Analysts have largely maintained their positive outlook on HDFC Bank, as the private lender reported in-line results for the October-December quarter (Q3) of the current financial year (2024-25/FY25). They believe the results were 'strong' given the tough macro environment, and relative to peers.
From the 30-share Sensex blue-chip pack, Tata Steel, Zomato, Larsen & Toubro, Tata Motors, Adani Ports, Tata Consultancy Services, HDFC Bank and NTPC were the major laggards. Nestle, Hindustan Unilever, Mahindra & Mahindra, Kotak Mahindra Bank, Asian Paints and Bharti Airtel were among the gainers.
If you're doing the work, if you're delivering results and contributing to the success of your team or organisation, you deserve to be compensated equitably, says Sonica Aron, founder of HR consultancy firm Marching Sheep.
Divya Nair/Rediff.com speaks to students and experts to find out whether it is better to study management in India or try for an international MBA.
The Supreme Court of India expressed deep concern over the rising drug abuse problem in the country, highlighting the impact on youth and the need for urgent intervention. The court emphasized the need for rehabilitation rather than demonization of drug users and called for open discussions to address the issue. The judgment came while granting bail to a man accused in a heroin smuggling case. The court cited a 2019 report that indicated a significant number of people in India use opioids, cannabis, and other substances, with alarming trends in opioid dependence.
India is far behind global competitors such as Vietnam, Taiwan, and Mexico in increasing electronics exports to the US by making the most of Washington's tariff action against China. In 2018, the US imposed a 25 per cent punitive duty on a range of Chinese electronics items. The trade duties led to a sharp fall in Chinese electronics exports to the US from $207 billion in 2018 to $140.2 billion in 2019, down 32 per cent, according to Indian Cellular and Electronics Association (ICEA) data, which has been analysed by ITC Trade Map.
At 27, the second seed is still seeking his first Grand Slam title and hopes to become the first German man to win the Australian Open since Boris Becker in 1996.
Fitch Ratings on Monday said India's pace of debt reduction is gradual, leaving room for a downside risk to sovereign rating in the eventuality of a significant economic shock. However, the rating agency expressed confidence in India's ability to stick to its medium-term fiscal framework, which aims to reduce debt and bring it on a downward trajectory over time.
The gesture was a heartfelt tribute to Shakib's exceptional Test career, which has spanned over a decade and cemented his status as one of the finest cricketers of his generation.
Amid a debate over 70-90-hour work week, the pre-Budget Economic Survey on Friday cited studies to state that spending over 60 hours a week on work could have adverse health effects. The survey noted that spending long hours at one's desk is detrimental to mental well-being and individuals who spend 12 or more hours (per day) at a desk have distressed or struggling levels of mental well-being.
With just four trading sessions to go for the ITC-ITC Hotels demerger record date shares of ITC continue to consolidate in a thin range of Rs 460 - Rs 480 in an otherwise volatile equity market. On Tuesday thus far despite a near 1 per cent fall in the Sensex and Nifty; ITC traded on a flat note. ITC had set the demerger ratio at 1:10 - meaning 1 share of ITC Hotels for every 10 shares of ITC as of the record date January 6, 2025.
'Geopolitics will be the most important driver of financial markets in 2025.'
The take by the Economic Survey 2024-25 on work hour week had come weeks after Larsen & Toubro Ltd Chairman and Managing Director SN Subrahmanyan sparked off a raging debate on social media when he said employees should work 90-hour a week, including on Sundays rather than sit at home.
The last time these two indexes recorded a negative performance on a calendar year basis was in CY19.
Big, listed FMCG (fast-moving consumer goods) companies such as Hindustan Unilever, ITC, Nestl, and Britannia have been top-performing stocks on the bourses in recent weeks. The Nifty FMCG index, which tracks the share prices of the country's top 15 listed FMCG companies, is up 1.9 per cent month-to-date in May compared to a 2.4 per cent decline in the benchmark Nifty 50 in the period.
Excess earnings of unlisted companies over and above their interest costs are at a record level. The interest-coverage ratio of 2.94 is the highest going back to 1990-91, according to numbers from the Centre for Monitoring Indian Economy (CMIE). The ratio measures earnings relative to every rupee to be paid as interest on outstanding debt.
Avoid last minute cramming. Focus on revision, advises rediffGURU Nayagam PP.
Engineering conglomerate Larsen & Toubro (L&T) is preparing the ground to begin the commercial sale of electrolysers in September, which would be 50 per cent cheaper than its European counterparts, a senior company executive has said. An electrolyser is a key equipment required for the generation of green hydrogen. Last quarter, L&T manufactured its first electrolyser as a prototype.
'We have to keep knocking on it before we get a response.'
IT services major Infosys on Thursday reported 11.46 per cent increase in consolidated net profit at Rs 6,806 crore for December quarter FY25 and raised its guidance on the back of growth in financial services and manufacturing. The company had logged a profit of Rs 6,106 crore in the corresponding period of the previous fiscal.
Despite tight security measures, dedicated supporters climbed trees and brought ladders to catch a glimpse of Virat Kohli during his practice session.
Start with your strongest subject. This will give you an edge. Don't risk negative marking with blind guesses, advises rediffGURU Nayagam PP.
Market reaction to the Union Budget was overall neutral. The income tax "gift" wasn't enough to move the needle. There was some apparent rationalisation of Customs duty structure as well as cuts on import duties of some key components for the telecom and IT industry and duty cuts on vehicle imports. Other proposals related to development of agriculture and rural economy and renewables seem to be generally positive.
The Fintech Association for Consumer Empowerment (FACE), the only self-regulatory organisation for financial technology/fintech (SRO-FT) companies, is aiming to secure membership from at least 75 per cent of players across all key fintech categories within the next three years, according to a senior executive. The total number of members in the organisation has increased to 110, up from around 60 when it received approval from the Reserve Bank of India (RBI) to operate as an SRO-FT in August.
In an online chat with readers January 24, Rajeev Mahajan of Antworks answered queries on personal loans and peer to peer lending.
"The new structure will substantially reduce taxes on the middle class and leave more money in their hands, boosting household consumption, savings and investment," Sitharaman said presenting what was dubbed as 'reformist' budget for the next fiscal in Lok Sabha.
Markets to track inflation data, global trends, FII trading this week: Analysts New Delhi, Dec 8 (PTI) Investors' sentiments will be guided by a host of domestic and global macroeconomic data announcements this week, along with the trading activity of foreign investors and trends in world stocks, analysts said. Besides, the rupee-dollar trend and movement of global oil benchmark Brent crude will also be crucial in dictating terms in the market, experts added. "The domestic stock market is likely to be shaped by a mix of global cues, domestic economic indicators, and the flow of investments from foreign and domestic institutional investors. Key factors like the rupee's exchange rate and crude oil prices will play a critical role in determining market trends. "Globally, geopolitical tensions, particularly the ongoing Russia-Ukraine conflict, continue to pose challenges. However, recent declines in the dollar index and US bond yields have created a more favourable environment for emerging markets like India," Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd, said. On the economic front, significant macroeconomic releases, including retail inflation and industrial production data from India as well as US core CPI, are expected to influence overall market sentiment, Gour added. Last week, the BSE benchmark jumped 1,906.33 points or 2.38 per cent, and the NSE Nifty climbed 546.7 points or 2.26 per cent. "FIIs turning buyers in early December, in a total reversal of their sustained selling strategy during the last two months, has altered the market sentiments. The change in FII (Foreign Institutional Investors) strategy is getting reflected in stock price movements, particularly in large-cap banking stocks in which FIIs have been sellers," VK Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said. The release of US CPI inflation data will give some insights into the Fed's December meeting, an expert said. "The markets' attention is expected to turn towards macroeconomic indicators like IIP and CPI inflation. Additionally, the trend of FII inflows, following their recent buying spree, will remain a key focal point for market participants," Ajit Mishra - SVP, Research, Religare Broking Ltd, said. Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd, said this week will see significant economic data releases, including GDP numbers from Japan and the UK, along with China's CPI and India's CPI.
Private sector banks that announced their earnings for the October-December quarter (Q3) of 2024-25 (FY25) reported a rise in credit costs due to higher provisions, mainly for unsecured retail loans.
Growth in corporate profits needs to be commensurate with wages to boost the economy, Economic Survey 2024-25 said, noting that sharp disparities between the two pose risk to the economy by curbing demand. The document tabled in Parliament on Friday noted that while the labour share of GVA (gross value added) shows a slight uptick, the disproportionate rise in corporate profitsredominantly among large firmsaises concerns about income inequality.
ICICI Prudential Life Insurance (IPRU) disappointed the market even though some analysts said the Q3FY25 results were in line. Most analysts cut margin estimates. The insurer reported M9FY25 growth of 8.5 per cent year-on-year (Y-o-Y) in value of new business (VNB) premium to Rs 1,575 crore, while total annual premium equivalent (APE) grew 27.2 per cent to Rs 6,910 crore.
'Earlier, our cost of funds was higher than most in the peer group.'
Home appliance maker Crompton Greaves Consumer Electricals reported better than expected performance in the second quarter (Q2) of 2024-25 (FY25), outperforming peers due to a strong showing in the electrical consumer durables (ECD) segment. The company's standalone sales rose by 10.5 per cent, while the ECD segment continued its growth momentum with a 12.5 per cent increase in revenues, driven by volume and pricing gains.
Short-term government bonds fell behind longer-dated securities in demand this month so far due to a liquidity crunch in the banking system and expectations of a delay in a rate cut, said market participants. Investors have favoured longer-tenure government bonds, or g-secs, with insurance companies and pension funds leading the charge by stocking up on those with maturities of 30 years and more. Preference for longer-term securities was strengthened by the conclusion of the borrowing programme, which compelled institutional investors to fulfil their requirements in the secondary market.
Dr Reddy's Laboratories (DRL) share price plunged 6.66 per cent to Rs 1,203.50 per share on the NSE during Friday after analysts remained cautious on the company's Q3 performance and differed on its growth outlook. DRL's Q3 performance was viewed as subdued by some analysts when they adjusted it for one-time grants and incomes that the company received during the quarter.
State Bank of India, NTPC, ITC, Asian Paints, Bajaj Finance and Bajaj Finserv were also among the major laggards. In contrast, Power Grid, UltraTech Cement, HCL Technologies and Axis Bank were among the gainers.
Weighing in on the 90-hour workweek controversy, ITC Ltd chairman Sanjiv Puri said that it is more important for the workers to be aligned to the grander vision of the company rather than the number of hours put in. Giving an analogy of many workers building a castle, he said, "If you ask a mason what he is doing, he might say he is laying a brick, another might say he is building a wall but some might say he is building a castle.
10 largecaps stocks which stand to gain from the Budget.
The Supreme Court on Saturday gave the Punjab government time till December 31 to persuade farmer leader Jagjit Singh Dallewal, who has been fasting for over a month, to shift to hospital.
From the 30-share Sensex pack, Mahindra & Mahindra, Tata Steel, Adani Ports, JSW Steel, IndusInd Bank, Reliance Industries, HDFC Bank and Kotak Mahindra Bank were the biggest laggards. Tata Motors, NTPC, Hindustan Unilever, Asian Paints and Infosys were the gainers.
The majority of active largecap funds are set to outperform for the second year in a row in 2024, thanks to the strong performance of their midcap and smallcap allocations.
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