The number of times public sector undertakings (PSUs) have held conference calls with investors, their capital management, and debt financing are among the parameters that the Centre will use to judge their performance for the first time, a senior official in the know said. The government will evaluate PSUs for FY22 based on new parameters that were finalised by the Department of Public Enterprises (DPE) in consultation with the Department of Investment and Public Asset Management (DIPAM) last year, the official said. The government had included more conditions in the memorandum of understandings (MoUs) - used to set annual targets - that public sector enterprises sign with the DPE every year. These included a consistent dividend policy, which seeks to transfer dividends by PSUs every quarter; and market capitalisation or share price improvement over the sectoral index on an annual average basis for listed companies.
While Rakesh Jhunjhunwala is up 14.9% during the year to Rs 12,381 cr, Ashish Dhawan is up 68.4% to Rs 810 cr, Ashish Kacholia is down 23.4% to Rs 515 cr, Rajiv and Dolly Khanna are down 74.6% to Rs 116 cr and Vijay Kedia is down 6.2% to Rs 294 cr.
The company, which already has around 66 per cent market share in the hatchback segment and about 50 per cent in the overall domestic passenger vehicle segment, currently sells Vitara Brezza and S-Cross in the SUV segment. In an interaction with PTI, MSI managing director and CEO Kenichi Ayukawa acknowledged that there was some lag in launching new products due to the pandemic but the company is now on track regarding new model launches.
RBI said inflation in the second half of the current fiscal is projected at 2.7-3.2%. It retained its GDP forecast for the current fiscal at 7.4%
There is so much liquidity in the system, in the global economy, and that's why the stock market is very buoyant. It will certainly witness correction in the future: RBI's Das.
The country's largest insurer LIC on Tuesday listed its shares at a discount of 8.11 per cent at Rs 872 per share on the NSE. On the BSE, the shares got listed at Rs 867.20 apiece, down 8.62 per cent over the issue price of Rs 949 a share. LIC had fixed the issue price of its shares at Rs 949 apiece after a successful initial public offering, which fetched Rs 20,557 crore to the government.
With inflation under control, the Monetary Policy Committee's (MPC's) job is to support growth because the economy had recovered well from the lows in the initial months of the pandemic, according to the panel's members, who met in the first week of this month. The minutes of the meeting show the Reserve Bank of India (RBI) governor in his statement said: "Given the sharp moderation in inflation along with a stable near-term outlook, monetary policy needs to continue with the accommodative stance to ensure that the recovery gains greater traction and becomes broad-based." Ashima Goyal, external member of the MPC, said: "The current macroeconomic configuration and its expected future evolution imply there is space for the MPC to continue to support the revival of the economy with inflation remaining in the target band."
Remember, anyone can make two plus two four. But if you can make two plus two five, you will be adding value, management guru Virender Kapoor advises job-seekers.
It came as a surprise to all stakeholders - competing telecom companies (telcos), most analysts and even the government's internal projections on revenues from the 5G auctions. Reliance Jio disrupted all calculations by paying a stiff Rs 40,000 crore to buy 10 MHz of spectrum in the 700-MHz band, globally considered a key band for efficient 5G service coverage, along with the default 3.5 GHz band and the ultra-high speed and low-latency millimetre band of 26 GHz band. So what made Jio pay almost 45 per cent of its total spend in this auction for the 700 MHz band - much more than what it rustled up even for the 3.5 GHz band?
Moody's Investors Service on Friday projected India's growth at zero per cent for the current fiscal and said the negative outlook on sovereign rating reflects increasing risks that GDP growth will remain significantly lower than in the past. The outlook also partly shows weaker policy effectiveness to address economic and institutional issues, it noted in the update to its November 2019 rating forecast.
The Nifty Bank index has come off 15 per cent from its peak in February, underperforming the benchmark Nifty which is down 6%.
The severity of the second wave of COVID-19 infections in India poses a key challenge for the FMCG industry and the spread of the virus to rural areas on a relatively higher scale as compared to the first wave is also expected to weigh on industry growth outlook, according to ITC Ltd. There is heightened uncertainty around the timing and shape of the recovery trajectory of overall economic growth in India due to the virus, the company said in its Annual Report for 2020-21. In terms of consumption, urban-led recovery may be relatively muted compared to the first wave as consumers switch to precautionary savings mode and rising healthcare costs eat into household spending, while rural demand may also be blunted by the large-scale spread of the virus to the hinterland in the second wave.
According to the IHS Markit India Business Outlook, predictions of softer activity growth underpin the downward revisions of profit outlook, subdued hiring plans and relatively muted capital expenditure.
Minutes of the MPC meeting show Das felt economy needs more monetary stimulus as inflation outlook remains uncertain.
Nepal's decision to ban the import of non-essential items amid depleting forex reserves may hit Indian exports. The country's central bank - Nepal Rastra Bank - last week instructed commercial banks not to open letters of credit (LCs) for importing non-essential items. This is to prevent further decline of the country's foreign exchange reserves. However, it has not issued any formal communication yet.
'For equities, inflation trending upwards but within the range of expectations can actually be a big positive as it helps earnings and may shift flows from bonds to equities.'
'Younger investors start their journey with very little capital so they are risking less while they have a lot of time to experiment and learn early on.'
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.
Tata Motors on Wednesday launched its Tiago EV with introductory prices for first 10,000 customers ranging between Rs 8.49-11.79 lakh
The country's manufacturing sector activity grew at the slowest rate in four months during March, hampered by softer rises in new business as international demand faltered owing to the coronavirus pandemic, a monthly survey said on Thursday. The headline seasonally adjusted IHS Markit India Manufacturing PMI fell to 51.8 in March, from 54.5 in February, signalling the slowest improvement in business conditions since November 2019. This is the 32nd consecutive month that the manufacturing PMI has remained above the 50-point mark.
When we look at the pension expenditure of the states, so far, there has been no gain from the NPS reform. Pension expenses as a share of total state revenue expenditure rose from 4% in 1991-1992 to 10% at the time of the NPS reform, and have risen further to about 12%, observes Ajay Shah.
Prime Minister Narendra Modi on Friday mooted the idea of "One Nation, One Uniform" for the police, saying it is just a suggestion for consideration and he is not trying to impose it on the states.
'Periods of high volatility are usually bad for mid-caps and this is something that has to be kept in mind.' 'Focus on quality is of paramount importance.'
The rupee appreciated 7 paise to 79.74 against the US dollar in early trade on Thursday as a positive trend in domestic equities supported the local unit. However, a strong American currency overseas and forex outflows restricted the rupee's gain, dealers said. At the interbank foreign exchange, the rupee opened at 79.72 against the American dollar, then went lower to trade at 79.74 against the greenback in early deals, registering a gain of 7 paise over the last close.
An overwhelming majority of Indians (84 per cent) feel it is safe to return to their workplaces, according to a Deloitte survey that suggests consumers in India are showing a positive spending intent and brighter outlook towards the future. The latest monthly analysis (wave 220) of Deloitte's Global State of the Consumer Tracker, signals a cautious consumption revival in the country, aided by the decreasing number of Covid-19 cases and an improved vaccination drive. The Global State of the Consumer Tracker is an online survey based on responses from 1,000 people each in 18 countries including India.
Axis Bank Managing Director & Chief Executive Officer Shikha Sharma on the new mechanism for non-performing loans, the bank's loan portfolio, industry outlook and the bank's future plans.
With a robust outlook for mineral-led growth in India, Anil Agarwal-led Vedanta Limited is looking to invest up to $20 billion across its businesses, which includes doubling of silver production and steel capacities. In a virtual press conference had last month, Agarwal said the company planned a capex of $5 billion over a period of three years. The company has not given a timeline for $20-billion investment.
You will need a sharper eye for stock picking and a greater appetite for risk than most retail investors possess, recommends T N Ninan.
The carrier is implementing a number of measures.
'Our competitiveness with China is very important.' 'If the exchange rate depreciates, it is good for us because it helps in our competitiveness.'
The country's largest lender SBI on Thursday reported a 4.20 per cent decline in consolidated December quarter net at Rs 6,257.55 crore, largely because of a higher base in the year-ago period where it had benefitted from a Rs 4,500 crore one-off income. On a standalone basis, the city-headquartered lender's net profit came in at Rs 5,196.22 crore as against Rs 5,583.36 crore in the year-ago period and Rs 4,574.16 crore in the preceding September quarter. SBI chairman Dinesh Kumar Khara told reporters that the year-ago period had seen the resolution of the Essar Steel loans, resulting in an over Rs 4,000 crore interest income and Rs 500 crore other income benefit.
L&T is the preferred pick, but given the opportunities in the power T&D space analysts are also positive on KEC, ABB and Kalpataru
He said companies with a good strategy, technology, capital, liquidity and a motivated team will emerge as winners after the crisis.
Few people know Ratan Tata as well as R K Krishna Kumar does. Widely perceived to be among the managers closest to Tata, Krishna Kumar assesses Ratan Tata, the man and business leader, in this exclusive interview to Rediff.com's Vaihayasi Pande Daniel.
Any shift in investor sentiment may result in speculators fleeing the gold market, driving its price down sharply, quickly. One significant risk for gold is a near-term reversal in the dollar, which recently fell to a two-year low.
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.
In the week ended June 6, only 2.3 per cent of the households reported that their incomes were higher than a year ago. This was the lowest-ever proportion of households reporting an increase in income in any week, reveals Mahesh Vyas.
Barbeque Nation IPO: The promoters hold 60.24 per cent stake, CX Partners owns 33.79 per cent and Rakesh Jhunjhunwala's investment firm Alchemy Capital holds 2.05 per cent in the company.
More and more PE players are willing to test the waters now, just in case they become early entrants in a future booming business.
Fresher hiring sentiment is highest in India, with 17 per cent employers keen on recruiting fresh graduates in the July to December 2021 period against 6 per cent globally. According to the Career Outlook Report by TeamLease EdTech, conducted across 18 sectors and 14 cities, the hiring sentiment in the country has registered a 2 percentage point increase over the February-April 2021 period. In terms of sectors, those that have been able to withstand the impact of the pandemic and witnessed a stronger hiring sentiment are information technology (31 per cent), telecommunication (25 per cent) and technology start-ups (25 per cent).
