The surge in wheat export from India owing to the Ukraine crisis has once again demonstrated how farmers in states that have flexible marketing frameworks and low taxes benefit more from an emerging situation. The bulk of the wheat exported from India, trade and industry sources say, is being sourced at rates significantly higher than the state-mandated price of Rs 2,015 per quintal in Madhya Pradesh (MP), Uttar Pradesh (UP), and Gujarat - states which have low mandi taxes compared to Punjab and Haryana. This is not only benefiting farmers there but could also lead to significant savings for the states in procurement costs in the months to come.
Chief Economic Advisor V Anantha Nageswaran on Thursday said the economy is expected to grow at 6.5 per cent in the current fiscal notwithstanding deficient rains in August. India recorded economic growth of 7.8 per cent in the April-June quarter of 2023-24 against 13.1 per cent in the year-ago period. India's economy in Q1 grew at the fastest pace in a year, on the shoulders of a boost in capital expenditure both at central and state levels, along with stronger consumption demand, especially in rural areas, and improved performance in the services sector, he said.
Avoid relying on a bank RM for investment advice. Instead, approach a Sebi-registered investment advisor whose livelihood depends on the fee paid by his customers and not on product commissions.
The remarks by Naidu in his last address as the country's Vice President came even as Telangana's ruling Telangana Rashtra Samithi RS said the welfare of poorer sections of society is not a freebie and that welfare measures taken by governments should continue.
Benefitting from the economic rebound, banks are expected to report a healthy bottom-line and asset quality profile in the quarter ended March 2023 (Q4FY23). The net profit of listed commercial banks is projected to grow by an average 43.6 per cent year-on-year (YoY) in Q4FY23 amid better net interest margins (NIMs) and declining credit costs. This is based on a combined assessment of analyst estimates for 17 banks on Bloomberg database.
Stocks of defence-related companies have been firing on all cylinders on the bourses in calendar year 2023 (CY23). Shares of Hindustan Aeronautics (HAL), Bharat Electronics (BEL), Bharat Dynamics (BDL), Data Patterns, MTAR Tech, Cochin Shipyard and GRSE have rallied in the range of 21-96 per cent so far this year. By comparison, the BSE Sensex is up 8 per cent. The gains have been sustained on the back of robust export opportunities, a healthy project pipeline and the government's continued push for local manufacturing and indigenisation of defence equipment.
Keep revising the sum insured at the time of renewal to keep it in line with inflation.
Political parties and individuals cannot be prevented from making poll promises aimed at fulfilling the constitutional mandate and the term 'freebie' should not be confused with genuine welfare measures, the Supreme Court said on Wednesday.
According to DMK, the voters are already consolidated on ideological lines, hence the impact of anti-incumbency, whether against the BJP Centre or the DMK state may not be too much, notes N Sathiya Moorthy.
From social engineering to bearing the cost of COVID-19 treatment to financial reconstruction of Tamil Nadu's debt the debutant chief minister is emerging as a leader with a difference, says Shjne Jacob
Five days after the induction of 18 ministers into his cabinet, Maharashtra Chief Minister Eknath Shinde on Sunday allocated portfolios, keeping Urban Development and 11 other ministries with himself, while giving the crucial Home Department to Deputy CM Devendra Fadnavis.
Cement companies witnessed speculative support from investors through FY23 amid hopes of a rebound. After capex announcements in the FY24 Budget, there was further interest due to expectations that government expenditure would boost earnings, besides a generic macro-recovery. Cement earnings were under pressure in FY22 and FY23 due to high raw material and fuel costs; muted demand prevented them passing on the higher cost.
The Securities Appellate Tribunal has stayed a Sebi order that barred Franklin Templeton's Asia Pacific head Vivek Kudva and his wife Roopa from the securities market for one year.
A study by eminent economists, by Jean Drze, Reetika Khera and Meghana Mungikar released few days back shows that more than 100 million people are excluded from the PDS because the central government insists on using 2011 population figures to calculate state-wise coverage under the National Food Security Act.
Investors are showing some interest in the downstream energy cycle. Refiners and marketers, especially the public sector (PSU) oil marketing companies (OMCs) could see a revival of marketing margins. Lower crude oil and gas prices may also improve margins in industries like paints, logistics, synthetic fabrics, plastics, and fertilisers. In the medium-term, however, there could be a supply overhang affecting OMCs as new refining capacities are scheduled to be commissioned, especially in China, and this may lead to a drop in the refining margins as capacity would be surplus to demand until and unless there's a pick-up in global growth.
Following a strong performance in the 2022-23 January-March quarter, publicly listed paint industry giants displayed a mixed performance in the 2023-24 (FY24) April-June quarter. While Berger Paints India outperformed its peers and reported results in line with expectations, market leader Asian Paints and Kansai Nerolac Paints fell slightly short of expectations.
The Supreme Court on Thursday assured the Centre and bodies like SEBI and RBI that it will take a decision by Friday evening on their plea seeking setting up a larger bench for modifying an earlier order restricting the voluntary use of Aadhaar card to PDS and LPG schemes only.
In the 2018 assembly polls, the Congress shocked the BJP by securing 30 of the 47 ST seats, proving that this vote bank has drifted away from the ruling party over some time. Sandeep Kumar reports.
Street gave a thumbs down to Aditya Birla Fashion and Retail (ABFRL)-TCNS Clothing deal as analysts flagged near-term profitability risks for ABFRL with its latest acquisition. At the bourses, shares of the Aditya Birla group company tumbled 6.2 per cent in the intra-day trade, before settling 3.27 per cent lower at R 207.2. Those of TCNS, meanwhile, plunged 20 per cent to end at Rs 416.64.
The Bill could be introduced in Lok Sabha very soon.
If a 5% to 10% fall in the equity market gives you sleepless nights, you are not cut out for a 75% to 80% allocation to equities and must reduce it.
The kerosene subsidy is expected to decline by 40 per cent from Rs 7,595 crore in 2016-17 to Rs 4,500 crore this financial year.
'If individual stocks start falling 25% to 30% or more, then I doubt how many of them will be able to withstand that (kind of selloff). That is when you'll see panic coming in.'
Bhupesh Baghel said about his father that he respected his father as a son, but as a chief minister, none of his mistakes that will disturb public order can be ignored.
A marginally lower stock of 21.04 million tonnes is to be maintained in the first quarter as on April 1 as against 21.2 million tonnes.
It was August 2007. Tata Steel was turning 100. Jamshedpur, its hometown, had an air of celebration. The line-up for the special event included the launch of Air Deccan's commercial flight connecting Kolkata and Jamshedpur, and release of Russi Lala's new book, Romance of Tata Steel. There was also the screening of The Spirit of Steel, a 20-minute documentary directed by Zafar Hai showcasing Tata Steel's legacy, and a corporate anthem penned by Javed Akhtar and composed by Shankar, Ehsaan and Loy.
Eying a prominent role in the next government at the Centre, the All India Anna Dravida Munnetra Kazhagam on Tuesday promised to extend populist schemes like distribution of free mixies, grinders, fans, milch cows and goats across the country in its Lok Sabha manifesto.
rediffGURU and financial planning expert Colonel Sanjeev Govila will answer your personal finance-related questions.
ONGC's January-March quarter results for the 2022-23 financial year (Q4FY23) indicated changes in the trends of the energy cycle as well as the impact of policy change in gas-pricing. The public sector oil and gas major reported standalone Ebitda (earnings before interest, tax, depreciation and amortisation) at Rs 16,340 crore, down 12 per cent year-on-year (YoY), and down 20 per cent quarter-on-quarter (QoQ). There was a net loss of Rs 250 crore due to exceptional items of Rs 9,240 crore for provisions related to the ongoing dispute regarding the applicability of service tax and goods and services tax on Royalty.
The march, which commenced from Nashik on March 6, will culminate in Mumbai on Monday and protestors plan to gherao the Vidhan Bhavan where the Budget session of the state legislature is underway, said organisers.
The move is being planned with a view to ensuring that the benefits provided by the government reach the beneficiaries and the process remains transparent.
As the Centre pushes reforms in the power sector, especially for the beleaguered electricity distribution segment, several states, especially those ruled by Opposition parties, are clamouring against it. Maharashtra, West Bengal, Tamil Nadu, and Kerela have voiced their reservations against the proposed amendments to the Electricity Act, 2003. The irony is the states opposing the amendments on the ground of threat of privatisation already have private partnerships in power supply. The proposed Bill was slated to be placed on the floor of Parliament in the Monsoon session. But it still awaits Cabinet approval amid several states complaining that they have been not consulted on the issue.
Later, there may be some tax relief aimed at the middle class and measures to benefit the sectors worst hit by Covid-19 and the resultant nationwide lockdown.
They said that massive public investment in infrastructure, social sectors and agriculture would generate employment and the Union Budget should give it a priority and allocate necessary funds for this.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries:
Rebalance your portfolio in case it has become overweight on equities vis-a-vis your strategic asset allocation.
On Easter, April 9, 10,000 BJP workers are being assigned to visit the houses of 100,000 Christian families. Plans are afoot to visit the homes of Muslims on Eid.
'UBI is a tricky subject.' 'Our worry is the government could get rid of UPA's social welfare schemes targeted at the poor.'
In its reply, the state government said reservation solely on the basis of religion is also contrary to the principles of social justice and the concept of social justice aims to protect those who are deprived and discriminated against within the society.
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