'Businessmen like Rajiv render public service when they speak truth to power,' observes Virendra Kapoor.
Another year of strong performance by these export-oriented sectors likely as US economy revives and rupee is expected to be under pressure.
Strong festive demand in October helped carmakers register a seven-per cent volume growth in the domestic market, even as the largest player, Maruti Suzuki, reported low single-digit growth.
Most companies were working on Rs 65-66 to a dollar.
Consumer anxiety is at the highest levels since the outbreak of coronavirus pandemic in India with the less affluent most skeptical about economic outlook while a majority of consumers think their income in the next six months will be lower than the pre-COVID levels, says a latest study. As per the COVID-19 consumer sentiment research by global management consulting firm Boston Consulting group (BCG) conducted between May 23 and May 28, 2021, covering around 4,000 respondents across metros, tier I, II, III, IV and rural India, 51 per cent of consumers expected their spends over the next six months to be lower. In the last round of survey conducted from July 20 to August 2, 2020, the figure stood at 40 per cent.
After the RBI surprised the Centre with a record Rs 99,122 crore in surplus transfer for FY21, analysts said this will help the government tide over the revenue losses from lockdowns and extend more support to the pandemic hit industries and to the poor people. In fiscal 2020, the RBI had paid only Rs 57,128 crore in dividend to the government and the finance minister had budgeted only Rs 45,000 crore from the central bank. The higher payout followed the Bimal Jalan panel report that had set a new economic framework capital buffer for the central bank along with the contingency risk buffer at 5.5 per cent.
Low growth visibility and trouble with regulators have resulted in lack of interest from investors
'This government has always been fiscally conservative. It never resorted to fiscal profligacy.'
Something seems to be working for Indian consumers. Yet, the Indian consumer expresses some caution this festive season, reveals Mahesh Vyas.
Take a moment to consider ways to improve your finances.
'Once the lockdown is lifted, we will need the mother of all fiscal and monetary policy support to sustain the economy,' advises Akash Prakash.
'We would advise investors to invest in a disciplined way in equities for the long term.'
In October, the general index had declined by 4.2 per cent, while its manufacturing component went down by an even more alarming 7.6 per cent.
Rajeev Mehta, chief executive officer for IT services, explains to Business Standard that the company was faced with some client-specific issues, which led to this.
'Over the next two quarters, markets will be guided by observing the earnings resilience of corporates during the second lockdown, progress of the monsoon and the damage, if any, to rural spending power due to the second wave.'
'They can shift to dynamic asset allocation funds to automatically rebalance their equity exposure.'
The Reserve Bank of India (RBI) announced new rules for credit cards, applicable from July 1. "These directions cover the general and conduct regulations relating to credit, debit and co-branded cards which shall be read along with prudential, payment and technology & cyber security related directions applicable to credit, debit and co-branded cards, as issued by the Reserve Bank," the circular by RBI said. Business Standard culled out key rules from the list, and asked financial experts for advice on them, along with the thumb rules one needs to follow while using credit cards.
Armed with necessary macro and micro growth drivers, India is on its way to becoming the fastest growing major economy in the world, a finance ministry report said. Rapid vaccination and teeming festivities will push India's ongoing recovery resulting in narrowing of demand-supply mismatches and greater employment opportunities, as per the monthly Economic Review prepared by the ministry.
A few analysts were surprised by the revenue growth of 3.8 per cent; many had expected revenue growth to be 2.5-2.7 per cent.
The government's second round of stimulus will spur consumer spending in the near term but support to economic growth will be minimal, Moody's Investors Service said.
'We believe there will be a full shutdown for four weeks and a partial shutdown for eight weeks.' 'Hence, economic activity is unlikely to normalise before the end of May.'
'We expect realisation will be flattish for the rest of the fiscal (year).'
Despite headwinds, it remains "structurally bullish" on India and expects the Sensex to scale up to the 70,000-mark by December 2022; 80,000 level in a bull-case scenario and hover around the 50,000-mark as a bear-case, the brokerage house said in a report.
'The stimulus message was tagged on to what was meant to be an exhortation to self-reliance, glossing over the near impossibility of merging the immediate requirement of relief for a huge population and a questionable strategy for the future trajectory of a large economy aspiring to superstardom,' points out Shreekant Sambrani.
TCS MD talks about demand environment, margin outlook and the growing number of its employee base.
There was no sale of premium sedan Kizashi during the month.
While the framework of service delivery and client-focused approach remains unchanged, Nilekani's suggestions, of taking start-ups with newer technologies to clients, are being implemented.
'One cannot take it that the economy has recovered, and the GST payment has increased because of that, or that production is back to January 2020 level.'
The tea industry, hit by rising costs, falling prices and political unrest in the North Bengal plantations, is especially vulnerable to the COVID-19 lockdown.
'The spurt in demand for Ayurvedic products has exhausted our production capacity.'
This Children's Day, groom your child to be financially responsible, says Arun Thukral, MD & CEO, Axis Securities.
The facility, which will manufacture nicotine and nicotine salts, will conform to stringent US and EU pharmacopoeia standards that define purity levels at 99.2 per cent for nicotine meant for pharmaceutical products. ITC will leverage the institutional capabilities of its century-old leaf tobacco business for this. ITC's cigarettes business saw disruptions across the value chain with the onset of the Covid-19 pandemic. The company mentioned in its annual report that with easing of restrictions and improvement in mobility from September 2020 onwards, the business recovered progressively over the remainder of the year to reach nearly pre-Covid levels towards the close of the year.
PSU divestment, LIC IPO, fiscal deficit: Budget 2021 marks a clear change in the Modi government's stance from fiscal conservatism to growth orientation.
This deferred or reduced spending is now extending across most major consumption sectors such as discretionary food and groceries, clothing and home textiles, consumer durables and home appliances, jewellery, furniture and furnishings, leisure travel, and entertainment. Oddly, the response of many manufacturers, marketers and retailers has been counter-intuitive.
With real estate -- NRIs's favourite investment vehicle in the past -- unlikely to do well in the near future, there is a strong case for NRIs to shift to equity and debt mutual funds, says Prateek Mehta.
'We are training people to learn AI, machine learning, robotics; it is just new programmes that teach them new things and the raw material, the people, are eager to learn.'
Investors will look at how TCS has performed when it announces the quarter's results on October 13, and the forecast from Infosys on October 14
Vinita Bali to lead global ops, new business growth; COO Berry to head India operations.
Wipro Ltd, India's third-biggest software services exporter, posted about an 8 per cent rise in quarterly profit as clients in North America and Europe spent more on technology.
Traders have all but given up attempting to predict where the new-year rout will end
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