Stating that India's consolidated deficit is the highest among the G20 nations, Gopinath added it is important for India to undertake reforms.
The electric scooter juggernaut which has been picking up momentum with heady growth month-on-month is now slowing down. The combined number of registrations in April of eight electric two wheeler companies has seen a dip of over 1 per cent to 43,061 vehicles, according to data from the Ministry of Road Transport & Highways' site VAHAN. The reasons are the continuing shortage of chips, especially after the Ukraine-Russia war, and the spate of fires which have led to scooters being recalled by manufacturers.
Investors should await consistent growth metrics before looking at an investment in the company.
Overall, Tata Steel becomes the seventh non-financial firm, including four oil PSUs to report quarterly revenues of Rs 50,000 crore.
The Centre and states are likely to budget for higher market borrowings to the tune of Rs 2.3 lakh crore next fiscal even though the Union budget may peg a lower-than-expected fiscal deficit for the Centre at 5.8 per cent of GDP, says a report. Icra Ratings anticipates higher redemptions will lead to gross market borrowings of the Centre to rise to Rs 14.8 lakh crore and of the states to jump by Rs 1.6 lakh crore to Rs 9.6 lakh crore, taking the combined borrowings (of the Centre and the states) to Rs 24.4 lakh crore in FY2024, up by 2.3 lakh crore from FY23 combined. In FY23, the Centre's gross borrowings are budgeted at Rs 14.1 lakh crore and of the states at Rs 8 lakh crore, or a combined borrowing of Rs 22.1 lakh crore, according to the agency.
Experts attribute this trend to a combination of end of capital expenditure cycle, increased automation, RIL's preference for time-bound labour contracts, and telecom and retail's outsourced human resource model.
With average capacity utilisation now touching 76 per cent, Indian companies are going back to the drawing board to add capacity but the plans to build new factories and plants are still some months away.
Despite taking a hit on profitability amid the pandemic, companies with strong balance sheets are gaining market share because of consolidation in their respective sectors.
Nokia, that has already begun manufacturing of 5G equipment at its Chennai plant, is also readying for exporting the products to several key markets like the US.
The group will be in a better position to now scale up most of its segments irrespective of government policy, but the bad news others add is its growing debt.
China's economy, which suffered 6.8 per cent slump in the first quarter due to the coronavirus pandemic -- the worst in 44 years -- bounced back posting 4.9 per cent growth between July and September buoyed by the government's sweeping efforts to stimulate demand and consumption.
Apple Inc is commencing assembly of its iPhone 12 model in the country, a move that is expected to help the US tech giant further consolidate its position in the burgeoning smartphone market in India. Apple has partnered with third-party manufacturers like Foxconn and Wistron to make some of its phones in India. These include iPhone SE, iPhone 10R and iPhone 11.
Such a disruption will take the clock back by many years - in terms of passengers handled - for these airports, thus raising questions among some of the airport operators over a delay in expansion plans.
'It won't help being complacent about the momentum and valuations of equities that currently exist.'
The week ended October 17 was remarkable as it saw a fall in the unemployment rate. We have not seen such a level in any monthly estimate of the employment rate since March 2020, Mahesh Vyas points out.
There are concerns in the industry around budget cuts by clients and layoffs, as enterprises grapple with reduced earnings amid lockdowns across various parts of the globe.
Edtech major Byju's has raised over Rs 363 crore (about USD 50 million) in funding from Maitri Edtech and IIFL's private equity fund, according to regulatory documents. Over the past few months, Byju's has raised funding from a slew of investors that has placed the edtech major among the most-valued start-ups in the country. Byju's is estimated to have raised about $2.3 billion in funding so far with valuation touching $6.5 billion.
India's real estate industry staged a rebound from 2020's downturn, with housing sales seen rising by over 50 per cent. The performance, though short of pre-COVID levels, has property developers hoping for stronger gains in the New Year and the beginning of a long upcycle. A strong foundation has been laid this year for revival in the Indian real estate sector, which is projected to reach $1 trillion mark by 2030 from $200 billion in the pre-pandemic year.
Rents have risen most in Delhi's Connaught Place and Gurgaon's Cyber City & M G Road. Because of slowdown, supply has been restricted but demand has risen.
The consolidated revenue increased 20 per cent to Rs 8,422 cr
The budget-making exercise offers golden opportunities despite challenges, observes Shankar Acharya, former chief economic adviser to the Government of India.
The expansion into smaller towns is coming at a time when the online retail space has not only seen consolidation but is actually looking to collaborate with physical stores. Abhineet Kumar reports.
During the quarter, revenue from cigarettes increased 10.17 per cent to Rs 4,639.17 crore.
'Education played the most significant role in entrenchment of Hindutva ideology in coastal Karnataka.' 'Teachers of most of the schools, junior colleges, degree colleges and universities are active agents of Hindutva propaganda.'
Tata Steel delivered one of its best financial performances ever in the third quarter of the current financial year, and surpassed its deleveraging target of $1 billion. In an interview, Koushik Chatterjee, executive director and chief financial officer, Tata Steel, tells Ishita Ayan Dutt that the company will continue to focus on deleveraging but profitable and value-added growth will be equally important.
Xi does not want to risk any political or economic crisis complicating his bid to remain in office, observes Ambassador Shyam Saran, the former foreign secretary.
Revenue of the Mumbai-based firm grew 11.4 per cent to Rs 38,172 crore in the June 2019 quarter, compared to Rs 34,261 crore in the same quarter of 2018-19.
IMF cut its 2016 global growth forecast for the fourth time in the past year to 3.2 per cent, citing China's slowdown.
Multiplex chains are rushing to smaller towns
The number of telecom subscribers in India will reach a staggering 250 million by end of 2007 as the competition in the segment intensifies with aggressive expansion plans of regional and global players, according to a report.
The economy hasn't gathered even half the traction that some of us assumed it would just a year back.
10 stocks which are most popular with brokerages right now and are expected to deliver maximum upside over the next 12 months.
Naresh Goyal, after being ousted with his wife from the board last week, and with his shareholding halved to 25 per cent, can still make a comeback by partnering a new investor and win back majority control.
Having established its presence in the country, luxury carmaker Lexus is now looking to chart its next phase of growth in India as it looks to consolidate sales network and drive in new models, including fully electric cars in the country, according to a top company official. The company, which is the luxury car arm of Japanese auto major Toyota, initiated operations in India in 2017 and currently sells seven models in the country, including the locally-produced ES 300h sedan. Known for its self charging hybrid cars, the company is now gearing up to drive in battery electric vehicles, besides ramping up its existing product portfolio in the market.
Revenue rises 20.7% to Rs 36,854 crore.
He reaffirmed India's resolve to fight terrorism in all its forms and manifestations and said peace and prosperity cannot coexist with terrorism, in remarks seen as directed at Pakistan.
India's second-largest telecom firm Bharti Airtel on Tuesday reported a net profit of Rs 1,134 crore for the September 2021 quarter, and said it is witnessing strong business momentum with growth in 4G customers and increase in mobile ARPU. This is against a loss (attributable to owners of the parent) of 763.2 crore during the year-ago quarter, the company said in a statement. Its consolidated revenues for the second quarter of FY21 stood at Rs 28,326.4 crore, up 18.8 per cent year-on-year (on a comparable basis) and 13 per cent y-o-y on a reported basis, it added.
'This year was a very difficult time for me, or for any finance minister.'
'Waiting for a market correction and optimising entry time in the markets will be akin to missing the woods for the trees.'
Premiumisation, improving demand aid realisation growth at most large firms
