All stories by Sachin P Mampatta
Capex Crosses Rs 6 Trillion In December
Rediff.com10 Jan 2023'If private capex has to kick in, there should at least be 2-3 years of visibility.'
Gautam Adani's wealth up relative to India's GDP
Rediff.com27 Oct 2022Amid increasing volatility and recession fears looming over global markets that has led to the decline in wealth of a number of billionaires, Gautam Adani was the only one to buck the trend. The billionaire added $43.3 billion in net worth between Diwali 2021 (November 4) and this year's Diwali (October 24) according to Bloomberg data. He added more wealth than the gross domestic product (GDP)of more than a dozen Indian states.
Capex on new projects declines further in Q2
Rediff.com11 Oct 2022Expenditure on new projects slowed down for the second quarter in a row amid an uncertain global environment and higher borrowing costs. There were new projects worth a cumulative Rs 3.26 trillion in the July-September period, according to data provided by project tracker Centre for Monitoring Indian Economy (CMIE). This figure is much less than Rs 4.39 trillion in the June quarter (Q1FY23) and Rs 8.46 trillion in the March quarter (Q4FY22).
Explained: How India's crude import sources have changed over time
Rediff.com16 Sep 2022India's crude oil imports are coming in from a changing mix of countries, with the top three accounting for around 60 per cent of total imports. Russia emerged as the largest source of crude oil imports for India in June, as per the latest available data from the Organization of the Petroleum Exporting Countries (OPEC). The data which is released with a lag, showed that Russian imports accounted for 24 per cent of the total crude imports into the country.
Businessmen suicides outnumber farmers' for 2nd year in a row
Rediff.com31 Aug 2022The states recording the highest number of such deaths include Karnataka (14.3 per cent), Maharashtra (13.2 per cent), and Madhya Pradesh (11.3 per cent). Tamil Nadu (9.4 per cent) and Telangana (7.5 per cent) were the other two in the top five.
Rs 1 Trillion Freebies By State Govts
Rediff.com27 Aug 2022'The power sector accounts for much of the financial burden of state governments in India.'
When Rakesh Jhunjhunwala used to get Rs 60 as trainee CA
Rediff.com22 Aug 2022Nearly four decades ago, when Rakesh Jhunjhunwala was a young chartered accountant in training, he was paid a conveyance of Rs 60. Deductions would take away Rs 15 from this princely sum and he was left with Rs 45 by the time the allowance made its way to his hands. He would save as much as he could from this amount, so that he would have a small amount to spend when he met his friends on the weekend at Chicken Centre. This was an eatery popular with the young at the time, perhaps because food and drink were affordable even for those new to the workforce.
Foreign companies' interest in India fades, shows data
Rediff.com19 Aug 2022George Acland from Great Britain ran a coffee plantation in Sri Lanka and set up India's first jute mill in 1855. He raised capital and imported the machinery for the mill on the banks of the Hooghly in West Bengal. His company wasn't a great success, but his pioneering work paved the way for India to dominate the jute industry.
India Sees 8 Aviation Accidents Every Year
Rediff.com30 Jul 2022The number of serious incidents has more than doubled in the last seven years.
Investors pushing back more on top executive pay hikes
Rediff.com28 Jul 2022Investors are pushing back more often against companies' resolutions on what is paid out to top executives. In the first four months of financial year 2022-23 (FY23), there have already been five such rejections, according to shareholder voting data from tracker Adrian, a platform maintained by the proxy advisory firm Institutional Investor Advisory Services India (IiAS). Two of these have been at multiplex chain PVR and direct-to-home company Dish TV India.
Long-Short Funds Hold Fort In Turbulent Times
Rediff.com5 Jul 2022Most of the long-only funds are closed-ended. This means that investors have to lock in their money for a fixed period before they can take it back.
Private placements at lowest since 2014; total money raised down 23%
Rediff.com24 Jun 2022The total amount of money various entities have raised through the private placement route is at its lowest since 2014. They raised a total of Rs 1.96 trillion in the first five months of 2022, revealed the numbers from PRIME Database. It is down 23.4 per cent from the Rs 2.56 trillion raised in the corresponding period in 2021.
Retail investors put over Rs 2,000 cr in bankrupt firms, hoping for revival
Rediff.com10 May 2022Retail investors have put at least Rs 2,296 crore in listed companies facing proceedings under the Insolvency and Bankruptcy Code (IBC). A median such-company had 16,163 retail investors as shareholders many of whom apparently have bought a stake on the hope of making money if the firm revives. They own a fifth of the total stake in the companies under consideration. The analysis looked at 75 listed firms for whom shareholding data was available for March 2022.
Does Monsoon Impact Market Returns?
Rediff.com6 May 2022Many years during which monsoons were poor saw high returns, while normal or excess rainfall has also coincided with poor calendar year gains.
India's bond slump worse than others, issuance value down 10.1%
Rediff.com19 Apr 2022Indian issuers are borrowing lesser through bonds compared to their global peers. The total value of bond issuances was down 10.1 per cent on a rolling 4-quarter basis in March 2022, compared to a similar period in March 2019, shows an analysis of data from tracker Refinitiv, a London Stock Exchange Group (LSEG) business. The four quarters ended March 2019 marked the last full financial year before the pandemic took hold.
Why Are India's Rich Reluctant Givers?
Rediff.com8 Apr 2022A sudden surge in wealth because of stock market gains after the pandemic could be one of the factors behind the relatively lower share of philanthropy in total wealth.
MFs invest in more stocks amid volatility
Rediff.com29 Mar 2022Mutual funds (MFs) are investing in more stocks despite the recent volatility. The industry invested in 824 companies across the listed universe as of October, according to primemfdatabase.com. The S&P BSE Sensex hit its all-time high of 62,245 that month. The index has since corrected to 57,864, around 7 per cent below the peak.
Jail inmates-generated sales rival India's largest companies
Rediff.com27 Mar 2022Jail inmates produced goods generating gross sales worth Rs 223.4 crore in 2020, according to the government's annual Prison Statistics India report. The amount ranks at 496th place if compared with the latest net sales numbers of S&P BSE 500 companies, reports Sachin P Mampatta.
A big challenge to EPFO returns
Rediff.com18 Mar 2022There is widening gap between what the government's premier retirement fund makes on its investments and what it offers to employees. The Employees' Provident Fund Organisation (EPFO) makes the bulk of its investments in government-related securities. In other words, it lends to central and state governments and related entities. The interest it gets from these instruments is largely what it uses to pay interest to its subscribers.
Indians Invested $673.8 Million Abroad In 2021
Rediff.com15 Mar 2022Indians spent more on foreign investments during the past 12 months than they have since at least 2012.