It has been over two decades since the cabinet cleared the BharatNet project, earlier known as National Optical Fibre Network. However, progress of the programme has been slow. While the government had set the target of connecting 100,000 gram panchayats by 2013, it took another four years to achieve this target in December 2017. Progress under the current administration has improved, but the government has again missed its targets.
India's industrial production growth slowed down for a fourth straight month in December to 0.4 per cent mainly due to a poor performance by the manufacturing sector. The manufacturing sector, which constitutes 77.63 per cent of the Index of Industrial Production (IIP), contracted by 0.1 per cent in December, according to the data released by the National Statistical Office (NSO) on Friday. In December 2021, the mining output rose by 2.6 per cent, and power generation increased by 2.8 per cent.
With the growing talent pool, professionals must keep pushing their limits to stay relevant.
'These companies hired in high numbers last year and are balancing that out this year by recruiting fewer freshers.'
'It is a sign of a bigger problem which is coming in the next six months.'
The new interest rates will be effective from August 19 and will be applicable to both resident and non-resident customers.
The repo rate, at which the central bank lends short-term money to other banks, will continue to stay at 6 per cent.
In a massive fillip to the recently-formed Boxing Federation of India, the Sports Ministry has granted recognition to the body which was voted to office last month.
RIL was among the top gainers in the Sensex pack, jumping over 3 per cent to hit its record closing high. Tech Mahindra, HCL Tech, Bharti Airtel, Infosys, HUL and ITC were also among the prominent gainers.
Eight months after barring the country's largest private sector lender HDFC Bank from selling new credit cards, the Reserve Bank of India (RBI) has lifted the ban, banking sources said on Tuesday. However, the ban on launching new technology initiatives remains, the sources said. In December last year, the RBI had come out with an unprecedented
Reliance Industries rose by 1.16 per cent while ITC and ICICI Bank zoomed up to 2 per cent, lifting the indices to all time high levels.
Virat Kohli appears able to produce miracles with his bat and the India captain masterminded yet another successful chase in Sunday's run-feast against England to enhance his reputation as the second innings king of one-day cricket.
'This win is going to take a while to sink in'
M&M was the top loser in the Sensex pack, shedding over 2 per cent, followed by Dr Reddy's Bharti Airtel, Tech Mahindra, HUL, ICICI Bank and Infosys. NSE Nifty dropped 64.80 points to 14,341.35.
Software major Tata Consultancy Services on Wednesday reported a 14.8 per cent rise in net income to Rs 11,392 crore for the fourth quarter of last fiscal against Rs 9,959 crore in the year-ago period. The country's largest technology services company by market value said its revenue rose 16.9 per cent to Rs 59,162 crore during the reporting season from Rs 50,591 crore a year ago.
HCL Tech was the top loser in the Sensex pack, skidding over 4 per cent, followed by Tech Mahindra Dr Reddy's, Wipro, TCS, Titan and Infosys. NSE Nifty plunged 167.80 points to 17,110.15.
The NSE International Exchange (NSE IFSC) on Monday said trading in select US stocks will soon be facilitated through its platform. The Exchange will soon announce the operational details and will launch the product at the earliest possible time, NSE IFSC said in a statement. It further said depositories, banks and brokers have already started working with NSE IFSC to enable these investment products for Indian investors.
The NSE Nifty closed lower by 44.55 points, or 0.39 per cent, at 11,234.35. Intra-day, it shuttled between 11,332.05 and 11,210.90.
There are multiple near-term worries for the stock of India's largest listed consumer company, Hindustan Unilever (HUL). While inflationary pressures will weigh on its profitability, demand pressures - especially in the rural market - are expected to hit the firm's revenues. This is why brokerages have cut the earnings estimates for financial year 2022-23 (FY23) by 7-10 per cent.
HDFC Bank is on a global search to find a successor to the founding-chief executive Aditya Puri, as he would turn 70 next year.
Kotak Bank was top loser among Sensex stocks, dropping by 3.28 per cent. HDFC Bank declined by 1.86 per cent, HDFC by 1.28 per cent and ICICI Bank by 0.99 per cent. SBI fell 0.5 per cent while Bajaj Finance by 0.72 per cent. Larsen & Toubro dropped 0.16 per cent.
A joint statement released on Thursday said both sides exchanged views in an 'open and constructive' manner to resolve the 'relevant issues' and that it was agreed to maintain 'security and stability' on the ground in the region.
Only standalone exclusive eye centres, ENT centres, dialysis centres, maternity homes and IVF centres are presently exempted, the order issued on Saturday said.
Sentiment took a hit after the country's trade deficit soared to a near five-year high of $18 billion in July.
'Never leave your crease with M S Dhoni behind the stumps!'
SBI was the top gainer in the Sensex pack, surging around 8 per cent. Tata Steel, Bajaj Finance, HDFC Bank, NTPC, Axis Bank and ICICI Bank also ended with firm gains. On the other hand, TCS, HUL, Bajaj Auto and Infosys were among the laggards.
Speaking at the forum, Suzuki Motor Corporation (SMC) representative director and president Toshihiro Suzuki said, "Suzuki's future mission is to achieve carbon neutrality with small cars. "We will continue active investment in India to realise Self-reliant India (Atma-nirbhar Bharat)." Under the MoU, the company's wholly-owned arm Suzuki Motor Gujarat Pvt Ltd (SMG) will invest Rs 7,300 crore for the construction of a plant for BEV batteries at a land neighboring to SMG's existing plant by 2026.
The country's largest private lender HDFC Bank's bad-loan write-offs doubled to Rs 3,100 crore in the April-June quarter (first quarter, or Q1) of 2021-22 (FY22), from the level of Rs 1,500 crore in the same quarter of 2020-21 (Q1FY21). It also offloaded its non-performing assets (NPAs) amounting to Rs 1,800 crore in Q1FY22 to maintain a robust asset quality profile. It had jettisoned NPAs worth Rs 1,000 crore in the last quarter. Lenders knock off stress assets from books after making full provisions. Their right to recover dues from delinquent borrowers remains intact after the write-downs.
With a 'tilak' on his forehead and a 'puja thali' in his hands, Shinzo Abe's picture attending the 'Ganga aarti' alongside Prime Minister Narendra Modi at the fabled Dashashwamedh Ghat in Varanasi in 2015 symbolised his 'India connect' and reflected the very special bond he shared with the country.
According to the home ministry's National Emergency Response Centre, 138 people have died in Maharashtra, 125 in Kerala, 116 in West Bengal, 52 in Gujarat and 34 in Assam due to the floods and rains.
ITC was the top gainer in the Sensex pack, rallying over 7 per cent, followed by Asian Paints, Hero MotoCorp, Maruti, Bajaj Auto, Sun Pharma, TCS and HCL Tech. On the other hand, IndusInd Bank, NTPC, Bajaj Finance, HDFC and L&T were among the laggards. NSE Nifty advanced 39.70 points, or 0.44 per cent, to 9,106.25.
M&M was the top laggard in the Sensex pack, cracking over 4 per cent, followed by Axis Bank, IndusInd Bank, Hero MotoCorp, Sun Pharma and ICICI Bank. On the other hand, Bharti Airtel, Asian Paints, Tata Steel, NTPC, HUL and Reliance ended with gains.
After sight-seeing the Taj Mahal in Agra and the Sabarmati Ashram in Ahmedabad, Canadian Prime Minister Justin Trudeau got down to work in Mumbai. He, along with his wife Sophie Gregoire Trudeau and three kids -- daughter Ella Grace and sons Hadrien and Xavier - arrived in the country's financial capital on Monday night. Here are snapshots from Day 3 of their visit.
At a closed-door meeting with global investors, the largest asset manager in the country boasted of its nearly Rs 37 trillion assets under management (AUM) - 16.6 times that managed by the second-largest insurer SBI Life. The numbers are as of March 31, 2021. The assets of LIC are 1.2 times the net assets of the entire Indian mutual fund industry, which had AUM of Rs 31.43 trillion as of March 31, 2021 (about Rs 37.3 trillion until November this year). The standalone assets that LIC manages are equal to 18.7 per cent of India's GDP and worth more than gross domestic product (GDP) of the UAE, Bangladesh, Malaysia, Singapore, Hong Kong, South Africa, New Zealand, and Pakistan.
The government has reached out to investors to apprise them about Life Insurance Corporation of India's (LIC's) growth and prospects as it prepares for the country's largest initial public offering (IPO). Preliminary presentations have been made to inform investors on how the organisation is being restructured ahead of the IPO, along with its financials, so that the IPO process can be hastened once its embedded value is derived. "A detailed presentation has been made to investors, giving them details on how LIC is positioned beyond what is known. "This includes how LIC is being restructured ahead of the IPO, and investors are keen to know that," said an official. In the Finance Bill, 2021, the government had proposed a slew of changes to the LIC Act, 1956.
The broader NSE Nifty ended the session at 10,714.30, up 125.20 points or 1.18 per cent, after shuttling between 10,723.05 and 10,612.35.
Captain Virat Kohli stayed in third to be the best-placed Indian batsman in the latest ICC ODI rankings issued in Dubai on Friday.
I&B ministry refuses to respond to striking FTII students, who insist that Gajendra Chauhan has to go.
BofA Securities has revised its year-end Nifty target from its earlier projection of 16,000 to 14,500 now - down over 6 per cent from the current levels. Fast tightening monetary conditions, slowing growth/fears of US recession and the likely Nifty EPS (earnings per share) cuts, BofA Securities said, are the key headwinds for the markets in the near-term. However, clarity on macro and monetary policy outlook in the US/India, it said, is the silver lining that could see markets bottom out by August/September 2022.
West Indies skipper Darren Sammy has said they drew a lot of inspiration from the recent performance of their Under-19 team that won the World Cup and their women team's show at the World T20 on Thursday afternoon.
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