'The upper caste elite's belief that they are casteless is a belief that is available only to the upper castes. Because all the lower castes are reminded by society every day what their caste is.'
We have already suffered considerable collateral damage as a result of the war, and its continuance will continue to dampen our prospects for faster economic growth. We have a direct and legitimate interest in its early cessation, counsels former foreign secretary Shyam Saran.
Over 68,000 Army soldiers, around 90 tanks and other weapon systems were airlifted by the Indian Air Force to eastern Ladakh from across the country for rapid deployment along the Line of Actual Control (LAC) after the deadly clashes in the Galwan Valley, top sources in defence and security establishment said.
'The Emergency was a temporary affair. It was withdrawn after 20 months.' 'But we are in this situation for the last 10 years.' 'If the Emergency was jhatka, this is halal, slow killing.'
Foreign portfolio investors (FPI) flows have turned positive on a trailing 12-month (TTM) basis for the first time since December 2021. Thanks to robust inflows over the past three months, the TTM overseas flows into domestic equities stand at over $7.3 billion-the most since November 2021. This has helped propel one-year Nifty returns to 12 per cent.
With the markets scaling new highs, as many as 43 stocks from the Nifty50 index and 27 of the 30 scrips that are part of the S&P BSE Sensex are trading above their respective 200-day moving average (DMA). The 200-DMA is seen as one of the most relevant trend indicators by investors and traders, who believe that stocks and indices trading above this level possess strength and are likely to rally in the short to medium term, while the ones trading below this level are viewed as bearish and expected to see a sell-off. Wipro, UPL, Kotak Mahindra Bank, Hindalco, Infosys, Cipla, and Adani Enterprises are the only stocks from the Nifty50 pack that are still below their respective 200-DMA, the exchange data suggests.
Indian start-ups raised issues, such as blockages in international wire transfers, disruptions due to threshold limits on withdrawals, lack of communication from US agencies, and the need for preferential access to credit, in a meeting with the government over the fallout of Silicon Valley Bank's collapse. Rajeev Chandrasekhar, minister of state for electronics and information technology, held a virtual meeting with over 450 members from start-ups, venture capitalists, and investors who have been directly affected by the closure of SVB. He assured them that the IT ministry would put together a list of suggestions and give it to the finance minister on behalf of start-ups.
West Asian carriers are up against Air India and IndiGo in the battle for seats on lucrative international routes.
The Bharatiya Janata Party and the Congress remain the most dominant political forces in Chhattisgarh, though the state has several regional outfits that have pockets of influence, while the Aam Aadmi Party (AAP) is making a determined bid to challenge its well entrenched rivals and make a mark in polls to the 90-member House.
The sharp rally in the midcap stocks has made valuations expensive, and there is room for a correction, wrote Christopher Wood, global head of equity strategy at Jefferies in his latest note to investors, GREED & fear. The midcap index, Wood said, now trades at 24.1x 12-month forward earnings compared with 18.7x for the Nifty. Rising crude oil prices, he believes, are another worry for India, which imports nearly 80 per cent of its annual crude oil requirement.
India should start evaluating options to create a sovereign wealth fund given our large accumulated reserves and sub-optimal investment strategy.
'What has the impact of 40 years of warfare in Afghanistan been on us?' 'Afghanistan is marginal to India's future.'
'Hacking of an ID or an account will have the same impact on a user in a city and one in a small town.' 'Security is like a railroad, you create it to last for every customer.'
Defence Minister Rajnath Singh on Monday said that decision on Pakistan-occupied Kashmir (PoK) should have been taken during 1971 war between India and the neighbouring country.
rediffGURU Sunil Lala answers your MF-related queries.
As India progresses towards formulating its own model of theaterisation, the public must get involved in the debate because in the end, it affects the well-being of the entire nation, asserts Biswajit Dasgupta.
Gandhi also said the idea of 'One Nation, One Election' was aimed at distracting from real issues of the people.
'The debate is not whether the Indian defence apparatus is in a state of disrepair, but whether it is capable of securing the defence of the country if any envisaged threat becomes real.'
Hindalco's first quarter (Q1FY23) results indicate healthy domestic volumes for aluminium and copper, and lower cost of production. Subsidiary Novelis saw weak volume trends but it managed to push operating profit margins on a better mix and pricing hikes. The weak global outlook on aluminium is a cause for ongoing concern.
Metal and mining companies, such as Tata Steel, JSW Steel, Hindalco, and Coal India, have been among the top-performing sectors on the bourses in recent months. The S&P BSE Metal Index is up 13 per cent in the past three months, rallying 29 per cent in the past year, outperforming the broader market. For comparison, the benchmark S&P BSE Sensex has only seen a 1.7 per cent increase in the past three months, with a 15 per cent gain since the end of September last year.
The National Stock Exchange (NSE) has received Rs 300 crore from the Securities and Exchange Board of India (Sebi) following relief from the Supreme Court (SC), which is hearing an appeal by the market regulator in the colocation case. The court on March 20 asked Sebi to return Rs 300 crore to the NSE from the Rs 1,107 crore the exchange had deposited as part of the disgorgement in the case. The NSE had given an undertaking that it will return the entire amount to Sebi if the latter wins its appeal before the SC.
The report said that Indian officials believe China is trying to contain India by forcing it to divert more resources into defending simultaneously both its western border with Pakistan and eastern flank with China and by weakening its willingness and ability to challenge Chinese ambitions to dominate the region.
Citing China's example, he said a powerful military will enhance India's strategic clout.
the three investors that have submitted their final bids are not commercial banks. Among the three, one is a non-banking financial company. Another distinctive feature of the revival is that PMC may lose its cooperative bank characteristic after its reconstruction.
Is there a well-concealed additional vision of an 'arc of democracy'? That is the nagging question in the Chinese mind. It will nag even more after they have read Dr Singh's positive reaction to the idea of closer co-operation among major democracies
...followed by financial services, IT, and sales and marketing.
The opinion piece added that the party combines the most striking principles of three major political entities in the world -- the Likud Party of Israel, the Communist Party of China and the Muslim Brotherhood of Egypt.
Headed by former prime minister HD Deve Gowda, the JD-S has long been a strong third player in the southern state where the Congress and the BJP have been the two main parties.
'The long maturity of these funds makes them well-suited for long-term financial goals such as saving for retirement or children's education or marriage.'
Shares of telecom services providers - Reliance Industries (parent of Reliance Jio), Bharti Airtel, and Vodafone Idea - have shed up to 23 per cent so far in the current calendar year as growth in the wireless subscriber segment begins to plateau amid higher tariffs and rising costs of smartphones. By comparison, the benchmark S&P BSE Sensex, and sectoral index BSE Telecom have dipped 1.8 per cent, and 12.6 per cent, respectively, ACE Equity data shows. However, analysts expect the trend to reverse soon as telecom services providers focus on the next leg of growth -- fixed broadband (FBB) segment.
The Congress refrained from commenting on any peace formula between Gehlot and Pilot.
The most immediate challenge for growth is the disruption of the global economy brought about by the Ukraine war and related sanctions, the Covid shutdowns in China and the rising tide of inflation, points out Nitin Desai.
Portfolio management services (PMS), catering to higher networth individuals (HNIs), are facing tough competition from emerging alternative investment funds (AIFs), evident from their dwindling client base. In May, the number of clients for the industry stood at 125,390, down 20,528 in two months, shows data from the Securities and Exchange Board of India (Sebi). "PMS managers also have a high active ratio, which means their portfolios are quite differently positioned and more actively managed, compared to the benchmark, which is also a highlight for long-term investors.
'This was Indian land the PLA advanced on and occupied.' 'The Chinese then 'negotiated' a pullback of their troops a small distance on Indian territory even as Indian jawans draw back further into India from the forward position.' 'An apparently satisfied Indian government says this is a great move for peace! How great is that for China!'
'India should not be taken by surprise if the Biden administration seeks China's cooperation at some point,' alerts Ambassador M K Bhadrakumar.
Prime Minister Narendra D Modi's itinerary for his June 21-24 US visit could include an address to a fledgling business advocacy group, the US-India Strategic Partnership Forum.
US Secretary of State Micheal Pompeo and Secretary of Defence James Mattis will travel to New Delhi next month for the 2+2 dialogue.
The military delegation will be in Delhi "shortly" and confer with top Indian Army officials as well as those in the ministry of external affairs to evolve a road map for a counter-insurgency strategy, reports Nitin Gokhale.
'The hackers' objectives were centred around smearing India's reputation, causing productivity loss, creating operational damage and seeking financial gains.'
More people working in India's technology industry have lost their jobs in the first six months of 2023 than in the corresponding period in 2022.
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