Sensex in green, JSW climbs higher.
TCS CEO and MD Rajesh Gopinathan said the company believes the coronavirus impact has "bottomed out" and that TCS should now start tracing its path to growth.
The Consumer Price Index (CPI)-based inflation is now projected to be at 5.3 per cent for 2021-22 with risks evenly balanced. In its August policy, the central bank had estimated inflation to be at 5.7 per cent due to supply side constraints, high crude oil and raw materials cost.
The unprecedented rise in Covid-19 infections in the country, which many are terming as the second wave, has also resulted in a rise in Covid-related claims for general and health insurance companies as hospitalisations have gone up. The insurers have received more than a million Covid-related claims as of April, 2021. According to the data compiled by General Insurance Council, the reported claims total 1.014 million, amounting to more than Rs 14,800 crore.
Converts part of fixed salary component into variable one
A government report revealed that fake companies floated with fake addresses, issued fake GST invoices and generated fake e-way bills, with fake vehicle registration details without supplying any goods causing huge loss to the exchequer.
India's telecom sector has been through dizzying peaks, troughs, policy U-turns, court battles, brutal competition, and daily controversies. India could go back to a private sector duopoly with just Reliance Jio and Bharti Airtel surviving the mayhem. The third player, Vodafone Idea, could be history.
Reliance Jio and Bharti Airtel have enough capacity to absorb over 113.9 million Vodafone Idea subscribers who are on 4G if Vodafone Idea has to shut operations.
'We should look at is full year's growth rather than quarter numbers.'
Domestic tyre demand is seen to grow by 7-9 per cent over the next five years.
The escalating trade war between China and the US could be an opportunity for India.
Going forward, the February factory output may be impacted as several industries such as automobiles, technology, pharma and fashion have some exposure to imports of raw and intermediate materials from China.
It bounced back from the historic low of 41 recorded in the April-June quarter, during the initial days of the pandemic and lockdown.
'India is still a small market but whatever we do, we do it with full focus.'
'At this moment, investors should look for relative value within sectors and clear visibility (third-wave-or-not) on earnings delivery.'
UBS said RIL's $10 billion petchem capex by 2016 will drive 12 per cent volume CAGR.
'Airlines will need a war chest to deal with post-COVID economics.'
'Slower-than-anticipated recovery can be a bigger risk this time than a liquidity-driven event -- at least for India.'
PSU bank shares were the top gainers on hopes of a rate by the RBI on easing consumer inflation
Networking solutions giant Cisco will lay off up to 6,000 employees globally, including India, after it reported a marginal decline in profits and revenues for the fourth quarter.
The group firms reported combined losses of Rs 6,134 crore in FY19 against a net profit of Rs 5,414 crore a year ago. Excluding Vodafone Idea, the group reported a net profit of Rs 8,470 crore, down from a profit of Rs 9,582 crore a year ago.
Bulls might be on the rampage on Dalal Street but lofty valuations of the Indian equities present a reason for concern and the markets could perhaps witness up to 10 per cent correction, according to analysts. Benchmark indices have been on a record-breaking rally lately and August witnessed the stock market reaching many new highs. The BSE benchmark soared over 9 per cent last month.
Data released earlier by CAG shows capital expenditure by the Centre had contracted 9.2 per cent in Q2
A vast majority of borrowers are in the essential services' supply chain with tiny and micro businesses, and this has sprung back.
The RBI had on August 7 announced a five-member expert panel under former ICICI Bank chairman Kamath to make recommendations on the required financial parameters for recasting corporate loans.
Together, the top 10 business groups reported a pre-tax loss of Rs 19,342 crore during the January-March 2020 quarter, as against a profit before tax of around Rs 48,500 crore in the year-ago period and Rs 39,600 crore during the December quarter. While Vedanta was the worst hit. others included Aditya Birla, Bharti, Adani, Mahindra, and Tata.
Company's revenue growth is likely to be volatile going ahead
Progress of monsoon, investment trend by foreign investors and the movement of rupee against the dollar will also influence sentiment
Software firm iGate on reported a 19.42 per cent decline in its revenue at $44.8 million in the first quarter of 2009.
Finance Minister Nirmala Sitharaman will kick start the customary pre-Budget consultation exercise with stakeholders from Wednesday by holding the first such meeting with experts of agriculture and agro-processing industry. She will be seeking inputs from various stakeholders, including industry bodies, farmer organisations and economists for reviving consumption and boosting growth hit by the COVID-19 pandemic. The growth this year is expected to be in the double-digit during the current fiscal.
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 finance ministry will kick-start the exercise to prepare the Union Budget for financial year 2022-23 (FY23) from October 12, according to an official notification released on Monday. "The pre-Budget meetings as well as the meetings to discuss the revised estimates will start from October 12 and will continue till the second week of November," according to the Budget circular of the Department of Economic Affairs' Budget Division. The Union Budget is expected to be announced on February 1, as has been the practice of the past few years.
Key drivers of profitability for Zomato has not witnessed remarkable growth, the management believes the venture will turn profitable in the long term.
According to the study, the corporate space would witness a gradual but sure advent of aggressive hiring in the first quarter of FY 2010-11.
'67 per cent of our transactions happen digitally and about 93 per cent of transactions happen outside the branch.' 'Despite that, there is ample scope for promoting banking-related activities in branches.' 'So, for some time, we will have to, probably, live with the same structure.'
The Department of Telecommunications (DoT) has initiated discussions with banks to address financial stress in the telecom sector, particularly Vodafone Idea Ltd (VIL) that urgently requires fund infusion to stay afloat. There was a meeting of DOT officials and senior bankers on Friday on the issue of Vodafone, sources said, adding that banks have been asked to look for a solution within the prudential guidelines. According to sources, senior officials from the country's biggest lenders State Bank of India and Bank of Baroda were also present among others in the meeting. More such meetings are expected to take place in the coming days, they said.
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.
While the stress is lower than projections, it would be higher than what we saw last year because of the pandemic: Axis.
Credit card issuers saw significant erosion of their card base during the July-September quarter as the Reserve Bank of India's (RBI) norms mandated deactivation of cards that have been inactive for a year. The second quarter of the current financial year saw outstanding cards-in-force decline by 2.55 million to 77.7 million. Prior to this, the industry, on an average, was witnessing a net addition of over 1.5 million credit cards a month as players became aggressive on the unsecured lending business after the pandemic.
Bloomberg estimates revenue at Rs 25,328 crore, up 4.6per cent sequentially and EBITDA margin of 27.2per cent
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