An industry survey has showed that economic growth for the current fiscal may slip to 4.8 per cent from 5 per cent estimated earlier.
Slowing growth and execution challenges for Cognizant (CTSH) may well allow Infosys to overtake the former after a decade. Cognizant had marched ahead of Infosys in terms of revenue in the first quarter of financial year 2012-13. The Nasdaq-listed IT services firm's performance in Q3 and the guidance for Q4 and full-year 2022 suggest that it could take time for Cognizant to see the expected improvement in performance from its decision to restructure.
Poor earnings show in the September quarter (Q2FY24), with hints of likely weakness in asset quality going ahead, forced analysts to cut earnings estimates of SBI Cards and Payment Services (SBI Card). On the bourses, shares of the State bank of India arm tumbled 7.4 per cent to Rs 732 apiece on the BSE in the intraday trade as investors factord in near-term concerns. Analysts at Motilal Oswal Financial Services, for instance, slashed SBI Card earnings by 8 per cent and 10 per cent for FY24 and FY25, respectively, as they expect the company to face pesistent magin pressure.
'Earlier-than-expected tapering from the US, followed by rate hikes, and locally, a potential third wave, which mimics the second wave in terms of severity.'
Bringing in the untapped informal sector into the formal one will benefit business.
'Instead of doing reforms and restructuring, the present government is busy with the perception that everything is fine and the economy is hunky-dory.' 'Such hollow perceptions are very dangerous for the Indian economy in the long run.' 'The real risk to India is the lack of decent employment opportunities for youth in general and educated youth in particular.'
oreign Policy magazine named him as one of the world's top 100 global thinkers in 2011.
Weaker-than-expected growth in US jobs in recent months had already forced US central bankers to put off a rate hike at their meeting last week
A group of current and retired faculty members at the Indian Institute of Management-Bangalore (IIM-B) has asked leaders of corporate India to "de-fund" the spread of misinformation and hate speech through news channels and social media.
Studies suggest net benefits of hydro-power, nuclear energy or natural gas as sources of electricity are greater than those of wind and solar.
The government on Tuesday announced Rs 900-crore allocation in the Budget for the newly set up Ministry of Cooperation for the 2022-23 fiscal, besides slashing Alternate Minimum Tax (AMT) on cooperative societies to 15 per cent and surcharge to 7 per cent, which nodal minister Amit Shah hailed saying it will boost the sector. Of the total allocation for the next fiscal, a significant amount of Rs 350 crore has been provided for digitisation of Primary Agriculture Cooperative Societies (PACs), while Rs 274 crore for an umbrella scheme 'Prosperity through Cooperatives' which would have a number of sub-components with the aim of all-round development of cooperatives in the country. For the first time, a separate budget of Rs 11 crore has been provided to Vaikunth Mehta National Institute of Cooperative Management (VAMNICON).
What's different this time is that global financial stress -- which has its genesis in four policy choices made in recent years -- is juxtaposed with a more resilient real economy, observes Sajjid Z Chinoy, chief India economist at J P Morgan.
Top losers in the Sensex pack included IndusInd Bank, Yes Bank, SBI, L&T, Tata Steel, M&M, Bajaj Finance, Vedanta, Tata Motors and RIL, tumbling up to 6.97 per cent.
Portfolio returns, say analysts at Morgan Stanley, are more likely to be driven by bottom-up stock-picking rather than top-down macro forces.
'It will be best for investors to have a systematic investment plan in mid-cap and small-cap funds with a three-/five-year horizon.'
Investors are sceptical that the economy could have picked up so much steam.
"We work with other countries to develop their capabilities and support their efforts to make free sovereign choices. More broadly, we aim to advance peace and stability in the region," he asserted.
World's 300 largest metropolitan economies account for nearly half of global economic output.
Sales expansion also down 4.4%
India's services sector activities touched the highest mark since April 2011 amid ongoing improvements in demand conditions, even as cost pressures in the service economy remained stubbornly high, a monthly survey said on Tuesday. The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from 58.9 in May to 59.2 in June -- its highest mark since April 2011. For the eleventh straight month, the services sector witnessed an expansion in output. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction.
Chetan Ghate, Pami Dua and Ravindra Dholakia have been appointed for 4 years
This analysis is based on the quarterly earnings for 724 companies.
Poor quality of education is one of the most important reasons for high unemployment in India, says Kavita Nigam.
A way out of the economic slump is to revisit the template of 15 years ago and follow its constituents, recommends Ajay Shah.
ICICI Bank was the top gainer in the Sensex pack, surging 4.64 per cent, followed by Axis Bank at 3.86 per cent and SBI 2.53 per cent.
'Similar to the case of the digital payment system where the government created a public platform and others joined in, we are exploring a similar structure to create a PPP platform where the compute required for AI could be accessed by the small player.'
The automobile sector is considered a good indicator of economic health. It has a very long value chain, from primary materials, like metals, glass and plastic, to value-added high-end electronic components, specialised alloys, and software.
However, the Indian economy is expected to bounce back in 2021, the World Bank said.
Ratings agency Moody's on Tuesday affirmed India's sovereign rating and upgraded the country's outlook to 'stable' from 'negative', citing receding downside risks to the economy and financial system.
'So you have welfare programmes, you reach out to the poor, you cut out the middlemen, you cut out the leakages and you try to raise the standard of living.'
'India seems to be on a relatively better wicket compared to other emerging markets.'
The challenge is to enhance opportunities for people to generate livelihoods through entrepreneurship, both big and small, argues R Jagannathan.
The Union cabinet on Wednesday approved the roll-out of the 'PM POSHAN in Schools' scheme that will provide hot cooked meal to students of elementary classes in government and government-aided schools across the country.
Let's wait for the monetary policy on February 8 -- to see how it complements the fiscal commitments, points out Tamal Bandyopadhyay.
Some say the MPC will raise the rate, while others are of the view that there is already de facto interest rate tightening through rising bond yields, which might prompt the central bank to go for a pause.
It is evident that the younger generation is increasingly choosing to postpone or completely forego the idea of getting married, observes Sybil Shiddell, country manager India, Gleeden, a discreet extra marital dating Web site.
India's military spending of USD 76.6 billion ranked third highest in the world.
He said the aim has been to create firewalls to deal with the cyber attacks and that the issue is being addressed in a "serious way".
The sanctioned individuals and their immediate family members are prohibited from entering the mainland, Hong Kong and Macao of China. They and companies and institutions associated with them are also restricted from doing business with China, according to the statement by the Chinese foreign ministry.
Ultra-long term equity investments have been a lot more rewarding than debt, a study published by Credit Suisse Research Institute in collaboration with London Business School shows. "Over the last 121 years, global equities have provided an annualised real return (in dollar terms) of 5.3 per cent versus 2.1 per cent for bonds," shows the study, which has looked at returns for 23 countries since 1900. In the Indian context, equity returns are even more favourable. Since 1953, equities have generated annualised returns of 6.5 per cent and government bonds only 0.4 per cent.
