Reliance Industries, the Tata group, Bharti Airtel and Aditya Birla are among Indian conglomerates that have hedged their revenue and costs linked to the US dollar, giving them financial cover as the rupee fell past 80 against the greenback on Tuesday.
India and China have already rejected the US' sanctions move.
Signals received from the government in the past one year reflect a state of utter confusion, says Abhishek Tripathi.
In the past 10 trading sessions, shares of the state-owned company have shot up more than 50 per cent.
While demand for hair care products is increasing in both rural and urban markets, urban consumers have proven to be more extravagant, reports T E Narasimhan.
Kirloskar Brothers Ltd (KBL), led by Sanjay Kirloskar, on Tuesday accused four firms under his brothers Atul and Rahul of trying to "usurp" its legacy of 130 years and trying to mislead the public, which has been refuted by the other side. As the family feud simmers, KBL in a letter to capital markets regulator Sebi claimed that recent press releases by Kirloskar Oil Engines Ltd (KOEL), Kirloskar Industries Ltd (KIL), Kirloskar Pneumatic Company Ltd (KPCL) and Kirloskar Ferrous Industries Ltd (KFIL) "have sought to usurp the legacy" of KBL. Also, they attempted to pass off the legacy and track record of KBL as that of their own, the letter said.
When he didn't respond (Mr Saver has lost count of how many relationship managers he has had in the past few years!), the gentleman landed up at his doorstep and started pleading with him to open fixed deposits with the bank, observes Tamal Bandyopadhyay.
The lack of a strong diversity policy on the part of companies, a limited pool of women candidates as well as socio-cultural factors contribute to their low numbers.
Equity indices gave up early gains to close in the red for the third session on the trot on Wednesday, weighed by selling in banking and finance counters amid inflationary pressures and persistent foreign fund outflows. A weak rupee and lacklustre global cues also kept buying sentiment in check, traders said. The 30-share BSE Sensex opened on a firm footing but failed to hold on the momentum, finishing 237.44 points or 0.41 per cent lower at 58,338.93. On similar lines, the broader NSE Nifty dipped 54.65 points or 0.31 per cent to close at 17,475.65.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
India owes Iran around $8.8 billion primarily on account of crude oil imports.
Petroleum Minister Dharmendra Pradhan was to give away the awards but he could not attend because he was travelling.
The attack did not result in any human losses, it said, adding that the remnants of the intercepted and destroyed ballistic missiles fell in separate areas around Abu Dhabi.
The Reserve Bank is expected to go for another rate hike of 0.40 per cent at the scheduled review of the monetary policy next week, a foreign brokerage said on Friday. The central bank's rate setting panel will follow it up with a 0.35 per cent hike in rates at the next review in August, or make it into a 0.50 per cent hike next week and a 0.25 per cent increase in August, to make the total quantum of rate hikes at 0.75 per cent, the report by Bofa Securities said. On May 4, the Reserve Bank of India (RBI) hiked rates by 0.40 per cent, and Governor Shaktikanta Das has already called a rate hike at the forthcoming review as a "no brainer" given the pressure to maintain its core mandate of inflation in the targeted band of under 6 per cent.
It said New Delhi increased its purchase of foreign exchange over the first three quarters of 2017 which does not appear necessary.
More capital flows will lead to greater trade flows between the two countries.
Air India, IndiGo, and SpiceJet have suspended flights to China and Hong Kong.
Aviation companies were in focus with all the three airliners SpiceJet, InterGlobe Aviation and Jet Airways adding in the range of 2% to 3% on the BSE
'You may see some movement indicating a simpler tax regime with less exemptions but with fewer tax rates making life simpler for taxpayers.'
However, the number of transactions declined to 76 in January-March this year from 110 in the year-ago quarter.
'We will celebrate Independence Day as usual, but not this celebration from August 15 to 22 (as sought by the Modi government).'
The Western world keeps talking, ratcheting up sanctions, the only thing it can do. The Russians march on to Kyiv and capture Zelensky and key members of his government as part of their 'de-Nazification' drive, predicts Shreekant Sambrani.
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) is the world's main banking messaging service which links around 11,000 banks and institutions in more than 200 countries, including India.
The Indian economy can grow if it is delinked from the slow growth in the West and the deceleration in China, says Ashok K Lahiri.
'The signal is crude oil prices will rise, I am cutting my subsidy. Be prepared, prices will rise.'
India has maintained communication with both Russia and Ukraine. It is time Narendra Modi steps up on the world stage and plays the role of peacemaker, suggests military historian Colonel Anil A Athale (retd).
China's debt is dangerously high at close to three times its GDP, with the ratio having nearly doubled in recent years, observes T N Ninan.
India's sourcing from China may not necessarily be for cost-effectiveness alone but also for the lack of domestic qualified bidders, technology or other know-how.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
If IOC is not allowed to run its own affairs, then we can see it close down in the next 10 to 15 years, warns Sudhir Bisht.
American cult bike maker Harley-Davidson on Tuesday launched two new motorcycles, Roadster and Road Glide Special, in India priced at Rs 9.7 lakh and Rs 32.81 lakh (ex-showroom Delhi), respectively. It also announced its fresh model line-up for 2017.
Retail inflation remained above the RBI's comfort level for the second consecutive month despite slipping slightly to 6.26 per cent in June while the factory output recorded a growth of 29.3 per cent in May, mainly on account of the base effect, the government data showed. The marginal slippage in the Consumer Price Index (CPI)-based inflation was noticed despite little firmness witnessed in the food inflation which inched up to 5.15 per cent in June from 5.01 per cent a month ago. Retail inflation based on Consumer Price Index (CPI) was 6.3 per cent in May 2021 and 6.23 per cent in June 2020.
Rating agency Crisil said corporates, especially those in the auto, aviation, consumer durables and oil sectors, will be "severely impacted" by rupee depreciation due to large overseas debt and limited hedging.
A government official said out that with hardly any economic activity, an immediate duty hike will not be productive and could be announced once the lockdown eases and demand revives.
Shaktikanta Das is a master of the finest balancing act who listens to all but takes his own decisions, discovers Tamal Bandyopadhyay.
With the world's worst pandemic outbreak scarring nascent economic recovery, the government may at the beginning of the unlock phase announce another stimulus package for the most hit sectors such as small business and self-employed, Bernstein said. The brokerage in a note said its macro index suggests a deterioration in economic activity during April/May. "Energy consumption has moderated, with power down over 4 per cent and oil consumption down over 16 per cent in May so far (all 2-year CAGR). "E-waybills are down 16 per cent, suggesting the impact of scale down in factory production for some product categories, owing to the shut down in retail outlets.
Reliance Industries Ltd, whose offering of rock-bottom tariffs shook up the telecom industry, is looking to repeat the feat in the green energy business, where its billionaire chairman Mukesh Ambani sees promise to outshine all existing growth engines in 5-7 years. Having pledged Rs 6 lakh crore on green energy, Ambani says RIL will scale up investments in this business which will start going live in the next 12 months. "Over the next 12 months our investments across the Green Energy value chain will gradually start going live, scaling up over the next couple of years," Ambani, chairman and managing director of RIL, said in the company's latest annual report.
Back-to-back droughts in India, the world's largest importer of edible oils and pulses, has boosted prices and made pulses attractive to Canadian farmers.
