The 30-share Sensex ended 50 points lower at 28,112 and the 50-share Nifty declined 12 points to close at 8,531.
During the month, inflation in vegetables shot up to 35.99 per cent, as against 26.10 per cent in October. Likewise, the prices of cereals and eggs grew at a faster pace of 3.71 per cent.
Moody's Investors Service on Friday said India's economy is expected to contract for the first time in more than four decades saying economic damage owing to the coronavirus-induced lockdown will be significant with lower consumption and sluggish business activity. Even before the coronavirus outbreak, Indian economy already was growing at its slowest pace in six years and with the stimulus measures announced by the government falling short of expectations, the disruptions are likely to be greater. "We now expect India's growth to register a real GDP contraction for the fiscal year ending in March 2021 (fiscal 2020-21), from our earlier projection of zero growth," it said in a research note.
'A growth of above 7 per cent when the fundamentals of the economy are becoming stronger still makes India the fastest growing large economy.'
TCS was the top gainer in the Sensex pack, rising over 3 per cent, followed by L&T, Bharti AIrtel, HCL Tech, Tata Steel, Bajaj Auto and Reliance Industries. NSE Nifty rallied 164.70 points to its fresh closing peak of 16,529.10.
Over the next three - six months, UBS believes earnings will be the main driver for EM equities outperformance.
I suggest we build a Vigyan Mandir (Temple of Science) with the ambience of a place of worship, so that it becomes a destination for pilgrims. We should embed on its walls bronze plaques describing each scientist mentioned here along with about a dozen of our ancient mathematicians, recommends Professor Kalyan Singhal, historian of science and technology.
MHCV sales' grew by 9% to 5,033 units over September 2020 and 3% over October 2019, the first month registering growth over the previous year.
When the world was upended by the Covid-19 pandemic, metals got its shine back. In the last two years, infrastructure spending by major economies spurred demand, energy transition and intermittent supply disruptions fuelled a scorching rally in metals after a downturn during the first Covid wave. Now, Russia's war on Ukraine is ensuring that elevated prices stay the course.
While margins contracted by 30 basis points on y-o-y basis, they fell a sharper 120 basis points on a sequential basis to 16.8 per cent. Profitability was impacted adversely due to subdued demand, tepid realisations in commodity sectors, and negative operating leverage.
Sensex, Nifty end lower on global concerns.
Apart from IT and pharma, the lead spenders in travel are construction, automobile and metals and mining companies and together these sectors accounted for 82 per cent of business travel spend in India in 2015, up from 78 per cent in 2013.
As more organisations across sectors awaken to the far-reaching benefits of having skilled data professionals on board, the demand is projected to grow by 28% by 2026, notes Subramanyam Reddy, founder and CEO, KnowledgeHut, a global edtech firm.
Here's a list of 20 best performing states in terms of GDP.
If we basically expect the government to use taxpayers' money to intervene every time when there are some 'sunsets,' then I think you introduce possible moral hazards: Subramanian.
'For our traditional membership base, it would be an access to disruptive ideas,' FICCI President Subhrakant Panda tells Asit Mishra/Business Standard.
Infrastructure, stricter implementation boost commercial vehicle sales
What the labour market statistics of March 2022 show is India's biggest sign of economic distress, points out Mahesh Vyas.
The manufacturing sector during the fourth quarter recorded a growth rate of 9.3 per cent while the farm sector grew at 2.3 per cent.
Global gold demand has seen a year-on-year decline of 8 per cent during the April-June period to 948.4 tonnes and going ahead further monetary tightening and continued dollar strength may pose headwinds, says a report. According to the WGC Gold Demand Trends Q2 2022 report, the total gold demand during the second quarter of 2021 stood at 1,031.8 tonnes. The year-on-year demand was affected by increase in gold electronic traded funds (ETFs) outflow, decline in Central banks buying and lower demand from the technology segment, the report said.
Growth in factory output, as measured by the Index of Industrial Production, was 6.2 per cent in May 2011, according to the official data released on Thursday.
Chidambaram promises to maintain fiscal discipline; admits inflation is an issue.
Moody's, which cut its FY14 growth estimate to 4.5 per cent recently, said economic growth will be lowest in a decade.
'We don't expect any immediate impact on salaried jobs.'
The second wave of the pandemic in the country has derailed the recovery momentum of the domestic auto industry, which was poised for a comeback in the current fiscal after witnessing the two consecutive challenging years, ratings agency ICRA said on Thursday. Unlike the first wave where infections were largely localised to urban clusters, the second wave has seen deeper and wider penetration, including into rural hinterlands. Accordingly, outlook for various segments has been revised downwards, it said.
The company's planned capex for 2019-2020, which was Rs 12,000 crore, has now been revised down to around Rs 8,000 crore.
Among the private banking majors ICICI Bank and HDFC Bank were down 0.2%-0.5% each.
Growth acceleration will be gradual and it is still early days for a sharp recovery, says Gautam Chhaochharia, executive director and head of India research, UBS.
Propelled by a strong growth in manufacturing, the industrial production grew by 6.4 per cent in January over the same period of the previous year.
The previous high GDP growth of 8.1 per cent was recorded in April-June quarter of 2016-17.
The industrial production growth rate has dipped to 0.1 per cent in July, as against 3.7 per cent in the same month last year.
India always faces a Hobson's choice as far as feeding coal-fired generators goes - even if the government is reluctant to admit it. The country cannot do without shipping in the world's most polluting fuel from overseas. And it will continue to do so unless it decides to reduce demand by forcing citizens, farmers and businesses to live without electricity for part of the day, or use diesel generators to fire facilities.
Coal India achieved a staggering production of 536.51 million tonnes during the financial year ended March 31, 2016
The industry body said a strong inter-ministerial coordination group is required to resolve sticky issues like the 'mining conundrum' and 'raw material securitisation' for sectors like steel.
Factory output measured in terms of the Index of Industrial Production had contracted 2 per cent in June last year, as per the data released by the Central Statistical Organisation.
The world's biggest lockdown that shut a majority of the factories and businesses, suspended flights, stopped trains and restricted movement of vehicles and people, may have cost the Indian economy Rs 7-8 lakh crore during the 21-day period, analysts and industry bodies said.
Net profits may dip 4.9% y-o-y, but the silver lining is that performance may be better than the preceding quarter
India's industrial production shot up by 12.4 per cent in July 2006 as against 4.7 per cent in the same month last year.
The Indian economy grew by 9.6 per cent during the year 2006-07, up from 9.4 per cent in the previous year, on the back of strong showing of manufacturing sector.
Trade between India and Indonesia stands at $20 billion.
