The GDP growth is estimated to come at the "deceptively high" level of 20 per cent for the April-June 2021 quarter but is far below the same in the pre-COVID times, rating agency Icra said on Wednesday. Icra said the low base of the last year, when the GDP had contracted by close to 24 per cent, "conceals" the impact of the second wave of COVID-19 infections. Economic activity is boosted by robust government capital expenditure, merchandise exports and demand from the farm sector, it said, estimating the GDP to grow by 20 per cent and the gross value added (GVA) will register a growth of 17 per cent for the June quarter.
The two-wheeler industry was hit by an increase in insurance rates, liquidity crunch, poor sentiment, rural distress and uncertainty over the BS-VI regulations, among other factors.
Investors should await consistent growth metrics before looking at an investment in the company.
Employees of some top Indian companies were in for a pleasant surprise when they received a mail from their HR team announcing a hike in salaries and bonuses. Led by IT firms and start-ups, HR managers say that while some have offered cash and stock options, others are in a wait-and-watch mode and add the trend will pick up in other sectors. For example, IT giant Cognizant - which had an attrition rate of 19 per cent in the December quarter - has established a $30-million employee retention fund in order to bring down the high attrition rate.
If financials and oil sectors were removed, India Inc has done quite well.
What worked for Airtel was that its data traffic growth was 13 per cent sequentially and its average data usage was even higher than Jio's at 11.9 gigabyte per month per user.
A record-breaking year for the world's billionaires.
Companies also said confidence was yet to return among buyers, with many holding back their decision to buy cars.
Ashwin missed three Test matches on the tour of Australia due to a left-sided abdominal strain, something that also made him miss a Test match in England.
Social media was abuzz with posts ridiculing the PM's comment. The hashtag # #YoBadalSoMandela also began to trend on Twitter.
All guests who appear on Kapil's show are being 'gently advised' to stay away from Kapil's rival shows.
Most of the index heavyweights are yet to declare their results.
The laggards include FMCG (16 per cent), Energy (37 per cent) and Media (34 per cent).
Sectors which recorded positive growth were coal, refinery products and fertiliser.
Government gets Rs 17.1 lakh crore in its kitty
Vivek Mahajan (Head - Research) Aditya Birla Money, analysed the slow IIP growth.
India's second-largest telecom operator Bharti Airtel on Tuesday posted more than twofold year-on-year jump in its consolidated net profit for the March quarter to Rs 2,008 crore, buoyed by a lift in average revenue per user and an exceptional gain. The telco said its Q4 scorecard was backed by strong performance delivery across the portfolio and its CEO Gopal Vittal, in a statement, exuded optimism about opportunities in the coming years and Airtel being "well-poised" as a company. Airtel, which competes in the market with Reliance Jio and Vodafone Idea, as well as state-owned BSNL/MTNL, promised to maintain razor sharp focus on financial flexibility, optimising the capital structure and finance cost.
Bajaj Auto and TVS Motor are the largest exporters in the listed space with export revenues of Rs 12,000 crore and Rs 5,000 crore.
However, despite Covid, Indian markets registered their best financial year performance in a decade, with the Sensex and Nifty50 rallying 68 per cent and 71 per cent, respectively, in FY21.
In November, DRL registered growth of 28 per cent year-on-year (YoY), which was the highest among peers and double that of the industry growth (14.5 per cent).
While Covid-related sales may come down going ahead, analysts expect the company's domestic sales to outperform the market, led by the chronics portfolio, which accounts for 55 per cent of sales.
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.
Pant and Rayudu's exclusion from the squad of 15 had created quite a stir on Monday. While Sunil Gavaskar called Pant's omission surprising, the snub to Rayudu was questioned by Gautam Gambhir.
The stars are on the Temptations Reloaded tour.
Chennai Super Kings head coach Stephen Fleming said that captain Mahendra Singh Dhoni would play a 'more prominent' role as a batsman in the upcoming Indian Premier League by batting 'relatively high' in the order.
Here's what your favourite Bollywood celebrities are tweeting:
The newest hotties on the block? See for yourself!
Reliance Industries on Friday reported a 41.5 per cent jump in its third quarter net profit as oil, retail and telecom businesses fired on all cylinders. Net profit of Rs 18,549 crore in October-December compared with Rs 13,101 crore a year back, the company said in a stock exchange filing. Income from operations rose to Rs 1.91 lakh crore from Rs 1.28 lakh crore.
The stars performed to a packed house in Malaysia.
The COVID-19 pandemic has not only affected outpatient services, but also led to deferment of elective surgeries, and resulted in the loss of medical tourism, all of which would hit the FY21 financials.
For Paris-headquartered IT services major Capgemini, India has always been the backbone of its services delivery for its global clients, but the company is focused on driving more value from India as it gears up its engineering research and development (R&D) presence worldwide with its acquisition of Altran Technologies. The company, which has about 149,000 employees in India, is looking to hire 60,000 associates this year. Of them, 30,000 will be recruits from campuses and the rest lateral entrants. For Ashwin Yardi, chief executive officer India, Capgemini, the focus is to make sure that the India unit is aligned with the global plans of repositioning the company as a hub of engineering R&D, operational technology, and IT.
Analysts tracking Apple said the India results were glimpses of what the company could achieve in emerging markets with a right pricing strategy for its products and local manufacturing.
Starting from a chartbuster song despite its below-the-belt essence and ending with a forgettable number, Bhaag Johnny demonstrates quite some range, says Aelina Kapoor.
Housing sales across seven major cities in the country fell 35 per cent year-on-year to 50,983 units during the July-September period even as the demand recovered post lockdown, according to data analytics firm PropEquity. Sales stood at 78,472 units in the year-ago period in seven cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad and Pune.
TCS was the top gainer in the Sensex pack, rising over 3 per cent, followed by L&T, Bharti AIrtel, HCL Tech, Tata Steel, Bajaj Auto and Reliance Industries. NSE Nifty rallied 164.70 points to its fresh closing peak of 16,529.10.
B-town celebs spotted at Global Indian Music Academy awards.
Sarfraz and his men must heed the advice from someone who famously galvanised a traditionally fractious side to World Cup glory in 1992.
Some of the top indebted companies likely to face financial headwinds in the coming quarters include NTPC, PowerGrid, Tata Steel, Adani Power, JSW Steel, UPL, and Steel Authority of India. Together these 201 companies owed Rs 14.9 trillion to their lenders at the end of September 30, 2019, up 4.1 per cent year-on-year (YoY) during the first half of FY20.
