India's second-largest software services company Infosys on Wednesday posted 12 per cent year-on-year rise in consolidated net profit at Rs 5,686 crore for March quarter 2021-22. The Bengaluru-based company had registered a net profit (after minority interest) of Rs 5,076 crore in the corresponding period previous year, according to a regulatory filing. Infosys' revenue grew 22.7 per cent to Rs 32,276 crore in the quarter from Rs 26,311 crore in the year-ago period, it added.
Outflows are likely to continue, experts say, till such time as the markets see a significant correction.
International Monetary Fund Chief Economist Gita Gopinath tells Indivjal Dhasmana high-frequency indicators for the third quarter of 2021 indicate momentum in economic recovery in India.
Franklin Templeton Asset Management (India) on Monday said the Securities Appellate Tribunal (SAT) has stayed Sebi's order, whereby the regulator had barred the asset management firm from launching any new debt scheme for two years. In addition, the regulator had asked Franklin Templeton to refund investment management and advisory fees to the tune of Rs 512 crore, including interest, collected with respect to its six debt schemes which are now shut. "With reference to the order issued by Whole Time Member(WTM) of Sebi on June 7, 2021, Franklin Templeton Asset Management (India) Pvt Ltd filed an appeal and an application for stay before the Hon'ble SAT. "After hearing the parties, the Hon'ble SAT has stayed the operation of the order passed by the WTM," a Franklin Templeton spokesperson said in a statement. The matter has been listed on August 30, 2021 for further directions, he added.
Apple will soon bring its latest lineup of MacBook Pro models along with HomePod mini, AirPods and a new music experience under Apple Music Voice Plan for Indian consumers. Apple's new M1 Pro and M1 Max, available in 14 and 16-inch models, delivers groundbreaking processing, graphics and machine learning (ML) performance. The new MacBook Pro range with M1 Pro and M1 Max are available to order via Apple's online store and will begin arriving to customers and its authorised resellers from October 26.
Amid prolonged uncertainty, continued policy support will be crucial for sustained economic recovery from the coronavirus pandemic, Reserve Bank Governor Shaktikanta Das said at the recent meeting of the Monetary Policy Committee. "In this period of prolonged uncertainty, it would be wise to remain agile and respond in a gradual, calibrated and well telegraphed manner to the emerging challenges," opined Das, according to the minutes of the MPC meeting released by the Reserve Bank on Thursday. Observing that economic recovery from the pandemic remains incomplete and uneven, he said, "continued support from various policies remains crucial for a sustained recovery." The governor said the renewed surge in international crude oil prices, however, requires close monitoring.
'We will be hoisting the tiranga, but this kind of celebration is uncalled for when the farmers in this country are dying by suicides, their families are ravaged by poverty and farmers are not enjoying any freedom.'
Franklin Templeton Asset Management (India) on Tuesday said it strongly disagrees with the findings in Sebi's order in the case of winding of six debt schemes in 2020 and has decided to challenge the direction in Securities Appellate Tribunal (SAT).
'It takes a lot of courage to be in that house. It's entertaining for some and horrifying for others.'
The fund house had offered two options to affected investors -- either monetisation of assets by trustees or hiring a third party to conduct the process.
'Do some profit booking and bring your equity allocation back to its original level.'
The earliest ones included whistles shaped like birds, toy monkeys that could slide down a string and small carts made from materials found in nature such as sticks, clay and rocks. While there might be no disputing India's rich toy-making tradition, the industry is languishing for lack of investment and technology, and also owing to competition from cheap imports. And though it has been listed among 24 key sectors under the government's Atmanirbhar Bharat Abhiyaan, the question remains: will this push help place it in the global game? Currently, 80-odd per cent of the toys sold in India are imported - nearly 60 per cent of them from China.
In the advisory, Union Home Secretary Ajay Bhalla said States and Union Territories may consider imposing need based, local curbs and restrictions, to control the crowd during the festive season.
The government has revised its divestment target downwards from Rs 2.1 trillion, as its ambitious privatisation programme has been deferred to next year.
The Volkswagen Vento is a great car when we look at its styling, build quality, driving feel and dynamics.
The country's largest software services firm Tata Consultancy Services on Monday opened the fourth-quarter earnings season with a stellar set of numbers, crossing the Rs 50,000 crore revenue mark for the first time and earning a net income of Rs 9,926 crore, registering a growth of 7.4 per cent year-on-year. The company said its revenue jumped 15.8 per cent to Rs 50,591 crore in the reporting quarter on an annualised basis. Many analysts were expecting the Tata group flagship to report over Rs 10,000 crore of net income and revenue to cross the Rs 50,000 crore mark this quarter.
About 150 years ago, in British India, big farmers in the western region of Maharashtra agitated over unfair lending practices and demanded a more fair and inclusive financing structure. People say this is where the seeds of the cooperative movement, now omnipresent in the country, were sown. Today, more than 800,000 cooperative societies thrive in India, with 300 million members, a number close to the population of the United States. Despite a reach this deep--grass roots as they call it--cooperatives do not occupy a lion's share in the Indian economy.
How long will the RBI allow the government to borrow cheaply? A change in policy direction will see rates climb and bond values fall. Investors in debt funds are therefore at risk, as are people invested in the heated stock market, warns T N Ninan.
'A strong foreign exchange reserve is the best safety net against global spillovers.'
The technology offers better picture quality than LCD, with crisper picture resolution, faster response times and high-contrast images.
'We never go overboard on any stock, no matter how good it may seem.'
After a strict lockdown impacting sales, India has returned to the growth path again, Anglo-Dutch FMCG major Unilever has said. The return of growth of India business, along with Brazil and continued recovery in China, helped the company's emerging markets clock a growth of 5.3 per cent in the September 2020 quarter.
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Bigger and broader indices do relatively poorly as investors get selective; experts see opportunity if scrips chosen with care.
As regular promotional discounts and offers rolled out by well-funded apps determine the demand trend, online hospitality aggregators face growing discontent from restaurants and hotels over commissions and pricing power.
Modi praised Tamil Nadu as a special place and lauded the Tamil language as eternal and its culture as global.
Equity mutual funds witnessed an outflow of Rs 9,253 crore in January, making it the seventh consecutive monthly withdrawal, primarily due to profit booking and portfolio rebalancing amid markets touching new highs. The pace of outflows from equities has however slowed for the third month and Gautam Kalia, head - Investment Solutions, Sharekhan by BNP Paribas said that it will likely turn positive soon as investors get used to the new normal. In addition, investors pulled out Rs 33,409 crore from debt mutual funds last month after investing Rs 13,863 crore in December, data from the Association of Mutual Funds in India showed on Tuesday.
German luxury car maker Mercedes-Benz on Tuesday said it has commenced the local production of its AMG portfolio in India, and rolled out its first-ever locally made GLC 43 4MATIC Coupe. The company rolled out AMG GLC 43 4MATIC Coupe, tagged at Rs 76.7 lakh (ex-showroom), from its Pune facility on Tuesday.
IT services major Infosys on Wednesday announced a new programme, wherein it will offer 500 job seekers the opportunity to complete a fully digital, online diploma course certified by Salesforce. The programme aims to prepare Americans for 21st century careers in the technology sector. Leveraging Trailhead, Salesforce's free online learning platform, the program will train these 500 American workers, free of cost, for roles at Infosys as Salesforce Certified Administrators and Salesforce Industries Developers, a statement said. The programme, targeting recent graduates from major universities, liberal arts colleges, and community colleges, will help Infosys to create a workforce prepared for the future, it added.
A car that gives you a better resale value will reduce the cost of your next purchase, points out Bindisha Sarang.
Markets are assuming that by the second half of 2021, the world will be approaching some type of normalcy, points out Akash Prakash.
ICICI MF recently filed for an ETF that will track the Nifty Alpha Low-Volatility 30 Index. It is part of the suite of smart-beta indices with the NSE, with the portfolio designed using a combination of two factors.
Things may seem too nice to be tru,e but the affable energy of its harmonious cast makes Potluck a rare light watch on the desi OTT scene, feels Sukanya Verma.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The encouraging news, however, is that India features among the top four countries out of 44 nations that projected a positive hiring trend.
Markets regulator Sebi and the Directorate of Revenue Intelligence (DRI) are probing some Adani Group companies for alleged non-compliance with rules, the government told Lok Sabha on Monday. Minister of State for Finance Pankaj Chaudhary in a written reply to a question said accounts of three of the six Mauritius-based funds, that have invested most of their money in Adani Group firms, were frozen in 2016 over the issuance of Global Depository Receipt (GDR) by certain listed firms. No freeze was ordered for their holding in other firms.
Rajan, 57, who was RBI governor for three years until September 2016, is currently working as a professor at the prestigious University of Chicago.
The one common thread that we see across these jobs is that they are all highly human-centric, points out Ramesh Kumar.
India added three unicorns per month in 2021 to nearly double the overall number to about 85 at last count. And there are many gazelles and cheetahs in the pipeline. All gunning to be unicorns (and then decacorns) soon thereafter, notes Sandeep Goyal.
'The fundamentals look strong, but we will have to see if they translate into actual demand.' 'Because the April-May marriage season didn't see much sales due to the lockdown.'
For existing investors, it may be prudent to redeem their current investments in gilt or dynamic schemes and invest it in short-term funds, if the exit load is not very high, advises Malhar Majumder.
