Why does the world's fastest-growing major consumer of energy fail to attract investments in oil and gas? This is a question worth pondering after private sector conglomerate Reliance Industries Ltd (RIL) failed to close a $15-billion downstream asset deal with Saudi Arabia's national oil company, Aramco. It's understandable if multi-billion dollar investments in oil and gas projects or deals involving state companies that need to traverse a complex bureaucracy at state and federal levels and the corridors of ministries unravel. However, Mukesh Ambani-run RIL, India's most successful energy company, is not typically known to fumble on closing deals (Ambani closed deals worth around Rs 2 trillion early last year in telecom and retail with blue chip investors).
Distribution yields could rise, but risk of Covid, higher interest rates remain.
Indian frontline benchmarks - the S&P BSE Sensex and the Nifty50 - have rallied around 12 per cent each since June-end and outperformed their global peers by a wide margin. On Thursday, the US Fed hiked interest rates by another 75 basis points (bps) - the third such hike this year - and surprised the markets by projecting further sizable hikes in the coming months. With the latest hike, the Fed fund rate (FFR) now stands in the range of 3 - 3.25 per cent and is highest since January 2008.
'To achieve a corpus of Rs 10 crores in the coming years, I would suggest you increase your SIP, advises Nikunj Saraf, vice president, Choice Wealth.
Move will be a setback for India which wants information on black money probe based on leaked data
Using ATMs beyond the permissible free transactions for cash as well as non-cash purposes will cost more from Saturday. As per the Reserve Bank directive issued in June, the banking customers would be required to pay Rs 21 per transaction with effect from January 1, 2022 for transactions beyond the free permissible limit. Presently, banks are allowed to charge Rs 20 for such transactions through ATMs.
So which sectors are likely to do well in 2022? Should you focus on domestic economy-related sectors or export-oriented ones?
Sixteen merchant banks are in the fray to act as book running lead managers (BRLM) for the initial public offering of Life Insurance Corporation of India (LIC). These merchant banks will have to make a presentation before the Department of Investment and Public Asset Management (DIPAM) on August 24-25. The shortlisted banks are BNP Paribas, Citigroup Global Markets India, BofA Securities, Goldman Sachs (India) Securities, HSBC Securities and Capital Markets(India), J.P. Morgan India, Nomura Financial Advisory and Securities (India), Axis Capital, DAM Capital Advisors, HDFC Bank, ICICI Securities, IIFL Securities, JM Financial, Kotak Mahindra Capital, SBI Capital Market, and Yes Securities India.
The new offer is part of its strategy to turn India to an exclusively 4G market.
India has pipped China to drive the volume growth of smartphones in the world on the back of falling prices of high-end devices.
At issue size of Rs 10,355 cr, the offering will be Asia's biggest this year and fifth-largest domestically.
After Indonesia and South Korea on Friday joined Thailand, Australia, Chinese Taipei and Algeria in pulling out due to the dreaded disease
Finance Minister P Chidambaram has been repeatedly stressing he will meet the fiscal deficit target of 4.8 per cent of the gross domestic product in this fiscal, but HSBC said the spending-revenue gap may overshoot to 5.1 per cent.
Economists caution that the underlying cause could be an alarming drop in demand -- something that's not good for economic growth.
It said Naisar Kothari, a resident of Bhavnagar in Gujarat, was arrested under sections of the Prevention of Money Laundering Act (PMLA) and he has been sent to the ED custody till December 22 by a court.
Will 2022 be a year of contrasting narratives -- one filled with caution and the other with continued optimism?
The 57-year-old Bhattacharya, front-runner for the post on account of years of service left, was managing director and chief financial officer of the bank prior to her elevation.
Let's take a look at countries that will see biggest jump in exports.
The recent weakness of the rupee has been due to yuan's devaluation.
...followed by financial services, IT, and sales and marketing.
The HSBC Manufacturing Purchasing Managers' Index fell to 51.3 in April from March's 52.1
Some of Modi's biggest reforms have met with fierce political opposition.
This is Chidambaram's third letter to Swiss Finance Minister Eveline Widmer Schlumpf within four months on this matter.
The recent currency volatility - rupee's depreciation against international currencies - may have given heartburns to automakers that rely on imports or pay royalty to parent companies abroad. But for Maruti Suzuki India, favourable movement of the yen - the currency that matters the most - against the Indian rupee, has given it reasons to cheer. The yen's sharp fall against the rupee and the rupee's depreciation against the US dollar, which in turn will bump up export realisations, are set to give a margin boost to the maker of Baleno and Brezza, said analysts. The softening of commodity prices and slew of new SUV launches in the coming months will also aid margins, they said.
Most sought-after market of the past few years doesn't feature among top bets in Asia, emerging markets
India on Monday got the backing of Switzerland in its bid to become a member of the Nuclear Suppliers Group.
Economic recovery in US, euro zone help; new orders sub-index at 52.4
The current global downturn has made India even more desirable to Non-Resident Indians who are bullish about the country's growth and continue to invest heavily in the country of their origin, a report said.
'When the rupee was at 65 a dollar, we wanted to go to Thailand for a holiday.' 'Now at 72, we may find Goa much more attractive.' 'That's how correction happens.' 'If you don't let that correction happen, then it's a pressure cooker that bursts one day.'
India's GDP growth quickened to 7.4 per cent in the September.
Consumption of gold is the highest among middle-income households - those with annual income between Rs 2 lakh and Rs 10 lakh - who account for an average of 56 per cent of gold sales over the last five years, according to a nationwide survey conducted by India Gold Policy Centre (IGPC) at the Indian Institute of Management, Ahmedabad (IIM-A). "Per capita consumption is highest among the rich, but total volume still rests with the middle-income group. "With increasing income, there is an increasing propensity to consume gold, although the share of gold in the portfolio does not increase with the same proportion of income," the survey report says.
India's Lakshya Sen secured his maiden Super 500 title by winning the Yonex-Sunrise India Open with a stunning straight-game victory over reigning world champion Loh Kean Yew of Singapore in the men's singles final in New Delhi on Sunday.
According to a survey of expatriates across four continents, conducted by global banking major HSBC, Singapore, the United States and the United Arab Emirates have emerged as the top three most popular destinations among expats.
Eight investment banks including HSBC and India's ICICI Securities and SBI Capital have submitted bids to manage a 10-per cent stake divestment in state-owned Coal India.
The services sector suffering due to slowing orders, says HSBC.
The latest PMI showed inflation pressures ebbed further last month with both costs of raw material and prices charged rising at a slower pace than March.
India's Tokyo Paralympics gold winner Pramod Bhagat was on Thursday named among six shuttlers for the Male Para Badminton Player of the Year by the sport's world body but none of his compatriots featured in the able-bodied awards' categories.
Low home loan rates by banks could put large players in an advantageous position over smaller non-bank players, believe analysts.
This is the third instance when outsourcing of key oversight jobs by global banks to India has come under the regulatory scanner abroad for ineffective controls against suspicious financial transactions.
As the shadow of governance deficit and corruption back home threatened to lengthen behind the glorious Davos sun, India's image managers launched a spirited damage control exercise on the penultimate day of the World Economic Forum (WEF).
