There has been a stellar rise for the Indian markets this far in calendar year 2021 (CY21) with the S&P BSE Sensex surging over 19 per cent. The gain in mid-and small-cap indices on the BSE has been sharper with both these indexes surging around 38 per cent and 54 per cent, respectively during this period. Rampant spread of Covid pandemic's Delta variant and the ensuing lockdown and mobility curbs across India, rising prices key commodities, including crude oil and its impact on inflation, possibility of tightening of policy stance by major global central banks, especially the US Federal Reserve (US Fed) have been some of the key headwinds that the markets successfully negotiated during this period.
Among the lot, Rallis India, Escorts, Jubilant Life Sciences, and Crisil added half of the total gains made in the ace stock-picker's portfolio.
According to experts, work from home, volatility in stock markets worldwide, and redemption pressures compelled investors to defer new investment plans.
Foreign money has been pouring into India's fast-growing e-commerce sector, with investors ranging from Japan's Softbank Corp to Singapore's Temasek Holdings.
Around 75 per cent, or 372 stocks, that are part of the BSE500 are trading at least 10 per cent below their all-time high levels, despite the index hitting a record high 20,515 points on the BSE in intra-day trade on Wednesday, surpassing its previous high of 20,390 touched in March 12. The index, which accounts for 93 per cent of BSE listed companies' market capitalisation, has gained 8 per cent from its recent low of 18,983, touched on April 19. In comparison, the benchmark S&P BSE Sensex gained 6 per cent over the same period, but is still nearly 4.5 per cent away from its all-time high of 52,517 that it hit on February 16.
For the sake of transparency, and to reduce undesirable bond market volatility, clarity on these would be welcome, preferably before the budgets for the next fiscal year get finalised, says Neelkanth Mishra.
Coming Wednesday, Finance Minister (FM) Nirmala Sitharaman will present the 2023 Union Budget - the last full Budget ahead of the 2024 Lok Sabha elections. While India exited 2022 as a relatively bright spot in the global economy, the FM will endeavour to present a Budget that insulates India's economy against global headwinds and recession in advanced economies, while sticking to the path of fiscal consolidation. In this, she is being helped by her core team of trusted advisors.
'No one seems to have looked at the extent of money that is being borrowed by individuals, and the rising levels of household debt.' 'At their present rates of growth, personal loans in India could well become the largest category of bank credit in just two or three years,' cautions T N Ninan.
After Vodafone Idea, Tata Teleservices (Maharashtra) on Tuesday said it will opt for conversion of the interest amount on AGR dues into equity and post conversion, the government's holding in the company is expected to be around 9.5 per cent. The announcement of Tata Teleservices (Maharashtra) came within hours of Voda Idea also deciding to opt for converting the interest amount on AGR dues into government equity. In a filing to the BSE, Tata Teleservices (Maharashtra) said Net Present Value or NPV of interest is expected to be nearly Rs 850 crore as per the company's estimates, subject to confirmation by the Department of Telecom (DoT).
The sale proceeds will be fully utilised to repay debt at Bharti Telecom and will make the promoter holding firm a 'debt free company'.
This makes it the most valued fintech company in the country after Paytm and Walmart-owned PhonePe.
Getting Formula 1 back to the Buddh International Circuit (BIC) is not on the priority list for the debt-ridden Jaypee Group but at the same time, it has no plans to sell the USD 400 million facility that put India on the world motorsport map, said track chief Sameer Gaur. "Yes, we are not thinking of hosting any big race including F1 in the near future because of reasons well known but it doesn't mean we are open to selling the circuit. The thought has not even crossed our mind," Gaur, who is Jaypee Sports International MD and CEO, told PTI. The BIC has been away from the limelight ever since the race was dropped from the F1 calendar following three editions from 2011 to 2013. The maintenance cost of the circuit remains high and with no major international race being organised, a handful of domestic events besides vehicle testing days contribute to its running cost.
Analysts cautious on outlook, expect earnings to remain under pressure over medium term.
...followed by financial services, IT, and sales and marketing.
IIT Kharagpur officials said the salary package was among the 163 offers made by 27 visiting companies on Monday on the first day of campus placements.
The central bank has ordered lenders to clean up balance sheets by March 2017
Isha and Akash, 23, were appointed to the boards of Reliance Jio Infocomm Ltd and Reliance Retail Ventures Ltd, the company said.
SBI said it provided credit to Orbital ATK Inc as part of a syndicated deal with other banks.
2022 is shaping up as the year brimming with job opportunities for people who possess relevant skillsets. Therefore, it is crucial for fresh graduates and young professionals to enroll in relevant certification courses to add more feathers to their introductory portfolio
The failure of SVB was due to idiosyncratic reasons, but shows how higher rates can expose fault lines in unforeseen places, observes Neelkanth Mishra.
Though most analysts expect the global central banks to keep the liquidity tap open, valuations of Indian markets, they say, are beginning to look stretched. Against this backdrop, they remain cautious, with some even expecting a minor correction from here on.
13 eminent economists, including former RBI governor Raghuram Rajan and current International Monetary Fund Chief Economist Gita Gopinath, in a report have asked the political establishment not to resort to populist tricks.
The financial services sector, including NBFCs and housing finance companies (HFCs), have historically been the largest borrowers from MFs.
American Tower bulks up in India with $1.2 billion Viom stake buy
Rajan's appointment will be perceived as a positive development.
Worli and Mahalaxmi in Mumbai Metropolitan Region are placed at second and third positions with average housing prices of Rs 41,500 and Rs 40,000 per sq ft, respectively.
Bidding for the sixth round of spectrum auction for radiowaves worth Rs 3.92 lakh crore will start from March 1, according to a notice issued by the Department of Telecom on Wednesday. The long-awaited spectrum auction is being held after a gap of four years and over two years after the Telecom Regulatory Authority of India (Trai) calculated and recommended base price for the radiowaves. The DoT has fixed January 12 for the pre-bid conference and January 28 as the last date for seeking clarification to the notice.
Swiss banks seek fresh undertakings from Indians.
Though Google's investment is minuscule and will not move the needle, it will attract other investors to the company and be a morale booster. Pursuing Vodafone Idea would potentially pit Google against Facebook and an increasingly dominant Jio.
Reliance Jio submitted the highest pre-auction deposit.
The CAD has been narrowing since 2012 to an estimated 1.6% of GDP in 2014
Srichand and Gopichand Hinduja emerged as the 66th richest in the world, as part of an Oxfam study released at the WEF.
RIL's debt stood at Rs 3.06 trillion as of December 2019, against Rs 2.87 trillion in March 2019.
Budget 2015 has blessed the banking sector.
Many of India's sleepy state banks don't have the management capacity they need to tackle bad debts and deals at the same time, says Una Galani.
According to the RBI's Financial Stability Report, the industry's gross bad-loan is at a 14-year high. As RBI's March 2017 deadline for banks to clean up soured credit looms closer, Shailajanand Mishra takes stock of just how bad the situation is.
Eight investment banks including HSBC and India's ICICI Securities and SBI Capital have submitted bids to manage a 10-per cent stake divestment in state-owned Coal India.
While TCS will see demand in the US and Europe, its local business is likely to be hit on poor IT spending.
Experts believe the market will fall between 1 and 3%.
YES Bank, Bank of Baroda, SBI, IndusInd Bank, and RBL Bank are amongst the banks, Jefferies says, are most prune to "high risk" emanating from ADAG, Cox & Kings, CG Power, DHFL and Essar Shipping.
