Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 12 per cent rise in December quarter net profit on improving oil-to-chemical business, strong continued momentum in retail and steady telecom unit Jio.
This year, the combined net profit of 24 index companies, which have declared their June-20 numbers, has declined by 37 per cent year on year, while their revenues, including other income, is down by 21 per cent YoY so far.
Top losers in the Sensex pack include Bharti Airtel, Infosys, Asian Paints, RIL, Coal India, HDFC Bank, HDFC, TCS, ONGC and M&M, falling up to 3.09 per cent.
However, the growth during the next financial year would be higher at 8.1 per cent in case of a second wave of the coronavirus and bit slower at 7.9 per cent if the virus recedes and remains under control.
'The challenge in India will be reviving consumption/investment.' 'If the negative surprise in earnings is very sharp or lasts longer than March, it can trigger a sharp sell-off.'
A weaker rupee might stimulate Indian exports and nullify some of the effects of Chinese devaluation.
Just as very high oil prices looked an anomaly in a sluggish world, so now do record high equities.
Tata Steel was the top loser in the Sensex pack, sinking over 5 per cent, followed by SBI, IndusInd Bank, Bajaj Finance, HDFC Bank and NTPC. NSE Nifty tanked 371 points to 16,614.20.
Moody's has a 'Baa3' rating for India, with a positive outlook.
With India's imports exceeding exports, weak rupee does more harm than good. Analysts, however, say that rupee depriciation is positive for export-oriented sectors such as IT services, pharmaceuticals, textiles and automobiles
Trade sanctions on Russia by Europe and the US offer an opportunity for India, but the devaluation of the rouble may play spoilsport
The term of the members of the Planning Commission is co-terminus with the Prime Minister and they would be submitting their resignations once the new government is formed after the ongoing general elections next month.
In a pre-Budget meeting with Finance Minister Nirmala Sitharaman, the corporate leaders highlighted several issues, including certain income tax matters which were coming in the way of mergers and acquisitions or slowing them down and roles that need to be played by state businesses to prosper at the ground level.
India's GDP for the three-month period ended September 30 grew 7.4%.
Petrol prices on Thursday crossed Rs 73 a litre mark, the highest level since the BJP government came to power in 2014, while diesel touched a record high of Rs 64.11 a litre.
Plenty of other factors are likely to keep a lid on prices.
Sentiments took a hit after broader Asian markets weakened, following a renewed sell-off on Wall Street on Tuesday as energy shares dropped after crude oil prices plunged to a 13-month low amid weak earnings and US-China trade disputes, fuelling worries about economic growth
Good investors learn how to think beyond the obvious and to make deeper, less obvious judgments.
The price of petrol breached a three-year high on Monday at Rs 74.50 a litre, while the price of diesel was at its highest at Rs 65.75 a litre
Observing that the economic recovery was not yet fully entrenched, the RBI Governor said recovery is likely to be gradual.
Sensex under pressure as Yellen signals rate hike; banking stock slip.
The fuel reforms are a very important signal of the government's commitment to tough economic reforms.
'By 2020 around 34% of India's population will be in the 15-34 age group.' 'More than 70% of them live in rural areas.' 'Their energy and enthusiasm need to be tapped in order to meet their aspirations and transform agriculture and the rural economy,' says P K Joshi.
Experts said the rate hike would improve working capital position of the manufactures as it would correct the inverted duty structure but may lead to increase in price of the finished goods.
Soaring output has left the world awash with cheap crude as supply exceeds demand by 1 million to 2 million barrels per day
Present a positive image by exuding enthusiasm and energy for work, says Surya Mahadevan.
Money will flow to Europe, Japan - and the emerging markets, including India.
EY said out of the nearly Rs 21 lakh crore package, Rs 8.01 lakh crore is on account of liquidity enhancing measures taken by the RBI since February.
The implications aren't too significant, given the size of Ukraine and its role in the global economy.
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Mayank Ashar talks about India's business environment.
Finance ministry tells PM fiscal deficit target will be met, capex expenditure won't be cut and GDP growth will surpass 7.5%.
Markets finished lower for the sixth consecutive day as hopes of the Goods and Services tax (GST) bill being passed in the current session of the Parliament faded considerably.
The government must realise that it has very little time to recover itself, its reputation, its legacy - and India's fortunes,says Mihir S Sharma.
A good monsoon could rein in food inflation. Largely good corporate results mean better days are ahead. Nifty may reach record levels, points out Devangshu Datta.
The approval was announced by Environment Minister Greg Hunt, who said "after undertaking a thorough assessment and consideration under national environment law, I have approved the Carmichael Coal Mine and Rail Infrastructure project, subject to 36 strict conditions".
India's economy grew an historically modest 7 per cent last quarter but industrial output has generally been strong.
Earnings growth is unlikely to see much recovery and sales revenues are also likely to remain muted
'Event management can distract from, but not permanently mask, execution failures,' points out Rathin Roy, director, National Institute of Public Finance and Policy.
Park only savings that need not be touched for many years, says Devangshu Datta.
RBI must balance the need for improving domestic bank credit demand and respond to lower inflation.
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