The stocks of Mumbai-based real estate companies have been hitting lifetime highs on expectations that launches, steady demand, and price increases in the largest real estate market in the country would boost their financials. Macrotech Developers (Lodha) and Oberoi Realty hit their all-time highs last week, while Godrej Properties came close to its 52-week high last month before witnessing a sharp correction.
Before resigning as an auditor of an Adani Group firm, Deloitte had sought an independent external examination of allegations made by a US short-seller but the company said the allegations had no effect on financial statements and the reasons cited for quitting were not convincing to warrant such a move. In a 163-page filing with stock exchanges relating to Deloitte Haskins & Sells LLP's resignation, Adani Ports and Special Economic Zone (APSEZ) said that in meetings with its leadership, Deloitte indicated concern over a lack of a wider audit role as auditors of other listed Adani companies. However, the firm conveyed to the auditor that it was not within its remit to recommend such appointments as other entities are "completely independent".
India scripted history as the ambitious third Moon mission of the Indian Space Research Organisation (ISRO) touched down on the Moon's south pole, propelling the country to an exclusive club of four and making it the first nation to land on the uncharted surface.
Even as the scientists and staff at Mission Operations Complex broke into applause, the core team members thanked all those who had worked on the mission. Quietly and without jingoistic boasting of their stupendous achievement. And that is the most remarkable aspect of ISRO -- they let their work do the talking, notes Minnie Vaid, author of Those Magnificent Women And Their Flying Machines, ISRO's Mission to Mars.
The government has cancelled the FCRA registration of nearly 1,900 NGOs for violating various provisions of the law in the last five years. There were 22,762 FCRA-registered organisations till December-end 2021.
Modi will arrive in New York on June 20 and will lead the 9th International Yoga Day celebrations at the UN headquarters on June 21.
Targeted at one million schoolchildren and college students, besides working professionals and researchers, the three-month course will be available in online mode, free of cost, to people in India and abroad.
The Congress-led opposition stepped up its attack on Friday against the government over the Adani row and demanded that there should be a thorough investigation into what they alleged was a 'mega scam' as it involved public money.
As India's stock rises, the resolution of the border row may become even more difficult, warn Harsh V Pant and Kalpit Mankikar.
Logistics services provider Delhivery posted a mixed set of results during the March quarter of the previous financial year (Q4 of FY23). While its operating profit was marginally in the green, its net losses widened as compared to the year-ago quarter. Overall revenues, which were in line with estimates, fell 10 per cent year-on-year (YoY).
The country saw a massive year-on-year surge in the demand for electric vehicles, with retail sales of electric two-wheelers rising by 58 per cent, passenger vehicles by 130 per cent, three-wheelers by 82 per cent, and commercial vehicles by 171 per cent in March 2023, according to the data shared by the Federation of Automobile Dealers Associations (Fada). According to a report by JMK Research, the EV segment as a whole grew by 157 per cent during FY23, to 1,180,597 units, from 458,746 units a year ago. Overall, EV sales in March 2023 rose by 82 per cent from the March 2022 figure, the JMK report added.
'We are going to have hybrid cars, which, as far as I know, none of our competition is working on, and this includes ethanol.'
Undeterred by the stock market volatility, uncertainty due to the Ukraine-Russia war and high inflation, equity mutual funds continue to remain attractive choice for investors for the 15th straight month, registering a net inflow of Rs 18,529 crore in May on robust SIP numbers. This was higher than Rs 15,890 crore net inflow in April, data from the Association of Mutual Funds in India (AMFI) showed on Thursday. Equity schemes have been witnessing net inflow since March 2021, highlighting the positive sentiment among investors.
The Congress needs to reorganise itself at the grassroots, infuse younger blood, and have more boots on the ground. Just offering freebies is not the answer anymore. Leadership matters, asserts Ramesh Menon.
Benchmark indices started the trade on a weak note on Wednesday with the Sensex falling 564.77 points, following feeble global market trends and persistent foreign capital outflows. The 30-share BSE Sensex was trading 564.77 points lower at 52,612.68. The NSE Nifty dipped 162.4 points to 15,687.80. Among the Sensex pack, IndusInd Bank, Hindustan Unilever, Bajaj Finserv, Titan, Kotak Mahindra Bank and Bajaj Finance were the major laggards in early trade.
'Notwithstanding the seriousness of the allegations made, every accused had a right to a speedy trial and the court had to take into account long periods of incarceration without trial as an additional consideration for grant of bail.'
End users should take the plunge despite higher home loan rates as these tend to be cyclical.
Let intimacy have a role for the latter half of the night, but don't forget to include non-sexual activities that both of you enjoy, advises Dr Madhura Samudra, consultant psychiatrist and sex educator.
'With butterflies in our stomachs, but confident of our mission, we took off for Jaffna on the morning of 24 July 1987.' IAF Veteran Air Commodore Nitin Sathe recalls a conversation with Air Vice Marshal Harpal Singh Ahluwalia (retd), then a wing commander and mission leader for the clandestine operation.
The BSE Sensex maintained its winning run for the fourth session on the trot on Wednesday to reclaim the 60,000-level after a gap of over four months as investors remained upbeat amid softening crude oil prices and persistent foreign fund inflows. A strengthening rupee and positive Asian markets further bolstered sentiment, traders said. The 30-share BSE benchmark jumped 417.92 points or 0.70 per cent to settle at 60,260.13 -- closing above the psychologically key 60,000-mark for the first time since April 5 this year.
The country's largest listed footwear brand by market capitalisation, Metro Brands, posted better than expected December quarter results for the 2022-23 financial year (FY23), riding on store expansion and strong same store sales (SSS) growth. Profitability too remained robust, even as net profit growth was marginally lower. The company, which retails across the Metro, Mochi, Walkway, Crocs and Fitflop formats, posted a 24 per cent growth in revenues over Q3FY22.
Benchmark equity indices Sensex and Nifty rallied for a third day in a row on Wednesday on buying in Reliance Industries, Infosys, HDFC twins and ICICI Bank following gains in global equities amid hopes of a breakthrough in Russia-Ukraine peace talks. The 30-share BSE barometer index surged 740.34 points or 1.28 per cent to settle at 58,683.99. During the day, it jumped 784.13 points or 1.35 per cent to 58,727.78. Similarly, the broader NSE Nifty climbed 172.95 points or 1 per cent to settle at 17,498.25. Among the 30-share pack, Bajaj Finserv, Mahindra & Mahindra, Bajaj Finance, Power Grid, HDFC, ICICI Bank, Nestle, Maruti, Reliance Industries Limited were among the lead gainers. On the other hand, ITC, Tata Steel, Tech Mahindra, Bharti Airtel and Titan were among the laggards.
'If there is any reason to change my holding in Adani group stocks, the Hindenburg report on the group is not the one.'
Equity markets will look for directions from global trends, ongoing quarterly earnings and investment patterns of foreign institutional investors (FIIs) in a holiday-shortened week ahead and may encounter volatility amid the scheduled monthly derivatives expiry, according to analysts. Equity markets will remain closed on Wednesday on account of 'Republic Day'. "This week is a holiday-shortened one and it's going to be critical due to the list of events and data that are lined up.
The finance ministry on Thursday raised concerns over the possible impact of El Nio conditions on India this year, saying if recent forecasts came true, the country could see lower agricultural output and higher inflation. "Some meteorological agencies predict the return of El Nio conditions in India this year. "If these predictions are accurate, then monsoon rains could be deficient, leading to lower agricultural output and higher prices," the ministry said in its monthly economic review.
Taking part in a debate on the motion of confidence moved by the new 'mahagathbandhan' government, Yadav accused the BJP of having tried to 'break' Chief Minister Nitish Kumar's party in a bid to 'wipe out socialist ideology'.
Equity indices made an emphatic comeback on Friday after falling for seven straight sessions after the RBI hiked interest rates by 50 basis points on expected lines and projected inflation coming under control from January next year. A strong recovery in the rupee added to the momentum, traders said. Overcoming a wobbly start, the 30-share BSE Sensex soared 1,016.96 points or 1.80 per cent to settle at 57,426.92. During the day, it rallied 1,312.67 points or 2.32 per cent to 57,722.63.
ISRO officials said that the Rs 330 crore mission failed minutes after the rocket lifted off at 4.27 pm. Although they would go ahead with the same mission next year, it is still considered to be a setback since ISRO had planned on using the GSLV rocket for its second moon mission.
Despite the recent turmoil in the Indian markets after a scathing report on the Adani group from Hindenburg Research, American private equity major Blackstone is "bullish" on the India growth story and plans to invest more in the country's infrastructure and real estate projects. "We have a long-term view on India, as growth will be higher here. We have invested half of our Asia exposure in India. "Our extraordinary performance in India has made us bullish," said Jonathan Gray, president and chief operating officer of Blackstone.
Prime Minister Narendra Modi on Tuesday met prominent US personalities from different walks of life, including Tesla CEO Elon Musk who asserted that India has more promise than any other large country and that he is incredibly excited about its future.
While weather forecasters remain divided on how the monsoons will play out in India over the next few months, analysts believe the news at the current juncture - at best - can trigger a knee-jerk reaction in the markets. They believe it is too early to say whether the sub-par monsoon on account of El Nino can seriously dent the market sentiment in the short-to-medium term. "These are just initial forecasts and we will have another round / status update from the weather forecasters a month down the line.
The rupee depreciated 22 paise to a record low of 78.59 against the US dollar in opening trade on Tuesday as persistent foreign funds outflows weighed on investor sentiments. At the interbank foreign exchange, the rupee opened on a weak note at 78.53 against the American dollar, then lost ground to quote at 78.59 -- its all-time low level, registering a fall of 22 paise from the last close. On Monday, the rupee declined by 4 paise to close at its life-time low of 78.37 against the US dollar.
Prove your worth through effective storytelling. It matters how you communicate your achievements and articulate the potential to drive the business, suggests Sekhar Garisa, CEO, foundit, a job search app.
After the draft data protection bill, the government is now all set to bring another key legislation -- Digital India Bill -- that will be made available for public consultation by the month-end, Minister of State for IT Rajeev Chandrasekhar said on Thursday. The Digital India Bill, which will replace the 22-year old Information Technology (IT) Act, will be contemporary and a modern piece of legislation, the Minister promised. The proposed bill, alongside the Digital Personal Data Protection (DPDP) Bill whose draft was released recently, will contribute to the evolving framework which is light on regulation, safeguards consumer rights and catalyses innovation, the minister said while speaking at CII Global Economic Policy Summit 2022.
Retail inflation fell to a 15-month low of 5.66 per cent in March, mainly due to a decline in food prices, government data showed on Wednesday. The inflation figure in March is within the RBI's comfort zone as it is below 6 per cent. The retail inflation based on Consumer Price Index (CPI) was 6.44 per cent in February 2023 and 6.95 per cent in the year-ago period.
Starting your investment early with more risk appetite will give the investor a better chance of growing the money.
He also said that Chhatrapati Shivaji's life was all about revolting against the atrocities, and the fight for 'swaraj' (self-rule) started by him continues still today.
'If they are taking marquee locations and, say, are paying 50 per cent higher rent, those locations will see a spurt in rates as well.'
The recent currency volatility - rupee's depreciation against international currencies - may have given heartburns to automakers that rely on imports or pay royalty to parent companies abroad. But for Maruti Suzuki India, favourable movement of the yen - the currency that matters the most - against the Indian rupee, has given it reasons to cheer. The yen's sharp fall against the rupee and the rupee's depreciation against the US dollar, which in turn will bump up export realisations, are set to give a margin boost to the maker of Baleno and Brezza, said analysts. The softening of commodity prices and slew of new SUV launches in the coming months will also aid margins, they said.
Maruti Suzuki says it has sold at least one car in 418,000 villages.
