Bihar Chief Minister Nitish Kumar on Wednesday apologised in both Houses of the legislature, as well as outside, for remarks made a day before on the importance of women's education to control population growth.
The spike in food prices at the onset of the monsoon season has corroborated the Reserve Bank of India's (RBI's) view that the fight against inflation is far from over, the State of the Economy report of the central bank said. At the same time, the report said that the country is poised to become the fastest-growing major economy in the world, notwithstanding some sequential moderation in economic activity in June. Consumer Price Index (CPI)-based inflation rate increased to 4.8 per cent in June 2023, from 4.3 per cent in May, primarily on account of an increase in food inflation.
Notwithstanding India's insistence on action against Jamaat-ud-Dawa chief Hafiz Saeed, Pakistan was non-committal on action against the mastermind of Mumbai attacks and several other terror strikes in India. "Same old beaten track," said Pakistan Foreign Minister Shah Mahmood Qureshi when asked for his response to India's repeated demand that action should be taken against Saeed in connection with Mumbai attacks.
The value of MF exposure to REITs and InvITs which was at Rs 734 crore at the end of March 2020, rose to Rs 5,200 crore by the end of March 2023.
'The market will focus on the fact that India does have strong earnings growth this year.'
'Earnings will be the catalyst for markets to march higher from here on out.'
Notwithstanding India's protests, the Obama administration is readying itself to provide Pakistan with even more massive doses of military largesse, as senior United States officials acknowledged that Pakistan's request for additional security assistance would be a top priority on the agenda of the US-Pakistan Strategic Dialogue that begins on Wednesday.
Narayan Jagadeesan followed up his double ton in the previous game with a magnificent triple century to help Tamil Nadu declare their first innings
All political parties were asked at the dinner meeting on Monday night to suggest names for the alliance and the same would be discussed and consensus would be arrived at during the deliberations.
Automotive (auto) and auto ancillary stocks have been in the fast lane thus far in 2023-24 (FY24), with the National Stock Exchange Nifty Auto Index surging nearly 27 per cent, outperforming the Nifty50, which has gained roughly 11 per cent during this period. The top-gear performance of auto stocks at the bourses, according to A K Prabhakar, head of research at IDBI Capital, has been triggered by the premiumisation of products across vehicle manufacturers, which has seen vehicle sales remaining relatively stable. "It is not about higher sales figures now, but about premiumisation.
Stocks of small- and mid-cap companies continued to gain ground in July, notwithstanding analysts sounding caution on these two market segments given the sharp run thus far in calendar year 2023 (CY23). Sanjeev Prasad, co-head of Kotak Institutional Equities, in a note co-authored with Anindya Bhowmik and Sunita Baldawa in June-end, had cautioned against the sharp run in small- and mid-caps. "We do not see any particular reason for the excitement in small- and mid-cap stocks.
US Special Coordinator for Tibetan issues Uzra Zeya will travel to India and Nepal this week to deepen cooperation on human rights and democratic governance goals with the two nations, the state department has announced.
Lower crude oil costs and higher marketing margins are expected to raise the fortunes of oil marketing companies (OMCs) in the first quarter (Q1) of 2023-24 (FY24), while city gas distribution (CGD) companies could also benefit from lower spot prices of liquefied natural gas (LNG). However, in a break from the past, growth trends are expected to diverge for various segments within the broad energy sector. Analysts expect the earnings from gas production to go down for upstream national oil and gas companies such as Oil and Natural Gas Corporation (ONGC) and Oil India (OIL) due to the introduction of the new domestic gas pricing regime on April 1. After showing steep losses over the first half of 2022-23 (FY23), the marketing margins of OMCs have steadily recovered in four months.
The United States on Friday announced it will provide a whopping $2.29 billion in new military aid to Pakistan to bolster its army's anti-terror capabilities, notwithstanding India's concerns that Islamabad has been diverting a portion of such assistance against it.
Ravindra Jadeja's ill-timed run out in back-to-back One-dayers against Australia notwithstanding, India captain Mahendra Singh Dhoni on Saturday, backed the promising all-rounder saying he would learn from his mistakes.
The central government's response was conveyed to the court by Solicitor General Tushar Mehta, after a five-judge constitution bench headed by Chief Justice DY Chandrachud, hearing the pleas challenging the abrogation of Article 370, asked it to set a specific time frame for restoration of electoral democracy in the erstwhile state.
Images from the ICC World Cup match between Afghanistan vs South Africa, in Ahmedabad, on Friday.
Prannoy signs off with maiden World Championships bronze medal after losing semifinal to Vitidsarn
Foreign direct investment into the country is expected to rebound in the coming months on account of India's high economic growth, and steps to further improve the business environment of India, the Economic Survey said on Tuesday. The rise in global uncertainty in the wake of the Russia-Ukraine conflict, FDI equity inflows in the manufacturing sector in the first half of the current fiscal (April-September) fell below its corresponding level in the first half of 2021-22, the document, which was tabled in Parliament, said. The monetary tightening at the global level has further restricted the FDI equity inflows, the survey said.
Notwithstanding the risk involved, analysts are upbeat on micro-cap investing as India remains in a firm bull market. Moreover, these stocks are available at relatively cheaper valuations compared to large, mid and small caps, assuring alpha returns. With a market-capitalisation (market-cap) of up to Rs 10,000 crore, micro-cap stocks are outside the purview of Nifty 500 stocks, and are ranked from 501 to 750 in the market-cap ladder.
Russia has already begun delivery of the first S-400 systems, and the question of sanctions, or of a waiver to sanctions, preoccupies New Delhi.
Nicholas Burns noted that the Administration had been informed the Senate and House would meet in the early part of December to reconcile both bills.
Notwithstanding India's reservations, the US said on Tuesday that it would "consider" Pakistan's request for a civil nuclear deal as it wanted to help the country meet its immediate and long-term energy needs. Ahead of the crucial bilateral strategic dialogue between the US and Pakistan on Wednesday, Secretary of State Hillary Clinton made it clear that the issue of energy would be one of the subjects of discussion but refused to pre-judge the outcome of the talks.
The top court also dealt in detail with the legal principle on dying declaration and its trustworthiness on the presumption that a person on death bead does not lie.
The five-judge constitution bench headed by Chief Justice DY Chandrachud, which heard their contentions at length, told them they will have to justify the procedure adopted for abrogation as the court cannot postulate a situation "where the ends justify the means".
"Law is supposed to be a noble profession," the Supreme Court observed on Thursday, and voiced surprise over how can one of the convicts in the Bilkis Bano gang-rape case and murder of her family members during the 2002 Gujarat riots practise law after his conviction, the remission of his sentence notwithstanding.
'Recent underperformance notwithstanding, equities should constitute a major part of investors' financial portfolio.'
The bench in its order held that the scope of the Scheduled Castes and the Scheduled Tribes (Prevention of Atrocities Act) cannot be limited to the state where a person is declared as a member of the Scheduled Caste or Scheduled Tribe community.
The Reserve Bank on Wednesday barred Mastercard Asia Pacific from onboarding new credit, debit and prepaid card customers with effect from July 22 as it failed to comply with data storage norms. The supervisory action will not impact existing customers of Mastercard, the Reserve Bank of India (RBI) said. Taking action against Mastercard, RBI said, "notwithstanding lapse of considerable time and adequate opportunities being given, the entity has been found to be non-compliant with the directions on Storage of Payment System Data".
Rising crude oil prices and muted passenger traffic in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24) have raised concerns about the profitability of listed aviation players. These two concerns have caused the stock of InterGlobe Aviation (IndiGo), the largest player in the sector, to slip by 11 per cent since its highs at the end of July. Nuvama Research expects yields to cool down in the near term due to seasonality, rising crude oil prices, and higher capacity.
Notwithstanding lower growth rates recorded in the first quarter (Q1) of 2023-24 (FY24), which spanned from April to June, footwear stocks have seen some gains in the past two trading sessions. Bata India saw an increase of approximately 5 per cent, driven by positive expectations surrounding a potential tie-up in the sports/athleisure segment. This development is viewed favourably due to the segment's higher growth rates.
The nation is looking at using lower rig rates and oil field services that are likely to result from fall in international oil prices and global recession to comb the unexplored areas, so that its import dependence could be cut. So far, 206 blocks have been awarded under seven rounds of bidding under the New Exploration Licensing Policy.
'Indian equity valuations, although not very expensive, are not cheap either.'
External Affairs Minister S Jaishankar is set to hold separate bilateral talks with his Chinese counterpart Qin Gang and Russia's Sergey Lavrov at a beach resort in Goa on Thursday on the sidelines of a conclave of the Shanghai Cooperation Organisation (SCO) amid rapidly evolving regional security situation.
The Bharatiya Nyaya Sanhita (BNS) Bill which is proposed to replace the British-era Indian Penal Code (IPC) does away with two contentious provisions on unnatural sex and adultery that were diluted and struck down respectively by the Supreme Court in 2018.
The finance ministry on Thursday raised concerns over the possible impact of El Nio conditions on India this year, saying if recent forecasts came true, the country could see lower agricultural output and higher inflation. "Some meteorological agencies predict the return of El Nio conditions in India this year. "If these predictions are accurate, then monsoon rains could be deficient, leading to lower agricultural output and higher prices," the ministry said in its monthly economic review.
Tata Motors' 2022-23 (FY23) January-March quarter (fourth quarter, or Q4) results were better than Street estimates, with strong showing across Jaguar Land Rover (JLR), as well as commercial and passenger vehicle businesses in the domestic market. The company posted its highest consolidated top line and operating profit, with growth of 35 per cent and 46.5 per cent, respectively, over the year-ago quarter. While the top line was aided by a 49 per cent growth in the JLR unit, all key segments reported margin expansion.
The stock of India's largest agrochemical player - UPL (formerly United Phosphorus) - fell 2.8 per cent in trade. It was among the top losers in the BSE 100 on Tuesday. Weak 2022-23 (FY23) January-March quarter (fourth quarter, or Q4) performance and muted near-term outlook led to the decline. The company reported lacklustre growth in revenue of 4 per cent on the back of a price reduction of 3 per cent and volume growth of 1 per cent.
The Supreme Court on Tuesday told the Madras high court chief justice that the habeas corpus petition of Tamil Nadu minister V Senthil Balaji shall be decided by new bench expeditiously, and asked him to place the plea before three judges "at the earliest".
Global forecasting firm Oxford Economics on Monday revised downwards its India GDP growth forecast for 2021 to 10.2 per cent from 11.8 per cent previously, citing the country's escalating health burden, faltering vaccination rate and lack of a convincing government strategy to contain the pandemic. Oxford Economics also said that notwithstanding the likelihood of further mobility restrictions, it expects India's targeted lockdown approach, less stringent restrictions, and resilient consumer and business behaviour to mitigate the economic impact of the second wave.
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