Dhoni endorses 42 brands to Bachchan's 41 and SRK's 34.
After four years of high double-digit growth in profits, corporate earnings of Indian companies hit a speed bump in the April-June quarter of 2024 (Q1FY25), leading to the risk of a downward revision in India Inc profit estimates for FY25 and volatility in the equity market. Earnings growth slowed despite companies in most non-financial sectors reporting higher operating margins from lower commodity prices and a decline in interest costs.
Private equity (PE) activity in India between January and November 2024 recorded a total value of $30.89 billion across 1,022 deals, a 22.7 per cent increase in value and an 18.4 per cent rise in deal count compared to $25.17 billion across 863 deals during the same period in 2023. Notable large deals during the period include Walton Street India Investment Advisors at $1.5 billion, and KiranaKart Technologies at $1.35 billion.
While Paytm (One97 Communications) is not completely past regulatory hurdles, its share price has gained in the last month or two. The Paytm handle migration is complete along with FDI clearance necessary for the Payment Aggregator (PA) license. UPI consumer data indicates stable market share, and expansion in partner networks in financial distribution. All this implies Paytm could be set to meet guidance of turning Adjusted Ebitda breakeven by Q4FY25 (ex of UPI-incentives).
Reuters reported earlier this week that the Competition Commission of India (CCI) has sent a warning notice to the companies expressing concern that the merged entity will effectively have a monopoly on cricket broadcast rights worth billions of dollars, allowing it to squeeze advertisers.
The ongoing agitation by income-tax officials has affected search and seizure operations of the department.
Another trend: A preference for coloured diamonds among brides, who are pairing them with their groom's birthstone. So, along with yellow or white diamonds, they are choosing pink, green, blue sapphires, emeralds or red rubies.
As Nasdaq-listed company indicates poor spending in financial services space, Indian firms feel jittery
Former Mumbai Narcotics Control Bureau (NCB) chief Sameer Wankhede appeared before the Central Bureau of Investigation (CBI) in Mumbai for the second day on Sunday in a case in which he is accused of demanding Rs 25 crore bribe from superstar Shah Rukh Khan for not implicating his son Aryan in the Cordelia cruise 'drug bust' case, an official said.
He said assessees' "comfort zones" have to be significantly enhanced, even as deliberate evaders and offenders are punished.
India topped the APAC region with 227 transactions in the first eight months of CY24. The US was second with 133 deals while China ranked third with 69 transactions.
A Singapore court on Thursday granted a four-month moratorium to Indian cryptocurrency exchange WazirX, a period which the embattled firm will use to restructure its business without worrying about legal proceedings. A moratorium offers applicant temporary relief from legal proceedings. WazirX, India's biggest crypto exchange, suffered a major hacking attack in July this year losing close to $230 million.
Recovering from an order dry-up and change in market conditions, Gurgaon-based Rites is looking to bid aggressively in global export and consultancy tenders and run with a volume-led approach, its chairman and managing director (CMD) Rahul Mithal said. Rites is a railway consultancy public sector undertaking (PSU) under the aegis of the Ministry of Railways. "We started the year with two huge challenges - the export order book, where no new orders had happened, and the opening up of Indian Railways quality assurance works to four players.
Finance Minister Arun Jaitley is keen to introduce a fair tax regime.
Despite a healthy March-May quarter (Q3FY22) show by global IT consulting firm Accenture, Indian IT companies shed up to 3 per cent on the National Stock Exchange (NSE) on Friday as analysts continued to highlight medium-term pain points for the sector. The Nifty IT index settled 0.9 per cent lower on Friday, as against a 0.9 per cent rise in the Nifty50 index. According to analysts at ICICI Securities, Accenture's Q3 saw moderation in year-on-year growth rate across verticals and US regions, which signals at likely normalisation in revenue momentum for Indian IT services going forward.
'Building a whole product with the railways was challenging; we had to figure out how to load and unload a train when it stops for only about five minutes at a station.' 'We also helped them understand the revenues this would generate for them.'
After a strong show during the September quarter (Q2FY25) and favourable demand conditions, going ahead, the country's largest player in the room air conditioner segment, Voltas is well placed to improve its market share. Expectations of record volumes in FY25 for the sector and the company's strategy of prioritising market share over margins could help the leader expand share in the room AC segment.
The Supreme Court on Thursday extended Mishra's tenure till the midnight of September 15 in larger "public and national interest", after the Centre asserted that his continuity is necessary in view of the ongoing FATF peer review and attempts by India's neighbours to ensure that the country gets into the "grey" list.
The United Kingdom extracted USD 64.82 trillion from India over a century of colonialism between 1765 and 1900 and USD 33.8 trillion of this went to the richest 10 per cent -- enough money to carpet London in notes of 50 British pound almost four times over.
After three years of strong growth, top 20 IT companies in India, a majority of them engaged in IT services exports, recorded a revenue growth of 24 per cent in 2007-08, recording a sharp drop from 41 per cent in the previous financial year, according to a survey.
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.
At a time when the market is betting on a 'higher for longer' global interest rate view, Accenture's (ACN) weak revenue forecast is a negative read-through for the Indian IT firms, according to analysts. The Dublin-based company sees its revenue growth at 2-5 per cent in constant currency (cc) for the financial year 2024 (FY24), below the pre-Covid levels of 5-8 per cent for FY17-20. The weak projection, thus, signals that slower demand is likely to persist this year, and any recovery is unlikely in the near-to-medium term, experts note.
According to MAIT, the apex body representing India's IT hardware industry, training and R&D services sectors, tablet sales in 2012-13 stood at 1.9 million units as against 0.36 million units in 2011-12 witnessing a growth of 427 per cent.
The GST collection in April touched the highest ever level of about Rs 1.68 lakh crore, up 20 per cent from the year-ago period, on improved compliance and recovery in business activity, the Finance Ministry said on Sunday. During the month, 1.06 crore GST returns from GSTR-3B were filed, of which 97 lakh pertained to March 2022. The gross GST revenue collected in April is Rs 1,67,540 crore, of which CGST is Rs 33,159 crore, SGST Rs 41,793 crore, IGST Rs 81,939 crore (including Rs 36,705 crore collected on import of goods) and cess Rs 10,649 crore (including Rs 857 crore collected on import of goods), the ministry said.
For the first time in history, the luxury car market is poised to cross the sales mark of 50,000 units in 2024, with Mercedes leading the way
The Budget should use the extra RBI surplus to better effect, suggests A K Bhattacharya.
As Odisha and West Bengal are bracing for a severe cyclonic storm, governments of both states started evacuating people and while deciding to close educational institutions in vulnerable areas.
The department, which is racing to meet the budgeted target of Rs 4.30 lakh crore tax collection in this fiscal, has been ordered by the Central Board of Direct Taxes (CBDT) to immediately rejig the officials at Additional and Joint Commissioners rank level to revenue collection duties and concerned ranges.
The impact of Trump's announcement of increasing import tariffs will have negligible benefit for India not because of companies trying to shift from China to other countries or their supply chains being affected due to their Chinese operations but because of our faulty policies, explains Mudit Jain.
With the last quarter of 2023-24 (FY24) expected to have been soft owing to lower discretionary spend and macro uncertainty, many are hoping FY25 will be a year of recovery for the information-technology (IT) industry. The fourth quarter, January-March, is considered soft, and will continue to see the headwinds the sector has been facing. And the sector has entered the new financial year on a weak footing. Analysts are expecting Tier-I firms to report sequential growth of -1 per cent to 1.5 per cent and midcap players' growth may range between 0.7 per cent and 4 per cent.
Though a weak dollar will lend some support to revenues and margins in FY21, the demand environment will outweigh any gain.
Senior bureaucrat Tarun Bajaj was appointed revenue secretary as part of a top-level bureaucratic reshuffle by the Centre on Tuesday.
A senior Indian Revenue Service officer, Anup Ranjan Rai, has been dismissed from service after his plea against his conviction for amassing wealth disproportionate to his known sources of income was rejected by the Supreme Court
Adding petrol and diesel to GST was a challenging task due to their significant role as revenue generators for both the central and state governments.
Perhaps because the Modi government had some differences of opinion with two of the economist governors (one of whom was appointed by the Manmohan Singh government), there is a view that its political leadership prefers a civil servant to head the RBI, notes A K Bhattacharya.
There are reports that the government will soon cut income taxes by about Rs 50,000 crore to boost consumption.
Prime Minister Modi, I suggest that, instead, you distribute about one lakh crore rupees per year to the 80 crore poor, which will boost both consumption and economic growth, suggests Kalyan Singhal, McCurdy Professor of Business at the University of Baltimore.
The finance minister continues to be backed by the same policy team in charting out the broad strategy as in the few earlier Budgets.
The Central Bureau of Investigation has arrested four income tax officials, including the Kanpur-based Director of Investigations, along with a leading builder to whom the tax officials were suspected to be extending undue favours.
The Income Tax officials, having a tenure of three years, will function from the Indian Missions in Washington DC (the US), London (the UK), Berlin (Germany), Paris (France), The Hague (Netherlands), Abu Dhabi (the UAE), Cyprus (Nicosia) and Japan (Tokyo).
