From the Sensex pack, Power Grid, Infosys, Asian Paints, Mahindra & Mahindra, HCL Technologies, IndusInd Bank, Tech Mahindra, Bajaj Finance, Wipro, Tata Consultancy Services, HDFC Bank and Titan were the major gainers. Tata Steel and Bharti Airtel were the laggards.
Sugar prices are hovering near six-year highs, leaving a bad taste in Indian consumers' palates but sweetening the portfolios of investors in related stocks at Dalal Street. Shares of sugar manufacturers such as Piccadily Agro, DCM Shriram, Magadh Sugar, and Bajaj Hindustan have rallied up to a whopping 200 per cent so far in the financial year 2024 (FY24) as deficient monsoon rains in major sugarcane producer states like Maharashtra and Karnataka are expected to lead to a shortfall in sugar output ahead. In comparison, the BSE Sensex has modestly gained 11 per cent during this period.
vThe longest duration cyclone over the north Indian Ocean had developed over the Bay of Bengal and weakened over the Arabian Sea between November 8-23, 1977 with a life period of 14 days and six hours.
The capital started receiving rain since 4 am and the downpour intensified as the day progressed, Dr H R Hatwar from the Indian Meterological Department said.
Congress MP Rahul Gandhi will embark on a fresh padayatra (foot march) from Gujarat to Meghalaya and during that period leaders and workers of the party's Maharashtra unit would criss-cross the state, Maharashtra Pradesh Congress Committee president Nana Patole said on Tuesday.
'The moment the Army approved the script, they told us that they will give their full support and asked us for our full dedication.'
The state has suffered losses of Rs 4,000 crore and the figure is likely to go up as estimates continue to pour in, he said.
Good monsoon is likely to create more jobs in the agriculture sector, which in turn could save the exchequer around Rs 10,000 crore
Improved monsoon, solid fiscal performance, and capex push by the public and private sectors augurs well for India's macroeconomic stability and growth, the finance ministry's monthly economic review for June 2023 said. But the report said that while India's domestic fundamentals remain strong, negative cross-border spillovers and adverse global developments could act as a deterrent in achieving the high growth path this financial year. "An improved matching of aggregate supply and aggregate demand in the Indian economy underpins the progress made in the control of domestic inflation and the consequent strengthening of macroeconomic stability," the review said.
The RBI's projection for WPI inflation for this fiscal is 5.5 per cent.
The rains have so far been four per cent below normal.
Because the ecology of various regions differs, it is silly to club them all under one countrywide average number, says Nitin Sethi.
Anita Aikara/Rediff.com shares pics from her travel to the Andaman Islands.
Domestic passenger vehicle dispatches witnessed a 13 per cent year-on-year rise in April as demand remained robust across segments, industry body Siam said on Friday. The total passenger vehicle dispatches from companies to dealers rose to 331,278 units last month compared to 293,303 units in April 2022. Market leader Maruti Suzuki India dispatched 137,320 units to dealers last month against 121,995 units in April last year.
Wide-eyed and curious, Angira is the cutest girl you'd see all day.
'The monsoon has stabilised over Kerala. It is no longer temporary,' Dr S K Subramanian of the Indian Meteorological Department said.
'The Bills (Bharatiya Saksha, Bharatiya Nagarik Sanhita and Bharatiya Nyaya Sanhita) are arbitrary, opaque and ambiguous and structurally quite violent.'
The last few years have been uncharacteristically good for the Indian sugar sector for a variety of reasons. While on the one hand, the weather supported good crop production; on the other hand, the programme to blend ethanol with petrol took off in a big way. The long-pending problem of burgeoning sugarcane arrears almost came down to nil and exports boomed to record highs.
Indian economy grew 7.9 per cent in the March quarter.
"The agenda as published at the moment, is much ado about nothing - all this could have waited till Winter session in November. I am sure the legislative grenades are being kept up their sleeves to be unleashed at the last moment as usual. Parde ke peeche kuch aur hai!" he said.
"It happens that there is a break in the rainfall pattern," says BP Yadav, who crunches the relevant numbers at the Indian Meteorological Department in New Delhi.
Noting that the session is taking place just ahead of the 70th Independence Day, Modi said he was confident that discussions of the highest standard will be held.
The official India Meteorological Department (IMD) and the private Skymet Weather Services have made widely divergent monsoon forecasts.
Asserting that his government's decision to ban instant triple talaq has boosted the overall sense of security for Muslim women, Prime Minister Narendra Modi has asked Bharatiya Janata Party leaders to reach out to them during the upcoming festival of Raksha Bandhan.
The Indian markets have seen a good run in the last three months with the S&P BSE Sensex rising around 7 per cent and the Nifty50 moving up 7.5 per cent. The next leg of the market rally from here on, analysts suggest, will be driven by a growth in corporate earnings over the next few quarters. That said, they do not expect material / sharp downgrades to India Inc's earnings estimates despite headwinds for the economy.
Shinde, participating in a discussion on the no-confidence motion in the Lok Sabha, took a jibe at the opposition coalition Indian National Develomental Inclusive Alliance (INDIA) describing it as a 'destructive alliance' and said the next elections will be fought on the issue of scams of the United Progressive Alliance and schemes of the National Democratic Alliance.
Not just agriculture, monsoons are important for the hydro-electric power generation too, which in turn reduces the consumption of diesel and other forms of fuel.
Rain for the central and northwestern parts a concern.
The limited availability of flexible (flex)-fuel vehicles in the Indian market and the slow rollout of ethanol-blended petrol by oil-marketing companies (OMCs) remain major obstacles to achieving widespread use of biofuels in the transportation sector in India. Recently, two Union ministers have emphasised India's biofuel potential, arguing that it has the capacity and potential to lead a transition towards widespread biofuel adoption. Road Transport Minister Nitin Gadkari signalled that this transition is well underway and urged car manufacturers to quickly adapt and introduce new biofuel-run vehicles, lest the government resort to taxing diesel vehicles.
Passage of the long-pending Goods and Services Tax bill and a unanimous resolution on Kashmir were the highlights of the "highly productive" Monsoon session of Parliament which was adjourned sine die on Friday after 20 sittings.
'We suggest an equity strategy of 5% to 10% exposure to cash, 5% to Gold ETF, close to 50% to Sensex/Nifty/large mid-cap stocks.'
The prices of oilseed, coarse cereals & vegetables could also be affected.
The transmission of dengue is closely associated with three key factors -- rainfall, humidity and temperature -- that dictate the geographies in which it spreads and the transmission rate of the viral infection caused by the dengue virus (DENV), and transmitted to humans through the bite of infected mosquitoes.
Describing the northeastern region as a "piece of one's heart", Prime Minister Narendra Modi on Thursday said there will be no let-up in efforts to restore peace in Manipur, which will soon walk the path of progress once again.
Akshay Kumar and Urmila Matondkar expressed shock over a May 4 video of two women being paraded naked in strife-hit Manipur and demanded punishment for the perpetrators of the 'horrifying' incident.
The Reserve Bank on Wednesday projected retail inflation to ease to 5.3 per cent in next fiscal from 6.5 per cent this year on assumptions of lower imported inflation, even though core inflation remains sticky. The RBI's inflation outlook for current fiscal has improved from 6.8 per cent projected earlier, to 6.5 per cent, on the back of steeper than expected decline in vegetable prices and Indian basket of crude at $95 a barrel. "Looking ahead, while inflation is expected to moderate in 2023-24, it is likely to rule above the 4 per cent target.
Ramesh stressed that the prime minister should participate in the debate on Manipur.
'The larger intention is to create a political State where there is no opposition.'
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