The slowdown in corporate revenue growth over the last one year has begun to reflect in India Inc's capital expenditure, or capex. The country's top listed companies are going slow on fresh investment in capacity expansion, in line with a deceleration in their top line growth. The combined fixed assets of the listed companies, excluding banking, finance services and insurance (BFSI) and the government-owned oil & gas firms, were up 10.1 per cent year-on-year (Y-o-Y) during April-September 2023 (H1FY24) - the slowest in 18 months - as against 21.1 per cent Y-o-Y growth in H2FY23 (October 2022-March 2023) and 11.6 per cent growth in the April-September 2022 period (H1FY23).
After four years of high double-digit growth in profits, corporate earnings of Indian companies hit a speed bump in the April-June quarter of 2024 (Q1FY25), leading to the risk of a downward revision in India Inc profit estimates for FY25 and volatility in the equity market. Earnings growth slowed despite companies in most non-financial sectors reporting higher operating margins from lower commodity prices and a decline in interest costs.
Tata Motors was the biggest gainer in the Sensex pack, rallying 2.94 per cent. It was followed by Vedanta, Bajaj Finance, Sun Pharma, ONGC, ICICI Bank, Bajaj Auto, Tata Steel, RIL, HDFC duo, L&T and SBI, rising up to 2.78 per cent.
India on Monday announced the results for the country's first critical mineral auction. Amid the tepid response from big players, the list of successful bidders included some lesser known names. A total of five companies secured bids for six critical mineral blocks of graphite, manganese, phosphorite, lithium, and rare earth elements with auction premiums ranging from 13.05 per cent to 400 per cent.
'If private capex has to kick in, there should at least be 2-3 years of visibility.'
From the Sensex basket, Tech Mahindra, Tata Steel, JSW Steel, HCL Technologies, Tata Consultancy Services, Larsen & Toubro and Kotak Mahindra Bank were the biggest laggards. Mahindra & Mahindra, Power Grid, Bajaj Finance, IndusInd Bank and Maruti were the major gainers.
'If Covid peaks at around 250,000 cases, I don't see the market fall much. If it becomes uncontrollable and goes up to 600,000 a day, then the market may fall.'
Several firms are stepping up to help their workforce cope with soaring temperatures
Key benchmark indices closed for the day marginally higher amidst volatile trades with the Sensex closing up 37 points at 17,463 and the Nifty added 15 points to end the day at 5,302. The ones leading the gains were banks and metal scrips.
The Jawa 42 FJ 350 cc was launched at a surprising price of 199,142 ex-showroom Delhi, reports a nostalgic Rajesh Karkera/Rediff.com.
Mining conglomerate Vedanta Limited has received approvals from the majority of its creditors for a proposed demerger of businesses, marking an important step in the company's plan to split into six independent listed companies. "I am happy to let all of you know that we have received the 52 per cent plus the additional percentage, which is required for us to reach 75 per cent. "We have crossed that threshold as well. Most of the lenders have approved it," a senior Vedanta executive said in a recent bondholder conference call.
India's merchandise exports in April 2024 marginally rose to $34.99 billion from $34.62 billion in the year-ago month, according to government data released on Wednesday. Imports too increased to $54.09 billion from $49.06 billion in April 2023.
Apart from being the most successful cases under the IBC, Bhushan Steel and Essar Steel are among the best steel assets in the country. They also ended up helping their lenders get back a significant chunk of the money while allowing Tata Steel to consolidate its position and giving the world's two largest steel makers - ArcelorMittal and Nippon Steel - a strong foothold in India. A significant contrast was the pace at which these two cases were resolved under the bankruptcy code. In the annals of the Insolvency and Bankruptcy Code (IBC), Essar Steel may go down in history as the most noticeable resolution with the world's largest steelmaker, ArcelorMittal, and the incumbent, Ruia family, locked in an intense battle spanning more than two years and ultimately resulting in full recovery of the principal amount for the financial creditors.
The finance ministry has directed all state-owned banks to review their gold loan portfolio as instances of non-compliance with regulatory norms have been noticed by the government. The Department of Financial Services (DFS) in a communication addressed to heads of public sector banks has asked them to look at their system and processes related to gold loan. "We have asked banks to undertake comprehensive review of the gold loan business," financial services secretary Vivek Joshi told PTI.
TVS Motor Company met expectations in terms of revenue and posted a strong margin performance in Q1FY25. The key drivers were material cost savings and a better mix. The domestic demand outlook looks good with a rural rebound but geopolitical uncertainties in key export markets may dent overall growth.
This is the highest closing for both the indices since May 15.
'Is the Agniveer scheme or their post-retirement re-employment in paramilitary forces or in the state governments the BJP's answer to the crying need on the job front?' 'Or, even Finance Minister Sitharaman's one-year internship scheme in the public and private sector, is it a permanent solution, either?', asks N Sathiya Moorthy.
Recent recovery in the white metal was reflected in a falling gold to silver price ratio.
Stocks in the automotive, financial, cement, metal, and hotel sectors are likely to benefit if the Narendra Modi-led Bharatiya Janata Party (BJP) comes back to power for a third time. The key investment themes have been identified after analysing the Sankalp Patra - the party's manifesto for the next five years - released on Sunday.
From the Sensex pack, NTPC, Tata Motors, Titan, Larsen & Toubro, Reliance Industries, IndusInd Bank, Infosys, HDFC Bank and Power Grid were among the major gainers. Wipro and Tech Mahindra were the laggards.
Key infrastructure sectors -- from railways to power, and from coal to petroleum -- will not only be part of the achievements but promises too, as the BJP fights to get a third term at the Centre.
While near-term performance is difficult to predict after a huge run-up, fund managers believe the PSU theme's prospects remain sound over the medium to long term.
Equity benchmark index Sensex on Wednesday crashed over 900 points to sink below the 73,000 level due to widespread selling pressure amid a sharp fall in smallcap and midcap indices. Besides, deep losses in utility, energy and metal stocks and recent selling by foreign investors added to the gloom, analysts said. Benchmark indices started the session on a positive note, but the selling intensified during afternoon trade, with all sectoral indices ending in the red.
Sensex ended at 26,272 up 125 points and Nifty ended at 7,831 up by 35 points.
Extending losses for 7th session, Nifty fell below the 8,000 mark for the first time since Nov 25
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
Indian stock markets are expected to be driven mostly by global factors this week amid a lack of local triggers and earnings season largely coming to an end, say analysts. Crude oil prices, rupee movement and US Federal Reserve meeting minutes to be released this week will also influence the market sentiment. "With the earnings season behind us, global cues would largely dictate the trend in the coming week," Ajit Mishra, SVP - technical research, Religare Broking Ltd, said.
The brokerage earnings estimate for the January-March 2024 quarter (Q4FY24) for Nifty 50 companies hints at a slowdown in corporate profit growth while revenue increase is likely to be in low single digits as in the previous two quarters. According to various brokerage estimates, the companies' combined net profits are expected to grow 3.1 per cent year-on-year (Y-o-Y) in Q4FY24, the slowest in the last five quarters. For comparison, the index companies' combined net profits were up 8.2 per cent Y-o-Y in Q3FY24 and 3.4 per cent Y-o-Y in Q4FY23.
Yes Bank was the top loser in the Sensex pack, crashing 8.36 per cent, followed by NTPC, M&M, Vedanta, Sun Pharma and TCS, which lost up to 4.81 per cent lower.
With the setting up of doorframe metal detectors, CCTV cameras, drones and deployment of armed commandoes, a banquet in Delhi has turned into a fortress of sorts for the marriage of gangster Sandeep alias Kala Jathedi with 'history-sheeter' Anuradha Choudhary alias 'Madam Minz' on March 12, official sources said on Monday.
India's manufacturing sector activity strengthened in December, with manufacturers stepping up production and input buying amid efforts to rebuild their inventories following business closures earlier in the year, a monthly survey said on Monday. The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) was at 56.4 in December, a tick higher than November's reading of 56.3 and above the critical 50 threshold for the fifth straight month. In PMI parlance, a print above 50 means expansion, while a score below that denotes contraction.
Are faulty design, hurried construction and private ownership to be blamed for the incidents of airport roofs crashing?
Information technology (IT) companies have been on the road to revival in the past one year. From being the worst-hit sector in 2022 with a loss of 26 per cent, the Nifty IT index closed 2023 with gains of 24 per cent. So far in 2024, the index is up around 7 per cent against the nearly flat Nifty 50 benchmark index. The IT index has been on a continuous decline in the last three sessions.
Despite high headline numbers, the output of one-third of the segments in the manufacturing sector in August stood below even that in the same month in 2011-12, when the new index of industrial production (IIP) series started. This is despite the fact that manufacturing grew 9.3 per cent in the month, driving up IIP growth to a 14-month high of 10.3 per cent. Part of it is due to the devastation of these product categories by lockdowns induced by Covid waves and subdued export conditions, while part of it needs to be assessed further.
Shares of public sector enterprises have corrected by up to 22 per cent month-to-date until March 19, 2024. Analysts attribute this steep fall to the valuation exuberance seen after a sharp run in these counters last year and suggest investors remain selective regarding the stocks in this space. "The rally in public sector undertaking (PSU) stocks has been stretched and sharp, although it is somewhat justified by improvements seen in earnings, operations, balance sheets, and overall profitability.
The 50-share NSE Nifty stayed in the positive zone and retook the 9,900-mark to hit a high of 9,905.05 as buying paced up towards the fag end. It settled higher by 72.45 points, or 0.74 per cent, at 9,899.60.
However, IT stocks fell on weak growth forecast by Gartner
'Our factories are world-class and are becoming increasingly attractive for our global business leaders to use to serve other markets.'
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances