Over the past four quarters, the Sensex companies' earnings trajectory has improved sharply because of a weak rupee.
'There is a need for an innovation sandbox where the PSBs can collaborate and then they can do their own innovation on top of it.'
Moody's Investors Service on Wednesday affirmed the ratings of two major Indian IT services companies, Tata Consultancy Services Limited (TCS) and Infosys. In two separate statements, Moody's also retained stable outlook for both the companies. Moody's expects Infosys' revenues to climb by around 13 per cent for the financial year ending March 31, 2023, but moderate to around 8 per cent in the next 2024 fiscal.
It has suggested OTTs be subject to the same security requirements that a traditional TSP has to adhere to.
Tata Consultancy Services (TCS), the group's biggest cash generator, overtook Vedanta to become the highest dividend payer in India in FY23. The IT services major paid Rs 42,090 crore for FY23, up 167.4 per cent from Rs 15,738 crore for FY22. The 10 biggest payers together shelled out Rs 2.06 trillion for FY23, more than double the Rs 98,371 crore for FY22.
Telecom and petchem businesses will drive growth for RIL.
Anil Ambani will take over as the chairman of Pipavav Defence
Kotak Mahindra Bank was the biggest loser in the Sensex pack, sliding 2.68 per cent, followed by Tech Mahindra, Mahindra & Mahindra, Axis Bank, Hindustan Unilever, Tata Motors, Tata Consultancy Services, Bajaj Finserv, Bajaj Finance, Nestle and Titan. In contrast, NTPC, Power Grid, Larsen & Toubro, HDFC, Reliance and HDFC Bank were the gainers.
Markets were also weighed down by losses in index heavyweights Reliance Industries and Infosys.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
According to the report, the global economy is projected to strengthen this year, with growth picking up in developing countries.
Global energy supermajor BP plc on Thursday said it is about to open its first 'Jio-bp' branded petrol pump in partnership with Reliance Industries near Mumbai.
The Sensex jumped 412.23 points on Friday, braving heavy volatility during the day, amid the Reserve Bank of India maintaining status quo on the benchmark lending rate and buying in index heavyweights Reliance Industries Limited and ITC. The BSE Sensex climbed 412.23 points or 0.70 per cent to settle at 59,447.18. During the day, the benchmark hit a high of 59,654.44 and a low 58,876.36. The Nifty also gained 144.80 points or 0.82 per cent to finish at 17,784.35.
The company, which is bullish on its growth prospects, plans to double the gold coin sales from the current 1,000 kg by the end of the current financial year.
The five private DTH operators (Dish TV, Tata Sky and Sun Direct being the other three) are expected to add over six million new subscribers by the end of December, to take the overall subscriber base to over 17 million, a 57 per cent growth over December 2008.
India's richest man Mukesh Ambani celebrates yet another milestone todayhe turns 50!
Net sales rose 26 per cent but profit rose at a slower 22.7 per cent, as operating margins took a hit by 160 basis points, year on year.
The further expansion and upgrade of the Chinese military does not augur well for India, which continues to confront an increasingly belligerent China on its borders, notes former foreign secretary Shyam Saran.
With Mukesh Ambani taking over Network 18, the space for disseminating a diverse range of views could shrink, feels Paranjoy Guha Thakurta.
India's inclusion in JP Morgan's bond index can channel billions of dollars into India. How will the government securities market handle it?
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Eleven start-ups completed a programme launched by Gennext Ventures.
Oravel Stays - which operates hospitality tech firm OYO - on Friday pre-filed its Draft Red Herring Prospectus with stock market regulator Sebi, sources said. Sources close to the company told PTI, OYO may launch its initial public offering (IPO) around Diwali this year. Unlike the traditional route where companies have to launch the IPO within 12 months from the Sebi approval, or final observation; in the pre-filing route, an IPO can be floated within 18 months from the date of Sebi's final comments.
Prime Minister Manmohan Singh has said that India's economic growth in 2008-09 is estimated to have fallen below 7 per cent and is likely to remain at that level in the current fiscal on the back of fiscal and monetary initiatives.
Reserve Bank Governor Shaktikanta Das on Wednesday said underlying economic activity in India continues to be strong, but external factors will cause some "dent" to the economy. Speaking at the BFSI Insight Summit 2022 organised by Business Standard, Das said the RBI tracks 70 fast moving indicators and most of them are in the "green box". It is the external sector, mired by a fear of recession or clear visibility about slowing growth in a large part of the world, where the challenges lie, he said, adding that the impact of external demand will "dent" the economy.
The company's net profit was Rs 5,972 crore in the same period of 2014-15 fiscal.
Stating that the forthcoming elections will delay the reform process and hurt growth, international rating agency Moody's on Monday said it expects growth to pick up to only 5.5 per cent in FY15.
HDFC chairman Deepak Parekh on Friday exuded confidence that the synergies between HDFC Bank and the group companies will deepen with the bank taking on the mantle of ownership of the group following the reverse merger likely to be effective from Saturday. As chairman of HDFC Ltd, Parekh in the last message to the shareholders said home loans will now be complemented with HDFC Bank's core strengths -- its sales engine, execution capabilities at scale and deep insights on consumer behaviour. The reverse merger of parent HDFC Ltd with HDFC Bank is expected to be effective from July 1.
'We would like to develop Andhra Pradesh into a logistics hub not only for India, but also for South Asia.'
IMF said in 2017, India is likely to grow at the rate of 7.2 per cent instead of the earlier projected 7.6 per cent.
'Karnataka's finances are much healthier than the Union government's, which is indebted to nearly twice the extent of the state.'
Repeat business from existing clients is not coming easily and companies are still in the process of building digital capabilities
Equity benchmarks shrugged off lacklustre global cues to clock smart gains on Tuesday, buoyed by strong buying interest in index heavyweights Reliance Industries and HDFC twins. However, a depreciating rupee and unabated foreign fund outflows capped the gains, traders said. The 30-share BSE Sensex rallied 562.75 points or 0.94 per cent to settle at 60,655.72.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Weeks after it revised the rating outlook of two companies of embattled Adani group, S&P Global Ratings on Wednesday said it is watching for additional information on the conglomerate's governance and funding for any ratings action. Investors, it said, seek clarity on the credit impact of a string of allegations against the group in a short-seller report published in late January, and on the findings of a recently launched Supreme Court investigation. S&P Global published an FAQ-style commentary titled, "Adani Group: The Known Unknowns".
Fresh investments by corporates up just 5.8% in FY17, lowest since 1992
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