The weak April-June quarter (first quarter, or Q1) results of the largest listed specialty chemical maker, SRF, and multiple global headwinds for the sector are expected to weigh on the prospects of Indian specialty chemical companies in 2023-24 (FY24). Stocks in the sector (down 7-18 per cent) have underperformed the benchmarks (up over 10 per cent) in the past three months, and given the multiple challenges, the trend is likely to continue. Kotak Institutional Equities expects a very weak quarter (Q1FY24) for the sector due to destocking, demand weakness across certain critical end-use industries, and price erosion amid intense competition from Chinese suppliers.
Jet has been operating on international routes since 2004, being the first private airline to do so in decades, after it launched a Chennai-Colombo service in March that year.
Patanjali, to a large extent, has penetrated the target group for its products. As a result, increasing the consumer base and revenue by 100 per cent in FY18 will be a stiff challenge.
Wankhede, whose interim protection from arrest in the Central Bureau of Investigation's case of extortion and bribery against him was on Thursday extended by the HC till June 23, in his rejoinder affidavit claimed the SET has 'twisted facts and labelled false allegations to jeopardise the career and character of honest officials'.
Listing of LIC will help bring in greater transparency, public participation and also deepen the equity market.
Culver Max Entertainment, formerly known as Sony Pictures Networks India (SPNI), has terminated merger agreements with Zee Entertainment, which could have otherwise created a USD 10 billion media enterprise in the country.
The Centre has cleared the entire GST compensation payable till date by releasing Rs 86,912 crore to states, the finance ministry said on Tuesday. Of this, Rs 25,000 crore is released from the GST compensation fund and the balance Rs 61,912 crore is being released by the Centre from its own resources pending collection of cess. Of the total compensation released, Rs 17,973 crore is towards April and May dues, Rs 21,322 crore towards February-March dues and Rs 47,617 crore is the balance of compensation payable up to January 2022.
The ED had attached Sai Resort NX, constructed over the land located at Gut no: 446, Murud in Ratnagiri's Dapoli, in January.
While the country's unemployment rate is falling, the quality of employment seems to have taken a hit. The pace of formalisation slowed in the five months of the current financial year (April-August) with more than half a million fewer formal jobs created in the period compared to the same period last year, according to data from the Employees' Provident Fund Organisation (EPFO). The payroll data showed that cumulatively 4.92 million new subscribers joined the social security organisation between April-August this year, compared to 5.51 million subscribers in the same period in the previous year, reflecting a 10.7 per cent decline in the number of new payrolls created.
The 21st Law Commission said the special status given to the entity of HUF was a 'so-called gift by the British', who could not comprehend the complex socioeconomic structure of Indian families. 'Now, this status is being used for the evasion of tax only,' it said.
Airfares in the country are set to rise, with IndiGo on Thursday introducing a fuel charge of up to Rs 1,000 based on a flight's distance, in response to the significant rise in aviation turbine fuel (ATF) prices in the last three months. The Indian aviation sector experiences its peak travel season between October and December. The inclusion of a fuel charge component in airfares is anticipated to have a sizable impact on IndiGo's passengers, according to experts.
The four 'gaushalas' or cow shelters will work on improving productivity of Indian cows up to 10 times
Since their highs in September, chemical stocks have underperformed the benchmarks and broader indices over the past month with larger players witnessing a 9-22 per cent fall during this period. Expectations of weak September quarter results amid high inventory, demand woes and weak realisations have led to the underperformance.
Gift Nifty will provide Indian investors cues on how domestic markets could react to global events.
Rapidly changing geo-political scenarios such as the ongoing Russia-Ukraine war have made a significant impact on cybersecurity. Despite their best efforts, cybersecurity teams of enterprises may not be able to plug all vulnerabilities, according to a report by Indusface, a software-as-a-service security firm.
In a first of its kind move, the Indian Railways Catering and Tourism Corporation (IRCTC), the ticket booking arm of the Indian Railways, is looking to monetise its bank of passenger data while conducting business with private and government companies. IRCTC has a large bank of data related to every online railway ticket ever generated as it is the country's only railway ticketing platform, an IRCTC official told Business Standard. The public sector undertaking, which has sought the services of a consultant to assist with the monetisation process, plans to raise Rs 1,000 crore through this exercise.
In a significant win for the Adani group, the Supreme Court on Wednesday refused to transfer the probe into allegations of stock price manipulation by the Indian corporate giant to a special investigation team or the CBI, saying market regulator SEBI was conducting a "comprehensive investigation" and its conduct "inspires confidence".
The NCMC facilitates convenient travel while integrating last-mile connectivity, a must in India's extensive landscape. It enables travellers to pay for a cross-section of needs, including toll tax, retail shopping, and withdrawing money.
'Both the DMK and ADMK are equally to blame.' 'When the question is violence against Dalits, they don't take measures to protect Dalits.'
Bank of Baroda (BoB) has made prudential provision of Rs 500 crore for exposure to Go First, which has sought bankruptcy protection after the National Company Law Tribunal (NCLT) admitted its plea for voluntary insolvency. Sanjiv Chadha, managing director and chief executive officer of BoB, said the bank identifies issues in advance and makes provisions if required. The Mumbai-based public sector lender has an exposure of Rs 1,300 crore to the troubled airline.
The high court further asked the Delhi Development Authority to state its stand on a batch of petitions challenging the action and also seeking a bar on the demolition till a fresh "demarcation report" is prepared.
Broken furniture, damaged computers and ransacked office rooms with documents strewn around greeted former Law Minister C Ve Shanmugam and AIADMK manager V Mahalingam who entered the party office.
The 47th GST Council meeting that is currently underway is slated to discuss a host of issues, including a mechanism for compensating states for revenue loss, tax rate tweaks in some items and relaxed registration norms for small online suppliers. Further, the meeting of the Council, chaired by the Union Finance Minister Nirmala Sitharaman and comprising state counterparts, will also clear levying the highest tax of 28 per cent on online games, casinos and horse racing, besides, measures to curb tax evasion, especially devising ways to tackle high-risk taxpayers in GST. "The meeting is being chaired by Hon'ble Union Minister of Finance @nsitharaman and many important decisions are expected to be taken at the meet," PIB Chandigarh tweeted.
India voted in favour of a resolution that condemns Israeli settlement activities in the Occupied Palestinian Territory.
Sri Lanka has slashed tariffs by up to 70 per cent on India goods such as cement, petroleum products and motorcycles under a bilateral trade deal.
After the draft data protection bill, the government is now all set to bring another key legislation -- Digital India Bill -- that will be made available for public consultation by the month-end, Minister of State for IT Rajeev Chandrasekhar said on Thursday. The Digital India Bill, which will replace the 22-year old Information Technology (IT) Act, will be contemporary and a modern piece of legislation, the Minister promised. The proposed bill, alongside the Digital Personal Data Protection (DPDP) Bill whose draft was released recently, will contribute to the evolving framework which is light on regulation, safeguards consumer rights and catalyses innovation, the minister said while speaking at CII Global Economic Policy Summit 2022.
China is also providing supertankers and insurance coverage to move Russian Urals crude to PRC ports, as Moscow seeks vessels for exports after a G-7 oil price cap restricted the use of Western cargo services and insurance.
The earnestness of the actors keep Kaala Paani from drowning, observes Deepa Gahlot.
With most states on board to raise revenue so that they do not have to depend on Centre for compensation, the GST Council at its meeting next month is likely to consider a proposal to do away with the 5 per cent slab by moving some goods of mass consumption to 3 per cent and the remaining to 8 per cent categories, sources said. Currently, GST is a four-tier structure of 5, 12, 18 and 28 per cent. Besides, gold and gold jewellery attract 3 per cent tax. In addition, there is an exempt list of items like unbranded and unpacked food items which do not attract the levy.
The GST Council in its next meeting may look at raising the lowest tax slab to 8 per cent, from 5 per cent, and prune the exemption list in the Goods and Services Tax regime as it looks to increase revenues and do away with states' dependence on Centre for compensation, sources said on Sunday. A panel of state finance ministers is likely to submit its report by this month end to the Council suggesting various steps to raise revenue, including hiking the lowest slab and rationalising the slab. Currently, GST is a four-tier structure attracting a tax rate of 5, 12, 18 and 28 per cent.
The All India Anna Dravida Munnetra Kazhagam headquarters in Chennai was sealed by authorities on Monday following violence and vandalism between supporters of rival leaders Edappady K Palaniswami (EPS) and O Panneerselvam (OPS) in and around the party office.
FIFA also announced a newly structured international calendar which its president Gianni Infantino said had been endorsed by the ECA.
'In terms of ticket sales, Hindi is at 50-60 per cent while the South markets are at 80-90 per cent of pre-pandemic levels.' The patchy performance of Hindi, the largest segment of the business is the nub of what is bothering Indian cinema.
'We want to make sustainability affordable.' 'We tell everyone, don't just recycle, Craste it!'
India's recent move to remove additional 'retaliatory' duty on eight products from the United States (US), including apples and walnuts, would not have any negative impact on the domestic producers, the government clarified, even as the issue threatened to snowball into a political slugfest between the ruling and Opposition parties. The move would, in fact, result in competition in the premium market segment, ensuring better quality at better prices for consumers, especially for apples, a senior government official said. "There were certain concerns that were being raised on the mutually agreed solution that has come in, more specific to seven-eight agriculture products where we had levied additional import duties in retaliation to the steel and aluminum measures (imposed by the US)," Peeyush Kumar, additional secretary in the commerce department, told reporters in a briefing.
The Organised Crime and Corruption Reporting Project (OCCRP) on Thursday trained its guns on the Adani Group, alleging hundreds of millions of dollars were invested in publicly traded group stocks through Mauritius-based 'opaque' investment funds managed by partners of promoter family, charges the conglomerate denied vehemently.
'Whichever company offers better incentives, the chemist would prefer it.'
Former Uttarakhand DGP Aloke B Lal on Tuesday said the hurry shown in the demolition of the resort in question in the Ankita Bhandari murder case must have destroyed crucial evidence.
In 2013, weeks after getting bail in a case of alleged cheating in Kerala, Amway India's then managing director, William Scott Pinckney, declared that the company was aiming to hit revenues of Rs 10,000 crore in India in a decade. Fast forward to 2021, and Milind Pant, Amway's global CEO, announced that the company has designated India as one among the top three markets for growth and investment (after US and China), and is now looking at hitting revenues of Rs 20,000 crore over the long term.
Wadia group-owned Go First will temporarily suspend flights on May 3 and 4 amid severe fund crunch, the airline's chief Kaushik Khona said on Tuesday.
