While foreign currency rating was retained at Baa2 -- the second-lowest investment grade score -- Moody's also projected a fiscal deficit of 3.7 per cent of gross domestic product in the year through March 2020, a breach of the government's target of 3.3 per cent.
The 30-share Sensex closed down 114 points at 28,622 and the 50-share Nifty ended down 37 points at 8,686.
When Nitin Gadkari was president of the Bharatiya Janata Party, the party had announced it would set up a separate ministry for handlooms and handicraft. Instead of doing that, the BJP government has abolished the only institution that took into account the voice of the weavers.
IMF believes it is mostly cyclical, not structural, but because of the financial sector issues, recovery will be not be quick. IMF said, it saw an opportunity with the strong mandate of the new government to reinvigorate the reform agenda to boost inclusive and sustainable growth.
Index of industrial production data had also shown that the sector grew at 3.1 per cent after contracting in the previous quarters.
Prime Minister Narendra Modi on Saturday laid stress on a humanitarian approach to address problems concerning Jammu and Kashmir and said 'Vikas' and 'Vishwas' will be the cornerstones of the central government's development initiatives for the state hit by the unrest.
Says govt is creating conditions for greater private investment
HSBC analysts believe the UV which might sell about 3,000 units a month might fail to be an aspirational product in urban India.
Cement shares have been outperformers on the stock market
The negative aspect about the Budget is that the capital expenditure has been marginally cut to achieve the fiscal deficit target assumptions, and the onus of sustaining investment demand till private capex revives continues to vest with the public sector enterprises, notes Jyotivardhan Jaipuria.
Gold is seen as a preferred asset for all types of investors, even central banks.
Car sales likely to touch record 3-mn mark by the end of March.
'States have done a tremendous job of identifying health facilities for COVID-19 care and equipping them well.'
'We all wanted a strong Centre with a decisive mandate from the people, to allow them to take bold decisions.'
'Wild animals lived in their natural environment.' 'So, viruses could not be communicated.' 'Then came mass production and mass quartering of animals -- whether it be poultry, pigs and cattle -- which gave rise to bird flu, SARS and the mad cow disease.' 'Vast amounts of animal produce are also being flown from one part of the world to another, which has helped to spread the virus.' 'All these changes have led to a new and deadly mutation of the virus that has immobliised human beings.'
The Reserve Bank of India has cut repo rates, the rate at which it lends money to banks, by 75 basis points since January this year, but most banks have not lowered lending rates.
Swati Kulkarni, executive vice-president and fund manager - equities at UTI Mutual Fund tells Puneet Wadhwa that though mid-and small-cap companies are trading at a higher valuation as compared to large-cap peers, one can still find value in select pockets.
Nothing is going to dramatically open up on May 3. There will be too many ifs and buts and terms and conditions and guidelines in leading one's life in various zones, reveals Sheela Bhatt.
K C Venugopal (Congress) charged the Modi government with providing little funds for the MGNREGA.
The All India Anna Dravida Munnetra Kazhagam on Monday opposed in Rajya Sabha the government move to put in place a single examination for medical and dental courses through National Eligibility cum Entrance Test
'The revival of household savings and investment is the litmus test of whether we are on the road to recovery,' says Nitin Desai.
The Crisil study covered 600 companies excluding financial services and oil companies, representing 71 per cent of the overall market capitalisation of India Inc.
Commercial vehicles however declined by 2.83%
If the economy gains momentum, that is a big positive for markets, given the strong macro of low inflation, falling rates, and a stable rupee, says Akash Prakash.
After demonetisation, sharp fall in PE valuation offers an attractive entry point into some quality names and these 3 FMCG companies are expected to see the fastest growth in earnings with at least 15 per cent upside potential
Known for stable returns, near debt-free status and dividend track record, these 10 PSU stocks are worth buying now.
Top carmakers, including Maruti Suzuki India, Hyundai and Honda, are expecting a spike in their sales following the implementation of 7th Pay Commission recommendations.
'One of the biggest issues the Indian economy faces right now is of job creation...' 'The nexus between growth and employment has to be closed...' 'In the absence of a manufacturing expansion, the alternative is to have the service sector as the driver of both GDP as well as employment growth.'
Sensex catapults 1,241 points and Nifty vaults 382 points in two sessions in a row.
Punjab National Bank has made a name for itself in recovery of bad loan dues. Usha Ananthasubramanian, managing director and chief executive officer of the government-owned lender, explains how it has achieved this reputation.
The previous high in quarterly GDP growth was recorded in the January-March quarter of 2015-16 at 9.3 per cent.
Financial shares were among the top Sensex gainers along with auto and pharma shares.
If currency controls are maintained indefinitely, popular support for Narendra Modi's demonetisation will turn into dislike, warns Devangshu Datta.
Earnings growth is expected to accelerate as lingering toxic effects of note ban ease off and GST settles down. However, stock valuations are high and that means market is also overdue for correction, says Devangshu Datta.
Pravin Gaikwad, the state coordinator of Maratha Kranti Morcha, has two rare qualities: he has an unparalleled connect with people from his community and, at the same time, underpins his ideology on a strong analytical base.
'The PCA framework was revised and tightened in April 2017, but there was no discussion in any board meeting. The government does not know the rationale behind revising the framework and how the RBI arrived at it. Similarly, there was no discussion in the board meeting on the revised NPA framework,' said an official.
'Breaking down silos and ensuring a more integrated governance process is just as important to performance.' 'It has been a major priority in the last six years, especially in national security,' External Affairs Minister Dr Subrahmanyam Jaishankar points out when delivering the Sardar Patel Memorial Lecture-2020: India and the Post-Covid World.
'If credit is not available, people will postpone buying. That's what has happened.'
Maruti, Honda and Tata Motors posted highest sales growth during the month
Reliance Industries Ltd is expected to invest Rs 30,000 crore (Rs 300 billion), of the total Rs 70,000 crore (Rs 700 billion) announced, in its telecom arm Reliance Jio Infocomm over the next two years, credit rating firm Moody's said on Monday. The investment in the telecom business is a credit negative for RIL because RJio will not generate any EBITDA (an indicator of cash flows) for at least next 12 months, it said. Moody's added however that RJio will be a formidable competitor in the sector making it a credit negative for top telecom operators already in the field. "Based on RIL's March 2014 annual report, we estimate that it has already invested about Rs 400 billion (Rs 40,000 crore) in Reliance Jio, and we expect RIL to invest the next Rs 300 billion in Reliance Jio over the next two years," Moody's Investors Service said in a statement. RIL recently announced that it will launch commercial 4G telecom service of RJio in 2015 entailing investment of Rs 70,000 crore. RIL has said that RJio will initially cover about 5,000 towns and cities accounting for over 90 per cent of urban India, as well as over 215,000 villages in India and the target is to expand this to over 600,000 villages. Moody's said RJio will be a "formidable competitor in India's telecom sector" as it will enter the business with financial muscle. RJio's entry into highly competitive telecom sector is also credit negative for incumbent mobile operators and market leaders Bharti Airtel and Vodafone India because "it will undoubtedly result in intensified competition that will lead to declines in average revenue per user and margins". But, it also said that strong spectrum holding of incumbents; existing large subscriber-bases and well- established brand equity; offering 2G and 3G services (apart from 4G services being launched) as well as marketing and distribution architecture mitigate much of the near-term competitive threat from Reliance Jio for them. "Furthermore, given issues of language and literacy, large parts of rural India remain a substantially voice-based market where near-term demand for 4G services may be muted," Moody's said.
