Despite a higher CAD in the first quarter, capital inflows were broadly adequate to finance the current account gap, requiring only a marginal drawdown of foreign exchange reserves.
A round-up of Saturday's fifth round action in the FA Cup
Vandana Katariya scored from a penalty corner to help the Indian women's hockey team stun world number 3 Australia 1-0 in the FIH Pro League.
Zomato is at 5, Swiggy at 9, Blinkit at 10.
Reilly Opelka has called for chair umpire Greg Allensworth to be suspended by the ATP after he received a code violation at the Dallas Open for confronting a spectator in the stands who he claimed was deliberately coughing to interrupt his serve.
The finance ministry will have to rely on the weapons in its arsenal, since monetary policy is not providing the support.
The Reserve Bank is unlikely to cut the benchmark interest rate in its forthcoming bi-monthly monetary policy review later in the week as retail inflation is still a cause of concern, and there is a possibility of the Middle East crisis deteriorating further, impacting crude oil and commodity prices, say experts.
Images from Saturday's FA Cup quarter-finals.
Wipro Ltd on Wednesday reported a 9.6 per cent drop in its net profit in the second quarter, on lower earnings from clients in non-US markets. The company reported a net profit of Rs 2,649.1 crore in July-September quarter, compared to Rs 2,930.6 crore in the same period a year back, the company said in a statement. Revenues rose to Rs 22,539.7 crore in the quarter under review, from Rs 19,667.4 crore a year-ago.
Fresh order wins for capital goods and industrial companies may have seen a major slump due to Lok Sabha polls in the first quarter of the current financial year (Q1FY25). At the same time, revenue and profit growth trajectory is expected to have stayed the course, according to brokerage firms. Elara Capital, Motilal Oswal, and InCred Equities expect this sector universe to report a 12- 21 per cent growth in revenue, 21 -36 per cent growth in Ebitda and 24-38 per cent growth in profit on a year-on-year (Y-oY) basis.
The mutual fund industry continued with the positive momentum in the September quarter, attracting Rs 34,765 crore, although it was a massive reduction as against the Rs 1.85 lakh crore inflow in the preceding quarter, primarily due to withdrawal from debt segment. Most of the asset classes saw net inflows during the July-September period of the current financial year barring the fixed-income or debt segment, which witnessed net outflows. Overall, flows started on a strong note during the quarter under review, with net inflows of Rs 82,467 crore in July, which dipped to Rs 16,180 crore in August and ended with a disappointing Rs 63,882 crore of net outflows in September, according to a report by Morningstar India.
A round-up of Saturday's action in LaLiga, Ligue 1, Serie A and Bundesliga.
Tata Steel is in the process of filing a curative petition in the Supreme Court in connection with the apex court ruling which said that states have the power to levy cess on mining and mineral-use activities. The petition by the steel manufacturing firm is aimed at seeking remedy to the order, passed by a 9-judge Constitution Bench of the Supreme Court on July 25. However, Tata Steel's managing director and chief executive officer T V Narendran told Business Standard that there was no demand note on the firm.
Let reason, not emotion, guide your decisions.
India's merchandise exports dipped by about one per cent to $38.01 billion in December 2024 against $38.39 billion a year ago, according to government data released on Wednesday. Imports increased by 4.8 per cent to $59.95 billion in December 2024 compared to $57.15 billion in the year-ago month.
A round-up of Wednesday's UEFA Champions League last-16 first leg matches.
Bankers see a stronger possibility of a rate hike by the Reserve Bank of India in its January 2007 quarterly review following the high GDP growth in the second quarter of 2006-07.
Oravel Stays, the parent company behind the travel tech brand Oyo, is eyeing to clock Rs 100 crore in Q4FY24 profit after tax (PAT) and a 20 per cent revenue growth for FY24, according to informed sources. These numbers were part of an internal review meeting between founder Ritesh Agarwal and senior management earlier this week, where he spoke about the company's profitability trajectory and growth in business.
Erling Haaland became the third player in Champions League history to score five goals in a game as he led Manchester City to an unrelenting 7-0 rout of RB Leipzig in the second leg of their last-16 tie.
Suryakumar Yadav and Ajinkya Rahane's half-centuries powered Mumbai to 278/4 at stumps on Day 3, a commanding lead of 292 runs.
India Inc continued to grapple with muted revenue growth in the September 2024 quarter (Q2FY25) and witnessed a decline in margins and profits. The headwinds were especially severe for non-financial companies, while banking, financial services, and insurance (BFSI) firms significantly outpaced the rest of the corporate sector. The total profit of 1,353 listed companies that have released their Q2FY25 results thus far dropped by 0.6 per cent year-on-year (Y-o-Y) - the first cumulative earnings decline in eight quarters.
Operation Valentine follows the templates of similar Air Force narratives to deliver some rousing, harmless fun time, observes Arjun Menon.
The RBI under former governor Shaktikanta Das resisted pressures to cut interest rates through 2024 as it kept its 'Arjuna's eye' trained on inflation, but the central bank under a new detail-oriented head will soon have to take a call if it can continue sacrificing growth. Das, a career bureaucrat who in 2016 oversaw Prime Minister Narendra Modi's highly disruptive demonetisation move, left a lasting legacy as he demitted office towards the end of 2024 after expertly navigating monetary policy for six years, the highlight of which was steering India's recovery through the pandemic.
Ahead of the mid-quarter review of the monetary policy on December 18, RBI Deputy Governor Subir Gokarn on Saturday said inflation continues to be the primary concern for the central bank.
Most members of the Reserve Bank of India's monetary policy committee (MPC) decided to stick to the course on bringing retail inflation to the target of 4 per cent while voting for maintaining status quo in the April review, except external member Jayanth Varma who voted for a 25 bps cut in the repo rate. "I believe that the extant monetary policy setting is well positioned," RBI governor Shaktikanta Das said in the minutes of the policy review, which came out on Friday. "Monetary policy transmission is continuing and inflation expectations of households are also getting further anchored.
In a significant decision, the Securities and Exchange Board of India (Sebi) has decided to set up a panel to review all records maintained by auditors on the quarterly results of companies listed on the Bombay Stock Exchange 30-share Sensex and the National Stock Exchange 50-share Nifty.
The policy guidance marks a clear shift in RBI's monetary policy stance towards addressing growth risks while not de-emphasising the objective of containing inflation
A revival in investment activity, which is key to stimulating growth, depends particularly on the recent policy announcements by the government being translated into effective actions, Subbarao said while announcing the second quarterly review of the monetary policy.
Gold imports more than doubled in August to a record high of $10.06 billion, mainly on account of a drastic cut in customs duty and ongoing festive demand, according to the Commerce Ministry data. Gold imports stood at $4.93 billion in August 2023. On record high imports, Commerce Secretary Sunil Barthwal said that the tariff rates on gold have been reduced drastically so that smuggling and other activities can come down.
RBI wants to introduce these as an alternative to gold.
Announced at the second-quarter review of monetary policy, the move would make transactions at automated teller machines and point of sale terminals (PoS or merchant terminals) more secure.
Lakshya Sen mounted a remarkable comeback to become the first male Indian shuttler to qualify for the singles semi-finals at the Olympic Games.
RBI Governor Duvvuri Subbarao on Tuesday defended the bank's decision to keep the key policy rate unchanged saying inflation could rise to above 8 per cent in the near-term.
At close, the Sensex ended up 359 points at 20,929 and the Nifty ended up 120 points at 6,221.
'Gyanendra back on the throne would be bad news for the Nepali people. He may not have learnt from his experience, but we have.'
High inflation continues to be an obstacle in lowering policy rates as of now.
The RBI has changed the way it approached supervision in the past. Having seen a couple of collapses in the NBFC sector and the near-collapse of a few banks, it is focusing on regular drills to prevent a fire from breaking out, explains Tamal Bandyopadhyay.
Credit-to-deposit (CD) ratio of major public sector and private sector banks during the October-December quarter of FY24 inched up as compared to the previous quarter though government-owned lenders reported a lower rate than their private peers. CD ratio is the ratio of the funds that banks lend as compared to the funds raised in the form of deposits. The CD ratio of top public sector banks (PSBs) - State Bank of India, Punjab National Bank, Bank of Baroda and Canara Bank - was lower than their private counterparts.
The central bank increased provisioning to 2.75 per cent from the present 2 per cent because CDR cases are on rise. This rise will hit bottom lines of banks by around 4 per cent.
Starting today, Modi and top officials in the Prime Minister's Office will be briefed by various central ministries and departments on their plans as well as agenda for the next five years. They will also apprise the PMO of the work they have done so far in realising the agenda of government's second term in office.
