The BSE Mid-and Small-cap indices outperformed their larger peers rising 72 per cent and 52 per cent, respectively, during Samvat 2070.
Losers include ONGC, Bajaj Finance, Reliance, SBI, Hero MotoCorp, ICICI Bank, L&T, Vedanta, Yes Bank and Axis Bank, falling up to 2.54 per cent. On the other hand, Tata Steel, PowerGrid, HCL Tech, Kotak Bank and Maruti were the top gainers on Sensex, rising up to 2.31 per cent.
The move is likely to force the government to take a faster decision.
Highlighting the role of MSMEs in enhancing exports and helping the country achieve self reliance, Union Minister Nitin Gadkari on Monday said India does not need to import from China. "Already in automobile sector, in many sectors now, in agriculture, automobiles, everywhere, we have already found the solutions. Now we don't need to import from China," said the minister. He observed that India was exporting a lot of items instead of importing them.
'The much-awaited decision could be a welcome change at a time when the Indian armed forces are crying for self-reliance and the defence industry is looking forward to more indigenisation,' notes Nitin A Gokhale.
Discussing the prospect of more reform earlier this month, telecom minister Ashwini Vaishnaw announced a delay in the 5G spectrum auction. India's telecom sector regulation has to be benchmarked with the global best, he said. It's another matter that many countries have either introduced or are about to roll out 5G services that will enable cutting-edge tech in diverse areas. For India, too, it will mean a lot for healthcare, robotics and unleashing a new chapter in Digital India perhaps.
In big bang reforms, the Union Cabinet on Wednesday approved a relief package for the telecom sector that includes a four-year moratorium on payment of statutory dues by telecom companies as well as allowing 100 per cent foreign investment through the automatic route. Briefing reporters on the decisions taken by the Cabinet, Telecom Minister Ashwini Vaishnav said nine structural reforms for the telecom sector were approved. The definition of AGR, which had been a major reason for the stress in the sector, has been rationalised by excluding non-telecom revenue of telecom companies.
Profit taking in index heavweights RIL and HDFC weighed on sentiment while ICICI Bank surged 7%.
Despite presiding over scores of factories in what is today India's largest garment exporter with 105,000 employees, Ahuja is a modest man with much to be immodest about. He tells Rahul Jacob that the government needs a free trade agreement with Europe fast to ensure a level-playing field with Bangladesh and Vietnam.
Besides being a successful entrepreneur, he is the world's second youngest writer of books on ethical hacking.
Saradha scam accused Matang Sinh, who was recently arrested by the CBI, too will continue to enjoy Z-plus security.
The Tata group's tryst with mobile services, with either CDMA or GSM technology, did not really fly, forcing it to close operations and write off losses. Now the group is back in the big game, this time straddling the telecom equipment, network and technology space in India as well as the global market. To this end, it is leveraging the opportunities that flow from 5G technology through open radio access network, or O-RAN. Recently, the Tata Sons' subsidiary Panatone Finvest acquired 43.3 per cent in Bengaluru-based telecom equipment manufacturer Tejas Network for Rs 1,850 crore and announced it would buy another 26 per cent of the voting capital through an open offer.
'I would recommend two parts to fiscal support. One, support the lower end of the society by direct intervention through ways such as direct benefit cash transfer. Second, give fiscal support to the stressed sectors in line with the Rs 3-lakh crore (Rs 3 trillion) emergency credit line guarantee norms'
Most public sector banks, flush with deposits now, offer 3-4% interest on savings deposits, while a few private sector banks go up to 6%.
Analysts attribute this outperformance to the government's proactive economic reform measures
The opposition does not have any issue left so it is raking up Rafale deal issue, Rajnath Singh said.
Leader of Opposition Mallikarjun Kharge, speaking on the Motion of Thanks on the President's address, charged the government with not delivering on its various promises, including generating two crore jobs per year.
The WEF meeting is crucial because of its theme encompassing globalisation at the time of rising nationalism and trade war, and the fourth industrial revolution due to rapid strides being made in robotics and artificial intelligence.
At present, in Myanmar, GAIL and IndianOil have a minority stake in a gas pipeline which goes to China, through South East Asia Gas Pipeline Company.
A 15 per cent corporate tax rate for services companies in SEZs, setting up a fund for deep-tech startups and establishing clusters to demonstrate design-to-manufacturing capabilities of tech firms were some of the key demands made by the IT sector at the pre-Budget consultation on Monday. The participants shared their views and suggestions regarding Big Data, incentives for encouraging setting up of data centres, fiscal incentives for data localisation, incentives for pushing digital penetration in rural areas, and corporate guarantee to startups for competing with other nations.
'India has an advantage because we produce more cotton and we have more workforce.'
Recent easing of restrictions does not address the pain in the sector.
The airliners will be withdrawn from Air India, sent to France to fit airborne radars, then handed over to DRDO to be integrated with the complex software that will allow these aircraft to function as 'eye-in-the-sky' controllers of air force battles.
'Without reviving employment, consumer confidence will not go up.'
At the core of the issue is the national capital's unique status of a Union Territory that is administered by both the Centre and the government of the National Capital Territory of Delhi.
ONGC has suffered a loss of over Rs 30,000 crore due to alleged siphoning off of natural gas by Reliance Industries Ltd (RIL) from the PSU's well in Krishna-Godavari (KG) basin and appointment of an experts body on the issue "will not help", the state-run oil firm said.
T N Ninan lists a few David-Goliath encounters in the Indian markets, all of which make life interesting, though difficult if you are an investor looking for the next multi-bagger.
'Seen in the context of world turmoil in face of the pandemic and the Chinese 'miracle' of being the only country in the world to control it, this is not merely a 'Sputnik' moment, but a 'Sputnik Plus' moment,' argues Colonel Anil A Athale (retd).
RIL estimates output from KG-D6 could reach up to 60 mscmd in the next five years, when all satellite fields are brought into production.
IDS-2 and raids to uncover black money stash keep receipts flowing
The commission asks for notification to be deferred; RIL's KG-D6 pricing issue may return to Cabinet
Markets surged on hopes that the exit polls would show that the BJP winning majority in the general elections.
The secretary defence production wants to make India (currently the largest importer of weaponry) one of the world's top five defence manufacturers and a global leader in artificial intelligence and cyberspace.
'When you come through the hassles and struggles of business life, your mind is wired differently.' 'You are more connected to reality,' Akali Dal MP Naresh Gujral tells Rahul Jacob and Archis Mohan
The booming East China region as well as Shanghai metropolis has wooed top Indian firms like Infosys, Satyam, TCS, NIIT, State Bank of India and Reliance to set up software development centres or representative offices.
Business opportunity after phased diesel deregulation the main trigger.
President A P J Abdul Kalam will deliver the first Dhirubhai Ambani Memorial Lecture, instituted in the memory of the late chairman of Reliance Group of Industries, in Mumbai on July 6.
Alibaba's pervasive economic and social influence in China is seen as a threat to the authority of the Chinese Communist party, notes Shyam Saran.
