15 to 25 per cent of property registrations in Mumbai come from redevelopment, with over 3,500 projects approved by May 2024.
Sales of electric vehicles (EVs) in July touched 178,948 units, marking the highest monthly sales this financial year. This represents a 27.9 per cent increase from June, which saw 139,905 units sold, according to the Vahan data from the Ministry of Road Transport and Highways. The strong performance in July contributed to more than one million being sold in the first seven months of the calendar year.
A slowdown in India's growth rate, the bank said, has also affected the growth rate of South Asia. As a result, South Asia has fallen to second place after East Asia and the Pacific.
Geopolitical events, macroeconomic data and quarterly earnings of corporates would guide the stock market in a holiday-shortened week ahead, analysts said. Stock markets will remain closed on Wednesday for Ram Navami. "This week promises to be crucial for the market as fresh worries about a potential conflict between Iran and Israel emerge.
Microsoft India on Tuesday said it has collaborated with Invest India to support tech startups in the country. As part of the partnership, the Microsoft for Startups programme will work closely with Accelerating Growth of New India's Innovations (AGNIi Mission) - a programme of the Office of the Principal Scientific Adviser to the Government of India, a statement said. Housed and executed by Invest India, AGNIi Mission helps startups become enterprise-ready.
'There will be positive growth, but if you ask me whether we are going to have the original growth rate of 8%, the answer will be, no.'
Nasdaq-listed Cognizant Technology Solutions has signed a definitive agreement to acquire global engineering company Belcan for about $1.3 billion (Rs 10,853.7 crore) in cash and stock. The transaction is expected to close in the September quarter. The total consideration includes $1.19 billion (Rs 9,935.31 crore) in cash and 1.47 million Cognizant shares, valued at $97 million (Rs 809.53 crore) based on the information technology services provider's closing share price on June 7, 2024.
>According to the latest RBI data, PPF receipts have already experienced a decline between April 2023 and February 2024. Other schemes like the Sukanya Samriddhi Account and National Savings Certificate are also witnessing reduced inflows.
Says govt is creating conditions for greater private investment
Independence Day was celebrated across states and Union territories on Thursday, as several chief ministers announced job schemes while some others vowed their support for Prime Minister Narendra Modi's vision of a Viksit Bharat by 2047.
Dr Reddy's Laboratories (DRL) is set to acquire Haleon's global portfolio of consumer healthcare brands in the nicotine replacement therapy (NRT) category outside of the US. DRL will pay a total consideration of 500 million, including an upfront cash consideration of 458 million and contingent cash payments up to 42 million based on performances in CY25 and CY26. DRL will acquire the portfolio through the purchase of shares of Northstar Switzerland SARL, a Haleon group firm.
Falling valuations, slowing funding rounds and faltering investor sentiment seem to have prompted many start-ups to lay off employees in a bid to conserve cash. The latest to do so is SoftBank-backed Cars24, a leading e-commerce platform for pre-owned vehicles, which has laid off over 600 staff, according to sources in the know. The move, they said, is aimed at conserving cash amid cautious investor sentiment and a slowdown in funding.
'Our vision for the future includes the creation of an active ecosystem, human space flight, a human space station.'
'We operate in 16 countries already, and therefore adding the UK to it, and beginning a chapter in the European continent is the next step.'
When AI is used to enhance operational efficiency, businesses can deliver the same product or service but with improved quality, faster, or even at a reduced cost
Research and development (R&D) spending by BSE 100 companies has grown steadily, rising from 0.89 per cent of revenue in FY20 to 1.32 per cent in FY24, averaging around 1 per cent over the period in-between, according to data compiled from Bloomberg and company annual reports. Also, these companies more than doubled their R&D spending in absolute terms over these five years: From Rs 25,041 crore to Rs 63,072 crore. While this reflects a prioritisation of innovation, corporate R&D investment remains relatively conservative.
This is following revival of demand from the corporate sector and small and medium enterprises (SMEs), even as a nascent economic recovery is taking shape. Credit growth of scheduled commercial banks had accelerated to 9.2 per cent year-on-year (YoY) by the end of December 2021 after breaching the 7 per cent-mark in November, for the first time since April 2020.
The size of Reserve Bank's balance sheet increased by 11.08 per cent to Rs 70.47 lakh crore as on March 2024, leading to the highest-ever dividend payout to the government, according to the central bank's annual report. In actual terms, the increase was Rs 7,02,946.97 crore over Rs 63.45 lakh crore as on March 2023.
Market benchmarks Sensex and Nifty wilted under selling pressure on Friday after a five-day rally as investors pared exposure to banking, financial and consumer durable stocks amid mixed trends in global markets. Rising global crude prices, a depreciating rupee and persistent foreign fund outflows further weighed on sentiment, traders said.
Bengaluru outpaced Mumbai, Delhi, and Pune in 2023 to become India's leading city for electric car registrations. The city's tech-savvy workforce, increased acceptability, zero road tax, subsidised electricity for EV charging, and a wide charging station network contributed to this surge. Electric car registrations in Karnataka's capital surged more than threefold in 2023 to 8,690 units, overtaking the growth witnessed in the other three cities, according to data from Jato Dynamics
The engineering and construction (E&C) sector delivered an excellent performance in the last two financial years (FY2021-22 or FY22 and FY23's nine-months) and there's reason to believe that FY24 will also see outperformance. The sector has emerged from the pandemic with stronger balance sheets and more rational cost structures. It has a big order book and it should see new order flows accelerate in FY24.
India's gross domestic product (GDP) growth slowed to 4.1 per cent in January-March 2022 period, while for the full year 2021-22 the growth stood at 8.7 per cent, according to the government data released on Tuesday. GDP at constant (2011-12) prices in Q4 2021-22 is estimated at Rs 40.78 lakh crore, as against Rs 39.18 lakh crore in Q4 2020-21, showing a growth of 4.1 per cent, as per the National Statistical Office (NSO) data. India's GDP growth has slowed for the third straight quarter.
Analysts tracking Apple said the India results were glimpses of what the company could achieve in emerging markets with a right pricing strategy for its products and local manufacturing.
The BSA Gold Star is launched....Ola Enters e-motorbikes Biz... Bajaj, TVS To Enter e2Ws Market...
Do not, however, enter expecting quick returns.
The economic growth may have slowed to 3.5 per cent in fourth quarter of 2021-22 from 5.4 per cent in the previous three-month period due to the impact of higher commodity prices on margins, decline in wheat yields and on higher base, Icra Ratings said on Monday. The agency said the hiccups in the recovery of the contact-intensive services attributable to the third wave of Covid-19 in the country may have also affected the economic growth in the quarter. Even the gross value added (GVA) at basic prices (at constant 2011-12 prices) in Q4 FY2022 seems to have eased to 2.7 per cent from 4.7 per cent in Q3 FY2022, it said.
An in-line ICICI Bank result for the quarter ended March 31, 2024, has led to analysts raising target price and earnings per share (EPS) forecast on the stock. ICICI Bank, they said, appeared least vulnerable to regulatory action on its digital offerings or for risk monitoring lapses.
The Tata group firm has enhanced its product portfolio through "targeted acquisitions" as it aspires to be a formidable player in the FMCG category, said Chandrasekaran, who is also the chairman of Tata Sons. Besides, it has stepped up the pace of innovation across markets in line with consumer trends such as health and wellness and convenience, he said in his message to shareholders in the latest annual report of TCPL.
The land acquisition bill is a catalyst to investment and passing the bill will improve India's business environment.
To minimise risk, invest in a debt fund whose duration matches your investment timeframe.
Moody's Ratings on Tuesday said India's growing water shortage can disrupt farm and industry sectors and is detrimental to the credit health of the sovereign as rising food inflation and decline in income may spark social unrest. It said decreases in water supply can disrupt agricultural production and industrial operations, resulting in inflation in food prices and hence can be detrimental to credit health of sectors that heavily consume water, such as coal power generators and steel-makers.
Slowing growth and execution challenges for Cognizant (CTSH) may well allow Infosys to overtake the former after a decade. Cognizant had marched ahead of Infosys in terms of revenue in the first quarter of financial year 2012-13. The Nasdaq-listed IT services firm's performance in Q3 and the guidance for Q4 and full-year 2022 suggest that it could take time for Cognizant to see the expected improvement in performance from its decision to restructure.
India, the world's fifth largest economy in the world, is likely to overtake Japan to become the world's third-largest economy with a GDP of $7.3 trillion by 2030, S&P Global Market Intelligence said in its latest issue of PMI. After two years of rapid economic growth in 2021 and 2022, the Indian economy has continued to show sustained strong growth during the 2023 calendar year. India's gross domestic product (GDP) is expected to grow 6.2-6.3 per cent in the fiscal year ending in March 2024, being the fastest-growing major economy this fiscal year.
'Wherever the government has provided incentives for the purchase of two-wheelers, three-wheelers, cars, buses, and trucks, it gets a push for most of these alternate fuels. '
The tide of startup-funding is turning in India, with a rising trend of overall funding while the deal sizes grow bigger. However, the spotlight now is on late-stage startups, many of which are seen to be headed for initial public offerings (IPOs). Record surge in stock markets and consistently improving performances of listed startups are understood to have turned the sentiment for the better, especially for those that exhibit a clear path to an IPO.
'We emphasise the importance of not basing investment decisions solely on electoral outcomes.' 'Instead, focusing on investing in high-quality businesses capable of prospering regardless of the political landscape is paramount.'
The Congress on Thursday accused the Modi government of aiding 'drain of wealth' from ordinary Indians to crony corporates, and said it will end this practice if it comes to power at the Centre.
Private equity firm Blackstone will buy out HP Enterprise's stake in Mphasis for up to Rs 7,071 crore, marking the largest IT deal for the US-based firm in India
Customers embarking on multi-year technology refresh cycle and their increased focus on growth and transformation (G&T) initiatives are expected to provide strong growth levers for Tata Consultancy Services (TCS) in the medium and long term, its CEO Rajesh Gopinathan said.
Equity supply may hit Rs 6 trillion soon.
