Market ended lower for the third straight session led by IT stocks amid downgrade by Citigroup.
'This market is very expensive in some pockets, dirt cheap in some, and the belly of the market is reasonably valued.'
Most of the changes have come about in the last four years and ITC is now reaping the dividends - standalone revenues from the non-cigarettes FMCG business have grown 40 per cent from FY17 to Rs 14,728.21 crore in FY21 and pre-tax profits 30 times to Rs 823.69 crore. The business accounted for 30.58 per cent of gross revenues and 4.85 per cent of pre-tax profits in FY21. "In the last four years, our margins in FMCG have gone up by 640 basis points (bps) and EBITDA margins have been moving up consistently. "We created levers that enabled a sustained growth trajectory," said ITC chairman and managing director Sanjiv Puri. Puri took charge as the chief executive officer in 2017; in 2018, he was redesignated managing director and effective May 2019, he became chairman.
Nomura Group Study found that in 2019, out of the fifty-six companies which shifted their production out of China, only three of these invested in India; while 26 went to Vietnam, 11 to Taiwan, and 08 to Thailand. In April 2020, Nikkei noted that out of the 1,000 firms which were planning to leave China and invest in Asian countries, only 300 of them were seriously thinking of investing in India.
'The mismatch between valuations and fundamentals is startling,' warns Devangshu Datta
The rise in India's relative attractions lie in the precipitous decline in safety of the more popular destinations, notes Kanika Datta.
Thimpu apparently didn't think it necessary to take Delhi into confidence. Bhutan is loathe to getting dragged into the geopolitical rivalry between India and China. And for Beijing, this was too good an opportunity to be missed to thumb its nose at the powers-that-be in Delhi, points out Ambassador M K Bhadrakumar.
The rupee has not depreciated enough against other currencies.
A smartly executed reform-recap will be the best booster for the economy, says Ajay Chhibber.
Once tipped to emerge as the biggest exporter, the pharmaceutical industry is yet to acquire the scale of those in software services, says Krishna Kant.
'If India has to emerge as the world's laboratory and a global innovation hub, the minds of our youngsters must get an opportunity to flourish.'
The turmoil on the Street and a continued fall of the rupee may affect growth stocks, pushing equity investors back to the relative safety of defensive counters, or forcing them to flee markets, or both.
IT services sector has a huge gender pay gap of 34 per cent.
The record breaking spree was led by index heavyweights, financials and metal stocks.
Sensex plunges 322.39 points to over 1-month closing low of 27,797.01; Nifty tumbles 97.55 points to 8,340.70.
As a model of transport, the A380 strikes a parallel -- a shared fragility -- with giant container ships, observes Shyam G Menon.
The Narendra Modi government's alacrity in promoting ease of tax administration, a critical component in the ease of doing business index, has set in motion several incremental policy and administrative reforms, says Mukesh Butani.
India stands at an embarrassingly low 130 among 190 countries in the World Bank's Ease of Doing Business rankings. But in our worry over it are we forgetting the big picture -- to make India an attractive investment destination -- wonders Avirup Bose.
India does not feature in the top 100 countries on eight of the 10 indicators of the World Bank study.
"Getting the award in the year of Mahatma Gandhi's 150th birth anniversary is personally significant for me. When 130 crore people take a pledge, any challenge can be overcome," the prime minister said.
Gains were led by index heavyweights Reliance Industries and Infosys.
Softening rural consumption and the likelihood of weak corporate earnings in the March quarter saw investors dump stocks.
Markets across the globe gained after China Securities Regulator removed its four-day-old circuit-breaker system.
India needs to sustain a GDP growth rate of 8 per cent to become a five trillion dollar economy by 2025, the Economic Survey has stated.
Investors booked profit ahead of the outcome of the two-day US Fed policy meet which begins today.
'There is no question of diverting funds. This government is pro-poor, pro-worker and pro-progressive.'
2019 appears a story of two halves for Indian equities - a more difficult first half might precede a stronger second half, said Abhiram Eleswarapu, bottom, left, Head of India Equity Research, BNP Paribas in an interview with Ashley Coutinho.
Engineering major BHEL rebounded from its day's lows to end around 1% higher.
Dream rally: Investors' wealth doubled in 5 years in India's equity market on Friday.
'Rather than cutting and pasting from advanced economies, we should use basic economic principles to think about what is right for India at the stage of development at which we are,' says Chief Economic Advisor Krishnamurthy Subramanian.
The Goa Foundation started filing writ petitions before the Bombay High Court from 1992 onwards against several mining companies.
Snapping its 3-day winning spree against the American currency, the rupee on Wednesday dropped by 21 paise to end at 66.64 on fag-end dollar demand from banks and importers despite a sharp rally in domestic equities.
The dollar gained strength with the emergence of the US as the only developed economy showing signs of recovery.
The Sensex ended at a fresh record closing high of 28,889 while Nifty ended at a fresh record closing high of 8,730.
'From the investor's point of view, a real change would happen only when business environment in all our states qualitatively improves,' says NITI Aayog Vice-Chairman Rajiv Kumar.
Barcelona head into Saturday's 'Clasico' against Real Madrid with a whopping 11-point gap over their bitter rivals in the Liga title race -- and they also have the advantage in financial terms, albeit by smaller margins.
India has not been able to compete with countries such as Bangladesh and Vietnam.
Slowdown persists in China. India's GDP estimates for 2015-16 are liable to be pared; projections for 2016-17 are lacklustre.
Experts prefer domestic consumption-driven plays and defensives such as information technology and pharmaceuticals
'We all wanted a strong Centre with a decisive mandate from the people, to allow them to take bold decisions.'
