'People are blowing up their entire retirement fund; they are selling their land and house to spend on one day for a marriage.'
For the first time in history, the luxury car market is poised to cross the sales mark of 50,000 units in 2024, with Mercedes leading the way
Larsen & Toubro, Axis Bank, Reliance Industries, UltraTech Cement, Mahindra & Mahindra, IndusInd Bank, ICICI Bank and Tata Steel were the other big gainers. Sun Pharma, HCL Technologies, Asian Paints, Nestle and Infosys were the laggards.
From the Sensex pack, Tata Motors slumped over 7 per cent. Adani Ports, Tata Steel, SBI, Power Grid, JSW Steel and Maruti were the other big laggards. However, Hindustan Unilever and Nestle ended in positive territory.
Mergers and acquisitions (M&As) in India have moved into the slow lane, dropping 43 per cent in terms of deal value to touch $13.37 billion since January this year to date, compared to the same period in the last year. According to data sourced from Bloomberg, Indian companies reported deal value worth $23.5 billion between January and March 22, 2023. Data Infrastructure Trust's acquisition of American Tower Corporation's India telecom towers business for $2.5 billion was the top deal for the ongoing quarter so far, followed by the Highway Infrastructure Trust's acquisition of PNC Infratech's road projects for $1.08 billion.
Trade generic drugs (medicines that are sold directly through distributors) are fast becoming a key segment for domestic pharma firms as volume growth slows in the overall market. Big companies like Cipla and Alkem have a significant presence in the segment but recently, players like Torrent Pharmaceuticals and Dr Reddy's Laboratories (DRL) have also entered this market. What is driving big pharma's focus on trade generics? The volume growth in the Indian Pharma Market (IPM) has come down from 5.6 per cent in FY16 to 0.1 per cent in FY23.
For Yogi Adityanath the successful management of the fair is a crucial part of building 'Brand UP' and making the state a $1 trillion economy.
After remaining in the positive zone for three months, India's exports contracted 1.2 per cent to $33.98 billion in July, while the trade deficit widened to $23.5 billion.
Benchmark BSE Sensex declined for the fourth day in a row on Wednesday due to selling in financial and banking shares and the government's move to hike securities transaction tax and short term capital gains tax. The 30-share BSE Sensex declined 280.16 points or 0.35 per cent to settle at 80,148.88 with 19 of its components closing lower and 11 with gains. During the day, it tumbled 678.53 points or 0.84 per cent to 79,750.51.
Even as India overtakes Japan in automotive sales in 2022, moving to third place for the first time, oddly enough the country's biggest motor show is going to see some big hitters give it a clear miss. Some prominent automotive brands have cited high event costs, negligible returns on investment, poor event management, and unfavourable location as reasons for their reluctance to participate. Major pure-play electric two-wheelers, too, are riding past this year's edition of the Auto Expo.
The government is expected to outline a policy framework for artificial intelligence (AI) at the annual India Mobile Congress (IMC) 2024, beginning Tuesday, officials said. Apart from industry participation, the four-day event will feature booths from over 15 ministries showcasing how AI is being integrated into their departments.
The Olympic table tennis tournament will take place at the Paris Expo Porte de Versailles from July 27 to August 10.
US tech giant Microsoft is in the final stages of talks with the Telangana government to set up a data centre with a total investment of Rs 15,000 crore. According to sources in the state government, the company has zeroed in on a land parcel near Hyderabad for the facility. "In the information technology (IT) space, Telangana is already seeing some major investments. "Microsoft is establishing its data centre here, and it may come out with a public announcement soon," said a source.
The year was rich in content as far as Web series were concerned.
'The noise that we are hearing is because the five big IT players are not hiring significantly.'
India is the third-largest domestic airline market in the world, up from number five position a decade ago, according to analysis based on OAG data. The data shows India's domestic airline capacity doubling in a decade from 7.9 million in April 2014 to 15.5 million in April 2024. In reaching the third slot, India has replaced Brazil (pushed to fourth place with 9.7 million) and Indonesia (relegated to fifth in the rankings with 9.2 million).
'We started AgniKul to show that space transportation should be as simple as road transportation.'
'We are in a position to start due diligence and private data room access shortly.'
The Indian Space Research Organisation (ISRO) will perform the final manoeuvre on Saturday to inject Aditya-L1 spacecraft -- the first space-based Indian observatory to study the Sun -- into its final destination orbit, some 1.5 million kilometres from the Earth.
The voter turnout recorded in the 2019 assembly polls was around 68 per cent.
ITC, State Bank of India, HCL Technologies and IndusInd Bank were the other big laggards. NTPC, UltraTech Cement, HDFC Bank and Mahindra & Mahindra were among the gainers.
'Invest only in stocks of those companies that deliver on earnings and there is earnings visibility too for the next few quarters.'
It may plan a significant hike in budgetary support aimed at completing the balance 8.4 million dwellings by March 2024.
Billionaire Mukesh Ambani on Thursday unveiled the next phase of growth at Reliance Industries Ltd, with retail and telecom worth over $100 billion each, doubling revenues and pre-tax profit in 3-4 years, new energy business becoming profitable by 2031, and core oil and chemical business continuing to be the robust growth engine. The sprawling conglomerate with interests in refining, oil and gas, petrochemicals, telecom, retail, and media is on track to more than double in size before the end of the decade, Ambani, chairman and managing director of Reliance, told company shareholders.
Whether it's Carrefour, Ford, or other foreign majors, they are ready to adjust their strategies and design their plans in a way that would address the Indian consumption story.
The Irish defeated Pakistan less than a month ago, and their propensity to surprise major opponents is something India should be concerned about.
Many people posted screenshots of the alleged MobiKwik user data, which, according to sources, was up for sale for 1.5 bitcoin or about $86,000.
'In India, managers and the leadership almost glorify overworking.'
HAL's sustained, long-term income will come from the design, development, manufacture, overhaul, and upgrade of a family of helicopters designed for deployment on India's 21,000-foot-high Himalayan frontier with Pakistan and China.
In previews of Q2FY25 and beyond, industry analysts are expecting a turnaround for IT services. High teens earnings per share or EPS growth is expected for the next two-three financial years. The hopes are backed by deal wins of above $100 billion as at Q1FY25, up 16.6 per cent year-on-year ( Y-o-Y).
'I made it very clear even at the casting process that there was going to be a lot of nudity.' 'And I wanted to be sure that it would be done with ease.'
RBI Governor Shaktikanta Das on Friday said the entry of big tech firms into the financial sector poses systemic concerns like overleveraging at the borrowers' ends.
From connectivity woes to infrastructure advancements and the startup boom, there is a gulf between claims and reality in India's economic landscape, points out Devangshu Datta.
India has lost 1,059 tigers since 2012 with Madhya Pradesh, which is known as the 'tiger state' of the country, recording the highest number of deaths of striped felines.
For those looking for more affordable options, purchasing an under-construction property could be a smart move, as these generally cost less than ready-to-move-in properties.
'20 per cent of the global AI researchers are of Indian origin, and we should bring them back.'
The Bharatiya Janata Party on Tuesday clinched a stunning hat-trick win in Haryana overcoming anti-incumbency and dashing Congress' hopes of a comeback while the National Conference-Congress combine pulled off a spectacular victory in maiden elections in Jammu and Kashmir after abrogation of Article 370 in 2019.
Agarkar said that the IPL had become a huge platform to spot talent but what mattered most was a strong temperament, which would set them apart from the rest.
'The dakiyas will be our partners, receiving credit proposals from micro-enterprises at the grassroots level.'
The government on Friday scrapped a minimum price threshold that it had set previously for exports of onion as it looked to pass on the benefit of international glut to Indian farmers. The government had previously fixed a $550 per tonne as the minimum export price (MEP), which essentially meant farmers could not sell their produce overseas at lower than this rate.
