Total investments in the first six months of 2017 was a record $11.34 billion
Quarterly earnings from IT majors Infosys and Wipro, macroeconomic data announcements and global cues would be the major drivers for the equity markets this week, said analysts. Leading IT companies Infosys and Wipro and other players such as Mindtree, Tata Elxsi and HDFC AMC would announce their financial results this week. Moreover, industrial production numbers, retail and wholesale inflation data would be released this week.
The key risks against a fast recovery would include long delays in business travel resumption, delays in commissioning, etc.
Impacted by price pressure and other factors, the country's largest biotech firm, Biocon, on Wednesday reported that its net profit had plummeted 20 per cent to Rs 39 crore
Tata Motors on Monday launched the country's first CNG truck in the medium and heavy commercial (M&HCV) vehicle segment in the 28- and 19-tonne nodes. Most truck makers, including Tata Motors, currently offer CNG only in the small and light commercial vehicle segments. The company also launched a fleet of seven trucks in the intermediary and light commercial vehicle (I&LCV) segment, meant for varied applications.
With three key subscription drivers -- F1, IPL and HBO -- gone, can Disney+Hotstar depend only on its chart-topping originals like Criminal Justice and Rudra: Edge of Darkness to hit both scale and profitability?
The recovery in the job market is still miles away as more redundancies and fall in hiring intentions in the public sector are expected even though the economy has come out of recession, says a survey.
After raising interest rate by a cumulative 250 basis points in 11 months, the Reserve Bank of India (RBI) on Thursday unexpectedly kept benchmark rate unchanged as global banking woes added uncertainty to the economic outlook. Five out of six members of MPC voted to remain focused on the withdrawal of accommodation to ensure inflation aligns with target while focusing on growth, RBI Governor Shaktikanta Das said on Thursday. The Monetary Policy Committee of the central bank decided to take a pause after a rate hike seen in previous six consecutive policies.
After outperforming the broader market and their public sector peers for the better part of the post-Lehman period, private sector banks - such as HDFC Bank, ICICI Bank, Axis Bank, and Kotak Mahindra Bank - are now underperforming. Last week, the Nifty Private Bank index was up just 6 per cent year-to-date in the calendar year 2021, against nearly 13 per cent rally in the Bank Nifty and a 15 per cent rise in the benchmark Nifty50. Public sector (PSU) banks, such as State bank of India, Bank of Baroda, and Punjab National Bank, are now rally leaders and outperforming the broader market. The Nifty PSU Bank index was up 42 per cent since the beginning of this calendar year. But on a longer term, the Nifty Private Bank index is up 101 per cent since March 2016, against a 118 per cent rally in the Bank Nifty and just 2 per cent rise in the Nifty PSU Bank index in the period.
Even as India's passenger-vehicle sales touched a record high of 3.9 million units in 2022-23, growing 27 per cent over the previous financial year, the country's largest carmaker, Maruti Suzuki India (MSIL), said on Monday uncertainties in the electronic-component supplies might affect production in FY24. MSIL said the shortage of electronic components had some impact on production in FY23. "The company took all possible measures to minimise the impact.
Industry players said IT hiring was not as strong as it was in 2022. One reason is the high bench IT firms have due to earlier hiring.
Grasim Industries Ltd, an Aditya Birla group flagship company, has posted a 68 per cent rise in its net profit at Rs 219.2 crore for the first quarter ended June 30, 2004 as against Rs 130.5 crore in the corresponding quarter last fiscal.
Rentals of prime offices in Bengaluru and Mumbai fell 8 per cent and 6.2 per cent, respectively, during January-March 2021 as compared to the year-ago period, according to a Knight Frank report. In its Asia-Pacific Prime Office Rental Index Q1, 2021 report, the consultant said the prime office rents in the national capital region (Delhi-NCR) declined by only 1 per cent during January-March this year as against the same period of 2020.
Maruti Udyog on Monday said its net profit soared by 42.1 per cent to Rs 170.9 crore during the quarter ended June 30, 2004 against Rs 120.2 crore during the year-ago period, buoyed by a 19 per cent jump in sales volume.
Leading automakers Maruti Suzuki India, Hyundai and Tata Motors reported a double-digit increase in dispatches to dealers in April as the demand remained robust especially for the sports utility vehicles. The country's largest car maker Maruti Suzuki India (MSI) said its domestic passenger vehicle wholesales rose 13 per cent to 137,320 units last month as against 121,995 units in April 2022. Sales of mini cars, comprising Alto and S-Presso, fell 18 per cent to 14,110 units as compared with 17,137 units a year ago.
Ashish Narsale/Rediff.com takes a look at OnePlus's latest offering.
The country's current account deficit is likely to hit a three-year high of 1.8 per cent or $43.81 billion in FY22, as against a surplus of 0.9 per cent or $23.91 billion in FY21, a report said on Thursday. According to an assessment by India Ratings, the Current Account Deficit (CAD) has moderated to $17.3 billion or 1.96 per cent of GDP in the fourth quarter of FY22 as against $8.2 billion or 1.03 per cent in the year-ago period, and massively down from $23.02 billion or 2.74 per cent in Q3, which was a 13-quarter high. The improvement in the key numbers are due to the remarkable improvement in merchandise exports in FY22, when it grew 42.4 per cent as against a negative 7.5 per cent in the pandemic-hit FY121.
Tata Motors posted robust results for the June quarter, defying market forecasts and registering a 58 per cent rise in net profit for the period.
Its revenue from operations grew 2.5 per cent to Rs 13,977.7 crore
"The Board in its meeting... has considered, approved and recommended a bonus issue of one equity share for every equity share held and a stock dividend of one American Depositary Share (ADS) for every ADS held, as on a record date to be determined," the company said in the regulatory filing.
Mark-to-market losses, oil & gas companies drag profits; sales growth moderates
Revenue up 15.8% at Rs 34,261 crore over year-ago period.
Propelled by robust growth in trade and telecommunication, finance and manufacturing, GDP grew by 5.7 per cent to Rs 3,28,837 crore during the first three months of the year 2003-04, even as there was slowdown in agriculture, mining and quarrying.
Competitive intensity has returned to haunt the telecom sector.
Most companies reporting an improvement in operating margins in Q1 as they cut ad spends and other expenses.
Gas Authority of India Ltd on Monday reported a 18 per cent increase in its net profit to Rs 365.09 crore
Associated Cement Companies has reported a 122% increase in net profit at Rs 44.14 crore (Rs 441.4 million) for the quarter ended June 30, 2003 as against Rs 19.84 crore (Rs 198.4 million) of the last fiscal.
Net profit stood at Rs 123.2 crore (Rs 1.23 billion) during the quarter ended June 30, 2003 over Rs 11.5 crore (Rs 115 million) during the year ago period, a company statement said.
CREDAI-MCHI, a body of developers in Mumbai, has pegged the drop in sales booking at around 80 per cent in the February-March period this year. This is the second highest fall in residential sales in the past five years, after Q1, 2017, when the decline, due to the note ban, was 37 per cent.
Analysts had on average forecast a net profit of 23.21 billion rupees, according to Thomson Reuters data.
Growth in Apr-Jun collections falls to 4.9% from 19%.
Asea Brown Boveri has posted a 41 per cent increase in net profit to Rs 8.75 crore (Rs 87 million) for the first quarter ended March 31, 2003 when compared with Rs 6.20 crore (Rs 62 million) for the corresponding quarter last fiscal.\n\n\n\n
Yes Bank CEO said the private lender is disposing some of the properties in many other cases as well. He, however, declined to elaborate on borrowers against whom such action was underway.
Across the world, there are around 150 trials on 5G currently going on and India has lagged behind. The government has now formed a committee which will look exclusively at developing a model for conducting 5G field trials, reports Kiran Rathee.
The pharmaceutical industry is expected to continue with its good performance in the first quarter of 2008-09 with over 25 per cent growth in revenues and about 45 per cent rise in net profit riding on better sales in the domestic and export markets. The industry will gain from the the depreciation of rupee as well.
India Inc's order-books swelled to Rs 37,666 crore (Rs 376.66 billion) in the first quarter of the financial year 2008-2009, up 93 per cent from Rs 19,520 crore (Rs 195.2 billion) for the same period last year. In the fourth quarter of 2007-08, the order-book had increased by 121 per cent to Rs 42,545 crore
Consolidated net sales shot up by 6.87 per cent
Few earnings seasons are awaited with such trepidation as the one for the June 2008 quarter. With the markets in turmoil, the Street is looking to India Inc to bail it out.
The wholesale price-based inflation eased to 15.18 per cent in June on lower prices of manufactured and fuel items, even though food articles remained costly. The Wholesale Price Index-based inflation was at a record high of 15.88 per cent last month and 12.07 per cent in June last year. The WPI inflation in June has bucked the three-month rising trend but remained in double-digit for the 15th consecutive month beginning April last year.
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