The Adani group, buoyed by a sharp recovery in its share prices over the past year, is set to embark on a series of roadshows this week to raise up to $4 billion (approximately Rs 33,254 crore) through equity and refinancing of older debt, according to banking sources. The roadshows, scheduled to take place in major cities, will inform investors about the group's investment plans across renewable energy, petrochemicals, and infrastructure development.
Siemens delivered a strong margin performance and also reported high other income to beat consensus in the January-March quarter (Q2) of FY24 (the company's year-end is September 30). In addition, it has opted to demerge the energy vertical with a 1:1 award of shares in the newly demerged entity which will be listed by the end of this year (CY25).
Housing sales in seven major cities rose 5 per cent annually to about 1.2 lakh units during the April-June period, while demand fell 8 per cent from the preceding quarter on surge in prices, according to Anarock. Real estate consultant Anarock, which is one of the leading housing brokerage firm, on Thursday released the data of housing market for the current April-June quarter. In April-June 2024, housing sales across seven major cities are estimated at 120,340 units, up 5 per cent from 115,090 units in the year-ago period.
The growth of eight key infrastructure sectors slowed to a 15-month low of 3.6 per cent in January, on account of poor performance of sectors like refinery products, fertiliser, steel and electricity, according to the official data released on Thursday. The growth of eight core sectors -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- was 4.9 per cent in December. It was 9.7 per cent in January 2023.
Passenger vehicles wholesales in India rose 1.3 per cent year-on-year to 335,629 units in April, automobile industry body SIAM said on Tuesday. The passenger vehicle (PV) dispatches from companies to dealers stood at 331,278 units in April 2023.
In the case of double-income couples, not more than 40 per cent of the net income of one partner should be the EMI for the property.
The Karnataka government on Wednesday put the reservation bill for Kannadigas in private firms on hold amid fierce criticism from business leaders and tech tycoons.
Among the 30 Sensex companies, Hindustan Unilever, Nestle, Asian Paints, HCL Technologies, HDFC Bank, Kotak Mahindra Bank and ITC were the biggest gainers. Larsen & Toubro, Power Grid, NTPC and State Bank of India were among the laggards.
Genset manufacturer Cummins India has seen its share price rise by 45 per cent in the past three months. The management has reaffirmed that growth would be in double digits over the coming two fiscal years. Growth is expected to be driven by a pickup in domestic infrastructure spending.
These are the top buyers of the scrapped electoral bonds, the data for which was released by the Election Commission on Thursday.
Strangely, no consolidated figures on infrastructure investments made on ground are ever disseminated by any official arm of the Government of India.
Moody's Ratings on Tuesday said India's growing water shortage can disrupt farm and industry sectors and is detrimental to the credit health of the sovereign as rising food inflation and decline in income may spark social unrest. It said decreases in water supply can disrupt agricultural production and industrial operations, resulting in inflation in food prices and hence can be detrimental to credit health of sectors that heavily consume water, such as coal power generators and steel-makers.
'The expeditious enactment of labour codes and strategic measures to bridge the skills jobs gap are critical.'
Growth of eight key infrastructure sectors rose to 8 per cent in July 2023 compared to 4.8 per cent in the same month last year on expansion in production of coal, crude oil, and natural gas, according to the official data released on Thursday. Production of steel, cement and electricity also grew in July, the data showed.
Air India's passenger service system provider SITA faced a sophisticated cyberattack in February this year leading to leak of personal data of 4.5 million passengers -- which included passengers of the national carrier -- from across the world, an official statement said on Friday. Personal data -- including name, date of birth, contact information, passport information, ticket information and credit card data -- which was registered between August 11, 2011, and February 3, 2021, has been leaked of a certain number of Air India's passengers, the statement issued by the airline said. "While we and our data processor continue to take remedial actions...We would also encourage passengers to change passwords wherever applicable to ensure safety of their personal data," it said.
'It feels like Assam is good just as a tourist spot and not a place to earn and live.'
Elections are not won or lost by expounding on such macro-economic matters. For the aam admi, what matters in manifestos are promises that will improve their quality of life, notes Vinayak Chatterjee.
Stock markets will be largely driven by global trends and macroeconomic data announcements in a holiday-shortened week which may see volatility amid monthly derivatives expiry, say analysts. Equity markets will remain closed on Monday for Gurunanak Jayanti. Trading activity of foreign investors and the movement of the rupee against the dollar will also be tracked by investors.
'Mumbai main branch (SBI headquarter) has all the data ready-made. It doesn't take even an hour to out the data from the system.'
Tuesday's bridge collapse once again puts the spotlight on the city's urban infrastructure and a dire need for its development.
It also asked why the data shared pertained to a period from April 2019 even though the scheme for anonymous political funding was introduced in 2017.
'With new projects and recently awarded projects kicking in, capital expenditure should only increase going forward.'
Coal, natural gas, refinery products and cement grew by 16 per cent, 7 .4 per cent, 2.7 per cent, and 16 .6 per cent in April this year, respectively.
The Bharatiya Janata Party (BJP) on Sunday pledged to make 30 million 'Lakhpati Didis', up from the 10 million rural women who have already achieved the feat. Prime Minister Narendra Modi on Sunday released the BJP's manifesto for the upcoming Lok Sabha elections. The manifesto says the ruling party will continue the quarterly financial disbursements under the Pradhan Mantri Kisan Samman Nidhi (PM KISAN) yojana.
Besides low interest rates, a reduction in active Covid cases and strong high-frequency macro data have lifted the sentiment of both corporate India and the stock markets.
Info Edge (India), the country's leading consumer internet company known for its platforms in recruitment (naukri.com), real estate (99acres.com), matrimony (jeevansathi.com) and education (shiksha.com) space, delivered revenue growth in line with expectations in the April-June quarter (Q1) of FY25.
The swindled amount is nearly half of WazirX's total assets.
Messages sent through Internet-based messaging service providers such as Whatsapp, Signal, and Telegram, as well as those which are encrypted, are understood to be within the Act's ambit.
'Disengagement is merely the first step in a lengthy process of arriving at a new normal along the LAC in Eastern Ladakh and the entire land boundary.' 'The Indian government should insist on the restoration of the status quo ante in Eastern Ladakh.'
The growth in eight infrastructure industries slowed to 2.3 per cent in May mainly due to contraction in crude oil, natural gas, coal and fertilizer output.
'Investors should consider small and midcaps only if they can handle volatility and have a longer investment horizon.'
So far this year, around 839,545 electric vehicles have been sold, accounting for approximately 6.69% of the total 12,541,684 vehicles sold.
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In the fiscal year ended March, infrastructure output grew 3.2 per cent compared with 5 per cent in 2011/12.
Private equity (PE) investments in India have fallen to a 6-year low at $24.2 billion in the financial year ending March 2024. Investments via PE deals are down 47 per cent compared to FY23, when private equity deals worth $45.8 billion were signed. According to data sourced from Bloomberg, PE firms had signed record deals worth $80 billion in the financial year ending March 2022.
With an existing consumer base of 400 million across airports, electricity and gas distribution businesses, the Adani group is revving up its retail play. It is planning to use the 2.4 billion consumer interactions a year with group companies to push various products and services. The group has already launched the 'Adani One' super app that will eventually sell products across the spectrum, top executives said.
The recent blip in housing sales on a quarter-on-quarter (Q-o-Q) basis should not worry investors as the long-term prospects of real estate stocks remain on a strong foundation, according to analysts. In the first half of the calendar year 2024 (H1CY24), realty stocks surged up to 104 per cent. This sharp run should be used to book partial profit in related stocks, suggested Deepak Jasani, head of retail research at HDFC Securities.
The share of such voters has shrunk to 1.9 per cent of registered voters in 2024 from 2.7 per cent in 2014.
Adani group plans to invest about Rs 1.3 lakh crore across its portfolio companies this fiscal as it doubles down on its $100 billion investment guidance over the next 7-10 years to grow businesses, group CFO said on Tuesday. The investment across portfolio companies that range from ports to energy, airports, commodities, cement and media will be 70 per cent met through internal cash generation and the remaining through debt, Group CFO Jugeshinder 'Robbie' Singh told reporters in Ahmedabad.
'If you look at where inflation (headline and core) is today in India and where the rates are, there's clearly room to cut rates.'
Kerala has had 202 fatalities in 2024 so far. In July alone, there were 202,122 episodes of fever, 2,250 cases of dengue, 1,850 cases of mumps and several other illnesses. 10,000 cases of dengue have been reported from Karnataka. 1,000 swine flu cases have been documented in Rajasthan.
