In the past one week alone, Rajasthan, Madhya Pradesh, Chhattisgarh, and Andhra Pradesh have issued orders to take over private hospitals in some districts. Sohini Das, Vinay Umarji and Gireesh Babu report.
'The current economic contraction is certainly due to the lockdowns as a response to the pandemic, which is an act of God.' 'Nobody has seen such a thing in the last 100 years.' 'Saying that this was an act of mismanagement is largely incorrect'
'You can put 25 per cent right now; put another 25 per cent when Nifty corrects another 500 points.' 'At 13,500 put another 25 per cent and at 13,000 one can get fully deployed.'
Despite a steady collection rate, the government faces a steep Budget target of Rs 6.1 trillion for CGST for 2019-20.
Hopes of revival and earnings growth in 2020, surprise tax cuts, and robust foreign flows - thanks to easy global monetary policies - are a few reasons why the markets have managed to digest the low GDP footprint. Select bluechips such as Reliance Industries, Bajaj Finance, Asian Paints, and ICICI Bank have gained sharply this year. On the other hand, YES Bank, Zee Entertainment, and Indiabulls Housing have seen a sharp fall.
The 'mystery' of the education business sale by Cox & Kings is part of an Enforcement Directorate investigation, which is also examining the siphoning-off of funds to the tune of Rs 21,000 crore to dozens of so-called related-parties, highlighted by the forensic auditor.
Durable, automobile and real estate players have been lobbying hard for a tax cut, saying it will boost demand.
'The effect will be seen two-three quarters down the line.'
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' stock market queries. Ajit will offer his unbiased views on a weekly basis
Private hospitals, especially smaller standalone ones, are staring at a crisis that they were not prepared for. Analysts say larger corporate chains have to brace up for at least six months for business to return to normal.
While the COVID-19 pandemic has completely halted production and new orders, exporters say that payments have also been delayed for the shipments sent before the lockdown. Exporters say some customers are not taking delivery of the shipments because they have shut shop. Ready-made garment players had been hoping for a revival in demand in China but with the virus spreading to Europe, the US and other major markets, there are no orders coming from the major retailers.
Top gainers in the Sensex pack included Hero MotoCorp, Maruti, M&M, Bajaj Auto, HUL, HCL Tech, Bajaj Finance, ITC, HDFC and L&T, rising up to 7.51 per cent.
According to a survey by community platform LocalCircles, early-stage start-ups, funding dependent start-ups and many small businesses will soon be fighting for survival as the spurt in coronavirus cases hits them hard.
The first half of 2019-20 will be under pressure, since prices are expected to go up by Rs 7,000-8,000 at a time when sentiment is poor.
There will be pressure on the fiscal situation, especially at a time when the monsoon can also disappoint. More populist expenditure is on cards if the mandate is a hung Parliament or a coalition government.
Analysts attribute this fall to the recent moderation in energy (mainly crude oil) and commodity prices, lowering of input costs for companies in sectors such as FMCG, consumer durables, and automobiles, reports Krishna Kant.
The immediate revenue loss could worsen the Centre's fiscal deficit, from the budgeted 3.3 per cent of gross domestic product (GDP) to 3.7 per cent of GDP -- a massive 40-basis-point increase. It was stabilised at 3.4 per cent since 2016-17, report Abhishek Waghmare and Dilasha Seth.
Post office savings deposit, recurring deposit accounts and the senior citizen savings scheme account have shown the highest growth in the current financial year.
The list of companies skipping dividends in FY19 includes some of the country's largest firms and industry leaders such Tata Motors, Avenue Supermart, Future Retail and Vodafone Idea, among others.
India is currently under the 21-day lockdown since March 25, with only essential services exempted to contain the fast-spreading virus.
The 13 firms under consideration had nearly a million employees as of March 2018, including contractual and temporary workforce.
Xiaomi plans to bring global component suppliers to India and this could potentially bring investment of at least Rs 15000 crore
Company's revenue rises 3-fold to touch $206 million while total cost jumps over 6 times to $500 million
The demand has gradually shifted from 16-tonners to 25-tonners and is further shifting in favour of 31-t and 37-t trucks.
While asserting that the growth of coronavirus cases in the country has been more or less linear and not exponential, it also said testing has been ramped up consistently.
'... Whether an incumbent is voted back or a coalition forms a new government except for a temporary disruption for a few weeks.'
'The business of investing is essentially about competent doubt management: If the market knocks off 3,000 points, the doubt will be whether it will ever rebound (making it one man's doubt against another man's conviction),' says Mudar Pathreya.
'Young people are digital natives.' 'Hence, their ability to learn coding and to become a full stack engineer is far more.' 'The demand for such people is more as we feel that if we hire people from campuses, we can train them to become what we want.'
The increase in bookings has also meant a significant reduction in overall costs for the online travel agencies and a consequent narrowing of losses.
One reason is that airlines have ramped up capacity and expanded their presence in tier-II markets. The first of a three-part series analyses how the aviation industry is an outlier in the midst of an overall economic slowdown.
Investors turn their attention to export-driven sectors.
The economy could grow at 6-6.5 per cent this fiscal year (2019-20 or FY20), said Chief Economic Advisor Krishnamurthy Subramanian, revising his earlier estimate of 7 per cent in the Economic Survey. In an interaction with Arup Roychoudhury, he said supply-side measures, including corporation tax cuts, will boost consumption and demand, and non-tax revenue may make up for shortfall in tax revenues.
Despite Chief minister Devendra Fadnavis' ambitious plan, 40 per cent of the state is reeling from drought and its water tanker economy is booming. As of February 2019, the state government declared drought in 151 of the 358 talukas.
''Even without major reforms, with a business as usual scenario, and with current inflation trends, we should be clocking around 11 to 12 per cent nominal growth.' 'That is not happening and is a source of worry,' Rathin Roy tells Arup Roychoudhury.
Street may be ignoring TCS headwinds as the stock's peak valuation doesn't seem justified by BFSI weakness, likely higher US tax rates and stronger rupee, reports Ram Prasad Sahu.
Even as domestic passenger car sales declined 29.4 per cent between April and August this year, exports grew 6.5 per cent, partially cushioning the blow from slowing sales.
Long-term funding was a requirement for infrastructure projects, and asset-liability mismatch in the banking system, impacts the access to finance for infrastructure projects. One of the key challenges would, however, be to get private sector back into investing.
Analysts attribute this outperformance to the government's proactive economic reform measures
Till now, Jio was primarily targeting the prepaid customer base, with only a few post-paid plans. Now, it is targeting post-paid customers, who usually spend over five times their prepaid counterparts and are more company-loyal.
