India is sceptical that Tesla might import into the country cars made in China. Tesla executives were in India last month and appear to have proposed a factory in the country. But do not be surprised if that does not happen in a hurry.
Renewed inflationary pressures, led by a spike in prices of vegetables and cereals, have cast a spell on the equity markets in the past month. The BSE Sensex and Nifty50 have declined up to 2 per cent each during the period, clipping the 13 per cent rally from the March lows, shows data from ACE Equity. Investors typically consider shares of fast-moving consumer goods (FMCG) companies as defensive bets, putting their weight behind them in a falling market.
Five years after his promise to build a people's car, Ratan Tata will hand over the key of his dream project--the Nano- to its first customer on Friday.
The Tata Group and three other top business houses have joined hands with the Jharkhand government to ensure medical treatment to the state's below poverty line population.
We visit Singur and find that farmers are reluctant to give up their land for an automobile plant.
In India, the company serves customers such as stock exchanges, brokers, non-banking financial companies, financial services and insurance, IT and IT-enabled services.
Tata Motors, whose proposed people's car project in West Bengal has run into land acquisition problems, on Wednesday virtually set an end-of-the-year deadline for taking possession of the site at Singur.
Tata group-owned AirAsia India's inability to get approval for international flights is hurting UDAN, the Indian government's regional air connectivity project that also aims to link cities in Northeast India and Odisha to places abroad. Sources said the civil aviation ministry is waiting for the low-cost airline to come under the full ownership of Tata Sons and become part of Air India, the former state-owned carrier now owned by the private conglomerate, before allowing it to operate international flights. Tata owns 84 per cent stake in AirAsia India and it is understood that the group will complete the process of buying rest of the stake by July's end.
Hemant Shivsaran lists the number of projects the Modi government has announced since August to woo Gujarat voters.
Anil Ambani Group company Reliance Energy, top conglomerate Tatas and engineering giant L&T are among the shorlisted bidders for upgradation of Amritsar and Udaipur airports, financial bids for which will be invited by month-end. Airport Authority of India (AAI) had shortlisted five bidders each for the two airports. AAI will invite the request for proposals by month end and the outcome of this will be known possibly by middle of June. Fraport and Lanco are also shortlisted.
'A lot of people who quit felt they have been in the organisation for way too long and needed a better or challenging career role to advance in their careers.'
Equity benchmarks climbed in early trade on Wednesday amid an overall positive trend in the global markets and ahead of the presentation of Union Budget 2023-24. The 30-share BSE benchmark Sensex jumped 516.97 points to 60,066.87. The broader NSE Nifty climbed 153.15 points to 17,815.30.
There is little appetite among combat aircraft engine makers to share the IP that results from a co-creation project. But Rolls-Royce is willing to walk the Aatmanirbhar talk.
Modi will also perform the ground-breaking ceremony for the building, which is expected to be completed by 2022 at an estimated cost of Rs 971 crore.
Many CEOs said they plan to give special leave to women employees so as to encourage their participation in the workforce.
In the domestic market, the Tata Group has lost ground in the passenger car business.
Notwithstanding expectations of a pick-up in construction activity during a seasonally strong January-March quarter (fourth quarter) of 2022-23 (FY23), analysts are cautiously optimistic about the building material sector - encompassing paints, pipes, wood panels, tiles, metals, and cement - as volatile input costs, coupled with fears of a global slowdown, are making demand projections uncertain. Against this backdrop, analysts suggest investors stay selective and pick stocks of companies with stronger brand recall, expanding distribution network, diversified product profile, healthier balance sheet, and sustainable cash flow. "The government's various proposals under Budget 2023-24 (FY24) may lead to the building material segment growing between 8 per cent and 12 per cent for the next five years.
The reopening of China has led to an ongoing readjustment of the global metals and commodities markets. China has a massive production capacity surplus to its own domestic demand. At the same time, it also has high domestic demand. China is also becoming carbon sensitive.
India's aviation industry could return to profitability in 2023-24 for the first time since the pandemic. The industry may pare aggregated net loss by 75-80 per cent year-on-year (YoY) to between Rs 3,500 crore and Rs 4,500 crore in 2022-23 (FY23), compared with Rs 17,500 crore of net losses in 2021-22 (FY22). A combination of recovery in passenger volumes and easing cost pressures due to stable fuel and foreign exchange (forex) costs could spark a turnaround. CRISIL says domestic and international passenger traffic recovered to 90 per cent and 98 per cent, respectively, of pre-pandemic traffic (2019-20, or FY20), in April-December 2022, compared with April-December 2019.
While the market for satellite broadband currently is small, the potential is large as an estimated 30 per cent of the country does not have reliable terrestrial broadband services.
Sen said that as per the lease agreement, concluded recently with the company, it would have to pay a lease rent of Rs 1 crore per year for the first five years to the state.
Shankar Prajapati, a 57-year-old potter in Dharavi, has given up hope of getting a bigger house for his family. He lives cheek by jowl in a hutment measuring 200 square (sq.) feet (ft) in the nondescript shanty town. "We have surrendered to our fate. We cannot wait forever for better accommodation. "Perhaps we are not meant to dream big," despairs Prajapati. Raju Korde, president, Dharavi Redevelopment Committee, and a local resident, agrees with Prajapati.
The compensation package for land acquisition decided by the West Bengal government is very generous, so why are the farmers protesting?
However, the IT firms will get some benefits, as software exports from their Chinese campuses will yield more in local currency
'The untimely demise of Shri Cyrus Mistry is shocking. He was a promising business leader who believed in India's economic prowess,' Prime Minister Modi said in a tweet.
Indian Parliament's new building will have a triangular shape to reflect the importance of triangles being a sacred geometry in various religions, while its interiors will have three national symbols as their main themes -- Lotus, Peacock and Banyan Tree.
India's largest IT services player Tata Consultancy Services (TCS) saw its $2 billion, 10-year deal with Transamerica Life Insurance Company come to an end even before the period was over. Transamerica is the subsidiary of American arm of Dutch insurer Aegon NV. This is not the first time such a long-term deal has been called off. Earlier this year, UK's National Employment Savings Trust (NEST), ended a $1.8-billion deal with French IT services player Atos.
Company says that this is a long-term plan as it continues to evaluate options.
Under the deal, Lockheed will shift its Fort Worth, Texas plant to India without directly affecting American jobs.
Firms are still barred from holding board positions in the special purpose vehicle that will develop the airport.
Indian IT services companies have seen several CEO changes that have, over the past few months, led to some crucial exits at the mid-senior level in a trend that is likely to continue. According to a recent Motilal Oswal report, "Movement of mid-to-senior leadership at IT services firms is a reality, partially on account of multiple CEO-level changes.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Benchmark equity indices Sensex and Nifty closed higher by more than half a per cent on Wednesday following buying in IT, financial and oil stocks after the RBI slowed down the pace of interest rate hikes. Ending its two-day slide, the 30-share BSE Sensex rebounded by 377.75 points or 0.63 per cent to close at 60,663.79 with 24 of its constituents posting gains. The broader Nifty of the NSE spurted by 150.20 points or 0.85 per cent to settle at 17,871.70, riding on a rally in Adani Enterprises, Adani Ports and HDFC Life.
The headline for corporate profit growth has been very encouraging in the July-September quarter (Q2) of 2023-24 (FY24), with the combined net profit of listed companies up by 38 per cent year-on-year. However, the earnings distribution has been very lopsided, with most of the growth coming from public-sector oil-marketing companies (OMCs), banks, non-bank lenders, automobile (auto) companies, and cement producers. By comparison, companies from information technology services, fast-moving consumer goods (FMCG), retail, and consumer durables were disappointed, experiencing a sharp slowdown in net sales growth and a relatively muted increase in reported net profit.
Two multi-product SEZ projects promoted by Reliance Industries' Chief Mukesh Ambani and the Tatas are among others that would come up for clearance at the meeting of the Board of Approvals in New Delhi on Thursday.
...followed by financial services, IT, and sales and marketing.
Four companies, including India's largest private sector electricity generator Tata Power and infrastructure major Larsen & Toubro Ltd, chose not to bid for the Rs 16,000-crore ultra mega power project (UMPP) in Tilaiya in Jharkhand even as Reliance Power, Lanco Infratech and NTPC Ltd, the country's largest power producer, submitted their technical bids.
