The bigger worry is that the miss for FY19 is likely to be significant even after assuming macro factors such as crude oil prices, rupee, input costs, and interest rates, do not worsen from the current levels, reports Vishal Chhabria.
Analysts said the demand recovery in two-wheeler and car segments was skewed towards the semi-urban and rural markets.
With their net debt estimated at Rs 1.15 trillion, the merged entity will not be in much of a position to dole out freebies, says Romita Majumdar.
Its consolidated net sales was Rs 3,773 crore (Rs 37.73 billion).
India's factory output climbed 22.4 per cent in March, benefiting from the base effect of the lockdown-marred month a year back as well as a turnaround in the manufacturing sector, while retail inflation slipped to a three-month low of 4.29 per cent in April. The high positive annual growth in the index of industrial production (IIP) in March 2021 came on back of a contraction of (-)0.9 per cent and (-)3.4 per cent in January and February 2021 respectively, according to the data released by the National Statistical Office (NSO) on Wednesday. This turnaround was led by recovery in the mining, manufacturing and electricity sectors.
Bangalore based Wipro Technologies announced its Q1 results on Thursday. Compared to the last quarter, its net profit dropped to Rs 726 crore
International brands such as Daikin, Hitachi and Samsung, which were largely present in the premium products range, are getting aggressive on expanding their mid-range portfolios to penetrate into smaller cities and towns. While competition isn't hurting Voltas just yet, which has managed to retain its market share at 24.4 per cent as of September 30 (Q2), the main question is whether the company can defend its market share without compromising on profitability.
The move comes after Neeraj Kanwar's reappointment as managing director was rejected by minority shareholders owing to his salary, which increased in spite of a fall in the company's profitability.
Total revenue came in at Rs 20,422 crore for the September quarter, which was 6.2 per cent lower than Rs 21,777 crore notched in the year-ago period.
Without accounting for refunds, however, the collection contracted 5.4 per cent, indicating muted economic activity as the Covid-19 pandemic and subsequent curbs paralysed most sectors.
Fresh investments by corporates up just 5.8% in FY17, lowest since 1992
If the interest rate on bank deposits is linked to any external benchmark, it would jeopardise the banks' fund-raising ability. Interest rates on small savings schemes are likely to be reduced very shortly, to maintain parity. All these steps would indeed affect retired people, and particularly those dependent on interest income, says Arindam Gupta.
Tata Group shares were among the top losers while Adani Ports emerged as the top gainer
Excerpts from CNBC-TV18's exclusive interview with Sushil Gupta and Vivek Nair.
India's cash-rich promoters are not the same as the wealthiest. For example, Mukesh Ambani is the richest Indian based on his stake in Reliance Industries, followed by Premji, the Adani family of the Adani group, and Radhakishan Damani of Avenue Supermarts.
While most experts suggest the government loosen its purse strings and not worry about the fiscal deficit in a pandemic impacted year, it will be a tightrope walk for the government to increase spending without going overboard.
Average data usage on Airtel India network grew about three fold to 2611 megabyte (about 2.5 GB) per customer from 904 MB on YoY basis. But the average revenue from the data services per customer declined by 22.7 per cent during the period.
As global economies contract because of the Covid-19 pandemic, the focus of most of the India Inc has now moved back to the home market where demand is expected to pick substantially from the coming festival season.
Infosys Technologies Ltd has announced the following audited results for the quarter and year ended March 31, 2006
Thanks to the recapitalisation by the government and measures taken by the central bank, collapse of any large housing finance company won't pose as big a risk as it had six months ago.
Global IT Services and Products Profit before Interest and Tax (PBIT) was Rs 416 crores (Rs 4.2 billion).
The S&P BSE Midcap and the S&P BSE Smallcap indices slipped in red to shed over 1% each
In absolute terms, the CAD stood at $4.6 billion in the current fourth quarter, compared with $13 billion in the year-ago quarter and $17.7 billion in the third quarter of fiscal year 2018-19.
The IT major's Q2 revenues stood at Rs 2,294 crore (Rs 22.94 billion).
'Loss of these urban salaried jobs is, therefore, likely to have a particularly debilitating impact on the economy, besides causing immediate hardship to middle-class households,' points out Mahesh Vyas.
After six weeks into the second half, the faltering offline channel, which traditionally rakes in 60 per cent of sales for the market, has become the biggest hurdle towards the path of revival.
'Retail investors have been selling since the Budget and Foreign Portfolio Investors started selling.' 'Thus far, domestic institutions have picked up the slack, buying enough to keep the major indices from falling off a cliff.' 'However, there has been carnage in smaller stocks and the financial sector has been hit much harder than the major market indices,' points out Devangshu Datta.
According to Japanese financial services major Nomura, despite slowing external demand, the domestic growth cycle is improving.
After contracting for two quarters in a row, the Indian economy entered the positive territory with a growth of 0.4 per cent in the October-December quarter, mainly due to good performance by farm, services and construction sectors, official data showed on Friday. Trade and hotel industry registered a contraction of 7.7 per cent during the third quarter this fiscal, as the sectors continued to suffer on account of coronavirus pandemic. According to the data released by the National Statistical Office (NSO), the farm sector recorded a growth of 3.9 per cent, and the manufacturing sector output grew by 1.6 per cent in the quarter under review.
Investors build up huge expectations, often irrational, and then expect the company to live up to the same.
If risks arising from high crude prices, corporate performance and valuations of stocks are overlooked, equities may become too hot to handle for investors.
Apart from favipiravir and remdesivir, its key Covid-19 products, DRL has already launched nutraceutical products and hand sanitisers during the pandemic.
Analysts expect sales growth of Sensex firms to drop to 14-quarter low of 5.6%; Poor show by Tata heavyweights, BHEL and ONGC could drag earnings down.
Domestic tyre demand is seen to grow by 7-9 per cent over the next five years.
On the volume side, the number of M&A and PE deals was 110 in July, 15 per cent lower from 130 in July 2018.
Markets ended lower amid volatile trade with Sun Pharma leading the decline.
This global workforce reshapes how companies around the world operate, innovate and compete, informs Shankar Srinivasan, Chief People Officer, Cognizant
A mixed global trend and weakness in rupee influenced the sentiments during the day.
Improvement in load factors, coupled with an increase in seat capacity after Jet's slots were allotted to low-cost airlines, has resulted in an increase in daily passenger traffic.
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