In what seemed a political understanding, Trinamool Congress chief and Railway Minister Mamata Banerjee stayed away from a cabinet committee meeting where the government finally cleared two disinvestment proposals she had been opposing.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Even as the September quarter performance was subdued, analysts expect the second half to be better on higher prices, output.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Domestic equity markets are likely to see volatility in a range-bound trade this week amid geopolitical worries and growing expectations of a sharp hike in interest rates, analysts said. Global trends, inflation data and the last batch of quarterly earnings will drive the markets this week, they said. Besides, the rupee movement, FII investment pattern and Brent crude trends would also be watched by investors.
If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing Nirav Modi to his right, says Tamal Bandyopadhyay.
The rally was mainly driven by financial, consumer durables, auto and oil and gas stocks.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
Soon after coming out of the ED office in Kolkata, Banerjee said the interrogation was an effort to prevent him from participating in the INDIA meet and a testimony to the vital role TMC is playing in forging the opposition unity.
Gautam Adani was the world's third and Asia's richest man a month back but a damning report by a US firm triggered a massive sell-off in shares of his apples-to-airport group, plunging his own wealth by $80 billion and the tycoon slipping to No.30 on the world billionaire index. Adani's sprawling conglomerate, which spans from sea ports to airports, edible oil and commodities, energy, cement and data centres, is under attack by US short-seller Hindenburg Research, which successfully deflated electric-vehicle maker Nikola Motors in 2020. Hindenburg, which held short positions in unidentified shares of Adani Group firms through its US-traded debt and offshore derivatives, on January 24 accused the conglomerate of "brazen stock manipulation and accounting fraud" and using a number of offshore shell companies to inflate stock prices.
When the world was upended by the Covid-19 pandemic, metals got its shine back. In the last two years, infrastructure spending by major economies spurred demand, energy transition and intermittent supply disruptions fuelled a scorching rally in metals after a downturn during the first Covid wave. Now, Russia's war on Ukraine is ensuring that elevated prices stay the course.
The market breadth in BSE remains healthy with 1,829 shares advancing and 721 shares declining
International oil prices retreated from an over seven-year high but was still above $100 a barrel and continue to pose threat to India's inflation rate and current account deficit. While there are no supply concerns as the oil route remained open, consumers will feel the pinch when PSU oil firms start passing on the increase in international rates through a revision in petrol and diesel prices, which have been on a pause for over three-and-a-half-months in view of elections in Uttar Pradesh and four other states. The government is "closely monitoring the situation" and will "take appropriate steps as and when required", a top official said. Brent crude oil surged past $105 per barrel on Thursday for the first time since August 2014, following Russia's invasion of Ukraine.
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Indian companies are keenly waiting for reforms on rules related to land acquisition, labour, coal and power sector, and foreign direct investment in insurance sector.
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India's hydroelectric power generation grew 17.5 per cent to 7.5 billion units in January this year from 6.4 billion units in the same month of 2012.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
According to the decision, such entities can now first operate through e-commerce and then open brick-and-mortar stores.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
India has a huge power demand and needs to replace polluting coal, as source on energy
Investor confidence has evaporated amid fears over the rising cost of funding India's gaping current account deficit, prompting New Delhi to delay plans to raise much-needed funds through partial privatisations, finance ministry sources said.
The miners were working on night shift when the mine caved in at around 5.30 am.
Putting money in key PSUs a better option
Move aimed at avoiding crowding of public issues during the Centre's mega disinvestments in coming months.
A day after the Union Cabinet paved the way for the government reducing its stakes in Oil and Natural Gas Corporation (ONGC), Coal India Ltd (CIL) and NHPC, the shares of these companies fell 3.4-5.2 per cent on bourses.
Pump manufacturing company Kirloskar Brothers Ltd and Coal India on Friday are jointly moving 18 high-powered pumps to the mine, officials said.
Billionaire Mukesh Ambani's Reliance Industries Ltd climbed two spots to No. 53 on Forbes' latest Global 2000 list of public companies worldwide. Forbes Global 2000 ranks the largest companies in the world using four metrics: sales, profits, assets and market value, Forbes said releasing the 2022 ranking of the world's top 2,000 companies. Reliance is the top-ranked Indian firm on the list, followed by State Bank of India at No. 105, HDFC Bank at No. 153 and ICICI Bank at No. 204.
The list mostly contains PSUs which were up for sale in the last fiscal.
Alstom Power India Ltd said it received a Rs 870-million contract by Renusagar power division of Hindalco Industries Ltd for the modernization of two of its 68 MW boilers.
Among the Sensex pack, Yes Bank, L&T, HDFC, RIL, HDFC Bank, PowerGrid and Coal India were the biggest losers -- falling up to 2.43 per cent.
Broader markets broke the winning streak and ended lower, underperforming the benchmark indices
Changing tracks helps. But, not taking the beaten path isn't always helpful. This is the story of two of India's biggest privatisations - Air India and Bharat Petroleum (BPCL). Nearly two decades after the last privatisation, a landmark divestment concluded this year when the loss-making national carrier Air India was sold to the Tatas.
Govt to play enabler not handler, India never had more decisive government: PM Modi Prime Minister Narendra Modi on Monday cited his dispensation's push for wide-ranging reforms, including the privatisation of Air India, to assert that the country never had a more "decisive government". Launching the Indian Space Association (ISpA), an industry body aspiring to be the voice of the country's space sector, Modi noted that fields like mining, coal, defence and space have been opened to private players, and said his government's clear policy about public sector enterprises is to open those to private industry where its presence is not required. While opening a host of sectors, the government has built a regulatory environment in which priority has been given to national interest as well as the interests of different stakeholders, he said.
Offloading shares in ONGC, CIL, NHPC may fetch govt more than the year's target.
"Independence means if government has done something wrong, you say it's wrong. But at the same time, you should have courage when the government is doing the right thing every day. You have to also say that," he Gautam Adani was quoted as saying by FT.
Hectic fundraising through IPOs will continue next week, with three firms -- One97 Communications, owner of Paytm; Sapphire Foods India, which operates KFC and Pizza Hut outlets; and Latent View Analytics -- are set to launch their initial share-sales to collectively mop up about Rs 21,000 crore. This comes after five companies successfully concluded their public offerings (IPOs) this week. Those five firms are - FSN E-Commerce Ventures, which runs online marketplace for beauty and wellness products Nykaa; Fino Payments Bank; Policybazaar parent entity PB Fintech; decorative aesthetics supplier SJS Enterprises; and microcrystalline cellulose maker Sigachi Industries.
Richest Indian Gautam Adani-led group's flagship firm on Wednesday filed an offer letter with stock exchanges for a proposed Rs 20,000 crore follow-on public offer (FPO). The FPO of Adani Enterprises Ltd (AEL) is planned to open on January 27 and close on January 31, according to the offer letter. Of the Rs 20,000 crore proceeds of the FPO, Rs 10,869 crore will be used for green hydrogen projects, work at the existing airports and construction of a greenfield expressway.
Other than ITC, other laggards include PowerGrid, Infosys, M&M, NTPC, SBI, HDFC, Kotak Bank, HDFC Bank, TCS, Hero MotoCorp, Coal India, ONGC, RIL, Asian Paint, IndusInd Bank, ICICI Bank, Maruti Suzuki, Bajaj Auto, Tata Motors, Bharti Airtel and Axis Bank.
ETFs function like a mutual fund scheme and have underlying assets of government-owned companies.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
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