While Infosys has increased the margin guidance for FY21 by 100 bps to 24-24.5 per cent, analysts believe there will pressure on near-term margins as discretionary cuts - promotions and travel, headcount addition, record utilisation, and wage hikes start to reflect on costs.
Remittances growth is muted due to "structural" reasons which will hamper consumption demand locally, a report said on Thursday. "...the muted external remittances growth is more of a structural issue than transitory," India Ratings and Research said in its note. India has been the largest recipient of remittances from its diaspora spread all across the world and received over $70 billion inflows last year. The agency argued that flows had started to moderate even before the COVID-19 pandemic outbreak, pointing out that as a percentage of gross disposable income, the share of remittances fell to 2.5 per cent in FY19 as against 3.5 per cent in FY10.
If net forex outflows turn out to be relatively high in the next few years, the rupee could depreciate beyond Rs 80 to a dollar by 2022. The causal reasons could, for example, include unmet expectations of FPI and FDI investors about the performance of the Indian economy, sharp rise in prices of imported oil and decrease in FX remittances. The RBI has to ask itself whether guaranteeing future rupee-dollar exchange rates on FX forward contracts is a reasonable way to use its risk-bearing capacity, says Jaimini Bhagwati.
'His (Das) approach to work seems that of working as a team with ease in communication.'
While Wipro leads the pack on absolute numbers, analysts for Infosys for reporting consistent growth, revising FY22 guidance and beating TCS on revenue growth.
We have our own problems for sure and they are not trivial, but for now, our economy is in not too bad a shape, our politics is as personality-driven and authoritarian as that of most countries in the world. We must make the best of what we have and not be excessively unhappy looking at the grass on the other side of the septic tank which may not be greener after all!, observes Shreekant Sambrani.
The Indian financial system's asset quality improved despite the pandemic, but it could be due to special dispensations by the regulator, and banks would likely see increased stress on their books once the schemes expire. According to the annual trend and progress report of the Reserve Bank of India (RBI) released on Tuesday, the data available for this financial year so far indicate that banks' bad debts have moderated while provision coverage ratios (PCRs), capital buffers as well as profitability indicators have improved relative to pre-pandemic levels.
Experts tell Tinesh Bhasin how to pick one to save money as well as some troubles later
'The fiscal pressure will be there, but the intent of the government behind this move is to spur demand and growth.'
A large part of the work that CEO Sumit Gupta does is focused on educating users and the larger community about investing in cryptocurrencies, reports Neha Alawadhi.
Not at the moment, says FM; almost never, says his advisor.
Gold demand appears to be positive in India as the consumer sentiment is likely to recover in 2021, from its dismal performance due to the coronavirus pandemic-related disruptions and volatile price movement, according to a report by the World Gold Council (WGC). Initial data about the Dhanteras festival in November suggest that while jewellery demand was still below average, it had substantially recovered from the lows seen in the second quarter (April-June 2020) of last year, according to the report.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
Zomato's initial public offer (IPO) is scheduled to open for subscription on July 14 and is priced between Rs 72 - 74 per share. At the upper end of the price band of the offering, the company aims to raise Rs 9,350 crore. Most analysts have given a 'subscribe' rating to the issue for listing gains.
'Stick to the known quality names, avoid short term thinking and don't be in a hurry to book profits on your winners.'
The idea is to keep the RBI's information technology (IT) infrastructure in top shape to run the payments and settlement system uninterrupted 24x7, and run the full gamut of RBI functions from the secured data centres, as nearly 14,000 RBI staffers, except the senior-most management, work from home.
Foreign portfolio investors (FPI) have pumped in a net sum of Rs 49,553 crore in Indian markets this month so far on back of high liquidity coupled with improving global indicators and clarity after the US presidential elections. FPIs invested Rs 44,378 crore in equities and Rs 5,175 crore in the debt segment, taking the total net investment to Rs 49,553 crore between November 3-20. In October, FPIs invested a net sum of Rs 22,033 crore.
Political compulsions have led to a change of narrative. But, in the ministry of finance, senior management ought to be looking at more serious issues than 'digitally cashless' India, says Rahul Khullar.
Exchanges believe its legal status may now change, with the government pushing for digitised transactions.
'The concern that the bad bank may create a moral hazard for the system is extremely valid.'
Annoyed people in queues in front of ATMs and banks said chasing their own money has now become a new way of life
The Chinese currency too is expected to continue its fall.
Investors in international funds should have a horizon of more than five years. Not only will this help them overcome equity and currency volatility, it will also help them enjoy better tax treatment, says Sanjay Kumar Singh.
RBI Governor Shaktikanta Das has assured Finance Minister Nirmala Sitharaman that the Rs 12.05-trillion gross borrowing programme for FY22 will go through smoothly.
What was recovered from Bhajiawala family: Rs 1.45 crore cash, of which about Rs 1.05 crore was in new currency notes, bullion worth Rs 1.49 crore, gold jewellery valued at Rs 4.92 crore, other ornaments worth Rs 1.39 crore and silver ingots priced at Rs 1.28 crore.
Currency volatility to have negative impact of 275 bps
Every crisis throws up opportunities, and one should be resilient enough to focus on the opportunities rather than let the crisis overpower you, says Aditya Mohan Jadhav.
Almost 40 per cent of a durable company's sales are achieved during the festival season
If there were an Olympics for bank frauds in India, Rishi Agarwal, founder and former chairman of ABG Shipyard Ltd, a nephew of the Ruia brothers of the Essar group, would bag the gold, pushing Nirav Modi to his right, says Tamal Bandyopadhyay.
Chirag, like many other leaders who have lost control of their parties, underestimated the adversary.
Multi-currency pre-paid cards are a good option while travelling abroad.
A weak rupee, though seemingly good for exporters, would push up input cost further for Indian companies.
The US dollar index was up by 0.16 per cent at 96.53.
The month-long winter session of Parliament, which begins on Wednesday, is expected to be a stormy one with opposition parties determined to corner the government on several issues, including the issue of demonetising Rs 500 and Rs 1,000 currency notes, which has caused massive outrage across the nation.
Polling in Vellore was scheduled on April 18.
While RBI may cut rates by 25 basis points in the February policy review, global monetary policies hold the key to much of the financial assets flow in 2017
The box of hand grenades had been attached with a wooden frame and was lowered from the drone to the ground with a nylon rope, said police, adding that they recovered it on Sunday evening.
Cameron Green suffered a mild concussion after being hit on the head by a shot from Jasprit Bumrah
The rupee bounced back by four paise to close at 65.27 per dollar on fresh selling of the American currency by banks.
Exposure to debt funds and gold is essential even if current returns from these asset classes are low, suggests Sanjay Kumar Singh.
