The one-time restructuring of loans will help every firm and prevent cost-cutting measures such as lay-offs.
The Union government could target a fiscal deficit of 5.8-6 per cent of nominal GDP for 2023-24, and it should continue its capital expenditure push and look to simplify the personal income tax regime, economists recommended Finance Minister Nirmala Sitharaman and her team during their pre-Budget interaction on Monday. Starting last week, Sitharaman had eight pre-Budget consultations this time. More than 110 invitees representing seven stakeholder groups participated in these meetings, the finance ministry said in a statement. The stakeholder groups included representatives and experts from agriculture and agro-processing industry; industry, infrastructure & climate change; financial sector and capital markets; services and trade; social sector; trade unions and labour organisations; and economists.
Jet Airways, which is preparing to relaunch operations next year, on Friday said it is in "advanced discussions" with Boeing and Airbus for buying and leasing planes. The grounded airline has been acquired by Murarilal Jalan-Kalrock Capital consortium under the insolvency resolution process. The ongoing discussions are part of the grounded airline's revival plan approved by the Mumbai bench of the National Company Law Tribunal (NCLT), the airline said in a regulatory filing on Friday.
The fiscal deficit of the Centre remains a worry, running at over 6.5 per cent of GDP in April-September 2014, mainly because of revenue shortfalls from exaggerated projections in the government's July Budget and despite the relief on subsidies from lower oil prices.
Congress president implored the party to have a 'concrete agitational agenda' to go directly to the people instead of merely being aggressive on social media.
Prices of two-wheelers, passenger and commercial vehicles are set to rise 15-25%
For BCPL's branded petrol, Speed, the price differential with regular petrol is now between Rs 2.74 and Rs 3.75 per litre.
In order for life insurance customers to attain maximum benefits, it is crucial for the persistency ratio to be far higher than its current level, top executives of the industry said at the Business Standard BFSI Insight Summit on Thursday. The persistency ratio is a metric that measures the number of policyholders who continue paying renewal premium and is gauged at varying stages in the life of a policy. A higher persistency ratio is seen as an indicator of an insurance product that caters satisfactorily to the needs of a customer.
Things are looking up for engineering firms and Siemens is likely to be one of the leading beneficiaries. Apart from the generic revival in activity, which is expected to continue through the 2023-24 financial year (FY24), the Budget has a strong infrastructure thrust, which works in Siemens' favour. The company reported a standalone Ebitda (earnings before interest, tax, depreciation and amortisation) of Rs 550 crore (up 66 per cent year-on-year or YoY) in Q1FY23 (Siemens follows the October-September accounting year).
Bharti Airtel on Tuesday announced that it has scrapped the minimum recharge plan of Rs 99 in seven circles -- Andhra Pradesh, Bihar, Himachal Pradesh, Karnataka, Northeast, Rajasthan, and Uttar Pradesh (West). In these circles, the price of the entry-level plan now would be Rs 155. This 57 per cent increase in Airtel's entry-level plan comes two months after the telco discontinued the Rs 99 plan in Haryana and Odisha in November last year.
Credit card spends touched an all-time high of Rs 1.16 trillion in July, registering a growth of 6.5 per cent on a month-on-month basis and 54 per cent year-on-year, latest data put out by the Reserve Bank of India revealed. Spends have topped the Rs 1 trillion level for five consecutive months now. Industry participants are expecting further tailwinds in credit card spends with the onset of the festive season, where spends typically remain at an elevated level.
The actor died on Friday after suffering a heart attack at a gym in Mumbai. He was 46.
Expressing disappointment over the RBI's move for not cutting the key policy rates, India Inc on Tuesday asked the government to take immediate action to revive growth and boost investments.
Mixed earnings and not so encouraging macroeconomic data dented sentiment, Ajit Mishra, VP - Research, Religare Broking Ltd said. In twin blows to Indian economic revival, higher food prices drove retail inflation to a five-month high of 7.4 per cent, while factory output fell for the first time in 18 months. The second consecutive month of rise in consumer price index (CPI)-based inflation will add to the pressure on the Reserve Bank of India (RBI) to again raise interest rates to tame high prices. In the broader market, BSE Midcap declined 0.73 per cent while smallcap dropped 0.45 per cent.
With the fresh wave of COVID-19 plunging the hospitality sector back into uncertainty, industry body HAI on Monday said it has asked the government to consider granting infrastructure status to hotels, extend moratorium on loans and rationalise taxes. In its pre-Budget memorandum, the Hotel Association of India (HAI) said policy interventions are imperative for the sector's survival and its early and quick rebound to normalcy. "The hospitality industry was slowly getting into a recovery mode on the strength of domestic tourism - leisure and events, only to be plunged back into uncertainty on account of the Omicron threat.
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.
Newly-launched carrier Akasa Air is aiming for over 250 flights per week operating over nine domestic routes by the second week of October, the airline said on Friday as it announced entry in the highly-competitive Delhi market. The airline, founded by late stock market investor Rakesh Jhunjhunwala along with aviation industry veteran Vinay Dube, launched its operations on August 7 with a flight to Ahmedabad from the financial capital. Since then, it has expanded the route network to Chennai, Kochi, Bengaluru.
Over the past three trading sessions, the stock of Cummins India has gained about nine per cent on strong January-March quarter (Q4) results and good near-term prospects. Its Q4 performance was led by a healthy 29 per cent revenue growth over the year ago quarter. This was largely on the back of a 33 per cent jump in domestic revenues while exports witnessed a growth of 17 per cent.
Riding on an improved show across parameters, TVS Motor (TVS) outperformed larger two-wheeler peers Hero MotoCorp (Hero) and Bajaj Auto (Bajaj) during the September (Q2 of FY23) quarter. The Chennai-based firm, which has the most-diversified portfolio among two-wheeler majors, posted a 28 per cent jump in revenues. This compares to 18 per cent growth for Bajaj Auto and single-digit uptick for Hero MotoCorp.
Shahid's OTT debut, Ajith's bumper hit, and lots of romance. Sukanya Verma gives you some OTT recommendations for the week.
From the Sensex pack, State Bank of India, Axis Bank, IndusInd Bank, Tech Mahindra, HCL Technologies, Tata Consultancy Services, Maruti Suzuki, Tata Steel and Tata Motors were the major gainers. Power Grid and HDFC Bank were the laggards from the pack.
Market leaders saw good traction for new cars, including the electric ones.
Finance Minister Nirmala Sitharaman will kick start the customary pre-Budget consultation exercise with stakeholders from Wednesday by holding the first such meeting with experts of agriculture and agro-processing industry. She will be seeking inputs from various stakeholders, including industry bodies, farmer organisations and economists for reviving consumption and boosting growth hit by the COVID-19 pandemic. The growth this year is expected to be in the double-digit during the current fiscal.
'Markets are not expensive; they are fairly priced.'
Local residents say until about two months ago, this board carried the name of Motorola, which once had a manufacturing unit in Sriperumbudur, 40-odd km from Chennai in Tamil Nadu. In May 2020, Luxshare Precision Industry Co, a China-headquartered AirPods and iPhone assembler, had entered into a deal with the Tamil Nadu government to take over the defunct Motorola unit.
Campa is set to take on its competition, which pushed it out of the aerated drinks business in the late 1990s, but this time with a new owner - Reliance Industries. Campa's entry comes at a time when aerated drinks as a category is already saturated. But experts say this could give rise to competition in the segment, eventually causing the space to grow.
Investors seem to be shying away from stocks of companies in the 'digital' space with most counters that comprise the Nifty India Digital index giving negative returns over the past year. The index tracks the performance of a portfolio of stocks that broadly represent the 'digital theme' within basic industries, such as software, e-commerce, IT-enabled services, industrial electronics, and telecom services. The fall in some of these stocks over the past year has been steep; the sharpest decline of around 60 per cent was seen in shares of PB Fintech (parent company of Policybazaar).
India's housing sector is witnessing probably the "biggest boom" in the last one and half decade driven by various factors such as affordability and customers aspiration to own homes, HDFC Capital Advisors Managing Director and CEO Vipul Roongta said on Tuesday. Addressing a real estate summit organised by FICCI, he noted that the residential real estate segment has revived strongly after going through a lot of pain due to new realty law RERA and demonetisation. "In the last one and half decade, I think this is probably the biggest boom I am personally seeing as an organisation on the residential segment, whether it is affordable mid-income and premium housing properties," said Roongta, who is also co-chairman, FICCI Real Estate Committee.
The industry hoped that the new government would keep the excise duty rates at the existing level to help the sector come out from a prolonged demand slump.
Ms Banerjee's triumphal declaration of having attracted investments worth Rs 2.43 lakh crore at the summit, are numbers that no one but she and the enigmatic state finance minister Amit Mitra believe, points out Kanika Datta.
Around 55 per cent of land in the 36 operational special economic zones (SEZs) in Tamil Nadu is lying vacant owing to various reasons, including the recent economic slowdown.
Watch Jubilee's concluding episodes. Radhika Apte is a housewife turned spy. Mithunda makes his OTT debut. Sukanya Verma lists her recommendations.
L&T is the preferred pick, but given the opportunities in the power T&D space analysts are also positive on KEC, ABB and Kalpataru
A five-judge Constitution bench headed by Justice Sanjay Kishan Kaul, in a unanimous verdict, ruled that its 2014 verdict, which had struck down a provision of the Delhi Special Police Establishment (DSPE) Act, 1946 providing immunity to such officers in graft cases, will have retrospective effect.
Car makers are cautiously optimistic, even as two-wheeler firms are clearly upbeat.
Kapoor charges between Rs 3 and Rs 3.5 crore for a day's work for a brand. His current roster of brands include Asian Paints, Pepsi, Panasonic, Renault, Flipkart, Macroman, Saavn, and Hero MotoCorp.
With a revival in demand and consumption, FMCG companies are looking forward to 2022 with positivity and hopes of sustaining a healthy growth trend across both rural and urban markets while gearing up to cater to the ever-increasing digitally active consumers and tackle the challenge of higher commodity prices. Health and wellness and convenience are going to remain key trends and FMCG companies are strengthening their core brands, driving premiumisation across their portfolios with targeted innovations as consumers are gravitating towards trusted brands looking for quality, purity and hygiene, in continuation of the trend that started since the pandemic last year. FMCG makers are accelerating digitalisation and are investing in building capability in e-commerce and Direct-to-Consumer channels, identifying it as a key vector of their growth as the threat of a possible third wave is still not away.
In the longer-term, analysts expect IHCL to see revenue CAGR of 15 per cent between FY23 to FY25 and Ebitda CAGR of 20 per cent in the same period. Analysts are seeing targets of around Rs 375-Rs 380 for the stock, which is a significant upside from the current Rs 313.
India must integrate more with East Asia by getting into regional trade arrangements, lower its tariff walls, and improve the quality of its workforce, suggests T N Ninan.
