Equity benchmark indices Sensex and Nifty buckled under selling pressure after a nine-session rally on Monday, as massive sell-off in IT, tech and telecom counters unnerved investors.
Telecom infrastructure player Indus Towers has been largely ignored by investors with occasional bursts of trading when there's news flow. For example, the stock fell from Rs 188 (Jan 1, 2023) to Rs 135 (Jan 27) and then bounced back to Rs 165 in early February as the Government of India (GoI) converted Vodafone Idea's (Vi) debt into equity and Bharti Airtel pushed up its direct stake in Indus to 47.95 per cent. The cash-strapped Vi holds 21 per cent stake in Indus Towers and Indus also has substantial receivables to come in from Vi which is a negative overhang.
...current industry models will soon fade out, notes Ajit Balakrishnan.
He said over 30 people were detained for questioning during searches in 30 Rohingya settlements in Jammu city.
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Amadeus Altea Suite, a complete passenger service system, is currently used by more than 120 airlines across the world. Vistara is a 51:49 joint venture between Tata Sons and Singapore Airlines Limited.
This shows the strict pattern of civil services examination conducted by the UPSC for selecting country's top bureaucrats
For fast-moving consumer goods, growth is likely to be tepid.
Microsoft Chairman and CEO Satya Nadella along with Alphabet Inc and its subsidiary Google CEO Sundararajan Pichai are also among those from trade and industry who have been awarded the Padma Bhushan for their distinguished services.
The broking industry's pecking order is set to change with Groww, a fin-tech startup from Bengaluru, poised to topple the industry's poster boy, Zerodha, as the leading brokerage in the number of active investors. According to data provided by the portal Topsharebrokers.com, Zerodha has 6.32 million active investors, while Groww is at 5.99 million. It is projected that Groww, which has grown at a much faster clip over the past two years, will surpass Zerodha this month, or next month.
The retail industry witnessed robust top-line growth for the greater part of the previous financial year, but demand has started to show signs of fatigue seen in the January-March quarter (fourth quarter, or Q4) of 2022-23 (FY23), especially in the apparel and innerwear segments. Jewellery, however, has managed to hold on to demand in the quarter. "In the discretionary space, demand moderation in urban markets is expected to impact the quick-service restaurant and apparel categories the most, while paint, luggage, and jewellery should see resilient growth," Systematic Institutional Equities observed in its preview of the sector.
Former Speaker of state Assembly R Lalawia of Zoram Nationalist Party is the richest among the the 141 candidates who have filed nomination for the Mizoram polls on November 25.
Revenues of Indian companies, excluding those engaged in banking and oil, are expected to grow marginally at 5-6 per cent in the first quarter of this fiscal.
'The fact still remains that we will have to deliver, so the pressure is now on us to make sure we get our resources, our supplies lined up at acceptable costs.'
Real estate major DLF has come under the scanner of central revenue officials for allegedly evading service tax to the tune of about Rs 30 crore.
The staffers posed as US Internal Revenue Service department officials, making a daily turnover of Rs 1.5 crore.
A French court has ordered freezing of an Indian government property in Paris on a plea by Devas shareholders who are seeking to enforce a USD 1.3 billion arbitration award over a cancelled satellite contract, according to the court order copy.
Indian cities need $840 bn investment over 15 yrs, says World Bank report.
Visa delays have perturbed Indian visitors this summer. But a solution could be in sight soon, as embassies gear up to address the challenges caused by a spike in applications and staff shortages. While the British High Commission has said it is working urgently to reduce the current visa processing time, the German Embassy has introduced extra shifts to process more visas. However, appointments with the latter are fully booked till August-end due to high volumes.
Colonel Ajay Kothiyal, Kirti Chakra, Shaurya Chakra, is one of the most decorated soldiers to join politics. He still has two bullets lodged inside his body sustained in a gun battle with terrorists in J&K.
GoAir hopes to fly 15 million passengers by 2016-17, serve 30 destinations, up from 21 now, and will largely remain a domestic airline.
There has been no loss of revenue arising out of the Antrix-Devas deal as the agreement has been annulled, the Lok Sabha was informed on Wednesday.
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
The mobile user base is expected to grow to 815 million this year, from 755 million connections in 2013.
Its executives are test-marketing the model in New Delhi.
OSAT majors have concerns about India's ability to provide a stable, predictable, and lasting policy environment for years to come, which is key for making a decision in a capital-intensive business.
The rupee breached the 80-mark against the dollar on Tuesday. The steady depreciation in the value of the rupee against the US dollar is likely to prove expensive for corporate India. The listed companies' revenue expenses in foreign currency or imports exceed their export revenues or revenue earnings in forex. In their latest financial year, BSE500 companies, excluding banks and non-banking finance companies and insurance (BFSI), reported combined forex expenses of Rs 12.31 trillion against forex earnings of around Rs 10 trillion.
An aggressive rate hike by the US Fed and the possibility of a recession can trigger a slide in these stocks, which will be a good opportunity to buy from a long-term perspective.
There has been a sharp recovery in the headline corporate earnings in the April-June 2023 quarter (Q1FY24), after a dismal showing by early bird companies. The combined net profit of the 983 listed companies that have declared their quarterly results, so far, was up 64.7 per cent year-on-year to record a high of Rs 2.68 trillion in the first quarter, but growth in earnings remained lopsided because most of the incremental gains came from a handful of companies. Moreover, the quarterly numbers showed a continued slowdown in revenue growth.
After agonizing over this for weeks, he made a decision. When they met after work one evening, he startled her by blurting out, 'I think we should break up.' A moving excerpt from Chitra Banerjee Divakaruni's An Uncommon Love: The Early Life of Sudha and Narayana Murthy.
A young couple sharing a laugh - in the living room over a Polish joke book, on the beach, in the rain - with the tagline, "Made for each other", hung from billboards at prominent street corners from the 1960s to the 1990s. It was a campaign for one of the largest selling cigarette brands in India, Wills (Navy Cut) from the ITC stable, that resonated with a generation of smokers and non-smokers alike till the curtains came down on tobacco advertising in 2004. As we prepare to welcome 2024, ITC has metamorphosed from a tobacco giant into a conglomerate straddling multiple large-sized businesses. In the mind space of Gen Z or millennials, the company represents a gamut of branded products - from frozen food (ITC Master Chef), noodles (YiPPee!), and cookies (Sunfeast) to snacks (Bingo!) and notebooks (Classmate), and so on and so forth.
Funding winter and corporate governance woes separated the men from the boys in the country's startup space in 2023 that saw funds into the segment tapering to just around $8 billion. All said, investors are hopeful of strong growth of the maturing startup ecosystem in the new year. Edtech and health tech segments that grew exponentially during the pandemic plunged into an abyss of financial uncertainties, with several firms shuttering their business, and valuation of prominent players like BYJU'S and PharmEasy plummeting 85-90 per cent.
The decision was taken after Prime Minister Narendra Modi announced that the lockdown across the country will be extended till May 3 to fight the coronavirus pandemic.
Single Indians will continue to meet prospects over video calls even in a post coronavirus world, predicts Saurabh Goswami, founder-director, Ultra Rich Match, an online matchmaking company.
'A key reason for the strong interest in IPOs has been an increased focus on profitability and reasonable pricing of deals.'
Cabinet Secretary Rajiv Gauba will head a top panel, including a senior official from the Prime Minister's Office and seven secretaries, to monitor the implementation of the Centre's ambitious Mission Karmayogi programme for training of government employees, officials said on Monday.
Her reasoning is simple, "It's a Tata company. No shareholder will let go of this opportunity," she told Business Standard. When asked if the other reason for lining up for the IPO is the technology sector and the fact that the combination of Tata and tech is happening after almost two decades, she replied: "The name of the company and the group matter. Tata means stability and credibility," she added.
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From an idea inititated in a hostel room, Hearing Plus went on to become a national chain of hearing treatment clinics.
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.
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