Lead indicators suggest that domestic current account deficit (CAD) is likely to reduce in 2023, while macro-economic stability has received a boost from inflation being brought back to the official tolerance band, according to the Reserve Bank of India's (RBI's) January 2023 Bulletin. "With the merchandise trade deficit reaching an all-time high of $83.5 billion in a quarter, and a rise in net outgo from the income account, the current account deficit increased to 4.4 per cent of GDP in Q2FY23," the State of the Economy article in the bulletin said. "It is noteworthy, however, that the CAD for Q1 was revised down from 2.8 per cent to 2.2 per cent on account of downward adjustment in Customs data.
The country's largest bank registered a consolidated net profit of Rs 4,448.15 crore in the same quarter last year.
Reserve Bank Governor Shaktikanta Das on Monday said despite the latest headwinds arising from the Jackson Hole summit leading to extreme volatility, our banking system and financial markets are strong enough to withstand such pressures. Taking the markets by surprise, US Fed chair Jerome Powell had told the annual Jackson Hole summit of central bankers and economists last week that he would have to keep raising federal fund rates to tame inflation, which remains the biggest challenge to the world's largest economy. He also warned of the pains that such monetary policy actions would create on growth and jobs.
The reason is believed to be a 19% increase in interest cost.
'We should look at is full year's growth rather than quarter numbers.'
RIL holds 45.43 per cent stake in RIIL as its promoter.
Housing sales mostly declined during the first and the second wave of the coronavirus pandemic but prices did not fall in most of the cities but rather increased in some cities, according to the Economic Survey 2021-22. The pre-Budget document also highlighted that the housing demand recovered after both the waves on the back of pent up demand, low interest rates on home loans and reduction in stamp duty by some states. The survey has analysed the National Housing Bank's data on change in housing transactions in Q1FY21 (first COVID-19 wave) and Q1FY22 (second COVID-19 wave) over the pre-pandemic levels of Q1FY20. It also looked into change in housing prices index during this period.
The bank's net profit fell to 2,232 crore for its fiscal first quarter to June 30.
The company's turnover dipped to Rs 64,990 crore.
Samsung shipped 83.2 million smartphones worldwide and captured 24 per cent market share
The economic growth slowed to a decade low of 5 per cent in the 2012-13 fiscal.
Lakshmi Mittal-led Mittal Steel reported on Wednesday a 43.7 per cent increase in its first quarter net profit, while beating its own forecast due to accelerated synergy generation from its $38 billion takeover of Arcelor last year.
The real estate sector might have been caught off guard by the second wave of the Covid-19 pandemic, but large listed developers like Godrej Properties and Prestige Estates Projects soldier on undeterred. They aim to have sales bookings of Rs 10,000 crore in the next few years.
The bank's gross non-performing assets rose to 10.69 per cent of total advances at the end of June, against 9.97 per cent a year ago.
The department of economic affairs, in its Monthly Economic Review for September, said critical reforms undertaken by the government will put India to a strong and sustainable growth path in the long run.
The rise in illegal imports of the yellow metal has caught the eye of the finance ministry.
Spurt in Infosys scrip was significant in sending the BSE benchmark Sensex higher by 119.15 points to 19,795.21 at 0925 hours.
New projects fell 6.3 per cent in the December quarter compared with the September quarter. The value of new projects in the just-concluded quarter was Rs 2.1 trillion, according to the data from Centre for Monitoring Indian Economy (CMIE), which was lower than the Rs 2.2 trillion seen in the September quarter. It is, however, higher than Rs 1.5 trillion recorded for the quarter ended December 2020, the first year of the Covid-19 pandemic. This data ties in with the November data for core sector growth, an index of eight core industries, which grew at its slowest pace since early 2021.
Fresh housing supply rose 43 per cent quarter-on-quarter across six cities during January-March to around 80,000 units, mainly driven by a revival in the demand for residential properties, according to proptech firm Square Yards. Technology-led real estate consultant Square Yards sells homes on behalf of builders and facilities home loans to consumers. In its report 'India Residential Overview: Jan-Mar 2022', Square Yards has covered Hyderabad, Bengaluru, MMR (Mumbai Metropolitan Region), Pune, Noida and Gurugram.
While there were Rs 7.01 trillion worth of new assets in December 2019, this fell 88.6 per cent to Rs 80,000 crore for the three months ending December 2020, shows data from project tracker Centre for Monitoring Indian Economy (CMIE), reports Sachin P Mampatta.
'... as has been happening in the last three weeks, then the foreign exchange reserves will not be comfortable to ensure that the rupee does not fall drastically.'
The total volume of government securities traded during the first quarter of this fiscal went up by almost 18 per cent to Rs 21,72,022 crore (Rs 21,720.22 billion) due to growth in securities transacted outright, especially dated papers.
The country's largest private sector telecom operator Bharti Airtel added 6,489 employees during the April-June period, taking its total headcount to 24,843 at the end of the first quarter of current fiscal.
The Japanese economy expanded by a healthy 5 per cent in the first three months of 2010, higher than the forecast, on increased consumer spending.
"It went up to 20-odd per cent in 2019 and to 25 per cent a year later. "That's when we decided to pull the plug; it was not sustainable for our business," says Chadha. Madison & Pike, instead, turned to Mumbai-based start-up Thrive, which provides third-party delivery services to restaurants at a much lower commission - three to five per cent.
Consumer confidence in India rebounded to reach its highest level in the first quarter of 2010, providing the most definitive sign that India is fast recovering from the economic downturn, according to the latest edition of the Nielsen Global Consumer Confidence Index.
Expenditure on new projects slowed down for the second quarter in a row amid an uncertain global environment and higher borrowing costs. There were new projects worth a cumulative Rs 3.26 trillion in the July-September period, according to data provided by project tracker Centre for Monitoring Indian Economy (CMIE). This figure is much less than Rs 4.39 trillion in the June quarter (Q1FY23) and Rs 8.46 trillion in the March quarter (Q4FY22).
The shipment of personal computer globally increased by 27.4 per cent to 84.3 million units in the first three months of 2010, according to preliminary results by IT research and advisory firm Gartner Inc.
Two sectors, fintech and media & entertainment, attracted 45 per cent of total funding by value, led by large ticket deals such as CRED and Dailyhunt.
Job creation in metals and automobile sectors declined by 0.04 lakh and 0.05 lakh, respectively.
What worked for Airtel was that its data traffic growth was 13 per cent sequentially and its average data usage was even higher than Jio's at 11.9 gigabyte per month per user.
The Value Added Tax system has no adverse impact on consumer prices, and revenue earnings under the new regime have shot up by 15.3 per cent during the first quarter of the current fiscal, Finance Minister P Chidambaram told the Rajya Sabha on Tuesda
The Reserve Bank of India on Friday raised the retail inflation target for the current financial year to 5.7 per cent on the back of rising global prices amidst the ongoing geo-political tensions, even as it expected the prices of cereals and pulses to soften on prospects of good winter crop harvest. "Global food prices along with metal prices have hardened significantly. "Economy is grappling with a sharp rise in inflation... Inflation is now projected at 5.7 per cent in 2022-23 with Q1 at 6.3 per cent; Q2 at 5 per cent; Q3 at 5.4 per cent and Q4 at 5.1 per cent," RBI Governor Shaktikanta Das said while unveiling the first monetary policy review for the current fiscal year.
Most rating agencies had projected contraction in India's GDP for the first quarter of 2020-21.
Adani Enterprises, the flagship company of the Adani Group, reported a profit after tax of Rs 557 crore for the first quarter ended June 30, 2014 on the back of a 43 per cent jump in revenue.
Nearly all the 43 economists surveyed over the past week expect the RBI to leave its key repo rate on hold at 8 per cent.
Geometric Software Solutions has lowered its profit guidance by 5-8 percentage points for the first quarter of current fiscal due to delay in many projects.
The fall in production of rice and oilseeds pulled down the growth in the agriculture sector to 2.9 per cent in the first quarter of the current fiscal, even as wheat and cotton output increased.
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