India's IT and business services market is expected to grow 5.4 per cent annually to reach $13 billion by December this year, research firm IDC said. The segment grew 5.3 per cent year-on-year (y-o-y) in January-June (H1) 2020 period as compared to 8.9 per cent growth in H1 2019, IDC said in a report. Of the IT and business services market, the IT services market contributed 77.4 per cent in H1 2020, growing 5.9 per cent y-o-y as compared to 9.3 per cent growth in the year-ago period.
Rising crude oil prices, traction in China equities and inflation concerns back home are casting a shadow on the Indian equity markets in the short term, believe analysts at Jefferies. They said this could see the markets remaining range-bound in the near term before the next leg up.
Footfalls increase at retail outlets and auto dealers, but conversions fall.
Bharti's operating margin for India wireless business grew 80 basis points sequentially to 34.9 per cent.
189 people working at 59 Indian airports were found drunk on duty in the first half of this year, marking a 32 per cent year-on-year increase.
India's domestic passenger traffic slipped to a 10-year low at an estimated 53.4 million in the just-concluded financial year, a report said. However, in the previous fiscal there were no passenger flight operations for almost two months due to the pandemic-induced lockdown. During the financial year 2010-11, all domestic air operators together had flown a total of 53.8 million passengers on local routes, according to ratings agency ICRA. The domestic passenger traffic in March 2021 has been estimated at around 77-78 lakh, a marginal decline of about 1 per cent over February during which airlines had flown around 78.30 lakh passengers, it said.
The argument that India is going towards a 'Hindu rate of growth' is "ill-conceived, biased and pre-mature" when weighed against the respective data on savings and investments, said SBI Research in its Ecowrap report. The term Hindu rate of growth was coined by economist Raj Krishna in 1978, which denoted the economic growth of about 3.5-4.0 per cent in terms of GDP during 1947-1980. "India's quarterly sequential Y-o-Y GDP growth has been in a declining trend in FY23.
The problem is actually acute in the diamond jewellery industry where there is no uniform criteria of inventory valuation unlike gold, whose prices are uniform and widely quoted.
The average housing prices declined by 2-7 per cent year-on-year during July-September in Delhi-NCR, Mumbai, Chennai, Pune, Kolkata, and Ahmedabad on lower demand amid COVID-19 pandemic, according to Knight Frank India. Prices, however, increased in Bengaluru and Hyderabad by 3 per cent and 4 per cent, respectively, during July-September 2020 compared with the year-ago period. Chennai saw the maximum fall of 7 per cent, followed by Delhi-NCR and Pune at 5 per cent. Rates dipped 3 per cent each in Kolkata and Ahmedabad, while Mumbai witnessed 2 per cent price correction.
The growth in two wheelers were triggered by couple of factors such as 4 per cent excise duty cut announced in stimulus package in December 2008, fuel price reduction of Rs 5 per litre in petrol and Rs 2 per litre in diesel as well as the unaffected and untapped demand from the rural market.
The curious case is of Honda, which has moved up the pecking order while actually losing market share!
Domestic jet fuel prices are up 7%, but are still 14% lower on a y-o-y basis. While lower fuel prices have brought respite to airlines, their non-fuel costs are rising because of rupee depreciation
Zomato has lost over 9 per cent thus far in calendar year 2023 (CY23) and has underperformed the S&P BSE Sensex that has slipped nearly 5.3 per cent during this period. Despite this underperformance, analysts at HSBC think that the stock can hit Rs 87 going ahead - up over 64 per cent from the current levels. The food delivery industry, wrote Yogesh Aggarwal and Abhishek Pathak of HSBC in a recent note, has slowed considerably in the last few months.
The top line is in trouble, but lower prices of inputs have helped companies salvage profitability. That's not helping their bottom lines though - net profits have slipped sharply.
The 6.7% growth in Index of Consumer Sentiments in July 2022 is the highest since September 2021, explains Mahesh Vyas.
The mobile data revenue at Rs 2,324 cr registered a growth of 70 per cent
The growth in new business premium for private sector players slowed down to 53.6 per cent y-o-y for March 2008 compared with 90.5 per cent y-o-y for the period beween April 2007 and February 2008. That dragged down the growth for the full year of 2007-08 to 83.7 per cent from 103.8 per cent in the prvious year. The slowdown was more marked for public sector Life Insurance Corporation.
Despite Covid downturn, CEO salaries went up by an average of 19% in FY21.
The stock of the retail chain Avenue Supermarts (Dmart) was the biggest loser in the BSE 100 Index shedding 4.35 per cent on Thursday and added to these losses on Monday by falling an additional 1.3 per cent. The Street was reacting to lower than expected operational performance by the company in the March quarter. The country's largest listed retailer by market capitalisation reported a 20 per cent year-on-year (y-o-y) growth in its top line to Rs 10,337 crore.
'You may opt for a longer minimum guaranteed tenure of 12-18 months. This will ensure that in a rising rental scenario, the landlord doesn't serve you a notice and ask you to vacate the property.'
Food and fuel are two perennial areas of concern.
That resulted in a 50-basis point improvement in operating profit margins on a sequential basis.
The Q2 revenues of the company stood at Rs 6,953 crore (Rs 69.53 billion), up 8.5% over the previous quarter.
Economic Advisor to the Tata Group Siddhartha Roy tells Business Standard the economy may be slowing down.
The broader market performance, however, is expected to be better by virtue of good performance of state-owned banks on a low base.
RBI is likely to have reached broadly similar conclusions since it did cut rates, presumably to stimulate activity.
V G Mathew, managing director and chief executive officer of South Indian Bank speaks to Gireesh Babu, about demonetisation impact, rights issue and future plans.
India Inc's quarterly net profit reached a record high of Rs 1.64 trillion in the third quarter ended December 31, 2020, mainly due to gains from higher commodity prices and a big swing in banks' earnings. The combined net profit of 3,323 listed companies that have declared results so far was up 68.6 per cent year-on-year (YoY). In comparison, earnings were up six times (534 per cent) in the second quarter and 6.5 per cent in the corresponding period last year.
Check out some of the stocks that will react on the basis of their numbers in the near term.
Reliance Industries Ltd on Friday reported a 15 per cent drop in its net profit to Rs 15,792 crore for the third quarter, according to a company's stock exchange filing. The net profit of Rs 15,792 crore in October-December 2022 compares to Rs 18,549 crore a year back.
Revenues rose 7.7 per cent to $1.54 billion during the review period, from $1.43 billion in the corresponding quarter last fiscal.
CAD refers to the difference between inflow and outflow of foreign exchange that has a bearing on exchange rate.
Revenues of Indian companies, excluding those engaged in banking and oil, are expected to grow marginally at 5-6 per cent in the first quarter of this fiscal.
Among the stocks that have seen the largest cut by MFs, the DVR shares (shares with differential voting rights) of Tata Motors have seen a cut of 243 basis points (bps) in MFs' stake.
Consolidated net debt of Airtel increased by 24 per cent to Rs 97,395.2 crore.
Prices in Bengaluru, the National Capital Region, Hyderabad and Ahmedabad, however, witnessed an uptick during the period.
Housing sales are likely to rise by 30 per cent across seven major cities to nearly 1.8 lakh units in 2021, but demand will still be lower than the pre-COVID levels, according to property consultant Anarock. According to Anarock research, housing sales are expected to increase 30 per cent year-on-year (y-o-y) to 1,79,527 units across seven cities in 2021 from 1,38,344 units last year. In 2019, housing sales stood at 2,61,358 units across seven cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, Bengaluru, Hyderabad, Chennai and Kolkata.
Analysts worry about possible loan waiver.
Revenue share from India has inched up to nearly 0.8 per cent of its global sales. The revenue growth rate is in stark contrast to the firm's performance in volume terms.
Housing sales fell by about 30 per cent last year in seven major cities due to costlier flats and higher interest rate, says property consultant CBRE.
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