The Reserve Bank on Thursday said that the overall stance of its monetary policy for this fiscal would continue to accord a high-priority to price and financial markets stability and well-anchored inflation expectations.
The government will announce the FY13 GDP numbers on May 30, where it expects the readings to be around 5.2 per cent.
The major highlights from the deadline day as teams announced their retention list for IPL 2024.
A spirited Afghanistan upset Sri Lanka by seven wickets to continue their memorable campaign at World Cup 2023.
India failed miserably in all departments of the game as they suffered a comprehensive 38-run defeat against England in the first T20I of the three match series in Mumbai on Wednesday.
Images from the 3rd ODI between India Women and Australia Women at the Wankhede Stadium in Mumbai.
Reforms can be the game changer for poor and help economy goes back on growth trajectory.
The Indian Equestrian team won a historic bronze medal on debut at the Women's International Tent Pegging Championship at Wadi Rum in Jordan.
Nirma has roped in BCG and KPMG to advise it on the fundraising options for the acquisition. The company had earlier informed banks that it would raise Rs 5,000 crore to Rs 7,000 crore in the current financial year for the acquisition. Bankers said the company will rely on its funds and future GLS dividend to repay its debt for acquisition.
Indian economy has clocked a growth of 8.7 per cent in the first half of the calendar year. It said strong farm production will help drive economic recovery and also bring down food inflation, even though it said, 'inflation remains worrying.'
Rise in input costs, inventory write-off, and pricing pressures led to a drop in gross margins. Higher competitive pressures led to cuts in operating profit margins and earnings estimates for FY24 and FY25. Most brokerages have a 'neutral' or a 'reduce' rating on the stock on account of valuations.
The general elections in April/May 2024 are expected to add volatility to the Indian markets, keeping investors on their toes.
P2P platforms do not have the safety net. Instead of playing the role of an intermediary, if they run their own balance sheets for safety and growth, it's a recipe for disaster, warns Tamal Bandyopadhyay.
But Indians work less than smaller countries with small populations like Bhutan, the Congo, Lesotho and Gambia.
A career-best unbeaten 92 from new captain Mitch Marsh propelled Australia to a comprehensive 111-run victory over hosts South Africa in the first Twenty20 International in Durban on Wednesday.
The survey predicts that agricultural growth would contract by 1 per cent this fiscal, but the industry would grow by 8.5 per cent, and services by a smart 9 per cent.
Fund managers of large-cap and equity-linked saving schemes (ELSS) have demonstrated a marked improvement in their performance over the past year, according to the latest SPIVA (S&P Indices Versus Active) report released by S&P Dow Jones Indices. In the one-year period ending June 2023, 17 per cent of active large-cap schemes outperformed the S&P BSE 100, compared to just 9 per cent at the end of June 2022. In the case of ELSS, there was a sharp improvement in performance, with 66 per cent of active schemes delivering better returns than the benchmark S&P BSE 200.
It said the recovery is constrained by ongoing human and economic cost of Covid-19 pandemic and negative impact of food price inflation on private consumption. The report said India, which experienced a contraction of 7 per cent in 2020, showed a strong quarterly growth of 1.9 per cent growth in the first quarter 2021 on the back of the momentum of the second half of 2020 and supported by government spending in goods and services.
The total number of unique investors directly investing in the stock market has surged to 80 million for the first time, with the latest 10 million additions taking place in just eight months, according to data shared by the National Stock Exchange (NSE), the country's largest bourse. "The 80 million unique PAN (permanent account number) investors correspond approximately to around 50 million unique households in India amounting to around 17 per cent households directly investing in the Indian stock market via NSE's extensive nationwide network of trading members," said the exchange. In 2021, the number of domestic households were pegged at 300 million.
He was speaking to reporters on the sidelines of a conference organised by the Madras School of Economics.
Even after the government data showed a sharp fall in FY12 growth numbers and the April factory output data at a poor 0.1 per cent, a leading economic think tank on Thursday said it expects a revival in fortune and pegged GDP growth for the current fiscal at 7.3 per cent.
Images from Day 3 in the first Test between South Africa and India, at SuperSports Park, Centurion, on Thursday.
India has logged 7,178 new coronavirus infections, while the active cases have dipped after 69 days, according to the Union health ministry data updated on Monday.
The country's GDP is likely to grow at 1.3 per cent in the fourth quarter of 2020-21 and may see a contraction of around 7.3 per cent for the full financial year, according to an SBI research report 'Ecowrap'. The e-National Statistical Office (NSO) will release the GDP estimates for the March 2021 quarter and provisional annual estimates for the year 2020-21 on May 31. "Based on our 'nowcasting model', the forecasted GDP growth for Q4 would be around 1.3 per cent (with downward bias) as against NSO (National Statistical Office) projection of a negative (-)1 per cent," the research report said.
India launched their home World Cup campaign with a six-wicket victory over Australia after Virat Kohli and KL Rahul guided them through a jittery run chase on Sunday.
Canada has evacuated a majority of its diplomats working in India outside of New Delhi to either Kuala Lumpur or Singapore after it gave Ottawa an October 10 deadline to reduce its diplomatic staff to achieve parity in strength following a row over the killing of Hardeep Singh Nijjar, according to a media report on Friday.
The industry chamber also pegged the current size of the retail industry at only $16 billion, while Indian Council for Research on International Economic Relations had put the size of the Indian retail industry at $322 billion in 2006-07. The chamber in its paper on 'Retail Scenario in India and Its Related Issues' said that with the increasing size of the industry, space requirement would also increase to over 220 million square foot.
Fraudsters in Himachal Pradesh minted a series of a cryptocoins -- two of which were KRO and DGT -- to cheat thousands of investors of more than Rs 200 crore over a period of five years, beginning in 2018 -- the year the crypto reached fever pitch.
Global ratings agency Standard & Poor's on Thursday pegged India's FY'14 GDP growth at 6.4 per cent, one of the most optimistic estimates among analysts, and said it may upwardly revise outlook on the sovereign rating if the government continues to focus on policy initiatives.
The brokerage said the consolidated fiscal deficit, including that of the Union (3.6 per cent), the states (2.6 per cent) and the off-budget borrowings which are being resorted to increasingly is a worry.
A major fire broke out on the sets of TV serial Gum Hai Kisikey Pyaar Meiin in Film City, Mumbai, on Friday afternoon, an official of the Brihanmumbai Municipal Corporation said.
The country's real GDP growth in the first quarter will be better than the Reserve Bank's estimate of 8 per cent, economists said on Tuesday. Economists at the country's largest lender SBI pegged the growth at 8.3 per cent while domestic rating agency Icra estimated it to come even higher at 8.5 per cent. The Reserve Bank of India (RBI), which expects the GDP to grow at 6.5 per cent in FY24, has estimated a growth of 8 per cent in the April-June period.
Australia blanked England while South Africa and Bangladesh showed their bowling prowess with mighty wins over Zimbabwe and USA respectively. In the 16th-place play-off, Afghanistan fought off a spirited USA side to win a low-scoring thriller.
The daily positivity rate was recorded at 4.39 per cent and the weekly positivity rate was pegged at 5.1 per cent.
Backed by investment activity and healthy performance of the services sector, the economy is expected to grow at 6.2 per cent in 2004-05, according to Centre for Monitoring Indian Economy.
Economic think-tank NCAER on Wednesday pegged the gross domestic product growth at 6.5 per cent in this fiscal, which would accelerate to 7.4 per cent in 2005-06 if government carried out far-reaching reforms.
Smarting from their nine-wicket thrashing by New Zealand in the tournament opener, England amassed 364-9 after their top order fired with Malan forging century-plus partnerships with Jonny Bairstow (52) and Joe Root (82).
Bangladesh might not look too threatening in the World Cup but their record against the Proteas
However, the SBI report said it will take almost seven-quarters from Q4 FY21 to reach the pre-pandemic level in nominal terms and there will be a permanent output loss of around 9 per cent of GDP.
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