Cheering the rebound in India's economy which grew 5.7 per cent in the April-June quarter, highest in the past two-and-a-half years, India Inc on Friday said it expects the GDP to pick up further on the back of conducive investment policies and execution of reforms by government.
The Central Bureau has summoned Trinamool Congress's member of Parliament Abhishek Banerjee's brother-in-law in connection with a case of alleged illegal coalmining from the mines of the Eastern Coalfields Limited (ECL) in West Bengal's Asansol, involving the "kingpin" of the racket, Anup Manjhi, officials said on Friday.
Consumer stocks remain the biggest laggard on the bourses. The Nify50 weighting of FMCG stocks declined to a decade low of 9.9 per cent at the end of March this year, down 150 basis points from 11.4 per cent a year ago. At their peak in March 2013, major FMCG stocks, such as Hindustan Unilever, ITC, and Asian Paints, together accounted for 15 per cent of the Nifty50. But now together with automobile stocks, the consumer goods sector accounts for only 14.7 per cent of the index, down 200 basis points in the past 12 months and 37 per cent from the record high weighting of 23.4 per cent at the end of March 2014.
Adani Enterprises, the flagship company of the Adani Group, reported a profit after tax of Rs 557 crore for the first quarter ended June 30, 2014 on the back of a 43 per cent jump in revenue.
The Indian economy remains on track to regain its position as the world's fastest-growing major economy after official estimates on Friday put the expansion at a tempered 9.2 per cent this fiscal amid concerns over the impact of a resurgent virus on the fragile recovery. The growth in the gross domestic product (GDP) of 9.2 per cent in April 2021 to March 2022 fiscal (FY 2021-22) given by the National Statistical Office (NSO) in its first advance estimate compares with 9.5 per cent expansion forecast by the Reserve Bank of India (RBI) last month. The economy had contracted by 7.3 per cent in the previous financial year.
India should enhance its economic, cultural and defence ties with Mongolia. It is high time Modi should focus on gaining clout in smaller Asian countries such as Mongolia. It is in this context, India's engagement with Mongolia would give much-needed impetus to India's foreign policy, says Sana Hashmi.
In the context of market integrity, the IRAI and RBI should go over the minutes of the LIC and SBI board meetings when the decisions to invest in Adani equity or debt were taken, notes Jaimini Bhagwati, former World Bank treasury professional.
'They will be able to ride over this immediate crisis and carry on, but they need to take corrective steps and these will have to be long term measures which must include working closely with state governments.'
The Saveetha Institute of Medical and Technical Sciences. The Indian School of Mines, Dhanbad. Vinay Umarji explains why these two universities have made India proud.
The new orders sub-index, which includes domestic demand as well as orders from abroad, rose to 53.2 in May
Niti Aayog's plan to create a 'New India' in less than four years should invite scepticism, argues T N Ninan.
India's industrial output unexpectedly rose 1.2 per cent in May from a year earlier, led by a pick up in manufacturing, government data showed on Tuesday.
Mining output climbed 23.3 per cent and power generation increased 7.5 per cent in May. The IIP had contracted 33.4 per cent in May 2020. Industrial production has been hit due to the coronavirus pandemic since March last year when it had contracted 18.7 per cent. It shrank 57.3 per cent in April 2020 due to decline in economic activities in the wake of the lockdown to curb the spread of coronavirus infections. The IIP had registered a growth of 5.2 per cent in February last year.
Fuelled by the $57.8-billion merger of HDFC twins (HDFC Ltd and HDFC Bank), M&A (merger and acquisition) transactions in India touched a record high of $124.2 billion in the first half of 2022-23. Bankers said with several transactions, including the government's stake sale in IDBI Bank and Hindustan Zinc in the pipeline, the ongoing financial year will end up as the best year for M&A activity in the country. Apart from the HDFC transaction, the $6.5-billion acquisition of Holcim stake by the Adani family and L&T's $3.2-billion acquisition of Mindtree added to the record transactions in the first half of FY23.
The monthly electricity bills of the majority of domestic consumers in Delhi -- who use more than 200 units and up to 600 units -- will be hiked by up to Rs 265 due to an increase in the power purchase adjustment cost (PPAC) levied by discoms in the city, officials said on Monday.
According to the police, a Special Task Force team retaliated when the gangster, recently released from prison on bail, opened fire at them after being cornered. His car had crashed into a pole.
Capital goods output registered a steep decline of 16.5 per cent in June
Most of the economic activity in the country had come to a standstill after the government imposed a 21-day nationwide lockdown beginning March 25 to check the spread of coronavirus.
Union Home Minister Amit Shah on Thursday reviewed the situation prevailing in Jammu and Kashmir, including the security arrangements along the border with Pakistan, officials said.
India's GDP expanded 13.5 per cent in the April-June quarter, the quickest pace in a year, to retain the world's fastest growing economy tag but rising interest costs and the looming threat of a recession in major world economies could slow the momentum in the coming quarters.
The policy was part of the Aatmanirbhar Bharat package announced by Sitharaman in May 2020 as a coherent policy where all sectors would be opened for private sector participation.
Growth of capital goods at 9.6 per cent is inspiring as the investment cycle is expected to rebound in the coming months.
Controversy shrouds the expansion of the Akhilesh Yadav ministry on Monday with a social activist throwing a spanner by challenging before Governor Ram Naik the possible re-entry of tainted former Mines Minister Gayatri Prajapati.
A recent data released by the Central Statistics Office (CSO) confirm that both the manufacturing and mining sectors shrunk in 2013-14 with fall in output.
Billionaire Mukesh Ambani's Reliance Industries Ltd climbed two spots to No. 53 on Forbes' latest Global 2000 list of public companies worldwide. Forbes Global 2000 ranks the largest companies in the world using four metrics: sales, profits, assets and market value, Forbes said releasing the 2022 ranking of the world's top 2,000 companies. Reliance is the top-ranked Indian firm on the list, followed by State Bank of India at No. 105, HDFC Bank at No. 153 and ICICI Bank at No. 204.
Report says gold being exported by persons of Indian origin and routed through Dubai
I suggest we build a Vigyan Mandir (Temple of Science) with the ambience of a place of worship, so that it becomes a destination for pilgrims. We should embed on its walls bronze plaques describing each scientist mentioned here along with about a dozen of our ancient mathematicians, recommends Professor Kalyan Singhal, historian of science and technology.
The manufacturing sector, a key indicator of economic activity, grew 10.6 per cent year-on-year in October.
NSO has pegged economic growth at 5 per cent in 2019-20 in its second advance estimates.
The gross NPAs of some public sector banks, including State Bank of India and Punjab National Bank have crossed 4 per cent of the total assets at the end of March, 2013.
The country's economic growth hit a decade low of 5 per cent in the last fiscal on account of poor performance in the farm, manufacturing and mining sectors.
Chief economist at State Bank of India has revised downward the full-year growth forecast to a low 6.8 per cent from 7.5 per cent earlier for FY2023, citing "the way below GDP numbers for the first quarter". The National Statistical Office on Wednesday released the Q1 growth numbers which showed a consensus growth of 13.5 per cent, pulled down by the poor show of the manufacturing sector, which reported a paltry 4.8 per cent expansion in the first three months of FY23, negating the robust show by the services sector. Consensus forecast was 15-16.7 per cent of which the RBI made the highest forecast of 16.7 per cent.
Niti Aayog CEO Amitabh Kant on Tuesday said it is difficult to carry out tough reforms in India and emphasised that more reforms are needed to make the country competitive in the global environment. Addressing a virtual event organised by Swarajya magazine, Kant said for the first time, the Centre has carried out hard reforms across sectors, including mining, coal, labour, agriculture, and the next wave of reforms must be pushed by the states.
India's economy grew by 1.6 per cent in the fourth quarter of 2020-21, restricting the full-year contraction to 7.3 per cent, official data showed on Monday. The fourth quarter growth was better than the 0.5 per cent expansion in the previous October-December quarter of 2020-21. The gross domestic product (GDP) had expanded by 3 per cent in the corresponding January-March period of 2019-20, according to data released by the National Statistical Office (NSO).
The second-quarter GDP numbers are scheduled to be announced on Friday.
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The agency has kept its FY15 growth forecast unchanged at 5.6 per cent.
The status of the current submarine force level is alarming and we need to address the threat perceptions expeditiously. Critical decisions pertaining to national security cannot be delayed any further due to the rapidly changing maritime threat perceptions and growing strategic importance of the Indian Ocean region, asserts Commodore Venugopal Menon (retd).
10 high dividend paying stocks across sectors that are expected to maintain or even increase their pay-outs in FY23 thanks to faster earnings growth in the last four quarters.
Donations from corporates to the national parties increased by 109 per cent between FY 2017-18 and 2018-19, said an analysis by the Association for Democratic Reforms (ADR), an NGO working for bringing in transparency in electoral politics.
Moitra brought two birthday caps in the House to press her argument that the businessman being most talked about had "topi-pehnau-ed" the government.
