Earlier in May, Ford India announced that it had dropped its plans to make electric vehicles (EVs) in India, which it intended to export, under the production-linked incentive scheme (PLI). Ford was among 20 companies that had signed a Champion OEM Incentive Scheme under the PLI project with the government in February this year. The decision comes as a blow for the 4,000-odd employees at Ford India's Maraimalai Nagar plant near Chennai and in Sanand, Gujarat. In September last year, the company had announced that it would exit the India market, which it had entered in 1995 through an on-again, off-again joint venture with Mahindra & Mahindra (they split in 1998, signed a JV in 2019 and split again in December 2020), retailing petrol and diesel brands such as the EcoSport, Figo, Aspire, and Endeavour.
Cars and two-wheelers attract 28% GST and a cess in the range of 3-22%, taking the effective tax rate to up to 50%.
In a growth market, these funds should not form more than 10-15% of your portfolio. Invest with a horizon of at least 5 years
Mutual funds, as experts and custodians of another set of retail investors' savings, play a speculative game they are neither supposed to nor equipped to do, cautions Debashis Basu.
With a string of deals with telecom service providers, DTH operators and Bollywood stars, Netflix goes all out to protect its turf in India and fend off competition, says Viveat Pinto.
Confirming the visit, Chinese foreign ministry spokesman Zhao Lijian told a media briefing on Monday that China supported scientists around the world to conduct a global study on the origins and transmission routes of the virus.
Dr Tedros said the team has concluded that leak from the Wuhan Institute of Virology as alleged by former US president Donald Trump is the "least likely hypothesis" but it requires further probe.
Among the key demands of agitating farmers has been a legal guarantee on minimum support price (MSP). The protest reached a crescendo when thousands of farmers from Punjab and elsewhere marched towards Delhi late last year and decided to block the main entry points once they were denied entry. The Centre, on its part, held 11 rounds of discussions with the protesters and even offered to amend some of the provisions without much success. With now one of their chief demands met, farmers have now moved on to force the government to concede on MSP.
The reopening of schools and colleges has sparked a crisis in the edtech sector with falling valuations, slowing funding rounds and faltering investor sentiment. In a totally altered, post-pandemic landscape where students are back at school and colleges, companies are scrambling to revert to bricks-and-mortar tuition centres and adopting a hybrid model of offline and online education. Demand for online tuition has fallen, affecting the revenue of edtech companies in recent months. After two years of booming revenues, some experts say the sector is looking at a possible meltdown.
Colgate-Palmolive India is placing greater emphasis on freshness, whitening, therapeutic, and family toothpastes, as rivals such as Dabur and Patanjali dominate the growing naturals segment of the market. Once under 5 per cent of the Rs 10,000-crore domestic toothpaste market, the naturals segment, which includes ayurvedic and herbal variants, is now 25-30 per cent of the market, industry executives said. Growth rates of the naturals segment are estimated to be in the region of 8-9 per cent in volume terms. In value terms, the growth rate for naturals is around 10-12 per cent, sector experts said.
'The deaths of the children in the Gambia would batter India's reputation as the developing world's pharmacy.'
Sony India and Zee Entertainment Enterprises (ZEEL) have agreed to sell three Hindi channels--Big Magic, Zee Action and Zee Classic--to address anti-competition concerns arising out of their proposed merger. The broadcasters submitted their proposal to the Competition Commission of India (CCI), which gave a conditional approval on October 4. On Wednesday, the CCI made public its detailed 58-page order, specifying the channels that would be dropped.
According to a report by ManpowerGroup India, Indian MBAs are more in demand than IT professionals.
What worked for the markets was favourable global investor sentiment and encouraging flows into the emerging markets following stimulus measures taken by central banks.
The RBI's rate-setting panel MPC on Monday began its three-day deliberation amid expectations of another round of hike in benchmark interest rates to contain inflation that continues to remain above the central bank's upper tolerance level. RBI Governor Shaktikanta Das will announce the decision of the Monetary Policy Committee after deliberations on Wednesday. Das has already indicated that there may another hike in the repo rate, though he refrained from quantifying it.
Organised players have been the biggest beneficiaries after the lockdowns were lifted. Given real estate is not as expensive now, players want to take advantage of the trend.
market rally, especially in mid-caps, has also been driven by a pick-up in the monsoon and the government's resolve to get the goods and services tax (GST) Bill cleared in the recent session of Parliament.
Faced with one setback after another in expanding the scope of mining in the country, almost all the major miners of the world have wound down their operations in India.
TCS was the top gainer in the Sensex pack, rising around 2 per cent, followed by ONGC, SBI, L&T, Infosys, HCL Tech, ICICI Bank and Axis Bank. The broader NSE Nifty surged hit a record high of 14,109.40.
Other gainers included SBI, Kotak Bank, Sun Pharma, Tata Motors, M&M and Tata Steel, rising up to 5.19 per cent.
Pfizer can show the FDA approval to the Indian regulator and present a case that based on whatever data submitted, the US regulator has granted a full marketing nod, says Sohini Das.
... As the world swings from 'financialisation' to 'artificial intelligence', asks Ajit Balakrishnan.
'We expect to get the approval in the next few weeks,' says Deepak Sapra, CEO, API and pharmaceutical services, Dr Reddy's Laboratories (DRL).
US media reports that Meta Platforms, the parent company of Facebook, Instagram, and WhatsApp, could be the latest technology giant to downsize its workforce have triggered trepidation among its 300-400 employees in India, according to people familiar with the matter. "We have not heard much about the impact (of downsizing) on India. "It's a wait-and-watch situation. Certainly, there is uncertainty," said a source.
In the Sensex pack, HDFC, ONGC, Bharti Airtel, Titan, Asian Paints, Mahindra and Mahindra and TCS were the prominent gainers. On the other hand, ICICI Bank, IndusInd Bank, NTPC, UltraTech Cement, Tech Mahindra and SBI were among the major laggards. On the other hand, HCL Tech, Tech Mahindra, HUL, Bharti Airtel and ICICI Bank were trading in the red.
The intention of the government is to cap prices of drugs that are essential and which the public widely uses.
The deluge of offerings in the primary market, a muted results season and increasing talks of a Fed taper may quicken the pace of overseas investors selling Indian equities in the near term. The next few weeks may see a dozen companies tap the market for initial public offerings and raise about Rs 30,000 crore. These include the likes of Zomato, Glenmark Life Sciences, Utkarsh Small Finance Bank and Seven Islands Shipping.
Make sure buying a house won't lead to compromises on other crucial financial goals.
Novices should enter markets via SIPs of equity mutual funds.
Leasing of office spaces witnessed a sharp uptick in the July-September period at 12.5 million square feet across top eight cities on better demand, especially from the IT sector, with economy coming back to normalcy and corporate workforces slowly returning to work from office, according to Knight Frank India. The gross absorption of office space stood at 4.7 million square feet in the corresponding period of the previous year and 3.6 million square feet in the previous quarter, according to Knight Frank's India Real Estate Update - Q3 2021 that was released on Monday through a video conference. The consultant noted that the total office transactions of the eight India markets in Q3 2021 have improved and reached 83 per cent of the 2019 quarterly average level.
Although the markets could see a knee-jerk reaction, they rule out a sharp fall.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Stocks offering attractive dividends contain downside better when the markets correct, advises Sarbajeet K Sen.
Bajaj Finance was the top laggard in the Sensex pack, dropping over 9 per cent, followed by Axis Bank, IndusInd Bank, HDFC, ICICI Bank and M&M. Reliance Industries, however, capped the losses by rallying over 3 per cent. Sun Pharma, Hero MotoCorp, L&T, PowerGrid and Bajaj Auto were also among the gainers.
'Just put a patch on your arm and the vaccine can be absorbed by the body.'
Market experts say that FIIs have been caught off-guard on their exposures to companies with high-leverage and those facing cyclical headwinds.
'Who you know today will determine who you know tomorrow.' 'Becoming an expert in your domain will incentivise others to have you in their networks.' 'And the more diverse your network, the better it is.' An enlightening excerpt from Ambi Parmeswaran's All The World's A Stage: A Personal Branding Story.
Nikunj Saraf, Vice President Choice Wealth, answers your queries
Experts believe FPIs will keep a close watch on coronavirus pandemic, its spread and likely impact on the economy while making decisions about investment into India.
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.
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