Financial services and consumer durable companies accounted for most of the selling by foreign portfolio investors (FPI) in the last fortnight of February. FPIs sold finance stocks worth Rs 2,263 crore and consumer durable stocks worth Rs 1,111 crore, according to data collated by Prime Infobase. Information technology (selling worth Rs 708 crore), metals and mining (Rs 694 crore), and power (Rs 497 crore) were the other sectors where overseas funds sold shares.
'Yet the market didn't do all that badly because it was cushioned by domestic inflows.'
Modi held a "productive meeting" with his Ethiopian counterpart Abiy Ahmed Ali on a day when BRICS (Brazil, Russia, India, China and South Africa) leaders officially endorsed Ethiopia's entry into the bloc.
At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.
Brokerages expect Nifty50 companies to have cumulatively witnessed strong double-digit growth in their earnings in the first quarter of FY24 (Q1FY24). This growth in the combined earnings is expected to have been driven by banks, automakers, and oil & gas companies. Other sectors may report muted profit growth.
The PM-elect wants to fix the coal sector; cut coal imports by boosting output.
Hindalco Industries won Dumri mine in Jharkhand
In an urgent need for its image makeover, the scam-tainted coal sector will require mammoth efforts in 2015 from the government and the corporates too.
The governor made it clear that the RBI is aware of what's happening and acts accordingly, but doesn't make a noise about that, points out Tamal Bandyopadhyay.
Corporate India reported high double-digit growth in net profit for the fourth consecutive quarter in October-December 2023 (Q3FY24), driven by margin gains from lower prices of raw material and energy.
The first economic readings to be published in 2015 will be out on Monday, when the government releases industrial output data for November and the consumer price index for December.
Union Labour Ministry has announced pension scheme for unorganised labour hands like mine and cine workers.
Foreign Portfolio Investors (FPIs) have pulled out over Rs 10,000 crore from Indian equities in the first three weeks of September, primarily due to rising US interest rates, recessionary fears, and overvalued domestic stocks. Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period. Mayank Mehra, smallcase, manager and principal partner at Craving Alpha,believes that strong economic growth prospects, attractive valuations, and government reforms could support foreign investment flows in the next month.
Prime Minister Narendra Modi and Home Minister Amit attended the swearing in ceremony as did BJP president J P Nadda.
Coal Minister Sriprakash Jaiswal is credited with fast-tracking many issues that are caught in red-tape. The minister says the environment ministry's controversial policy barring mining in forest areas has left him troubled.
India's industrial production growth declined to a three-month low of 3.7 per cent in June mainly due to poor showing by the manufacturing sector, according to the official data released on Friday. The factory output growth measured in terms of the Index of Industrial Production (IIP) stood at 12.6 per cent in June 2022 on account of a lower base effect. The previous low of IIP was at 1.9 per cent in March 2023.
A heavy forest fire which has erupted several kilometers along the Indo-Pak border has triggered mine explosions in the area and damaged some communication lines in Poonch district of Jammu and Kashmir.
The central government is expected to complete the auction of the 5.9-million tonne (mt) lithium reserves discovered in the Reasi district of the northern Union Territory (UT) of Jammu & Kashmir (J&K) by the end of this calendar year, Union Mines Secretary Vivek Bharadwaj said on the sidelines of the launch of the Federation of Indian Chambers of Commerce and Industry (Ficci) report on 'New-Age Energy Minerals' on Tuesday. "Auction will be over by the end of this year," said Bharadwaj, adding, "We have already recommended a transaction advisor to the J&K government for the auction of lithium reserves." However, the exact timeline for an auction will be decided by J&K authorities, Union mines minister Pralhad Joshi said in Parliament last month.
Interview with chairman, Vedanta.
The recent data dims hope of recovery in manufacturing.
While overall employment rose from 456 mn to 463 mn between FY11 and FY15, with farm employment falling by 26 mn over the same period, the net addition to employment over the entire four year period was a mere 7 mn.
Seeking to tap opportunities in Indian rail and mining sectors, UK-based infrastructure company Laing O'Rourke, which has a tie-up with domestic realty major DLF, has acquired Barclay Mowlem
'We will see a lot of investments from the private sector.' 'As long as we are not impacted by some global events, I think we will be in a strong place.'
The government has already said it is keen on starting ore mining and exports.
Putting an end to the fierce scramble for India's iron ore resources, the government has decided to split the Chiria iron ore mines in Jharkhand into two and give at least half the reserves to Steel Authority of India Ltd for its expansion plans. The other half will be kept for development by the private sector later, said informed sources.
Future Gaming and Hotel Services whose director is the lottery magnate Santiago Martin is the top purchaser of electoral bonds having purchased bonds worth Rs 1,368, according to data uploaded by the Election Commission of India on its website on Thursday.
India's industrial output contracted by 0.6 per cent in December, 2012 compared to a growth of 2.7 per cent in same month a year ago.
For the entire 2015-16 fiscal, the factory output grew at 2.4 per cent, down from 2.8 per cent in the previous fiscal.
There's a straightforward relationship between economic activity and power consumption. If economic activity increases, so does power consumption. Since the latest GDP (gross domestic product) data indicates India's growth rates exceeded expectations in the second half if the 2022-23 financial year (H2FY23) and GDP estimates of FY24 are strong, we would expect power consumption to rise as indeed it has. There is also a direct relationship between power consumption and National Thermal Power Corporation or NTPC's results since the public sector undertaking (PSU) is the largest power generator in India.
Analysts polled by Reuters had expected output to grow 0.7 per cent annually.
'This is a crisis which did not happen overnight. It was happening slowly.' 'Now we are mining very fast and this crisis won't last long.'
Ironically, rival Tamil Nadu governments expend the most on social welfare schemes, especially targeting women and youth and children, but that money comes only by selling more liquor. There is always the specious plea, which has been peddled very many times in the past, that without licensed liquor, drinkers would go after hooch and there could be more hooch tragedies and hooch deaths. No one is convinced, but no one can dispute it either, comments N Sathiya Moorthy.
The Central Vigilance Commission has come out with a stunning report on the "public-private partnership" model of the nexus between corporates, politicians and bureaucrats to perpetrate large-scale corruption.
'The day I took charge, the PM told me you do the following -- stop imports, talk to all stakeholders and involve them to make mining more industry-friendly without affecting the environment.'
Shinde welcomed the former Rajasthan minister to the Shiv Sena and said Gudha left the ministerial position for the cause of people.
Believes India can grow at 6 - 7 per cent next fiscal.
The mass cancellation of coal blocks by the Supreme Court has sent banks in a jittery mode as they have extended over Rs 1 lakh crore loans to power plants that were fed by these mines.
A sluggish manufacturing sector pulled down the economic growth to 8.9 per cent during the July-September quarter from 10.2 per cent.
While the corporate sector has benefited from massive capital expenditure, leading to sky-rocketing stock prices, investors would do well to keep an eye on the macroeconomic picture and government finances, not just corporate profits, for signs of trouble, alerts Debashis Basu.
