Aviation turbine fuel accounts for 35-40 per cent of the total operating cost of an Indian airline.
No need for extra stimulus, India to hit around 8 pct growth: adviser
China's population growth has been slowing since 2016 as the high cost of raising children, a greater pursuit of individualism and a diversified lifestyle dampen enthusiasm to start a family.
India says it gives equal treatment to foreign companies on tax matters, not special consideration.
Finance Minister Nirmala Sitharaman on Wednesday announced Rs 3 lakh crore collateral free automatic loan for businesses, including MSMEs, to benefit 45 lakh small businesses. Detailing parts of the Rs 20 lakh crore economic stimulus package, she said this loan will have a 4-year tenure and will have 12-month moratorium, she said.
To take action against non-cooperative jurisdictions, including tax havens.
Finance Minister Pranab Mukherjee would also share his perception on exit strategy at the G-20 Finance Ministers' meeting in Scotland, starting from November 6.
The leaders from the US, UK, France, China and others reached a historic agreement to put the group at the centre of their efforts to build a roadmap for durable recovery, avoiding the financial fragilities that led to the crisis.
The Reserve Bank of India's governor said On Thursday that there is a cost to any further fiscal stimulus package as it would put pressure on credit markets. However, RBI Governor Duvvuri Subbarao did not elaborate further on what this additional cost would be.
The policy action plan being prepared for the new government does not see the immediate need for a fresh fiscal stimulus package, but recommends a new oil pricing formula and disinvestment of government equity in public sector undertakings in small doses.
'Historically, the markets tend to perform well during election years as governments aim to increase spending and call attention to growth.'
With commodity markets remaining soft and uncertain, it is likely the money will flow into equity markets with strong upsides, such as India.
Bharti Airtel was the biggest gainer in the Sensex pack, rising 2.37 per cent, followed by Mahindra & Mahindra, HCL Tech, Tata Motors, Tech Mahindra, HDFC Bank, Wipro, Tata Consultancy Services, Axis Bank and Nestle. Asian Paints, Hindustan Unilever, Bajaj Finserv and NTPC were among the laggards.
The Maharashtra cabinet on Thursday cleared a proposal that offers an option of availing the Old Pension Scheme (OPS) to the state government employees who joined the service after November 2005.
With this, fiscal deficit during April-October, 2009 has already reached over 61 per cent of the targeted level of over Rs 4 lakh crore (Rs 4 trillion) for the current fiscal. The government is projecting fiscal deficit of 6.8 per cent of GDP for the current fiscal.
If the real economy is indeed looking up, then it no longer needs hand-holding and fiscal laxity
The government is considering a fresh stimulus of around Rs 20,000 crore for manufacturing companies and non-banking finance companies routed through the Stressed Asset Stabilisation Fund (SASF) Trust that is currently mandated to deal with bad and doubtful debts of IDBI Bank.
Sitharaman has been announcing the tranches of the Rs 20 lakh crore package announced by Prime Minister Narendra Modi.
Some investors had speculated that the US central bank might put its plans on hold given the jitters overseas.
The general elections in April/May 2024 are expected to add volatility to the Indian markets, keeping investors on their toes.
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.
Only the top 5 per cent profit makers account for 75 per cent of profits.
The 30-share Sensex is up 253 points at 29,263 and the 50-share Nifty has gained 68 points at 8,829.
The new Samvat 2080 is viewed as a year of hope for industrial and precious metals. A key reason is the expectation of US interest rates peaking, followed by a reduction in the coming months. Regarding crude oil, its trajectory depends more on how the situation unfolds in West Asia.
Looking for Treasures From Mizoram to embrace through 2024 and beyond.
Metal and mining companies, such as Tata Steel, JSW Steel, Hindalco, and Coal India, have been among the top-performing sectors on the bourses in recent months. The S&P BSE Metal Index is up 13 per cent in the past three months, rallying 29 per cent in the past year, outperforming the broader market. For comparison, the benchmark S&P BSE Sensex has only seen a 1.7 per cent increase in the past three months, with a 15 per cent gain since the end of September last year.
Industrial metals (ferrous and non-ferrous) suffered great volatility once the Ukraine War began in February 2022. First, there was a sharp price rise due to fears of supply disruption, followed by weak global demand. China's weakness and rolling lockdowns have hit production and demand.
Announcement of macroeconmic data such as industrial production and inflation, the US Federal Reserve's interest rate decision along with trends in global equities would dictate movement in the stock market this week, analysts said. Besides, foreign fund trading activity would also guide the trends in equities. "All eyes are now on the US Fed policy outcome for cues, which is scheduled on June 14. In the following sessions, the European Central Bank (ECB) and Bank of Japan (BoJ) will also announce their policy decisions.
The NSE Nifty, comprising 50 shares, breached the 8,300-mark for the first time to hit a new lifetime high of 8,330.75.
'If all goes well, we may well hit or even surpass the forecast growth rate.'
'Markets could face uncertainty in the short to medium term.' 'It would be prudent to invest in alternative asset classes, especially debt, for about a year.' 'Bank fixed deposits are offering rates as high as 9 per cent per annum and these can be used as a great hedging tool until equity markets stabilise.'
An improvement in political relations, anchored in a restoration of peace and tranquillity at the border, could open up opportunities for expanded economic and commercial relations between them, suggests former foreign secretary Ambassador Shyam Saran.
'Narasimha Rao asked me why China was doing so well in attracting foreign investments and I gave my frank opinion.' 'I told him that giving thrust to exports had to be a national effort.' 'But in India, the system was very centralised in the Government of India and the state governments had no role to play.'
Indices across Indian equity markets have edged towards new record highs before undergoing a small correction in the past few sessions. The National Stock Exchange Nifty has gained 20 per cent in the past year; mid-caps (up 33 per cent), small-caps (up 31 per cent), and micro-caps (up 44 per cent) have done better. Several factors have precipitated this rally.
Tata Steel was the biggest gainer in the Sensex chart, rising 2.39 per cent, followed by Tata Motors, Power Grid, Reliance Industries, UltraTech Cement, NTPC, Nestle, HUL, Mahindra & Mahindra, Wipro, Kotak Mahindra Bank and Asian Paints. In contrast, Bajaj Finance, IndusInd Bank, Axis Bank, Bharti Airtel, Bajaj Finserv, ICICI Bank, Infosys and Titan were among the laggards.
In response the BRICS - Brazil, Russia, India, China and South Africa - have taken steps to strengthen cooperation such as setting up a joint development bank
'80% of the rural and urban population don't have enough purchasing power.'
The value of foreign portfolio investors' (FPI) holdings in the domestic equities reached $584 billion at the end of December 2022, which was 11 per cent lower from preceding year, according to a Morningstar report. This was largely on low return given by the Indian equities and exodus of foreign money from the domestic stock market. Going by the report, the value of FPIs investments in Indian equities dropped to $584 billion as of December 2022 as compared to $654 billion at the end of December 2021.
The vaccination drive was only one important part of India's globally recognised pandemic management and response strategy, observes Dr Vinod K Paul.
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