Chairman A M Naik said H2 of 2020-21 will herald better economic and business activity in terms of tendering, good liquidity, as well as revival of labour and supply chains.
To provide a 'data lake' solution, the markets regulator had issued a notice in May, inviting expression of interest (EoI) from interested parties. The selected company will be responsible for designing, implementing and supporting a big data solution with analytical capabilities.
Investors seem to be shying away from stocks of companies in the 'digital' space with most counters that comprise the Nifty India Digital index giving negative returns over the past year. The index tracks the performance of a portfolio of stocks that broadly represent the 'digital theme' within basic industries, such as software, e-commerce, IT-enabled services, industrial electronics, and telecom services. The fall in some of these stocks over the past year has been steep; the sharpest decline of around 60 per cent was seen in shares of PB Fintech (parent company of Policybazaar).
The domestic benchmark indices - the S&P BSE Sensex and the National Stock Exchange Nifty50 - had lost close to 1.5 per cent in three days recently before gaining slightly. Notwithstanding weakness and volatility, the Nifty50 has managed to hold on to the 18,000 mark, while the Sensex has managed to stay above the 61,000 level. The performance of the stocks that comprise these front-line indices remains polarised.
Sliding for the fourth straight day, the BSE Sensex shed 152 points in choppy trade on Wednesday amid mixed global cues ahead of the US Federal Reserve's policy decision.
Software giant Wipro's Azim Premji donated Rs 9,713 crore or Rs 27 crore a day to retain his top rank among Indian philanthropists in FY21. Premji, the founder chairman of the company, increased his donation by nearly a fourth during the pandemic year, as per the Edelgive Hurun India Philanthropy List 2021, which had HCL's Shiv Nadar at second place with contributions of Rs 1,263 crore towards upliftment causes. Mukesh Ambani of Reliance Industries, India's richest man, came third on the list with a Rs 577 crore contribution and was succeeded by Kumar Mangalam Birla with Rs 377 crore.
Equity benchmarks mustered gains for the first time this week on Thursday as investors piled into the recently-battered metal, bank and IT stocks amid expiry of monthly derivative contracts. Snapping its three-session losing streak, the 30-share BSE Sensex rallied 503.27 points or 0.94 per cent to settle at 54,252.53. On similar lines, the broader NSE Nifty gained 144.35 points or 0.90 per cent to end at 16,170.15.
With the July 1 deadline to apply for bank licence fast approaching, aspirants are scrambling to meet the Reserve Bank of India's (RBI) eligibility criteria to apply.
As with TCS, most companies put their money in mutual funds, corporate bonds and bank deposits, which are losing their appeal versus government bonds in terms of both returns and safety.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
The S&P BSE Sensex surged 160 points to close at 25,262.
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Tracking the strong momentum in the broader market, as many as 99 stocks touched their one-year high level on the BSE on Monday.
Mirroring the increase in the earnings of their companies, the chief executives and promoters of India's top listed firms gained handsomely from the boom last financial year. Their remuneration includes salaries, perquisites or perks, and profit-linked commissions.
The projects coming up in Bihar, Jharkhand and Odisha will together add 16,000 MW capacity to country's power generation.
This order is a part of the $5,941.93 million or Rs 35,000-crore (Rs 350-billion) project, which is to be implemented in 4 years.
The progress of the GST Bill in Parliament is also likely to remain in focus
After bumbling for years since 2014, the Modi government seems to believe that massive government expenditure will lead us to prosperity supported by 'seat-of-the-pants' decision-making, observes Debashis Basu.
Coast Guard DIG B K Loshali has been sacked following a Board of Inquiry over his comments that contradicted the government's stand on the sinking of a Pakistan fishing boat last year.
The list includes Hindustan Unilever, Asian Paints and Bharti Airtel - firms that investors feel are most likely to come up with the next big innovation.
Tata remains India's powerful brand with its value ring over $15 billion for the first time.
'With the ease of access, we have seen an increased participation from tier-2, tier-3, and tier-4 cities/towns.'
Very often, 'sentiment' drives prices well beyond what is warranted and it is hard to forecast market sentiment, explains Debashis Basu.
Four companies - Rajesh Exports, Hyundai Global Motors Company, Ola Electric Mobility and Reliance New Energy - are eligible for receiving benefits under the production-linked incentive (PLI) scheme for advanced chemistry cell battery storage, the heavy industries ministry said on Thursday. The allotment was made for a total of 50 GWh of battery capacity to the four successful bidders. These firms, the ministry said, will receive incentives under India's Rs 18,100 crore programme to boost local battery cell production.
The Tatas, L&T and Bharat Forge expressed interest in building pressure swing adsorption oxygen plants at hospital sites, while IOC and RIL are pitching in with both oxygen and cryogenic tankers needed for its transportation.
The Sensex resumed lower at 28,566.50 and dropped further to 28,183.32 before finishing at 28,227.39, showing a loss of 490.52 points or 1.71 per cent.
Yes Bank was the biggest gainer in the Sensex pack, rallying 11.48 per cent amid reports that private equity firms have showed interest in buying a major stake in the private sector lender.
The company will engage various NGOs for the construction of toilets as well as undertake awareness campaigns for better sanitation, it said adding that a total of around 100,000 households would be benefited by the sanitation initiative.
The first consortium includes Afcons Infrastructure, IRCON International and JMC Projects, while the second group of companies include NCC, Tata Projects and J. Kumar Infra Projects.
The Motera stadium in Ahmedabad dominated the headlines as it is set to become the world's largest cricket stadium.
Analysts caution against volatility and recommend buying stocks of companies that are on strong fundamental footing that have been beaten down badly in the recent carnage.
Indian names that figure on the list, but lower down the pecking order include Tatat (101). Airtel (rank: 252), Infosys (287), Life Insurance Corporation of India (292), State Bank of India (334), HCL (390), Indian Oil (427), Reliance (445) and Larsen & Toubro (464).
Engineering giant Larsen & Toubro (L&T) is looking to divest its exposure to road and power concessions and incubate digital and e-commerce businesses as part of its new five-year plan ending 2025-26 (FY26). The base year for the plan is 2020-21 (FY21). The blueprint, called Lakshya 2026, is intended to help the company exit sub-scale businesses, concentrate on high-technology (tech) manufacturing, construction and green energy projects, and increase its share from information technology (IT) and digital services. The lending operations of the financial services business, meanwhile, will be reorganised, with focus on retail lending.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
'His death is an irreparable loss to the nation'.
The broader NSE Nifty, on the other hand, ended 2.70 points, or 0.02 per cent, lower at 11,555.90 in its third straight day of losses.
L&T, Ircon International and Tata Projects have showed interest in a tender issued by the National High Speed Rail Corporation, implementing agency for the project. The tender is for construction of stations, bridges, viaducts, maintenance depots and tunnels.
After bumbling for years since 2014, the Modi government seems to believe that massive government expenditure will lead us to prosperity supported by 'seat-of-the-pants' decision-making, observes Debashis Basu.
L&T is pursuing a controlling stake of 66 per cent in the mid-tier IT firm, for Rs 10,700 crore.
The IAC would serve to bolster India's position in the Indian Ocean Region (IOR) and its quest for a blue water Navy
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