Trading sentiment in the equity markets this week will be guided by global cues, Covid-19 trends and quarterly earnings by market heavyweight TCS, analysts said. Investors will also monitor movement of rupee and crude oil as well as progress of monsoon, they added.
India Inc has weathered many a storm during Covid-19: from supply chain disruptions to demand dips, steep increase in input costs to shortage of key raw materials. As most companies navigated unprecedented challenges on multiple fronts, realisation dawned also about the criticality of employee welfare in the survival of the business. And it was the human resources (HR) department that faced the greatest test on this front.
India is world's third-largest smartphone market with over 100 million smartphones sold last year.
In a major push towards 'Make in India', Apple Inc is manufacturing 70 per cent of the mobile phones, in value terms, that it sells in the domestic market, in India, according to sources aware of the development. This is a sharp rise from the figure of 30 per cent just two years ago and marks a major shift in Apple's strategy following the government's Production Linked Incentive (PLI) scheme that kicked off in FY'21. One of Apple's three vendors here, Foxconn, is currently manufacturing the best-selling model, the Apple 11, along with the Apple 10 and the Apple 12. Another contract manufacturer, Wistron, makes the Apple SE 2020. (The third, Pegatron, has yet to start production). The only models that are imported (they have limited volumes but high value) are the Apple 12 Pro and Pro Max.
The banking sector in India is reeling under Rs 8 lakh crore of non performing assets (NPAs) or bad loans, of which PSU banks alone account for over Rs 6 lakh crore.
While welcoming Prime Minister Narendra Modi's announcement on Saturday to celebrate January 16 as National Start-up Day, six years after the Start-up India Action Plan was launched by the government, stakeholders in the ecosystem say that more needs to be done at the policy level to unleash the next phase of growth in the sector. "The Start-up India programme's launch in 2016 was a turning point - that is when the promoter came to be known as the founder in the country and the word 'entrepreneur' entered the common lexicon. "But now we need a Start-up India 2.0 now for the next phase of growth of the ecosystem", said Siddarth Pai, managing partner of venture capital (VC) firm 3one4 Capital. Pai says that Startup India 2.0 must look at promoting Startups headquartered in tier II,III & IV cities and solving the problems of Bharat.
The government has asked industry to provide a list of Chinese suppliers that would like to shift some capacity to India provided they are willing to set up JVs with Indian companies.
The biggest spender was Tata Motors, with Rs 4,224.6 crore assigned under the R&D head.
For the 50-share NSE Nifty, the close came in at 10,739.35, higher by 47.05 points, or 0.44 per cent
What drives Pakistani men to join its military, despite the toll it takes on them?
In March this year, Worldline India launched Vabox (Voice Alert Box): merchants will now get instant audio alerts on the settlement of UPI (Unified Payments Interface) payments via QR codes in languages of their choice when customers check out. "They needn't worry whether the amount has been credited to their account," says Gulshan Pruthi, the firm's executive vice-president. The French payments giant will roll out 500,000 Vaboxes in the initial phase.
For Indian CEOs, the US, China and the UK are important markets.
Engineering giant Larsen & Toubro (L&T) handed out a pay cheque of Rs 61.27 crore to its chief executive officer (CEO) and managing director (MD) SN Subrahmanyan in the last financial year (FY22), which is a near 115 per cent hike over FY21, as executive compensation at India Inc comes under sharp focus after two years of Covid-19. In fact, the total compensation of L&T's executive directors (including Subrahmanyan) in FY22 was 120 to 670 times the median remuneration of the company's employees, data from its FY22 annual report shows. This points to sharp hikes that the top management saw in their remuneration during the period, experts in human resources said. In FY21, L&T's executive compensation was 56 to 337 times the median remuneration of company employees.
It's Sanjeev Chadha, named Pepsi's chief executive for Asia, W Asia & Africa, versus Coca-Cola's Atul Singh.
The infra-major going belly up cracked open some major flaws in the system - the most evident being weak corporate governance and how layers of corporate structures could be formed adding to the opaqueness of the group.
Tharoor said the Congress should stand up for its foundational principles.
India's largest listed pharmaceutical (pharma) company - Sun Pharmaceutical Industries (Sun Pharma) - is expected to maintain its outperformance vis--vis the sector's, as its multiple bets on specialty products, improving product mix, recent acquisitions, and branded business are finding favour with brokerages. While it has gained 7 per cent over the past year, the Nifty Pharma Index is down 13.6 per cent. Its outperformance over two years has been fairly evident, with the market leader gaining 66 per cent to Nifty Pharma's minus 1.4 per cent.
Infosys was the top Sensex loser along with other index heavyweights ITC and HDFC.
'If they harp on it again, they will begin to lose votes.' 'They have not lost this time, but they will lose next time.' 'Your committed votes will never be enough to guarantee victory for you.'
It came as a surprise to all stakeholders - competing telecom companies (telcos), most analysts and even the government's internal projections on revenues from the 5G auctions. Reliance Jio disrupted all calculations by paying a stiff Rs 40,000 crore to buy 10 MHz of spectrum in the 700-MHz band, globally considered a key band for efficient 5G service coverage, along with the default 3.5 GHz band and the ultra-high speed and low-latency millimetre band of 26 GHz band. So what made Jio pay almost 45 per cent of its total spend in this auction for the 700 MHz band - much more than what it rustled up even for the 3.5 GHz band?
Top gainers from the Sensex pack are Infosys, Cipla, NTPC, ITC and Lupin
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Industry's demand for a reduction in the repo rate, currently 8 per cent, has gained momentum after wholesale and retail inflation eased in February.
Finance Minister Nirmala Sitharaman on Monday assured the industry that momentum of economic reforms will continue to make India a hotspot of global investment. India has turned the crisis created by COVID-19 pandemic into an opportunity to push the economic reforms, which remained pending for decades, she said while addressing the National MNC's Conference 2020 organised by industry chamber CII.
Its entry will increase competition especially when WhatsApp too has received approvals to launch payment service.
Macro economic environment in India is expected to improve further and drive the BSE index, Sensex, to 33,500 by December-end.
Pichai said a whole new generation of technologies are happening in India first, and that people in the country no longer have to wait for technology to come to them. Investments, he said, will focus on four areas key to India's digitisation, including enabling affordable access and information for every Indian in their own language, be it Hindi, Tamil, Punjabi or any other.
'The rate cut could have been higher in the current economic conditions which would have had a stronger impact on business sentiment and spurred investment in a big way.'
The ban in India would hit Chinese internet companies that were making headway in the world's fastest-growing mobile market.
Recently, Apple did two things differently. First, it entered video streaming sector with cheaper options and second it has opened up its OTT service for non-Apple users too.
Your promise to protect bankers for their commercial decisions is a huge confidence booster, but how does one define a commercial decision? Are our investigative agencies well equipped to dissect lending decisions of bankers?
The PNB fiasco falls into a family line that involves non-fund limits - read contingent liabilities which are off-books. Harshad Mehta did it with bankers' receipts in 1992. Ketan Parekh exploited the ignorance of bankers who did not know the difference between a cheque and a pay-order. And the RBI blinked when it failed to insist the SWIFT platform be linked to the core banking solution. Raghu Mohan & Abhijit Lele trace the banking mess that was just waiting to happen.
These have been selected based on the earnings growth prospects and favourable (buy) ratings by brokerages
The government gave clearance to five global and five Indian players that have made a commitment to a production value of 12.5-trillion phones in five years under the Production Linked Incentive scheme.
Demonetisation impact, earnings growth, central bank policies will get attention.
US major lost its first mover advantage, now wants to secure its investments in the country.
'India is likely to do better than other emerging markets.'
What stocks will gain from a normal monsoon?
Most top industrialists rate PM's first 100 days in office as 'good', primarily due to his intentions, not concrete policy measures.
Lashing out at the micro-blogging platform over non-compliance, Prasad said that it is "astounding" that Twitter that portrays itself as the flag bearer of free speech, chooses the path of deliberate defiance when it comes to the intermediary guidelines.
Higher rural incomes, pay commission benefits, and lower interest rates are key positives: Analysts
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