Even as raw material prices start cooling off from their peaks, fast-moving consumer goods (FMCG) companies' margins are expected to remain under pressure at least in the next quarter. This is because commodity prices continue to remain high year-on-year (YoY). Consumer companies will also continue to increase rates as they have been taking price hikes in a staggered manner. They have not yet passed the entire price increase of raw materials to consumers.
ITC's first foreign venture in the hotel space - a premium and luxury mixed-use development - has been "adversely impacted" by Sri Lanka's economic crisis, the firm said. The $300-million project under WelcomHotels Lanka (Private) Limited (WLPL), a wholly-owned subsidiary of ITC, comprises a luxury hotel and a super-premium residential apartment complex on 5.86 acres of prime sea-facing land in Colombo. In its latest annual report for financial year 2021-22 (FY22), ITC mentioned that the project's construction was running on schedule till the third quarter (Q3) of FY19, but was adversely impacted due to disruptions in the aftermath of the terror incidents in 2019 and thereafter by recurrent waves of the Covid-19 pandemic.
The amount that the 41-year-old former spin-bowling all-rounder has decided to donate was not disclosed in the report.
International pop star Rihanna teenage climate activist Greta Thunberg and others extended their support to farmers protesting on the borders of India's capital against the three agriculture laws introduced by the Central government last year and asked why people were not talking about it.
Gold jewellery demand in India is likely to decline in the second and third quarters of this fiscal due to hike in import duty, high volatility in prices and inflationary pressure, according to a report. While demand is likely to contract by 8 per cent year-on-year in the second quarter of FY23, the decline is expected to be higher at 15 per cent in the third quarter due to the exceptionally high base in the same period of FY22, Icra said in a report. According to the report, the exceptional third quarter performance in FY22 was due to the post-Covid reopening of the economy and the substantially high demand in the wedding and festive seasons.
The Reserve Bank's rate-setting panel began its three-day deliberations on Monday to decide the next monetary policy amid expectations that the central bank will maintain status quo on the benchmark interest rate in the backdrop of global scare due to the new coronavirus variant Omicron. Reserve Bank Governor Shaktikanta Das headed six-member Monetary Policy Committee (MPC) is scheduled to announce the policy resolution on Wednesday. If the RBI maintains status quo in policy rates on Wednesday, it would be the ninth consecutive time since the rate remains unchanged.
A labourer was killed and three rescued after a part of an under-construction tunnel collapsed on the Jammu-Srinagar national highway in the union territory's Ramban district, officials said.
Ahead of the Winter Session in Parliament, leaders of 11 opposition parties met in the chamber of Leader of Opposition in Rajya Sabha Mallikarjun Kharge.
The Congress on Thursday secured a seat in the present Bengal assembly as its candidate Bayron Biswas won the Sagardighi bypoll, defeating the nearest rival of the Trinamool Congress by 22,980 votes.
Birla did not name Moitra and urged members not to cast aspersions on the chair as it amounted to disrespect of the House.
The cooking oil national industry body -- Solvent Extractors' Association (SEA) of India has suggested immediate initiation of government to government (G2G) dialogue with Indonesia on the proposed palm oil export ban from April 28 by them as it would have an adverse repercussions in India. Indonesia, which is the world's largest producer of palm oil and meets nearly 50 per cent of the total palm oil requirement in India annually, had announced to ban exports till further notice apparently to contain edible oil prices in their domestic market. "We have suggested our government initiate dialogue with Indonesian counterparts at the highest diplomatic level on the cooking oil export ban.
'What we have to think about is, how to improve the efficiency of public sector banks.' 'You have to make decision-making more prudent, and free from government intervention.'
The NCR and the MMR together account for 77 per cent of 10 big housing projects stuck because of developers' bankruptcy or litigation.
The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) was at 54.9 in February, up from 54.0 in January, signalling a stronger improvement in the sector's health. The February PMI data pointed to an improvement in overall operating conditions for the eighth straight month. In PMI parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
Congress leader Adhir Ranjan Chowdhury aid that India must tackle Chinese aggression using all necessary means.
Rajya Sabha is likely to adjourn sine die after taking up five bills on Wednesday, the sources said on Tuesday. The Lok Sabha, Speaker Om Birla said, will meet at 6 pm on Wednesday instead of the usual 3 pm.
In a new political alignment in poll-bound West Bengal, state Congress president Adhir Ranjan Chowdhury on Tuesday announced the inclusion of newly formed Indian Secular Front (ISF) of Furfura Sharif cleric Abbas Siddiqui in the Left Front-Congress alliance.
Prime Minister Narendra Modi on Wednesday took a dig at feisty Congress MP Renuka Chowdhury, saying her laughter reminded him of epic serial 'Ramayana'.
The Ministry of External Affairs (MEA) on March 17 had announced that State Bank of India (SBI) would extend a term loan of $1 billion to Sri Lanka, fully guaranteed by the Indian government, and this was part of India's financial aid to the troubled island nation. Ministry of External Affairs (MEA) spokesperson Arindam Bagchi was quoted saying by news agency PTI that the loan would be used for importing food, medicines, and other essential items. "India has always stood with the people of Sri Lanka and we will continue to extend all possible support at this juncture.
