'Sector funds like IT funds should be included only in the satellite portfolio.' 'Limit your exposure to IT sector funds to around 5-10 per cent of your equity portfolio.'
The team had arrived in the early hours of Tuesday at Ezeiza airport. Despite it being around 3am local time (0600 GMT), thousands were waiting with banners, flags and flares and howling with joy after Messi and his team mates ended the country's 36-year wait to win the World Cup.
Revising up inflation bands for the central bank will hurt the poor, former deputy governor of RBI Viral Acharya said on Wednesday, terming the current 4 per cent midpoint on price-rise as a "reasonable target".
Investors' wealth has tumbled by over Rs 5.82 lakh crore in three days of market decline. Feeble global cues, foreign fund outflows and concerns over policy tightening by central banks have led to the selling pressure, experts said. Declining for the third straight session on Monday, the 30-share BSE benchmark Sensex nosedived 1,023.63 points or 1.75 per cent to close at 57,621.19. In three days, the benchmark has tanked 1,937.14 points.
As the Indian currency hovers around its lowest versus the US greenback, several smaller and mid-sized companies are expected to face rough weather as almost 44 per cent of the foreign loans taken by Indian companies remained unhedged. According to the data sourced from the Reserve Bank of India, Indian companies raised around $38.2 billion in the financial year ended in March. Of this, only 56 per cent of the loans are hedged while the rest of the foreign loans remain unhedged, thus risking the companies to forex volatility.
In winning a seventh term, the BJP also matched the Left Front's feat in West Bengal.
There are lessons for the Congress to learn from the Karnataka elections of how burying the hatchet among top leaders and not washing dirty linen in public can help, says Ramesh Menon.
I am staying here for the last five years. The situation is really bad there (in Afghanistan). The people staying there are far from the normal situation. People are trying to come out and move to either Iran, Tajikistan or India just to save themselves.
Come December, India may have to re-evaluate purchases of Russian oil if a price cap on crude oil proposed by the US and the European Union (EU) comes into effect. That impacts nearly a quarter of India's oil purchases that come at a discount, helping limit marketing losses for India's state refiners and enabling New Delhi to manage inflation by freezing pump prices of motor fuels. In September, India imported 1 million barrels a day or 24 per cent of its overall imports from Russia, which became the biggest supplier of oil to India.
There is no direct impact of the Russia-Ukraine crisis on India in terms of bilateral trade but a surge in oil prices poses considerable risk to the economy, an analyst report said on Friday. International oil prices which have surged past $100 per barrel "pose risks to external stability and currency movement," a Bank of Baroda Economics Research report said. Russia has launched military operations against Ukraine, stoking fears of significant disruption in the region, including loss of life. The West is ramping up financial sanctions against Russia and support for Ukraine.
The Indian economy has recovered 'handsomely' from the pandemic-induced disruptions, former Niti Aayog vice chairman Arvind Panagariya said on Tuesday, while expressing hope that the recovery will be sustained and the growth rate of 7 to 8 per cent will be restored. Panagariya suggested that the government must now signal its intention to wind down fiscal deficit by cutting it by half-to-one percentage point in 2022-23. "The Indian economy has recovered handsomely, returning to its pre-COVID GDP... "Only private consumption is still below its pre-COVID-19 level," the eminent economist told PTI in an interview.
The economic impact of the Omicron variant of COVID-19 on emerging economies will depend on a mix of government restrictions, public comfort with social interactions, and capacity of governments and central banks to provide additional policy support to the private sector, Moody's Investors Service said on Wednesday. The emergence of the new variant poses new risks to the global economic growth and inflation outlook, as concerns mount about the variant's health risks and several countries have imposed new travel restrictions in recent days. These restrictions will likely increase over the coming weeks until scientists learn more about the variant, it said.
Vegetables account for 5.44 per cent of the Consumer Price Index.
The difference between what the banks play in the US and India is not that of soccer and football but rugby and football. SVB also has a unique character. But when risks are mispriced, the fallout could be very similar, points out Tamal Bandyopadhyay.
Titan was the top gainer in the Sensex pack, rallying over 5 per cent, followed by Bajaj Auto, Bajaj Finserv, SBI, Nestle India, ITC, Axis Bank and Tata Steel. Nifty rose 46 points to its fresh closing peak of 17,991.95.
Congress leader Rahul Gandhi, who embarked on the 'Bharat Jodo Yatra' from Tamil Nadu's Kanyakumari on Wednesday, will be staying in a container for the next 150 days.
The uncertainty created by the jump in COVID-19 infections and localised lockdowns prompted RBI Governor Shaktikanta Das and other members of the rating setting panel MPC to unanimously vote for status quo in interest rates and an accommodative policy stance to support growth, as per minutes of the meeting released on Thursday. "The need of the hour is to effectively secure the economic recovery underway so that it becomes broad-based and durable," the Governor said during the three-day meeting of the Monetary Policy Committee (MPC) which ended on April 7. The renewed jump in COVID-19 infections in several parts of the country and the associated localised and regional lockdowns add uncertainty to the growth outlook, he observed, as per the minutes of the meeting released by the central bank.
Business reacted with caution to the reforms of 1991, and demanded protection from multinationals and imports. Twenty-five years later, traces of that demand can still be found, reports Bhupesh Bhandari.
Weakness in the greenback overseas against the backdrop of sluggish US macro data outcome helped the home currency move higher
Faced with sluggish economic growth and dwindling exports, China on Wednesday devalued its currency for the second consecutive day.
During the pre-budget consultation with Union finance minister, some states made a case for fiscal expansion by boosting consumption to tide over the sluggishness in the economy.
As they feel that the rupee may depreciate to 43.75 levels over the next six months.
Sliding for the fourth straight day, the BSE Sensex shed 152 points in choppy trade on Wednesday amid mixed global cues ahead of the US Federal Reserve's policy decision.
HDFC Bank was the top loser in the Sensex pack, falling 2.99 per cent, followed by Adani Ports at 2.87 per cent.
Retail sales of passenger vehicles grew last month but the sales of two-wheeler and commercial vehicles remained low compared to the pre-COVID month of May 2019, according to automobile dealers' body FADA. On Monday, FADA said that overall auto retails stood at 16,46,773 units in May, down from 18,22,900 units in May 2019. "May 2022 retails when compared to May 2019 reveal that sales are still not on a growth trajectory as overall retails were down by 10 per cent.
The adverse impact on the margins of auto, consumer staples and consumer durables sectors will be counterbalanced by an earnings uptick in the metals, cement and oil & gas sectors.
The central bank's next monetary policy review is scheduled for April 5. It had kept the policy rate unchanged in its February meeting on fears of inflation.
India's manufacturing sector activities witnessed the strongest rate of growth in three months in July amid improved demand conditions and easing of some local COVID-19 restrictions, a monthly survey said on Monday. The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) rose from 48.1 in June to 55.3 in July, pointing to the strongest rate of growth in three months. In PMI parlance, a print above 50 means expansion while a score below 50 denotes contraction.
Jhunjhunwala, one of India's well-known individual investors, was speaking at the India Economic Conclave organised by the Times Network. He said he won't rule out 5-10 times gains in state-owned banks over the next five years. Shares of PSBs have been on a tear this year. The Nifty PSB index is up 20 per cent so far this year.
JP Morgan has downgraded the Indian information technology sector to 'underweight' as it believes the heydays of the sector are over. Rising margin headwinds in the near-term and the revenue headwinds in the medium-term from a potential macro slowdown, Ankur Rudra and Bhavik Mehta of JP Morgan said in the report, will mean that the sector's earnings upgrade cycle is behind. "We see peak revenue growth behind us and earnings before interest and taxes (EBIT) margins trending down from inflation, mean revision.
The Finance Ministry is of the opinion that Vodafone might drag its tax dispute to court.
The National Assembly session for the move is expected to be convened on March 21 and the voting is likely to be held on March 28.
As stringent sanctions imposed by the European Union and US are crippling business and trade, desperate Russian oil companies are offering huge discounts to India, provided a payment mechanism to bypass the SWIFT ban is quickly approved by the government. According to sources familiar with the development, Russian oil firms are offering 25-27 per cent discount to the dated Brent crude prices. State-run Rosneft is one the biggest oil companies that supply crude to India.
Christopher Wood, global head of equity strategy at Jefferies reiterate his bullish view on Indian equities on the back of a steady fall in Covid cases coupled with a sharp economic recovery in India, reports Puneet Wadhwa.
The Reserve Bank of India (RBI) on Friday decided to leave the benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance, implying rate cuts in the future if need arises to support the economy hit by the Covid-19 pandemic.
As good as Mammootty is playing Sundaram, we see this facet of his performance through two lenses: That of Sundaram being an offset to whatever we know about James, and that of Mammootty doing quintessentially Tamil tics, including enacting scenes from old Tamil movies like solo plays, observes Rohit Sathish Nair.
International oil prices retreated from an over seven-year high but was still above $100 a barrel and continue to pose threat to India's inflation rate and current account deficit. While there are no supply concerns as the oil route remained open, consumers will feel the pinch when PSU oil firms start passing on the increase in international rates through a revision in petrol and diesel prices, which have been on a pause for over three-and-a-half-months in view of elections in Uttar Pradesh and four other states. The government is "closely monitoring the situation" and will "take appropriate steps as and when required", a top official said. Brent crude oil surged past $105 per barrel on Thursday for the first time since August 2014, following Russia's invasion of Ukraine.
After the hit of the pandemic, India Inc is now worried about the adverse impact of inflation and higher commodity prices on their revenues and margins. The inflation scare is the strongest among manufacturers of consumer goods such as automobiles, consumer durables, and fast-moving capital goods (FMCG). Companies across sectors fear they will not be able to pass on the hike in input costs to their consumers due to weak demand, which, in turn, would lead to a hit on margins and profitability in the forthcoming quarters.
The road to AICC headquarters in New Delhi was blocked on Wednesday with the Congress alleging the party was "under siege" while the police said barricades have been erected and its personnel deputed to avoid any untoward situation.
Empowered committee of state finance ministers on value-added tax has sought to allay fears of traders that the new tax system will lead to increase in prices, stating that the worldwide experience did not support this apprehension.
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