Belying fears of a slowdown, industrial growth accelerated to 13.8 per cent in July from 7.2 per cent in the corresponding month last year, on the back of a 63 per cent jump in capital goods production.
Titan, IndusInd Bank, Axis Bank, State Bank of India, Power Grid, NTPC and Tata Motors were among the among the major gainers. Mahindra & Mahindra, Larsen & Toubro, Nestle, JSW Steel, Infosys and Tata Consultancy Services, Tech Mahindra and Maruti were the major laggards.
India's industry sector grew by 6.7 per cent in July 2005 compared to 8.5 per cent in the same month a year ago.
Corporate India is more dependent than before on exporters of IT services such as Tata Consultancy Services (TCS), Infosys, and Wipro for earning foreign exchange. Such companies account for nearly 43 per cent of the forex revenues of listed firms, up from 22 per cent a decade ago. The listed IT services companies earned nearly Rs 4.2 trillion through exports in FY22, up 15 per cent from the Rs 3.65 trillion a year earlier. In comparison, the forex revenues or exports of the rest of the BSE500 companies were down 11.9 per cent to Rs 5.6 trillion last financial year.
Karnataka proposes to auction 15 of its Category-C mines to end-users.
Enthused by higher than expected GDP numbers in the fourth quarter of 2022-23, Chief Economic Adviser (CEA) V Anantha Nageswaran on Wednesday said India's economic growth may exceed the initial estimate of 6.5 per cent in the current fiscal and the country can look for another year of solid economic performance.
IIP down due to poor show by manufacturing, mining and power sectors
Richest Indian Gautam Adani-led group's flagship firm on Wednesday filed an offer letter with stock exchanges for a proposed Rs 20,000 crore follow-on public offer (FPO). The FPO of Adani Enterprises Ltd (AEL) is planned to open on January 27 and close on January 31, according to the offer letter. Of the Rs 20,000 crore proceeds of the FPO, Rs 10,869 crore will be used for green hydrogen projects, work at the existing airports and construction of a greenfield expressway.
The 64 people missing after a massive landslide in northwest China's Shaanxi Province were presumed dead on Sunday, after rescuers failed to detect life at the site four days after they were buried under about 1 million cubic metres of mud.
Coal workers across the country have resumed work after a two-day strike and promised to make up for an estimated 1 million tonne production loss, as the government assured that state-run behemoth Coal India will not be privatised and employees' interests would be paramount.
The government has relaxed FDI norms in industries such as civil aviation, petroleum and natural gas and commodity exchanges.
Among the main industry segments, manufacturing activity declined to 5.9 per cent from 10.6 per cent a year ago.
Retail inflation remained above the RBI's comfort level for the second consecutive month despite slipping slightly to 6.26 per cent in June while the factory output recorded a growth of 29.3 per cent in May, mainly on account of the base effect, the government data showed. The marginal slippage in the Consumer Price Index (CPI)-based inflation was noticed despite little firmness witnessed in the food inflation which inched up to 5.15 per cent in June from 5.01 per cent a month ago. Retail inflation based on Consumer Price Index (CPI) was 6.3 per cent in May 2021 and 6.23 per cent in June 2020.
The Lok Sabha contest in Thiruvananthapuram is shaping up to be a significant battle involving key candidates like Shashi Tharoor, Rajeev Chandrasekhar, and Panniyan Ravindran. This three-cornered fight highlights the political dynamics in Kerala's capital city, with each candidate bringing their own vision and promises for the region's development, notes Rajeev Srinivasan.
Adani group will demerge all ports, power assets into two 2 listed firms.
The recent surge in crude oil prices could shave off the gains made by India Inc in profit margins in the past few quarters. Worse, it comes at a time when consumer demand in the country is slipping and major global economies are witnessing a slowdown. A back-of-the-envelope calculation suggests that the margin expansion accounted for three-fourths of the rise in the listed firms' operating profit between the April-June quarter (Q1) of FY23 and Q1FY24, and only a quarter of profits gains came from revenue growth.
The manufacturing sector recorded the double-digit growth rate at 10.4 per cent during August, although down from 11.9 per cent a year ago, the mining sector growth rate improved significantly to 17.1 per cent against a decline of 1.7 per cent in the corresponding month last year.Electricity generation during August grew by 9.2 per cent as compared to 4.1 per cent a year ago.
Kamal Haasan is the new addition to the action thriller film Project K, which also features Prabhas, Deepika Padukone, Disha Patani and Amitabh Bachchan.
Given that the ETF has given exceptional returns over the past year, start small and buy more in a staggered manner.
The next auction for bauxite blocks in Odisha may see heightened interest with Adani Group charting an entry into alumina refining and existing players looking to boost capacity. Hemant Sharma, principal secretary, Odisha industries department, said that three bauxite blocks have been scheduled for auctions this year. Adani Group - which will be setting up a 4-MMTPA alumina refinery and may enter aluminium production - is expected to bid for mines, though raw material linkages shall be available from Odisha Mining Corporation (OMC).
The November IIP has been revised upwards to 3.9% from 3.8%.
According to the report by Swiss firm IQAir released on Tuesday, India's annual average PM2.5 level in 2022 was 53.3 g/m3, slightly lower than the 2021 average of 58.1.
'Inter-ministerial coordination, information on the proposed PSUs, and due diligence are taking longer than expected to conclude the process.'
Russian firms expand their footprint in India. And take bigger steps to do business with India's private sector.
The government has only taken a pause and more measures will be announced in the days to come to help sectors hit by the coronavirus outbreak and also to make India 'Atmanirbhar Bharat', Minister of State for Finance Anurag Thakur said. Since the outbreak of the pandemic, the government has taken several steps to mitigate the hardships of the people due to lockdown and support growth, Thakur told PTI in an interview.
GVA growth in the manufacturing, farm and construction sectors tumbled.
Any delay in passing the coal bill may cause a crisis in the coal sector which would also affect the power sector.
Insurance sector to get lot of foreign investment: Jaitley.
This is a good opportunity for long-term investors to pick quality small and midcap stocks at reasonable valuations.
Most rating agencies had projected contraction in India's GDP for the first quarter of 2020-21.
Bad loans, however, continued to rise in the micro, small and medium enterprises category
For Swarup, the job would not be just challenging but also tricky, given the negativity attached to the sector.
The Index of Industrial Production (IIP) grew by 1.4 per cent in November as most components like manufacturing, electricity, mining, primary goods, and consumer durables witnessed a slowdown, according to data released by the National Statistical Office (NSO) on Wednesday. This is on the base of a decline of 1.7 per cent in November 2020 and before the new Covid variant started impacting economic activity. IIP growth was lower than the 4 per cent expansion recorded in the previous month but was better than a 1.6 per cent contraction seen in November 2020. Separately, rising prices of kitchen staples pushed retail inflation, or rate of price increase, to 5.59 per cent in December 2021, bringing it close to the upper band of Reserve Bank's comfort zone.
'Not even a single rupee from the electoral bonds should be allowed to be used in the election.' 'If it is used in the election, it will taint India's electoral process itself.'
UK-based Mittal Steel on Wednesday said it was undertaking a technical visit to Jharkhand for studying the potential of investment in the metal and mining sector.
The Reserve Bank of India, which mainly factors in retail inflation to decide its monetary policy, has been tasked by the government to ensure the rate of price rise remains around 4 per cent.
On a cumulative basis, the Index of Industrial Production (IIP) for the first quarter this fiscal grew by 10.3 per cent as compared to 7.7 per cent in the year-ago period, according to the official figures released on Friday.
The rupee breached the 80-mark against the dollar on Tuesday. The steady depreciation in the value of the rupee against the US dollar is likely to prove expensive for corporate India. The listed companies' revenue expenses in foreign currency or imports exceed their export revenues or revenue earnings in forex. In their latest financial year, BSE500 companies, excluding banks and non-banking finance companies and insurance (BFSI), reported combined forex expenses of Rs 12.31 trillion against forex earnings of around Rs 10 trillion.
Retail inflation inches up to 3.77%; IIP growth dips to 3-month low
