minister Jayant Sinha's remarks to allege that it is the Modi government that wanted to do so.
Travis Head's aggressive fifty and a clinical showing from the bowlers helped Sunrisers Hyderabad score a fine 67-run victory over Delhi Capitals.
Djokovic backs schedule change at expanded Australian Open
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Ravindra Jadeja's superb all-rounder show powered Chennai Super Kings to a thumping 28-run victory against Punjab Kings.
A portfolio can be rebalanced by either selling a portion of the outperforming asset class or by buying more of the underperforming asset class.
India's gold imports, which have a bearing on the country's current account deficit (CAD), increased 26.7 per cent to $35.95 billion during the April-December of this fiscal due to healthy demand, according to government data. The imports stood at $28.4 billion during the same period a year ago. In December 2023, imports of the precious metal jumped by 156.5 per cent to $3 billion, as per the data released by the commerce ministry.
Defending champions Chennai Super Kings clash against Gujarat Titans in a repeat of last season's final in the IPL 2024 match in Chennai on Tuesday.
Micro-cap stocks are in the line of fire as market regulator Securities and Exchange Board of India (Sebi) is tightening its noose around investment in small-cap stocks. Given this, analysts suggest investors exit the segment, at least, for the time being. Independent market analyst, Ambareesh Baliga, for instance, said that regulators have gotten worried on the valuation front, though belated, which could prove to be the last straw on the camel's back.
The number of cyber attack cases in India increased by 15 per cent per week on an average in 2023, trailing only Taiwan in the Asia Pacific region, cyber security firm Check Point said on Monday. Organisations across the globe experienced an average of 1,158 weekly cyber attacks each, which was a 1 per cent increase in the number of incidents compared to that in 2022. "In 2023 India received 2,138 weekly attacks per organisation, which is a 15 per cent surge since 2022.
Heinrich Klaasen's entertaining half-century went in vain as Andre Russell's all-round effort steered Kolkata Knight Riders to a thrilling four-run victory against Sunrisers Hyderabad.
The ASI team, comprising more than a dozen members, reached the complex in the morning.
It was the first time Verstappen, winner of a record 19 of 22 races last year, has won the first two races of a season. He has also won 19 of the last 20.
Imad Nazir, a spirited, specially-abled nine year old from Kulgam district, is making waves with his ability to play India's favourite sport.
The similar modus operandi in all these murders has led the police to suspect the involvement of gangsters, the officer further said.
Indian wrestler Aman Sehrawat came up with a commanding performance to bag the gold medal in the Zagreb Open Ranking Series tournament, defeating China's world No. 7 Wanhao Zou 10-0 in Zagreb.
Sumit Nagal was beaten by Italy's Stefano Napolitano in the semi-finals.
Satwiksairaj Rankireddy and Chirag Shetty reached their second successive semi-final after humbling China's Ren Xiang Yu and He Ji Ting in straight games.
rediffGURU Dev Ashish answers your personal finance and mutual fund queries.
South Korean auto giant Hyundai Motor Company is considering tax implications of listing its Indian unit before taking a final call, according to sources privy to the development. Hyundai Motor is mulling an initial public offering (IPO) for its Indian arm to raise around $3 billion (at a valuation of up to $30 billion), and talks are in the early stages between the company and bankers, banking sources revealed. Hyundai Motor India Ltd (HMIL), however, declined to comment on the development.
Naomi Osaka's return a boost for women's tour, says Mouratoglou
Brokerage firms on Wednesday appeared divided in their calls on Larsen & Toubro (L&T) after the company's 2023-24 (FY24) October-December quarter (third quarter, or Q3) performance and guidance for the quarters ahead. While few stayed optimistic about the stock over future order inflow prospects, others saw increasing exposure to West Asia and fixed price contracts as a concern. In Wednesday's trade, L&T's share price closed at Rs 3,480 per piece, 4.22 per cent down from its previous day's close.
Banks, the biggest component of the Indian equity market, are now trading at a big discount to the benchmark indicesThe BSE Bankex index, which tracks the share price of the 10 top listed banks, is trading at a trailing price to earnings (P/E) multiple of 15.3X, nearly a 40 per cent discount to the BSE Sensex current P/E of 24.37X. This is the biggest valuation gap between the two indices in at least 10 years. Similarly, the BSE Bankex price to book ratio (P/B) of 2.22X is 40 per cent lower than the current Sensex P/B ratio of 3.61X.
Akash Deep had just finished his spell and was manning the boundary when he heard everyone in the Bengal dressing room clapping in unison and congratulating him.
Without bigger contributions from their senior players -- Masood and Babar Azam among them -- Pakistan may struggle to prevent the losing streak from stretching to 16 in Melbourne, for all of Hafeez's fighting words.
Most Indian chief executives are optimistic about the economy and believe it would improve in the coming 12 months, said a survey by consulting and auditing firm PwC on Tuesday. The company's 27th annual global survey polled 4,702 chief executive officers (CEOs) in 105 countries and territories, including 79 in India, from October 2 to November 10, 2023. As many as 86 per cent of CEOs in India - 30 per cent higher than a year ago - are confident that the economy would improve.
Funds raised by India Inc. through offshore loan syndication hit a 15-year high in 2023 with companies and banks raising $21.4 billion, the highest since 2007. The momentum is expected to continue in 2024 as well with over $4 billion fund raising expected in the first three months of this year. Companies raise funds, both onshore and offshore, depending on interest rates and activities. Funds raised offshore can be deployed in overseas activities.
A Delhi court on Thursday sent the four accused arrested for the shocking breach of security at the new Parliament building to the city police's custody for seven days for interrogation.
She will return to Pakistan after meeting her children in India, Anju's Pakistani husband said.
'A lot to work on but this is the blueprint of the way we want to play Test cricket and hopefully we'll keep doing that.'
Both Sen and Srikanth are fighting to be inside the top 16 by April 28 next year to qualify for the Paris Olympics.
The stock of Godrej Consumer Products Limited (GCPL) fell about 3.7 per cent in trade after its Q3FY24 earnings disappointed brokerages and led to downgrades. Further, the stock, after a 15 per cent run-up over the past month prior to Monday's correction, had already factored in the upside from the business front. Its peer in the consumer space, Marico, too, saw a 4 per cent drop in its stock price.
Among the Sensex firms, NTPC, Tech Mahindra, UltraTech Cement, Bajaj Finance, ITC, Bajaj Finserv, Axis Bank and Power Grid were the major gainers. On the other hand, Mahindra & Mahindra, HCL Technologies, Titan and IndusInd Bank were among the laggards.
PVR-Inox is in an inherently fickle business. If there is a string of flops, the box office collections will be weak. Conversely, Q2FY24, which witnessed several hits, has brought about an upside in revenues. However, the merger has led to market share gains and synergies that helped bring breakeven down to approximately 20 per cent occupancy.
'In the short term the relationship will get worse.'
