The net leasing of Grade-A commercial office space in India will stagnate this financial year at 32-34 million square feet, with global uncertainties brewing caution among key tenant categories, according to the latest Crisil Ratings report. Major seven cities in India - Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai Metropolitan Region (MMR), National Capital Region (NCR) and Pune - had Grade-A office space with an operational stock of around 705 million square feet as of March 2023. India's commercial office space is dominated by technology companies, with information technology (IT) and IT-enabled services (ITeS) companies occupying 42-45 per cent of the operational stock.
India's manufacturing sector activities moderated in December but output remained in the growth territory, amid slower rise in sales and new orders, even as business sentiment was dampened by concerns surrounding supply-chain disruptions, COVID-19 and inflationary pressures, a monthly survey said on Monday. The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) eased to 55.5 in December, from November's ten-month high of 57.6. The December data pointed to a "substantial, albeit slower, rises in sales and output", the survey said, adding that the latest quarterly reading was at 56.3, its highest since the final quarter of fiscal year 2020/21.
Follow this 15 x 15 x 15 rule to become a crorepati without taking big risks. Ramalingam Kalirajan explains how
India's services sector activities improved further and expanded at strongest rate in over 11 years in May, supported by a substantial pick-up in new business growth, even as input cost inflation climbed to a record high, a monthly survey said on Friday. The seasonally adjusted S&P Global India Services PMI Business Activity Index jumped to 58.9 in May, up from 57.9 in April, amid better underlying demand and strong inflows of new work. For the tenth straight month, the services sector witnessed an expansion in output.
Foreign Portfolio Investors (FPIs) have pumped Rs 47,148 crore in the Indian equities in June, making it the highest inflow in 10 months, enthused by the country's steadily improving macroeconomic fundamentals. However, inflows in July may be subdued as FPIs might adopt cautious stance due to the recent comments from the US Federal Reserve, Mayank Mehraa, Smallcase manager and principal partner at financial consultancy Craving Alpha, said. Besides, VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said FPIs are likely to turn a bit cautious going forward as valuations in the country are rich from a short-term perspective.
The ED's counsel also contended that Kavitha was a co-conspirator and a beneficiary of the excise "scam" and the proceeds of crime were directly going to her.
India's manufacturing sector activities eased slightly in February but firms were upbeat as they responded to increased new work intakes by stepping up production and purchasing activities, a monthly survey said on Monday. The seasonally-adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) fell marginally to 57.5 in February from 57.7 in January, indicating that even though the pace of growth eased from January it remained sharp in the context of historical data. The headline figure for February remained above its long-run average of 53.6, the survey noted. In PMI parlance, a print above 50 means expansion while a score below 50 denotes contraction.
Services sector activities in India picked up marginally in February on the back of better demand conditions and the retreat of the coronavirus pandemic but the rate of expansion was the second-slowest since last July and subdued by historical standards, according to a monthly survey. Reflecting a moderate rate of expansion, the seasonally adjusted IHS Markit India Services Business Activity Index rose to 51.8 in February from 51.5 in January. "The upturn was attributed by panellists to greater bookings, better demand conditions and the retreat of the pandemic. "That said, the latest increase was subdued by historical standards, with some companies indicating that growth was dampened by competitive pressures, COVID-19 and higher prices," the survey released on Friday said.
Manufacturing activities in India remained robust and price pressures were contained in October as new orders and production rose at a slower but stronger pace, according to a monthly survey released on Tuesday. The seasonally-adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) was up from 55.1 in September to 55.3 in October. The October PMI data pointed to an improvement in overall operating conditions for the 16th straight month.
The Central Board of Indirect Taxes and Customs (CBIC) has stepped up its watch on the import of unbranded gold jewellery amid a spurt in seizures on international borders and from importers. During FY24, the CBIC and Directorate of Revenue Intelligence (DRI) jointly seized about 5 tonnes of gold, 30 per cent more than what they did in FY23. In FY23, 3.5 tonnes of gold was confiscated.
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 Enforcement Directorate, which has been investigating the Mahadev app-linked money laundering case for more than a year, alleged in the past that its probe has shown involvement of various high-ranking politicians and bureaucrats from Chhattisgarh, where the two main promoters of the app hail from.
rediffGURU Sushil Sukhwani offers expert advice about pursuing higher education abroad.
The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) fell from 58.9 in October to a three-month low of 56.3 in November, indicating that the manufacturing sector growth remained strong, despite losing traction.
'During the scorching summer months of election season, largescale outdoor gatherings create a prime opportunity for increased consumption in the packaged drinking water category.'
India's services sector lost momentum in July as demand was curtailed by competitive pressures, elevated inflation and unfavourable weather, a monthly survey said on Wednesday. The seasonally adjusted S&P Global India Services PMI Business Activity Index fell from 59.2 in June to 55.5 in July, pointing to the slowest rate of growth in four months. For the 12th straight month, the services sector witnessed an expansion in output. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction.
India's manufacturing sector activities improved in September as companies benefited from strengthening demand conditions amid the easing of COVID-19 restrictions, a monthly survey said on Friday. The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) improved from 52.3 in August to 53.7 in September, indicating a stronger expansion in overall business conditions across the sector. The September PMI data pointed to an improvement in overall operating conditions for the third straight month. In PMI parlance, a print above 50 means expansion while a score below 50 denotes contraction.
Why are financial-technology (fintech) players moving back to India, or doing the reverse-flipping?
A total of 161.30 acres of land, plant, machinery and building of the Kannad Sahakari Sakhar Karkhana Limited (Kannad SSK) located in Kannad village of Aurangabad district has been provisionally attached under the Prevention of Money Laundering Act (PMLA), the ED said in a statement.
India's services sector activity witnessed a sharp upturn in August on the back of stronger gains in new business, ongoing improvements in demand conditions and job creation, a monthly survey said on Monday. The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from July's four-month low of 55.5 to 57.2 in August, amid a quicker upturn in business activity and the sharpest rise in employment for over 14 years. For the thirteenth straight month, the services sector witnessed an expansion in output.
The auction of radio waves used for mobile services saw a muted opening on Tuesday, with five rounds attracting bids worth about Rs 11,000 crore from telecom companies. The government has put over 10,500 Mhz spectrum in eight frequency bands -- 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz and 26 GHz, valued at Rs 96,238 crore at base price, for auction.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
India's real estate market is poised for growth across categories - residential, commercial, and rental. Currently valued at Rs 24 trillion, or about $300 billion, it is projected to surge to $1.3 trillion by 2034, and then grow further to $5.17 trillion by 2047, indicates a report by the Confederation of Real Estate Developers Associations of India (Credai).
Domestic commercial vehicle sales volume is expected to grow 9-11 per cent in FY24 driven by medium and heavy commercial vehicles and an estimated economic growth of around 6 per cent, rating agency CRISIL said on Monday. Besides, an increased allocation to infrastructure spending in the Union Budget for next fiscal year will support demand, it said. This would be the third consecutive year of growth in the domestic CV industry, according to CRISIL.
The Indian services sector activity fell to a six-month low in September, as new business inflows rose at the slowest rates since March, amid inflationary pressures and competitive conditions, a monthly survey said. The seasonally adjusted S&P Global India Services PMI Business Activity Index fell to 54.3 in September, from 57.2 in August, highlighting the weakest rate of expansion since March. For the fourteenth straight month, the services sector witnessed an expansion in output. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
India's manufacturing sector growth steadied in May, with new orders and production increasing at similar rates to those registered in the previous month, while demand showed signs of resilience and improved further in spite of another uptick in selling prices, a monthly survey said on Wednesday. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) stood at 54.6 in May, little changed from 54.7 in April, pointing to a sustained recovery across the sector. The May PMI data pointed to an improvement in overall operating conditions for the eleventh straight month.
'She was the unanimous choice of the search-cum-selection committee.'
The airline industry is projected to register a net profit of $25.7 billion in 2024 as more normal growth is expected in both passenger and cargo segments, global grouping IATA said on Wednesday. For 2023, the net profit is estimated at $23.3 billion, significantly higher than the $9.8 billion projected by the International Air Transport Association (IATA) in June this year. IATA has more than 300 airlines as members.
Cheistha Kochhar, 33, was a Doctoral Candidate studying behavioural research since she moved to London from Gurugram, Haryana, last year.
Chandole was arrested by the ED on late Wednesday night under the Prevention of Money Laundering Act (PMLA) in a case against a security service provider company and others.
India's manufacturing sector activity was largely flat in April, as rates of growth for new orders and output eased to eight-month lows amid the intensification of the COVID-19 crisis, a monthly survey said on Monday. The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) was at 55.5 in April, little changed from March's reading of 55.4. In PMI parlance, a print above 50 means expansion while a score below 50 denotes contraction.
India's services sector activities eased in March as growth was hit by the detrimental impact of the coronavirus pandemic and input costs remained elevated, a monthly survey said on Wednesday. The seasonally-adjusted India Services Business Activity Index fell from 55.3 in February to 54.6 in March. Though the rates of expansion softened, it indicated growth for the sixth consecutive month. In PMI parlance, a print above 50 means expansion while a score below 50 denotes contraction.
Under the stewardship of the then TMC national general secretary Mukul Roy and North 24 Parganas TMC district president Jyotipriyo Mullick, he joined the party and quickly ascended in power, becoming a close associate of Mullick.
Services companies reported an increase in new work intakes, which they attributed to successful marketing efforts and strengthening demand.
India's services sector activity continued to expand in September, supported by favourable underlying demand amid the easing of COVID-19 restrictions, but lost some momentum from August's 18-month high level, a monthly survey said on Tuesday. The seasonally adjusted India Services Business Activity Index fell from 56.7 in August to 55.2 in September, but remained well above its long-run average. "Despite easing from August, the rate of expansion was marked and the second-fastest since February 2020," the survey said.
It will be in Modi's interest to reinvent his party, read the writing on the wall that voters wrote, and move ahead. He has little choice now. The country is watching, asserts Ramesh Menon.
India's manufacturing sector activities lost further growth momentum and fell to a seven-month low in March as demand was constrained by the escalation of the COVID-19 pandemic, a monthly survey said on Monday. The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) fell from 57.5 in February to a seven-month low of 55.4 in March. However, the latest reading was indicative of a substantial improvement in the health of the sector that outpaced the long-run series average, it said. In PMI parlance, a print above 50 means expansion while a score below 50 denotes contraction.
Geopolitical headwinds leading to lower demand from export markets, coupled with lower domestic buying, have dragged the auction average of Darjeeling tea to its lowest level since 2015. Data from Calcutta Tea Traders Association (CTTA) shows that the average price of Darjeeling tea at Kolkata auctions for January-December 2023 was Rs 319.74 per kg. The last time it dipped below this level was in 2015 at Rs 285.71 per kg.
India's services sector activity expanded at the strongest pace in ten-and-a-half years in October, driven by a substantial upturn in business activity amid favourable demand conditions, a monthly survey said on Wednesday. Companies indicated that a notable pick-up in new business led to the fastest expansion in output in over a decade and as a result more jobs were created, even though business confidence remained subdued due to growing inflationary concerns. The seasonally adjusted India Services Business Activity Index rose from 55.2 in September to 58.4 in October, signalling the strongest rate of growth in ten-and-a-half years.
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