The automobile sector has started seeing volume growth, the crucial economy segment included. Maruti Suzuki India (MSIL) could be a big beneficiary as the country's largest passenger vehicle (PV) maker has seen several favourable developments including volume recovery. Demand for its new sports utility vehicles (SUVs) appears to be good, and the company has 4 lakh outstanding orders by April 2023, (up from 3.6 lakhs in January 2023). Siam (Society of Indian Automobile Manufacturers) estimates that passenger vehicle demand would grow by 5-7 per cent in the 2023-24 financial year (FY24) and MSIL is likely to beat the market growth.
But there is no unanimity within the Obama Administration on this issue that has the potential to jeopardise the Indo-US business ties.
Mutual fund houses have been on an equity buying spree in the past three months as they have invested a net amount of Rs 55,000 crore in them between January and March 2023. The number is more than double the amount deployed in the preceding three months (October to December), signalling improved valuations and favourable economic indicators. The valuations, which had peaked in October 2021, returned to its long-term average in March 2023.
10 high dividend paying stocks across sectors that are expected to maintain or even increase their pay-outs in FY23 thanks to faster earnings growth in the last four quarters.
The borrowing in the first half of the next fiscal will be less front-loaded (borrowing in tranches) than the similar period of the outgoing fiscal because access to overseas borrowings will be lot more improved next fiscal, finance secretary Ashok Chawla told reporters here today after a meeting with the Reserve Bank of India.
In a rare feat, the Centre has managed to bring down fiscal deficit marginally to Rs 83,843 crore (Rs 838.43 billion) during the first six months of this financial year from Rs 86,328 crore (Rs 863.28 billion) till August.
Leading biotechnology firm Biocon Ltd on Tuesday reported a 22 per cent decline in profit after tax for the half year ended September.
The US is taking several measures, such as increasing the number of staffers, to further facilitate the issuance of business visas in India, a senior US government official said on Tuesday. "We have also made significant progress by issuing more H1B and L visas in 2022 than we did even in 2019 before the pandemic. "This is a significant improvement. We are in the process of raising our staff," Arun Venkataraman, US Assistant Secretary of Commerce for global markets, said.
During his presidential campaign, Obama had pledged to make comprehensive immigration reform a top priority in his first year as President.
WHO says the regulatory procedures in place for the licencing of pandemic vaccines, including procedures for expediting regulatory approval, are rigorous and do not compromise safety or quality.
Public sector oil companies lost Rs 9800 crore (Rs 98 billion) in the first six months of 2004-05 fiscal for selling petroleum products below the import cost, Petroleum Minister Mani Shankar Aiyar said on Tuesday.
The government will borrow Rs 3.7 lakh crore from the market in the first half of 2012-13 through the sale of dated securities. This amounts to 65 per cent of the borrowing plan for the new financial year starting next month.
The recovering valuations, will lead to enhanced optimism among investors about funding startups.
The government on Monday said banks have provided Rs 95,064 crore (Rs 950.64 billion) in agricultural loans in the first six months of this fiscal, though the amount is less than half of the total farm credit disbursed in the entire last fiscal.
The Centre's gross borrowings stood at Rs 94,030 crore so far even as it aims to mop up Rs 25,000 crore during October 2003-February 2004.
Reopening the country to people seeking green cards, or legal permanent residence, Biden in his proclamation on Wednesday said that the policy of former US President Donald Trump does not advance the interests of the United States.
India's gold demand increased by 19.2 per cent to 76.1 tonne during the April-June quarter this year, largely due to low base effect, owing to the nationwide lockdown that hit economic activity last year, the World Gold Council (WGC) said in a report. The overall gold demand during the second quarter of 2020 calendar year stood at 63.8 tonnes, according to the WGC's 'Gold Demand Trends Q2 2021' report. In value terms, India's gold demand witnessed 23 per cent growth during April-June quarter at Rs 32,810 crore, compared to Rs 26,600 crore during the corresponding period of 2020.
Mid- and small-cap indices have outperformed the frontline benchmarks - the S&P BSE Sensex (up around 10 per cent) and the Nifty50 (13 per cent) - in the first half of calendar year 2021 (H1-CY21) by rallying 26 per cent and 39 per cent, respectively. The trend, analysts believe, is likely to continue in H2-CY21 as well. The outperformance in H1-CY21 comes on the back of improved earnings and strong inflows from the foreign portfolio investors (FPIs) in Indian equities. However, good monsoon so far, gradual opening up of the economy and the pick-up in the pace of vaccination provides support to the market.
Most of the large Indian IT services players, such as TCS, Infosys, Wipro, and HCL Tech, have signalled increased offshoring efforts and opting for local hires in the US, primarily to address the immigration-related challenges.
The government will raise Rs 96,000 crore (Rs 960 billion) from the market in April-September 2008 by issuing securities to part-finance its expenditure in 2008-09, the Reserve Bank of India said on Monday. Of this, the government plans to mop up Rs 20,000 crore (Rs 200 billion) in April, RBI said. The centre will sell securities worth Rs 6,000 crore (Rs 60 billion) of 5-9-year gilts and Rs 4,000 crore (Rs 40 billion) of 20-year and above gilts between April 4 and 11.
India's IT and business services market is expected to grow 5.4 per cent annually to reach $13 billion by December this year, research firm IDC said. The segment grew 5.3 per cent year-on-year (y-o-y) in January-June (H1) 2020 period as compared to 8.9 per cent growth in H1 2019, IDC said in a report. Of the IT and business services market, the IT services market contributed 77.4 per cent in H1 2020, growing 5.9 per cent y-o-y as compared to 9.3 per cent growth in the year-ago period.
During the first half of the financial year 2021-22, the reported number of fraud cases in various banking operations increased to 4,071 as against 3,499 in the year-ago period, the RBI's Report on Trend and Progress of Banking in India 2020-21 showed. However, the amount involved in frauds in various banking operations based on the date of reporting declined to Rs 36,342 crore during April-September 2021 from Rs 64,261 crore in the corresponding period of the previous financial year, the report said on Tuesday. In H1 2021-22, banks saw 1,802 reported cases of frauds amounting to Rs 35,060 crore which were related to advances.
Slamming American immigration policies, Microsoft boss Bill Gates has said the US was shutting the door on the best and the brightest at a time when the country needed it the most.
Ashishkumar Chauhan says that the exchange is seeking a valuation of about $1 billion.
The government will borrow Rs 5.03 lakh crore in the second half of the current fiscal to fund the revenue gap for reviving the pandemic-hit economy, the finance ministry said on Monday. During the first half, the government has raised Rs 7.02 lakh crore by issuing bonds, the ministry said in a statement. "Out of gross market borrowing of Rs 12.05 lakh crore projected for FY 2021-22 in the Union Budget, Rs 7.24 lakh crore (60 per cent) was planned to be borrowed in first half (H1).
Indian start-ups and software product companies are trying to attract engineers and programmers who are either stranded in India because of the lockdown or H-1B visa holders who have been laid off.
India is poised to achieve the target of attracting $10 billion of foreign direct investment this year as inflows have nearly doubled to $4.4 billion in April-September 2006.
Life Insurance Corporation, the country's largest insurer, has consolidated its position by recording 178 per cent increase in premium collection during April-September this fiscal
Poonawalla said booster vaccines have no demand as there is general lethargy among people and also because they are fed up with the pandemic.
Wrapping up his four-day state visit to the US, Prime Minister Narendra Modi on Friday asserted that a new and proud journey of India-US ties has begun and the world is watching the two great democracies strengthening their bond.
Food delivery aggregator Swiggy's losses widened 2.24 times to Rs 3,628.9 crore during last financial year, as its expenses surged 227 per cent in a year. This is even as the decacorn's revenue jumped more than twofold to Rs 5,704.9 crore in FY22, according to details from company research platform Tofler. While the company's losses surged from a base of Rs 1,616.9 crore in FY21, its total expense in FY22 touched Rs 9,748.7 crore, from Rs 4,292.8 crore a year ago.
The nationwide swine flu toll climbed to 88 with a teenaged girl and two women dying due to the virus in Karnataka and Maharashtra while 177 fresh cases of infection were reported from various states.
Over 3,000 unauthorised masks have been seized from different medical stores in Daman during a drive to check their illegal sale in view of swine flu scare.
Italian super sports car maker Lamborghini is looking at a record year in India in terms of sales, riding on a V-shaped recovery in demand post Covid-related disruptions and positive sentiments in view of strong vaccination drive, according to a senior company official. The company, which sells a range of super luxury cars priced between Rs 3.15 crore and Rs 6.33 crore, is looking to beat its best-ever performance in the country recorded in 2019 when it sold a total of 52 units. It is already witnessing over 20 per cent growth in its business in 2021 as compared to 2019.
India has recorded 1,134 new coronavirus cases, while the active cases increased to 7,026, according to the Union health ministry data updated on Wednesday.
The State Department has proposed not to issue temporary business visas for H-1B speciality occupations which allowed several companies to send their technology professionals for a short stay to complete jobs on site in the US, a move which could affect hundreds of Indians. The proposal, if finalised, will eliminate any misconception that the "B-1 in lieu of H policy" provides an alternative avenue for foreign professionals to enter the US to perform skilled labour that allows, and potentially even encourages them and their employers to circumvent the restrictions and requirements relating to the H non-immigrant classification established by Congress to protect the US workers, the State Department said.
An aggressive rate hike by the US Fed and the possibility of a recession can trigger a slide in these stocks, which will be a good opportunity to buy from a long-term perspective.
