FY17 GDP growth faces cash crunch heat
Cement companies posted mixed figures for the first quarter of the 2023-24 financial year (Q1FY24). Volume growth was robust at 17 per cent year-on-year (Y-o-Y) - on an aggregate basis - for 15 cement companies, with revenue growth at 15 per cent. Aggregate earnings before interest, taxes, depreciation, and amortisation (Ebitda) were up 8.8 per cent Y-o-Y and 1.2 per cent quarter-on-quarter (Q-o-Q).
Richest Indian Gautam Adani's group, which has grown on acquisitions, has fairly solid fundamentals but debt-funded future acquisitions can start putting pressure on ratings, S&P Global Ratings said on Thursday. Starting out as a commodities trader in 1988, the Adani group has diversified from mines, ports and power plants into airports, data centres and defence. It recently forayed into the cement sector with a $10.5 billion acquisition of Holcim's India units and is also looking to set up an aluminium factory. Most of this expansion has been funded by debt.
The benchmark BSE Sensex could dive to 22,000 levels by end of the current fiscal.
Can Nitishbabu create an anti-BJP phalanx like Jayaprakash Narayan did in 1977 or will his efforts come undone by Opposition leaders' political ambitions and, of course, the BJP's agency-aided campaign of intimidation?
Chief minister aspirant and Karnataka state Congress president D K Shivakumar on Monday cancelled his Delhi trip, hours after confirming he would be flying to the national capital, fuelling speculation that all is not well in the ruling camp over the CM contender issue.
A day after announcing withdrawal from its chip-making JV with Indian conglomerate Vedanta, Foxconn on Tuesday said it is working on plans to apply for incentives under semiconductor and display fab programme, as the contract manufacturer pledged its commitment to India. The Taiwanese electronics manufacturing giant said it has been actively reviewing landscape for optimal partners. The comment assumes significance as Foxconn has pulled out from the $19.5 billion semiconductor JV with Vedanta.
Jio Financial Services, a unit of Mukesh Ambani's Reliance Industries (RIL), got valued at Rs 1.66 trillion ($20 billion) following an hour-long special trading session conducted by stock exchanges on Thursday. Shares of RIL's unit got priced at Rs 261.85 apiece - higher than analysts' expectations of Rs 134-224 per share. The price was arrived at after calculating the difference between RIL's Wednesday (July 19) close of Rs 2,840 and Rs 2,580, the price discovered during the first-of-its-kind pre-trade session.
On the face of it, capital protection schemes of mutual funds look good. But are they really what they are billed to be? Find out if you should buy
The Mumbai-based brokerage has constructed India Family Firm Index out of listed companies.
Amid signs of factionalism within the state unit, Kharge is likely to instruct the party leaders to work in a united manner for ensuring victory.
While small-caps have delivered higher returns than their large-cap peers, investors would do well to recognise the incremental risk of investing in these companies.
The new mantra was to align Apple's ambition with the government's, focusing on Modi's favourite themes of Make in India, employment generation and India as a high-tech export hub.
'If we have to restrict and fight terrorism, first and foremost, we have to ensure communal harmony in the country.'
Devanik Saha wonders if saffronisation of India is on the rise
Bharatiya Janata Party on Friday launched a scathing attack on Janata Dal-United leader Nitish Kumar, accusing him of breaking ties with it to pursue his 'personal ambition' of becoming prime minister even as it asserted that its 'Vijay Rath' would roll in Bihar when Assembly polls are held there later this year.
Pitching for increased foreign investment for a growth of 9 to 10 per cent, Prime Minister Manmohan Singh on Monday said India will have to pay more attention to the Asia-Pacific region but asserted that the country's "strategic autonomy" would not be compromised.
The P-75 index, a subset of BSE 500 stocks, has severely underperformed the broader market across time horizons
'You are an instrument at the hands of one man with one ambition -- to resurrect the Soviet Union... For ambitions of one man, we are paying a very high price.'
India's historical focus on its continental borders has overshadowed its maritime ambitions, but that is changing quickly, notes Ajai Shukla.
Former Indian cricketer Sachin Tendulkar has joined pre-owned car retailing platform Spinny as a strategic investor and lead brand endorser, the company said in a release on Tuesday. Spinny, however, did not disclose the amount of investment by Tendulkar in the company. Spinny recently became a Unicorn with the closing of a $283 million Series-E round of funding, which took the total capital raised by the platform to more than 530 million and giving it a valuation of $1.8 billion.
The sentiment around Indian equities remains positive and unchanged.
There was no immediate response from the Aam Aadmi Party over the matter.
With the assembly polls only two years away, in 2026, any demoralising defeat in 2024, would challenge not only the party's continued relevance but also EPS's leadership, asserts N Sathiya Moorthy.
Prithvi, who turns 22 on November 9, bought the BMW 630i M Sport car, which costs around Rs 68 lakh (Rs 6.8 million).
Parliament has cleared the Mines and Minerals (Development and Regulation) Amendment Bill, 2023, recently. The objective of the Act is to invite investments from the private sector, including foreign companies, for mining minerals such as lithium and other critical minerals. Other than lithium, some of these minerals were classified as atomic minerals, including beryl and beryllium, niobium, titanium, tantalum and zirconium.
This is the first meeting between Gandhi and Kumar since the latter walked out of the National Democratic Alliance in Bihar and formed a 'Mahagathbandhan' government with the Rashtriya Janata Dal, the Congress and outside support of the Left.
Capital markets regulator Sebi has amended norms to bring buying and selling of mutual fund units under the ambit of insider trading rules. At present, insider trading rules are applicable to dealing in securities of listed companies or those proposed to be listed, when in possession of Unpublished Price Sensitive Information (UPSI). The units of mutual funds are specifically excluded from the definition of securities under the rules.
Mr Adani has a fight on his hands. It is not a fight to the death, asserts T N Ninan.
It was a roller-coaster week for the markets, amid talk of a fiscal stimulus by the government. Saurabh Mukherjea, chief executive officer, and Prashant Mittal, strategist, at Ambit Capital tell Puneet Wadhwa the recent flows into equity mutual funds are largely speculative in nature and pose a risk of reversal.
Bengaluru-based Prestige Estates Projects recently said it aims to double its annual residential sales bookings to Rs 25,000 crore by FY26 from its current markets and others such as Mumbai, Pune and National Capital Region (NCR). The company's chairman and managing director Irfan Razaq tells Raghavendra Kamath about his plans to achieve the target and outlook for the real estate market.
'My wife, family members as well as members of the workers will be trustees.' 'The trust will take all decisions -- no family member can individually take any decision.'
Ahead of the inaugural edition of the Women's Premier League, Jemimah Rodrigues opened up on how the WPL is helping the Indian players deal with the T20 World Cup semifinal loss.
Global tech major IBM, which employs over a lakh individuals in India, on Wednesday termed moonlighting an unethical practice. Moonlighting, the practice of taking up secondary jobs after the regular work hours, has been highlighted by many tech companies of late. IBM's managing director for India and South Asia, Sandip Patel said, at the time of joining, the company's employees sign an agreement saying they will be working only for IBM.
Infosys, HCL might fare marginally better than TCS.
Micron plans an assembly testing, marking and packaging project of $1 billion, and talks are on to set up a memory chip plant for captive requirements.
The Tata group-owned Air India will induct over 90 aircraft in two years as it looks to widen its footprint and grab a larger market share. The plan includes 56 planes from the mega aircraft order that the airline has now finalised with Airbus and Boeing. These will be in addition to previously announced leases of 36 planes that include Airbus A320Neo, A321Neo, and Boeing 777 aircraft.
The Tamil Nadu assembly on Monday adopted a resolution to urge the Centre and the President to fix a timeframe for state governors to approve bills adopted by the respective houses.
'It is requested that listed equity shares or units of equity-oriented fund schemes be exempted from capital gains tax (LTCG) if equity shares or mutual funds units are held for at least three years.'
In a boost to the embattled Adani Group, Mauritian Financial Services Minister Mahen Kumar Seeruttun has told the nation's Parliament that Hindenburg Research's allegations of the presence of 'shell' companies in the Island nation are 'false and baseless' and that Mauritius was in compliance with OECD-mandated tax rules. US short seller Hindenburg on January 24 alleged that billionaire Gautam Adani used shell companies based in Mauritius to manipulate stock prices of his Indian-listed companies.
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