Expenditure on new projects slowed down for the second quarter in a row amid an uncertain global environment and higher borrowing costs. There were new projects worth a cumulative Rs 3.26 trillion in the July-September period, according to data provided by project tracker Centre for Monitoring Indian Economy (CMIE). This figure is much less than Rs 4.39 trillion in the June quarter (Q1FY23) and Rs 8.46 trillion in the March quarter (Q4FY22).
Was descending into the telling of only Diana's tale in four long, slightly-draggy soap-opera-ish episodes of the last season the original premise of The Crown? asks Vaihayasi Pande Daniel.
Infosys was the only large-cap IT player to report sequential constant currency (cc) revenue growth for the June quarter (1 per cent ), which was ahead of analyst expectations, but the company's sharp downward revision in its growth guidance took most brokerages by surprise. In line with the cut in its FY24 revenue guidance (cc) to 1-3.5 per cent, brokerages have unanimously reduced FY24 EPS estimates for the company in the range of 2-4 per cent, though the Street is likely fearing even further downside, they say. Global brokerages Macquarie and Nomura downgraded Infosys to underperform and reduce ratings, respectively, with the latter cutting the target price to Rs 1210 from Rs 1260.
Qatar's sovereign wealth fund is in early discussions to buy a minority stake in billionaire Mukesh Ambani's rapidly expanding retail unit for about $1 billion (Rs 8,200 crore), sources said. The Qatar Investment Authority is keen on tapping the fast-growing Indian market and has entered into a discussion to buy about 1 per cent stake in Reliance Retail Ventures, sources with knowledge of the matter said. Talks, sources said, are at a preliminary stage and being led by an executive director on the board of parent Reliance Industries Ltd.
'I would not suggest buying these stocks in the dip, as the upside in profit is dented without a safety net for a rainy day.'
England's white-ball captain Jos Buttler described Ben Stokes as a 'once-in-a-generation player', while his predecessor Eoin Morgan hailed him as a 'true leader'.
The challenge is to enhance opportunities for people to generate livelihoods through entrepreneurship, both big and small, argues R Jagannathan.
The ICC Men's Cricket World Cup 2023 stage is set as all 10 captains gathered on Wednesday at the world's largest cricket stadium in Ahmedabad on the eve of the biggest Cricket World Cup ever.
Since its results for the first quarter of the 2023-24 financial year (Q1FY24) earlier this month, the stock of auto component major Bharat Forge is up nearly 15 per cent and hit its all-time high in the process. The recent gains have extended the returns over the last three months to over 34 per cent. After a strong Q1 performance which beat expectations, brokerages had revised their earnings estimates upwards to factor in the improved outlook.
Alvaro Morata scored a brace to help Atletico Madrid deliver a statement performance as they outclassed city rivals Real Madrid.
Srinivas Bhogle and Purnendu Maji present Rediff.com's Most Valuable Player Index after 37 World Cup 2023 games.
The club's cricket committee considers the nomination of players for life membership as recognition to the 'outstanding international careers for some of the greats of the game'.
Uday Kotak has resigned as the managing director and chief executive officer of Kotak Mahindra Bank, the bank said in a stock exchange filing on Saturday.
Livingstone was named in coach Chris Silverwood's squad for the World Cup as a replacement for Ben Stokes, who had taken an indefinite break from cricket to focus on his mental health while also recovering from a second operation on a broken finger.
A combination of one of the lowest labour costs and a large surplus workforce, which will continue to grow until 2031, is one of the key competitive edges that India is leveraging to challenge its rivals in Southeast Asia in the race for a China-Plus-One strategy. Apart from India, the countries in the race to woo global companies that manufacture in China, as well as the supply chains to their country include Thailand, Indonesia, Malaysia, the Philippines, and Vietnam. On the labour front, India is a clear winner.
India's prices are rising faster than many of its emerging market peers. The country's inflation print for May at 4.25 per cent is a marked reduction from the levels seen in May 2022 (7.04 per cent). However, even though the inflation rate remains within the Reserve Bank of India's medium-term target of 4 per cent, with a 2 per cent margin on either side, it continues to be higher than China, Russia, and Brazil.
With Housing Development Finance Corporation's (HDFC's) merger with HDFC Bank becoming effective on July 1, the merged entity is set to become the top weight in the benchmarks S&P BSE Sensex and the National Stock Exchange Nifty indices, dislodging the country's most valuable company, Reliance Industries (RIL), from its perch. HDFC will stop trading after July 13. At present, RIL has a weighting of close to 12 per cent in the Sensex and 10.3 per cent in the broad-based Nifty. Meanwhile, HDFC Bank and HDFC have weights of 9.9 per cent and 6.8 per cent in the Sensex and 8.8 per cent and 6 per cent in the Nifty, respectively.
Images from the English Premier League matches played on Saturday.
The question is: Will the company have a strong balance sheet to support this massive investment plan?
Buttler said he felt the current squad was only at the beginning of a new era for English cricket.
Sweden goalkeeper Zecira Musovic emerged as the hero as her team beat the United States 5-4 on penalties
New investment projects announced in the manufacturing sector declined in the three months ended June 2023. The value of new projects was lower than in the March quarter, as well as the year-ago period, shows data from project tracker the Centre for Monitoring Indian Economy (CMIE). The new project announcements worth around Rs 85,000 crore in the manufacturing segment in June were a 48 per cent decline from the Rs 1.6 trillion in March and a 66 per cent decline from the Rs 2.5 trillion seen in June 2022.
Images from Day 3 of the second Ashes between England and Australia at Lord's.
In an effort to inculcate and promote diversity, the England Cricket Board hosted an Iftar party in the iconic Long Room at the Lord's cricket ground.
"We do everything that is in our power, so I do research on every opportunity that comes. We do everything we can if that opportunity will be there."
The sharp rally in the broader markets has propelled India's market capitalisation (m-cap) to a new high. The combined m-cap of all BSE-listed firms rose to Rs 291.9 trillion in intraday trade on Thursday before settling lower at Rs 290.9 trillion. The previous record was on December 14, 2022, at Rs 291.3 trillion.
Institutional shareholders of Reliance Industries Limited (RIL) are expecting big-ticket announcements from the company, including timeline for listing of its telecom and retail subsidiaries. They expect this to unlock value in the company, which has seen a sharp fall in market valuation on Friday. This is due to windfall tax imposed by the Centre on refiners and oil producers.
A summary of Saturday's action in the English Premier League.
Ronaldo's future at United is up in the air after he said he felt 'betrayed' by the Premier League club
England captain Eoin Morgan says explosive opener Jos Buttler is one of the few T20 players who are taking the modern game to next level with their exceptional skills.
M&M, which owns a 75 per cent stake in SYMC, rescued the sport-utility vehicle (SUV) maker from near-insolvency in 2010 but has struggled to revive its fortunes.
Melbourne Stars captain Adam Zampa aborted a ball during his run-up after seeing Rogers leave his crease early and whipped off the bails, with umpires initially giving it as a run out.
The working used to be so tough that they were given breaks every 20 minutes and adequate arrangements for labourers like fans and glucose water was made available.
'Why does Ashwin have to be that guy again?'
With Mahendra Singh Dhoni still hitting big sixes, CSK teammate Moeen Ali said he wouldn't be surprised if MSD was still leading Chennai Super Kings next year.
Reliance Industries (RIL) has been distilling its investment strategy to meet new goals. The share of the new energy vertical - its key focus area - accounts for more than a fourth (26 per cent) of the total war chest of $6.4 billion, ploughed into acquisitions and picking up stake from 2018 to date, reveals the latest Morgan Stanley data. Nearly half the incremental investments made on deals by RIL between August 2020 and September this year ($3.3 billion) has been spent on new energy - acquiring global companies with technology and expertise.
The Netherlands and Sweden marched into the quarter-finals of the FIFA Women's World Cup.
Less-than-expected rainfall and a poor spatial distribution, experts say, can rekindle fears of a rise in food and fuel inflation that can have an impact on the RBI's monetary policy. The fear of less than optimal rainfall due to El Nino this year, analysts believe, is the biggest short-term risk for the markets, which they said has not been fully priced in yet by them. Monsoon set over Kerala on June 08, a week later than its scheduled date.
Kolkata Knight Riders skipper Eoin Morgan has hailed his bowlers as 'superstars' of the team, saying their outstanding performance in the first two games of the second leg of IPL in the UAE has allowed the openers to play with freedom.
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