Prime Minister Narendra Modi on Monday stressed the need to make India's banks and currency an important part of the international trade and supply chain. The prime minister also exhorted financial institutions to continuously encourage good financial and corporate governance practices. Inaugurating the iconic week celebrations by the Ministry of Finance and Corporate Affairs as part of the Azadi ka Amrit Mahotsav, Modi said India has developed various financial inclusion platforms and there is a need to create awareness about them for their optimum utilisation.
Nifty50's earnings growth, estimated at 20 per cent by global research and brokerage firm Jefferies for financial year 2023-24 (FY24), will be amongst the top three in the Asian region, and is likely to outperform peers. Asean 40 index with 29.1 per cent estimated earnings growth and Straits Times Index (STI) with 29.1 per cent estimated earnings growth are the only two other indices in the Asian region that are likely to outperform India, suggests the recent Jefferies report, coauthored by Mahesh Nandurkar, their managing director along with Abhinav Sinha and Nishant Poddar.
The security agencies have been warning that militants belonging to United National Liberation Front, People's Liberation Army and other banned groups had become part of the mobs and carrying out sneak attacks on security forces as well as giving directions to the agitators.
Union Minister of Road Transport and Highways Nitin Gadkari on Tuesday unveiled the prototype of the world's first Bharat Stage (BS)-VI-compliant electrified flex-fuel car, developed by Toyota Kirloskar Motor. The car, which runs on 100 per cent ethanol (E100), is based on the Toyota Innova HyCross. It can cover 40 per cent of its distance on ethanol and the remaining 60 per cent on electric, with the petrol engine shut off.
Rating agency Fitch on Tuesday slashed India's growth forecast for the next fiscal to 8.5 per cent from 10.3 per cent, citing sharply high energy prices on account of the Russia-Ukraine war. With the Omicron wave subsiding quickly, containment measures have been scaled back, setting the stage for a pick-up in GDP growth momentum in the June quarter this year, the agency said. It has revised upwards the GDP growth forecast for the current fiscal by 0.6 percentage points to 8.7 per cent.
Global energy supermajor BP plc on Thursday said it is about to open its first 'Jio-bp' branded petrol pump in partnership with Reliance Industries near Mumbai.
The train arrived at Nagpur at 8.10 pm, bringing some relief to the state which is reeling under a surge in coronavirus cases and shortages of medical oxygen.
Prime Minister Narendra Modi's brother Prahlad Modi, who is also the vice president of All India Fair Price Shop Dealers' Federation, on Tuesday staged a dharna here with various demands of the organisation. Prahlad along with several other members of the All India Fair Price Shop Dealers' Federation (AIFPSDF) gathered at Jantar Mantar, holding banners and raising slogans.
Industrial metals (ferrous and non-ferrous) suffered great volatility once the Ukraine War began in February 2022. First, there was a sharp price rise due to fears of supply disruption, followed by weak global demand. China's weakness and rolling lockdowns have hit production and demand.
State-owned CIL on Thursday said that it has floated its maiden tender to import 2.416 million tonnes of coal to ensure adequate supply of the fuel to power plants in the country. The development assumes significance in the wake of the government making all efforts to build up stock of coal to avoid the reoccurrence of power outages which happened in April on account of shortage of the fossil fuel. "In a first ever, Coal India Limited (CIL) on Wednesday floated an international competitive bidding e-tender, seeking bids for import of 2.416 million tonnes (MTs) of coal," the company said in a statement.
India is one of the few countries in the region that enjoys good relations with both Israel and Saudi Arabia, and IMEC would allow it to recreate the old Spice Route to Europe. All this is in jeopardy now, notes Rajeev Srinivasan.
The KG-D6 fields, which began production in April 2009, hit a peak output of 69.43 mmscmd in March 2010 before water and sand ingress led to more than a third of the wells shutting down.
Chief Minister Arvind Kejriwal thanked the Centre on Thursday for supplying Delhi with 730 metric tonnes of oxygen and requested hospitals to increase Covid beds that they had to cut down due to shortage of the life-saving gas in the past few days.
Is it true that Nishant doesn't like Pratik hanging out too much with Moose?
The Turkmenistan event underscores the lengths to which China's oil-and-gas companies will go to curry favour in resource-rich locales.
Former deputy chief minister Sachin Pilot on Tuesday alleged that the Bharatiya Janata Party government at the Centre had 'failed in every field' and claimed if the Congress wins in upcoming state elections, then the Indian National Developmental Inclusive Alliance (INDIA) will form a coalition government in 2024.
Will Empire strike back to prevent a game changing election result, asks T P Sreenivasan.
'In terms of semiconductors, challenges do remain in the pan industry, but I think we are much better than where we were a year or so back.'
In the 38-page report, across 10 chapters, RIL explained how it entered the exploration and production business; the history of the New Exploration and Licensing Policy and the introduction of production-sharing contracts.
Global rating agency Moody's on Monday said the high commodity prices and supply chain disruptions due to further escalation in the Russia-Ukraine crisis could expose about 42 per cent of rated Indian companies to significant risks. They are mainly in the oil and gas and automotive sectors. The impact may be seen under two scenarios: first, revised base line and second being downside economic scenarios incorporating a global recession and a more severe liquidity squeeze, it said. The military conflict between Russia and Ukraine is impacting companies in Asia Pacific, adding to existing challenges from supply chain disruption and the coronavirus pandemic.
As the world's third-largest oil importer and consumer, India is running out of options as the relentless surge in international oil prices make it imperative to pass them on to consumers, officials said on Monday. India imports 85 per cent of its crude oil needs and about half of its natural gas requirement. While the imported crude oil is turned into fuels such as petrol and diesel, gas is used as CNG in automobiles and fuel in factories.
India's economy grew 6.1 per cent in the fourth quarter of 2022-23, pushing up the annual growth rate to 7.2 per cent, official data showed on Wednesday.
Dharmendra Pradhan lays bare the next course of action for his ministry and says RIL will have to pay the same price at which it produced the volumes.
The monthly electricity bills of the majority of domestic consumers in Delhi -- who use more than 200 units and up to 600 units -- will be hiked by up to Rs 265 due to an increase in the power purchase adjustment cost (PPAC) levied by discoms in the city, officials said on Monday.
Pre-Budget excercise next month should scrupulously avoid adventurism of all types and refrain from making excessively ambitious projections on revenue and expenditure numbers for 2023-24, suggests A K Bhattacharya.
Commodity investments can help you diversify your portfolio in asset classes other than equity and debt, says Dwaipayan Bose.
Lot will depend on the discom's ability to source cheap power and pass on the same to consumer
Russia on Thursday said it was not bothered at a possible price cap on its crude oil proposed by the West, saying Moscow will negotiate directly with its partners like India and China as the price should be decided between the producers and consumers, and "not someone who just decided to punish someone." Members of the G7 have agreed to impose a price cap on Russian oil in a bid to hit Moscow's ability to finance the war in Ukraine. Countries want to reach an agreement ahead of December 5, when Europe's embargo on Russian crude travelling by sea takes effect.
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By the end of 2020, India will lay 32,737 km across the length and breadth of the country. It needs to lay down and comply with strict safety standards especially since some of these pipes will go through areas of dense habitation, says Rashme Sehgal.
At a time when crude oil and natural gas prices are sky-high, public sector behemoth ONGC's haphazard planning and mismanagement in developing showpiece deep-sea KG-D5 block is costing the nation over Rs 18,000 crores due to the delayed output of oil and gas, government officials said. ONGC was originally to start gas production from the Cluster-II fields in block KG-DWN-98/2 (KG-D5) in June 2019 and the first oil was to flow in March 2020. But these targets were quietly shifted to end-2021 because of deferments in awarding the fragmented work packages of the project, two officials with direct knowledge of the matter said on condition of anonymity.
10 non-bank and non-finance stocks from the BSE500 Index universe that offer an optimal blend of low valuation, reasonably robust revenue and earnings growth in recent quarters, a strong balance sheet, and most importantly, positive cash flow from their operations.
India's production of crude oil, which is refined to produce petrol and diesel, continued to decline in November, with lower output from state-owned firms leading to an over 2 per cent drop, official data released on Tuesday showed. Crude oil production in November was 2.43 million tonnes, down from 2.48 million tonnes a year back and 2.5 million tonnes in October 2021. Oil and Natural Gas Corporation (ONGC) produced 3 per cent less crude oil at 1.6 million tonnes in November due to delays in mobilising equipment at western offshore fields.
PlanCom makes presentation with secretaries of key ministries in tow.
Indian officials will focus on expanding the country's footprint in oil-rich Siberia when they meet their Russian counterparts at the four-day 7th Eastern Economic Forum beginning Monday in Vladivostok. The two sides will discuss the possibility of joint oil exploration in the area and cooperation in running offshore oil and gas fields Western companies are in the process of exiting, officials said in New Delhi. Pavan Kapoor, India's ambassador to Russia, will lead the official-level talks at the summit scheduled September 5-8.
Delhi, reeling under high temperatures and an acute electricity shortage, will get additional gas supplies from the National Thermal Power Corporation and Dabhol to increase power generation and help meet demand in the national capital.
Investors are showing some interest in the downstream energy cycle. Refiners and marketers, especially the public sector (PSU) oil marketing companies (OMCs) could see a revival of marketing margins. Lower crude oil and gas prices may also improve margins in industries like paints, logistics, synthetic fabrics, plastics, and fertilisers. In the medium-term, however, there could be a supply overhang affecting OMCs as new refining capacities are scheduled to be commissioned, especially in China, and this may lead to a drop in the refining margins as capacity would be surplus to demand until and unless there's a pick-up in global growth.
The chief minister said certain steps by the government, including the introduction of an electric vehicle policy in 2020 and 24-hour electricity supply, had led to an 18.6 per cent decline in air pollution levels in the last four years.
'But unlike Bond who killed an individual, Israel is killing a nation.'
The storm is likely to impact Mumbai, Thane and other coastal districts of Maharashtra like Raigad and Palghar along with Valsad, Navsari, Surat, Bhavnagar and Bharuch districts of Gujarat and Union Territory of Dadra and Nagar Haveli and Daman and Diu. Preparations for the impending cyclone were discussed at a meeting of the National Crisis Management Committee (NCMC), headed by Cabinet Secretary Rajiv Gauba, a home ministry statement said.
'Investors should look to incrementally allocate towards equity from a medium-to-long term horizon.'
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