The adverse impact on the margins of auto, consumer staples and consumer durables sectors will be counterbalanced by an earnings uptick in the metals, cement and oil & gas sectors.
Project, infrastructure sector emerged as the top employment generator in March with 12 per cent rise in demand while petrochemicals industry reported 9 per cent growth.
All Sensex components ended in the red. IndusInd Bank was the top loser, followed by Tata Steel, HDFC, ICICI Bank, Axis Bank, Infosys and ITC. According to traders, volatility heightened in global markets as US Federal Reserve's interest rate cut stoked concerns over an impending economic recession.
At the World Bank Banga will be replacing David Malpass, a former Trump treasury official, reports axios.com. Malpass had already announced that he will resign by July, months ahead of his term expired. "Ajay is uniquely equipped to lead the World Bank at this critical moment in history," President Biden said in a statement. Banga, 63, currently serves as vice chairman at General Atlantic.
'If the third wave of Covid infections is as bad as the second one, the market may get very polarised with a preference for blue-chips with low volatility.'
Currently, the country is using two 'made-in India' jabs -- Covishield and Covaxin -- to inoculate its billion-plus population and has administered 20 crore doses since launching the world's largest vaccination drive in mid-January. A third vaccine, Russian-made Sputnik V, has been approved by the government and is being used on a smaller scale at present.
India Inc says way forward is for Modi govt to work with other political parties to get bills passed.
'In the medium to long term mid-caps tend to generate higher returns, albeit with increased volatility.'
The govt's willingness for change and 'feel good' factor has boosted sentiments.
Embattled billionaire Gautam Adani on Thursday spoke publicly for the first time since his ports-to-energy conglomerate publicly battled a short seller's accusation of stock manipulation and accounting fraud, saying the abrupt move to withdraw a fully-subscribed share sale at his flagship firm was due to market volatility. His group continued to lose on the stock market, with the cumulative rout now nearing $108 billion in a week -- one of the biggest wipeouts in India's history. "After a fully subscribed follow-on public offering (of Adani Enterprises Ltd), yesterday's decision of its withdrawal would have surprised many.
The employees often look at these meetings as a barometer.
Equity indices overcame a wobbly start to clock gains for the third session on the trot on Tuesday, propped up by banking, metal and energy stocks amid a mixed trend in global markets. A recovery in the rupee also bolstered sentiment, traders said. The 30-share BSE Sensex advanced 246.47 points or 0.45 per cent to settle at 54,767.62 after starting the trade on a weak note. In a volatile session, the benchmark hit a high of 54,817.52 and a low of 54,232.82 during the day.
Work is underway in identifying global companies in sectors ranging from electronics, auto components and medical equipment to shift part of their existing or incremental manufacturing to India.
This year, the combined net profit of 24 index companies, which have declared their June-20 numbers, has declined by 37 per cent year on year, while their revenues, including other income, is down by 21 per cent YoY so far.
The ban in India would hit Chinese internet companies that were making headway in the world's fastest-growing mobile market.
'It's the brazen corruption involving politicians that makes you sit up years after the event,' notes Nivedita Mookerji after reading B K Syngal's Telecom Man.
'Re-evaluate your career goals and be ready to embrace challenges. ' 'Work thoroughly on your resume by highlighting the key skills and major areas of work.' 'Check and apply for jobs posted by employers regularly.' 'Stay positive.'
Budget has laid emphasis on enhancing expenditure in farm & rural, and social sector including healthcare, education, skill development, job creation and infrastructure
'During the course of these two years, as new people have joined, we have no mental picture to associate with them and hence, have little connection with them.'
Metal prices from copper to aluminum and tin have shot up by about 7-32 per cent in the past three months.
As if wanting to be an antidote to the coronavirus pandemic, the Indian stock market adorned carnival robes in 2021 with a tsunami of liquidity unleashed by global central banks coupled with supportive domestic policies and the world's largest vaccination drive sparking off a world-beating rally on Dalal Street, despite bouts of uneasiness over fizzy valuations. While the wider economy shuttled between recovery and relapse, dictated by multiple mutations of the virus, equity market benchmarks appeared headed in just one direction -- skywards. The dizzying upward journey has added a whopping Rs 72 lakh crore during 2021 to investors' wealth, measured as the cumulative value of all listed shares in the country, taking it to nearly Rs 260 lakh crore.
Facebook Inc is launching an open platform for online content and application developers to join its Internet.org service.
India's latest GDP numbers do not signal robust economic growth in near term.
Narendra Modi's diplomacy and persuasive prowess has ensured long-term investments from China and Japan.
Firm says the proposed drones can also be used to identify other such objects, along with aircraft, plying within Indian skies
Contributions made to public funded universities, IITs, national laboratories and autonomous bodies engaged in conducting research in science, technology, engineering and medicine has now been recognised as part of CSR by the government.
The same set of companies had reported 3.8 per cent annual net profit growth in the previous quarter and 7.5 per cent annual growth in the same quarter last financial year.
Search is on for reliable indicators of underlying activity.
Slowdown persists in China. India's GDP estimates for 2015-16 are liable to be pared; projections for 2016-17 are lacklustre.
The NSE Nifty, comprising 50 shares, breached the 8,300-mark for the first time to hit a new lifetime high of 8,330.75.
"The shift is gradually happening more on account of favourable risk-reward for stocks in these sectors and the shift would be more pronounced as investors roll over their targets to 2017," the head of research at a foreign brokerage said.
For FY14, the first full year of the law's implementation, the spend could go up to nearly Rs 8,700 crore (Rs 87 billion), given that India Inc's profitability has grown at a compounded 7.5 per cent annually in the past three years.
These have been selected based on the earnings growth prospects and favourable (buy) ratings by brokerages
"We are delighted to welcome Google as a strategic investor in Jio Platforms. We have signed a binding partnership and an investment agreement under which Google will invest Rs 33,737 crores for a 7.7 per cent stake in Jio Platforms," Mukesh Ambani said at the company's annual general meeting.
US congressional leaders on trade and finance wrote to the US International Trade Commission calling for a second investigation into India's 'unfair' trade practices, detailing any changes under Modi.
Among all types of phones, Micromax ranks third in India after Nokia and Samsung Electronics.
Most top industrialists rate PM's first 100 days in office as 'good', primarily due to his intentions, not concrete policy measures.
In an interaction with Jash Kriplani, A Balasubramanian, managing director and chief executive officer, Aditya Birla Sun Life Asset Management Company, shares his optimism on what makes him believe that these cuts can help in addressing multiple issues plaguing the economy, without letting fiscal deficit pose any major risk.
Prime Minister Narendra Modi will on Friday launch two schemes of the Reserve Bank of India (RBI) that may go a long way in changing how the household sector invests, and complains if anything goes wrong with their savings. These schemes - retail direct and an integrated ombudsman - will be launched by the Prime Minister virtually, in the presence of Finance Minister Nirmala Sitharaman. With the introduction of retail direct, a common man can directly take a position in government securities (G-Sec), considered to be the safest asset class a sovereign can offer.
Indeed, there were frauds, and the politician-banker-industrialist nexus played a role in the rise of NPAs, but governance issues in Indian banking are far more nuanced and complex, reveals Tamal Bandyopadhyay.
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