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.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
After getting rapped for accepting Vedanta group's bid that would give just 5 per cent of their outstanding loans, lenders to Videocon Industries on Monday approached the insolvency appellate tribunal NCLAT seeking fresh bids for the debt-laden consumer durable firm. Billionaire Anil Agarwal's Twin-Star Technologies had offered Rs 2,962 crore to takeover Videocon Industries, which was 4.15 per cent of the admitted claims of Rs 64,838.63 crore of lenders. SBI, the leading lender of Videocon Industries, has approached the National Company Law Appellate Tribunal (NCLAT) requesting for a rebidding of the 13 companies of the debt-ridden group, on account of strong observations against Rs 2,962 crore takeover bid by Anil Agarwal's Twin Star Technologies.
Shekhar Bajaj, chairman and managing director of the firm, explains to Viveat Susan Pinto on what led to this sales jump, besides throwing light on the benefits accruing to the sector on account of the GST rate cuts in appliances.
TVs, air conditioners, washing machines, inverters, refrigerators, electric fans and cooking appliances may become cheaper
SBI was the top gainer in the Sensex pack, jumping around 3 per cent, followed by Kotak Bank, Axis Bank, Bajaj Auto, Tech Mahindra, UltraTech Cement and PowerGrid. NSE Nifty rose 36.40 points to 15,337.85.
Economic performance is affected if large numbers of people are out of work, or at such low levels of income as to force under-consumption, observes T N Ninan.
The decision to increase the quantum of capital infusion was taken at a meeting between Finance Minister P Chidambaram, RBI Governor Raghuram Rajan and Economic Affairs Secretary Arvind Mayaram in New Delhi.
Amid the ongoing festival season in the country, the hiring of gig workers has zoomed across sectors as the businesses have begun opening up leading to an uptick in consumer sentiments and rising pent-up demand, according to experts. "In the third quarter, with the onset of festive season, we are witnessing a 400 per cent spike in the hiring for gig workers. Earlier, in the first quarter of this year, as many businesses and companies were not operating at full strength, growth was muted. "However, things began picking up and became more promising from the second quarter, as the demand for gig workers across sectors grew," Taskmo, a subsidiary of Quess Corp, co-founder Prashant Janadri told PTI.
Growth of capital goods at 9.6 per cent is inspiring as the investment cycle is expected to rebound in the coming months.
The NSE Nifty went past the 8,600-mark for the first time since November 1.
Outbound shipments of engineering products in June to these nations doubled to $1.32 billion in June 2020, from $653.52 million in June 2019.
Banking services, insurance premium and investment management are likely to cost more.
The 50-share NSE Nifty ended flat, up 5.80 points, or 0.06 per cent, at 10,308.95.
Reliance Industries was the top gainer in the Sensex pack, surging over 3 per cent, followed by Bajaj Finserv, IndusInd Bank, HDFC twins and Kotak Bank. NSE Nifty surged 143.25 points or 1.18 per cent to 12,263.55.
The ministry of statistics and programme implementation on Friday released quick estimates of the Index of Industrial Production (IIP) which showed the index value at 88.4 in May against 53.6 in April, indicating a graded pickup in industrial activity. The index stood at 135.4 in May 2019.
IIP down due to poor show by manufacturing, mining and power sectors
Dr Reddy's was the top gainer in the Sensex pack, rising over 3 per cent, followed by PowerGrid, TCS, HCL Tech, Infosys and Reliance Industries. On the other hand, L&T, IndusInd Bank, Bajaj Finserv and Bharti Airtel were among the laggards.
The broader Nifty gained 74.45 points, or 0.72 per cent, to end at a fresh peak of 10,463.20, breaking its previous record of 10,452.50 hit on November 3.
Though Maharashtra has 30 per cent more real income per person, Punjab has more widespread ownership of consumer durables, resulting in more prosperity, says the Crisil study.
Loans, cash credits, and overdrafts at the end of December 22, 2017, stood at Rs 81,287.32 billion, against Rs 73,340 billion in the year-ago period.
Bajaj Finance was the top gainer in the Sensex pack, soaring over 8 per cent, followed by Kotak Bank, IndusInd Bank, HDFC, PowerGrid, Axis Bank, ICICI Bank and L&T. On the other hand, Maruti, ITC, NTPC and Nestle India were among the laggards.
'No one seems to have looked at the extent of money that is being borrowed by individuals, and the rising levels of household debt.' 'At their present rates of growth, personal loans in India could well become the largest category of bank credit in just two or three years,' cautions T N Ninan.
Harshala Chandorkar of CIBIL offers tips on how to keep your finances intact and shop smart this festive season.
NuPower will return loan with interest to consumer durables major by 2021
Unlike the first two stimulus packages, this time the focus would be on boosting demand.
'Last Saturday, the largest number of people travelled by air on a single day!' 'There is a kind of hunger among consumers to spend as they have been confined to their homes and not spending for almost 2 years.'
Leaving direct taxes untouched, Finance Minister P Chidambaram today slashed excise duty on cars, SUVs and two-wheelers, and capital goods and consumer durables to boost manufacturing and growth.
Industrial production re-entered the negative territory by contracting 1.6 per cent in January, mainly on account of the decline in output of capital goods, manufacturing and mining sectors. The output of the manufacturing sector -- which constitutes 77.6 per cent of the Index of Industrial Production (IIP) -- shrank by 2 per cent in January, as against a growth of 1.8 per cent during the same month last fiscal, as per data released by the government on Friday. The worst performance was witnessed by the capital goods sector, which recorded a contraction of 9.6 per cent during the month under review, compared to a 4.4 per cent decline a year ago.
Industry body to write to commerce ministry, seek regulation for e-tailers.
According to the job portal TimesJobs.com's job index Recruittex, the top hiring industries are healthcare, petrochemicals/oil and gas, consumer durables/FMCG and automobiles/auto ancillaries.
CRISIL predicts no more than 6.5 per cent yearly from now till FY19, and only with a stable and decisive government; predicts problems in job generation, poverty and demand.
Within IIP, the capital goods sub-index has contracted for seven continuous months, suggesting investment demand continues to be weak.
For the week, the Sensex recorded a fall of 371 points, or 1.10 per cent, and the NSE Nifty 130.75 points, or 1.25 per cent.
Most of the economic activity in the country had come to a standstill after the government imposed a 21-day nationwide lockdown beginning March 25 to check the spread of coronavirus.
Rating agency Crisil said corporates, especially those in the auto, aviation, consumer durables and oil sectors, will be "severely impacted" by rupee depreciation due to large overseas debt and limited hedging.
'As valuations of large-caps appeared to be out of whack, investors started lapping up quality mid-caps and small-caps, which were available at relatively comfortable valuations.'
The Sensex rally was driven by Tata Motors, Vedanta, Bharti Airtel, Maruti, Reliance Industries, Tata Steel, Larsen and Toubro and HCL Tech.
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