Kotak Mahindra Bank's loan and deposit growth are likely to be affected after the Reserve Bank of India (RBI) asked the private-sector lender not to take on board new customers through the bank's online and mobile banking channels and not to issue any new credit cards, according to analysts. The bank's share price fell 10.85 per cent on Thursday to close the day at Rs 1,643 on the BSE. The RBI's action came after market hours on Wednesday.
This period of strong growth not only offers opportunities but also calls for strategic considerations to ensure sustainable development and equitable prosperity in the years to come, suggests Sujan Hajra.
In our series on How Young Indians earn, spend and save, we present the story of a mill worker's son who has struggled his way up and dreams of becoming a nuclear scientist one day.
Understanding tax residency rules and maintaining proper documentation is imperative to ensure smooth tax compliance.
The chemicals sector's recovery could be delayed until FY25 if the current trends of weak demand and flat pricing continue. Following a subdued September quarter, the revenue and profit performance of listed chemicals companies are anticipated to fall short of initial expectations of an improvement. Despite some price stability, the demand trajectory remains uncertain.
The hospitality industry has seen plenty of interest since the catastrophic impact of the pandemic, which led to losses in FY21. The hotel industry market cap has more than tripled since 2019 on the combination of a strong earnings rebound and positive surprises, as well as three recent listings. The industry has good tailwinds. The anticipation is, demand for rooms will outrun supply for a few years despite capacity expansions.
In our series on How Young Indians earn, spend and save, we present the story of a farmer's son who left his village as a teenager and led a difficult life because he wanted to stand on his own feet.
DK finished as an IPL winner with close to 5000 runs over 17 seasons besides taking 145 catches and effecting 37 stumpings.
'Hopefully, the South Africa series has woken up the Australian media to the realities of what it's like to operate Test cricket, and unless the boards change the economic model, I don't think Test cricket will thrive outside of the Big Three.'
Investors should view the increase in the LTCG tax rate in conjunction with the increase in capital gains exemption from Rs 1 lakh to Rs 1.25 lakh, which will provide some relief.
This is a good opportunity for long-term investors to pick quality small and midcap stocks at reasonable valuations.
'This is the victory of the people of Gujarat who want real development, not the hype of development.'
Neeraj exhibited the basics of throwing a javelin to former Indian cricketer Dinesh Karthik on JioCinema's 'Get Set Gold'
To share your Father's Day story (Father's Day will be celebrated on Sunday, June 16), just mail us at getahead@rediff.co.in (subject: Father's Day) along with your name, the place where you live, your father's name and picture and your message about him.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
You don't prep for 2028 but for 2040, or even 2044. Sustained sporting excellence is based on mass support, grassroots development, and funding - and it is this trifecta India needs to work on, systematically, asserts Prem Panicker.
Siemens delivered a strong margin performance and also reported high other income to beat consensus in the January-March quarter (Q2) of FY24 (the company's year-end is September 30). In addition, it has opted to demerge the energy vertical with a 1:1 award of shares in the newly demerged entity which will be listed by the end of this year (CY25).
Many promoters still consider the cash in the company as their money and are averse to sharing this pie with minority investors, points out Akash Prakash.
Which entrepreneur would willingly part with her or his hard-earned money for grasping, self-serving politicians? asks Debashis Basu.
Petrol and diesel prices were cut by Rs 2 per litre each as state-owned oil companies ended a nearly two-year-long hiatus in rate revision, just hours before the general election schedule was announced.
'My God, we could win half the world over just by our food alone.'
NMDC, the country's largest iron-ore miner, posted a consolidated revenue in the January-March quarter of FY24. This was in line with estimates at Rs 6,500 crore, which was up 11 per cent year-on-year (Y-o-Y), and a 20 per cent quarter-on-quarter (Q-o-Q) rise on the back of realisations. Iron-ore production was 13.3 million tonnes (down 6 per cent and up 8 per cent Q-o-Q), while the sales stood at 12.5 MT (up 1 per cent Y-o-Y and up 10 per cent Q-o-Q).
With the reality of coalition politics staring the BJP in its face, this was inevitable, points out Ramesh Menon.
Dinesh Karthik is all set to make his last IPL appearance in the 2024 edition.
The National Pension System (NPS) added 21.5 per cent fewer fresh subscribers under the corporate segment in 2023 compared to the preceding year. Government officials and experts attribute it to the higher exemption limit of income tax of Rs 7 lakh announced in the FY24 Budget that no more requires employees under this income bracket to opt for NPS for tax-saving purposes. Data collated from the Ministry of Statistics and Programme Implementation (MoSPI) reveals that the corporate component is voluntary in nature and saw 158,212 new subscribers in 2023 compared to 201,517 during 2022.
'Without a poverty line, how are we to know whether poverty is the same, or it has come down or it has gone up?'
Defence exports grew 33 per cent in the calendar year 2023 (CY23) to around Rs 21,083 crore while domestic defence orders serviced by listed companies were Rs 48,000 crore. The sector is poised for steady growth. Budgeted domestic capex is likely to hit Rs 3 trillion per annum, and exports could reach $6 billion by FY29.
With six airports handed over to the Adani group for 50 years, the government is now all set to hand over another 25 airports to private players in a bid to 'monetise' them. Official figures reveal that since 2017-18, the government has spent and will be spending Rs 14,500 crore on significantly revamping infrastructure at most of these airports before handing them over to private players. The Airports Authority of India (AAI), which operates these airports for the government, has spent billions of rupees in building new terminal buildings, runways, reinforcing taxiways, upgrading aircraft landing systems, radars and a host of other heavy duty and capital intensive infrastructure works.
'Earnings will be the catalyst for markets to march higher from here on out.'
Who do you think should be part of India's playing for the World Cup match against Pakistan?
Market players say following the tax cuts, the market mood had changed from bearish to positive, which should help sustain the rally.
'Who is the IPL's best bowler? His name is Jasprit Bumrah. He gets Rs 12 crore and Starc almost 25. That's wrong.'
Dabur India has been the worst performer in the fast-moving consumer goods (FMCG) space this year (CY23), posting a 1 per cent decline even as its peer index, the Nifty FMCG, has delivered returns of over 29 per cent in this period.
As spending on infrastructure has three times the desired impact, the government's Rs 111 trillion National Infrastructure Pipeline should be accelerated: Assocham president, Vineet Aggarwal
rediffGURU Dev Ashish answers your personal finance and mutual fund queries
IT service company Wipro on Friday reported 7.8 per cent year-on-year decline in its consolidated net profit for the March quarter to about Rs 2834.6 crore, and cautioned that the macroeconomic environment remains "uncertain". The Bengaluru-headquartered company, which recently saw a change of guard with Srinivas Pallia taking over at the helm as the new chief executive officer, has given an IT Services revenue growth guidance in the (-)1.5 per cent to +0.5 per cent band for June quarter on a constant currency basis.
Indians spend a higher percentage of their earnings on food consumption, compared with other countries globally, Ramachandra N Galla, chairman of Amara Raja Group, said.
rediffGURU Krishna Kumar, founder and CEO of GoMoTech, offers expert advice on how to scale up in your career and life.
'From a risk-return perspective, large-cap funds may generate lower-than-historical average returns in 2024, whereas mid-, and small-cap funds hardly have any upside left.'
'.. if you do not want to take the asset allocation call.'' 'This category of funds can offer optimum risk-adjusted returns.'
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