'Companies are being forced to pay higher salaries to retain and hire employees due to a big rise in attrition in the industry.'
Suresh Raina says he was 'hurt' after being dropped from the Indian team despite performing well
Chocolate majors in India posted healthy top-line growth in FY19. While Mondelez India Foods - the marketer of Cadbury - continued to lead the pack, Nestle India, which dominates the confectionery space with leading brands like Kitkat and Munch, continues to hold the third spot in revenue. However, two of these companies - Mars International India and Hershey India - still remain in the red.
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.
ICICI Bank was the top gainer in the Sensex pack, surging nearly 3 per cent, followed by HDFC, Axis Bank, Sun Pharma, NTPC and M&M. NSE Nifty surged 119.75 points to 15,812.35.
Car deliveries during the nine-day period saw sharp year-on-year (double-digit increase for most automobile companies.
Flamboyant West Indies opener Chris Gayle has called his former team-mate Ramnaresh Sarwan "worse than coronavirus", accusing the Guyanese of plotting his exit from Caribbean Premier League outfit Jamaica Tallawahs. The big-hitting Gayle, who has since moved to St. Lucia Zouks, blamed Sarwan for an alleged fallout with Tallawahs franchise, which did not retain him for the 2020 season after playing for them as a marquee player last year.
Mid- and small-cap companies seem to have done better than top-tier companies
The outstanding credit card base dropped to 77.99 million in August from over 80 million in July, mainly on account of the new norms of the Reserve Bank of India (RBI) that warrant the deactivation of cards that are inactive for a year. While there was a 2.8 per cent decline in net card additions on a month-on-month (MoM) basis in August, a first in many months, credit card spends slipped 3 per cent on a high base. Still, spends topped the Rs 1-trillion mark for the sixth consecutive month.
Raina last played in the 50-over format in October 2015 and is making a comeback after two years and 8 months.
A playlist of 10 'so bad it's good' songs, our hostile neighbours will regret the day they decided to take panga.
At her Mumbai reception, Deepika slipped into a pair of comfortable white sneakers and partied the night away.
They'll have you grooving to their latest numbers.
The market watchdog had directed that pending completion of the probe, revenues from the co-location facility - starting September 2016 - be transferred to a separate bank account.
The increasing involvement of Big Tech in the financial system could give rise to concentration risk and there are potential spillovers, which call for closer attention, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Tuesday. "...enormous amounts of consumer data is being generated and leveraged upon by a few entities (the so-called Big Tech) by virtue of their huge customer base. "Such developments raise concerns on concentration risk and potential spillovers as their level of engagement with the financial system strengthens in the years to come," Das said at the Global Fintech Fest 2022.
The magnetism of a yo-yo... two friends getting estranged over a game shooting incident that saves lives... A short story by Ashwath Nityanandan.
With the lockdown being eased gradually, providing more and more digital solutions, for service delivery and procurement of new policies, is what the corporation is focussing on.
Among the many popular contestants on Bigg Boss OTT is television actress Ridhima Pandit.
In the first two months of the current fiscal, Indian exports of finished steel reportedly grew by almost 76 per cent on a YoY basis and China alone accounted for close to 60 per cent of the increase.
While the overall loan disbursements stood strong at 15 per cent YoY in Q2, pockets such as vehicle finance, loans to NBFCs, and business banking showed some weakness. A continued fall in these numbers may make it tough for AU SFB to defend its valuations under the current circumstances.
Experts say companies wanting to launch IPOs will have to scale back their expectations given the fall in valuations.
India's medical devices imports surged 41 per cent to touch Rs 63,200 crore in 2021-22, led by a 48 per cent year-on-year (YoY) jump in imports from China to Rs 13,538 crore, the commerce ministry data analysed by the Association of Indian Medical Device Industry (AiMeD) has showed. Local industry players say this has led to several small and medium units to shut shop. Rakesh Vaid of Usha Fabs, a garments exporter, had started making N95 masks in his Gurgaon factory during the peak of the Covid-19 pandemic.
There are multiple near-term worries for the stock of India's largest listed consumer company, Hindustan Unilever (HUL). While inflationary pressures will weigh on its profitability, demand pressures - especially in the rural market - are expected to hit the firm's revenues. This is why brokerages have cut the earnings estimates for financial year 2022-23 (FY23) by 7-10 per cent.
The trend in corporate earnings suggests that index earnings could fall to the levels last seen in early 2014.
After outperforming the broader market and their public sector peers for the better part of the post-Lehman period, private sector banks - such as HDFC Bank, ICICI Bank, Axis Bank, and Kotak Mahindra Bank - are now underperforming. Last week, the Nifty Private Bank index was up just 6 per cent year-to-date in the calendar year 2021, against nearly 13 per cent rally in the Bank Nifty and a 15 per cent rise in the benchmark Nifty50. Public sector (PSU) banks, such as State bank of India, Bank of Baroda, and Punjab National Bank, are now rally leaders and outperforming the broader market. The Nifty PSU Bank index was up 42 per cent since the beginning of this calendar year. But on a longer term, the Nifty Private Bank index is up 101 per cent since March 2016, against a 118 per cent rally in the Bank Nifty and just 2 per cent rise in the Nifty PSU Bank index in the period.
Morgan Stanley on Thursday became the latest brokerage to question the valuations of Indian equities and downgraded them from 'overweight' (OW) to 'equalweight' (EW) and recommended taking some money off the table. "We move tactically EW on India equities after strong relative gains - we expect a structural multi-year earnings recovery, but at 24 times forward price-to-earnings (P/E) we look for some consolidation ahead of US Fed tapering, an RBI hike in February and higher energy costs," Morgan Stanley equity strategists, led by Daniel Blake and Jonathan Garner, said in a note on Asia Pacific markets. The brokerage has upgraded Indonesia to OW, while maintaining an EW stance on China and UW on Taiwan.
Why Shalini Tomar decided to follow her dreams.
Suparn Verma's Web series Yo Ke Hua Bro launches on Voot on August 18.
Finance Minister Nirmala Sitharaman will kick start the customary pre-Budget consultation exercise with stakeholders from Wednesday by holding the first such meeting with experts of agriculture and agro-processing industry. She will be seeking inputs from various stakeholders, including industry bodies, farmer organisations and economists for reviving consumption and boosting growth hit by the COVID-19 pandemic. The growth this year is expected to be in the double-digit during the current fiscal.
Ten billionaires including Mukesh Ambani, Sunil Mittal are in the world's richest list.
Revenue up 15.8% at Rs 34,261 crore over year-ago period.
With liquidity crunch hitting operations, many finance companies have put the brakes on sanctions in the third quarter in the aftermath of the IL&FS crisis.
The increased tax target comes at a time when consumer spending and sales growth are slowing down and most companies are not investing in new capacities.
Housing sales jumped over 4.5 times year-on-year in April-June across eight cities to 74,330 units on lower base effect, while demand was up 5 per cent from the previous quarter, according to PropTiger data. Housing sales stood at 15,968 units in the April-June period last year and 70,623 units in the January-March quarter of 2022. The price of residential properties rose 5-9 per cent annually, driven by rise in input costs, inflationary pressures and premium attached with ready-to-move-in inventory. Pune and Chennai saw maximum appreciation at 9 per cent each.
The incumbents Bharti Airtel and Vodafone Idea recorded adjusted gross revenue of Rs 10,701.5 crore and Rs 9,808.92 crore, respectively, during the quarter.
What has hit sentiment further is a draft proposal by the government to increase vehicle insurance premiums for financial year 2022-23 (FY23). Third-party motor insurance premiums have not been increased over the last two years and if this is approved, insurance costs for specific segments could rise by a fifth. The worst impacted is the 350cc and above two-wheeler segment, where premiums are up 21 per cent. Royal Enfield (Eicher Motor) is the market leader in the segment. The premiums in the 150-350cc two-wheeler category are also being inc
World Cup-winning captain Kapil Dev said a player of Yuvraj Singh's stature should have got a farewell from the ground.
With the stock market turning choppy, fintech start-up MobiKwik, which had filed a draft red herring prospectus (DRHP) to raise around $250 million through an initial public offering (IPO), is now looking to raise money from the private market. "We will raise private money but we are not in dire need. "The business was profitable for the first time in the December quarter on a top line of around Rs 150 crore and that will be maintained in the March quarter also. We are generating cash," said Upasana Taku, co-founder of MobiKwik.
'What if Kim is alive as the latest reappearance suggests, but unable to rule?' 'Will his sister be installed as the leader to continue with the Kims's hereditary dynasty that began with the present ruler's grandfather?' asks Dr Rajaram Panda.
Consumer stocks remain the biggest laggard on the bourses. The Nify50 weighting of FMCG stocks declined to a decade low of 9.9 per cent at the end of March this year, down 150 basis points from 11.4 per cent a year ago. At their peak in March 2013, major FMCG stocks, such as Hindustan Unilever, ITC, and Asian Paints, together accounted for 15 per cent of the Nifty50. But now together with automobile stocks, the consumer goods sector accounts for only 14.7 per cent of the index, down 200 basis points in the past 12 months and 37 per cent from the record high weighting of 23.4 per cent at the end of March 2014.
