A new report by Kotak Institutional Equities suggests that investors may be underestimating the threat posed by generic drugs to the ‘branded generics’ business of leading Indian pharmaceutical companies. The report highlights that current implied valuations of around 30-40x FY2025 EPS for most major pharma firms assume a relatively benign 10-11% growth in the Indian […]
As India prepares for its next general elections in mid-2024, the biggest question is whether Prime Minister Narendra Modi will secure a third consecutive term at the helm, or whether the new INDIA alliance will ride a way of anti-incumbency sentiments to power. According to recent research reports by prominent brokerage houses Jefferies and IIFL […]
Maruti Suzuki Ltd, India’s largest auto maker, reported robust numbers for August, as it consolidated its recently acquired status as India’s top SUV maker. The company’s total vehicle sales for August rose 14.5% on the year to 1.89 lakh vehicles, led by strong sales of SUVs. The automaker, which recently launched the much-awaited 4-wheel drive […]
A complete ban on sugar exports next year, as suggested by many news reports, is unlikely, said broker Systematix Institutional Equities in an update on Friday. It was commenting on media reports that the government may impose a ban on sugar exports in the year starting October 2023 to ensure that sugar prices remain sweet […]
Income Tax Department said it has revamped its website, soon after implementing mega changes to the income tax e-filing website, incometax.gov.in. The new website, which will be available on incometaxindia.gov.in, has been designed with a user-friendly interface, value-added features, and new modules, the Central Board of Direct Taxes said. “This website serves as a comprehensive […]
The Center has kept the quantum of rice to be procured in the current monsoon (Kharif) season at roughly the same as last year, while the quantum of millets to be procured has shown an increase. The Food Corporation of India (FCI) and state government agencies are preparing for the procurement of 521.27 lakh metric […]
As India prepares for its next general elections scheduled to be held in early 2024, all eyes are on Prime Minister Narendra Modi and whether he will secure a third consecutive term. Riding high on his continued popularity, Modi remains the frontrunner for 2024. However, he faces some emerging challenges that could complicate his re-election […]
The upcoming 2024 general elections in India have major implications for infrastructure, capital goods and construction sector stocks in the country. The infrastructure and housing segments are key areas that will likely see policy action and initiatives to support economic growth in the run-up to elections. Infrastructure Spending Push The ruling BJP is expected to […]
Honda Motorcycle & Scooter today launched what is perhaps among the most awaited motorcycle in the last several weeks — the 2023 model of the Honda Unicorn. Priced at around the 1.25 lakh mark, Honda Unicorn is arguably the most well-loved and respected ‘mass market’ motorcycle in the country, and has made a strong reputation […]
The three main state-owned oil refining and marketing companies have so far lost $2.25 bn (Rs 17,000 cr) due to the freeze on petrol and diesel price imposed by the government ahead of state elections in Uttar Pradesh, Punjab and Goa, according to a report by Moody’s. The rating agency pointed out that Indians are […]
The relentless selling of stocks by foreign institutional investors or FIIs is likely to ‘taper off’ by the end of the current month, according to an analysis of FII fund flows into India by Maximus Securities Research. “The FII selling is expected to taper off by end of March’22, After which we expect normal market […]
ICICI Bank is emerging as a strong challenger for long-time leader HDFC Bank in India’s credit card market, thanks to strong take-up for its co-branded card with Amazon, according to an analysis of RBI’s January numbers. ICICI Bank accounted for 2.41 lakh of the 13 lakh new credit cards added in January 2022. With this, […]
Info Edge Ltd, the parent of Naukri.com, has bought a 76% stake in dating app maker Aisle Network Pvt Ltd for Rs 91 cr. Aisle Network operates several dating websites, such as Aisle, Anbe, Arike and HeyDil, catering to various languages and states such as Malayalam, Hindi and Tamil. The company is based in HSR […]
Bharti Airtel, formerly India’s No.1 telecom operator, said it has acquired a 4.7% stake in India’s largest tower company Indus Towers from Britain’s Vodafone Plc. The company is likely to have paid around Rs 2,650 cr for the stake, going by the current valuation of the tower company. It said the money it pays to […]
Tata Motors, India’s second biggest automaker, is on track to set another monthly record in terms of passenger auto sales in February, even as market leader Maruti Suzuki will continue to see a year-on-year decline, according to Emkay Research. The third major listed automaker, Mahindra & Mahindra is also scheduled to report a strong February […]
As the country nears the two-year anniversary of COVID-19, strong demand for non-IT engineers, finance professionals and software developers is driving a recovery in hiring activity in India, according to numbers from recruitment website indeed.com Overall demand for workers, as reflected in the number of new job postings, are up 44% as of February this […]
AirAsia has launched its ‘FlyAhead’ service in India, allowing passengers to switch to an earlier flight by paying Rs 500-1,500 at the airport counter. “Guests who reach the airport six hours or more prior to their scheduled flight departure, can opt for the FlyAhead service at the AirAsia Airport Counter. Change fees, which are typically […]
Flipkart, one of India’s oldest e-commerce players, said it will sell the Middle East business of Cleartrip, acquired by the company last year, to local rival Wego as part of its strategy to focus on the Indian market. The financial details of the transaction were not revealed. Cleartrip, founded in 2006, is one of the […]
Godrej Properties, the real estate arm of the Godrej group, is all set to get a major infusion of cash in the form of a Rs 2,000 cr investment by parent Godrej Industries. The flagship company of the Godrej group said it has also decided to invest Rs 500 Godrej Agrovet Ltd, which makes cattle […]
Reserve Bank of India governor Shaktikanta Das today warned investors to exercise caution when investing in crypto-currencies. “I have made our position very clear on this. Private crypto currency or whatever you call it, is a very big threat to our macro-economic and financial stability. “RBI’s position is that private crypto-currencies will interfere with RBI’s […]
