India's GDP may turn positive at 1.3 per cent in the third quarter of 2020-21, having witnessed contraction in the previous two quarters due to the coronavirus pandemic, as the number of cases is falling and public spending has started rising, according to a report. The government will release the GDP numbers for the October-December quarter of the current fiscal on Friday. Projecting that the gross domestic product (GDP) may have returned to the black in the last quarter of the calendar year 2020, DBS Bank in the report said the full-year growth in real terms may be at a negative 6.8 per cent.
Images from the Premier League matches played on Saturday.
The company had posted a consolidated net profit of Rs 453.55 crore (Rs 4.53 billion) in the same quarter last fiscal, Wockhardt Ltd said in a filing to the BSE.
Barcelona started strongly, with Gavi stinging the palms of Espanyol goalkeeper Alvaro Fernandez in the sixth minute, shortly before Alonso glanced a header into the net, following a corner.
The restrictions on gold imports will be reviewed by March end, Finance Minister P Chidambaram said on Monday.
India's consumer price index (CPI)-based inflation could ease in the coming months thanks to the arrival of kharif crops, lower international commodity prices, and a pass through of lower input costs to consumers, the finance ministry said in its Monthly Economic Review (MER) for October, which was released on Thursday. The MER, however, warned that the global macroeconomic situation remained precarious and a recession in many advanced economies would impact India's exports. "Easing international commodity prices and new Kharif arrival are set to dampen inflationary pressures in the coming months.
Olympic champion Neeraj Chopra, who had pulled out of two top events -- FBK Games in the Netherlands and Paavo Nurmi Games in Finland -- due to a muscle strain he sustained last month, has started training but is yet to recover fully.
The Indian team finished last in a five-team field to crash out of equestrian cross country after rider Ashish Limaye was eliminated in Hangzhou at the Asian Games.
Developers are cautious about the timing of launches in the near term, given the relative uncertainty in demand pick-up and logistical challenges during the lockdown. However, affordable housing projects slated for the first quarter (Q1) of 2020-21 (FY21) may get launched this quarter itself.
Retail inflation dipped marginally to 6.44 per cent in February, mainly on account of a slight easing in prices of food and fuel items though it remained above the Reserve Bank's comfort level of 6 per cent for the second month in a row. As per the government data released on Monday, the Consumer Price Index (CPI)-based inflation was at 6.52 per cent in January and 6.07 per cent in February 2022. The retail inflation rate for the food basket worked out to be 5.95 per cent in February, marginally lower than 6 per cent in January.
In terms of volumes, sales were up by 19.6 per cent to 2,75,586 units compared 2,30,376 to the year-ago period.
Leading economists have pencilled in a high 13-15.7 per cent uptick in the economy in the first quarter of 2022-23 with an upward bias. Soumya Kanti Ghosh, the group chief economic adviser at State Bank of India, on Tuesday said he expects the GDP to clip past 15.7 per cent in the first quarter with more chances of the final numbers printing in higher, while Aditi Nayar, the chief economist at the rating agency Icra, said the economy will grow much lower at 13 per cent in the June quarter. The national statistical office will announce the first quarter GDP numbers later next week.
Images from the FIFA World Cup Quarter-final match between Croatia and Brazil on Friday.
France will play Argentina, who are also looking to win the World Cup for the third time, in Sunday's final at the Lusail Stadium.
Union Finance Minister P Chidambaram will meet the heads of public sectors banks and financial institutions, like IFCI and Small Industries Development Bank of India (Sidbi) on Tuesday to review their performance for the second quarter ended September 2008.
.jpg)
Markets ended tad lower with financials declining the most ahead of RBI policy review tomorrow.
Headed by Urjit Patel, MPC for the fourth straight time kept the repo rate unchanged, at which it lends to the banks, at 6.25 per cent. The reverse repo, at which RBI borrows, will be 6 per cent.
However, a healthy deposit mobilisation will help banks insulate themselves from liquidity pressure due to heavy government borrowing even if the credit demand picks up.
IBM India has posted a revenue marketshare growth of 7 per cent in the country's overall server market and grew by over 100 per cent on a year-on-year basis in second-quarter of 2003, according to International Data Corporation.\n\n\n\n
Some Indian generic drugmakers are, however, uncertain about the pace of approvals in the near future.
India went down 2-5 to World champions Belgium in the semi-finals of the Olympics men's hockey tournament in Tokyo on Tuesday.
LaLiga leaders Barcelona's pursuit of a 27th Spanish title gained momentum after a 2-1 comeback win over Real Madrid.
In its Fifth Bi-monthly Monetary Policy Statement, 2017-18, RBI said the second quarter growth was lower than the one that was projected in the October review, and the recent increase in oil prices may have a negative impact on margins of firms and Gross Value Added (GVA) growth.
Its revenue grew 8.5 per cent to Rs 23,665 crore in the quarter under review from Rs 21,803 crore in the corresponding period last fiscal.
Barcelona were shaken up by Eintracht Frankfurt but took a first step in their bid to reach the Europa League last four as a second-half goal by Ferran Torres salvaged a 1-1 comeback away draw in their quarter-final first leg on Thursday.
RBI depty governor Subir Gokarn stopped short of giving a new estimate, saying the recovery was mainly driven by government spending and it was premature to forecast without knowing the impact of the monsoon on the third quarter figures.
With retail inflation surprising on the upside, the six-member monetary policy committee (MPC) of the Reserve Bank of India (RBI) is expected to increase the repo rate by 35-50 basis points (bps) in the review scheduled for September 28-30. According to economists, the central bank will continue to focus on bringing inflation down even though economic growth has remained sluggish. Data released by the government on Monday showed that the consumer price index (CPI)-based inflation increased by 7 per cent year-on-year (YoY) in August, thus, staying above the upper tolerance limit of the central bank for all the eight months of 2022.
The indigenously-built Naval Offshore Patrol Vessel will be the presidential yacht and lead the presidential column for the 11th edition of the Fleet Review in Visakhapatnam.
Reliance-Google's new smartphone has got mixed reviews from analysts and brokerages. The phone pricing is seen unattractive for low-end customers and bundled offers are being viewed as non-disruptive. While this could slow the pace of adoption, it could set the stage for tariff hikes in the industry, feel analysts.
The 50-share NSE Nifty inched up 5.95 points, or 0.06 per cent, to 10,127.75 points.
Auto-debit payment bounces have gone up for the second consecutive month in May, emphasising the stress building up due to a halt in economic activities as authorities lock down various parts of the country to stop the spread of the virus in the second wave. According to the National Automated Clearing House (NACH) data, in May, of the 85.7 million transactions initiated, 35.91 per cent, or 30.8 million transactions, failed.
The value of the foreign portfolio investors (FPI) holdings in the domestic equities reached $592 billion in three months ended June 2021, a surge of 7 per cent from the preceding quarter, according to a Morningstar report. This was largely on the back of robust net inflows from FPIs, coupled with the strong performance of the Indian equity markets. "As of the quarter ended June 2021, the value of FPI investments in Indian equities stood at $592 billion, which was considerably higher than the $552 billion recorded in the previous quarter, a spike of around 7 per cent," the report noted. As of June 2020, the value of FPI investments in Indian equities had been $344 billion.
Bajaj Auto Ltd on Wednesday reported a 6.98 per cent drop in its net profit at Rs 179.9 crore (Rs 17.9 billion) for the second quarter ending September 30, 2004, as compared to Rs 193.4 crore (Rs 19.3 billion) in the corresponding period last fiscal.
Das said that global economic activity has remained fragile and the surge in COVID-19 cases has subdued early signs of revival.
Shipment of 5G smartphones in the country continues to gain traction and such devices accounted for 22 per cent market share in the third quarter of 2021, according to CMR. As per CMR's India Mobile Handset Market Review Report for Q3 2021, more than 20 5G-capable smartphones were launched over the course of the quarter.
The Standing Committee on Petroleum and Natural Gas in a report tabled in Parliament said the proposed formula is a simple average of two methodologies -- price of imports of LNG into India by different suppliers, and weighted average of prices of natural gas prevailing at Henry Hub in USA, National Balancing Point in London and netback import price at the well head of suppliers into Japan.
Nitu has been in supreme form throughout the tournament, winning her first three bouts by RSC (referee stops contest).
With the Budget-making exercise in full swing, RBI Governor Shaktikanta Das on Friday said Budget 2021-22 is expected to be prudent and growth oriented. Das before donning the hat of RBI Governor was a career bureaucrat and was directly involved in crafting of about 10 Budgets for the country including one in the aftermath of global financial meltdown in different capacities at the finance ministry. In view of unprecedented pandemic and its impact on the economy, he said the government has maintained fiscal prudence in the response to deal with the crisis.
Revenue from convenience fees has grown at a compound annual rate of 85 per cent for multiplex chain operator Inox Leisure and 58 per cent for PVR.
