The recent surge in crude oil prices could shave off the gains made by India Inc in profit margins in the past few quarters. Worse, it comes at a time when consumer demand in the country is slipping and major global economies are witnessing a slowdown. A back-of-the-envelope calculation suggests that the margin expansion accounted for three-fourths of the rise in the listed firms' operating profit between the April-June quarter (Q1) of FY23 and Q1FY24, and only a quarter of profits gains came from revenue growth.
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Most of the companies are Chinese and surprisingly all are diversified banks.
Japanese ambassador to India said that private companies as well as the government plans to invest in infrastructure space.
Posting photos on Twitter, Piyush Goyal wrote, "Envisaging an enriched passenger experience with complete integration of different modes of transport, take a look at the future of New Delhi Railway Station."
The Narcotics Control Bureau (NCB) on Saturday said it has arrested Jaffer Sadiq, a Tamil Nadu-based alleged dealer of narcotics, in connection with an international drugs trafficking investigation case.
Financial services and consumer durable companies accounted for most of the selling by foreign portfolio investors (FPI) in the last fortnight of February. FPIs sold finance stocks worth Rs 2,263 crore and consumer durable stocks worth Rs 1,111 crore, according to data collated by Prime Infobase. Information technology (selling worth Rs 708 crore), metals and mining (Rs 694 crore), and power (Rs 497 crore) were the other sectors where overseas funds sold shares.
Reports suggest that Russia's biggest oil company, Ukraine's international airport as well as global shipping firm AP Moller-Maersk have been impacted by the attack.
Act says remuneration to directors and key managerial personnel should involve a balance between fixed and incentive pay.
An improvement in the wind speed November 21 onwards might bring air pollution levels down.
In a memorable year for the equity market, Dalal Street investors added a whopping Rs 81.90 lakh crore to their wealth in 2023 as a raft of positive factors powered a stellar rally in stocks. Experts said India's strong macroeconomic fundamentals, political stability owing to the BJP's success in recent elections in three significant states, optimistic corporate earnings outlook, signals from the US Federal Reserve about three prospective rate cuts next year and heavy retail investors participation played a major role in fuelling the stock market rally in 2023. In the year 2023, the 30-share BSE Sensex jumped 11,399.52 points or 18.73 per cent.
Computer storage chip maker Micron will set up a semiconductor assembly and test plant in Gujarat entailing a total investment of $2.75 billion (around Rs 22,540 crore), the company said on Thursday. Micron will invest up to $825 million in setting up the plant in two phases. Micron's plant has been approved under the government's "Modified Assembly, Testing, Marking and Packaging (ATMP) Scheme,".
Project Vivaan won big at the Solar Decathlon, placing second overall (and missing the first position by a whisker). Members of the award-winning Team Shunya tell Mrigank Warrier how they built a carbon-neutral, water-neutral, energy-positive home for a family of four.
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rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
In a breather to the troubled edtech company, the steering committee of lenders has agreed to amend a $1.2 billion term loan with Byju's by August 3, 2023, the lenders announced on Monday. Successful execution of the amendment would "immediately" solve the loan's acceleration and end all open litigation while avoiding further enforcement actions, they in a statement. An e-mail sent to Byju's did not elicit a response.
'We are cautious only on sub-sectors that have seen massive melt-up during the past six months.'
This includes distancing themselves from the new and emerging super-critical technology.
Bandhan Bank has declared disappointing results for the first quarter of the 2023-24 financial year (Q1FY24). While the market has been braced for known issues around microfinance exposures in West Bengal and Assam, there is higher stress in the portfolio. This means higher credit costs and poorer asset quality, leading to target downgrades by analysts.
Save the environment is the latest brand promotion mantra.
Employed with a private construction company, they were engaged in laying a railway track in Dhalai district.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
'The fact still remains that we will have to deliver, so the pressure is now on us to make sure we get our resources, our supplies lined up at acceptable costs.'
As under-construction properties turn riskier, due to slowing sales, a buyer needs to protect his interest in the property.
Byju Raveendran, CEO and founder of the eponymous edtech giant, has told shareholders that the company will set up a board advisory committee (BAC). This was part of a discussion on July 4 with shareholders at an emergency general meeting (EGM). Raveendran also said that in the next EGM in three weeks will give details about BAC's members and composition.
Squandering the relief due to rain, Delhi recorded a jump in pollution levels and a smoky haze returned on Monday morning after residents flouted the ban on firecrackers on Diwali night.
Could the MPCE survey results be used as a basis of reconstructing the Consumer Price Index with new weights, asks Madan Sabnavis.
10 non-bank and non-finance stocks from the BSE500 Index universe that offer an optimal blend of low valuation, reasonably robust revenue and earnings growth in recent quarters, a strong balance sheet, and most importantly, positive cash flow from their operations.
Once a quality stock has been bought, the next challenge is to hold on to it -- no mean feat in this age of information overload and incessant noise.
As its backyard remains embroiled in tension, Gurugram is exercising caution.
Though it still has only a single-digit share in total electricity production, India has been looking to tap nuclear power faster.
Acceleration in demand, together with marginal price hikes of about 2-3 per cent by cement companies in the October-December quarter (third quarter, or Q3) of 2022-23, may not be enough to cushion the impact of high input costs on the bottom line, reveal Bloomberg consensus estimates for the quarter. Year-on-year (YoY) net sales growth in Q3 will come in at nearly 7 per cent, shows Bloomberg data, while bottom-line growth will show a sharp decline of 25 per cent from a year ago. The earnings before interest, tax, depreciation, and amortisation (Ebitda) will likely decline by nearly 5 per cent versus a year ago, shows data.
'Similar to the case of the digital payment system where the government created a public platform and others joined in, we are exploring a similar structure to create a PPP platform where the compute required for AI could be accessed by the small player.'
At least 31 people were crushed to death when an under-construction chimney at a new power plant being constructed at Bharat Aluminium Company (Balco) in Korba, 230 km from Raipur, collapsed on Wednesday afternoon. Another 40 people are feared trapped in the debris.
While one can file an updated return, there are certain caveats, warns rediffGURU Mihir Tanna.
'The rising cost of construction, the cost of doing business, high compliance, and inflation/interest rates going up have already reduced returns to single digits.'
The global credit crisis has slowed order growth of Indian construction and engineering companies, indicating that several big projects, planned earlier, are being pushed back either for lack of capital, or because they have become unviable now.
Squandering the relief due to rain, Delhi recorded a jump in pollution levels and a smoky haze returned on Monday after people flouted the ban on firecrackers on Diwali night.
The strong response for the IPOs, however, has shifted liquidity away from the secondary markets, with the benchmark Sensex falling 1.3 per cent in the previous two trading sessions.
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