While green shoots are beginning to emerge, with June sales rebounding to pre-Covid levels thanks to a rural revival, most FMCG chief executives have voiced concerns about localised lockdowns that began in July and have extended into August in some states.
Shekhar Bajaj, chairman and managing director of the firm, explains to Viveat Susan Pinto on what led to this sales jump, besides throwing light on the benefits accruing to the sector on account of the GST rate cuts in appliances.
'Economic issues do not matter during elections; it is the emotional connect that helps swing votes.'
Attractively low prices, rising demand and a favourable ratio to gold point to better days ahead for the white metal.
'The BJP is scared it may lose the Delhi municipal elections where they have been in power for the last 15 years.'
The surge in wheat export from India owing to the Ukraine crisis has once again demonstrated how farmers in states that have flexible marketing frameworks and low taxes benefit more from an emerging situation. The bulk of the wheat exported from India, trade and industry sources say, is being sourced at rates significantly higher than the state-mandated price of Rs 2,015 per quintal in Madhya Pradesh (MP), Uttar Pradesh (UP), and Gujarat - states which have low mandi taxes compared to Punjab and Haryana. This is not only benefiting farmers there but could also lead to significant savings for the states in procurement costs in the months to come.
Finance Minister Nirmala Sitharaman on Thursday announced a new job creation scheme by giving subsidy to those establishments that make new hires. The subsidy would be to cover for retirement fund contributions by employees as well as employers for two years, she said. Employees contribution (12 per cent of wages) and employer's contribution (12 per cent of wages) totalling 24 per cent of wages would be given to establishments for two years, she said. Under the Aatmanirbhar Bharat Rozgar Yojana, every Employees' Provident Fund Organisation (EPFO)-registered establishment taking new employees would get this subsidy.
Thackeray also claimed that the Maharashtra government is yet to receive a total of around Rs 38,000 crore from the Centre.
The Pune-based company sells the Platina and CT brands in the entry-level - 100-110cc - segment.
An interplay of Modi government's outreach in Bihar and the sequence of events in Chirag Paswan's life could make Bihar a game of musical chairs when the results are out.
Eshwarappa, a senior Bharatiya Janata Party leader from Shivamogga and who had been a long time associate of Yediyurappa, met Governor Vajubhai Vala and submitted a five-page letter on "serious lapses and authoritarian way of running the administration" by the chief minister.
Dealers say that the full-year outlook remains negative with a projected contraction in retail sales of 15-35 per cent across segments, save tractors, which look set to clock a positive annual growth.
The demand for milk and milk products slumped during the Covid-19 lockdown mainly from hotels, restaurants, sweetmeat shops which were shut to control the spread of the disease.
She said that despite government scheme and initiatives ranging from roads to agriculture, housing, scholarships to electricity benefiting lives of people, a false narrative was being created by the opposition that the government was working for cronies.
MSI chairman R C Bhargava said auto sector would like to see GST benefits linked to greener/cleaner cars. The government gave tax cut on EVs but hybrid should be given duty cut. There should be tax cut on CNG vehicles.
The poll of over 30 economists, taken in the past week, showed Asia's third largest economy will expand 7.8 percent in the fiscal year ending March 2017.
A strong showing will be vital to Narendra Modi's chances of a second term.
Check out some of the stocks that will react on the basis of their numbers in the near term.
Prices of two-wheelers, passenger and commercial vehicles are set to rise 15-25%
Expressing regret that some have created "misconception in a planned manner" in the hearts of protesting farmers on these farm laws, the minister said however the government is constantly engaging with such farmer unions.
'People are doing a lot of trading.' 'Short-term euphoria can be seen.' 'Retail participation is best through MFs and PMS.'
After a gap of 10 years, the DMK snatched the reins of power from arch rival AIADMK, with its president M K Stalin leading the party to a stellar performance and in the process, helming the state as chief minister for the first time.
Demoralising the private companies and disregarding their contribution won't do any good to the country or its youth as our experience has shown that private enterprises in mobile manufacturing has lead to every poor family owning a mobile phone now, while the country's private sector in the pharmaceutical space has been serving humanity through vaccines and medicines during Covid times, Modi said.
"The government recruitment is frozen. Where are the jobs?" the minister said.
Agriculture activity, according to recent channel checks by Prabhudas Lilladher, is expected to continue at a strong pace in FY22.
The coronavirus outbreak has brought a large part of the world's second-largest economy China to a standstill and its impact has been felt across industries.
The Nifty had crashed to a new 21-month low of 6,825 while the Finance Minister was speaking.
Mandatory hallmarking of gold would be a positive in making the gold market more organised. Mandatory hallmarking would come into effect from January 15, 2020, with a one-year transition period for trade to sell existing inventories. Experts also expect more policy measures next year to bring in more transparency in terms of gold as an asset class.
As markets enter the new financial year and the long-term capital gains tax on the sale of stock investments kicks in, Abhinav Khanna, head of equities, Citi India, tells Puneet Wadhwa that he remains optimistic on the medium-to-long term growth of India, led by consumption recovery and the green shoots visible in the capex cycle.
The hoarding of cash accentuated from the very start of 2020, when the coronavirus pandemic started taking hold the world over, and fear of the pandemic prodded people to remain liquid for emergency use.
With cash -- the primary medium of exchange -- all but disappearing, it is now unlikely that the expected fillip to demand on account of a good monsoon and proceeds from the Seventh Pay Commission payout will materialise.
Vehicle sales have been hampered by weak consumer sentiment and still-weak availability of financing following tighter liquidity at non-banking lenders since the middle of 2018.
With India's GDP clocking a lower contraction of 7.5 per cent in the September quarter, industry and experts expressed confidence of further recovery in the coming months and said the government's actions are bearing fruit. In a tweet, Vedanta chairman Anil Agarwal said, "Q2 #GDP numbers show that economy is recovering. Government's efforts on stimulus and reform are showing results. Hopefully, we will have positive growth in H2 FY21 and double digit growth in FY22."
These five stocks, which have lagged the markets over the last two years, have doubled in value since March 23.
Colombo seems to be veering to the middle path between China and the US on global matters, but in regional matters of strategic security, it is increasingly identifying with India, points out N Sathiya Moorthy.
The Smart Power model is an innovative way to deliver clean energy.
The situation could become more acute as millions of migrants who had returned to their villages during the lockdown come back to the towns for higher wages and better livelihoods.
Used smartphones are gaining popularity in the hinterland, the main market for JioPhone. Share of JioPhone in the feature phone market had shrunk from 47% in Q2 of 2018 to 28% a year after.
Higher disposable incomes, rural push and infra push to boost auto sector
Welcoming the latest round of stimulus announced by Finance Minister Nirmala Sitharaman on Thursday, experts said the measures will support the economic recovery boosting demand, job creation and by providing funds to the MSME and stressed sectors. The fiscal impact of the stimulus is likely to be around 0.25-0.6 per cent of GDP in the current fiscal, they said.
