The advent of internet of things, blockchain, data analytics, artificial intelligence, and self-driving cars has also created huge business opportunities for online training platforms such as Udacity and Coursera.
Technology start-ups that got listed in the last few quarters reported a hit to their December-quarter (Q3FY22) profitability due to higher marketing and employee costs. While fintech firms Paytm and PB Fintech saw their losses widen by 45 per cent year-on-year (YoY) to Rs 778 crore and 55 per cent to Rs 295 crore, respectively, food delivery company Zomato remained in the red despite narrowing its net loss by 81 per cent to Rs 66 crore. Meanwhile, online fashion and beauty products seller Nykaa saw its net profit drop 59 per cent to Rs 28 crore in Q3FY22.
The company, however, posted a marginal increase of 1 per cent in its consolidated revenue at Rs 29,584 crore
The sharp increase in commodity prices on account of the Russia-Ukraine war has put automakers in a fix. After the frequent price hikes in the current fiscal, manufacturers fear that any more price increases may further dent the already weak demand in certain segments. "We have taken several hikes and cannot immediately do it again. "We will have to closely watch the situation and act accordingly," said an official at an auto firm, declining to be identified. Even for companies like Tata Motors Passenger Vehicles, which has had a strong volume run and a robust order book, passing on the entire costs has been tough.
An analysis of past 20 years' demand cycles done by Edelweiss Securities indicates that the auto sector is currently in the middle of a down cycle. Volume recovery, they say, is unlikely to be as sharp as in the past, unless there is strong fiscal support.
Revenue grew by 31.4 per cent to Rs. 10,797 crore.
On an average most commodities are up between 20-30 per cent compared to a year ago levels.
Private hospitals, especially smaller standalone ones, are staring at a crisis that they were not prepared for. Analysts say larger corporate chains have to brace up for at least six months for business to return to normal.
The company had posted a net profit of Rs 377.97 crore (Rs 3.77 billion) in the same period of previous fiscal.
JP Morgan has downgraded the Indian information technology sector to 'underweight' as it believes the heydays of the sector are over. Rising margin headwinds in the near-term and the revenue headwinds in the medium-term from a potential macro slowdown, Ankur Rudra and Bhavik Mehta of JP Morgan said in the report, will mean that the sector's earnings upgrade cycle is behind. "We see peak revenue growth behind us and earnings before interest and taxes (EBIT) margins trending down from inflation, mean revision.
The Reserve Bank of India (RBI) on Friday kept the key repo rate unchanged at 4 per cent in view of rising inflation and faint signs of economic growth amid the gradual lifting of coronavirus related countrywide lockdown.
Commercial banks in the country continued with their improving asset quality trend in the October-December 2021 quarter with slippages remaining under control coupled with healthy recoveries and upgradation of asset classification. The 28-listed banks reported improvement in bottom line with net profits rising 64.1 per cent year-on-year (YoY) and 21.5 per cent sequentially. This is mostly on account of a fall in provisions and contingencies.
Private sector lender HDFC Bank on Monday reported a net profit of Rs 464.35 crore (Rs 4.64 billion) for the first quarter ended on June 30, against Rs 321.23 crore (Rs 3.21 billion) in the corresponding period a year-ago.
The government clarified that the majority of industrial establishments had reported nil production, and cautioned that the numbers should not be compared with those of previous months. "It is not appropriate to compare the IIP of April 2020 with that of earlier months, and users may like to observe the changes in the IIP in the following months," said the ministry of statistics & programme implementation.
'Q1 is going to bear the brunt of the second wave, exposing full-year GDP forecasts to downward revisions, unless phase-3 of vaccination is executed quickly.'
Lenders can now initiate recovery proceedings since the SC has lifted the standstill on asset classification, which protected stressed accounts from slipping into NPAs.
As the second wave of the Covid-19 pandemic abates, India's automakers are hopeful of a quick recovery in sales volumes, led by better rural sentiment, low interest rates, improved availability of finance and a gradual uptick in business and economic activity. In fact, companies have started to ramp up production already, encouraged by high order books and the growing preference for private transport in both rural and urban areas as a means to avoid infections. In early April, the industry had been bullish as the sales trend for March showed that the effects of the Covid-19 pandemic had been left behind. The total vehicle sales had grown by 77 per cent, albeit on a lower base, and for the past few months, sales had consistently touched 300,000 units per month.
A slowdown in India's growth rate, the bank said, has also affected the growth rate of South Asia. As a result, South Asia has fallen to second place after East Asia and the Pacific.
'RBI is already late in addressing inflation pressures.'
Industry players said they were indeed seeing a serious fall in capacity usage, though some sectors were seeming to prevent further fall in the overall capacity utilisation.
Check out some of the stocks that will react on the basis of their numbers in the near term.
Reliance announced a rights issue of Rs 53,125 crore, which it said was the biggest in India.
Post-cessation, activities related to the safe shutdown of the field are underway.
A look at six indicators shows all of them have collapsed from positive growth in April to contraction in September.
'I cannot cope with the demand. It will take us a couple of months to ramp up production.'
Industrialists affirm their belief that the adverse effects of demonetisation and the goods and services tax are finally over.
State-run Oil and Natural Gas Corporation on Monday announced a net profit of Rs 6,636.33 crore (Rs 66.36 billion) in the first quarter ended June 30, a 43.94 per cent growth from that in the corresponding period a year-ago.
Sensex ended up 190 points at 25,519 and Nifty climbed 57 points to end at 7,626.
'The mismatch between valuations and fundamentals is startling,' warns Devangshu Datta
'We don't expect any immediate impact on salaried jobs.'
RBI in wait and watch mode as several risks to inflation continue to exist including a sudden reversal of food prices and oil price volatility.
India's economy recovered faster than expected in the September quarter as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 per cent and held out hopes for further improvement on better consumer demand. The gross domestic product (GDP) had contracted by a record 23.9 per cent in the first quarter of the 2020-21 fiscal (April 2020 to March 2021) as the coronavirus lockdown pummelled economic activity.
The employment situation remains dire. Whatever can be done to promote greater low-skill employment should be pursued aggressively, advises former chief economic adviser Shankar Acharya.
The company's profit stood at Rs 292.79 crore (Rs 2.92 billion) in the year-ago period.
YES Bank, Bank of Baroda, SBI, IndusInd Bank, and RBL Bank are amongst the banks, Jefferies says, are most prune to "high risk" emanating from ADAG, Cox & Kings, CG Power, DHFL and Essar Shipping.
Index heavyweights ITC was the top gainer along with RIL and HDFC
It has been a slow 2022 thus far for the primary markets. In the last 8 months, only 16 companies have raised Rs 40,311 crore via the initial public offer (IPO) route, data from PRIME Database suggests. In comparison, 63 companies had raised a cumulative Rs 1.18 trillion via the IPO route in 2021. A large part of the funds raised in 2022 were on account of the two IPOs - Life Insurance Corporation of India (LIC) and logistics firm Delhivery - that raised a total of over Rs 26,000 crore between themselves.
The retail inflation, which is factored in by the RBI to arrive at its monetary policy, has been on decline since last month. The previous low was 5.54 per cent in November 2019. The government has asked the RBI to restrict the inflation around 4 per cent, with a margin of 2 per cent on the either side.
Financial shares were among the top gainers with HDFC leading the gains.
The breakdown of talks between Greece and its international creditors raised fears of Greece's exit from the euro zone.
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