Various parts of Surat were flooded after incessant rainfall in the region. Over 100 mm of rain has blocked roads and led to waterlogging in several low-lying areas.
Tata Motors on Friday reported a 62.2 per cent decline in consolidated net profit to Rs 4,003 crore in the June quarter, impacted by volume decline across segments, drop in JLR profits due to US tariffs and high base effect due to gain from sale of discontinued operations. The auto major had posted a consolidated net profit of Rs 10,587 crore in the April-June quarter of the previous fiscal, Tata Motors Ltd (TML) said in a regulatory filing.
Around 74 per cent rural households expect their incomes to increase in the next one year, according to a bimonthly survey conducted by the National Bank for Agriculture and Rural Development (Nabard) in May 2025. The percentage recorded was 72 in March.
Wholesale price inflation (WPI) declined to a 14-month low of 0.39 per cent in May on easing prices of food articles and fuel, and experts said geopolitical tensions could push up prices.
Former Jharkhand Chief Minister Shibu Soren, a towering figure in the state's tribal movement, was cremated with full state honors in his native village of Nemra. Thousands gathered to pay their respects to the 'Dishom Guru,' including political leaders and villagers.
Stock investors will track the ongoing conflict between Iran and Israel, Brent crude oil prices, inflation data and the US Fed interest rate decision for further cues this week, analysts said. Tariff-related news would also dictate trends in the equity market, experts noted.
RBI's interest rate decision, macroeconomic data announcements and global trends are the key factors that would dictate the momentum in the equity market this week, analysts said.
Movement in the equity market this week will be guided by a host of macroeconomic data announcements, global trends and trading activity of foreign investors, analysts said. Stocks markets concluded the last week on a subdued note, as investors grappled with global uncertainties.
The Maharashtra legislative assembly passed the 'Maharashtra Special Public Security Bill' aimed at preventing unlawful activities of Left Wing Extremist organizations, focusing on urban Naxalism and passive militancy.
Delayed by 10 days due to cyclone Biparjoy, southwest monsoon is likely to progress further and hit Mumbai between June 23 and 25, the India meteorological department said on Wednesday.
Reserve Bank Governor Shaktikanta Das on Thursday said the fundamental drivers of the Indian economy are gaining momentum and the country is moving on a sustainable growth path. In the inaugural address at FIBAC 2024, the governor said that massive changes are taking shape in various economic sectors and markets, and the country is geared for orbital shifts.
Southwest monsoon, the key to the agriculture driven trillion-dollar Indian economy, on Tuesday brought showers to Kerala bringing much-needed relief to farmers.
The onset of the southwest monsoon is being keenly watched this year as it may provide an early sign regarding its progress over the Indian subcontinent, particularly when El Nio is expected to rear its head during the latter half of the season.
The combined market valuation of the top-ten most valued firms jumped by a whopping Rs 3,84,004.73 crore in the holiday-shortened last week, in-tandem with a smart rally in equities, with HDFC Bank and Bharti Airtel emerging as the biggest gainers. Last week, the BSE benchmark Sensex jumped 3,395.94 points or 4.51 per cent, and the NSE Nifty surged 1,023.1 points or 4.48 per cent.
Conditions were becoming favourable for further advance of the southwest monsoon over some more parts of the south peninsula and east India and adjoining areas between June 18 and 21.
Scientists had earlier said the cyclone pulled the moisture and convection, impacting the intensity of the monsoon and delaying its onset over Kerala.
The slow progress of the south-west monsoon has led to overall deficiency of rains by 22 per cent over the last fortnight, the meteorological department on Wednesday said.
The southwest monsoon has started on a weak note and this has delayed the sowing of kharif crops. Though a cause for concern, the situation hasn't reached a stage where it warrants any panic response. Moreover, according to meteorologists and industry players, monsoon rains will witness a revival in the coming few weeks.
Mumbai will have to wait for a few more days for monsoon showers.
Domestic macroeconomic data announcements, global trends and trading activity of foreign investors would guide market sentiments this week, analysts said. After a record rally, markets may face volatile trends this week amid elevated valuations and investors would also keep a track of global oil benchmark Brent crude and rupee-dollar movement for further cues. "Potential volatility in the stock market is anticipated this week. Elevated valuations remain a concern, with investors now focusing on monsoon progress and its impact on the rural economy.
'If the US stagnates and falls into a recession, the dollar will weaken, oil prices will also dip. This augurs well for India.'
Cyclone 'Biparjoy', the first storm brewing in the Arabian Sea this year, has rapidly intensified into a severe cyclonic storm, with meteorologists predicting a 'mild' monsoon onset over Kerala and 'weak' progress beyond southern peninsular under its influence.
With concern on food inflation ebbing with the monsoon progressing well, the Reserve Bank of India (RBI) is warming up to the idea of a change in stance to "neutral" from "withdrawal of accommodation", according to economists. In his speech on Thursday during the annual event of the Federation of Indian Chambers of Commerce and Industry-Indian Banks' Association, RBI Governor Shaktikanta Das said: "The balance between inflation and growth is well-poised."
Vidarbha won their third Ranji Trophy title after the final against Kerala finished in a draw in Nagpur on Sunday.
Senior IMD scientist R K Jenamani said the monsoon covered south and central Arabian Sea, entire Kerala, parts of Karnataka and Tamil Nadu between May 31 and June 7.
Against the Reserve Bank of India's (RBI's) projection of 7.1 per cent, India's first quarter (Q1) 2024-25 (FY25) gross domestic product (GDP) growth came in at 6.7 per cent. This is in line with market expectations and significantly lower than the 7.8 per cent recorded in the fourth quarter (Q4) 2023-24 (FY24) and 8.2 per cent in Q1FY24. The quarter witnessed decreased government consumption and investment spending due to the parliamentary election.
Heavy rain in the first week of July compensated for the shortfall but caused flooding in many northeastern states.
The gig economy market is expected to grow at a compound annual growth rate (CAGR) of 17 per cent to reach a gross volume of $455 billion by the end of 2024, according to a white paper by The Forum for Progressive Gig Workers. Estimates suggest the gig economy has the potential to create 90 million jobs and add 1.25 per cent to India's GDP (gross domestic product) over time.
June rainfall accounts for 15 percent of the total precipitation of 87 cm recorded during the four-month monsoon season in the country.
Reserve Bank on Thursday retained the growth and inflation projection at 7.2 per cent and 4.5 per cent respectively for the current fiscal amid expectations of a normal monsoon. In its last bi-monthly monetary policy review in June, RBI had projected real GDP growth and retail inflation at the same.
After missing its deadline, the monsoon is likely to hit the national capital and parts of north India by the end of the week, a private forecasting agency said on Monday.
The government on Thursday listed bills on personal data protection, to amend forest conservation laws and on the contentious ordinance on Delhi services for the monsoon session of Parliament beginning next week.
Delhi is likely to receive the first monsoon showers on June 30 or July 1, India Meteorological Department (IMD) officials said on Tuesday.
According to Skymet Weather, the initial surge in the Monsoon rains can be attributed to the transition of El Nino into the neutral phase.
The rains after arriving over Kerala will quickly cover Tamil Nadu and Karnataka, but then might slacken a bit, which could delay its arrival over Northwest India.
IMD Director General M Mohapatra said there is cyclonic circulation along the Karnataka coast which is hindering the progress of the southwest monsoon.
The FMCG industry hopes for a revival in consumption growth in 2025 with some 'green shoots' already visible, after having a challenging year amid escalating input costs and a double-digit rise in food inflation, which ultimately slowed down the pace of the urban market growth in the second half of 2024. Soaring prices of commodities such as palm oil, coffee, cocoa and wheat forced FMCG players to go for a hike of 3 to 5 per cent or resort to shrinkflation by reducing pack sizes and grammage to retain attractive price points, fearing a volume loss.
The weather department said its latest model analysis had indicated that the moist easterly winds in the lower level from the Bay of Bengal would spread to northwest India, covering Punjab and Haryana by July 10, leading to the advancement of monsoon and an increase in rainfall activity over the region, including Delhi, from July 10 onwards.
The southwest monsoon is likely to arrive over Kerala on May 31, a day earlier than its normal onset date, the India Meteorological Department (IMD) said.
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