The parliamentary affairs minister also said the productivity of Lok Sabha was around 82 per cent and that of Rajya Sabha around 48 per cent.
'Investors need to have a fairly diversified basket of funds within equities.' 'We want them to allocate to largecap funds, midcap funds and flexicap schemes.'
'The first duty of the government is to learn lessons from a bad experience and course correct. It's a pity that the government is making policy without looking at evidence and differentiating between immediate and urgent.'
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
'Dear PM, INC supports the salary cut for MPs. Please note that MPLAD is meant to execute developmental works in the constituency. Suspending it is a huge disservice to the constituents and will undermine the role and functions of MP,' Congress chief spokesperson Randeep Surjewala said on Twitter.
Next year Medica and Manipal will merge, making the amalgamated entity the largest corporate hospital chain in the country, overtaking Apollo Hospitals Enterprises.
The statutory status will provide a legal foundation to Aadhaar.
HDFC Bank on Monday reported a consolidated net profit of Rs 16,811 crore for the September quarter, its maiden quarterly earnings announcement after merging parent HDFC with itself. On a standalone basis, the largest private sector lender reported a net profit of Rs 15,976 crore. In the year-ago period, the net profit of the merged entity would have been Rs 11,162 crore on a consolidated level while the same on a standalone basis would have been Rs 10,606 crore.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries:
While most European countries are backing Lagarde, the developing countries are trying to build a consensus on nominating a person from the emerging nations as the next IMF chief.
Hindalco's first quarter (Q1FY23) results indicate healthy domestic volumes for aluminium and copper, and lower cost of production. Subsidiary Novelis saw weak volume trends but it managed to push operating profit margins on a better mix and pricing hikes. The weak global outlook on aluminium is a cause for ongoing concern.
According to DMK, the voters are already consolidated on ideological lines, hence the impact of anti-incumbency, whether against the BJP Centre or the DMK state may not be too much, notes N Sathiya Moorthy.
There's a hint of new competition riding into a sector that has attracted attention for being in a duopoly-like situation. Rapido, a commute app known for its budget-friendly bike-taxi services, on Tuesday announced its entry into the cab market, which is currently dominated by marquee brands Uber and Ola. Rapido's cab foray will be enabled by a software as a service (SaaS)-based platform.
There was the mistaken belief that there was no risk of a second wave anytime soon.
Aided by the $57.8-billion merger of HDFC Bank and HDFC, India Inc reported its highest ever mergers and acquisitions in calendar 2022 at $171 billion as against deals worth $145 billion announced last year. The acquisition by the Adani group across cement, media and ports dominated the headlines with the conglomerate making its foray into the cement sector by buying Swiss materials firm Holcim's stake in Ambuja Cements for $6.5 billion. The Adani family's additional $4-billion open offer for Ambuja did not get a response because shareholders preferred to stay invested with the new owner.
The first phase of this online platform will be in place by March 2010
Rediff.com's Syed Firdaus Ashraf traces the journey of PM-CARES from its founding to finally admitting it is not a government fund.
With this investment, Jio Platforms has raised Rs 115,693.95 crore from some of the leading global investment powerhouses at a time when the world is deeply impacted by the coronavirus pandemic.
Notwithstanding the windfall tax placing a cap on profits, oil and gas producers like Oil India (OIL) and Oil and Natural Gas Corporation (ONGC) have done well in the October-December quarter (third quarter, or Q3) of 2022-23 (FY23). ONGC faces the drag of poor results from its subsidiary Hindustan Petroleum Corporation, and in comparative terms, OIL is better off. Standalone net sales in Q3FY23 stood at Rs 5,900 crore - up 57 per cent year-on-year (YoY), up 2 per cent quarter-on-quarter (QoQ).
The central government is likely to further consolidate its fiscal deficit by 50 basis points (bps) to 5.9 per cent in FY24 from 6.4 per cent in FY23, according to a recent report released by Goldman Sachs on Tuesday. In the current fiscal year, there is going to be an upside of 0.5 per cent on the receipts side due to higher nominal GDP growth, and higher tax buoyancy because of the formalisation, the report said. The upside to expenditure is mainly going to come from incremental subsidies (0.8 per cent of GDP), in both food and fertilizer, it said. The upcoming pre-election Budget will carry forward the trend of the increased capital expenditure seen in recent years.
From the Sensex pack, Mahindra & Mahindra climbed 3.71 per cent after the company reported an 18 per cent jump in its consolidated profit for the March quarter and the highest-ever annual profit of Rs 10,282 crore in FY23. Titan, Tata Steel, HDFC, UltraTech Cement, State Bank of India, ITC, IndusInd Bank, NTPC, HDFC Bank and Bajaj Finserv were the other major gainers. HCL Technologies, Power Grid, Maruti, Wipro, Tata Consultancy Services, ICICI Bank, Infosys, Tech Mahindra and Hindustan Unilever were the laggards.
Ask your HR department for details about the fund, trustees and returns
Finance Minister P Chidambaram on Thursday indicated that the government would not issue oil bonds worth over Rs 10,000-12,000 crore (Rs 100 to 120 billion) to petroleum companies before November, as the move required Parliamentary approval.
'Investors should ideally consider equity allocations from a medium-to-long term perspective.'
If you have seen Zwigato, Param Kumar's story will sound familiar. Laid off from his job as a repairman at a Gurugram-based water purifier provider, he now delivers groceries and food for a mobile-based delivery app, in Delhi. Kumar, who started making deliveries last August, told Business Standard that he is working longer hours than his older salaried job as an RO repairman, and has no paid leaves or health insurance. Kumar is part of India's estimated 7.7 million-strong force of gig workers.
Ulhas Joshi, Head -- Sales, Rank MF, a mutual fund investment platform, answers your queries.
'But can it afford to present a scenario within the existing legal framework of fiscal consolidation?', asks A K Bhattacharya.
Consequent to the Supreme Court's verdict on HPCL, BPCL divestment the government is understood to have halted the sale of its residual equity in privatised companies like Videsh Sanchar Nigam, IBP and IPCL.
Divestment Minister Arun Shourie informed the Lok Sabha on Wednesday that during April 1991 and March 2003, Rs 29,487 crore (Rs 294.87 billion) have been realised as divestment proceeds.
Equity benchmark index Sensex buckled under selling pressure for the second straight session to close below the 65k mark on Friday, as investors offloaded IT, teck and metal stocks amid a bearish global trend. Besides, fresh foreign fund outflows also hit investor sentiments, traders said. In a volatile trade, the 30-share BSE Sensex declined 202.36 points or 0.31 per cent to settle at 64,948.66.
From the Sensex pack, NTPC, Bajaj Finance, IndusInd Bank, UltraTech Cement, Bajaj Finserv, State Bank of India, Tata Motors, ITC, Power Grid and Larsen & Toubro were the biggest gainers. IndusInd Bank climbed 2 per cent after the company on Tuesday reported a 30 per cent jump in consolidated net profit in April-June quarter at Rs 2,124.50 crore, helped by core income growth and lower bad loan provisions.
Swift gains on Dalal Street this year have also led to a sharp surge in shares of equity market intermediaries like depositories, exchanges, and registrar and transfer Agents (RTAs). The stock prices of BSE, CDSL, CAMS, and KFin Technologies are up 24-283 per cent so far in 2023 when compared to a 9 per cent rise in the benchmark Nifty index. With the market buoyancy expected to keep up the pace, analysts believe these stocks are a good long-term bet despite the sharp rally, which can trigger an intermittent correction.
The need for finding options for proper functioning of Parliament is of paramount importance as the frequency of the passage of Budgets and other economic Bills without discussion or debate has only increased in the last few years, notes A K Bhattacharya.
Under Sebi guidelines, AIFs can operate broadly in three categories.
The Centre needs to have dialogue with the Opposition instead of letting politics come in the way; it needs to stoop to conquer, says Aditi Phadnis.
The effect of the HDFC-HDFC?Bank merger will be for the bigger space of the Indian financial sector and not just limited to the banking sector. The large finance companies have practically no benefit of regulatory arbitrage. Earlier, such arbitrage between banks and NBFCs was normal. The logic of the merger is very clear - the cost of borrowing of banks is lower.
The Opposition intensified its noisy protests in Lok Sabha on Wednesday over Pegasus snooping, farm laws and other issues with some unruly members even hurling papers and torn placards in the House, but the government went ahead with its legislative agenda and three bills were passed amid the din.
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