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 daily positivity rate was recorded at 6.91 per cent while the weekly positivity rate was pegged at 3.67 per cent.
India logged 157 new coronavirus infections, while the active cases increased to 1,862, according to the Union health ministry data updated on Friday.
But Indians work less than smaller countries with small populations like Bhutan, the Congo, Lesotho and Gambia.
The general elections in April/May 2024 are expected to add volatility to the Indian markets, keeping investors on their toes.
The economy is expected to throw up better numbers in the September quarter with GDP contraction of 9.9 per cent, as against 24 per cent in Q1 at the onset of the pandemic, says a report. The government will release the Q2 GDP numbers later this month. In the first contraction since 1980, the economy shrank a full 23.9 per cent in the first quarter of the fiscal after the whole nation was put under a strict lockdown.
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.
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.
The world has recognised India as a bright star as the country is recording healthy economic growth despite global uncertainties, finance minister Nirmala Sitharaman said on Wednesday. India's growth at 7 per cent in the current fiscal is the highest among major economies and the Indian economy is on the right track, she said in her Budget speech.
Global rating agency Fitch on Friday pegged India's growth at 5.5 per cent in the current fiscal and 6 per cent in 2015-16 and affirmed the country's rating outlook at stable level.
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.
Images from the 3rd ODI between India Women and Australia Women at the Wankhede Stadium in Mumbai.
A total of 2,208 cases were recorded on October 28 last year.
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.
India logged 1,890 new coronavirus cases, the highest in 149 days, while the active cases increased to 9,433, according to the Union health ministry data updated on Sunday.
The death toll due to the viral disease has gone up to 5,30,824 with six more fatalities -- three reported from Maharashtra and one each recorded in Karnataka, Rajasthan and Uttarakhand, according to the ministry's data updated at 8 am.
India logged 1,300 new coronavirus cases, the highest in 140 days, while the active cases have increased to 7,605, according to the Union health ministry data updated on Thursday.
The death toll rose by three to 5,30,753 with Uttar Pradesh reporting two fatalities and West Bengal recording one, the data updated at 8 am stated.
The 28-year-old has had to deal with his share of injuries since making his international debut back in 2017.
The SBI report, however, said the economic growth rate will pick up pace in 2020-21 to 6.2 per cent.
The toll has climbed to 5,31,091 with 27 deaths recorded in the last 24 hours.
While three deaths each were reported from Delhi and Rajasthan, two each were from Chhattisgarh and Punjab and one each from Himachal Pradesh, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha, Puducherry, Tamil Nadu, Uttarakhand and Uttar Pradesh besides nine reconciled by Kerala, the data updated at 8 am stated.
A total of 3,375 cases were recorded on October 2 last year.
Choppers belonging to the Western Air Command carried out over 50 sorties over the last 48 hours, rescuing over 780 citizens in the flood-affected areas of Kangra district in Himachal Pradesh, Indian Air Force officials said.
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).
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.
Images from Day 3 in the first Test between South Africa and India, at SuperSports Park, Centurion, on Thursday.
Bangladesh might not look too threatening in the World Cup but their record against the Proteas
The average ticket size (ATS) of all transactions on United Payments Interface (UPI) in H1 2023 was pegged at Rs 1,604, marking a 10 per cent decline, compared to Rs 1,774 in H1 2022, according to data from Worldline India's Digital Payments Report. The reduction in the overall ATS on UPI is a good sign, suggesting a deeper embedding of UPI as it is being used for smaller or micro-transactions, and the dip is driven by the growth in person-to-merchant (P2M) transactions, the report said. The ATS of P2M transactions dipped 21 per cent from Rs 839 in H1 2022 to Rs 659 in H1 2023.
One of the major contributors for the decline in growth will be the monsoon deficiency, which also affects non- agricultural sectors through demand effects, RBI report said.
Skipper Rohit Sharma led India's rapid reply and Virat Kohli ended with an unbeaten 103, hitting a six to reach his hundred and secure India's win with 51 balls to spare.
With today's success, Indian shooters have so far won four gold, four silver and five bronze medals.
A muted revenue performance in the September quarter and weak management commentary weighed on the stock of consumer major Marico which shed 8.5 per cent to Rs 542 from its intraday highs on Tuesday. The company indicated that demand trends were similar to that of the June quarter with instances of increasing food prices and below-normal rainfall distribution in some regions impeding the anticipated recovery in rural demand.
South Africa broke their 24-year World Cup jinx against Pakistan with a nervy one-wicket victory and inched closer to securing a semi-final place with their fifth win in six matches.
India played the tournament's best cricket for nearly six weeks but it was the familiar sight of Australia celebrating with the trophy as fireworks exploded overhead when the 13th edition of the World Cup came to a close on Sunday.
India has logged 5,335 fresh coronavirus cases, the highest in 195 days, while the active cases have increased to 25,587, according to Union health ministry data updated on Thursday.
The initial public offering of the country's largest insurer LIC will open on May 4 and close on May 9, sources said. The IPO, through which the government will sell 3.5 per cent stake in state-owned Life Insurance Corporation (LIC), will fetch Rs 21,000 crore to the exchequer. The IPO values LIC at Rs 6 lakh crore.
A division bench of Justices Vibhu Bakhru and Amit Mahajan set aside the single judge's December 24, 2019 order pegging the value of the property at Rs 130 crore.
With the assembly election results throwing up surprises, most exit polls got the outcome in Chhattisgarh and the scale of the Bharatiya Janata Party's win in Madhya Pradesh wrong.
The government plans to borrow a record Rs 15.4 lakh crore from dated securities in FY24 to meet its expenditure requirement to prop up the economy.
