State Bank of India-led public sector banks posted a record cumulative profit of Rs 49,456 crore in the second quarter of the current fiscal, reflecting a 9 per cent year-on-year growth despite two lenders reporting a decline. All 12 public sector banks (PSBs) together made a profit of Rs 45,547 crore in the September quarter of FY25.
'Trump does have a master plan in mind to put pressure on India with the additional tariff of 25 per cent to get Modi to persuade Russian President Vladimir Putin to freeze the Ukraine war.' 'It has not worked so far. By end-September only we'll know for sure the future trajectory of India's oil purchases from Russia,' observes Ambassador M K Bhadrakumar.
India's top IT services firms delivered single-digit revenue growth in April-June, capping off a mixed, somewhat-sobering quarter as macroeconomic instability and geopolitical tensions weighed on global tech demand and delayed client decisionmaking. Management commentary painted a mixed picture, caution prevailed, yet industry CEOs also emphasised cost optimisation, vendor consolidation, and opportunities in AI makeovers.
'Non-BJP state governments and their leaders, navigating today's political landscape, know well they have no clue what awaits around the corner.' 'The chances of charges pressed and oneself getting parked in custody play out on an uneven playing field,' points out Shyam G Menon.
There is no guarantee that if we speak in only Indian languages, all our faults will be washed away and India will shine. Why then do they bully and belittle the English-speaking? asks Shyam G Menon.
The specter of how the Munambam issue was exploited during the November by-elections is proof of the price Kerala is paying for its emergent politics. Controversies become the stuff of slow-burn and brinkmanship. The former promises mileage; the latter searches for an advantage, notes Shyam G Menon.
Iron ore mining major NMDC's results for the April-June quarter (Q1) of FY25 were better than estimates. Weak volumes were balanced off by higher realisations, better average selling price (ASP) and lower royalties which boosted bottomline. The revenue was in line with estimates at Rs 5,400 crore, flat year-on-year (Y-o-Y) and down 17 per cent quarter-on-quarter (Q-o-Q).
'Here are 25 stories special to me for one reason too many,' says Sukanya Verma who scored 25 years writing about the movies last week.
You don't prep for 2028 but for 2040, or even 2044. Sustained sporting excellence is based on mass support, grassroots development, and funding - and it is this trifecta India needs to work on, systematically, asserts Prem Panicker.
For players like Toyota Kirloskar and Ford, the contribution of UVs to overall sales is now well over 60%.
In Phase 6, indications are that the BJP, which is defending 40 seats, will lose in double digits and gain in single digits. Not good, if you are the ruling party scrambling to earn a working majority, with just one phase left to go, argues Prem Panicker.
Hindustan Unilever (HUL)'s decision to split its beauty and personal care division and place a renewed focus on digital has been driven by its aim to serve the consumer of tomorrow, say analysts and brand experts. HUL managing director and chief executive officer Rohit Jawa is looking to make the company 'future ready', and while these bets are not for the short-term, they will eventually pay off as the Indian consumer is young and digital friendly, they add. "Rohit Jawa comes with digital experience and he is preparing to steer HUL into serving the future consumer who is more digital friendly," said Sachin Bobade, vice-president at brokerage firm Dolat Capital.
'Are we so ready to believe that in this country whose virtues we constantly shout from the rooftops, there is no single person -- other than Modi -- in a minimum of 272 elected MPs with the talent and ability to lead this country?' asks Prem Panicker.
Billionaire Mukesh Ambani's Reliance Industries Ltd is the most valuable private company in the country, as per Hurun India's 2022 Burgundy Private Hurun India 500 list. The list, which was released on Tuesday, stated that with a value of Rs 16.4 lakh crore, Reliance is India's most valuable company, followed by Tata Consultancy Services (TCS) with Rs 11.8 lakh crore and HDFC Bank with Rs 9.4 lakh crore. Reliance is also the highest taxpayer with a payout of Rs 16,297 crore and the most profitable company with a bottomline of Rs 67,845 crore in 2022-23.
The rally in PSBs, analysts feel, was more a knee-jerk reaction to the development, and the actual benefits will start to accrue once the addition takes place in 2024. "The actual benefit for banks from the inclusion in JP Morgan's EM Index will accrue from June 2024 onwards. "Until then, the larger fundamentals of the market will dictate the moves. "Once the initial euphoria subsides, bond markets will look to global cues which may trigger fresh selling," said Siddharth Khemka, head of retail research, Motilal Oswal Financial Services.
Disillusioned with the 'politics' in South African cricket administration, Brian McMillan decided to stay away from the game.
Prime Minister Narendra Modi on Sunday called for a global framework for ethical use of Artificial Intelligence (AI) as he flagged concerns surrounding bias in such modern technologies and their impact on the society. Days ahead of the G20 Summit, the prime minister also made a strong case for developing an integrated approach to deal with issues concerning cryptocurrencies. Modi, addressing B20 Summit India 2023 organised by CII, said India is preparing a global framework for Green Credit and urged industry leaders to adopt life and businesses with emphasis on planet positive actions.
Modi called business communities and governments to work together to ensure usage of ethical AI as "we have to sense the potential disruptions in different sectors. This problem has to be solved under the global framework."
Tata Power declared encouraging results for the April-June quarter (Q1) of the 2023-23 financial year (FY24). The firm's revenue rose 5 per cent year-on-year (Y-o-Y) to Rs 15,210 crore. It was driven by higher sales to distribution companies (discoms) and capacity addition in renewables. Company's adjusted profit after tax (PAT) rose 3 per cent to Rs 906 crore with reported PAT at Rs 1,100 crore on a one-time gain of Rs 235 crore.
Telecom infrastructure player Indus Towers has been largely ignored by investors with occasional bursts of trading when there's news flow. For example, the stock fell from Rs 188 (Jan 1, 2023) to Rs 135 (Jan 27) and then bounced back to Rs 165 in early February as the Government of India (GoI) converted Vodafone Idea's (Vi) debt into equity and Bharti Airtel pushed up its direct stake in Indus to 47.95 per cent. The cash-strapped Vi holds 21 per cent stake in Indus Towers and Indus also has substantial receivables to come in from Vi which is a negative overhang.
'If a taxpayer opts for the new tax regime once, he can only switch back to the old tax regime once in his lifetime.'
Several changes were made to the new income-tax regime in Budget 2023. The old income-tax regime was not tinkered with and is still available.
'Bottomline, hairline and waistline -- you have to watch them always.'
The alacrity with which regional States responded to Delhi's invite signals that expectations are high regarding an Indian role in the efforts to stabilise the situation in Afghanistan, observes Ambassador M K Bhadrakumar.
Bringing a local or non-Chinese partner onboard opens up the possibility of legal recourse to have the ban diluted or revoked. However, the process of going through a review committee and setting up local servers might take at least 3-6 months.
Adobe has acquired Virtual Ubiquity and its online word processor, Buzzword. It has also added a new service Share, which allows users to share, publish and organise documents online.
Former Australia batsman-turned-commentator Dean Jones is convinced that the Indian team, during their ongoing tour Down Under, has been solely concentrating on the Twenty20 series with the World T20 just eight weeks away.
Engineering giant Larsen & Toubro (L&T) handed out a pay cheque of Rs 61.27 crore to its chief executive officer (CEO) and managing director (MD) SN Subrahmanyan in the last financial year (FY22), which is a near 115 per cent hike over FY21, as executive compensation at India Inc comes under sharp focus after two years of Covid-19. In fact, the total compensation of L&T's executive directors (including Subrahmanyan) in FY22 was 120 to 670 times the median remuneration of the company's employees, data from its FY22 annual report shows. This points to sharp hikes that the top management saw in their remuneration during the period, experts in human resources said. In FY21, L&T's executive compensation was 56 to 337 times the median remuneration of company employees.
The largest financial institution, LIC, led the list of companies that paid up their advance tax this morning, with a spike in the amount to Rs 1,200 crore (Rs 12 billion) from Rs 1,070 crore (Rs 10.70 billion) a year ago, a senior income tax official said in New Delhi on Thursday.
There has been a sharp improvement in the productivity of most of the companies, thus making the bottomline growth even stronger.
'Day before yesterday I had spoken to him, asking him to come on my YouTube channel.' 'He had said, 'Anytime for you Kiri bhai'.'
Gen Naravane also said the Army will enhance combat capabilities along the border with China so that it is fully prepared to deal with any security challenge.
With the rise in interest rates, bond yields have been on the rise; this will dent banks' treasury profits. Also, many retail borrowers may find it difficult to service their loans when the loan rates rise, points out Tamal Bandyopadhyay.
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