The stellar rise in corporate earnings in financial year 2021-22 (FY21) and FY22 did not result in a corresponding boom in capital expenditure (capex), with listed companies' investment in fixed assets rising just 2.3 per cent year-on-year (YoY) in FY22, growing at the slowest pace in the last six years. In comparison, the firms' combined net profit jumped 63.5 per cent YoY in FY22, while net sales increased 31.1 per cent - the fastest pace in over a decade. The 955 non-financial companies in Business Standard's sample reported combined net profit of Rs 7.18 trillion in FY22, compared with Rs 4.39 trillion in FY21 and Rs 2.59 trillion in FY20.
Punjab Congress leader Navjot Singh Sidhu met party general secretary Priyanka Gandhi Vadra on Wednesday morning, and is learnt to have discussed his role in the revamp in the party's state unit ahead of assembly polls.
A day after Gujarat recorded its highest one-day surge of 17,119 new cases, five eminent doctors who are members of the task force spoke to the media.
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The Mizoram government is ready to withdraw the first information report (FIR) filed against Assam Chief Minister Himanta Biswa Sarma, Chief Secretary Lalnunmawia Chuango said on Sunday.
They have also taken help from Soumyadeep Roy and Kamlesh Mehta to shortlist the needy ones from across the country.
With regard to his investment in Ola, Bansal said that on the one hand, the ride-hailing major had emerged as a global force in the mobility space and on the other it continued to build deeper for various needs of a billion Indians through its platform. This is the largest funding by an individual in the app cab.
Just how are film folk celebrating Diwali? They tell us with pictures from their lives.
Foreign direct investments into the country is on the rise, jumping to $12.1 billion in May this year, Commerce and Industry Minister Piyush Goyal said on Monday. He also said the government is working on a mission mode to achieve exports target of $400 billion in 2021-22. "India has received the highest ever FDI inflow in 2020-21. "It surged by 10 per cent to $81.72 billion and FDI during May 2021 is $12.1 billion, i.e. 203 per cent higher than May 2020," he said while addressing a meeting of different industry associations on promoting exports.
The decision was taken at a meeting of Sanyukt Kisan Morcha, an umbrella body of 40 farmer unions protesting at various Delhi border points against three farm laws.
Analysts suggest investors remain in a wait-and-watch mode and not jump in to buy stocks across-the-board.
There is a two-minute footage about Choksi in the series which allegedly shows him in a bad light and therefore, could affect the various proceedings against him in India.
Tier-II and tier-III towns have a reason to rejoice.
For every one experienced candidate being recruited by e-two wheeler companies, 10 have no prior experience; recruitments are for skilled, low-end jobs, not for managerial or supervisory roles.
In a statement, the Federation of Resident Doctors' Association said the decision has been taken in view of the developments in the last few days in connection with the issue, and the death of chief of defence staff General Bipin Rawat and others in a helicopter crash on Wednesday.
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Out of 11 companies that got listed in 2019, nine have outrun the market by gaining more than 10 per cent against their respective issue price.
For now, Bounce, Shuttl, Fab Hotels, Instamojo, Zomato, Curefit, and HealthifyMe, among others, are going for salary deductions. Most of the consumer internet start-ups, besides those who are in the grocery delivery, education tech, and video conferencing business, would ultimately lay-off people and cut back salaries.
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.
Johnson will be the chief guest at the event next month.
The Dominica high court has granted bail to fugitive diamantaire Mehul Choksi, allowing him to travel to Antigua and Barbuda for treatment of his neurological condition, local media there reported. The high court has granted a consent order permitting Choksi to go to Antigua, where he has been staying as a citizen since 2018 after he left India, after depositing Eastern Caribbean Dollars 10,000 (approximately Rs 2.75 lakh as per exchange rate) as bail money, Antigua Breaking News reported. The court has also stayed the ongoing trial before a magistrate for his alleged illegal entry into Dominica on May 23, it said.
Air India Chairman Rajiv Bansal has been appointed as the new aviation secretary as part of a major top-level bureaucratic reshuffle effected by the Centre on Wednesday. K Rajaraman, additional secretary in the department of economic affairs, has been appointed as secretary, department of telecommunications, a personnel ministry order said.
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Antigua and Barbuda Prime Minister Gaston Browne has asked neighbouring Dominica, where fugitive businessman Mehul Choksi was caught, to hand the diamantaire over to India directly, local media reported.
The industry may account for just 0.05 per cent of the total volume of single-use plastics in the country. And the product it uses is just one among the 22 - including spoons, forks, plates, knives and trays - that will be banned across the country from July 1 by government order. Yet, it is the plastic straw that is at the centre of public focus as fast-moving consumer goods (FMCG) companies make a last-ditch effort to get the government to extend the deadline.
OlaCabs' hyper-growth and an ambitious plan to expand to 100 cities by the end of 2015 are perhaps what attracted Japan's richest man, Masayoshi Son, chairman of telecom and media group SoftBank Corp, to announce an investment of $210 million (around Rs 1,260 crore) in the company.
The wholesale price-based inflation accelerated to a record high of 12.94 per cent in May, on rising prices of crude oil and manufactured goods. Low base effect also contributed to the spike in WPI inflation in May 2021. In May 2020, WPI inflation was at (-) 3.37 per cent. This is the fifth straight month of uptick seen in the wholesale price index (WPI)-based inflation. In April, 2021, WPI inflation hit double digit at 10.49 per cent. "The annual rate of inflation, based on monthly WPI, was 12.94 per cent for the month of May, 2021 (over May, 2020) as compared to (-) 3.37 per cent in May 2020.
Super-fit and bubbly supermodel Khushboo Kankan from Lucknow talks about fitness, lifestyle and what fashion means to her!
Eight designers. An NGO. Special showstoppers.
For all those auto enthusiasts who thought Mahindra have only been manufacturing Jeeps and trucks in the '90s, Timeless Mahindra offers plenty of interesting surprises, discovers Rajesh Kareka/Rediff.com.
The Made in Heaven star looks regal on the latest cover.
Move can also bring a huge change in the way business is done in India, where firms use multiple current accounts, often for even individual projects, making them difficult to monitor.
The output of eight core sectors grew by 16.8 per cent in May, mainly due to a low base effect and uptick in production of natural gas, refinery products, steel, cement and electricity, official data released on Wednesday showed. The eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity had contracted by 21.4 per cent in May 2020 due to the lockdown restrictions imposed to control the spread of the COVID-19 infections. In March this year, these key sectors had recorded a growth of 11.4 per cent, and 60.9 per cent in April.
As a tech services company, Ola has never been in hardcore manufacturing. And unlike in ride hailing, which is a two-player market (Uber is the only other competitor), in two-wheelers it faces many entrenched players. But most of all, rivals say Ola's targets are out of sync with most, even ambitious, projections.
Love is in the air... and on social media!
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Bollywood stars posted adorable pictures of their daddies on Father's Day.
