Analyst are cautious about the performance of IT services sector from January to March quarter (Q4) of FY24 and the first half (H1) of FY25. While the Bloomberg consensus on revenue implies the market is expecting 2-3 per cent growth on a quarter-on-quarter (Q-o-Q) basis for the IT majors through FY25, the H1FY25 is likely to see even flatter returns, and Q4FY24 is likely to be poor. There is likely to be some recovery in the second half (H2FY25) but even so, there's a chance that the market will be overall disappointed.
As many as 40 companies, including Dell, HP, and Lenovo, have applied for the IT hardware PLI scheme with a commitment to make personal computers, laptops, tablets, servers and other equipment worth Rs 4.65 lakh crore during the scheme period, an official statement said on Thursday. If all companies get selected under the scheme then the government will need to increase the incentive amount to Rs 22,890 crore against the budgetary allocation of Rs 17,000 crore, according to the note. "Total 40 applications have been submitted till the closure of the window on August 30.
The government has decided to extend the Rs 25,938-crore production-linked incentive scheme for the automotive sector by one year, Union Heavy Industries Minister Mahendra Nath Pandey said on Tuesday. Post extension, the five-year scheme, originally in place from 2022-23 to 2026-27, will be active until 2027-28. At present, incentives are applicable under the scheme for determined sales of Advanced Automotive Technology (AAT) products (vehicles and components) manufactured in India from 1 April 2022 onwards for a period of five consecutive years.
The government on Tuesday restored the payment of productivity-linked incentives (PLI) to Air India's functional directors, five months after stopping it. With losses mounting, the Air India Board had approved a cut of up to 50 per cent in the monthly PLI for the airline's executive directors and other functional directors in September last year, as part of cost-cutting measures.
Engineering conglomerate Larsen & Toubro (L&T) is preparing the ground to begin the commercial sale of electrolysers in September, which would be 50 per cent cheaper than its European counterparts, a senior company executive has said. An electrolyser is a key equipment required for the generation of green hydrogen. Last quarter, L&T manufactured its first electrolyser as a prototype.
The tourism ministry wants rationalisation of import duty on adventure sports equipment to promote adventure tourism in the country. There is a proposal for exemption of service tax for inbound tour operators on their foreign exchange earnings. Sources said Tourism Minister Kumari Selja would submit the detailed proposals to the finance ministry, seeking various tax incentives for the sector.
Commerce and Industry Minister Piyush Goyal has visited the manufacturing facility of US-based electric vehicle major Tesla at Fremont, California and said that the company would be doubling its auto components imports from India. The minister is in the US on a four-day visit. The world's largest electric car producer Tesla Inc's chief Elon Musk met Prime Minister Narendra Modi in June in New York and after the meeting Musk had said that he planned to visit India in 2024.
According to the Chief Minister, Pallikal will receive a government 'high cash incentive' of Rs 60 lakh for winning two silver medals, while Chinnappa and Ghosal will get Rs 30 lakh each for their respective single silver medals.
Many promoters still consider the cash in the company as their money and are averse to sharing this pie with minority investors, points out Akash Prakash.
The National Pension System (NPS) added 21.5 per cent fewer fresh subscribers under the corporate segment in 2023 compared to the preceding year. Government officials and experts attribute it to the higher exemption limit of income tax of Rs 7 lakh announced in the FY24 Budget that no more requires employees under this income bracket to opt for NPS for tax-saving purposes. Data collated from the Ministry of Statistics and Programme Implementation (MoSPI) reveals that the corporate component is voluntary in nature and saw 158,212 new subscribers in 2023 compared to 201,517 during 2022.
Aadujeevitham (The Goat Life) is undoubtedly one of the most successful experiments in Prithviraj's journey as an actor, applauds Divya Nair.
'When you weigh anti-incumbency against the Centre against anti-incumbency against the state, anti-incumbency against the Centre will triumph as this is a parliamentary election.'
In the run-up to Apple CEO Tim Cook's visit to India, government officials are finalising the talk points with the Cupertino-headquartered tech major. Officials said that the government would like Apple to "deepen" the company's engagement in the manufacturing and assembly of iPhones in the country and not limit itself only to the minimum commitments made under the production-linked incentive (PLI) scheme for mobile devices. The conversations between the two sides are likely to focus on that.
Take the Rediff Business Quiz and find out how much you know about the world's biggest fashion houses.
The upcoming series against India provides Australia a chance to claim the No 1 ranking in One-Day Internationals, and Adam Voges says a good start to the seven-match rubber is the key to attaining that goal.
The Securities and Exchange Board of India (Sebi) is discussing with mutual funds (MFs) a proposal on introducing new total expense ratio (TER) slabs linked to the total equity and debt assets by replacing the current ones that are linked to assets of an individual scheme. Senior MF executives confirmed that Sebi had held discussions on this matter with AMCs. Such a change is expected to lead to a lower TER cap for bigger asset management companies (AMCs).
Rajasthan has lined up a slew of incentives and benefits for startups to set up base there as the state aims to become a technology hub like, Andhra Pradesh and Karnataka.
Along with offering a trophy and spot in the tennis history books, the four Grand Slams also provide serious financial incentive for would-be champions.
Bajaj Auto has virtually closed the gap with Ather Energy in September, notching up 6423 EV registrations compared to 6466 registrations by Ather.
The BCCI has always announced handsome performance incentives over the year whenever the senior or U-19 teams have done well in bilateral series or limited overs tournament but in current scenario, the richest cricket board's hands are tied as per Supreme Court order. The Supreme Court of India has passed an order that limits the BCCI's financial freedom and power until the board and its state associations comply with the Lodha Committee's recommendations.
Smart devices maker Samsung continued to lead the smartphone market in the country for the fourth consecutive quarter in July-September with a 17.2 per cent market share, market research firm Counterpoint said on Wednesday. Shipments of iPhone maker Apple crossed 2.5 million units in the reported quarter thereby registering an all-time high in a quarter, according to the Counterpoint's Monthly India Smartphone Tracker report. "Samsung maintained its leading position for the fourth consecutive quarter with a 17.2 per cent share driven by the success of its A and M series.
'Rather than taking a very short-term view on the markets, equity investing should be premised on longer term growth opportunities.'
'Data-dependence means you can raise or drop rates. The present stance is only for raising rates.'
As many as 32 companies, including global biggies like HP, Dell and Lenovo, have applied under the Production Linked Incentive scheme for IT hardware, Union Minister Ashwini Vaishnaw said on Wednesday. The expected incremental production under the scheme is pegged at Rs 3.35 lakh crore, said Vaishnaw, Minister for Electronics and IT.
The government on Friday approved an electric-vehicle policy, under which duty concessions will be given to companies setting up manufacturing units in the country with a minimum investment of $500 million, a move aimed at attracting major global players like US-based Tesla. According to an official statement, the companies setting up manufacturing facilities for e-vehicles will be allowed to import a limited number of cars at lower customs duty. The policy seeks to promote India as a manufacturing destination for EVs and attract investment from reputed global EV manufacturers, it added.
In a big push to the production-linked incentive (PLI) scheme, the government has nearly doubled (increase of 81 per cent) the allocation in five key industry segments from Rs 8,405 crore in the Revised Estimate of FY24 to Rs 15,198 crore in the Interim Budget for FY25. The segments cover over eight PLI schemes, including mobile phones, IT hardware, pharma (PLIs for medical devices, intermediates and pharmaceuticals), food processing, telecom hardware and, auto and auto components. In FY24, DPIIT officials, however, said that the disbursements would be much higher at around Rs 11,000 crore than what has been budgeted for the year.
The United Nations Food and Agriculture Organisation (FAO) has proposed cash incentives for farmers adopting eco-friendly practices.In its annual publication, The State of Food and Agriculture 2007, FAO noted that agriculture employs more people and uses more land and water than any other human activity.
Employee stock options offered to executives as part of their compensation package increase the risk of company officials misrepresenting financial outcomes to rig share prices, says a new study.
Apple Inc is expected to produce iPhones worth $12 billion (freight on board value) in India during 2023-24, according to discussions between the company's vendors and the government. This would account for around 12 per cent of Apple's global iPhone production-higher than the earlier plan of shifting around 9 per cent of the total to India by FY24, which is the third year of the PLI (production-linked incentive) scheme.
The list of services eligible for duty credits under the Served From India Scheme has been pruned by removing important areas such as computer consultancy services, software implementation, data processing and database services.
Avoid relying on a bank RM for investment advice. Instead, approach a Sebi-registered investment advisor whose livelihood depends on the fee paid by his customers and not on product commissions.
As attrition rates reach unprecedented levels in the retail sector, companies are fighting back with a mix of measures including salary hikes, incentive-based targets, connecting emotionally with staff and even selling them the "American Dream".
Ahead of the upcoming elections, political parties have started announcing incentives to benefit women, but what do women truly seek for genuine gender parity, asks Nivedita Mookerji.
The sector has sought a mandatory natural catastrophe cover to cover perils in calamity-prone areas.
Exports of electronics goods has risen by 24 per cent from April to November as compared with the same period in the last fiscal, the largest increase out of India's top 10 export categories. The increase has been propelled by mobile exports under the Production Linked Incentive (PLI) scheme and has pushed electronics up from sixth to fifth position in the top 10. A gap of $200 million separates electronics from occupying the fourth position, currently held by drugs and pharmaceuticals at $17.9 billion.
'The focus needs to shift towards the ability to collect payments, particularly in tier-3 to tier-4 areas where acceptance is still lacking.'
Encouraging results for PayTM (One97 Communications) for the 2022-23 financial year (Q4FY23) have led to a surge in the company's stock price, gaining nearly 5 per cent during Monday's trade. PayTM reported Q4FY23 revenues at Rs 2,330 crore, up 51 per cent on year-on-year (YoY) basis (13.2 per cent quarter-on-quarter or QoQ), led by monthly transaction user (MTU) growth of 27 per cent and average revenue per user or ARPU growth of 19 per cent YoY. MTU is defined as users with at least one transaction/month.
The Bill was introduced in the Legislature in April this year, but despite being listed on the agenda during the recently concluded Monsoon Session, it could not be taken up for discussion.
After a stellar run on the bourses that saw tractor stocks rise up to 52 per cent, analysts are turning cautious on the sector as muted demand trends may weigh in the near-term. Total volumes in the tractor segment for the last three quarters of the current financial year (9MFY24) have remained weak with VST Tillers, Escorts Kubota, and M&M seeing declines of 21 per cent, 5 per cent, and 3 per cent year-on-year (Y-o-Y), respectively, during the period, amid patchy rainfall, delayed crop harvest, and lower reservoir level. Across industry, total domestic sales volume so far in the current financial year (April '23 to January '24) has declined 5 per cent Y-o-Y, as per Tractor Manufacturers Association (TMA).
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