With billionaire Gautam Adani charged in the United States with alleged bribery and fraud, the Congress on Thursday said it 'vindicates' its demand for a Joint Parliamentary Committee investigation into the various 'scams' involving his conglomerate.
Inflation in food articles during June stood at 2.04 per cent, as against 1.13 per cent in May.
S&P Global Ratings on Monday raised India's growth forecast for the current financial year to 6.4 per cent, from 6 per cent, saying that robust domestic momentum has offset headwinds from high food inflation and weak exports. The US-based rating agency, however, has cut growth estimates for the next fiscal (2024-25) to 6.4 per cent, as it expects growth to slow in the second half (October-March) of the current fiscal, on higher base impact and subdued global growth.
The World Bank on Tuesday raised the growth forecast for the Indian economy to 7 per cent for the current fiscal year on the back of recovery in agri sector and rural demand. World Bank had in June projected India to grow at 6.6 per cent for FY24. According to the World Bank Report released on Tuesday, India's growth continues to be strong despite a challenging global environment.
Hero MotoCorp (HMCL) saw strong volume performance in the first quarter of the current financial year (Q1FY25), but margins disappointed due to weak spare part sales and negative electric vehicle (EV) margins. The company hopes for a strong festive season due to better rural sentiment. Revenue grew 16 per cent year-on-year (Y-o-Y) to Rs 10,140 crore, operating profit was up 21 per cent to Rs 1,460 crore, and adjusted net profit grew 19 per cent Y-o-Y to Rs 1,120 crore.
Geopolitical events, macroeconomic data and quarterly earnings of corporates would guide the stock market in a holiday-shortened week ahead, analysts said. Stock markets will remain closed on Wednesday for Ram Navami. "This week promises to be crucial for the market as fresh worries about a potential conflict between Iran and Israel emerge.
Retail inflation crossed the RBI's comfort level and rose to 5.21 per cent in December on increase in prices of food items.
US's terrible political and economic leadership will ultimately cost the dollar its value. India must act early to avoid being dragged down, suggests R Jagannathan.
Global rating agency S&P on Tuesday said even though the US and the Euro zone are headed to recession, India is unlikely to face the impact given the "not so coupled" nature of its economy with the global economy. "Indian economy is a lot decoupled from the global economy than we normally think of, given its large domestic demand, even though you (India) are a net importer of energy. "But you have enough forex reserves on one hand and your companies have managed to maintain healthy balance sheets," Paul F Gruenwald, S&P global chief economist and managing director, told reporters in Mumbai.
'Election years tend to see high government expenditure on unproductive schemes, though that money sloshing around can boost private consumption.' 'Again, it can mean higher inflation,' explains Devangshu Datta.
From the Sensex basket, NTPC, Power Grid, IndusInd Bank, Tata Steel, Tata Motors, JSW Steel, Tech Mahindra and Larsen & Toubro were the biggest gainers. Bharti Airtel, Maruti, ICICI Bank and Asian Paints were the laggards.
Interview with former Reserve Bank of India governor by Duvvuri Subbarao.
The government should not go in for an 'aggressive fiscal consolidation' in the upcoming Budget as global risks have not abated, RBI Monetary Policy Committee (MPC) Member Ashima Goyal said on Wednesday. Goyal further said subsidies are expected to come down as food and energy inflation moderates. WPI inflation in food articles in November was 1.07 per cent against 8.33 per cent in the previous month.
Higher prices are burdening household budgets and threatening the margins of leading manufacturers.
Whether this remains under control in the coming months will depend on the future intensity and spread of the Russia-Ukraine war, and the effectiveness of the Indian government's response, points out A K Bhattacharya.
For those looking for more affordable options, purchasing an under-construction property could be a smart move, as these generally cost less than ready-to-move-in properties.
Four men were arrested in Madrid, police said, three of whom were members of "a radical group of fans of a Madrid club", who were previously flagged during matches as "high risk" to help curb violence during games.
The finance minister clarified that indexation benefits offered until April 1, 2001 would be protected. This means older properties, including legacy assets, would benefit.
The former bureaucrat said he will take measures which the economy requires in a timely manner and as the first step, will meet the heads of public sector banks.
'As we enter 2025, it must be acknowledged that there is a convergence of capital, influential people (from business and politics) and technology deciding the destiny of others in the name of pride, patriotism, nationalism, nation building, all of it thinly veiled disguises for personal profit and glory,' asserts Shyam G Menon.
RBI retained the GDP growth for the financial year 2018-19 at 7.4 per cent.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Rate cuts are unlikely to be aggressive, in our view.
The ongoing conflict between Ukraine and Russia is unlikely to have any major impact on the Indian rupee and the forex volatility in the country (USD/INR) has been much less now as compared to the global financial crisis which took place in 2008, SBI said in its Ecowrap research report. The report said that though the conflict between the two CIS nations may drag on for now, it is expected that the USD/INR, the most tracked pair in the local forex market, will trade at an elevated zone. But ideally, the expected average range of the rupee is expected to be in the band Between Rs 76 to Rs 78 to the USD with an appreciated bias.
The Reserve Bank of India on Thursday decided to keep policy rate unchanged for third time in a row as it maintains heightened vigil on inflation. The rate increase cycle was paused in April after six consecutive rate hikes aggregating to 250 basis points since May 2022.
"Public does not who 'Kharge Pharge' is. Even I don't know he was the president of Congress. Nobody knows him. Masses don't know him. The public knows Nitish Kumar. Nitish Kumar should become prime minister. He is popular all over India," Mandal said.
Stepping up its attack on Prime Minister Narendra Modi over his 'redistribution of wealth' remark, the Congress on Tuesday said he will never tell people that more than 40 per cent of the wealth created in the country from 2012 to 2021 has gone to just one per cent of the population, and asserted that only an Indian National Developmental Inclusive Alliance (INDIA) government can deliver a vastly more inclusive economic growth.aax
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The central bank will come out with two measures on restructuring to tackle financial stress, Rajan said.
BofA Securities has revised its year-end Nifty target from its earlier projection of 16,000 to 14,500 now - down over 6 per cent from the current levels. Fast tightening monetary conditions, slowing growth/fears of US recession and the likely Nifty EPS (earnings per share) cuts, BofA Securities said, are the key headwinds for the markets in the near-term. However, clarity on macro and monetary policy outlook in the US/India, it said, is the silver lining that could see markets bottom out by August/September 2022.
During the month, inflation in vegetables shot up to 35.99 per cent, as against 26.10 per cent in October. Likewise, the prices of cereals and eggs grew at a faster pace of 3.71 per cent.
Debashis Chatterjee speaks about the overall demand environment and company's strategy
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Food and fuel inflation in India have remained high for several years, the paper said, adding to durably reduce the current high inflation, the monetary policy stance needs to remain tight for a considerable length of time.
Only investors with a higher risk appetite should enter these funds.
Currently, the retail inflation is well below the RBI's comfort level. The government has asked the central bank to keep inflation in the range of 4 per cent.
RBI Governor Raghuram Rajan has been pursuing hawkish monetary policy stance to keep inflation under check.
Domestic exporters on Monday expressed concerns over the crisis in Bangladesh and said the developments in the neighbouring country would have implications on bilateral trade. However, exporters expect that the situation may normalise soon. According to exporters, they are already facing disruptions in exports to Bangladesh due to a shortage of foreign exchange in that country.
'Our target will come from rural areas as there are more outlets there.'
Even as Prime Minister Dr Manmohan Singh is eyeing a decline in inflation to 5-6 per cent by the year end, Planning Commission member Dr Narendra Jadhav said only a good monsoon and augmentation of agriculture production could help achieve the target.
If the concerns over risking political capital are overcome, the long-term gains for the Indian economy will be immense, asserts A K Bhattacharya.
The respective Dussehra rallies of Maharashtra Chief Minister Eknath Shinde and and Shiv Sena-Uddhav Balasaheb Thackeray chief Uddhav Thackeray were once again about whose version of Hindutva is genuine and who is the true inheritor of party patriarch Bala Thackeray's legacy.
