The earnings are, however, expected to be down around 2 per cent on a sequential basis due to pent-up demand getting exhausted and the adverse impact of rising metals and energy prices on consumer goods and manufacturing companies.
According to the official industrial data, industry grew 2.7 per cent in May, more than double the 1.2 per cent in the previous month. During the month, manufacturing sector output rose by 2.5 per cent, while mining and power generation grew 3.7 per cent and 3.3 per cent, respectively.
Nifty ended flat at 5041. Realty and energy stocks were in the doldrums, while consumer durables and pharma stocks looked up.
The previous low at 1.8 per cent was recorded in October 2017.
Excise duty cut of Rs 6,000 on big cars to be passed to customers; LCDs cheaper by Rs 3,500.
The market has remained in a mixed state of mind, has come off its intra-day high and has finally ended the day in negative territory.
The Sensex ended at 17,098, lower by 21 points and the Nifty closed at 5,106, down 12 points.
Aims to save time in entering infotech retail The MobileStore, the Esaar group's mobile phone retail chain, has announced the acquisition of the operations of Impact Retail Pvt Ltd for an undisclosed amount.
The word 'zero' is the bait used to lure gullible buyers. In reality, the customer ends up paying an interest rate comparable to that on a consumer durable loan; in some cases, even higher.
According to industry experts, companies in sectors such as consumer durables (fans, air-conditioners), power cables and the electrical industry will be hit, given that they are big users of copper.
With economic activities gathering pace post easing of lockdowns across the country, hiring activities in most sectors have shown significant recovery in October over the previous month, says a report. On yearly basis, however, the overall hiring was down by 17 per cent in October, according to the Naukri JobSpeak Index for October' 2020.
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