The sharp correction in the Indian markets from their peak levels has made valuations attractive, say analysts, who advise buying selectively, but only from a long-term perspective. Fifty-six of the Nifty 100 stocks, according to Mahesh Nandurkar, managing director at Jefferies, now trade below the 10-year historical averages, including stocks in financial, select auto, and pharma sectors. "Valuation (one-year forward consensus price-to-earnings, PE) has declined 25 per cent from October 2021 peak, almost matching the 33 per cent price-earnings contraction during the 2011 tightening cycle when repo rates went up by 375 basis points (bps) versus 250 bps this cycle.
The Prayagraj airport in India is experiencing a surge in air traffic due to the Maha Kumbh, a major religious festival. The airport is handling an average of 40 non-scheduled charters and private jets daily, with figures reaching 70 on weekends. This is in addition to the average 148 scheduled commercial passenger aircraft operating daily. The airport recently received a contingent of about 180 politicians from Rajasthan and has seen corporate bigwigs like the Ambani brothers, Gautam Adani, and Pawan Munjal pass through. The airport has also hosted four international flights since the beginning of the Maha Kumbh, including a flight carrying Laurene Powell Jobs, the wife of Apple co-founder Steve Jobs. The airport is currently undergoing an upgrade and expansion, and officials are looking forward to the government's plans to integrate Prayagraj with the airports at Kashi and Ayodhya to promote tourism in the region.
Uttar Pradesh Chief Minister Yogi Adityanath, known for his hardline Hindutva views and 'bulldozer justice' approach, has spoken out about his policies toward Muslims, the Waqf board, and his vision for India. He asserts that Muslims will receive a fair share of development in Uttar Pradesh, but not special concessions. He also criticizes the Waqf board for its alleged appropriation of government properties and calls for its reform. Adityanath defends his 'bulldozer justice' policy, claiming it is necessary for infrastructure development and removal of encroachments. He also discusses his vision for India, emphasizing the importance of Hindi as a national language and the need for unity across different linguistic groups.
All parts except Northeast may get below-normal rain; govt reiterates assurance on preparations.
Retail investors have been the hardest hit in the recent market downturn, with stocks where they hold over 20% falling 45% from their 52-week highs.
Anirudha Srikkanth heaped praise on talisman batter Virat Kohli's captaincy and said that he was the reason why India could win Tests outside home soil.
India has recorded the second-highest increase in domestic airfares in the Asia-Pacific (APAC) and West Asian regions, climbing by 43 per cent in the first half of 2024 compared to pre-pandemic levels in 2019, second only to Vietnam (63 per cent). India ranks third in fare increases during the same period in international skies, behind the United Arab Emirates (UAE) and Malaysia. The airfare study conducted by Airports Council International (ACI), which represents 617 airports in this region, was done in partnership with Flare Aviation Consulting.
'Eat well, rest well; keep improving; and go play, unplug.'
Expected to be over 100% of long average period.
Climate scientists warn that climate change is intensifying heatwaves in India, with the cooling effects of La Nia potentially becoming less effective in a warmer future. The India Meteorological Department (IMD) predicts an early summer with above-normal temperatures and intense heatwave spells, following an unusually dry winter and the warmest February since 1901. Experts emphasize the role of human-caused climate change, along with natural climate drivers like El Nio and La Nia, in shaping weather patterns. While La Nia typically brings cooler temperatures, scientists suggest that under climate change, its ability to mitigate heatwaves may be diminished.
Don't let panic ruin your wealth. Avoiding these mistakes can save you from HUGE losses, says Ramalingam Kalirajan
Smith has rarely, if ever, doubted his own talent but even he was aware that his spell at the top of the order was proving unpopular.
The Supreme Court of India has directed all high courts, state governments, and union territories to ensure the availability of separate toilet facilities for men, women, persons with disabilities (PwDs), and transgender persons in all court premises and tribunals across the country. The court stressed the importance of public health and the right to privacy, stating that adequate public toilets protect women and transgender persons. The court also expressed concern about the condition of public toilets near toll plazas on national highways and emphasized the need for proper sanitation facilities in court premises for judges, advocates, litigants, and staff members. This decision highlights the importance of access to basic amenities in ensuring a fair and dignified justice system.
'...whether he is a top player or not, it doesn't matter.' 'If I go by a player's name I won't be able to bowl at my best.' 'For me he is just a batter, and my only focus is where I need to land the ball.'
Driven by a boom in domestic tourism, a record number of weddings in November and December, and a surge in extended weekend vacations.
The southwest monsoon is set to make its exit in style, bringing rains to the parched parts of Uttar Pradesh and Bihar, as weather forecasters have picked up signs of formation of a cyclonic circulation over Bay of Bengal. Addressing a press conference in New Delhi, India Meteorological Department (IMD) director general Mrutyunjay Mohapatra on Thursday junked last week's forecast of early withdrawal of southwest monsoon and announced the extended stay of the seasonal showers. "Even though we expected early withdrawal of the southwest monsoon, a cyclonic circulation over west-central and adjoining northwest Bay of Bengal will shift the monsoon trough southwards around September 7.
It has also predicted a below normal monsoon for the season with a Long Period Average of 93 per cent, subject to the error margin of 5 per cent.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
Australia's senior batter Steve Smith said the last three years have been the most challenging because of Kookaburra changing their ball in 2020.
'Market corrections are a natural part of investing, so it's essential to remain focused on long-term financial goals.'
Monsoon normally starts withdrawing beginning September 1 from west Rajasthan.
Australia's chief selector George Bailey has cautioned against repeating the mistakes made in the aftermath of leg-spinner Shane Warne's retirement when long-standing opener David Warner finally calls time on his Test career.
The India Meteorological Department said on Tuesday monsoon rains are expected to be below normal at 95 per cent of the long period average, with margin for error of plus or minus 4 per cent.
Ask rediffGURU and PF and MF expert Janak Patel your mutual fund and personal finance-related questions.
With different agencies showing divergent predictions regarding the southwest monsoon, the central government and states are gearing up to face adversity with various line ministries reportedly being directed to undertake mock drills and hold preparatory meetings. Around 56 per cent of the net cultivable area of the country is rain-fed, accounting for 44 per cent of foodgrain production. The June-September rains contribute around 73 per cent of the annual precipitation.
Premier pacer Jasprit Bumrah was on Friday named vice-captain of India for the upcoming three-match home Test series against New Zealand, strongly indicating his possible elevation to the leadership role when the team travels to Australia from next month.
The weather department attributed the unusual heat to the lack of rainfall due to the absence of active western disturbances over north India and any major system over south India.
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Prithviraj does his best to look sincere and real in Memories which is otherwise an average story.
'To be able to sail through such volatilities, it is prudent to focus on quality.'
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Brace for some warmth this winter as the India Meteorological Department (IMD) in its December-February forecast on Thursday said that the minimum and maximum temperatures could remain 'normal' to 'above normal' over most parts of Northwest and Northeast India. Both the minimum and maximum will remain below normal in Southern Peninsular and Central India in these winter months. While this could give some respite from the intense cold of North India, it could have a negative impact on the standing rabi crops if the temperature rise is unusual and abnormal.
A BEST electric bus, traveling at a speed of 46 kmph, collided with a crowd in Kurla, Mumbai, killing seven people and injuring 42 others. The driver, Sanjay More, has been arrested for reckless driving. The accident has raised concerns about speed limits and training for drivers of automatic transmission buses.
Gross GST collection grew 9 per cent to over Rs 1.87 lakh crore in October on higher revenues from domestic transactions. The Central GST collection stood at Rs 33,821 crore, State GST at Rs 41,864 crore, Integrated IGST at Rs 99,111 crore and cess at Rs 12,550 crore.
The forecast for better rains this seasons comes after India witnessed one of the worst droughts in recent times when the monsoon had failed last year.
Deane De Menezes hopes to reduce the awkwardness and stigma around menstruation.
Passive funds tracking the National Stock Exchange Nifty Next 50 Index have seen their assets under management (AUM) more than double in the past year. The index's growing popularity can be attributed to its robust 50 per cent return over the same period. Currently, the AUM of funds tracking the Nifty Next 50 index stands at nearly Rs 30,000 crore.
The future of some senior India players will be decided after the tour of Australia as the BCCI evaluates the shocking 0-3 drubbing against New Zealand at home while rolling out a structured phaseout policy before the start of the next WTC cycle.
According to the meteorological analysis of the southwest monsoon between June one and August 24, the country, on the whole, had received one per cent less rainfall than the long period average. Of the 36 meteorological sub-divisions five, including Marathwada, continue to receive deficit monsoon rains.
Given IMD's past record on forecasts, the latest one could also go wrong.
The India Meteorological Department (IMD), for the first time, officially hinted at a drought-like situation, saying the southwest monsoon over India in 2012 is likely to be deficient at below 90 per cent of the Long Period Average (LPA).
