India must first improve working condition, then it can concentrate on Make in India concept.
Whether India can create labour-intensive factory jobs instead that it needs to put millions to work in the next few years looks very unlikely.
Telecom companies that bought spectrum in the 2G auction of November last year would lose around Rs 4,000 crore
May touch 64/$ due to foreign flows slowing down
The government cleared the proposal despite opposition from the petroleum ministry, which says this is not the right time for divestment as the sector is moving from trade parity to export parity pricing.
It will take over large non-performing assets of banks and help in revive companies ridden with bad debts.
Analysts mostly prefer domestic plays beside select films with foreign exposure.
Refining major optimistic on planned investment of $16 bn for expansion and new technology to post healthy margins
'Given the past record, no one will be prosecuted, especially since the beneficiaries comprise the most powerful people in the country. They will pay a fine and be let off.'
Markets closed the day in green on favourable domestic factors,
Top Union ministers on Saturday joined a gala event, which had a smattering of Bollywood actors, including megastar Amitabh Bachchan, aimed at publicising the "achievements" of the Narendra Modi government on completion of two years in office.
India and the United States settled a dispute on Thursday that had paralysed the World Trade Organization and risked derailing a $1 trillion package of reforms.
The fuel reforms are a very important signal of the government's commitment to tough economic reforms.
Earning numbers of blue-chips, including ITC and SBI, due tomorrow.
Was Adani able to clinch this loan merely as a result of his proximity to Prime Minister Narendra Modi?
RIL has faced protests from local authorities, activists and residents across India campaigning against masts and roadworks.
The real benefits can be seen when prices stabilise, preferably at levels acceptable to both consumers and producers.
The broader markets, however, outperformed their larger peers.
The Sensex ended below 28,000 for the second straight day at 27,869.
FY16 GDP growth was seen at 7.5%, against 8.1-8.5% earlier.
Benchmark indices failed to sustain gains and retreated from day's high dragged primarily by the losses in metals, information technology and bank shares as investors started to book profits in late noon deals. Earlier, markets had scaled fresh all-time highs on the surprise post-budget rate cut by Reserve Bank of India (RBI). The 30-share Sensex ended down 213 points at 29,380 and the 50-share Nifty closed down 74 points at 8,922. Intra-day, Sensex reached the all-time high mark of 30,024.74 while Nifty touched the life-time high level of 9,119.20. In the broader market, both the BSE Midcap index and Smallcap indices, down 1% and 1.2% each underperformed the front-liners. Market breadth in BSE ended negative with 1,882 declines against 1,010 advances. A day after signing an agreement with Finance Ministry on inflation targeting, RBI surprised the markets with an early post-budget repo rate cut of 25 bps (basis points) to 7.5% from 7.75% which was again outside of central bank's scheduled policy review meetings as the earlier rate cut effected on January 15. "RBI's latest rate cut of 25 basis points, while a surprise in its timing is in-line with our expectations of a sharp rate-cutting cycle over the coming quarters. With inflation sustainably lower by 500bps, the RBI has in recent months acknowledged the scope for rate cuts and was only waiting for additional comfort that the government's fiscal policy would not play spoil-sport," said Dinesh Thakkar, chairman and managing director at Angel Broking in a note. Analysts at Karvy believe that further monetary policy action will depend on number of factors including easing of supply constraints, improved availability of power, land, minerals and infrastructure, fiscal consolidation, the pass through of rate cuts by banks and the expected monsoon. Citing weakness in some sectors of the economy and the overall global trend towards monetary easing as rationale for the rate cut the central bank also exuded confidence in the road map for fiscal consolidation as laid out in the Union Budget, 2015. Commenting on how the markets reacted to RBI's surprise move, K Subramanyam assistant vice-president (institutional research), Asit C. Mehta Securities said, "The unexpected cut did take the market by surprise .However, credit off-take is not dependant only on interest rates. A gradual revival in the economy would be of more help which would trigger credit off-take. Hopefully this will follow and RBI's action would prove helpful. From market point of view this is bullish as equity becomes more attractive vis-a-vis falling interest rates." On the macro-economic front, the HSBC services PMI rose to an eight-month high of 53.9 in February up from 52.4 in January indicating strong expansion in output across the sector. Respondents cited robust growth of new business as the principle factor for the increase in activity. Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 773 crore on Tuesday, as per provisional data. Buzzing Stocks 9 out of the 12 sectoral indices of BSE ended in red. BSE Metal index, down 2.4% was the top loser followed by BSE Oil & Gas and Power indices, down 1.3% each. BSE Healthcare index, up 1.2% and BSE FMCG index, up 0.9% were the top losers. Bank stocks came under during late noon trades as traders booked profits at higher levels. However, RBI rate cut may encourage large lenders to cut their lending rates boosting demand for home and auto loans and provide funds for various stalled and new projects. Many stalled projects across the country are waiting for cash to restart work. The stock of stalled projects at the end of December 2014 stood at Rs 8.8 lakh crore or 7% of GDP. ICICI Bank ended down 0.1%, Axis Bank and SBI declined over 3% and HDFC Bank shed 1.5%. Sun Pharma gained over 6% on approval granted to Sun Pharma Advanced Research Company (SPARC) by US FDA for an antiepileptic drug. The product will be manufactured by Sun Pharmaceutical Industries at its Halol (Gujarat) facility in India. SPARC was formed in 2007 when Sun Pharma separated out its active projects in drug discovery and innovation into a new company. Dr Reddys Lab and Cipla have gained over 1% each. ITC gained over 1% after consecutive sessions of losses on the proposed larger-than-expected hike in excise duty on cigarettes in the Union Budget. The biggest ever auction of spectrum by the Department of Telecommunications (DoT) started on Wednesday in the morning where government expects to garner Rs 80,000-1lakh crore from the sale of spectrum. Idea Cellular gained over 2%, Reliance Communication gained around 1% and Bharti Airtel closed 0.5% higher. Metal stocks were under pressure in today's session. Hindalco declined over 3%, Sesa Sterliteended down over 4% and Tata Steel closed down 2%. Profit-taking in IT stocks led to Wipro losing around 1.8%, Infosys declining 0.7% and TCS losing 1.5%.
Sensex eneded 374 points higher on rate cut expectation from the RBI.
Faced with sluggish economic growth and dwindling exports, China on Wednesday devalued its currency for the second consecutive day.
While some companies, such as HSBC, have closed retail operations, big players such as India Infoline is scaling down.
The 30-share Sensex ended down 30.30 points at 28,161.72 and the 50-share Nifty dipped 7.95 points at 8,543.
RBI's surprise rate cut has revived sentiments of India Inc.
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The market regulator is wielding an unprecedented level of control over how mutual funds operate, delaying new launches and dictating investment strategy, frustrated insiders in the embattled industry say.
'If you ask me what is God, I'd say, God is Mr World.'
The blockchain, the public ledger that tracks every bitcoin transaction, is changing commerce as we know it, says Devangshu Datta.
A financial turnaround with the Etihad partnership and debt restructuring has not fully materialised.
Concluding the three-part series, Paranjoy Guha Thakurta says that the black money law is likely to fail because of the ineptness of India's investigative and enforcement agencies.
Cashi Crisis: Day 9: Aaj ki Taaza Khabar!
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