'Market feels this Budget will promote all-round growth and that is what is giving it confidence.'
Reliance Industries on Friday reported a 41.5 per cent jump in its third quarter net profit as oil, retail and telecom businesses fired on all cylinders. Net profit of Rs 18,549 crore in October-December compared with Rs 13,101 crore a year back, the company said in a stock exchange filing. Income from operations rose to Rs 1.91 lakh crore from Rs 1.28 lakh crore.
However, Cipla was very clear it does not want to get into vaccine manufacturing.
The severity of the second wave of COVID-19 infections in India poses a key challenge for the FMCG industry and the spread of the virus to rural areas on a relatively higher scale as compared to the first wave is also expected to weigh on industry growth outlook, according to ITC Ltd. There is heightened uncertainty around the timing and shape of the recovery trajectory of overall economic growth in India due to the virus, the company said in its Annual Report for 2020-21. In terms of consumption, urban-led recovery may be relatively muted compared to the first wave as consumers switch to precautionary savings mode and rising healthcare costs eat into household spending, while rural demand may also be blunted by the large-scale spread of the virus to the hinterland in the second wave.
Jhunjhunwala holds a stake in more than 30 listed firms.
E-commerce firms Amazon, Flipkart, and others are expected to witness blockbuster festival season sales of around $9 billion this year, surpassing pre-pandemic sales of $5 billion in 2019. The pandemic has accelerated the shift to e-commerce, with more consumers shopping online at a higher frequency than last year, observed analysts. This year's festival sales (gross merchandise value or GMV) are expected to grow 30 per cent year-on-year (YoY) to $4.8 billion during the first week of the season and potentially clock over $9-billion GMV during the whole festival month, revealed consulting firm RedSeer's e-commerce festival season report.
Further relaxation in aircraft capacity deployment coupled with festive season air travel demand helped recovery in the domestic traffic with passenger volume seeing 22 per cent sequential growth in the previous month, ratings agency ICRA said on Wednesday. ICRA also said that the November domestic passenger traffic was close to 50 per cent of the domestic air travel demand in November 2019. The recovery in international passenger traffic, however, is likely to further get delayed in the wake of fresh travel curbs by select countries following the detection of a new virus strain in the UK, it said.
Formula One leader Max Verstappen passed Mercedes rival Lewis Hamilton on the penultimate lap to win a tense French Grand Prix for Red Bull on Sunday and canter 12 points clear at the top.
'Q1 is going to bear the brunt of the second wave, exposing full-year GDP forecasts to downward revisions, unless phase-3 of vaccination is executed quickly.'
Kragh Andersen claimed his second audacious solo stage win of the Tour de France on Friday with a perfectly timed attack late in the 19th stage
Disgraced cyclist Lance Armstrong has asked a US judge to decide a more than $100 million lawsuit against him by the federal government without holding a jury trial.
Crude oil prices have more than doubled, pushing up India's import bill and raising fears of a higher current account and fiscal deficit. This will impact corporate earnings.
Shaili Singh announced her arrival on the big stage by winning a silver in the Under-20 World Athletics Championships, missing out on a historic gold by a mere 1 cm with a 6.59m effort, in the long jump final in Nairobi on Sunday.
Through the IPO, Burger King has raised Rs 450 crore, which will be used to rollout new outlets and retire debt.
The competition which BigBasket faces now is with the big three - Amazon, Walmart, and Reliance.
'While the country has been hit hard from a strong second wave of Covid, we believe the markets are willing to look through that.'
While small-caps have delivered higher returns than their large-cap peers, investors would do well to recognise the incremental risk of investing in these companies.
A federal judge said on Monday he likely will allow a lawsuit to move forward accusing cyclist Lance Armstrong and his business partners of defrauding the U.S. Postal Service of endorsement money through Armstrong's use of performance-enhancing drugs.
'It is going to be a buyers' market and you will get a good number of companies at reasonable valuations and that's when one has to be very greedy.'
Everyday consumerables, such as grocery and order-in food items are the key buyout sector, analysts say, and a major reason for kirana stores' digitisation push.
The markets have been unable to sustain at higher levels as a rise in bond yields globally, especially in the US have dented sentiment. Surging commodity prices, especially crude oil that have now hit $70 a barrel (Brent) coupled with inflation woes and fear of sporadic lockdown across major economic hubs back home as Covid cases rise have chased the bulls away. In the short-term, analysts expect the markets to remain volatile as they react to news flow - both from overseas and developments back home. Investors, they say, need to keep a tab on how the US treasury yields move, which in turn will have a ripple effect on how big money moves across developed (DMs) and emerging markets (EMs), including India.
There is positive correlation between crude oil prices and Indian equities and investors can expect more upside after the recent rally in Brent crude price.
A weak economy coupled with rising Covid-19 cases and inflation that is above RBI's comfort zone, geopolitical developments, and upcoming India Inc's second quarter results for FY21 could impact sentiment, analysts say.
My candidate for the best general of the last century hailed from a little, poor colonised Asian nation whose impact on world affairs rarely amounted to much, notes Shankar Acharya.
Reliance's big-bang entry across the solar ecosystem will cut dependence on Chinese imports drastically. And Ambani's repeated emphasis that RIL's new energy foray will be 'a truly global business' points that his group is playing not just for a share of the Indian pie but to be the OEM in the larger 5,000 GW global market by 2030, points out Shailesh Dobhal.
There seems to be no dearth of funds to fuel this growth, report Peerzada Abrar and Shivani Shinde.
The benchmark indices have rallied 28 per cent this year, while the broader market has outperformed
Backed by China's Tencent and Prosus NV, Swiggy has around 8,000 employees.
The pole was the 91st of Lewis Hamilton's career and seventh at Silverstone.
Second-tier NBFC stocks are trading at 24.4x their trailing earnings, which is nearly twice their 15-year average of 13.9x
The county's largest IT company TCS on Friday reported a 7.2 per cent jump in December quarter net to Rs 8,701 crore on a consolidated basis, and seemed to suggest the worst is behind by projecting double-digit revenue growth for FY22. The company, a cash cow for Tata Sons, saw a 5.4 per cent growth in revenue at Rs 42,015 crore for the quarter. Operating profit margin came in at 26.6 per cent despite implementing wage hikes, after consistently missing the 26-28 per cent aspirational band for many quarters.
Not surprisingly, equity investors are bidding-up stock prices across sectors and the broader market is now more valuable than pre-Covid levels.
India must diversify its services trade away from low-cost programming if it is to remain an IT-enabled hub.
India is aiming for a material acceleration in growth, with targets of 6.1-6.7 per cent in the current fiscal 2013-14, over 7 per cent in FY 2015.
After a positive opening, the 30-share BSE Sensex suddenly faced selling pressure in late-afternoon trade. It finally settled just 5.67 points, or 0.01 per cent, lower at 39,586.41.
Some are treating the price correction as akin to a fiscal stimulus that could kick-start a new demand cycle in the economy.
Disgraced cyclist Lance Armstrong on Thursday was sued by a company that paid him about $12 million for three of his seven Tour de France wins that have since been stripped from him for his use of banned drugs.
$47.6 bn capital invested across 921 deals in India in 2020, despite pandemic.
'We airlifted army personnel wearing lungis to generally unused landing grounds.' 'We were told to keep quiet about what we did or saw.'
The rally was led by IT stocks, with TCS and Infosys rising up to 5 per cent. Yes Bank, on the other hand, was the biggest loser on both the bourses, cracking nearly 12 per cent
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