Mark Webber can expect a new Red Bull contract to be heading his way after team boss Christian Horner said on Thursday that he was not looking to change a winning line-up.
After outperforming the broader market and their public sector peers for the better part of the post-Lehman period, private sector banks - such as HDFC Bank, ICICI Bank, Axis Bank, and Kotak Mahindra Bank - are now underperforming. Last week, the Nifty Private Bank index was up just 6 per cent year-to-date in the calendar year 2021, against nearly 13 per cent rally in the Bank Nifty and a 15 per cent rise in the benchmark Nifty50. Public sector (PSU) banks, such as State bank of India, Bank of Baroda, and Punjab National Bank, are now rally leaders and outperforming the broader market. The Nifty PSU Bank index was up 42 per cent since the beginning of this calendar year. But on a longer term, the Nifty Private Bank index is up 101 per cent since March 2016, against a 118 per cent rally in the Bank Nifty and just 2 per cent rise in the Nifty PSU Bank index in the period.
India Inc's net profit as a percentage of the country's gross domestic product (GDP) is just shy of reaching 5 per cent, bolstered by strong earnings growth in the second quarter of 2023-24. Analysts interpret this as an indication that a corporate profit upcycle is in progress, with projections suggesting that this share could exceed 8 per cent within the next five years, driven by bullish earnings growth expectations. "We believe we are only halfway through a profit cycle, with the profit share in GDP rising from a low of 2 per cent in 2020 to about 5 per cent currently, and likely heading to 8 per cent in the coming four to five years. "This implies about 20 per cent compounding of earnings growth. "Underscoring this forecast is the start of a new private capex cycle, under-geared balance sheets, a healthy banking system, lower corporate tax rates, improving terms of trade, and structural consumption demand outlook albeit somewhat offset by likely consolidation in government deficit," said Ridham Desai, managing director, head of research, Morgan Stanley India in a note.
Sebastian Vettel stormed to victory at the Malaysian Grand Prix on Sunday, leading home a Red Bull one-two ahead of Mark Webber with Nico Rosberg completing the podium for Mercedes.
Verstappen won a sprint race on Saturday to put Red Bull on pole position
Carlos Sainz put Ferrari on pole position for the US Formula One Grand Prix in Austin, Texas, on Saturday, with Red Bull's double World champion Max Verstappen joining the Spaniard on the front row.
Formula One World champion Sebastian Vettel drove his new Red Bull for the first time on Thursday with the team saying they were on course to tick all the right boxes in pre-season testing at Jerez.
'Modi's finest political legacy ought to be a border settlement with Beijing,' asserts Ambassador M K Bhadrakumar.
