One of the challenges for those car graves is that Indian owners often find markets for their old cars rather than send them to scrapyards.
Analysts seem to be generally pessimistic about Bharat Heavy Electricals (BHEL). Out of 15 brokerages with recommendations since May this year, two have 'buy' while five have 'sell' and eight have 'underweight'/'reduce'/'underperform'/'hold' recommendations. The average target price of the public sector undertaking (PSU) is Rs 61. However, the stock has been consistently hitting new highs, which indicates that there is some kind of valuation mismatch.
India is working on new technologies such as the small modular reactors that can be factory-built and help make clean energy transition, Science and Technology Minister Jitendra Singh said in New Delhi.
Unprecedented rains and floods in the northern region in the past few days have not only caused extensive damage to lives and property but have also impacted business and commercial establishments. Vegetable prices have gone through the roof in the national capital and many other parts of the country since rains started pouring earlier this month. Traders say vegetable prices would come down only after roads open and skies clear, even as water in the fields will take time to recede.
Through rights issue, a firm allows existing shareholders a right to buy additional shares in the company at a specific price.
He said any decision regarding divestment of BHEL has to be taken by the board of the company.
The automobile sector is considered a good indicator of economic health. It has a very long value chain, from primary materials, like metals, glass and plastic, to value-added high-end electronic components, specialised alloys, and software.
Veteran bureaucrat and former Indian ambassador to the United States, Dr Abid Hussain, died in a hotel in London on Thursday morning following a heart attack.
Maharashtra Chief Minister Eknath Shinde reviewed the rain situation on Tuesday and said over 3,500 people had been shifted to safer places from flood-prone and vulnerable spots across the state, where several districts, including Mumbai, experienced downpour.
A day after announcing withdrawal from its chip-making JV with Indian conglomerate Vedanta, Foxconn on Tuesday said it is working on plans to apply for incentives under semiconductor and display fab programme, as the contract manufacturer pledged its commitment to India. The Taiwanese electronics manufacturing giant said it has been actively reviewing landscape for optimal partners. The comment assumes significance as Foxconn has pulled out from the $19.5 billion semiconductor JV with Vedanta.
The reshuffle in the Cabinet of Ministers in the United Progressive Alliance II threw up a few surprises on Wednesday.
Equity benchmarks bounced back sharply on Friday after facing a heavy drubbing in the previous trade, with the Sensex and Nifty jumping nearly 3 per cent, aided by positive trends from global markets and across-the-board buying. Index majors Reliance Industries and HDFC twins saw robust buying, helping the benchmarks. The 30-share BSE Sensex rallied 1,534.16 points or 2.91 per cent to settle at 54,326.39.
Equity benchmarks Sensex and Nifty ended over 1 per cent higher on Friday, helped by heavy buying in Infosys and banking stocks amid a rally in global stock markets. The 30-share BSE Sensex jumped 684.64 points or 1.20 per cent to settle at 57,919.97. During the day, it rallied 1,199.79 points or 2.09 per cent to 58,435.12.
Jawan springs a real surprise when it boldly and directly points fingers at the ineffective government and appeals to recognise the power of the finger and vote. Six months before the next general Indian election, this is no coincidence, observes Sukanya Verma.
'Even during the pandemic we did it.' 'We think it's our responsibility to make sure that we manage the uncertainty.'
Equity benchmark indices Sensex and Nifty buckled under selling pressure after a nine-session rally on Monday, as massive sell-off in IT, tech and telecom counters unnerved investors.
This State-corporate 'cooperation' didn't begin with the arrival of the Modi government.
Many of the big licences, contracts, and even environmental clearances for the Adani group had come in the UPA's time, points out Shekhar Gupta.
Far more important than governance is to ensure how different states get necessary representation a'The pressure to expand the council of ministers will come from states where the BJP has formed a government after ousting the Congress,' predicts A K Bhattacharya.
The negotiations on cost and techno-commercial details relating to India's proposed procurement of 26 Rafale-M fighter jets and three Scorpene submarines from France are not yet concluded, sources said on Tuesday.
This is one of the largest monthly increases in the labour force, observes Mahesh Vyas.
With the Covid-19 pandemic showing signs of ebbing and economic activity picking up, factory owners in Jalandhar had hoped that the worst was over. However, the heat wave in April and extensive power cuts that came with it, have crushed their hopes. The city's large number of micro, medium and small enterprises (MSMEs) are now gearing up for yet another struggle, this time to survive with the shortage of power that is severely impacting their operations.
The government is planning to offload stake in HMT Bearings Ltd (HBL) and is scouting for joint venture partners in some other state-owned firms in a bid to revive sick units.
The testing track for high speed vehicles (having speeds between 250 kmph and 350 kmph) at the Indore centre would be operational by 2012.
Union Heavy Industries Minister Vilasrao Deshmukh on Friday said that he is not a contender for the chief minister's post in Maharashtra. Speaking to reporters after his meeting with Congress president Sonia Gandhi in New Delhi, Deshmukh said he would leave the decision to the party high command. Deshmukh, who has headed the state government twice earlier, is claiming the support of fifty Members of Legislative Assembly.
Gautam Adani's alleged proximity to Narendra Modi may dent the latter's self-styled image of incorruptibility, points out Kanika Datta.
In a major ceasefire violation along the Line of Control, Pakistan Army on Saturday targeted 22 Border Security Force posts near the international border in R S Pura sector and Arania sub sector, killing two civilians and injuring four.
Benchmark BSE Sensex rallied nearly 630 points while Nifty closed above the 16,500 mark on Wednesday after sharp gains in IT and energy shares amid positive global market trends. Buying in index majors Reliance Industries, Infosys and Tata Consultancy Services and FII inflows bolstered the sentiment. Shares of firms related to oil exploration and refineries were in heavy demand, with Reliance Industries rallying 2.47 per cent and ONGC by 4 per cent, as the government slashed windfall tax on petrol, diesel, jet fuel and crude oil.
The EV industry is at an inflection point and batteries will play a critical role ahead -- batteries and related components typically constitute 35-45 per cent of an EV's costs.
This is significant as the turnover of the CPSEs during the whole of 2007-08 went up by 12.13 per cent to Rs 10.82 lakh crore (Rs 10.82 trillion). The 36 per cent increase in turnover recorded by the central PSUs during the first half does not reflect the impact of the global financial meltdown on the performance of the state-owned companies.
Bengal's Chief Minister Mamata Banerjee on Monday appealed for peace and asked "Hindu brothers" to ensure that minorities are protected, as prohibitory orders remained in force after post-Ram Navami violence in two towns of the densely populate Hooghly district.
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 number of loss-making state-owned enterprises was 54 as on March 2008. The cumulative losses in these enterprises increased to Rs 96,636 crore (Rs 966.36 billion) in 2007-08 from Rs 77,826 crore (Rs 778.26 billion) in 2004-05.
Equity benchmarks had another rough day on Monday, with the Sensex plummeting 1,457 points and the Nifty tumbling to the 15,774 level, mirroring an extremely weak trend in global markets along with unrelenting foreign fund outflows. Index majors ICICI Bank, Infosys and Reliance Industries bore the brunt of heavy selling. The 30-share BSE Sensex tumbled 1,456.74 points or 2.68 per cent to settle at 52,846.70.
'The trajectory of the disease will keep increasing because of the population density being very high.'
In a bid to improve coordination between the party and the government, at least one Union minister will be available at the BJP headquarters everyday starting Wednesday to hear grievances and suggestions from partymen.
The top court reserved its verdict on a batch of pleas seeking a collegium-like system for the appointment of ECs and the Chief Election Commissioner and asked the parties to file written submission in five days.
On Sunday, under the shadow of Covid-19, several leaders and politicians, including President Ram Nath Kovind, chief ministers of various states, and several Union ministers, among others, performed yoga at their residence, along with their families. For the first time since June 21, 2015, Yoga Day is being celebrated digitally. This year's theme is 'Yoga at Home and Yoga with Family'. Earlier in the day, Prime Minister Narendra Modi addressed the nation on the occasion of Yoga Day and said that due to the coronavirus pandemic, the world is feeling the need for yoga more than ever.
India's growth outlook has weakened sharply this year, with a crunch that started with the non-banking finance institutions spreading to retail businesses, car-makers, home sales and heavy industries.
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