The move if implemented, will be a temporary measure to protect both consumers and airlines. A section of airline executives and experts, however, warned that any intervention in pricing would be counterproductive.
'Considering that an Internet company's market value is largely determined by its direct access to consumers for digital services, and largely served outside a sovereign country's control, it would appear reasonable in trade terms to discuss fees for a seat at the proverbial 'table' of opportunities in the largest open consumer market,' argues Venki Nishtala.
Stronger rupee likely to take a toll; Infosys results on April 13 to be keenly watched
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.
With India's imports exceeding exports, weak rupee does more harm than good. Analysts, however, say that rupee depriciation is positive for export-oriented sectors such as IT services, pharmaceuticals, textiles and automobiles
100-day agenda: Commerce ministry pushes for separate logistics department
10 stocks which are most popular with brokerages right now and are expected to deliver maximum upside over the next 12 months.
The Madras high court has ordered the winding up of private carrier SpiceJet Limited and directed the official Liquidator attached to the high court to take over its assets, in a plea filed by a Swiss company over unpaid dues. The court was allowing a company petition from Credit Suisse AG, a stock corporation registered under the laws of Switzerland, which prayed for winding up of the Indian firm under the provisions of the Companies Act, 1956 and appoint the Official Liquidator of the high court as the liquidator with all powers under Section 448 of the Companies Act to take charge of SpiceJet's assets, properties, stock in trade and books of accounts. The "respondent company (SpiceJet) has miserably failed to satisfy the three pronged test suggested by the Supreme Court in Mathusudan Govardhandas & Co v Madhu Woollen Industries (P) Ltd, and hence had rendered itself liable to be wound up for its inability to pay its debts under Section 433 (e) of the Companies Act 1956," Justice R Subramanian said in his order on Monday and directed the private carrier be wound up and the official liquidator take over its assets.
Apart from easing the NPA pressure on domestic banks, the RBI's move can allow companies to raise cheap, long-term loans easily now.
'Through a translator, I was able to speak with several of the detainees from India who are seeking asylum.' 'I was saddened to hear the detainees tell us that they are being confined in their cells for up to 22 to 23 hours a day.' 52 Indian are among the 121 asylum-seekers held in an Oregon prison. Rediff.com Senior Contributor Pottayil Rajendran reports from New York on the case that is making headlines in America, India, indeed around the world.
The FPI holding in India's top 100 companies, which are part of the Nifty 100 index, declined to 24.23 per cent on average at the end of March this year, from a high of 27.5 per cent at the end of March 2021. This is the lowest FPI holdings in India's top listed companies in at least three years. A general sell-off by FPIs has weighed on stock prices and the benchmark S&P BSE Sensex is down 8.5 per cent, from its 52-week high made in October 2021. Most analysts expect FPI flows to remain weak in FY23 as well, given rising bond yields in the US and an expected earnings slowdown in India due to high inflation and commodity prices.
Fitch Solutions on Thursday said the new climate targets announced at the COP26 summit by Prime minister Narendra Modi pose an upside risk to its outlook for renewable growth in the country. With the new targets, it expected to see attempts to alleviate the issues regarding supply chains, manufacturing and project development that have long plagued renewable proliferation.
'In the last five years of UP government, the UP police were given a fair environment and the rule of law always remained supreme.' 'In these five years, nobody within BJP dared tell a police officer to act against the rule of law.'
For any airline to be eligible for restructuring, the current ratio has to be equal to or higher than 0.4, while 'debt to Ebitda' has to be equal to or less than 5.5.
'India is a high-cost market but that is man-made. The government can change that with a stroke of the pen.'
Banks and friendly neighbourhood jewellers can serve as good channels to provide liquidity for gold deposits with built-in incentives for them, suggests Harsh Roongta.
With no payments coming in, HAL for the first time ever taken a bank loan of Rs 7.81 billion.
''We have a very difficult period ahead of us.' 'Fortunately we have a popular government and a popular leader who is ideally placed to take us into confidence,' says Aakar Patel.
India perhaps is the only market in the world where full-service and low-cost fares have become one.
In the last five years of NDA rule, 2018-2019 was the worst for exporters.
Indian Railways is in talks with Reliance Jio Infocomm to allow the Mukesh Ambani-led telecom major's use of its towers. The aim is seamless mobile and internet connectivity for passengers along the 67,368-km of tracks. The Railway Board has entrusted its RailTel Corporation arm to work on the modalities with Jio. The Jio tie-up is expected to bring down its telecom bill by at least 35 per cent from this financial year.
'The answer for a quicker boost to growth is simple -- run a much larger deficit, use the resulting public resources to ensure adequate price support for agriculture, subsidise wage costs of MSMEs and accelerate public sector construction-intensive activities,' advises Nitin Desai.
Ajit Balakrishnan offers a thinking man's guide to the state of ecom in a nation of shopkeepers.
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
GST will now apply to mutual funds, loan instalments and credit card dues.
'India enjoys the maneuverability of a coming big power.' 'It is this possibility that has persuaded Moscow to humour India and stayed Washington from getting punitive about India's neutrality on the Ukraine issue.'
Mr Prabhu has a big challenge ahead in implementing trade reforms to regain the lost export momentum, says Jayanta Roy.
Physical security for women, the first step towards getting them into factories and offices, is all but absent in most Indian cities, notes Kanika Datta.
'The voter thinks that the State is not going to impartially deliver services, provide justice, basic law and order, social insurance -- so as a voter it's very rational that I may choose a criminal who will help me navigate the State.' 'A weak State allows a criminal politician to be the person who provides that guarantee to mediate whatever problem the citizen has with the State.'
The API of Paracetamol, a fever and pain medication, has grown 25 per cent from Rs 450-480 per kg in December 2020 to Rs 580-600 per kg in April. When compared to the pre-Covid prices of December 2019, the surge is much steeper -- around 140 per cent, reports Sohini Das.
Boeing is pressing hard to win the Indian Navy contract for 57 aircraft carrier-borne fighters. It could offer the Super Hornet in the ongoing IAF procurement of 114 medium fighters; its upgraded F-15EX fighter also on the list.
Shine Jacob & Karan Choudhury highlight the red flags raised by the Controller General of Accounts.
The Supreme Court on Friday stayed criminal proceedings against former chairman of Wipro, Azim Premji, and his wife on their plea seeking quashing of the summons issued by a Bengaluru trial court on a "frivolous"and "mischievous" complaint filed by an NGO alleging breach of trust and corruption in merger of three firms with a Premji group firm. A bench of Justices Sanjya Kishan Kaul, Dinesh Maheshwari and Hrishikesh Roy also issued notice to an NGO, Indian Awake for Transparency and others and sought their response. Senior advocates Mukul Rohatgi, A M Singhvi appearing for Premji and others said that the complaint was "mischievous" in nature.
Sanjeev Nayar offers some ideas on how Indians can help in improving the lives of those living in border areas and in the process help the Indian Army.
"The country wide vaccination exercise is being exponentially expanded to include those above 60 years of age and those above 45 years with co-morbidities, from March 1.
The losses ranged between Rs 33,204 and Rs 10,90,480.
Most of the scanty 6.35% rise in the defence budget is accounted for by manpower and running expenses.
Where Ms Chawla seems to have erred is that she has not been able to build the desired credibility required to champion the cause she took to court.
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