DMK working president M K Stalin has appealed to cadres to remain calm and to follow discipline in 'this hour of grief'.
The government is selling its entire 100 per cent stake in Air India but wants effective control to stay with Indian nationals.
Price correction over post-election peaks could throw disinvestment calculations awry.
Brokerages are expanding the universe of stocks they cover amid a boom in the market. Several stocks in the mid-cap universe are now tracked by more analysts than they were a year ago. For instance, SBI Cards and Payment Services is now tracked by 17 brokerages, compared to just four a year ago.
Market cap of government companies has remained unchanged in the past 8 years.
The Chaturvedi Committee and the public sector oil marketing companies have suggested that all industrial and commercial establishments including the state transport undertaking and the railways, which are the largest consumer of diesel in the country, should pay for the fuel at the market rate. The public sector oil marketing companies sell diesel and petrol at highly subsidised prices in order to shield customers from the rise in crude oil prices.
The ministry of petroleum and natural gas has granted seven authorisations to companies for selling automobile (auto) fuels in the country. These new approvals are under the relaxed guidelines for authorisation to market transportation fuels that were revised in 2019. This is expected to make the competition more intense in India's petroleum retail business. According to a top oil ministry official, a fresh marketing authorisation has been granted to Reliance Industries (RIL) under these norms. This is being done since RIL's existing retail marketing authorisation has been transferred to its subsidiary Reliance BP Mobility
In a first, the Comptroller and Auditor General's (CAG) officers reached out to several ministries in the last week of April as part of a confidence-boosting measure. The meeting brought the CAG officials and those from the ministries across the table to discuss the pain points in their relations. CAG of India Girish Chandra Murmu took this novel step because of growing tensions between those audited and the auditor.
An announcement has barred the entry of journalists in the finance ministry.
After witnessing cloudy skies this year, the country's renewable energy sector is expected to boom with a likely investment of over $15 billion in 2022 as the government focuses on electric vehicles, green hydrogen, manufacturing of solar equipment as well as achieving the ambitious 175 GW renewable capacity target. India, which has an installed renewable energy generation capacity of a little over 150 GW, aims to reach 175 GW in 2022. Out of the total mix, 100 GW would be from solar, 60 GW from wind, 10 GW from bio-power and 5 GW from small hydro power projects.
Putting money in key PSUs a better option
The CIL disinvestment has been hanging fire because of opposition from the trade unions. Mayaram's statement that the coal major will have to pay a higher dividend comes as the government makes efforts to meet its Rs 40,000 crore (Rs 400 billion) disinvestment target.
Capital goods stocks rallied nearly 16 per cent since January on purchases by foreign institutional investors and in anticipation of a change of government at the Centre.
The sale is key to meeting the government's disinvestment target of Rs 2.1 trillion in the financial year 2020-21. So far, the disinvestment exercise has fetched the government Rs 34,845 crore during the current financial year.
'The procurement cycle still consumes too much time; little has changed.'
The defence ministry has lost sight of what it intended to achieve -- which was to nurture private defence firms that would compete on equal terms with the 9 defence PSUs and the 41 Ordnance Factory Board factories.
While divestment through IPOs saw an over 90 per cent drop as compared to the previous financial year, the exchange traded fund (ETF) route proved to be a shot in the arm for the government, reports Sundar Sethuraman.
Parallel to this, the ruling Telugu Desam has been organising rallies across the state in solidarity with its MPs.
An analysis of the frequency of various watchwords in the finance minister's Budget speech shows that he was perhaps trying to hold on to his ideas without treading on anybody else's toes, says A K Bhattacharya.
Crude oil hit an all time high in rupee terms; Tuesday figures expected to be higher
Select the exact category by matching your investment horizon to the portfolio duration, suggests Sanjay Kumar Singh.
It was decided that the senior-most Army officer in a state would get in touch with the chief minister to understand the requirement and take forward the process, including offering to treat civilians wherever possible
Infosys has emerged as the fastest growing IT services brand following 52 per cent brand value growth since last year and 80 per cent since 2020 to $12.8 billion, earning it third spot, the brand valuation consultancy said in its latest Global 500 IT Services Ranking report. TCS and Infosys have pushed IBM to fourth spot from second. IBM's brand value now stands at $10.6 billion, a decline of 34 per cent from last year and 50 per cent since 2020.
Foreign brokerages said if SBI decide to buy stake in the bank, they should buy it at Rs 1 per share as the net worth is hugely impaired.
Commerce and Industry Minister Piyush Goyal urged start-ups to focus on three Ps - product, process, people - for building Aatmnirbhar Bharat.
The negative aspect about the Budget is that the capital expenditure has been marginally cut to achieve the fiscal deficit target assumptions, and the onus of sustaining investment demand till private capex revives continues to vest with the public sector enterprises, notes Jyotivardhan Jaipuria.
India is back on the diplomatic table pushing oil producing countries to raise production in a bid to cool down runaway oil prices. Brent crude oil prices traded above $90 a barrel, on Thursday, for the first time since 2014. Brent is the most popular marker for crude oil trade. It is used as a benchmark for two-thirds of the world's internationally traded crude oil.
The focus is on tapping all resources, even foreign agencies.
With Ola Corporate, aims to provide services to 10,000 firms by next year
But it is disappointing to note that Sitharaman's third Union Budget continues to promote a few problematic ideas, observes A K Bhattacharya.
If advance tax revenue fails to meet the expected growth, these PSUs could be asked to pay taxes on past demands raised against them.
Finance Minister Nirmala Sitharaman on Friday hiked tax on petrol and diesel, raised import duty on gold, levied additional surcharge on super rich and brought a tax on high value cash withdrawals as she sought to spur growth with reduction in corporate tax and sops to housing sector, startups and electric vehicles.
The warships will be armed with BrahMos supersonic cruise missiles which can reach targets 295 km away.
Supreme Court says guidelines were breached, no criteria were followed while allocating the blocks.
The Supreme Court on Monday held that all coal block allocations made since 1993 till 2010 before pre-auction era during previous National Democratic Alliance and United Progressive Alliance regimes have been done in an illegal manner by an "ad-hoc and casual" approach "without application of mind".
S Naren, CIO of ICICI Prudential Mutual Fund, in an interview with Chandan Kishore Kant, says cyclicals will offer good value.
Strategy being reworked to launch ETFs, revive Suuti; proceeds may be Rs 24k crore
The panel is expected to suggest various relief measures to put economy back on track as soon as possible, the sources said.
The proposal, in preliminary stages, is likely to be finalised within a couple of months.
