The Budget oration of the finance minister and the confidence with which she delivered it, along with the measures and the recent upsurge in the economy would all contribute to unleashing the storied 'animal spirits' and help the economy run on the growth path quite smoothly. Or so the government hopes, notes Shreekant Sambrani.
Among the Sensex firms, Tata Motors jumped over 3 per cent. Tech Mahindra, Infosys, HCL Technologies, Axis Bank, Mahindra & Mahindra, ICICI Bank, UltraTech Cement and Kotak Mahindra Bank were the other major gainers. NTPC, Asian Paints, Titan and Power Grid were among the laggards.
India on Tuesday told the UN General Assembly that the days when a few nations set the agenda and expected others to fall in line are over, underlining that its presidency of the G20 sought to focus on key concerns of the many, not just the narrow interests of a few.
Among the Sensex firms, Bajaj Finance emerged as the biggest gainer by climbing 2.95 per cent. Tata Motors, Bajaj Finserv, IndusInd Bank, Sun Pharma, Mahindra & Mahindra, State Bank of India, Larsen & Toubro, HDFC, HDFC Bank, Maruti, Reliance Industries and Bharti Airtel were the other major winners. HCL Technologies, Axis Bank, ICICI Bank, Tech Mahindra and Titan were among the laggards.
For India Inc, latest GDP figures signal a turnaround.
Benchmark BSE Sensex and Nifty soared over 2.5 per cent, logging their best single-day gain in more than three months, on Tuesday after value buying in banking, IT and oil stocks. The 30-share Sensex jumped 1,564.45 points or 2.70 per cent to settle at 59,537.07. During the day, it zoomed 1,627.16 points or 2.80 per cent to 59,599.78. The broader NSE Nifty advanced 446.40 points or 2.58 per cent to 17,759.30.
The food processing sector in the country with its vast potential has emerged as one of the major driver of economic growth. It is encouraging to note that while the country's GDP growth rate had increase from 3.5 per cent in 2002-03 to 9 percent in 2006-07, the food processing sector has grown from 7 per cent to 13.1 per cent during the same period. India is a country of over 1.10 billion consumers, there is a large untapped domestic market of 1,000 million consumers.
In a video conference with the chief ministers, fourth such interaction since March 22 when he first spoke to them about the pandemic, Modi stressed on the need for the states to strictly enforce lockdown guidelines in the coronavirus hotspots zones, and strongly pitched for the mantra of 'do gaz doori' (a distance of two yards) to protect people from the infection, according to a government statement.
Mumbai traffic, mobile internet speeds, and grocery and pharmacy visits are all showing lower numbers for the latest week.
The re-opening of the Chinese economy, as it moves away from its zero-Covid policy, could help stabilise commodity prices, according to some of the country's top metal companies. They view this as a positive for demand, at a time when markets such as the US and Europe have been largely weighed down by slowdown concern now. "Most of us in the metals business are hoping the Chinese economy picks up because half of any metal demand, including demand for aluminium, comes from China.
Benchmark indices Sensex and Nifty gave up early gains to close in negative territory on Thursday dragged down by IT and pharma stocks which fell amid fears of recession in the global economy. The 30-share Sensex opened higher and rose further to touch a day's high of 60,676.12 on gains in auto and capital goods shares. However, it gave up all early gains and later closed 412.96 points or 0.68 per cent lower at 59,934.01.
This lady has jet-set travel style that will bowl you over.
Modi and Albanese also reiterated their shared ambition for an early conclusion of the ambitious Comprehensive Economic Cooperation Agreement (CECA) that is expected to significantly expand bilateral trade ties.
'Only if the Budget springs some surprises we may see a halt in the selling.'
Benchmark Sensex trimmed early gains to close marginally higher while Nifty settled flat in choppy trade on Tuesday as gains in auto shares were offset by selling pressure in banking and energy shares. The 30-share BSE barometer closed marginally up by 37.08 points or 0.06 per cent to 60,978.75 with 15 of its stocks ending in green and the rest in red. The index opened higher and gained over 300 points to a high of 61,266.06 in early trade.
Who do you think should be part of India's playing for the World Cup opener against Australia?
India's economic growth will be above 6 per cent in the current fiscal as the country has managed to strengthen its macroeconomic stability and performance even in a period of large global shocks, RBI Monetary Policy Committee (MPC) Member Ashima Goyal said on Monday. Goyal further said that a global slowdown reducing India's export growth, geopolitics fueling oil and food prices, and erratic weather are some of the continuing risks that the country faces. "India has managed to strengthen its macroeconomic stability and performance even in a period of large global shocks.
Equity benchmarks Sensex and Nifty declined nearly 1 per cent on Friday, in tandem with a weak trend in overseas markets amid hawkish tone of global central banks. The 30-share BSE Sensex fell 461.22 points or 0.75 per cent to settle at 61,337.81. During the day, it tumbled 506.5 points or 0.81 per cent to 61,292.53.
Benchmark indices Sensex and Nifty slid for a seventh straight session on Monday, logging their longest losing run in the past five months, following a bearish trend in global markets amid concerns over aggressive rate hikes by developed economies. Fresh foreign fund outflows and losses in IT, auto and oil stocks also dented investor sentiments. The BSE Sensex declined by 175.58 points or 0.30 per cent to close at 59,288.35 with 17 of its shares posting losses.
"As I was working on agriculture, my family wanted me to take over the management of our plantations. But my aim was to master the art of developing new varieties, that is genetics and breeding. As the proverb has it, we reap what we sow. Consequently, sowing the right things is very important," M S Swaminathan had once said.
Finance Minister Nirmala Sitharaman on Wednesday raised the personal income tax rebate limit, doled out sops on small savings and announced one of the biggest hikes in capital spending in the past decade as she did a tight rope walk in the Budget between staying fiscally prudent and meeting public expectations in the year before general elections.
From the seas to the stars, this partnership will now be deepened by the defining role of technology, the statement said.
Srinivas Bhogle and Purnendu Maji present Rediff.com's Most Valuable Player Index of IPL 2023 after Game 52.
'Challenges will come but we will stay the course. No big step can be taken if one is afraid of criticism. We will not flinch from criticism,' says Railways Minister Piyush Goyal.
Asia's richest man Gautam Adani, besides looking at opportunities to expand his vast empire, is hooked on ChatGPT - the programme that trawls vast amount of information to generate natural-sounding text on virtually anything - from crafting jokes to writing ad copy, debugging computer code, to even generating poems and essays. Adani, whose conglomerate has in recent years diversified from mines, ports and power plants into airports, data centres and defence, penned musing from his visit to Davos to attend the World Economic Forum meeting. "From a meetings perspective, this was perhaps my busiest WEF as I met over a dozen heads of states and several business leaders," he wrote on LinkedIn, talking of new geopolitical couplings, climate change and tight-lipped evangelists and AI.
Srinivas Bhogle and Purnendu Maji present Rediff.com's Most Valuable Player Index of IPL 2023 after Game 61.
Puri said the government has a moral duty to provide energy at affordable rates to consumers.
'Nirmalaji must consider herself a very lucky finance minister, partly because of the government's response to covid and partly because we as a nation have done very well as an economy, post pandemic.'
'I'm pitching India for the strengths we offer, including the English language, engineers, doctors, nurses, professionals, innovative talent of startups.'
'I believe that as we produce more, our cost will come down further. We will maintain our competitiveness.'
Chennai Super Kings will be wary of Mumbai Indians, which has a superior record in Chennai and has gathered some momentum by winning their last two matches.
Both teams will be looking to get out of the danger zone as eight teams remain in the play-off contention.
There's an entire gurdwara dedicated to immigration. People present tiny airliner models here in the hope that Waheguru will soon give them a ticket, passport and visa to leave, reveals Shekhar Gupta.
'The hour is very late, and the choice between triumph and tragedy knocks at our door,' says Ajay Shah.
A double-digit food inflation has become a standard feature of our economic history now for the sixth year.
Srinivas Bhogle and Purnendu Maji present Rediff.com's Most Valuable Player of IPL 2023.
Investors must be cautious and follow a prudent diversification strategy to mitigate against any risks in case of any unforeseen events.
Foreign portfolio investors (FPIs) infused Rs 11,630 crore in the Indian equity markets in April on the reasonable valuation of stocks and appreciation in the rupee. This came after FPIs infused a net sum of Rs 7,936 crore in equities in March, mainly driven by bulk investment in the Adani Group companies by the US-based GQG Partners. However, if one adjusts for the investments of GQG in Adani Group, the net flow was negative.
'If you look at the order books of capital equipment companies or money deployed on the ground, there is forward movement in terms of actual investment by the private sector.'
Indo-Pacific region. Senior officials from the ministries of External Affairs and Defence, and the US departments of Defence and State met here for the India-US 2+2 Inter-Sessional meeting.
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