Commerce and Industry Minister Piyush Goyal will accompany Prime Minister Narendra Modi to London for the signing of the free trade agreement between India and the UK on July 24, an official said on Monday. The two countries announced the conclusion of the negotiations for the trade agreement on May 6.
The fiscal tilt towards capex benefits companies in investment-related sectors like capital goods, defence equipment, engineering & construction and metal & mining. The planned cut in revenue expenditure will weigh on companies in consumption sectors like FMCG, consumer durables and retail.
'We remain in touch with the Chinese side, in Beijing as well as in Delhi, to bring predictability in the supply chain.'
It is the diamond in Africa and Russia that is dazzling India these days. India is planning joint ventures with diamond mining companies across Russia, Africa and the CIS nations.
Chairman says turnaround has begun in sector expects 10% growth in firm's core business this year.
Sitharaman does away with loans from National Small Savings Fund to Food Corporation of India.
Shares of public sector enterprises have corrected by up to 22 per cent month-to-date until March 19, 2024. Analysts attribute this steep fall to the valuation exuberance seen after a sharp run in these counters last year and suggest investors remain selective regarding the stocks in this space. "The rally in public sector undertaking (PSU) stocks has been stretched and sharp, although it is somewhat justified by improvements seen in earnings, operations, balance sheets, and overall profitability.
The headline for corporate profit growth has been very encouraging in the July-September quarter (Q2) of 2023-24 (FY24), with the combined net profit of listed companies up by 38 per cent year-on-year. However, the earnings distribution has been very lopsided, with most of the growth coming from public-sector oil-marketing companies (OMCs), banks, non-bank lenders, automobile (auto) companies, and cement producers. By comparison, companies from information technology services, fast-moving consumer goods (FMCG), retail, and consumer durables were disappointed, experiencing a sharp slowdown in net sales growth and a relatively muted increase in reported net profit.
Despite the low prices, commodities are risky investments
The Madras high court has directed the Tamil Nadu Crime Branch-CID police to probe the case of 'missing' gold, which left the country's premier investigating agency red-faced.
Non-mineral-rich states will benefit from tariff concessions.
This is the lowest investment grade rating.
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