An overwhelming majority of Indians (84 per cent) feel it is safe to return to their workplaces, according to a Deloitte survey that suggests consumers in India are showing a positive spending intent and brighter outlook towards the future. The latest monthly analysis (wave 220) of Deloitte's Global State of the Consumer Tracker, signals a cautious consumption revival in the country, aided by the decreasing number of Covid-19 cases and an improved vaccination drive. The Global State of the Consumer Tracker is an online survey based on responses from 1,000 people each in 18 countries including India.
The resurgence of COVID-19 has dented but not debilitated economic activities in the first half of Q1 of the current fiscal even though caseload of infections is much higher than before, according to an RBI article. The ferocity of the second COVID-19 wave has overwhelmed India and the world, the article said, adding that war efforts have been mounted to stop the surge in its tracks. "The impact of the second wave on the real economy seems to be limited so far in comparison with the first wave. Evidently, the localised nature of lockdowns, better adaptation of people to work from home protocols, online delivery models, e-commerce and digital payments are at work," the article on the state of economy authored by RBI Deputy Governor M D Patra and other officials said.
India, along with Southeast Asian countries such as Indonesia, is expected to sustain growth in the medium-term in Asia region, replacing China as the key growth driver, Morgan Stanley and Nomura said in two separate reports released on Monday. While Morgan Stanley projected a 6.2 per cent gross domestic product (GDP) growth forecast for India in FY24, Nomura estimated the Indian economy to grow at 5.9 per cent in 2023. "Even with a slowing China, we expect GDP growth in Asia to sustainably outperform other emerging markets and the US. India and Southeast Asia are set to be the fastest-growing economies this decade.
According to research firm IDC, a slowdown in smartphone shipments began showing up as early as late February, though companies insist that the March quarter was fine, albeit on a low base.
With 19 per cent market share, Samsung rules supreme in India.
The agency welcomed the Rs 1.70-lakh crore package announced by Finance Minister Nirmala Sitharaman earlier in the day but said more measures like loan forbearances for small businesses and households are necessary.
Leading software outsourcing firm Cognizant Technology on Tuesday reported a 15.4 per cent rise in net profit at $319.6 million in the quarter to September driven by a strong ramp up in demand for outsourcing services, up from $276.9 million a year ago.
The FMCG sector is generally considered to be a safe haven during difficult times as people never stop buying soap and toothpaste. However, weak rural and semi-urban demand has been a factor since the lockdowns of 2020-21 while rising inflation has also impacted margins. While the FMCG majors have survived on the basis of price hikes and good management practices, they have seen growth slowdowns and experienced margins being squeezed as raw materials and transport costs rose. The FMCG sector witnessed positive volume growth in the fourth quarter of the 2022-23 financial year (Q4FY23) after five consecutive quarters of decline, and the rebound in demand was led by urban markets.
Wipro's revenue from the information technology services business for the quarter ended September was in line with its estimate, though it lagged some of its larger Indian peers in a few operating parameters. Chief executive T K Kurien tells Bibhu Ranjan Mishra he expects a few issues involving a couple of large clients to be resolved in a quarter, before all the company's engines start firing.
However, the cumulative gains of these six companies at Rs 35,716.85 crore was less than the total loss seen by the four firms - TCS, ITC, HDFC and CIL
The combined profit before tax of 748 companies, which have declared their results for Q1FY21, is down 46 per cent YoY. Their net sales went down by a quarter as the Covid-19 lockdown led to a sharp fall in economic activity.
The company's revenue rose 16 per cent at Rs 17,535 crore.
The good folks at Visa have just released their most recent Visa Asia Pacific Affluent Study. And this is what we have learnt from it about affluent Indians.
These sectors are seeing a marked slowdown, as consumers are postponing purchase decisions amid uncertainty and severe cash crunch, report Ram Prasad Sahu, Sheetal Agarwal & Ujjval Jauhari from Mumbai.
TCS has done better than Infosys in sequential and yearly revenue growth so far this financial year.
Use credit cards with discretion and try to generate a net monthly surplus to avoid falling into a debt trap
'The idea of subversive activities is so vague that it could include making fun of the government, being critical of the government.'
Which sectors will bounce back fast? Which will lag? Has the consumer changed forever? Here are some answers.
IT major TCS said 2014-15 will be better than the ongoing fiscal on account of uptick in client spending in the US and Europe and growth in demand for technologies like cloud, mobility and Big Data.
The Bengaluru-based company had registered a net profit (after minority interest) of Rs 5,197 crore a year ago, a regulatory filing said. Infosys' revenue grew 22.9 per cent to Rs 31,867 crore in the quarter ended December 2021 from Rs 25,927 crore in the year-ago period, it added.
Top carmakers, including Maruti Suzuki India, Hyundai and Honda, are expecting a spike in their sales following the implementation of 7th Pay Commission recommendations.
Good performances by most information technology (IT) companies in the September quarter and improved forecasts notwithstanding, with the exception of Infosys, stocks of IT biggies such as TCS, Wipro and HCL Technologies have fallen three to nine per cent since Infosys announced its earnings on October 11.
The analyst community tracking the Indian IT services industry took special note of Accenture's first quarter (Q1) performance, which showcased the rapid growth of its consulting business that outperformed its outsourcing business. Bookings indicate that the trend will continue. Consulting bookings increased 41.6 per cent year-on-year (yoy) to $9.4 billion, higher than the 17.6 per cent growth in outsourcing to $7.4 billion. The management commentary was also more bullish on the consulting business.
While TCS, Infosys and Cognizant have hinted at a weak quarter, analysts say the slowdown is cyclical and growth will return after the US elections
'The biggest risk to the Indian markets from a 12-18-month view is that the current government does not get re-elected, or loses in a way that is not represented at all in the next central government.'
'The current crisis is one of incomes, driven by poor job growth, agrarian distress and poor investment sentiment,' notes Harsh Pati Singhania, director, JK Organisation.
To snatch a state government out of Congress hands is therefore a high-stakes game with national political implications, for it denies the party the essential fuel to run effective election campaigns, notes T N Ninan.
TCS is confident of bringing in industry-leading numbers, despite soft third quarter results
Economists caution that the underlying cause could be an alarming drop in demand -- something that's not good for economic growth.
Food in India has fled the confines of the kitchen and become a national adventure... Food shows, now even on news channels, have transformed restaurateurs from humble khansamas to courted celebrities.
In the future, publishers will need to think of digital immersive marketing just like marketing a movie or show on Netflix is an immersive experience.
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High retail inflation is exerting pressure on households to cut expenses wherever possible.
For now, Bounce, Shuttl, Fab Hotels, Instamojo, Zomato, Curefit, and HealthifyMe, among others, are going for salary deductions. Most of the consumer internet start-ups, besides those who are in the grocery delivery, education tech, and video conferencing business, would ultimately lay-off people and cut back salaries.
As Nasdaq-listed company indicates poor spending in financial services space, Indian firms feel jittery
Is the latest mobile or car or a house the goal? If so, the savings and investments should be aimed at catering to it. The amount needed has to be worked out, and money needs to be saved, accordingly, suggests Sarbajeet K Sen.
A fleet of cutting-edge premium handsets have been lined up by OnePlus, Google, Huawei and Nokia.
Even as raw material prices start cooling off from their peaks, fast-moving consumer goods (FMCG) companies' margins are expected to remain under pressure at least in the next quarter. This is because commodity prices continue to remain high year-on-year (YoY). Consumer companies will also continue to increase rates as they have been taking price hikes in a staggered manner. They have not yet passed the entire price increase of raw materials to consumers.
Economic growth depends a lot on what FM announces in the upcoming Union Budget.
'Recent underperformance notwithstanding, equities should constitute a major part of investors' financial portfolio.'
US-based IT services major Cognizant on Wednesday reported a 16.3 per cent rise in net profit at $324.3 million for the fourth quarter ended December 31, helped by broad-based growth across industries and geographies.
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