Equity benchmark Sensex tumbled 674 points on Friday, weighed by losses in banking stocks as an unabated spike in new coronavirus cases fuelled uncertainty over the economic impact of the pandemic. After hitting a low of 27,500.79 during the day, the 30-share BSE barometer ended 674.36 points or 2.39 per cent lower at 27,590.95. The NSE Nifty shed 170 points, or 2.06 per cent, to finish at 8,083.80.
Predicting a gloomy economic future, a top United Nations trade and development agency today said the governments still have a long way to go to tide over the financial crisis.
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.
'Kindling the private sector's animal spirits is more important than focusing on how government can give jobs on its own.'
The secret behind designer Payal Singhal's stunning designs.
"The EU economy will emerge from recession in the second half of this year, although for 2009 as a whole, GDP is still set to fall by some four per cent."
'Parsis are brought up with a great sense of the importance of truth and speaking your mind.'
China's economy, which suffered 6.8 per cent slump in the first quarter due to the coronavirus pandemic -- the worst in 44 years -- bounced back posting 4.9 per cent growth between July and September buoyed by the government's sweeping efforts to stimulate demand and consumption.
Recently, Suzuki Motor Corp (SMC) in an investor presentation expressed strong intent to enter the electric vehicle (EV) space. This is part of a larger strategy the Hamamatsu-based firm has drawn up in developing electrification of technologies as it seeks to achieve carbon neutrality. The significance of this presentation is that it marked the first time that the Japanese carmaker spelt out its EV strategy with well-defined timelines. SMC plans to develop electrification technologies by 2025, fully implement them in products from the same year, and make a full-scale quantitative increase from 2030.
'Our adult minds can use logic to understand the consequences, and our responsibilities have enabled us to accept this reality faster.' 'But our little ones still have no clue about what is going on.'
As often is the case on celluloid, romanticising death is as significant as making every moment count where a young life's passing makes the realisation all the more heartbreaking and momentous.
Many analysts find market expensive, even at current levels.
Getting ministers from various parties in the new coalition to pull in the same direction is the real challenge.
'We are very watchful about inflation and growth. But the main challenge is economic revival and growth.'
Global rating agency Fitch on Friday pegged India's growth at 5.5 per cent in the current fiscal and 6 per cent in 2015-16 and affirmed the country's rating outlook at stable level.
'But one of the important things to remember is that what we are seeing today in India -- the destruction of the forests, the opening up of the forests to mining companies.' 'It's a horrifying thing that's going on.' 'Yet, if you look at who owns the mining companies, you will see that almost always they are vegetarians!' 'They are people, who in their own lives would probably not even hurt an insect, but yet have no qualms about destroying an entire ecosystem.'
In a move likely to influence future drug price regulation in the country, the National Pharmaceutical Pricing Authority (NPPA) has started a process to understand how other countries carry out this function.The authority has already studied the relevant regulatory systems in at least eight major countries. It has also finalised a round-table meeting on April 11 in New Delhi to sensitise stakeholders on the need to have an international outlook.
'Business will be 20% of what it was before the lockdown.'
The rally was led by IT stocks, with TCS and Infosys rising up to 5 per cent. Yes Bank, on the other hand, was the biggest loser on both the bourses, cracking nearly 12 per cent
Naukri.com's Hiring Outlook Survey for 2020 reveals the jobs and sectors that saw a surge in demand during the pandemic.
In all, RBI has cut interest rates by 110 bps this year. But this has not yet led to a boost in economic activity. While the growth rate has slowed to a five-year low, consumer confidence is waning and foreign direct investment has plateaued.
Strong month-end demand for the US currency mainly from oil importers along with currency futures expiry related purchases predominantly weighed heavily on the forex market and haunted investor sentiment.
Fitch Ratings director Thomas Rookmaaker said India's debt-to-GDP ratio is likely to rise to 76 per cent from 70 per cent currently due to wider fiscal deficit and low economic growth.
The management, however, is a bit wary about near-term performance.
He was among the key plotters of England's historic 2012 Test triumph in India and former coach Andy Flower sees no reason why an encore is not possible this year as he believes the visitors have enough 'formidable players' to challenge the upbeat hosts.
The venue for Saturday's meeting was shifted at the last minute from the headquarters of the India Banks' Association in Cuffe Parade to avoid media glare.
'The market won't wait for earnings to recover.'
With India's GDP clocking a lower contraction of 7.5 per cent in the September quarter, industry and experts expressed confidence of further recovery in the coming months and said the government's actions are bearing fruit. In a tweet, Vedanta chairman Anil Agarwal said, "Q2 #GDP numbers show that economy is recovering. Government's efforts on stimulus and reform are showing results. Hopefully, we will have positive growth in H2 FY21 and double digit growth in FY22."
India's economy recovered faster than expected in the September quarter as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 per cent and held out hopes for further improvement on better consumer demand. The gross domestic product (GDP) had contracted by a record 23.9 per cent in the first quarter of the 2020-21 fiscal (April 2020 to March 2021) as the coronavirus lockdown pummelled economic activity.
Are you planning to buy a flat in the near future? If yes, then should you wait for another 6-9 months given the global meltdown in financial markets?
Current Account Deficit is projected at 1.2 per cent and 1 per cent of GDP in 2014-15 and 2015-16.
The UK India Business Council expects more emphasis to be put on improving bilateral economic ties.
The panel, headed by former RBI governor C Rangarajan, in its economic outlook for 2007-08 also projected inflation to remain within 4 per cent.
Films that amazed Aseem Chhabra at the El Gouna Film Festival in Egypt.
Employees in India were more optimistic about the future of their national economy.
The Sensex, which began the year at 26,160.90 level, has shed nearly 1,400 points.
Per capita income in India is increasing, including in tier-II and tier-III cites. In these cities the competition is less, as are the rentals. It is very viable as a business proposition to open showrooms in these cites.
There is a narrow chance that the central bank may cut rates in the future, according to a poll of 15 economists and treasurers.
According to the report, Russia tops the table with 6,375 warheads, followed by the United States with 5,800, and the United Kingdom with 215 warheads.
