India's harsh lockdown has left companies grappling with temporary closure, chaotic supply chains and depressed demand. Consequently, business plans have been modified.
Many CEOs said they plan to give special leave to women employees so as to encourage their participation in the workforce.
JSW Steel is learnt to have submitted its resolution plan along with AION Capital
Billionaire Gautam Adani on Sunday won the race to acquire Swiss cement major Holcim's stake in Ambuja Cements and its subsidiary ACC for $10.5 bn (around Rs 81,361 crore), including the open offers. The Adani family, through an offshore special-purpose vehicle, announced that it had entered into definitive agreements for the acquisition of Holcim Ltd's entire stake in two of India's leading cement companies -- Ambuja Cements and ACC -- the Adani group said in a statement. The group outbid Ultratech and JSW group to enter the cement industry and also emerge as the country's second-largest cement manufacturer, with 70 million tonnes of capacity annually.
Corporate earnings grew in double digits during the April-June 2022 (Q1FY23) quarter but the momentum waned. Overall corporate earnings in the quarter were down sharply from their highs in FY22. The combined net profit of 2,981 listed companies across sectors in the Business Standard sample was up 22.4 per cent YoY to Rs 2.24 trillion in the June quarter, driven by a big jump in the earnings of banks, non-banking lenders, oil & producers, and FMCG companies. Also, earnings in the corresponding quarter a year ago were affected because of the second wave of the Covid pandemic, even though the numbers were a lot better than Q1FY21 when there was a nationwide lockdown.
Faced with one setback after another in expanding the scope of mining in the country, almost all the major miners of the world have wound down their operations in India.
Long-term investors should consider moving into smaller stocks. Rather than try to pick stocks, it makes sense to build a diversified portfolio by exposure across midcap and small caps funds, suggests Devangshu Datta.
S&P upgraded India's credit outlook to 'stable' from 'negative' earlier.
Next set of Q4 FY16 earnings, progress of monsoon along with election poll outcome will dictate market trend this week
Stocks and sectors impacted most by GST.
"The shift is gradually happening more on account of favourable risk-reward for stocks in these sectors and the shift would be more pronounced as investors roll over their targets to 2017," the head of research at a foreign brokerage said.
India Ratings expects long products demand growth to be sharp, supported by a demand push from the government-led infrastructure investments in affordable housing, railways, rural electrification and road networks.
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Since April 1, promoters of Jaiprakash Associates have released more than 225 million Jaiprakash Power Ventures shares (valued at Rs 425 crore) pledged with lenders.
The much-talked-about sale of Ambuja Cement and ACC by Holcim Group will see the single-biggest outflow of foreign capital from the country if the two cement firms are acquired by Indian investors. The deal, valued at nearly $10.35 billion, will put in the shade Cairn Energy Plc's exit from India in 2010, when it sold Cairn India to Vedanta Group for $4.48 billion. According to various reports, big business groups such as AV Birla, JSW Group, and Adani Group are in the fray to acquire Holcim's assets in India.
India's top listed companies reported their best-ever quarterly net profit of Rs 2.39 trillion in the September quarter of FY22, up 46.4 per cent year-on-year. The earnings were driven by a big surge in the profitability of banks, non-banking financial companies & insurance (BFSI), oil & gas, and metal & mining firms. The combined net profit of these three cyclical sectors were up 87 per cent YoY to a record high of Rs 1.53 trillion, up from Rs 82,000 crore a year ago and Rs 1.08 trillion in Q1FY22.
As infrastructure, power hardly deal in cash, its paucity has failed to affect their receivables
Select companies in infra, capital goods, private banks, auto, oil & gas, and mining could be considered by investors.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Duty cut on raw material imports are not likely.
As record stock market rally continues, the value of shares directly owned by next-generation business leaders at 20 major corporate houses has soared over 18 per cent to Rs 17,000 crore.
When the world was upended by the Covid-19 pandemic, metals got its shine back. In the last two years, infrastructure spending by major economies spurred demand, energy transition and intermittent supply disruptions fuelled a scorching rally in metals after a downturn during the first Covid wave. Now, Russia's war on Ukraine is ensuring that elevated prices stay the course.
Largest deal in thermal power space; Lanco to use proceeds to lower debt.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Once Bhushan Steel is into its fold, Tata Steel will increase its capacity from 12.7 million tonnes per annum (mtpa) to 18.3 mtpa
Major global indices like CAC 40, DAX Shanghai Composite, Hang Seng, Nikkei, Straits Times, Sensex, Nifty have lost 1% - 10% in a week
Booked between 2007 and 2011, out of the total 32,700 residential units under various Jaypee Infratech (JIL) projects, at least 20,000 homes are yet to be delivered. Supreme Court documents show that, till last March, Jaypee had issued 7,997 offers of possession to homebuyers while executing only 6,530 sub-lease deeds. These deeds offer homebuyers possession rights but, unlike registration, does not guarantee absolute ownership.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Indian firms raised the money via external commercial borrowings.
The good news for the group has come from the port business.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Vikas Krishan has no qualms admitting that he has been indisciplined and too reliant on luck in the past, problems that he claims to have fixed ahead of the Tokyo Games.
Rebound in IT majors TCS and Infosys in late trades helped markets end higher.
Large and small businesses alike have delivered low-key performances.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
At 11:37 am, the S&P BSE Sensex was up 28 points at 27,037 and the Nifty50 was up 2 points at 8,268
Some of the top indebted companies likely to face financial headwinds in the coming quarters include NTPC, PowerGrid, Tata Steel, Adani Power, JSW Steel, UPL, and Steel Authority of India. Together these 201 companies owed Rs 14.9 trillion to their lenders at the end of September 30, 2019, up 4.1 per cent year-on-year (YoY) during the first half of FY20.
'Kindly advise about the following stocks. Can I hold or exit?'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
After 3 weeks of consecutive rally, this week was a breather for the index, which corrected by almost 1.5%.
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