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.
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.
Karnataka proposes to auction 15 of its Category-C mines to end-users.
IIP down due to poor show by manufacturing, mining and power sectors
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.
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.
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.
Kamal Haasan is the new addition to the action thriller film Project K, which also features Prabhas, Deepika Padukone, Disha Patani and Amitabh Bachchan.
The government has relaxed FDI norms in industries such as civil aviation, petroleum and natural gas and commodity exchanges.
'Inter-ministerial coordination, information on the proposed PSUs, and due diligence are taking longer than expected to conclude the process.'
Among the main industry segments, manufacturing activity declined to 5.9 per cent from 10.6 per cent a year ago.
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.
This is a good opportunity for long-term investors to pick quality small and midcap stocks at reasonable valuations.
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).
Adani group will demerge all ports, power assets into two 2 listed firms.
'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.'
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.
Given that the ETF has given exceptional returns over the past year, start small and buy more in a staggered manner.
The November IIP has been revised upwards to 3.9% from 3.8%.
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.
Russian firms expand their footprint in India. And take bigger steps to do business with India's private sector.
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.
Most rating agencies had projected contraction in India's GDP for the first quarter of 2020-21.
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.
Insurance sector to get lot of foreign investment: Jaitley.
Bad loans, however, continued to rise in the micro, small and medium enterprises category
'There is a need for a national task force with a singular objective to increase automotive exports.'
For Swarup, the job would not be just challenging but also tricky, given the negativity attached to the 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.
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 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.
Mining magnate Anil Agarwal's conglomerate on Friday announced a major business shake-up, with flagship Vedanta Ltd approving a spin-off of its metals, power, aluminium and oil and gas businesses into separate listed entities and an overhaul of lucrative zinc unit planned as part of value creation and reducing debt load. Vedanta will issue one share of the five demerged businesses for every share held in the company, the firm said in a statement. The entire exercise, which would require shareholder and lender approval as well as a nod from the stock exchanges and courts, is expected to be completed in 12-15 months, its president for finance Ajay Agarwal said.
India's industrial production rose 19.6 per cent in May 2022, according to the official data released on Tuesday. As per the Index of Industrial Production (IIP) data by the National Statistical Office (NSO), the manufacturing sector's output grew 20.6 per cent in May 2022. In May 2022, the mining output climbed 10.9 per cent, and power generation increased 23.5 per cent.
Talking to PTI Amarjeet Kaur, General Secretary of All India Trade Union Congress (AITUC), said, "The two-day nationwide strike by the joint forum of central trade unions has begun this morning". About the impact of the agitation, she said that the entire coal belt (mining area) is affected in Jharkhand, Chhattisgarh and Madhya Pradesh. She also said that there is a good response in industrial areas of Assam, Haryana, Delhi, West Bengal, Telangana, Kerala, Tamil Nadu, Karnataka, Bihar, Punjab, Rajasthan, Goa, Andhra Pradesh and Odisha. The AITUC official noted that the banks and insurance sectors are affected all over India, while steel and oil sectors are also seeing partial impact due to the strike. Kaur said that she has got preliminary reports that markets are closed in Odisha.
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.
Retail inflation inches up to 3.77%; IIP growth dips to 3-month low
India's industrial output grew a better-than-expected 6.4 per cent in August compared with a downwardly revised 4.1 per cent growth a month ago.
Odisha's Health Minister Naba Kishore Das, a confidant of the chief minister, was shot and grievously injured when he got out of his car on Sunday, allegedly by a police officer who was captured, officials said.
