Notwithstanding the robust turnaround in the financial performance for the June quarter (Q1FY24), stocks of state-run oil marketing companies have been in a downtrend in the last month. The fall comes on a rise in crude oil prices that have surged to a 7-month high of $88 a barrel. A busy political calendar in the months ahead that may see the government keep a lid on auto fuel prices is also a dampener, analysts said. Shares of Hindustan Petroleum (HPCL), Bharat Petroleum (BPCL) and Indian Oil (IOC) have shed 9-11 per cent since their respective earnings announcement between July 26 to August 4.
The Survey is authored by Chief Economic Advisor V Anantha Nageswaran and his team.
'The government is saying 88 Hindus have been killed, but it could be much more.' 'Their properties are being looted, their businesses have been ransacked. I am getting distress calls from there.' 'Muslims who believe in the philosophy of Sheikh Mujibur Rahman are also under attack. Most of those who have fled Bangladesh after Sheikh Hasina's fall are Muslims.'
... and there is no stopping its pan-Islamic agenda, cautions Ambassador M K Bhadrakumar.
'AAP's clear goal is to remove the BJP from Haryana politics. But if anyone considers us weak, then it will be their biggest political error'
Voters, it is said, get the government they deserve. We will soon see what voters in Maharashtra choose. Till then, a sense of helplessness and scepticism hangs in the air, notes Ramesh Menon.
Perhaps because the Modi government had some differences of opinion with two of the economist governors (one of whom was appointed by the Manmohan Singh government), there is a view that its political leadership prefers a civil servant to head the RBI, notes A K Bhattacharya.
'The race is now on for Indian IT firms to develop their AI prowess and focus on a software-first approach to services as the people element becomes more complicated with Trump's expected new regulations.'
Influential Patidar leader Naresh Patel, who heads the Shree Khodaldham Temple Trust, on Wednesday claimed that though the older generation is against him joining politics, youth and women want him to take the route.
'Till the time you have the equations right the market will remain concerned.' 'If the (coalition) government is taken care of, then probably (the markets will) come back to its rhythm.'
The Reserve Bank is unlikely to cut the benchmark interest rate in its forthcoming bi-monthly monetary policy review later in the week as retail inflation is still a cause of concern, and there is a possibility of the Middle East crisis deteriorating further, impacting crude oil and commodity prices, say experts.
'By his words, actions, and body language during their joint press appearance wanted to convey his personal respect and, more broadly, his desire to work closely with India.'
In his tweets, Modi also conveyed his "profound gratitude" to Benjamin Netanyahu, whose long tenure as Israeli prime minister ended on Sunday.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
Among those released were the Wall Street Journal reporter Evan Gershkovich, former Marine Paul Whelan and journalist Alsu Kurmashev. This was part of multi-country deal with Russia.
The veteran diplomat said Hasina has stayed in India before after the assassination of her father and Bangladesh independence hero Sheikh Mujibur Rahman who later became the country's prime minister. Rahman was assassinated in August 1975.
The India-US nuclear deal was aimed at ending India's nuclear isolation and nuclear apartheid, recalls Rup Narayan Das.
'It has been 14 years since I began living in exile and it's shocking that the situation in Balochistan has only worsened rather than improved.'
More than half a dozen companies will hit the market with their initial public offerings (IPOs) between now and the end of next week. The cumulative amount raised from these IPOs is expected to be around Rs 8,000 crore. Stationery products firm DOMS Industries and home financier India Shelter Finance's IPOs - of Rs 1,200 crore each - got off to a flying start on Wednesday (December 13), with the former garnering over six times the subscription and the latter getting 1.5 times subscribed.
Governor Lalji Tandon had on Saturday night directed Chief Minister Kamal Nath to seek a trust vote in the House immediately after he delivers his customary address on the first day of the Budget session beginning Monday. Interestingly, holding of a floor test found no mention in the List of Business (LoB) issued by the state assembly secretariat on Sunday night.
Shigeru Ishiba is expected to prioritise strengthening Japan's military capabilities and fostering deeper international partnerships, particularly with India, with whom Japan shares significant strategic interests, explains Dr Rajaram Panda.
Separately, External Affairs Minister S Jaishankar briefed Prime Minister Narendra Modi about the rapidly unfolding situation in Bangladesh. It is learnt that Jaishankar also apprised Leader of Opposition in Lok Sabha Rahul Gandhi on the developments.
Snapping the two months slide, the country's merchandise exports rose marginally by 0.5 per cent to $34.58 billion in September while trade deficit narrowed to $20.78 billion. According to official data released on Wednesday, imports increased by 1.6 per cent to $55.36 billion in September compared to $54.49 billion in the year-ago period. The trade deficit, or the gap between imports and exports, was $20.8 billion during the same month last year.
Foreign investors continued their relentless selling in the Indian equity markets in August, offloading shares worth Rs 21,201 crore due to the unwinding of the yen carry trade, recession fears in the US and ongoing geopolitical conflicts. This came after an inflow of Rs 32,365 crore in July and Rs 26,565 crore in June, data with the depositories showed.
The mutual fund (MF) industry had an action-packed 2023 as it tackled the scrapping of tax benefits for debt fund investors and surging flows into equity funds.
All the global transitions are working in India's favour, giving it the potential to become a force in today's uncertain world, but one of the country's biggest challenges is inclusive growth, Tata Sons chairman N Chandrasekaran said on Monday. In his address at the JRD Tata Oration, the head of the Tata group also asserted that Artificial Intelligence (AI) is here to stay and it will be beneficial if India prepares for it. Post the cold war era of relative stability and prosperity, the world appears to have given way to unpredictable conflicts and economic uncertainty, he said, adding that the pandemic resulted in supply chain shocks of gigantic proportion.
'Bangladesh has become unstable and this instability will impact India.'
Modi congratulated Shehbaz Sharif on his election as the Pakistani prime minister
'Trump's disregard for norms and institutions could prove very costly for America's social fabric.'
'India represents one of the top opportunities with robust growth, solid fundamentals, and openness to foreign investment.'
India's exports may have touched an all-time high of $422 billion in 2021-22 but recession in key western markets and geo-political crisis due to the Russia-Ukraine war are expected to impact the growth of the country's outbound shipments in 2023. All the global trade promoting factors like political stability, movement of goods, adequate availability of containers and shipping lines, demand, stable currency and smooth banking systems are in disarray. Adding to the woes, COVID cases have again started rising in countries like China, Japan, South Korea and the US.
Uncertainty shadows the composition of the two main political alliances in Bihar with several parties still exploring their choices as the Election Commission on Friday announced the schedule for the assembly polls.
'Disengagement is merely the first step in a lengthy process of arriving at a new normal along the LAC in Eastern Ladakh and the entire land boundary.' 'The Indian government should insist on the restoration of the status quo ante in Eastern Ladakh.'
Kakar, a lawmaker belonging to Balochistan Awami Party (BAP), will lead a caretaker government until a new election later this year.
Those familiar with intricate Kashmir politics do not rule out further delay in the assembly elections. Primarily, because the BJP having 'invested' so much for so long in Kashmir would try its best to wait a little longer if only to secure the 'gains' it believes to have achieved after its deafening action on August 5, 2019, points out Mohammad Sayeed Malik, the veteran commentator on Kashmir affairs.
Xi does not want to risk any political or economic crisis complicating his bid to remain in office, observes Ambassador Shyam Saran, the former foreign secretary.
The three main political parties in Pakistan on Sunday intensified their efforts for the formation of a coalition government after it became clear that the coup-prone country faced a hung Parliament after general elections marred by allegations of rigging.
After remaining in the positive zone for three months, India's exports contracted 1.2 per cent to $33.98 billion in July, while the trade deficit widened to $23.5 billion.
'Whatever ED officers do -- issue summons, conduct searches or arrest a person -- they have to face the courts.'
Jaishankar briefed the leaders of all parties about the situation in the violence-hit nation and the steps taken by the Indian government.
