India's industrial production growth slowed down for a fourth straight month in December to 0.4 per cent mainly due to a poor performance by the manufacturing sector. The manufacturing sector, which constitutes 77.63 per cent of the Index of Industrial Production (IIP), contracted by 0.1 per cent in December, according to the data released by the National Statistical Office (NSO) on Friday. In December 2021, the mining output rose by 2.6 per cent, and power generation increased by 2.8 per cent.
The intent to hire in the current quarter is likely to rise by 7 per cent over the previous three months if further lockdowns and workplace operating rules are not enforced, mainly driven by demand in healthcare, pharmaceuticals, educational services, ecommerce and technology start-ups and IT, according to a report. In fact, out of the 21 sectors reviewed, more than 8 sectors will witness a 9-11 per cent rise in their intent to hire in the current quarter, TeamLease Employment Outlook Report has revealed.
The intensity of power crisis this season has hit a new high with average coal stock dipping to less than eight days. The first of a pan-Indian series, based on a ground report, shows how the Manesar industrial hub is coping with the challenge. As the scorching heat wave and the lengthy power cuts intensify in Haryana, the usually bustling labour chowk of the Industrial Model Township (IMT) of Manesar wears a deserted look.
172 firms participated in the final placement process.
Tata Steel was the top loser in the Sensex pack, plunging over 8 per cent, followed by SBI, Dr Reddy's, Kotak Bank, Sun Pharma, Bajaj Auto and L&T. NSE Nifty declined 118.35 points or 0.71 per cent to 16,450.50.
'The Election Commission is in the process of updating electoral rolls.' 'Once that is done, the dates for elections will be announced by the ECI at an appropriate time.' 'What can be more democratic than this?'
The death toll climbed to 5,21,035 with 31 daily fatalities, the data updated at 8 am stated.
Three independent people with knowledge of the talks said the group had been selected in the first round and was now likely to make a formal bid.
'Bottomline, hairline and waistline -- you have to watch them always.'
Auto component makers in India are bracing for a tough time. High absenteeism among workers owing to Covid-19, shortages of critical parts, and temporary closures of plants by automobile manufacturers have thrown a spanner in the works for the Rs 3.2-trillion sector, which derives 60 per cent of its revenues from automobile original equipment manufacturers (OEMs), with the balance split equally between replacement demand and exports. Car market leader Maruti Suzuki India on Saturday said it was extending the maintenance shutdown, which was from May 1 to 9, till May 16, "keeping in view the current pandemic situation". Some activities will continue in the plants.
ITC was the top laggard in the Sensex pack, tanking over 6 per cent, followed by HUL, Titan, Tata Steel, UltraTech Cement and PowerGrid. On the other hand, Tech Mahindra, L&T, Infosys, Bajaj Finserv, Kotak Bank and HDFC Bank were among the gainers.
Eight infrastructure industries have posted a growth rate of 8 per cent for September on account of good performance by crude oil, steel and electricity sectors.
With the rise in interest rates, bond yields have been on the rise; this will dent banks' treasury profits. Also, many retail borrowers may find it difficult to service their loans when the loan rates rise, points out Tamal Bandyopadhyay.
India's exports in January rose 25.28 per cent to $34.50 billion on account of healthy performance by mainly engineering, petroleum and gems and jewellery sectors, even as trade deficit widened to 17.43 billion, according to data released by the commerce ministry on Tuesday. Imports grew by 23.54 per cent to $51.93 billion during the month under review. Trade deficit, difference between imports and exports, stood at $14.50 bn in January 2021.
The number of terrorist incidents in Jammu and Kashmir during a period of 841 days after Article 370 was revoked dipped to 496 from the 843 cases reported in a same span of time prior to the abrogation, the government informed Rajya Sabha on Wednesday.
'One can start accumulating economy driven stocks in the next few months with a two-three year view.'
A closer look at the sectors and companies that have strong prospects and are likely to fall less when markets decline.
'Politics is in a mess. Good people have to join to clean it up.'
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.
Thirty-two years after the project was sanctioned, the first indigenously-built Tejas Light Combat Aircraft was on Saturday handed over by Defence Minister Manohar Parrikar to the Indian Air Force, a red letter day for Indian defence and aerospace sector.
Tata Steel was the top loser in the Sensex pack, shedding over 2 per cent, followed by Sun Pharma, ICICI Bank, SBI, Kotak Bank and Dr Reddy's. NSE Nifty dropped 151.75 points to 15,727.90.
Maruti's sales of the compact segment comprising Swift, Estilo, Ritz, Dzire and Baleno went up by 9.9% to 45,579 units
After a recent fall in profit, Masayoshi Son of SoftBank announced that the Japanese tech investor will look at dramatic cost-cutting. Before he does that, investments in India for calendar year 2022 (CY22) will fall radically, observed sources in the know. Last year, the company had invested around $3.2-3.5 billion in the Indian start-up ecosystem - almost 10 per cent of the total investment the sector received. For CY22, the investments may not even touch $1 billion.
Equity indices failed to hold on to their gains in see-saw trade on Tuesday, ending in the red for the third straight session despite a tentative recovery in global equities. The rupee too bounced back from historic lows, but the overall sentiment remained risk-averse amid concerns over economic recovery in a high interest rate scenario. The 30-share BSE Sensex had a choppy start but gained momentum in mid-session trade. However, it succumbed to selling pressure towards the fag end to close 105.82 points or 0.19 per cent lower at 54,364.85. On similar lines, the broader NSE Nifty declined 61.80 points or 0.38 per cent to finish at 16,240.05.
Around 75 per cent, or 372 stocks, that are part of the BSE500 are trading at least 10 per cent below their all-time high levels, despite the index hitting a record high 20,515 points on the BSE in intra-day trade on Wednesday, surpassing its previous high of 20,390 touched in March 12. The index, which accounts for 93 per cent of BSE listed companies' market capitalisation, has gained 8 per cent from its recent low of 18,983, touched on April 19. In comparison, the benchmark S&P BSE Sensex gained 6 per cent over the same period, but is still nearly 4.5 per cent away from its all-time high of 52,517 that it hit on February 16.
Banks' gross non-performing assets (NPAs) and net NPAs are expected to rise to 10.1-10.6 per cent and 3.1-3.2 per cent, respectively by March 2021, Icra said on Monday. The agency also expects net NPA to decline to 2.4-2.6 per cent by March 2022. "As moratorium on loan repayments is over and though we await the Honourable Supreme Court directive on asset classification, the GNPAs and NNPAs for banks are likely to rise in near term to 10.1-10.6 per cent and 3.1-3.2 per cent, respectively by March 2021 from 7.9 per cent and 2.2 per cent, respectively as of September 2020," the rating agency said in a report.
Investments by private equity and venture capital funds declined by 22 per cent to $5.4 billion in June, as compared to the $6.9 billion in the year-ago period, a report said on Monday. However, if compared with May's $4 billion, the investments were higher by 33 per cent, the monthly report by industry lobby group IVCA and consultancy firm EY said. If one were to compare the inflows into companies in the first half of 2021, the investments were 45 per cent higher at $26.9 billion.
Though COVID-19 will wreak more damage to the finances of the Indian population, the insurance sector is unlikely to get hurt.
Trade deficit during the month narrowed to USD 14.54 billion from USD 15.3 billion in January 2020. It was USD 15.44 billion in December 2020.
The average salaries for vocational jobs have grown by 18% whereas engineering and MBA jobs rose only by 4% and 3% respectively.
Investments by private equity and venture capital funds doubled to a record high of $9.5 billion in July mainly driven by higher investor interest in the e-commerce sector, a report said on Monday. Private equity (PE) and venture capital (VC) investments stood at $4.1 billion in the year-ago period. The activity was higher by 77 per cent when compared to June's $5.4 billion, the report on monthly PE/VC investment activity by industry lobby IVCA and consultancy firm EY said.
Custom duties, a major concern for the oil sector.
Private equity firm Carlyle Group and associates will acquire a controlling stake of over 50 per cent in PNB Housing Finance by investing in the Rs 4,000 crore preferential issue of equity and warrants of the Delhi-based mortgage lender. After the proposed transactions, expected to be completed by January 1, 2022, Carlyle will also have the right to nominate the chairperson of PNB Housing Finance (PNB HF). This right will continue as long as it holds at least 40 per cent of the share capital on a fully diluted basis.
The apparel and engineering sectors have already witnessed the trend in the past one week. If this continues, it can have an impact on the overall export demand in the coming months, considering that Europe is the largest national export market for India.
In May, Satpal Singh, who runs a dairy business with three buffaloes in Jewar, near Noida, was worried about the steep spike in input costs. Singh said dry fodder rates, which cost Rs 1,500-2000 per tractor trolley last year, were quoting at Rs 4,500-5,000. The price of other cattle feed ingredients (that include mustard meal and similar mixes) had also gone up from Rs 2,000 per quintal to Rs 3,100-3,200 per quintal.
The government has deprived AAI of a sizeable and stable source of income.
China plans to build a new highway along the Line of Actual Control (LAC) with India as part of Beijing's efforts to strengthen its strategic position and project its power, a media report said on Wednesday.
The next quarter-century could mark India's rise as a nation to be more whole-heartedly admired if it addresses its institutional and policy failures, and focuses on reducing its inequalities and addressing its iniquities, asserts T N Ninan.
While the 6.5-km the Z-Morh tunnel is expected to be completed by next year, ahead of the target date of December 2023, the 14.15 km Zojila tunnel is also scheduled to be completed ahead of the target date of 2026, National Highways and Infrastructure Development Corporation Limited officials said.
As per the latest data released by Telecom Regulatory Authority of India (TRAI), Vodafone Idea -- born last year from the merger of older operators Vodafone India and Idea Cellular -- continues to be the largest operator with 38.75 crore consumers and 33.36 per cent market share in the wireless segment as on May 31, 2019.
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