India is expected to clock a growth rate of 7.2 percent in the current financial year, up from 6.7 percent in 2017-18.
The target, which is the same as for the current financial year, includes proceeds from the expected privatisation of loss-making national carrier Air India, and the sale of an insurer to be created by the merger of three state-owned firms, the sources said.
The growth is expected to come from healthy volume growth in two-wheelers, commercial vehicles and tractor segment until November last year.
Uttaresh Venkateshwaran is in conversation with Ravi Krishnan, Deputy Executive Editor, Moneycontrol, to discuss the feasibility of income support schemes as an alternative to loan waivers.
The 10-year government bond yield ended 5 basis points higher at 7.82 percent. It had breached the psychological barrier of 8 percent in the second week of June
The government breached its fiscal deficit target of 3.2 percent of GDP, but managed to meet its revised target of 3.5 percent for FY18.
After Thursday’s policy, the market pricing for hikes in this calendar year could start to recede for the moment and the 10-year yield could trade in the range of ~7-7.40 percent for H1 FY2019
Ensuring price stability through monetary policy and current account deficit at sustainable levels have enabled us the build-up of “buffers” against unforeseen shocks, according to Reserve Bank of India Governor Urjit Patel.
The company, which offers a combination of 40 handpicked emerging brands from Europe and the markets it operates in, plans to open 4-5 outlets in metros in India in the first year of operation.
As per the latest data available with the Securities and Exchange Board of India (Sebi), capital garnered by the listed companies through the Qualified Institutional Placement (QIP) route stood at Rs 36,653 crore in the first six months of 2017-18.
A number of telecom operators have either merged or are in process of merging with large operators. Some of the companies have exited from telecom companies by selling their spectrum to Bharti Airtel.
"Considering the data explosion in India... to accelerate our 4G roll out in terms of coverage and also build additional capacities in existing geographies..our capex forecast for the year is being upped from initial guidance of Rs 20,000 crore to Rs 25,000 crore," Bharti Airtel Chief Financial Officer Nilanjan Roy said during earnings call.
Bira 91, owned by B9 Beverages, began operations in February 2015 and expects to close this fiscal with sales of Rs 180 crore.
India's economic growth slipped to a three-year low of 5.7 per cent in April-June, underscoring the disruptions caused by uncertainty related to the GST rollout amid slowdown in manufacturing activities.
The ports, under the administrative control of the Centre, handled 265.30 MT cargo in the same period last fiscal.
The routine sources of support are likely to wane this year - dividends from the central bank and other public sector banks/entities, divestment receipts and proceeds from telecom spectrum auctions, noted the DBS in its daily market report.
In comparison, foreign portfolio investors (FPIs) bought equities worth 21,000 crore during the period under review.
Mumbai-based Godrej Properties Ltd (GPL), the realty arm of the Godrej Group, achieved its best ever quarterly sales in housing segment at Rs 1,472 crore in the quarter ended June. The commercial segment contributed only Rs 2 crore to overall sales bookings, according to its investor presentation.
The company, which sells utility vehicles ranging from compact KUV100 to XUV500, also has plans to introduce a new electric vehicle in the next two years.
Allahabad Bank was looking to achieve a business growth of 12.23 per cent in the current financial year.
"The impact of the demonetisation of high-value banknotes is dissipating as the replacement banknotes enter circulation. Stronger consumption and fiscal reforms are also expected to improve business confidence and investment prospects in the country," said the Asian Development Outlook, ADB's flagship economic publication.
"However, with concerted efforts, we have managed to buck the trend since 2012 and achieved a positive growth for the year 2016-17," Railway Board Member (Traffic) Mohammad Jamshed told PTI.
Managing Director and Chief Executive Officer of the bank P Jayarama Bhat highlighted its performance during the financial year 2016-17 and rolled out the business agenda for the new fiscal. As on March 31, 2017, the bank has 2,145 service outlets comprising of 765 branches and 1,380 ATMs across the country.
The two-wheeler manufacturer had sold 51,320 units in March 2016, Eicher Motors said in a statement.
State-run NTPC Group has registered a growth of 4.67 per cent in power generation at 251.036 billion units (BUs) in April-February this fiscal compared to year-ago period.