Acceleration in demand, together with marginal price hikes of about 2-3 per cent by cement companies in the October-December quarter (third quarter, or Q3) of 2022-23, may not be enough to cushion the impact of high input costs on the bottom line, reveal Bloomberg consensus estimates for the quarter. Year-on-year (YoY) net sales growth in Q3 will come in at nearly 7 per cent, shows Bloomberg data, while bottom-line growth will show a sharp decline of 25 per cent from a year ago. The earnings before interest, tax, depreciation, and amortisation (Ebitda) will likely decline by nearly 5 per cent versus a year ago, shows data.
The announcement was made after AICC general secretary Ajoy Kumar held a meeting with CPI-M state secretary Jitendra Choudhury on Friday evening.
Indian society may be more advanced than we think it is, notes Ajit Balakrishnan.
India's flagship payment platform, the Unified Payments Interface (UPI), ended the 2022 calendar year on a high note as the volume of transactions touched a record 7.82 billion in December, amounting to Rs 12.82 trillion, again a record high. Data released by the National Payments Corporation of India (NPCI), the umbrella body for retail digital payments in the country, showed volume of transactions in December was up 7.12 per cent compared to November, while value of transactions was up 7.73 per cent during the same period.
Stalin said one cannot and should not decide the mood of the entire country based on the results of one state elections.
'People trust India and Indians a lot more than they trust China and the Chinese.'
Delhi Lieutenant Governor V K Saxena has directed the chief secretary to recover Rs 97 crore from the Aam Aadmi Party for political advertisements it published in the guise of government advertisements, official sources said.
The regulatory burden is the highest on small cars, a key segment of the Indian automobile industry and having a uniform tax structure across all segments of vehicles will not augur well for the sector growth, according to Maruti Suzuki India chairman RC Bhargava. He also said India's economic growth rate could be higher if the manufacturing sector grows fast, which 'unfortunately' has remained a laggard despite the best efforts of the Narendra Modi-led government at the Centre due to implementation gaps at the ground level. "The burden of regulatory changes on the small cars is far higher than the regulatory burden on big cars and that is changing the whole market behaviour.
Instead of conceding the demand for a cut in personal income-tax rates, Finance Minister Nirmala Sitharaman should phase out many exemptions in both personal and corporation taxes, suggests A K Bhattacharya.
From the 70th minute when striker Niclas Fuellkrug was thrown into the battle, Germany simply looked more German.
The letter shared with the media on Saturday comes amid Maharashtra losing several big-ticket projects to neighbouring Gujarat.
Rossouw determined to continue his roller-coaster ride
It is now becoming increasingly clear that rising imports have played a significant role in sustaining the buoyancy in revenues from GST, notes A K Bhattacharya.
Driven by inflows into Systematic Investment Plans (SIPs), the mutual fund industry's total assets under management rose to Rs 39.88 lakh crore in September from Rs 36.73 lakh crore in the year-ago period. On a monthly basis, the Assets Under Management (AUM) increased marginally from Rs 39.33 lakh crore in August. According to the latest monthly data from the Association of Mutual Funds in India (Amfi) released on Monday, the industry wide net AUM stood at Rs 38.42 lakh crore in September.
The growth in world trade is expected to slow down to one per cent in 2023, due to global uncertainties, according to a WTO forecast. The World Trade Organization (WTO) has also projected a growth of 3.5 per cent in global trade this year, as against the April estimate of 3 per cent. World trade is expected to lose momentum in the second half of 2022 and remain subdued in 2023, as multiple shocks weigh on the global economy, the multi-lateral body has said in a statement.
The Indian team would be desperate to move on from the Mankading incident and focus on the Asia Cup.
'He is fielding like a panther and his batting is brilliant.'
Surplus liquidity in the banking system as measured by absorption of excess funds by the Reserve Bank of India (RBI) fell sharply at the end of the last week due to outflows on account of advance tax payments. According to the RBI data, the net liquidity absorbed by the central bank on September 16 was at Rs 3,243.57 crore, much lower than the average of Rs 56,809.92 crore in the preceding four days of the week. The average absorption of funds by the RBI so far in September is at Rs 1.13 trillion, against the average of Rs 1.2 trillion in the previous month, the data showed.
The RJD leader said the coming to power of the Mahagathbandhan government with the JD-U, the RJD, the Congress and other parties uniting "augurs well for opposition unity".
Prime Minister Narendra Modi on Monday hailed the diversity of India and said that while our talent may be restricted by language barriers, pride should be taken in the variety of languages that exist in the country.
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 poll panel also referred to the reported strong oral observations of the top court against it during the last hearing on the PIL on the issue, saying they have "caused irreparable damage to the reputation of this institution built over the years".
Modi also congratulated individual members of the Indian contingent who won board medals. "These are outstanding players who have shown remarkable grit and tenacity. Best wishes for their future endeavours," he said.
Lower crude oil prices and a rally in domestic equities restricted the losses to some extent, forex dealers said. At the interbank foreign exchange market, the domestic currency opened weak at 79.50 per dollar.
Amid a brewing political storm in Bihar, the opposition Rashtriya Janata Dal on Monday said it was ready to "embrace" Chief Minister Nitish Kumar and his Janata Dal-United if he broke ranks with the Bharatiya Janata Party.
Images from the English Premier League matches played on Saturday.
The RBI on Friday retained inflation forecast for FY23 at 6.7 per cent amid uncertain price trajectory on "geopolitical shocks" and on hope that inflationary pressures would ease with pick-up in kharif sowing and supply chain improvements. In its previous monetary policy review in June, it had projected retail inflation for 2022-23 at 6.7 per cent, higher from 5.7 per cent forecast in April. The six-member Monetary Policy Committee (MPC) unanimously decided to raise the benchmark repo rate by a steep 50 basis points to 5.40 per cent with immediate effect to tame inflation while supporting growth.
India is poised to be the fastest-growing major economy in the world and an engine of global growth despite global headwinds, says leading industrialist and Aditya Birla Group Chairman Kumar Mangalam Birla. The economic activity in India has witnessed a sharp recovery to pre-pandemic levels on the back of a rapid and widespread rollout of the vaccination programme, Birla said in the latest annual report of UltraTech Cement Ltd. "A strong digital ecosystem, fiscal and monetary policy and various government schemes helped small and medium enterprises and the worst affected sections of the population to survive while reviving demand and bringing the economy back on track," said Birla while addressing UltraTech's shareholders.
Droupadi Murmu scripted history on Thursday by becoming India's first tribal President in the one-sided contest, defeating Opposition candidate Yashwant Sinha.
Prime Minister Narendra Modi on Thursday expressed confidence that Droupadi Murmu will make an "outstanding" President and said India has scripted history with a daughter from a tribal community being elected to the top post.
P V Sindhu hopes to continue her rich vein of form in upcoming events, including the Birmingham Commonwealth Games, after winning the Singapore Open on Sunday.
Australia are on the cusp of a series victory in Sri Lanka and captain Pat Cummins believes the exposure to sub-continental conditions augurs well for their next big target of winning a Test series in India next year.
'They don't want anybody to stand up and support the vulnerable sections of society who may be targeted.'
'When we look at the quality of our retail loan book, the non-performing asset percentage is low.'
A lot of grey areas are yet to be addressed, but a young Indian team, with an admirable collective temperament, will start as favourites in the series-deciding fifth T20 International against South Africa, in Bengaluru, on Sunday.
A day after the Reserve Bank of India's (RBI's) Monetary Policy Committee hiked the policy repo rate by 50 basis points (bps), several commercial banks, including ICICI Bank and Bank of Baroda, raised their external benchmark-linked loan rates by an equal amount on Thursday. HDFC, the country's largest mortgage lender, too, increased its interest rates on housing loans by another 50 bps. In total, it has raised rates by 85 bps since May 4, when the RBI had increased the repo rate by 40 bps in an off-cycle meeting.
Argentina marked the revival of the Cup of Champions in style as an inspired Lionel Messi helped them outclass Italy 3-0 in a heavyweight clash billed as the 'Finalissima' at a raucous Wembley Stadium in London on Wednesday.
The Bharatiya Janata Party's key ally in Tamil Nadu, the All India Anna Dravida Munnetra Kazhagam on Wednesday slammed the saffron party alleging that it is anti-Tamil and claimed that the party could never grow in the state.
Delhi Capitals still reported COVID-19 cases in their camp but the tournament chugged along.
'I will look to come back better in the next season'
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