'We do not know when we will get to the business-as-usual mode.' 'Many borrowers may not be able to pay up.' 'The incidence of cheque bouncing has doubled or even trebled, some lenders say,' says Tamal Bandyopadhyay.
S&P BSE Midcap shed 0.8% while S&P BSE Smallcap tumbled 0.6%
The Petroleum Federation of India, the apex body of public and private oil firms, has submitted to the oil ministry a 100-day agenda for the new government. On top of its list is decontrol of petrol and diesel prices. Currently, public sector retailers sell auto fuel at government-dictated rates, which the private sector competition is unable to match in times of high input cost (crude oil prices).
The new model, which is based on the company's fifth generation HEARTECT platform, comes with a BS-VI compliant one-litre petrol engine with a claimed fuel efficiency of 21.7 km per litre.
In the Sensex kitty, ITC turned star performer by surging 2.45 per cent, followed by NTPC rising 2.19 per cent.
Not only FMCG companies but even banks, auto, telecom and retail companies are finding it difficult to keep themselves away from the lure.
Have a Plan B in place if the tide turns against you.
The electric vehicle evolution in India's passenger vehicle market has remained frozen in time and may see limited adoption over the next decade, experts say.
India Inc's hiring activity picked up by 1.3 per cent in July with improvement in recruitment in IT, real estate and retail sectors, says a survey by job portal Naukri.com.
Most of the hirings are, however, in the entry or junior level.
Essar Oil has decided to cut petrol and diesel prices in the range 50 paise to Rs 2.50 per litre effective from July 16.
SBI is the first major state-run bank to hike lending rates after short-term rates rose as a result of the Reserve Bank of India's liquidity tightening moves announced in July.
'This is for the first time home loan rates have dropped below 7 per cent,' notes Tamal Bandyopadhyay.
For the first time in seven months, state-run fuel retailers are making losses on selling diesel and together with negative returns on petrol, LPG and kerosene, the companies may lose Rs 38,700 crore (Rs 387 billion) in revenues this year.
The country's largest private sector lender, ICICI Bank, on Thursday slashed its benchmark lending rate by 50 basis points to 15.75 per cent, a move that would benefit the bank's home, auto, consumer and corporate loan borrowers.
The repo rate, at which the central bank lends to the system, will come down to 5.75 per cent after the cut.
The auto major is eyeing 20 per cent of the compact SUV market with the petrol and diesel variants of the XUV300, reports Shally Seth Mohile.
The laggards in the Sensex kitty were Vedanta, Tata Steel, M&M, HCL Tech, Bharti Airtel, Maruti Suzuki, L&T, Asian Paint and HDFC
Close on the heels of the Mukesh Ambani-controlled Reliance Retail's possible entry into the second-hand car market, Tata Motors, the country's second largest automobile major, is planning a similar foray.
German insurance giant Allianz is planning to widen base in India with foray in banking business through its unit Dresdner Bank, besides expanding its existing non-banking financial services.
The FIIs' stake in Reliance Industries has increased from 20.22 per cent at the end of the March 2007 quarter to 20.85 per cent at the end of the June 2007 quarter, according to the BSE's shareholding pattern data.
Three stockmarket experts give their best picks for the New Year.
The Sensex resumed lower at 28,566.50 and dropped further to 28,183.32 before finishing at 28,227.39, showing a loss of 490.52 points or 1.71 per cent.
State-run retailers IOC, BPCL and HPCL may lose about Rs 45,000 crore (Rs 450 billion) on selling auto and cooking fuels below cost this fiscal, two-third of which will be compensated by the government by issuing bonds.
Production at every automotive facility, offices of information technology firms and retail establishments in the state remained shut on Tuesday as a mark of respect to the late chief minister.
However, compared to August, vehicle sales increased by 15.25 per cent on the back of discounts. Maruti led the market in offering heavy discounts and incentives for buyers and dealers, reports Arindam Majumder.
Strong festive demand in October helped carmakers register a seven-per cent volume growth in the domestic market, even as the largest player, Maruti Suzuki, reported low single-digit growth.
Vehicle sales across categories registered a decline of 8.62 per cent to 20,86,358 units from 22,83,262 units in May 2018.
Sensex eneded 374 points higher on rate cut expectation from the RBI.
The broader NSE Nifty gained 22 points to 10,480.60
Further stimulus measures are expected in the upcoming Budget where the focus is likely to be on reforms, including some structural measures such as reducing red tape and boosting foreign direct investment. The meeting with industrialists is in the series of discussions that Modi has had during the last couple of weeks to seek suggestions to revive growth.
Home, auto and other retail loans from SBI and Union Bank of India will cost more, with the two public sector banks on Thursday announcing an identical 0.5 hike in their benchmark prime lending rates to protect margins.
The reduction in auto fuel prices today was the fifth cut in two months on back of softening global oil prices.
Infosys was the top gainer in the Sensex pack, rising 2.36 per cent, followed by HDFC Bank up 1.39 per cent.
The country's largest marketer of petroleum products is facing troubles in Sri Lanka, one of the two overseas markets where it sells fuel through its fully owned subsidiary, Lanka IOC. The other country is Mauritius.
Though figures of losses are yet to be ascertained, the local business community put them in crores.
Processing fee waived on car, gold and personal loans till December
The measures government takes next to push economic growth will be the key for automotive sector
Toyota's India unit will also source two cars manufactured by Maruti Suzuki, the Baleno and Brezza, including their hybrid variants, and in return Toyota will offer its Corolla sedan to Maruti.
Cisco, the global leader in networking for Internet, on Tuesday announced their strategy to tap into India's fast growing small and medium businesses in auto component manufacturing, retail, textile and garment sectors.
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