The S&P BSE Realty Index has emerged as one of the top-performing sectors, yielding a remarkable 45 per cent return over the past six months. The three leading players, listed by market capitalisation, have substantially enriched investor wealth by 43-70 per cent during this period. If the second quarter (Q2) of 2023-24 (FY24) updates from Macrotech Developers (Lodha) and Sobha, along with industry data for the quarter, serve as any indication, the trend of strong bookings for larger players is expected to continue.
Zudio was the standout performer as it tapped into the pentup demand in small-town India, at a pace never seen before, notes Indrajit Gupta, co-founder and director, Founding Fuel.
Lenders have postponed the second auction to sell bankrupt Reliance Capital's assets by a week to April 11, even as the Torrent group, the highest bidder in the first round, pursues litigation in the Supreme Court. Lenders are expecting the Hinduja group and Torrent to participate in the second auction and maximise the value of the assets. American financial services major, Oakteee may also join the race, said a source.
'I don't think we have ever seen such alignment of everything that we need in the banking sector.'
38 auditors resigned in 2022-23, compared with 46 the previous year.
While Narendra Modi spent fewer days abroad than his predecessor -- 275 days versus Dr Singh's 306 - he has travelled more widely than any other Indian PM.
The last year has seen public sector undertakings (PSUs) outperforming the Nifty50, albeit by a small degree. But PSU valuations are still, on average, less than half of private sector peers at price-to-equity or PE 8.7x for the Nifty PSU Index versus 20.9x for the Nifty50. There are several reasons for lower valuation.
The auction was held by Christie's on Monday evening and the highest price of 720,000 pounds went for Syed Haider Raza's La Terre (1985).
The World Cup trophy was not meant to be his, but India's 'Captain Fearless' Rohit Sharma gave everything on the field and so did Mohammed Shami, who set the record for most fifers in the tournament's history.
Officials from State-run refiners contend that savings from purchase of Russian oil are used to offset a part of the losses in revenues from selling transport fuels and LPG at State-set rates.
Reliance Industries (RIL) was the top-performing index stock on Friday (May 26) and closed the day with gains of 2.8 per cent, against a 1 per cent rise in the benchmark S&P BSE Sensex during the day. RIL's performance on the bourses on Friday was, however, an exception, and the stock has struggled to beat the broader market for nearly two years now. The company's share price is currently at the same level as in September 2021, while the benchmark index is up 6 per cent in the period.
Bolstered by an impressive performance in the global specialty business and outstanding results in the Indian market, Sun Pharmaceutical Industries, the largest pharmaceutical (pharma) company in the country, showcased a strong performance in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24).
'As long as economic growth remains steady, creating jobs and generating stable incomes, the rise in home loans should not create problems.' 'If the growth trajectory changes course over the medium term and interest rates rise along with inflation, the expanding trend in home loans may not sustain.'
In the quarter ending June 2022, the growth of Internet subscribers was less than one per cent of all of 2021.
India's largest listed pharmaceutical (pharma) company - Sun Pharmaceutical Industries (Sun Pharma) - is expected to maintain its outperformance vis--vis the sector's, as its multiple bets on specialty products, improving product mix, recent acquisitions, and branded business are finding favour with brokerages. While it has gained 7 per cent over the past year, the Nifty Pharma Index is down 13.6 per cent. Its outperformance over two years has been fairly evident, with the market leader gaining 66 per cent to Nifty Pharma's minus 1.4 per cent.
As many as 37 per cent of smartphones sold in India in 2022 cost Rs 15,000 or more.
Benchmark Sensex declined 224 points on Wednesday, snapping its four-session winning streak, mainly due to sell-off in IT and pharma counters amid rising concerns over possible aggressive interest rate hikes to tame high inflation. The 30-share index rebounded more than 1,200 points from the early lows before settling at 60,346.97 points, a total loss of 224.11 points or 0.37 per cent compared to Tuesday's closing level. The broader NSE Nifty closed lower 66.30 points or 0.37 per cent at 18,003.75 points.
Life Insurance Corporation (LIC) on Monday said it has an exposure of Rs 36,474.78 crore to Adani group's debt and equity, and the amount is less than one per cent of the national insurer's total investments.
Sun Pharmaceutical Industries (Sun Pharma) reported a turnaround in the January-March quarter of the 2022-23 financial year (Q4FY23), declaring a profit after tax (PAT) of Rs 1,984 crore versus a loss of Rs 2,277 crore in Q4FY22. However, that loss in FY22 was due to several exceptional one-time items -- with Rs 3,723.15 crore allocated to settlement of lawsuits in the US and other Exceptional Items adding up to Rs 3,935.75 crore. Adjusted for exceptional items, PAT in Q4FY22 amounts to Rs 2,155 crore, which is a year-on-year (YoY) growth of about 36 per cent.
Nationalist Congress Party (NCP) president Sharad Pawar on Tuesday said although his outfit does not agree with the demand of anti-Bharatiya Janata Party outfits for a joint parliamentary committee (JPC) probe into allegations against the Adani group, it will not go against their stand for the sake of Opposition unity.
The Hinduja group is learnt to have backtracked from making a minimum Rs 8,950-crore offer for Reliance Capital (RCap) - a deal that it had belatedly put forth in December, after Torrent Investments emerged as the highest bidder for the bankrupt firm in the challenge process. The Hindujas' latest move has put Indian lenders, with an exposure of Rs 24,000 crore, in a spot as it was the former's revised offer that led to a call for a second auction and litigation by Torrent, which had placed a bid of Rs 8,649 crore in the first auction. Torrent has moved the Supreme Court and plans to wait for the apex court verdict before participating in any fresh auction. A banking source said there was an informal meeting of a few lenders of Reliance Capital with the bidders - the Torrent group and the Hinduja group on Friday when the latter changed its stand. The meeting of RCap's committee of creditors (CoC) is scheduled for Monday.
Xiaomi will strengthen its product portfolio and launch 5G devices in the sub-Rs 15,000 segment as it looks to increase its market share in the segment. Xiaomi led the shipments in overall smartphone category in 2021 with a 24 per cent share, according to Counterpoint Research. However, in the 5G segment it is ranked fourth behind One Plus, Samsung, and Vivo, with a 13 per cent share.
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.
The Reserve Bank of India (RBI) will maintain the policy repo rate at 6.5 per cent during its upcoming June 8 announcement, considering the easing of retail inflation in April and the potential for further decline, indicating the effectiveness of previous policy rate actions, anticipate experts. Headed by Reserve Bank Governor Shaktikanta Das, a meeting of the six-member Monetary Policy Committee (MPC) is scheduled for June 6-8. The decision of the 43rd meeting of the MPC would be announced on Thursday, June 8.
The Reserve Bank of India's rate-setting panel on Wednesday began its three-day deliberations on the next bi-monthly monetary policy amid expectations of at least a 35-basis-point hike in the interest rate to check high inflation. If raised, it will be the third consecutive hike in the repo rate -- the short-term rate at which the RBI lends money to banks. The central bank has already announced to gradually withdraw its accommodative monetary policy stance.
The RBI's surprise rate hike may have been prompted by its inability to convince the government to cut excise duty on petrol and diesel and take other supply-side measures to tame runaway inflation, sources aware of the central bank's thinking said on Thursday. There has been a record Rs 10 a litre increase in petrol and diesel prices in a matter of 16 days beginning March 22, which has further fuelled the already high commodity prices. The RBI, which is mandated to ensure inflation is under 6 per cent, acted with a 0.40 per cent increase in repo rate to check prices before they went completely out of hand.
'Policy-sensitive sectors will wait and watch, but policy-agnostic areas will continue based on normal consumption demand.'
From a surge in airfares to rattled aircraft lessors to thousands of employees staring at uncertainty, it has been a month of continued turbulence since cash-strapped Go First suspended flights from May 3. As the government and other stakeholders hope that Go First restarts operations at the earliest, plans are being worked out for the budget airline's revival. A section of Go First staff are optimistic about restarting of operations, another section are pessimistic about the airline's future course considering what had happened to erstwhile Kingfisher Airlines and Jet Airways, according to employees who spoke to PTI.
Reserve Bank Governor Shaktikanta Das will hold a meeting with CEOs of public sector banks on Wednesday to discuss issues concerning slow deposit growth and sustainability of high credit demand. As per the Reserve Bank of India (RBI) data, deposits rose by 9.6 per cent as compared to 10.2 per cent on a year-on-year basis, while credit offtake witnessed a jump of 17.9 per cent as against 6.5 per cent a year ago. According to an agenda circulated for the meeting, sources said, sustainability, including pricing and slow growth of deposits, would be discussed.
The vaccination drive was only one important part of India's globally recognised pandemic management and response strategy, observes Dr Vinod K Paul.
India is sceptical that Tesla might import into the country cars made in China. Tesla executives were in India last month and appear to have proposed a factory in the country. But do not be surprised if that does not happen in a hurry.
Paytm founder and chief executive officer (CEO) Vijay Shekhar Sharma will receive his stock grants only after the company's market capitalisation (m-cap) stabilises at its initial public offering (IPO) level, the financial technology (fintech) major said on Wednesday. Paytm's stock price has been in free fall since its IPO at Rs 2,150 apiece, with m-cap at around Rs 1.4 trillion - plunging 76 per cent to a lifetime low of Rs 520 on March 23, when m-cap dropped below Rs 34,000 crore. Since then, the company's share price on the BSE has recovered some value and closed at Rs 637 on Wednesday.
Shiv Sena member of Parliament Sanjay Raut on Tuesday said the Bharatiya Janata Party was using central agencies to topple the Maharashtra government by targeting the ruling Maha Vikas Aghadi leaders and their family members.
Exactly a fortnight ahead of the Reserve Bank of India's (RBI's) next monetary policy review, a key market indicator of interest rates - the overnight indexed swap (OIS) - suggests that the central bank may tighten policy by 35 basis points and then refrain from further rate hikes. RBI Deputy Governor Michael Patra recently described the OIS as the primary instrument for hedging interest rate risk in India. The six-member Monetary Policy Committee (MPC) of the RBI will meet on December 5-7.
'I don't think there will be a direct reaction to the fuel price hike on air ticket prices.'
Gold as well as crude oil prices surged, with the latter even crossing the $103 per barrel mark. The domestic stock market opened deep in the negative territory, tumbling over 1,700 points and eroding investors' wealth by more than Rs 8 lakh crore in less than an hour of start of trade on Thursday.
As per ICC norm, the host nation is required to get tax exemption from the government for hosting tournaments organised by the global body. Since India's tax rules don't allow such exemptions, the BCCI has already lost close to Rs 193 crore as the government didn't exempt tax surcharge for hosting the 2016 ICC T20 World Cup. The ICC is expecting US$ 533.29 million (Rs 4400 crores approx) from the broadcasting revenue of the 2023 event in India.
Petrol doped with 20 per cent ethanol was rolled out on Monday at select petrol pumps in 11 states and union territories as part of a programme to increase use of biofuels to cut emissions as well as dependence on foreign exchange-draining imports. At present, 10 per cent ethanol is blended in petrol (10 per cent ethanol, 90 per cent petrol) and the government is looking to double this quantity by 2025. Prime Minister Narendra Modi launched the higher 20 per cent ethanol blended petrol two months ahead of the planned rollout in April, at the India Energy Week (IEW) 2023 in Bengaluru.
Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said there is a need for coordinated action between the centre and state governments to reduce taxes on petrol and diesel prices. "There is a need for coordinated action between the centre and states because there are inherent taxes levied by both," the Governor said adding that calibrated reduction of taxes was important. He was speaking at an event organised by Bombay Chamber of Commerce.
With economic activity still to reach pre-pandemic levels, the RBI may slow down the pace of rate hikes until next year to quell soaring inflation while supporting growth, the Asian Development Bank (ADB) says in its latest report. The Manila-based multilateral funding agency has raised the inflation forecast for the current fiscal year ending in March 2023 to 6.7 per cent from its earlier projection of 5.8 per cent. For the next fiscal year too, the forecast has been revised upwards to 5.8 per cent from 5 per cent earlier.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances