Container Corporation of India (Concor) has been the worst performer among major logistics & port stocks registering returns of about 4 per cent over the past three months as compared to 10-12 per cent for peers Gateway Distriparks and Adani Ports and SEZ. Uncertain outlook on the export-import (EXIM) trade front, market share loss, lack of progress on divestment, and weak June quarter results weighed on the stock. Volume and margin movement will be key triggers for the stock going ahead. As was the case in the previous quarter, margin performance was muted even in the June quarter. Operating profit in the quarter was down 17 per cent at Rs 391 crore missing estimates by over 15 per cent. Operating profit margins at 20.4 per cent, too, were down sharply by 350 basis points over the year-ago quarter.
Rediff readers shared these interesting photographs of India from their travels.
The active cases comprise 0.03 per cent of the total infections, while the national COVID-19 recovery rate remained at 98.76 per cent, the ministry said.
Finance Minister Nirmala Sitharaman on Tuesday asked banks and other financial institutions to ensure that their customers must update nominees to help resolve the problem of unclaimed money in future. "I want the banking system, the financial ecosystem including the mutual funds, stock markets to keep in mind that when someone deals with his (customer's) money, the organisations will have to think about the future and ensure that customers nominate their heirs, give the name and address," Sitharaman said speaking at the Global Fintech Fest (GFF) in Mumbai. According to a report, the banking system alone has more than Rs 35,000 crore of unclaimed deposits, while the overall quantum of the unclaimed money is said to be more than Rs 1 lakh crore.
His attack on the government came days after Indian Army personnel clashed with Chinese soldiers in the Tawang sector in Arunachal Pradesh.
Leading scientists and experts said this monumental accomplishment not only marks India's indelible imprint on lunar exploration but also demonstrates the prowess of human collaboration, determination, and cutting-edge technology.
What some of our leaders were up to on Tuesday, December 13.
'With Ramaland, the tourism department is looking to attract children and adults alike. It'll be learning with entertainment.'
He said a detailed schedule of the Yatra for J&K is being worked out in consultation with the agencies concerned, especially the security establishment.
The National Restaurant Association of India has written an advisory to its members against Zomato Pay and Swiggy Diner discount programmes saying these are against the interest of restaurant owners. The advisory alleges that 'middlemen' Zomato and Swiggy are making money at the cost of restaurants, who sign up to be on the Zomato Pay and Swiggy Diner programmes by making them compulsorily offer discounts and also pay commission fee on every transaction on these platforms. "Zomato Pay and Swiggy Diner both operate broadly on the same construct -- no cost/subscription fee to the customer to participate; restaurants must compulsorily offer a discount in the range of 15-40 per cent to be part of the program," NRAI wrote to its members.
Navy Day is celebrated every December 4, as on this day in 1971 during the Indo-Pak war Indian Navy undertook Operation Trident in which its missile boats carried out an audacious attack to sink enemy ships.
The government will develop a mechanism to ensure that e-commerce companies and entities that have adopted Open Network for Digital Commerce (ONDC) architecture are compliant with the rules. Non-compliance may result in a penalty. "We will have our own evaluation system, and if we find any player is not sticking to it, then we will take action. "Participants will have to be compliant with the rule of the land," Sanjiv, joint secretary at the Department for Promotion of Industry and Internal Trade (DPIIT), told reporters on Thursday.
Prime Minister Narendra Modi on Tuesday dedicated to the nation the Mahakal Lok corridor at Ujjain in Madhya Pradesh.
Amid the controversy over the 22 locked rooms in the basement of the Taj Mahal, the Archaeological Survey of India has released some photographs of closed underground cells.
As the preparations are in full swing, here's what to expect at this year's Independence Day in different parts of the country.
The banned Chinese apps, which include TikTok, Shareit and UC Browser, earn revenue mainly from online advertisements, subscriptions, and commissions for selling products. India is the biggest driver of these Chinese apps due to the population. The ban on the 59 Chinese apps will negatively affect the valuations of the companies, especially those going for IPO.
'The Kuki-Zo are aware of this rich resource in their areas and feel the Meitei push for ST status is because of this reason'.
India is looking to win the upcoming tournament for Virat Kohli like the batch of 2011 won it for Sachin Tendulkar, feels Virender Sehwag.
The front seats upped the fashion quotient considerably at the Dior Gateway of India show.
Describing the opportunities of collaboration between the two countries as 'endless', Bennett, in a special video message released on Saturday evening, stressed that 'the ties between Israel and India are strong and together they will only grow stronger', as the two nations celebrated 30 years of establishment of diplomatic relations.
The authorities also declared unsafe a mosque and a religious school for girls at Nai Basti village in Thathri, 35 kilometres from Doda town along the Kishtwar-Batote National Highway.
Rediff.com beings you glimpses of Navy Week celebrations in Mumbai.
Adani Airports is planning to centre its airport business around Mumbai and Ahmedabad by developing them as gateway airports, feeding them with traffic from other airports in the company's portfolio. The Ahmedabad-based conglomerate - with investments in logistics, transportation, utilities and energy - intends to spend Rs 35,000 crore in the airport business in the next five years. This forms the bulk of the conglomerate's total capex of Rs 50,000 crore. According to a presentation given by the company in an investor call with Bank of America, gateway airports of Mumbai and Ahmedabad will be connected with the feeder airports of Lucknow, Guwahati, Trivandrum, Jaipur and Mangalore.
Logistic players have seen a sharp correction at the bourses over the past six months as intense competition from new-age-tech startups, higher freight rates, and weak macros dented listed players' growth outlook. Analysts warn that the emergence of tech-based startups could weigh on organised players' profit-pool, and can potentially erode their market share. Thus, a stock-specific strategy would be prudent at this juncture with focus on companies that are rapidly innovating and investing in technology.
Dear readers, how will you celebrate your Tiranga this 75th Independence Day? Send us your pictures!
No pandemic-related death was recorded in Mumbai on Thursday.
Railway authorities have increased the presence of security personnel in the Guwahati Railway Station.
An FIR had been registered against Prabhu at Colaba police station in south Mumbai under section 153 B (Imputations, assertions prejudicial to national integration) of the Indian Penal Code.
Sunny rocks the shirt dress... Shefali looks back on friendship... Vidya turns 50...
He alleged that India "lost access to 26 out of 65 Patrolling Points" which was not the case before May 2020, and questioned the Modi government's "silence" on the issue.
Nasper-backed fintech firm PayU has started talks to acquire domestic payment gateway major BillDesk, and the deal size could be in the range of $3-4 billion, sources in the know said. "BillDesk has been open to being acquired for some time now, but in the past the valuations that the company was seeking proved to be a hurdle," said a source. "Three years ago too, PayU had approached BillDesk for an acquisition, but things didn't go ahead due to high valuations. "BillDesk had asked for $2-billion value then," said the source.
Get to know Femina Miss India Arunachal Pradesh 2022 Tengam Celine Koyu.
Fair trade regulator CCI on Thursday alleged that Google has created a digital data hegemony and called for a market space with "free, fair and open competition". Concluding the arguments of the Competition Commission of India (CCI) before the appellate tribunal NCLAT in the Google matter, Additional Solicitor General N Venkataraman said a market with greater freedom for all players would be in total sync with principles of free competition rather than the 'walled garden' approach of the internet major. On October 20 last year, the CCI slapped a penalty of Rs 1,337.76 crore on Google for anti-competitive practices in relation to Android mobile devices.
The landfall process of the eye of the extremely severe cyclonic storm Tauktae, which hit the Gujarat coast in Saurashtra region between Diu and Una, ended around midnight, the India Meteorological Department (IMD) said.
A court in Canada has ordered the seizure of amounts collected by the International Air Transport Association (IATA) on behalf of Air India and the Airports Authority of India (AAI). Separate orders were passed on November 24 and December 21 on pleas by shareholders of Devas Multimedia Private Limited who have filed multiple petitions to enforce arbitration awards against the Indian government. According to a Devas spokesperson, more than $30 million has been seized to date under the IATA action.
The government may not auction spectrum frequency range between 27.5-28.5 gigahertz and leave it for satellite services, according to official sources. The Telecom Regulatory Authority of India (Trai) had recommended a base price for this frequency range and suggested that it can be used for both mobile as well as satellite services. Two official sources acknowledged that Department of Telecom (DoT) is considering auctioning spectrum only up to 27.5 Ghz as sharing between the two services is difficult.
Shiv Sena leader Sanjay Raut on Tuesday said if anyone talks of "freedom of Kashmir from India" then it will not be tolerated. His comment came when he was asked about the girl holding a 'Free Kashmir' poster at the Gateway of India in Mumbai during the protest against Jawaharlal Nehru University violence.
The decision was taken in a high-level review meeting chaired by principal secretary to prime minister PK Mishra.
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