'This incident offers ammunition to those inside the US government and elsewhere who question the wisdom of trusting India, so it will have a lasting consequence no matter how it is managed.'
The previous bout of Fed withdrawal fears had threatened to spark a crisis of confidence in India -- sending the rupee to a record low of 68.85 in late August and leading to steep falls in bonds and stocks.
Summary of sports events and persons who made news on Sunday
'The biggest risk to the Indian markets from a 12-18-month view is that the current government does not get re-elected, or loses in a way that is not represented at all in the next central government.'
The combined market-cap of all listed Adani group firms has plunged nearly Rs 7.11 trillion since January 24 when the Hindenburg report was made public.
'They can shift to dynamic asset allocation funds to automatically rebalance their equity exposure.'
The RBI expects change, presumably commencing in the next Budget, but must hold its current view until this actually happens.
Looking for Treasures From Mizoram to embrace through 2024 and beyond.
Smooth engine, plush interiors, great suspension that handle dodgy roads with ease, futuristic design elements that have little by way of competition in the market -- it's all there, says Pavan Lall.
Shinde, who was accompanied by civic chief Abhijit Bangar and district collector Ashok Shingare, said the patient deaths at the CSM Hospital, located in his political turf Thane, were painful and asked all parties to desist from indulging in politics on the issue.
Uber on Thursday said it is now showing trip destination to drivers before they decide to accept a ride to enable them to make informed choices as the ride-hailing app announced a host of new measures promising to improve platform experience for drivers as well as riders. Upfront destination feature is already live across 20 cities and will be expanded to all others, Uber said in a statement. The move assumes significance as the government recently warned cab aggregators, including Ola and Uber, of strict action unless they improve their systems and redress mounting consumer complaints.
In the face of tax blow, brokerages remain sanguine about the prospects of asset management companies (AMCs). A sharp correction in the shares of AMCs over the past three months factors in most of the negatives and turned valuations attractive, observe analysts. In its latest report, Kotak Institutional Equities (KIE) has upgraded HDFC AMC to 'add' (from 'reduce') and reprised 'add' and 'buy' ratings on the rest of the listed AMCs - Nippon, UTI, and Aditya Birla Sun Life.
India's decision to ban the export of non-basmati white rice has pushed up global prices, prompting multilateral lending agencies, such as the International Monetary Fund (IMF), to call for a reconsideration of the move. Though nothing has been spelled out yet officially, sources said, the government might consider requests for government-to-government sale of non-basmati white rice, especially to West African nations where India is a major supplier. Also, traders and exporters of specialty regional rice varieties like sona masuri or gobindo bhog feel that they have been short-changed.
On one hand, South Indian states have been complaining about denial of a proportionate portion of the sharable funds from the Centre, based on population. On the other hand, they stand to lose Lok Sabha and Rajya Sabha seats that again are based on population, points out N Sathiya Moorthy.
India's economy continues to be robust, but downside risks such as rising crude oil prices, adverse weather conditions, and the global banking crisis outweigh the upside potential in gross domestic product (GDP) growth in the current financial year (FY24), the finance ministry said on Tuesday in its Monthly Economic Review for March. "We reiterate that downside risks to our official forecast of 6.5 per cent for real GDP growth in FY24 dominate upside risks," the review said. "Opec's surprise production cut has seen oil prices rise in April, off their lows of low-seventies per barrel in March.
A summary of sports events and persons who made news on Tuesday
Modi is visiting the African country from August 22 to 24 at the invitation of South African President Cyril Ramaphosa. South Africa is hosting the first in-person summit of BRICS comprising Brazil, Russia, India, China, and South Africa, since 2019.
Inflation rate during August, the data for which is yet to be released, was likely to remain at about 7 per cent, said SBI Ecowrap.
The rupee depreciation will work in favour of students who are currently studying in the US and plan to secure a job that pays in dollars.
India's residential market is expected to sustain demand momentum despite rise in mortgage and property rates as sales this year across the top 7 cities are likely to breach pre-pandemic level of 2.62 lakh units, industry players said. After braving four back-to-back disruptions in form of demonetisation, RERA, GST and COVID-19 in the last 6 years, industry experts feel the housing market is going through a lot of structural changes and is now at the start of a long-term upcycle. Homebuyers body FPCE gives credit to the Real Estate Regulatory Authority (RERA) under the Real Estate (Regulation & Development) Act, 2016 for this improved buying sentiment.
'It is time to allow the rupee to move towards its true value, as it is hurting Indian exports, investment and SMEs associated with export sectors that create jobs,' argues Pravakar Sahoo.
Given the better growth in JLR sales and improving domestic sales, nearly 90 per cent of the analysts covering the stock have a 'Buy' rating.
EAM Jaishankar's mission is aimed at strengthening India's strategic autonomy in a complex international environment, observes Ambassador M K Bhadrakumar.
Although the report has factored in fall in oil prices, it has pointed out that there would be large amount of repatriation of short-term debt over the next few months, which would influence the dollar-rupee movement. The rupee is unlikely to buck the depreciation trend of other Asian currencies.
The filing of offer documents with the capital markets regulator - Securities and Exchange Board of India - has more than halved this financial year (2022-23, or FY23) as the outlook for new share sales has worsened, following correction in the secondary market. So far in FY23, 66 companies filed their draft red herring prospectus (DRHP), as opposed to 144 in the preceding financial year (2021-22, or FY22).
The Sena leader further said the RSS's agenda behind inviting Mukherjee as the chief guest to one of its event, held in Nagpur on June 7, would only be clear after the 2019 general elections.
It was a "bloody Monday" for Chinese stock markets as shares once again nosedived in the sharpest decline since 2007.
'Before going to battle, Captain Anuj Nayyar gave me the engagement ring and photograph of his fiance.' 'I told him, "Why don't you keep it? It will motivate you to fight'.' 'He said he did not want the photograph to fall in the dirty hands of the enemy.' 'I wondered why he was giving it to me. Did he feel he would not return?'
Coolie No 1 is a cheap comedy for silly people, asserts Syed Firdaus Ashraf.
Oil imports are a third of India's total import bill.
Ahead of the Union Budget for 2023-24, Budget makers have welcomed the global consensus view that India will remain one of the bright spots in calendar year 2023. But there is some alarm over the grim global situation and how that might impact the Centre's projections and assessments for next financial year. The big global headwinds include a deep and sustained recession in the West, including India's biggest trading partners in North America and Europe, continuing volatility in commodity markets, and renewed Covid-19 fears, as lifting of strict curbs by China could potentially lead to a massive spread again.
With no Jasprit Bumrah in the Indian line-up, the 'Men In Blue' are missing a trick. And despite Mohammed Shami's brilliance in the warm-up game against Australia on the other day in Brisbane, the bowling unit doesn't inspire much confidence.
Air Carnival can make quick progress by stepping into the space that SpiceJet has left empty.
Fitch Solutions on Thursday said the new climate targets announced at the COP26 summit by Prime minister Narendra Modi pose an upside risk to its outlook for renewable growth in the country. With the new targets, it expected to see attempts to alleviate the issues regarding supply chains, manufacturing and project development that have long plagued renewable proliferation.
'The Budget will have to be substantially re-cast as soon as a new government takes charge after the elections.' 'Both revenue and expenditure numbers will have to be trimmed -- and then may better reflect the deceleration of economic activity caused by slowing consumption trends,' points out T N Ninan.
'I've spent a fair bit of time here in Bangladesh and at this ground and it definitely helps to have a little bit of experience.'
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The partially convertible rupee closed at 63.37/38 per dollar compared with 62.83/84 on Monday. The unit dropped 0.85 per cent on the day, its biggest single-day fall in two weeks.
India's exports are expected to touch $360 billion in the current fiscal from $312.35 billion in 2013-14, Federation of Indian Export Organisations (FIEO) said.
The 30-share Sensex ended down 604 points at 28,845 and the 50-share Nifty ended down 181 points at 8,757. The Bank Nifty ended down 602 points at 19,146.
Caution ahead of key consumer inflation data in the day also weighed.
