'The variables to watch include the monsoon, resolution of NBFC liquidity issues, GST collections, and NPA resolution.'
If you have seen Zwigato, Param Kumar's story will sound familiar. Laid off from his job as a repairman at a Gurugram-based water purifier provider, he now delivers groceries and food for a mobile-based delivery app, in Delhi. Kumar, who started making deliveries last August, told Business Standard that he is working longer hours than his older salaried job as an RO repairman, and has no paid leaves or health insurance. Kumar is part of India's estimated 7.7 million-strong force of gig workers.
India is still the best story in major emerging markets from a 5-year perspective.
The interim free trade agreement between India and Australia will come into force on Thursday, providing duty-free access to thousands of domestic goods such as textiles, and leather in the Australian market. The agreement will help almost double the bilateral commerce to $45-50 billion in around five years, according to exporters and industry players. The Economic Cooperation and Trade Agreement (ECTA), which was signed on April 2, would provide duty-free access to Indian exporters of over 6,000 broad sectors, including textiles, leather, furniture, jewellery and machinery in the Australian market.
The markets will be eyeing the amendments.
Kerala Governor Arif Mohammed Khan, Chief Minister Pinarayi Vijayan and Congress MP Shashi Tharoor were also present with the PM as he interacted with the students inside the train.
A mixed global trend and weakness in rupee influenced the sentiments during the day.
Analysts say the sell-off in risky assets will be temporary and could be a buying opportunity for long-term investors.
The government has no plans to import wheat as it has sufficient stocks to meet the country's requirements, official sources said. The Food Corporation of India (FCI) has enough stock for public distribution, they added. "There are no plans to import wheat into India. "The country has sufficient stocks to meet our domestic requirements," a source said.
'Non-separation of religion from politics is India's most daunting challenge'
The upcoming Budget gives Finance Minister Arun Jaitley a chance to let states boost spending.
The seizure, as per officials, is estimated to be worth over Rs 10 crore in the international market (about Rs 5K-7K per blot) and all the six who have been taken into custody, beginning late last month, are students and youngsters who wanted to make 'easy money' by remaining anonymous within the deep layers of secret internet-based apps and messenger service like WICKR.
Market players said the sell-off was triggered by pessimism that the government may not be able to balance growth with macro-stability.
The banks says that valuations are reasonable.
The rising dependence on discounted crude oil has resulted in India's trade deficit with Russia hitting the second-highest place last year, after China, reveals Department of Commerce data. From April through January 2022-23 (FY23), India's maximum trade deficit was with China, at $71.58 billion. This was followed by Russia, where the deficit expanded sevenfold - from $4.86 billion in April-January of 2021-22 (FY22) to $34.79 billion during the same period in FY23.
Govt sees little Fed hike impact on 'fortressed' Indian markets.
'Nobody wants to run an exploitation factory.'
A presidential advisory sub-committee has recommended the federal government to extend the grace period for H1-B workers, who have lost their jobs, from the existing 60 days to 180 days so that the workers have enough opportunities to find a new job or other alternatives. "The immigration subcommittee recommends the Department of Homeland Security and the US Citizenship and Immigration Services (USCIS) to extend the grace period for H1-B workers, who have lost their jobs, from 60 days to 180 days," Ajay Jain Bhutoria, member of the President's Advisory Commission on Asian Americans, Native Hawaiians, and Pacific Islanders, said on Tuesday. In his presentation, Bhutoria highlighted the significant challenges faced by H1-B workers laid off from their jobs.
The IPL franchises are now expanding their bouquet of teams across leagues in the West Indies, UAE, South Africa and now the US is another untapped market that wasn't explored despite the Asian diaspora craving for some cricket.
The total value of holdings of domestic institutional investors as a percentage of the value of FII holdings has reached its highest level in four years.
Cooperatives have demanded the abolishment of income tax on theirs as well as the state cooperative banks' earnings failing which they would resort to agitations across the country.
Political risk culminating from elections in the US and Latin America, and evolving right-wing populism in Europe could lead to substantial volatility, say Abheek Barua & Tushar Arora.
Financials were the top gainers lead by private lenders ICICI Bank and HDFC Bank
The 30-share Sensex closed down 114 points at 28,622 and the 50-share Nifty ended down 37 points at 8,686.
The "MSP Dilao, Kisan Bachao mahapanchayat", called by Bharatiya Kisan Union (Charuni), was being held at a grain market in Pipli close to National Highway-44 which was blocked by farmers a few days ago demanding that the government procure sunflower seed at MSP.
The US Fed will decide if it should raise interest rates from near-zero levels first time in a decade.
Several of the injured are said to be critical and rescue workers are searching for more casualties in the scorched area.
Experts believe the market will fall between 1 and 3%.
Nine of the top-10 most valued companies together lost a whopping Rs 309,178.44 crore in market valuation last week as selloffs continued. In a holiday-shortened past week, the 30-share BSE Sensex plummeted 1,836.95 points or 3.11 per cent amid geopolitical tensions, global sell-off triggered by a hawkish US Federal Reserve and unabated foreign fund outflows. From the top-10 list, State Bank of India was the lone gainer as its valuation jumped Rs 18,340.07 crore to reach Rs 467,069.54 crore.
At Prestige Polygon Towers in Chennai's Teynampet, hectic preparations are on for a mega global investors' meet under the aegis of Guidance Tamil Nadu (the state investment promotion agency) scheduled for January 2024. Asked about the key focus areas of the meet, the agency's managing director and chief executive officer, V Vishnu, said the state was betting big on electric mobility. This is no surprise, given that the state has signed electric vehicle (EV)-related memorandums of understanding (MoUs) with several companies in the recent past that may bring in investments worth around Rs 33,000 crore with the potential to create over 43,000 job opportunities.
The Punjab government has chalked out plans to promote contract farming of basmati and other long grain varieties of paddy, over 26,000 acres of land in 12 districts of the state.
Index heavyweights Reliance Industries and ITC were the top losers along with ICICI Bank and SBI
The price of 100 gram butter pack has been raised from Rs 23 to Rs 25 per pack, and the hike comes into effect from next week as new stocks are being dispatched.
Participants will keenly watch fate of GST Bill in Parliament.
The difference between what the banks play in the US and India is not that of soccer and football but rugby and football. SVB also has a unique character. But when risks are mispriced, the fallout could be very similar, points out Tamal Bandyopadhyay.
Investors' wealth has eroded by over Rs 680,441 crore in three days of market fall amid weak global trends and muted domestic sentiments. Extending its losses for the third straight day, BSE benchmark Sensex on Thursday finished below the 60,000-level, weighed by hectic selling in IT, energy and finance stocks amid a sell-off in European equities. The index has lost 1,844.29 points in three sessions.
Content marketing is perhaps part of the tectonic shift that is under way in media with the advent of the web, says Ajit Balakrishnan.
India Inc has found renewed hope in the capital markets for the next six months but has painted a gloomy picture for the long-run due to the uncertainty arising out of impending general elections.
Manufacturing taxes, VAT will come down, assures Jaitley
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