'The revival of household savings and investment is the litmus test of whether we are on the road to recovery,' says Nitin Desai.
Fugitive diamond merchant Nirav Modi, wanted in India in connection with the estimated $2-billion Punjab National Bank (PNB) scam case, was on Tuesday further remanded in custody until January 7 by a UK court hearing his extradition case. The 49-year-old businessman, who has been behind bars at Wandsworth Prison in south-west London since his arrest last year following India's extradition request for him, appeared via videolink for a routine 28-day remand hearing on Tuesday before Westminster Magistrates' Court in London. The final hearings in the extradition case are scheduled over two days, on January 7 and 8 next year, when District Judge Samuel Goozee is scheduled to hear closing arguments from both sides before he hands down his judgment a few weeks later.
This will encompass the sale of Air India, a number of other privatisation initiatives, mergers, initial public offerings, the Centre's two exchange-traded funds, buybacks and offers-for-sale, and even monetisation of land assets.
An insider said that over the past decade or so Cipla has become immune to the exits of leaders. There have been no directional change in the long-term strategies.
'Now is the time for India to course correct and for the government also to course correct,' says businessman Mangesh Khatri.
Nestle relaunched its instant noodles Maggi in the country after satisfying the conditions laid down by the High Court.
This will help employers keep a track of the diseases workers could suffer from while doing their jobs.
While companies having fewer visa holders in the US seem to be less exposed to rising protectionism, most front-line IT stocks are trading at attractive levels and, to a large extent, factor in near-term headwinds.
Historically, the RBI has tried to keep the crooks at bay by issuing a circular a day. What it needs is more onsite supervision. Merely checking high-frequency data with the help of technology is insufficient, notes Tamal Bandyopadhyay.
The S&P BSE Sensex ended the session at 25,342, up 3 points while the Nifty50 closed at 7,738 points.
Facebook -- which counts India among its largest markets with over 300 million users -- has been in the eye of a storm after a Wall Street Journal (WSJ) report alleged that the social media platform's content policies favoured the ruling party in India. The report had accused Facebook of ignoring posts containing hate speech by BJP MLA Raja Singh. Since then, the ruling BJP and Congress have been trading barbs over the social media giant's alleged political bias.
Sebi had given an extension last year for PSUs to meet 25% minimum public shareholding rule
'Initially, Gift City was just another real estate project, but all that changed with Modi moving to New Delhi,' notes Tamal Bandyopadhyay.
Foreign banks set the template in consumer banking in its infancy, but have almost vacated this booming space.
On June 5, FSSAI banned Maggi noodles.
The industry body has issued two advisories in an attempt to restore jewellers credibility in the wake of the Rs 12,000-crore PNB-Nirav Modi scam, and recent defaults by two domestic jewellers - Goodwin and Rasiklal.
Twenty-three of the 31 stocks in his publicly disclosed portfolio consist small-cap stocks. jhunjhunwala's portfolio rose 15.2% in Q3.
The government plans to bring down its stake to 26 per cent in these two banks, which are yet to be identified. This may not come in the way of getting investors for these banks, provided the government is willing to step back rather than run them the way it had been doing for over five decades since these banks were nationalised, points out Tamal Bandyopadhyay.
'India will soon have the world's largest and youngest population -- just imagine what tomorrow's citizens of India will be able to accomplish, given the right education, training, and opportunity.'
The combined fertiliser, food and petroleum subsidy budgeted estimate for FY19 is Rs 2.64 trillion, while the revised estimate is Rs 2.66 trillion. If the carrying forward to FY20 does not happen, the revised estimates for the major subsidies could actually cross Rs 3 trillion for the first time ever.
Sun Pharma dipped 2% to Rs 615 on the BSE, its lowest level since November 9, 2016
Maggi ban: SC orders fresh testing at Mysore lab.
Capital dumping is being used by foreign e-commerce firms to subsidise and engage in predatory pricing, oil-to-telecom conglomerate Reliance Industries (RIL) has told the Associated Chambers of Commerce and Industry of India (Assocham) in an internal document. The document alleges that this is leading to massive unemployment and financial distress among small merchants and kirana stores. It consists of various recommendations and proposed changes that deal with Press Note 2 of 2018 (PN 2), which RIL wanted Assocham to present to the government, according to sources.
Nestle India said it has conducted over 3,500 tests.
Modi has been relentless in building his brand regardless of banks having a problem of fraudulent and unauthorised transactions with his companies.
Being one of the early commentators to flag economic slowdown and caution investors on corporate earnings, Gautam Chhaochharia, head of India research, UBS Securities, in an interview with Hamsini Karthik says the markets remain in an expensive zone despite the recent correction.
To address the supply crunch, CII has suggested leveraging the existing excess capacity in the Indian industry; rolling back import duty hike to look for alternative sources of imports; expanding credit to manufacturing units with quick loan sanctions, and one-time emergency waiver of non-performing asset regulations for three months.
The 30-share Sensex ended 50 points lower at 28,112 and the 50-share Nifty declined 12 points to close at 8,531.
A probe finds several pharma majors in breach of the law; and in turn they blame the government.
The fruit has to however meet biosecurity standards including irradiation before they are exported.
India's growth presents a win-win partnership for the country and the US, and American companies have a great opportunity to contribute to that, Modi told the CEOs.
The reasons given for the refusal include misbranding, adulteration, packaging, labelling, pesticides, unapproved products.
A dummy's guide to get the best price for your car.
The 49-year-old jeweller, who has been lodged at Wandsworth Prison in south-west London since his arrest in March last year, appeared via videolink for the remand hearing at Westminster Magistrates' Court in London.
The S&P BSE Sensex ended up 28 points at 25,844 and the Nifty50 ended flat at 7,915.
A weak economy coupled with rising Covid-19 cases and inflation that is above RBI's comfort zone, geopolitical developments, and upcoming India Inc's second quarter results for FY21 could impact sentiment, analysts say.
