What is more worrying, according to the report, is the fact that in over 20 per cent of the topic caseload districts where the second has ebbed, the third wave has set in firmly, which was only 5 per cent a month ago.
Reserve Bank of India Deputy Governor M Rajeshwar Rao on Wednesday said while the central bank will foster growth in the microfinance (MFI) sector, the lenders in the space should not throw caution to the wind to achieve higher asset growth and returns. MFIs should not try to mimic the strategies of mainstream finance, as those serving the microfinance borrowers have a greater need to balance the social objectives with their lending operations, he said.
We are entering 2022, facing another infectious variant, with much the same baseless confidence, notes Mihir S Sharma.
The auction was watched closely as it comes at a time when other major names like Christie's have pulled out of India.
This is first time in 25 years that a benchmark equity index in India is trading at a P/E multiple of 40x or higher.
'It is important for states to agree 10-15 per cent duty cut and take home the same amount of tax revenue as budgeted.'
If imputed inflation for April and May is used, then you have inflation of over 6 per cent for two consecutive quarters, which is a worrying signal for the RBI.
RBI targets to keep inflation at 4 per cent, (+/- 2 per cent), and its rise beyond this comfort zone will put pressure on the central bank to hike rates.
Sebi on Wednesday barred Kishore Biyani and certain other promoters of Future Retail Ltd from the securities market for one year for indulging in insider trading in the shares of the company. Apart from Kishore Biyani, who was the CMD and promoter of Future Retail Ltd (FRL), others facing ban are Future Corporate Resources Pvt Ltd, Anil Biyani and FCRL Employee Welfare Trust. In addition, the regulator has imposed a fine of Rs 1 crore each on Kishore Biyani, Anil Biyani and Future Corporate Resources. Besides, they have been asked to disgorge Rs 17.78 crore for the wrongful gains made by them.
In terms of traded volume, 19.47 lakh shares were traded on the BSE, while over 1 crore shares were traded on the NSE.
The Reserve Bank of India on Wednesday retained the economic growth projection for the current financial year at 10.5 per cent, while cautioning that the recent surge in COVID-19 infections has created uncertainty over the economic growth recovery. In its last policy review, the RBI had projected a GDP growth rate of 10.5 pc for FY'22. Taking various factors into consideration, it said, "the projection of real GDP growth for 2021-22 is retained at 10.5 per cent consisting of 26.2 per cent in Q1, 8.3 per cent in Q2, 5.4 per cent in Q3 and 6.2 per cent in Q4."
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.
Dispatch of the vaccine is likely to start by early Tuesday morning, sources said. According to the order placed, each dose of the vaccine has been priced at Rs 200 and with GST of Rs 10, it would cost Rs 210.
While the lender has Rs 17,000 crore of retail assets and land parcels in Juhu, Borivali, Worli, and Chembur in Mumbai, there may be a disconnect between the quality of DHFL's books and the value bidders ascribe to it.
The Serum Institute of India has stockpiled 40 mn-50 mn doses and is adding more every week. Most of these will come to India.
'A total overall of the existing way of working by abolishing taxes and allowing citizens to help themselves without any government bottlenecks and impediments,' observes Rahul Mishra.
Despite the absence of any notable price growth, transaction volumes are picking up in major Indian cities. The surge in sentiments is also backed by a significant rise in transparency in the industry.
India's most valuable company Reliance Industries was once fined for producing more than its licensed capacity, its owner and richest Indian Mukesh Ambani said on Monday as he pitched for a push to manufacturing to make the country 'Aatmanirbhar' or self-reliant.
A 1962 Nobel Prize medal won by biologist James Watson for the discovery of the structure of DNA has fetched more than $4.7 million (Rs 29 crore), setting a world record for any Nobel Prize sold at auction.
Zomato has the potential to be an equally important milestone for Indian equity markets, notes Akash Prakash.
FPIs' ownership in NSE-listed companies reached a five-year high of 22.74 per cent in December 2020 on the back of huge net inflow of Rs 1.42 lakh crore by such investors in the third quarter.
The Zee saga will see a long-drawn-out court battle before shareholders get any chance to vote on any proposal by the management or Invesco, says Prosenjit Datta.
Major automakers, including Maruti Suzuki, Hyundai, Tata Motors, Mahindra & Mahindra, Kia, Toyota and Honda, on Thursday reported healthy growth in passenger vehicles sales in June, recovering from the disruptions induced by the second wave of COVID-19. The country's largest carmaker Maruti Suzuki India (MSI) posted total sales of 1,47,368 units in June, up from 46,555 units in May. Its domestic dispatches to dealers last month stood at 130,348 units, up from 35,293 units in May, as easing of COVID-related restrictions helped the auto major to dispatch more units to dealerships.
By 2023, Vistara's hangars will house a total of 70 aircraft, up from the current 42.
Gautam Adani, who is diversifying into many businesses, saw a 48 per cent rise in his wealth to Rs 1.40 lakh crore and moved up two places in rankings to being the fourth richest Indian. Hinduja Brothers and HCL's Shiv Nadar were ranked 2nd and 3rd. Wipro's Azim Premji slipped two places to fifth place.
The weakness in the stock was because of inspections by the American drug regulator at its Halol plant in Gujarat which resulted in eight observations, as well as a downward revision of speciality drug payoffs.
The Johnson and Johnson and Sputnik vaccines should be approved now, as should the Pfizer and Moderna ones, suggests Naushad Forbes. Leave it to the companies to figure out how to put in place the right chilling infrastructure. Don't let a lack of approvals deprive the country of availability, suggests Naushad Forbes.
After 18 months of closure, what really could be salvaged? And the answer sadly is, precious little, Patience, perseverance and plenty of moolah is the way forward even assuming intent is in place, says Anjuli Bhargava.
Although there is headroom for further monetary policy action, at this juncture it is important to keep our arsenal dry and use it judiciously: RBI's Das.
Such minutes will be available within two weeks from the date of its confirmation in the next meeting of the central board and on being signed by the chairman in the same meeting, the RBI said in a statement on its website.
A likely easing in inflationary pressures in the forthcoming months will reopen the window for the RBI to once again prioritise growth and ease its interest rates.
The deal, which will kick in after the holiday season, in January, will give Apple more visibility among online buyers in India. The partnership could help Apple take on Chinese smartphone maker OnePlus, which has become one of the leading player in the premium smartphone market thanks to Amazon.
Renowned artist Tyeb Mehta's untitled canvas depicting a falling bull on Thursday got sold for a whopping Rs 15 crore at the second edition of Indian art auction held by the Christie's in Mumbai.
After the NHB asked housing finance cos to desist from offering interest subvention schemes, disbursement of loans are likely to get delayed, points out Tinesh Bhasin.
The company raised Rs 53,124 crore through a rights issue and sold nearly 33 per cent stake in Jio Platforms Ltd - the firm that houses telecom business and apps - to likes of Facebook and Google for Rs 152,056 crore.
How long will the RBI allow the government to borrow cheaply? A change in policy direction will see rates climb and bond values fall. Investors in debt funds are therefore at risk, as are people invested in the heated stock market, warns T N Ninan.
Three young Indians plan to cycle from Kochi in Kerala to Tokyo in time to attend the Olympics there next year.
'We are hoping by March, the government allows us to export and give it to the private market.'
Overall forex market sentiment suffered a sudden reversal of fortune contrary to expectation largely moving in line with local equities, reversing all early strong gains.
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