According to sources, government officials have asked industry bodies and manufacturers to submit key concerns and requirements to begin manufacturing activity.
'While foreign institutional investor flows are still negative, they will turn positive in the latter part of 2023 as India's resilient growth becomes perceptible.'
Skylark Drones, a leading drone platform company that counts Tata Steel, Ultratech Cement, Softbank Energy among its customers has secured $3 million in a pre-series A funding round. It would use the funding to strengthen its product offerings and fuel international expansion.
Mixed earnings and not so encouraging macroeconomic data dented sentiment, Ajit Mishra, VP - Research, Religare Broking Ltd said. In twin blows to Indian economic revival, higher food prices drove retail inflation to a five-month high of 7.4 per cent, while factory output fell for the first time in 18 months. The second consecutive month of rise in consumer price index (CPI)-based inflation will add to the pressure on the Reserve Bank of India (RBI) to again raise interest rates to tame high prices. In the broader market, BSE Midcap declined 0.73 per cent while smallcap dropped 0.45 per cent.
End users should take the plunge despite higher home loan rates as these tend to be cyclical.
Don't be surprised if growth in the second half of the financial year drops below 4%, which is where it was in the year before the pandemic, warns T N Ninan.
Equity markets began the new financial year with smart gains on Friday, with the Sensex rallying over 708 points to recapture the crucial 59,000-mark following gains in index majors HDFC twins and Reliance Industries, along with foreign fund inflows. On the first day of trading in the new financial year, the BSE barometer rallied 708.18 points or 1.21 per cent to settle at 59,276.69. During the day, it jumped 828.11 points or 1.41 per cent to 59,396.62. The broader NSE Nifty advanced 205.70 points or 1.18 per cent to settle at 17,670.45.
'Very few of small investors stay invested for those three or four or five years.' 'If there's like a six month, one-year period when market is not doing well, you exit.' 'After the market has run up, you get in again.' 'This way you will never make returns.'
The excise duty cut will translate into a reduction of Rs 9.5 a litre on petrol and Rs 7 a litre in diesel after taking into account its impact on other levies.
According to the commerce and industry ministry data, during April-February 2018-19, the eight sectors recorded a flat growth rate of 4.3 per cent over the same period previous fiscal.
Nepal's decision to ban the import of non-essential items amid depleting forex reserves may hit Indian exports. The country's central bank - Nepal Rastra Bank - last week instructed commercial banks not to open letters of credit (LCs) for importing non-essential items. This is to prevent further decline of the country's foreign exchange reserves. However, it has not issued any formal communication yet.
Index of industrial production data had also shown that the sector grew at 3.1 per cent after contracting in the previous quarters.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Natural gas output rose by 6.4 per cent in June.
The record contraction in the growth rate of eight core sectors will have its impact on IIP.
"Within the broader index of industrial production, manufacturing has the largest of the weight. Having fallen off the cliff by 40.7 per cent during the April-June quarter, it is likely to witness a rebound when July IIP data is released. However, turnaround to positive growth trajectory could be some time away," Assocham said.
The words 'industry', 'industrial development', 'jobs', and 'employment' have been ringing with higher frequency since Mamata Banerjee stepped into her third term with landslide victory after a high-octane election last year. "Our government's next target is industrial development," the chief minister (CM) had been heard stating at different public meetings in the past few months - perhaps setting the tone for the sixth edition of the Bengal Global Business Summit (BGBS) slated for later this month. Investor summits by any state are about intent, big numbers, and tall claims. Yet in competitive federalism, its importance as a marketing tool is undeniable.
Only power generation grew faster in 2014 than in earlier years.
Slow growth in key sectors would also have implications on the Index of Industrial Production (IIP) number as these segments account for about 41 per cent to the total factory output.
Factories are shutting down owing to a shortage of labour and raw materials, and a lack of logistical support amid the ongoing nationwide lockdown against the coronavirus pandemic.
Slow growth in the key sectors would have implications on the IIP number as these segments account for about 41 per cent of the total factory output.
Fertiliser production dropped sharply by 11.5 per cent, crude oil by 5 per cent and natural gas by 0.9 per cent in October over the year-ago month
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Tata Motors on Monday launched the country's first CNG truck in the medium and heavy commercial (M&HCV) vehicle segment in the 28- and 19-tonne nodes. Most truck makers, including Tata Motors, currently offer CNG only in the small and light commercial vehicle segments. The company also launched a fleet of seven trucks in the intermediary and light commercial vehicle (I&LCV) segment, meant for varied applications.
Top performers were PowerGrid, ONGC, Ultratech Cement, Asian Paint, Kotak Bank and Titan. Nifty settled with a gain of 232.40 points at 14,761.55.
Moody's Investors Service on Thursday said India's rising vaccination rate, low interest rates and higher public spending drive the positive outlook for corporate sector.
Sectors which recorded positive growth were coal, refinery products and fertiliser.
The growth rate of eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity was 5.7 per cent in January 2016.
Crude oil, fertiliser and cement recorded negative growth
'Such big falls are quite frequent these days, so do not try to time this market.' 'Use big dips to accumulate quality stocks.'
NDTV founders Prannoy Roy and his wife Radhika Roy on Friday said they will sell all but 5 per cent of their remaining shareholding in the news broadcaster to Adani Group for up to Rs 647.6 crore. Roys, who founded New Delhi Television Ltd (NDTV) as India's first and largest private producer of news current affairs and entertainment television, lost their status of being the company's largest shareholder in recent weeks. This follows Adani Group becoming the majority shareholding of NDTV after first buying out a company backed by the founders and then acquiring more shares from the open market.
NTPC was the top gainer in the Sensex pack, jumping over 7 per cent, followed by Bharti Airtel, Titan, HCL Tech, SBI, PowerGrid, TCS and IndusInd Bank. NSE Nifty climbed 139.45 points to its new closing high of 17,519.45.
The opposition party vowed to hit the streets against the "Modi-made inflation" and run a people's movement over price rise.
IIP is expected to post a subdued volume growth in February 2017
India always faces a Hobson's choice as far as feeding coal-fired generators goes - even if the government is reluctant to admit it. The country cannot do without shipping in the world's most polluting fuel from overseas. And it will continue to do so unless it decides to reduce demand by forcing citizens, farmers and businesses to live without electricity for part of the day, or use diesel generators to fire facilities.
However, production of coal, crude oil and natural gas declined in April this year.
Reliance Industries, the Tata group, Bharti Airtel and Aditya Birla are among Indian conglomerates that have hedged their revenue and costs linked to the US dollar, giving them financial cover as the rupee fell past 80 against the greenback on Tuesday.
Iran has offered to help India meet its energy needs by relaunching rupee-rial trade for export of oil and gas, said Iranian ambassador to India Ali Chegeni. Chegeni said if both the countries resume rupee-rial trade, bilateral trade can touch $30 billion. Iran used to be India's second largest oil supplier but New Delhi had to halt imports after the former US president Donald Trump withdrew from the nuclear deal with Iran and re-imposed sanctions on its oil exports.
Hiring activity witnessed a 6 per cent year-on-year growth in March this year, supported by a rebound in economic activities and led by sectors such as banking and telecom, according to a report. However, there was a marginal dip of 2.4 per cent in hiring activity as compared to February, owing to the appraisal season, according to the Monster Employment Index (MEI). "Two years into the pandemic, it is heartening to see that the Indian economy has overcome setbacks and challenges with hiring momentum exceeding pre-COVID levels by 6 per cent this year compared to 2020," Monster.com, a Quess company, CEO Sekhar Garisa noted.
As many as six of eight core industries saw a contraction in output in October.
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