India is Asia's third-best performing equity market.
Concerns are swirling that Japan's dream of hosting the Tokyo 2020 Olympics could be a fatality of the spread of the new coronavirus, jolting organisers, sponsors, and media firms who have spent billions of dollars in the run-up to the event. Global insurers face a hefty bill if the coronavirus forces the cancellation of the Games, with estimates of the cost of insuring the showpiece running into billions of dollars.
Macroeconomic (macro) concerns, along with a cautious approach towards discretionary information technology (IT) spending, will see the revenue for Indian IT firms decelerate by 5 per cent through 2024-25 (FY25), from the highs of 12-18 per cent in 2022-23, said analysts from S&P Global Ratings. "The reason behind this slow growth is a macro slowdown. "Customers are cutting their discretionary IT spending, especially on projects that take longer to deliver quantifiable outcomes. "We also acknowledge that there are still strong economic headwinds for the next few years," said Spencer Ng, associate director, corporate ratings, S&P Global Ratings, over a call in a media briefing.
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Bharatiya Janata Party MP Nishikant Dubey said on Saturday the Lok Sabha Speaker should also probe the 'unsavoury' conduct and remarks of Danish Ali, who was recently at the receiving end of ruling party member Ramesh Bidhuri's derogatory words in the House.
'In the larger cities, we can see that 12%-20% of the population making use of the metros. I don't think it is happening in the smaller cities.'
Analysts worry about possible loan waiver.
'Rhetoric and chest-thumping are running high on India's recent growth record.'
'But will the giant waves developing elsewhere allow us to sail smoothly into fair winds?' asks Debashis Basu.
Finance Minister Arun Jaitley sought parliament's approval on Friday to increase the spending budget for this fiscal year by $4 billion, with almost half to be used to inject extra capital into state banks struggling with bad loans.
'Look not just at the interest rate but also the processing fee.'
Asserting that his government's decision to ban instant triple talaq has boosted the overall sense of security for Muslim women, Prime Minister Narendra Modi has asked Bharatiya Janata Party leaders to reach out to them during the upcoming festival of Raksha Bandhan.
It moved in a range of 59.80 and 59.99 per dollar during the morning deals.
After bumbling for years since 2014, the Modi government seems to believe that massive government expenditure will lead us to prosperity supported by 'seat-of-the-pants' decision-making, observes Debashis Basu.
The findings of the report showed consumer spending falling for the first time in over four decades in 2017-18. The government has, however, termed it a "draft" report, reports Somesh Jha.
India's information technology (IT) sector will witness subdued hiring in 2023-24 as macro uncertainties impact demand environment, with clients either taking a pause on spend or stopping discretionary spend, say human resource experts. To begin with, unlike earlier years, the three large IT players TCS, HCLTech, and Wipro have not provided any new hiring targets for the financial year. And Wipro has said that its hiring target will depend on the demand environment.
A muted revenue performance in the September quarter and weak management commentary weighed on the stock of consumer major Marico which shed 8.5 per cent to Rs 542 from its intraday highs on Tuesday. The company indicated that demand trends were similar to that of the June quarter with instances of increasing food prices and below-normal rainfall distribution in some regions impeding the anticipated recovery in rural demand.
'Limited spillovers' to Asia's third-largest economy, even as world 'perilously close' to recession.
A movie like Bad Boy being made in 2023 would have been just as unwatchable no matter who made it. That Rajkumar Santoshi has, is almost heart-breaking, sighs Deepa Gahlot.
Funding winter and corporate governance woes separated the men from the boys in the country's startup space in 2023 that saw funds into the segment tapering to just around $8 billion. All said, investors are hopeful of strong growth of the maturing startup ecosystem in the new year. Edtech and health tech segments that grew exponentially during the pandemic plunged into an abyss of financial uncertainties, with several firms shuttering their business, and valuation of prominent players like BYJU'S and PharmEasy plummeting 85-90 per cent.
With raw material prices rising sequentially in Q4 FY23, margins of fast moving electrical goods (FMEG) companies could witness pressure as they refrain from hiking prices and demand remains soft. Transition to a new regulatory regime-fans moved to new BEE standards from January 1-poses additional risk for firms. Business depends on volume trends in summer for key sub-segments, which account for a significant chunk of the sector's overall sales pie.
The middle income group has been impacted by inflation particularly in context of falling The rupee and its cascading effects on price rise of items like petroleum products and edible oil, according to a survey by apex chamber Assocham.
The information technology services sector will see a sharp fall in revenue growth to 12-13 per cent in FY23 from 19 per cent in FY22, ratings agency Crisil said on Thursday. However, the current depreciation in the rupee, strong demand for new age technologies like artificial intelligence, cloud computing and Internet of Things will help the over $220-billion sector maintain a double digit growth, it said in a report. The moderation from 19 per cent to 12-13 per cent will be the highest in the last eight years, it said and attributed the decline to expected tightening of IT expenditure by corporates amid the inflationary headwinds in the United States and European Union (EU), which together contribute almost 85 per cent to the sector's revenue.
India's tennis players -- both current and former -- are not just counting financial losses as they cope with the fallout of the coronavirus pandemic. The closure of the Pro Tour means that doubles exponent Purav Raja is set to lose at least $50,000 in this lockdown period, according to his own assessment. Prajnesh Gunneswaran, Jeevan Nedunchezhiyan and Divij Sharan can't exactly tell how much they would lose but considering the fact that they are consistently in contention to be in Grand Slam main draws, the massive financial hit is not difficult to assess.
Hina flirts in purple... Radhika spends Sunday in bed...Jennifer celebrates in Phuket...
Kunal Kemmu's default mode performing comedy is overacting. When surrounded by much more competent theatre-trained actors, he falls consistently short. (In the past, this role would have been tailor-made for Govinda), observes Deepa Gahlot.
Exports declined for the fourth-consecutive month by 10.3 per cent year-on-year to $34.98 billion in May, while the trade deficit widened to a five-month high of $22.12 billion. According to the data released by the commerce ministry on Thursday, key export sectors recording negative growth include petroleum products, gems and jewellery, engineering goods, ready-made garments of all textiles and chemicals. Imports also declined 6.6 per cent, six-month in a row, to $57.1 billion against $61.13 billion in the same month last year, the data showed.
Catch J Baby in theatres, and if you want to watch more touching Tamil stories on the dysfunctional family, Arjun Menon lists where you can find them on OTT.
Ask your bank to save for you. Plan your taxes. Reward yourself for your addictions... Chartered accountant Shreya Jaiswal's 10 ways to make more money this year.
Unseasonal rains watered down the performance of consumer durables companies as temperatures cooled, impacting the sales of refrigerators and air conditioners (ACs) in the 2023-24 (FY24) April-June quarter. Centrum says in its report on the sector that the trade channel indicates a 25-30 per cent year-on-year (YoY) decline in sales of refrigerators and ACs in April and May due to restricted buying. "While some green shoots in demand were visible in June, overall growth for the quarter is likely to remain at a negative 10-12 per cent," observes the brokerage.
Despite superior margins, JLR hasn't had a smooth ride in China.
Morgan Stanley has increased the target prices of certain information technology (IT) stocks by as much as 29 per cent, anticipating an improvement in earnings in the near future. Within the IT and engineering research and development (ER&D) services sector, it is now more optimistic about growth and margin estimates for 2024-25 (FY25).
The Street shrugged off a muted first quarter of financial year 2023-24 (Q1FY24) and a cautious near-term outlook by India's largest information technology (IT) services company, Tata Consultancy Services (TCS). The stock was the top Nifty50 and Sensex gainer on Thursday, rising 2.5 per cent, as investors took comfort from a robust order book and an encouraging pipeline. Like its larger peer, HCL Technologies' (HCL Tech), too fell short of the Street's expectations on the revenue and margin fronts given cuts in discretionary expenditure.
Manchester United climb into sixth place with 3-0 West Ham win
Tendulkar wants to break the ODIs to four innings of 25 overs each to break the "monotony".
Chef Aditi Handa, who is deeply invested in baking, makes the most delicious sourdough.
Some of her best films are not available on streaming platforms, but Deepa Gahlot looks at her Hindi cinema oeuvre on OTT.
Of the 3,893,149 registered applicants on the MP Rojgar portal, only 21 individuals have been successfully placed in government and semi-government positions since April 2020.
Irregular rainfall and a pick-up in commodity costs are expected to weigh on the demand and margins of fast-moving consumer goods (FMCG) companies. Most companies reported a sharp expansion in gross margins in the April-June quarter (first quarter, or Q1) of 2023-24 (FY24), given the lower prices of key raw materials and earlier price hikes. Furthermore, there were expectations that cost savings being passed on could reflect in volume growth going forward. However, these hopes could be dashed if demand recovery, especially in the rural segment, stalls, and gains on the raw material front start to recede.
Looking for Treasures From Mizoram to embrace through 2024 and beyond.
JP Morgan has reiterated its negative stance on Indian information technology (IT) services and downgraded the sector to underweight (neutral earlier post Q4-FY23 numbers), as it believes the overall demand environment for the sector still remains weak. The research firm expects most companies in the sector to disappoint while announcing their first quarter numbers for the current fiscal (Q1-FY24). Among stocks, it has placed Infosys, TCS, MphasiS in its 'negative catalyst watch'.
