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.
Check out some of the stocks that will react on the basis of their numbers in the near term.
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.
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.
Reliance announced a rights issue of Rs 53,125 crore, which it said was the biggest in India.
A look at six indicators shows all of them have collapsed from positive growth in April to contraction in September.
Post-cessation, activities related to the safe shutdown of the field are underway.
'I cannot cope with the demand. It will take us a couple of months to ramp up production.'
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.
Industrialists affirm their belief that the adverse effects of demonetisation and the goods and services tax are finally over.
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.
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.
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.
'We don't expect any immediate impact on salaried jobs.'
'The mismatch between valuations and fundamentals is startling,' warns Devangshu Datta
Sensex ended up 190 points at 25,519 and Nifty climbed 57 points to end at 7,626.
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.
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.
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.
The company's profit stood at Rs 292.79 crore (Rs 2.92 billion) in the year-ago period.
Index heavyweights ITC was the top gainer along with RIL and HDFC
Financial shares were among the top gainers with HDFC leading the gains.
By the end of the June quarter, the top four - TCS, Infosys, Wipro and HCL Tech employed 10,15,000 employees - down by 9,144 employees over the previous quarter.
The breakdown of talks between Greece and its international creditors raised fears of Greece's exit from the euro zone.
Revenues rose 7.7 per cent to $1.54 billion during the review period, from $1.43 billion in the corresponding quarter last fiscal.
It has Rs 20,500 crore of standard stressed pool outstanding as of June 2018. Thus, the entire stressed book (net NPAs and standard stressed pool) is nearly two times its net worth.
Reserve Bank of India (RBI) Governor Shaktikanta Das on Thursday said the country's economy has recovered stronger than expected from the initial impact of the COVID-19 pandemic, but there is a need to be watchful of demand sustainability after the end of festivities. Speaking at the annual day event of Foreign Exchange Dealers' Association of India (FEDAI), Das said there are downside risks to growth across the world and also in India. It can be noted that the Indian economy contracted by 23.9 per cent in the first quarter of the fiscal year, and the RBI expects the economy to shrink by 9.5 per cent in FY21.
Investors turned cautious ahead of the US Fed meet outcome later today and July F&O expiry.
These are the highlights of RBI Governor Shaktikanta Das's statement and resolution of the Monetary Policy Committee (MPC):
Describing the recent two consecutive spikes in retail inflation beyond the 6 per cent as a 'transitory hump', a Wall Street brokerage on Monday said it expects the RBI to overlook it and unanimously stick to the dovish stance at the forthcoming policy review, even though a further upward revision of its already-revised inflation target is more likely. The Reserve Bank-led monetary policy panel is scheduled to announce the third monetary policy review on August 6, amidst the continuing spike in retail inflation that has breached the 6 per cent upper tolerance level for the past two consecutive months.
Indian companies are expecting generous tax incentives from the Union Budget that will help them invest more in building capacities in the coming years. While the productivity-linked incentives (PLIs) are a good start to spur local manufacturing, the government should also take steps to boost consumer demand, which is not showing encouraging signs, say chief executive officers (CEOs) of India Inc. Statistics released by the Reserve Bank of India (RBI) shows that Indian banks had sanctioned loans worth Rs 75,558 crore in 220 new projects - a record low - in the pandemic-hit financial year ending March 2021. This is not showing any signs of a significant pick up in the last nine months of the ongoing financial year.
'I remain optimistic that 2021 will be better than 2020 because we have visibility of vaccinations this year.'
Asia has opened largely in the green ahead of a raft of Chinese data due during the day.
'If you look at the order books of capital equipment companies or money deployed on the ground, there is forward movement in terms of actual investment by the private sector.'
FY22 will be the year to rebuild with the IMF projecting output growth at 11.5 per cent, economic survey at 11.0 per cent and the RBI's Monetary Policy Committee at 10.5 per cent.
While only 78.15 per cent of Jio's total subscriber base was active, Airtel boasts of 98.14 per cent active customers.
With the arrival of the second Covid wave in April, the numbers fell by almost 50 per cent.
Investors have turned cautious ahead of the policy meetings of central banks in Japan and the US
Factors like dedicated recovery teams, centralised follow-up on bad loan accounts and resolutions via NCLT are driving the trend
Private lenders HDFC Bank and ICICI Bank were the top gainers along with index heavyweights
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