The growth in the PV segment was primarily led by car market leader, Maruti Suzuki India, which saw its dispatches to dealers grow 4.4 per cent YoY to 144,277 units after 10 months of drop. It was driven by new launches, such as the S-Presso, a mini sport UV.
Stating that COVID-19 has not yet been contained in India, the rating agency in a statement said the government stimulus package is low relative to countries with similar economic impacts from the pandemic. "The COVID-19 outbreak in India and two months of lockdown -- longer in some areas -- have led to a sudden stop in the economy. That means growth will contract sharply this fiscal year (April 2020 to March 2021)," it said. "Economic activity will face ongoing disruption over the next year as the country transitions to a post-COVID-19 world."
This move was triggered by a whistleblower complaint sent to Sebi against senior management interference in ensuring good ratings specifically in IL&FS and its subsidiaries.
Government asks banks to furnish capital, ratings and NPA details.
Marking a breakthrough in the protracted talks in the French Rafale jet deal, Prime Minister Narendra Modi announced on Friday that India will purchase 36 of these fighter planes that are ready to fly, citing critical operational requirement of the Indian Air Force.
132 Tests. 271 ODIs. 619 Test wickets. 337 ODI wickets.
India's growth outlook has weakened sharply this year, with a crunch that started with the non-banking finance institutions spreading to retail businesses, car-makers, home sales and heavy industries.
The overall breadth was extremely positive as 1,714 stocks advanced while 1,008 stocks declined
Modi said a separate rating agency would help the economies of the member countries as well as other developing nations.
'The Indian economy is in slowdown and growth may stay slow,' notes Devangshu Datta.
An Indian-origin former analyst has been accused of providing confidential company information in the Raj Rajaratnam-led insider trading scheme, has been fined $34 million for his role in the scheme.
The Board of Control for Cricke in India decided to invite more applications for the post of Indian team's coach to give Cricket Advisory Committee (CAC) a wide range of options to pick a suitable candidate.
India's Team manager, Kapil Malhotra, for the Champions Trophy, has made a startling revelation.
Sukanya Verma tells us just what makes Mirch Masala a must watch.
Last year, the capital infusion budget was Rs 20,157 crore.
Seeking to downplay the impact of the downgrade by Moody's, the country's largest lender SBI on Wednesday admitted that the action will marginally increase medium term borrowing costs, and said it is a "reminder" to the government to urgently capitalise it.
The market breadth in BSE ended extremely firm with 2,137 shares advancing and 671 shares declining.
What do the critics of the prime minister know, India has reached the zenith of its glory under the Modi dispensation, says Durba Dhyani.
More than one-third of this amount (Rs 6,000 crore or Rs 60 billion) is likely to go to the country's largest lender, State Bank of India, while the demand for most other banks is less than Rs 1,000 crore (Rs 10 billion) each.
Bad loans are turning nightmarish for Indian banks.
Out of 200-odd countries, just 16 nations have the coveted triple-A rating.
The bank had earlier announced that it would double its medium term note borrowings to shore up the tier-II capital to $10 billion this fiscal.
Among top losers that dragged down key indices were Infosys, TCS, Reliance, SBI, Tata Steel and ITC, falling up to 2.15 per cent.
A key hindrance to a faster turnaround of these banks is the slow progress in the resolution of legacy bad loans and the need to build up provisions against those assets.
While Rohit Sharma's absence because of a hamstring injury has affected the batting order, Shikhar Dhawan's poor run is a major reason for India's poor showing on the ongoing tour of Australia.
'The prime minister's announcement of a nation-wide shutdown was eloquent, but should have been more clearly phrased to avoid police overreach.' 'Migrant labour should have been allowed adequate notice and transport options to get home,' notes Rahul Jacob.
The immediate concern for the rupee is the sharp spike in oil prices
Reaction after Cricket Australia (CA) banned sacked captain Steve Smith and vice-captain David Warner for 12 months and opening batsman Cameron Bancroft for nine months for their roles in the ball-tampering scandal in Cape Town.
A glance back at some of the important ups and down Indian Inc faced in 2018.
India Inc on Wednesday said the Reserve Bank's move to cut interest rate by 0.50 per cent is "pro-growth" and exhorted banks to transmit the lower interest rate to borrowers to revive demand and kick-start the investment cycle.
India's stand at the FATF plenary and other related discussions have always been consistent regarding Pakistan.
The finance ministry on Tuesday cited "green shoots" of recovery in agriculture, manufacturing and services sectors, and said the prompt policy measures taken by the government and RBI have helped reinvigorate the economy with minimal damage. Stating that the agricultural sector remains the foundation of the Indian economy, the ministry said that a normal monsoon, as has been forecast, should support the rebooting of economy.
The deal, as well as some other strategic and financial investments in works, will help Ambani cut debt at RIL.
Credit ratings agency Moody's on Monday said the Reserve Bank of India's recent move to hike short-term borrowing and lending rates to tame inflation will put pressure on overall deposit and interest rates.
Small Factories Act, Industrial Relations Code likely to be redrafted under pressure from Bharatiya Mazdoor Sangh
The Indians expectedly dominated the Under-19 World Cup team announced by the ICC on Sunday, with five players from the triumphant side making it to the world eleven.
Somdev Devvarman yet again holds the key as the Indian Davis Cup team, sans Leander Paes, take on hosts South Africa from Friday to stake claim of a berth in the World Group after 11 years.
Petrol and diesel prices on Tuesday touched fresh highs as rupee dipped to a record low of 71.54 against US dollar, making imports costlier
The rally was led by IT stocks, with TCS and Infosys rising up to 5 per cent. Yes Bank, on the other hand, was the biggest loser on both the bourses, cracking nearly 12 per cent
Former New Zealand opener John Wright, who coached India with great success, has emerged as the favourite to become coach of the Black Caps after two Australians and ex-Black Cap skipper Stephen Fleming ruled themselves out on Wednesday.
