Equity investors have become poorer by more than Rs 18.74 lakh crore as the market continued to remain bearish for the fifth session on the trot on Thursday. The 30-share BSE Sensex tumbled 1,158.08 points or 2.14 per cent to end below the 53,000-level at 52,930.31 points on Thursday. Markets have been falling for five straight sessions and the BSE benchmark has tumbled 2,771.92 points or 4.97 per cent during this period.
In the confrontation in Doklam, where Indian and Chinese soldiers were lined up eyeball-to-eyeball, senior Indian commanders recount they could sense the uncertainty in the Chinese. While Indian soldiers had to be restrained from pushing the Chinese troops back, our chief interpreter heard the Chinese officers threatening to open fire on PLA soldiers who wavered or withdrew, reveals Ajai Shukla.
The court said it is the responsibility of Parliament to show its collective will to restrain criminals from entering politics or legislature to save democracy and the country governed on democratic principles and the rule of law.
The Indian authorities have to reconfirm that Prabhakaran is dead. It may require seeking assistance from Interpol and also involve the re-opening of the Rajiv Gandhi assassination case, and more so, the investigations, formally or otherwise, asserts N Sathiya Moorthy.
The market capitalisation of Reliance Industries plummeted by Rs 43,491.37 crore to reach Rs 17,26,714.05 crore.
Indian corporates' business confidence has seen a sharp erosion in June on account of deterioration in the macro-economic situation during the last six months, an industry chamber survey said on Thursday.
The Tamil Nadu government on Sunday said it was mandatory for people coming from Kerala, to the state to carry a negative RT-PCR test report or vaccination certificate of two COVID doses from August 5, in the wake of a spike in infections in the neighbouring state.
Companies are not able to pass on the pressure from rising input costs to buyers, and this is likely to result in a compression in corporate profit margins for the March quarter, a report said on Monday. Operating profit margins for companies are set to fall by as much as 3 percentage points compared to the year-ago period, and up to 0.60 per cent as compared to the preceding December quarter, the research wing of rating agency Crisil said in a report. The report comes ahead of the earnings season when major companies start reporting their profits.
Equity investors became poorer by over Rs 9.75 lakh crore in two days of heavy decline in the equity market, with the Sensex plunging 1,457 points on Monday. The 30-share BSE benchmark tanked 1,456.74 points or 2.68 per cent to settle at 52,846.70 on Monday. It had ended 1,016.84 points or 1.84 per cent lower at 54,303.44 on Friday.
The government on Wednesday scrapped a week-old tax on the export of petrol and cut windfall taxes on overseas shipment of diesel and ATF as well as the one imposed on domestically produced crude oil after global oil prices fell. While the Rs 6 a litre export duty on petrol was scrapped, the tax on the export of diesel and jet fuel (ATF) was cut by Rs 2 per litre each to Rs 11 and Rs 4 respectively, government notifications showed. The tax on domestically produced crude was also cut to Rs 17,000 per tonne from Rs 23,250, a move that will benefit producers like ONGC and Vedanta Ltd.
Investors' wealth has eroded by over Rs 680,441 crore in three days of market fall amid weak global trends and muted domestic sentiments. Extending its losses for the third straight day, BSE benchmark Sensex on Thursday finished below the 60,000-level, weighed by hectic selling in IT, energy and finance stocks amid a sell-off in European equities. The index has lost 1,844.29 points in three sessions.
With economic activity still to reach pre-pandemic levels, the RBI may slow down the pace of rate hikes until next year to quell soaring inflation while supporting growth, the Asian Development Bank (ADB) says in its latest report. The Manila-based multilateral funding agency has raised the inflation forecast for the current fiscal year ending in March 2023 to 6.7 per cent from its earlier projection of 5.8 per cent. For the next fiscal year too, the forecast has been revised upwards to 5.8 per cent from 5 per cent earlier.
There seems to be a desire for opacity when it comes to confronting China, points out Aakar Patel.
Ajit Balakrishnan offers lessons from another tech revolution not so long ago.
A quick look at the Q1FY23 performance of top-tier IT services players shows that they are still far away from getting a grip on managing attrition. Talent retention has eroded not only their margins but also any gains they may have made from rupee depreciation. Despite robust growth numbers and strong deal pipelines, margins for all the players -- TCS, Infosys, HCL Technologies and Wipro -- have continued to shrink at a pace that has had the street surprised.
The drying up of funds for a number of start-ups is affecting the firms' unicorn status across the globe. The past six months have seen the valuations of 147 unicorns drop, of which 71 were from the US and 29 from China, according to the latest Hurun Global Unicorn Index 2022. Eighty-one unicorns from across the globe saw their valuations drop below $1 billion-the threshold for a start-up to be labelled unicorn-from last year.
His position in India's 100 richest list by is 11 places down to 84th.
"Consumers can strategise on the non-core consumption basket front by downtrading, that is, purchasing non-premium versions of products that effectively deliver the same utility," says Ritika Mankar, economist, Ambit Capital.
It is a trend that economists and researchers say might continue. The data shows the share of this age group in the net EPF accounts created - a proxy for net new formal jobs created - fell from 37.9 per cent in 2018-19 to 24.1 per cent in 2021-22.
Institutional shareholders of Reliance Industries Limited (RIL) are expecting big-ticket announcements from the company, including timeline for listing of its telecom and retail subsidiaries. They expect this to unlock value in the company, which has seen a sharp fall in market valuation on Friday. This is due to windfall tax imposed by the Centre on refiners and oil producers.
Equity market capitalisation dropped to a seven-month low in February, with the top 10 companies losing a whopping Rs 3,33,307.62 crore in market valuation last week. The total equity market capitalisation (m-cap) in February 2022 stood at Rs 2,49,97,053.39 crore. The previous low was in July 2021, when the m-cap of BSE-listed companies was at Rs 2,35,49,748.9 crore. In January, the m-cap stood at Rs 2,64,41,207.18 crore.
Although the pact would focus mainly on the Pacific and the South China Sea region, any action designed to deter China with or without New Delhi's active participation is a welcome move, notes Commodore Venugopal Menon (retd).
Investor wealth worth over Rs 13.44 lakh crore was wiped off on Thursday as the domestic equity markets tumbled along with global risk assets, after Russia launched military operations against Ukraine. Amid intensifying rout in the global financial markets, the 30-share BSE Sensex plummeted 2,702.15 points or 4.72 per cent to end at 54,529.91. The carnage on Dalal Street eroded investor wealth worth Rs 13,44,488.54 crore, taking the total market capitalisation (m-cap) to Rs 2,42,24,179.79 crore on the BSE.
The Left Front on Thursday said the Supreme Court's quashing of the appointment of P J Thomas as Central Vigilance Commissioner was 'another serious blow' to the UPA government which is facing major corruption cases. "I think what the court said today only vindicates the position our party has taken at the outset. Now the government, which is facing major corruption charges, has to answer why they have been taking such decisions," said CPM leader Sitaram Yechury.
The AIADMK is convinced that the BJP will remain an electoral burden for a long time to come, beginning the Lok Sabha polls next year, reveals N Sathiya Moorthy.
Gandhi said around 400 Congress members will be attending the Chintan Shivir in Udaipur from May 13 to 15 and stressed on the message of every leader holding one party post.
This comes after another global report by a US government-funded NGO, Freedom House downgraded India's status from "free" to "partly free" and claimed that "political rights and civil liberties have eroded in India since Narendra Modi became prime minister in 2014".
Applying the same yardstick, the present bench said the removal of thali chain is often treated as an unceremonious act.
Amid concerns over minorities being targeted in India, former Reserve Bank governor Raghuram Rajan on Thursday cautioned that an 'anti-minority' image for the country can lead to loss of market for Indian products and may also result in foreign governments perceiving the nation as an unreliable partner. India enters the perception battle from a position of strength, the professor at Chicago's Booth School of Business said, alluding to credentials like democracy and secularism, but warned that this battle is "ours to lose". The comments came a day after bulldozers tore down several concrete and temporary structures close to a mosque in Jahangirpuri as part of an anti-encroachment drive, days after the northwest Delhi neighbourhood was rocked by communal violence.
The Central Consumer Protection Authority (CCPA) on Wednesday said it has imposed a penalty of Rs 1 lakh on e-commerce firm Flipkart for allowing sale of substandard domestic pressure cookers on its platform, in violation of mandatory standards. Headed by Chief Commissioner Nidhi Khare, the CCPA has directed Flipkart to recall all such 598 pressure cookers sold on its platform, reimburse their buyers, and submit a compliance report within 45 days. The central government routinely notifies the Quality Control Orders (QCOs), specifying compulsory conformity to a standard and use of the standard mark for a product to protect consumers from the risk of suffering injury and harm and in the interest of the public at large.
The next quarter-century could mark India's rise as a nation to be more whole-heartedly admired if it addresses its institutional and policy failures, and focuses on reducing its inequalities and addressing its iniquities, asserts T N Ninan.
Economically Weaker Sections (EWS) have been given 10 per cent quota in admissions and jobs out of 50 per cent general category seats for the first time without eroding the "totally independent" reservation for SCs, STs and OBCs, the Centre told the Supreme Court on Tuesday.
According to the predictions made by National Congress Party leader and Deputy Chief Minister Chhagan Bhujbal, the newly formed Republican Left Democratic Front will threaten the prospects of Congress-NCP in the October 13-poll to the Maharashtra Assembly.
Moody's Investors Service on Thursday said India's rising vaccination rate, low interest rates and higher public spending drive the positive outlook for corporate sector.
Gandhi claimed that authoritarian tendencies are becoming clearer, with the erosion of fundamental rights being accompanied by a narrow imposition of conformity and obedience from dutiful citizens. voters polarised for electoral gains
'In view of these facts I do not find it useful to attend the 7th Governing Council meeting of Niti Aayog scheduled to be held on August 7, 2022 and I am staying away from it'
Rishi Sunak on Monday is all set to make history on Diwali as Britain's first Indian-origin prime minister after being elected unopposed as the new leader of the governing Conservative Party, following Penny Mordaunt's withdrawal from the race.
'A political party taking the law into its hands is objectionable, especially in the context of the 2002 incidents in Gujarat.'
Kerala Governor Arif Muhammad Khan slammed Chief Minister Pinarayi Vijayan and minister of higher education R Bindu over the issue of appointment in universities and said he is not able to work in an environment where too much political interference.
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