June was a memorable month for the 101-year-old Tamilnad Mercantile Bank (TMB). Last month, the Thoothukudi-based bank witnessed two new landmarks in a history in which the last three decades could easily qualify for a Kollywood blockbuster.
There is a lot of optimism as regards the defence, railway and manufacturing sectors.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
In the past two months alone, four companies have garnered a cumulative Rs 22,400 crore via this route.
Tata Steel has a very British problem. The performance of Europe dragged the steel major's October-December (Q3FY23) performance with the UK business accounting for a major part of the operating loss; on the bottom line, the overhang of the British Steel Pension Scheme (BSPS) showed. And a nearly three-year discussion with the UK government on a support package for a green transition resulted in an offer that fell short of the ask.
The Index of Industrial Production (IIP) grew by 1.4 per cent in November as most components like manufacturing, electricity, mining, primary goods, and consumer durables witnessed a slowdown, according to data released by the National Statistical Office (NSO) on Wednesday. This is on the base of a decline of 1.7 per cent in November 2020 and before the new Covid variant started impacting economic activity. IIP growth was lower than the 4 per cent expansion recorded in the previous month but was better than a 1.6 per cent contraction seen in November 2020. Separately, rising prices of kitchen staples pushed retail inflation, or rate of price increase, to 5.59 per cent in December 2021, bringing it close to the upper band of Reserve Bank's comfort zone.
India VIX has been mirroring the CBOE Volatility Index.
The combined profit before tax of 748 companies, which have declared their results for Q1FY21, is down 46 per cent YoY. Their net sales went down by a quarter as the Covid-19 lockdown led to a sharp fall in economic activity.
Gold prices are likely to decline further to around Rs 24,500 per 10 grams by December if the rupee continues to rule at the current level.
'The levy proposed to be charged on air tickets for regional connectivity fund would marginally increase cost.'
Move can also bring a huge change in the way business is done in India, where firms use multiple current accounts, often for even individual projects, making them difficult to monitor.
Gold, which lost its sheen to some extent in the second half of 2021, is likely to regain the glitter in the New Year and cross the Rs 55,000-per-10-grams level amid pandemic woes, inflation worries and stronger US dollar. After a stellar run up in 2020 when the yellow metal touched a record high of Rs 56,200 on the MCX in August, the prices are near Rs 48,000 per 10 grams now. This is roughly 14 per cent lower from the all-time highs and 4 per cent lesser compared to January 2021 levels.
'The decline was inevitable as one-year returns have been negative.'
As many as eight companies have completed their share buyback plans in the first quarter of 2014-15, purchasing stocks worth nearly Rs 222 crore (Rs 2.22 billion) which is 75 per cent of the collective target.
Investors sinking lump sum money in equities seem to have applied the brakes.
Sentiment has improved but no progress on GST & ending 'tax terrorism' disappoints.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Titan accounted for 59.6 per cent of his disclosed portfolio at Rs 8,355 crore. This is more than 10 times the next biggest holding, Federal Bank, at Rs 619 crore.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Capital goods stocks rallied nearly 16 per cent since January on purchases by foreign institutional investors and in anticipation of a change of government at the Centre.
To be able to tide over the current crisis, automobile manufacturers have waged a war against all cost heads.
Over the past one-and-half years, the number of stocks trading below their respective face value has increased 29 per cent after a sharp correction in stocks of small-cap companies.
'Overall, the Indian economy is doing well.' 'Our economic fundamentals are strong and the early signs of recovery are sustainable.' 'This is positive for the market in the long run.'
Outflows are likely to continue, experts say, till such time as the markets see a significant correction.
Equity investors grew richer by Rs 32.49 lakh crore in 2020 on the back of smart returns in the stock market which had a roller-coaster ride during the year hit by the coronavirus pandemic. The COVID-19 outbreak ravaged lives and livelihoods on a global scale, shuttering businesses and jolting world equities. But amid all the gloom, Indian stock indices gave hope of returning to winning ways towards the latter part of the year.
Market players said a big upmove by the market will depend on policy action by the government to revive economic growth and corporate earnings revival.
But what do banks gain by opening their apps for all? The answer -- rival bank's customers under their fold.
DMart's everyday low pricing model is being replicated aggressively by most players (online as well offline retailers), compelling the firm to keep prices down significantly.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
The fall in crude prices has added to the gains.
As share of cash volumes in trading mix sees decline, it will result in moderation of profitability from core broking operations.
Given the developments, analysts expect fiscal and monetary support from the government and RBI to revive sentiment. However, recovery, they say, from these levels will be slow and painful.
A joint venture of Synbiotics, a wholly owned subsidiary of Ambalal Sarabhai Enterprises (ASE), and CoDiagnostics, CoSara Diagnostics is the first and only Indian company so far to receive a licence from the Central Drugs Standard Control Organisation (CDSCO) to manufacture coronavirus diagnostic test kits.
According to experts, the Nifty has continued to form lower top-lower bottom formations, a trend seen in the last five weeks, and witnessed sharp selling towards 9,700 zones.
The intra-city cable leasing deal will give RCom Rs 1,200 crore, which will be used to clear some of its debt.
The elections held in April-May 2019 will be an important determinant of future growth and investment.
RJio will further add bottomline pressures on the already struggling telcos that will ultimately be forced to consolidate
Gold, which was hovering around $1,321 an ounce in January 2019, has already breached $1,600 per ounce in the past few sessions to a seven-year high.
NSEL scam: Brokers of IIFL, Anand Rathi, Geojit arrested.
The social impact of this could be worse as 300 million subscribers may face the annoyance of network shutdown and churn.
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