'There were two options before the government -- create a complex, cumbersome law, which will cause a tremendous amount of compliance challenges for startups or say let's go back and do a clean slate, where we do a framework of laws and policies'
The surge in wheat export from India owing to the Ukraine crisis has once again demonstrated how farmers in states that have flexible marketing frameworks and low taxes benefit more from an emerging situation. The bulk of the wheat exported from India, trade and industry sources say, is being sourced at rates significantly higher than the state-mandated price of Rs 2,015 per quintal in Madhya Pradesh (MP), Uttar Pradesh (UP), and Gujarat - states which have low mandi taxes compared to Punjab and Haryana. This is not only benefiting farmers there but could also lead to significant savings for the states in procurement costs in the months to come.
The country's largest private sector lender HDFC Bank on Saturday reported a 23 per cent jump in standalone net profit to Rs 10,055.20 crore for the March quarter, led by growth in loan demand across categories and lower provisioning as bad loans were trimmed. The bank's net profit during the corresponding period of the previous fiscal stood at Rs 8,186.51 crore. "After providing Rs 2,989.5 crore for taxation, the bank earned a net profit of Rs 10,055.20 crore, an increase of 22.8 per cent over the quarter ended March 31, 2021," HDFC Bank said in a regulatory filing.
'They have helped stabilise our market by acting as a counterbalance to foreign funds.'
With domestic retail fuel prices jumping to record high on rising international oil rates, India on Thursday pressed oil cartel OPEC for 'affordable' oil price within a 'reasonable band' and that the producers should phase out production cuts. OPEC nations such as Saudi Arabia have traditionally been India's principal oil source. But, OPEC and its allies, called OPEC+, ignoring its call for ease supply curbs had led to the world's third-biggest oil importer tap newer sources to diversify its crude oil imports. As a result, OPEC's share in India's oil imports has dropped to about 60 per cent in May from 74 per cent in the previous month.
Netflix is reminiscent of Star TV in the 1990s: Very Western in its gaze, very expensive, and clueless, notes Vanita Kohli-Khandekar.
Bharti Airtel chairman Sunil Mittal on Wednesday said the regulatory regime needs to be simple to avoid fresh litigations in the telecom sector, asserting that collaboration among competing players, lower duties and reduction in spectrum pricing will help unleash the full potential of the industry. The telecom czar noted that the "temperature" of the industry needs to be lowered when it comes to litigations and appealed to the government to look into the matter. The timely reforms that were announced brought in cheer and heightened comfort for all the active players in the sector, Mittal said and urged the industry counterparts to focus on building the next wave of connectivity in the run-up to 5G and beyond.
HUL's focus on strengthening the core, leading market development & premiumisation, driving channel transformation and building brands with purpose, continues to serve it well: CMD Sanjiv Mehta.
FMCG major Hindustan Unilever Ltd on Thursday reported a 10.7 per cent increase in its consolidated net profit at Rs 2,100 crore for the first quarter ended June, 2021 led by a volume-based growth despite challenging circumstances due to the second wave of the pandemic. The company had posted a net profit of Rs 1,897 crore in the April-June quarter of the previous fiscal. Net sales during the quarter under review stood at Rs 11,996 crore, up 13.49 per cent, as against Rs 10,570 crore in the corresponding period a year ago, Hindustan Unilever Ltd (HUL) said in a regulatory filing.
Adani Enterprises, the flagship company of the Adani group, on Monday said it had entered into a 50:50 joint venture (JV) with EdgeConnex, a leading global data centre operator, to develop and operate data centres across India. The idea behind the JV, AdaniConneX, was to leverage the two partners' complementary expertise and capabilities, it said. In addition to full-scale data centres, AdaniConneX will also develop a portfolio of Edge data centres strategically located across the country to address the need for more proximate capacity.
With automation taking place at a much faster pace across industries especially in the tech space, domestic software firms that employee over 16 million are set to slash headcounts by a massive 3 million by 2022, which will help them save a whopping $100 billion mostly in salaries annually, says a report. The domestic IT sector employs around 16 million, of them around 9 million are employed in low-skilled services and BPO roles, according to Nasscom. Of these 9 million low-skilled services and BPO roles, 30 per cent or around 3 million will be lost by 2022, principally driven by the impact of robot process automation or RPA. Roughly 0.7 million roles are expected to be replaced by RPA alone and the rest due to other technological upgrades and upskilling by the domestic IT players, while it the RPA will have the worst impact in the US with a loss of almost 1 million jobs, according to a Bank of America report on Wednesday.
Among other measures, for stocks in F&O segment meeting certain criteria, Market Wide Position Limit might be revised to 50 per cent of the existing levels.
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".
The dilemma is that if farming is to be efficient, farmers will be worse off -- and if farmers are to be better off farming will be worse off, reveals T C A Srinivasa-Raghavan.
Mumbai's property markets, where prices earlier crossed Rs 1 lakh per sq. ft in South Mumbai, are seeing a 20-25 per cent markdown from last year's levels.
Other Health Food Drinks brands of GSK -- Boost, Maltova and Viva -- would come to HUL's portfolio by virtue of the merger, making it a leading player in the segment.
About 18 months after its entry in India, a Spotify listener spent an average of 97 minutes on the app, almost ten times more than any other streaming music brand.
'Curbs will again lead to the grey market developing, undoing all the work done over the last two-and-a-half years.'
Toyota's India unit will also source two cars manufactured by Maruti Suzuki, the Baleno and Brezza, including their hybrid variants, and in return Toyota will offer its Corolla sedan to Maruti.
On October 25, the government issued an ordinance on the denotification. Earlier, in July 2016, it had denotified fruits and vegetables, thereby allowing farmers to sell these to buyers within or outside APMC yards, as they chose
A lack of adequate disclosures raises the financing costs of corporate firms, especially sub-investment grade ones, and keeps the capital markets small, believes RBI deputy governor Viral Acharya.
These measures are part of initiatives by these nations to attract Indian tourists, says Aneesh Phadnis.
The competition was designed to encourage PMDs to develop innovative marketing technology that effectively leverages Facebook's news feed. San Francisco based Ampush, won the competition for its Project YOGA (Your Open Graph Applications).
Sales during the quarter under review stood at Rs 9,357 crore, up 12.42 per cent, as against Rs 8,323 crore in the corresponding period of the last fiscal
The Korean major, as part of its rural push, has begun an "attack district" project with focus on 80 key districts to increase sales of its TVs, refrigerators and washing machines
'Tax cuts will have only marginal effects in the short run and significant positive effects in the medium term,' says Shankar Acharya, former chief economic adviser to the Government of India.
He did not see any difficulty in recovery as most of the good companies were growing at 10-12 per cent.
Cricket will be part of the 2024 Olympics if Rome wins the bid to host the mega event, Italian cricket board chief Simone Gambino has said.
The slowdown in demand from the US and Europe has not impacted the diamond trade in Surat, Asia's largest diamond polishing hub, thanks to the diversified export market. This was not the case till recently.
Investors can earn risk-free income of 6% to 8% annually by lending stocks.
Various global and domestic factors had a sizable impact on the performance of the Indian markets
European aerospace major EADS is on the verge of bringing into markets its new A400M Grizzly to compete in Indian military proposals for inducting giant airlifters to boost its strategic reach.
On the list of 137 economies, Switzerland is followed by the US and Singapore in second and third places, respectively.
Firm regains volume growth via focus on market share, market development, margins and consumers' mood
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The development comes after the National Democratic Alliance government this year broke a 92-year-old tradition of presenting a separate Railway Budget, according to suggestions made by the Debroy committee.
With the stock markets falling, four initial public offers (IPOs) that opened this week are facing rough times and finding it difficult to get investors.
Italian automobile giant Fiat is exploring options to manufacture light commercial vehicles with a load carrying capacity between 0.8 tonnes and 1.8 tonnes in India.
'We are all in a tizzy about NBFCs in the aftermath of the IL&FS default.' 'We tend to jump to the notion that an NBFC is like a bank. But banks make a promise that deposits are liquid and have an assured return.' 'NBFCs make no such promises,' points out Ajay Shah.
Sanjay Kumar Singh speaks to experts to find out if Tata Housings new loan offer should interest you.
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