The minister further cited that the IMF's global growth forecasts of 3.4% in 2016 and 3.6% in 2017 were still very strong.
Onion prices have increased 150% over the last few months
PSU bank shares were the top gainers on hopes of a rate by the RBI on easing consumer inflation
India's role as a leader of the global south may require it to give up its ambition to serve as a bridge between the warring halves of the international community, points out Mihir S Sharma.
Infosys, Wipro and HUL among the top losers for the day.
The country's largest carmaker Maruti Suzuki India (MSI) on Monday reported a 11.8 per cent increase in wholesales to 164,469 units in February. The company had sold 147,110 units in February last year, Maruti Suzuki India (MSI) said in a statement. Domestic sales increased 11.8 per cent to 1,52,983 units last month, as against 1,36,849 units in February 2020, it added.
Brokers said a flurry of buying by investors in blue-chips mainly influenced the sentiment.
The 30-share Sensex ended down 90 points at 19,429 after hitting an intra-day low of 19,398 and the 50-share Nifty ended down 40 points at 5,881 after touching an intra-day low of 5,871.
They are worried at more than one forecast of a possibly weak monsoon, reports Dilip Kumar Jha.
In an apparent reference to political differences between Bharatiya Janata Party and Trinamool Congress, Jaitley said there are national causes to stand together, notwithstanding political differences.
The Competition Commission has approved Reliance's proposed acquisition of retail, wholesale, logistics and warehousing businesses of Future Group. The Rs 24,713 crore deal that would boost Reliance Industries' fast growing retail business was announced in August. In a tweet on Friday, the regulator said it has approved "acquisition of retail, wholesale, logistics & warehousing businesses of Future Group by Reliance Retail Ventures Limited and Reliance Retail and Fashion Lifestyle Limited".
The government on Tuesday imposed restrictions on sugar exports from June 1, a move aimed at increasing availability of the commodity in the domestic market and curbing price rise. "Export of sugar (raw, refined and white sugar) is placed under restricted category from June 1, 2022 onwards," the Directorate General of Foreign Trade (DGFT) said in a notification. However, it said that these restrictions would not be applicable on sugar being exported to the EU and the US under CXL and TRQ. A specified amount of sugar is exported to these regions under CLX and TRQ.
Starting with a family, which had a dealership of Bajaj Auto's scooters, to becoming the owner of a household name in consumer appliances who could afford to have Bollywood superstar Shah Rukh Khan as the brand ambassador, Venugopal Dhoot's is a story of an aggressive small town businessman's pursuit to be on the top. Now arrested in connection with the ICICI Bank loan fraud case, Venugopal Dhoot during his heydays was not the one to simply sit on small achievements like Videocon becoming the largest television set manufacturer in India.
Notwithstanding lower growth rates recorded in the first quarter (Q1) of 2023-24 (FY24), which spanned from April to June, footwear stocks have seen some gains in the past two trading sessions. Bata India saw an increase of approximately 5 per cent, driven by positive expectations surrounding a potential tie-up in the sports/athleisure segment. This development is viewed favourably due to the segment's higher growth rates.
Onion output dropped to 189.2 lakh tonnes in 2014-15 crop year due to poor rains
Mandeep Punia was arrested from the Singhu border on Sunday for allegedly misbehaving with the police personnel on duty at the farmers' protest site there, officials said.
An overwhelming proportion of the unemployed declare their nature of occupation as students. In the quarter ended December 2021, 77% of the unemployed who were actively looking for jobs were students. This syncs well with another data, that 77% of the unemployed are between 15 and 24 years of age, reveals Mahesh Vyas.
Although Walmart-Flipkart wholesale game-plan is to target about a $150 billion market out of a total pie of $700 billion in the country, the consolidation marks the end of the multi-brand dream of the American retail giant.
Since he lives locally, Harish Patel is one of the luckier migrant workers in Surat - in that his employer was able to squeeze in a single shift for him at the weaving unit in Kamrej in Gujarat - unlike others who went home for Holi and other festivals just as the second wave of the Covid-19 pandemic was waxing and ended up stranded in local lockdowns.
The Republic Day tractor parade by agitating farmers will feature a number of tableaux from across states depicting village life, the protest against the Centre's contentious farm laws, and hailing their courage, according to organisers.
As many as 49 players including Reliance Retail, Jindal Power Ltd and Adani group have submitted Expression of Interest (EoI) for acquiring the assets of debt-ridden Future Retail, which is currently going through insolvency resolution process. Reliance Retail Ventures Ltd, which is the holding company for retail operations of RIL and April Moon Retail Private Ltd, a joint venture between Adani Airport holdings and Flemingo group have again submitted their EOI, after the lenders of Future Retail decided to invite fresh bids after dividing FRL's assets into clusters. According to an update from FRL's Resolution Professional, the 49 players would be permitted to submit "resolution plan(s) for any/all such Clusters under Option II".
Although China still faces the threat of new outbreaks due to local community transmissions or from imported cases, the country's capability to contain the COVID-19 has been honed, thanks to its experience in battling the virus for months.
From the 30-share pack, Infosys, Tech Mahindra, TCS, HDFC, HDFC Bank, Wipro and HCL Technologies were among the major laggards in early trade. Nifty tumbled 314.95 points to 17,160.70.
Since a Supreme Court-appointed panel on farm laws is likely to hold its first meeting on January 19, the meeting on Friday between with the government and the unions may be the last one.
According to them, these marches were a "rehearsal" for their proposed January 26 "Kisan Parade" to the national capital from different parts of Haryana, Punjab and Uttar Pradesh.
The upbeat earnings from Reliance Industries will set the tone for the truncated week ahead
Farmers reported a massive crop damage in transit in addition to huge quantity of the potato left unharvested due to mud in the field.
Farmer leaders said unions do not allow any political party to use their stage and accused the government of diverting the issue.
The agriculture ministry also reiterated it is ready to find a "logical solution" to the issues raised by protesting farmer unions.
HDFC Bank, the country's largest private-sector lender, lost to competition wholesale loans of around Rs 50,000 crore after it increased interest rates in May, said Chief Financial Officer Srinivasan Vaidyanathan in an analyst call. "There were some customers who were offered lower rates by other market participants. "But we decided not to cut back on our rates," he said while addressing analysts after the announcement of the bank's Q1 earnings.
China has reported 66 new coronavirus cases, the largest since the disease was controlled in its first epicentre Wuhan in April, prompting the authorities to go into a 'wartime' mode to stem the spread of COVID-19 in the capital Beijing which has seen a sudden spike in the number of infections, health officials said on Sunday.
To prevent hoarding and check price rise, the Centre on Friday imposed stock limits on all pulses, except moong, held by wholesalers, retailers, importers and millers till October. The stock limits are imposed with immediate effect. An order in this regard has been issued by the Union food and consumer affairs ministry. Retail prices of pulses rose by more than 20 per cent during the January-June period of this year, according to the ministry's data.
Forgot the major events that shaped the news last week? Here's a quick recap of the incidents of the previous week.
With satisfactory progress of monsoon rainfalls prompting farmers to bring in additional area under basmati sowing, prices are set to fall lower going forward.
While Reliance put up a good show, NTPC nosedived on the BSE on Monday.
The question is: Will the company have a strong balance sheet to support this massive investment plan?
'I am not scared of corona, I am sure God is protecting us.'
Costlier vegetables slowly pushed retail inflation, which had remained well within the Reserve Bank's comfortable level of 4 per cent during most part of 2019, peaked to more than three-year high of 5.54 per cent in November.
The government has no plans to import wheat as it has sufficient stocks to meet the country's requirements, official sources said. The Food Corporation of India (FCI) has enough stock for public distribution, they added. "There are no plans to import wheat into India. "The country has sufficient stocks to meet our domestic requirements," a source said.
Leading carmakers Maruti Suzuki and Hyundai witnessed a double-digit drop in sales in October on account of the global semiconductor shortage impacting production. Kia India, Honda Cars and MG Motor also saw a fall in dispatches last month as compared with October 2020. However, companies like Tata Motors, Mahindra, Nissan and Skoda managed to post positive numbers last month despite the supply chain challenges.
