'We have focused on it quarter after quarter and started to build the pipeline.'
'The private sector will look to the budget to check whether there are any headwinds or tailwinds.'
Almost all verification and assessments of returns selected for scrutiny are being done electronically through an anonymous back office, manned by tax experts and officials, without any personal interface between taxpayers and officers.
While Chouhan has emerged as a favourite to remain at the helm in MP despite the presence of some challengers, the leadership race is wide open in Chhattisgarh and Rajasthan, two states where the BJP has snatched power from the Congress.
Entertainers can be good politicians if they treat the citizens as the audience, and treat their job like a live show, and work hard to make sure the audience likes them, asserts Sandeep Goyal.
Riding the wave of the equity market, the mutual fund (MF) industry experienced double-digit growth in Samvat 2079, concluding the Hindu calendar year close to the Rs 50 trillion assets under management milestone. After a subdued 6 per cent growth in Samvat 2078, the industry's assets surged over 18 per cent last year to Rs 46.7 trillion. Industry players anticipate that Samvat 2080 will also be a fruitful year for the asset management industry, given the strong inflows from retail investors, particularly through the systematic investment plan route.
Educational technology company Byju's chief financial officer Ajay Goel has quit after completing the audit process for the financial year 2022 and will return to Vedanta, the company said in a statement. The edtech major has roped in industry veteran Pradip Kanakia as senior advisor, and president (finance) Nitin Golani has been given additional responsibility as India chief finance officer (CFO) to handle the finance function of the company.
Hero MotoCorp, India's largest two-wheeler maker, has seen a decline in its market share in rural areas since 2018, losing ground to major competitors such as TVS Motor Company, Bajaj Auto, and Honda Motorcycle & Scooter India (HMSI), according to data from JATO Dynamics reviewed by Business Standard. Hero's share of rural two-wheeler sales in India has dropped from 40.4 per cent in 2018 to 33.3 per cent in 2023. In contrast, Bajaj's share increased from 12.7 per cent in 2018 to 13.9 per cent, HMSI's from 21.8 per cent to 22.2 per cent, and TVS' from 15.5 per cent to 17.8 per cent. Suzuki Motorcycle India has also seen its share rise from 1.7 per cent to 2.5 per cent.
In a multi-year first, the country's largest software exporter TCS on Monday reported a marginal decline in its overall employees for the December 2022 quarter but announced that it will be hiring over 1.25 lakh staff in FY24. The software firm posted a decline of 2,197 people in its employee base for the October-December period to 6.13 lakh. The Tata group company, however, made it clear that this was due to the higher hiring done over the last 18 months, and not driven by the demand environment.
A look at how Gucci's Cruise collection brought back lost trends into fashion.
For Lori Beer, chief information officer, JPMorgan Chase & Co, largest banker in the US, India is a big part of the organisation's global technology footprint and is core to its products and services. This is evident from the fact that in less than two months since JPMorgan & Chase chief executive officer Jamie Dimon visited India, Beer has come here to see the recently opened centres in Mumbai and Bengaluru. "What is different for me this year are our new centres and to be able to come and see the vibrancy, and connectedness is great.
Snapping its declining trend, retail inflation rose to a three-month high of 5.55 per cent in November on firming food prices, including vegetables and cereals, though it remains within the RBI's comfort zone of less than 6 per cent. Inflation based on the Consumer Price Index (CPI) was 4.87 per cent in October and 5.88 per cent in November 2022, the government data released on Tuesday showed. The previous high was 6.83 per cent in August and inflation had been on a decline since then.
Banks, the biggest component of the Indian equity market, are now trading at a big discount to the benchmark indicesThe BSE Bankex index, which tracks the share price of the 10 top listed banks, is trading at a trailing price to earnings (P/E) multiple of 15.3X, nearly a 40 per cent discount to the BSE Sensex current P/E of 24.37X. This is the biggest valuation gap between the two indices in at least 10 years. Similarly, the BSE Bankex price to book ratio (P/B) of 2.22X is 40 per cent lower than the current Sensex P/B ratio of 3.61X.
'Your decisions should not be driven by your view on the market, but by your objectives, risk appetite, and time horizon.'
Amid a surge in dengue cases in Karnataka, Chief Minister Siddaramaiah on Monday said he has instructed officials to take all necessary precautionary measures to prevent spread of the vector borne disease and urged the people to give utmost priority to cleanliness in their neighbourhoods.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
There is no near-term respite for the country's largest fast-moving consumer goods maker, Hindustan Unilever (HUL), which is facing multiple challenges on the growth front. With demand showing no signs of improvement, especially in the rural segment, the October-December quarter (Q3) of 2023-24 (FY24) is likely to be similar to the previous quarter, with volume growth in the low single digits. The stock, which is down 7 per cent over the past year compared to the 11 per cent jump for the S&P BSE Sensex, could underperform the benchmark in the near term as well.
High-value insurance policies experienced muted growth in the first six months of the current financial year after the Centre decided to tax such products in this year's Budget. Simultaneously, there has been a marked improvement in the growth of policies with premiums of 'less than Rs 5 lakh', mainly originating from smaller cities. During this year's Budget, Finance Minister Nirmala Sitharaman proposed that insurance policies (excluding unit linked insurance plans or ULIPs) with an aggregate premium exceeding Rs 5 lakh, and the maturity amount, would not be exempt from tax.
An effective booth-level strategy, strong organisational manoeuvre and the popularity of Prime Minister Narendra Modi and Chief Minister Shivraj Singh Chouhan are among the key factors that turned the tide in favour of the Bharatiya Janata Party in the Madhya Pradesh assembly polls.
The remarks by Sibal, a noted advocate, came after Nationalist Congress Party leader Ajit Pawar and eight others were inducted into the Eknath Shinde-led Maharashtra government.
White-collar hiring witnessed an 8.6 per cent annual decline in September, following a negative trend in sectors including IT, BPO or ITES and FMCG, a report said on Monday. On a month-on-month basis, however, there has been a growth of almost 6 per cent in job postings. In September, there were 2,835 white-collar job postings, down by 8.6 per cent compared to the same month last year when 3,103 jobs were posted, according to Naukri.com's monthly 'Naukri JobSpeak Index'.
'The focus needs to shift towards the ability to collect payments, particularly in tier-3 to tier-4 areas where acceptance is still lacking.'
India's top IT companies have shown a hiatus between their performance on the bourses in the pandemic period and earnings growth. The combined market cap of the top five IT companies - Tata Consultancy Services, Infosys, Wipro, HCL Technologies, and Tech Mahindra - is up 87 per cent since the end of March 2020. In comparison, the benchmark BSE Sensex is up 68 per cent during the period. So the industry beat the broader market by a big margin in the last one year.
Actively managed debt funds with the flexibility to go long on duration made a strong comeback on the returns chart in 2023, thanks to softening bond yields. The average one-year returns of floater, long-duration, gilt, and dynamic bond funds, which ranged between 2.3 per cent and 4.5 per cent at the end of 2022, now stand at over 7.2 per cent, with some schemes delivering over 8.5 per cent, according to data from Value Research. Debt fund returns are inversely related to yields of underlying investments, meaning a decline in yields is positive for funds.
In 2017, absorption in co-working/serviced offices was 2.83 million sq ft, about 186 per cent higher than that of 1.52 million sq ft in 2016.
The results of this election, largely touted as a three-cornered contest among a spirited AAP, a confident BJP and a hopeful Congress, may have ramifications beyond the national capital.
Rajasthan is all set to vote on Saturday to elect members of a new assembly with the Bharatiya Janata Party aiming to unseat the ruling Congress, which is fighting hard to change the trend of alternate governments in the state.
The office space absorption in seven cities, Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad and Pune, rose 14 per cent during the July-September quarter compared with the year-ago period.
Creating a positive reform that does away with an official who constitutes a flawed aspect of Indian democracy will allow the BJP to rightfully claim this as one of its positive legacies, suggests Karan P Shah.
Displaying 'ARMY' on private transport is an attempt to milk the respect and reverence that the common citizen has for a person in the armed forces, observes Colonel K Thammayya Udupa (retd). By writing 'ARMY' and displaying regimental insignias, we expect a few misdemeanours to be overlooked.
The share of slow-moving orders in the overall order book of Larsen & Toubro (L&T) is at a multi-year low. This has led to a renewed focus on fast-moving orders. A mix of factors such as commodity price fluctuations, robust order inflow and strong sectoral demand have put capital goods order book in the fast lane, analysts and company executives said. L&T, with its large presence in the capital goods sector, is often seen as the bellwether for trends in this space.
'Data-dependence means you can raise or drop rates. The present stance is only for raising rates.'
Consumer durables retailers and manufacturers may end up bearing the cost of the Reserve Bank of India's (RBI's) tightening on easy personal loans, as their margins are expected to be impacted by higher borrowing costs. During the recently passed festival season, consumer durables companies started offering longer tenure loans, zero down payments, and zero interest on a wider assortment of products than ever before, making the products more affordable. While 18- and 24-month easy monthly instalment (EMI) options were available earlier, companies offered them only on select products; now, they are being extended to a larger section of products.
'Nearly all companies are extending festival offers for entry-level, sedan, and hatchback segments.'
Celebrities are taking a stand on gender equality.
'An important dimension that shone through was the enormous pride in India, a general belief that as Indians we are starting to count globally and we are at the forefront of the world.'
'You have to have commitment to both, but it has to be done at the individual level.'
With over 80 million Unified Payments Interface (UPI) users, Amazon Pay, the payments business of e-commerce giant Amazon, has been growing at 40-50 per cent year-on-year (Y-o-Y), said Mahendra Nerurkar, chief executive officer (CEO) and vice-president (V-P), Amazon Pay India. "Leveraging just the micro peer-to-peer (P2P) transactions on UPI is not a business model. "While we have enabled those features, we do not chase monthly active users based on this.
It isn't that a person occupying high office has no right to do what he/she likes. For sure, they do; after all, they are human. But there are also things like priority, timing and sense of larger country. Sadly, we live in a world awash in tunnel vision, asserts Shyam G Menon.
