The successful launch of Aditya-L1 – the country’s maiden mission to study the Sun – is expected to garner increased investor interest in the Indian space sector and trigger more funding for private players. Several private sector players, including Larsen and Toubro (L and T), MTAR Technologies, and Ananth Technologies, have played a pivotal role in the Indian Space Research Organisation’s (Isro’s) solar observatory mission. Aditya-L1 on Saturday set off on a 125-day journey on a PSLV-C57 rocket, in its attempt to study various elements relating to the nearest star from the halo orbit around Lagrange point 1 (L1) of the Sun-Earth system, which is about 1.5 million km from Earth.
Posts tagged Rediff
The take-off and crash-landing of Jet’s Naresh Goyal (04-09-2023)
In a dramatic turn of events in May 2019, an Emirates aircraft en-route to Dubai was asked to stop while it was taxiing for a take off in Mumbai. The pilot was given no reason and ordered to immediately return to the parking bay. As the aircraft returned to the terminal, two passengers from the first class – Naresh Goyal and his wife Anita – were offloaded by the immigration authorities, who said the duo cannot leave the country. Goyal, founder of Jet Airways, was stunned. The man, who ruled the aviation sector for two and a half decades with an iron hand, did not expect to be offloaded in this fashion.
Crop protection companies to reap bumper Q2 harvest (04-09-2023)
After being underweight on domestic agrochemical companies and preferring global plays, brokerages believe that the former may perform better in the quarters ahead. Domestic crop protection companies have faced multiple headwinds over the past year and a half, given high inventory costs, pricing pressures, lower realisations in the generic segment, increased stocks due to lower infestations, and demand-led hits to volumes. Some of the overhang from previous quarters was reflected in the April-June quarter (first quarter, or Q1) of 2023-24 (FY24) as well, with aggregate revenues and operating profit for the sector down 12 per cent and 27 per cent, respectively.
Wipro bets on Capco, Cloud, AI to power BFSI revenue (04-09-2023)
Wipro is betting on artificial intelligence (AI) and Cloud computing to earn more from its biggest contributor – the banking, financial services and insurance (BFSI) sector – which brought in 35 per cent of the revenue in FY23. The Bengaluru-headquartered firm also expects its consultancy arm Capco to aid in its vision. “Over the past few years, we have made significant investments in the BFSI sector and have improved our talent, capabilities, and processes in this space – both through organic investments and with the addition of Capco,” Suzanne Dann, Wipro’s chief executive officer for Americas 2 said.
Higher govt spending likely to help ease liquidity (04-09-2023)
The liquidity in the banking system could ease in the coming week due to an increase in government spending – a development that would be the key for the Reserve Bank of India (RBI) to decide whether to extend the incremental cash reserve ratio (I-CRR) mandate for banks. There are signs of improvement in the liquidity scenario as banks parked Rs 25, 833 crore with the RBI on Thursday. Market participants expect liquidity to gradually improve by the end of the month or during the first week of September, aided by government spending.
6 firms raise Rs 4,269 cr through IPOs in Aug alone (04-09-2023)
Notwithstanding the ongoing decline in equity markets week after week, August has proven to be the most successful since December for initial public offerings (IPOs). In August of this year, six companies have collectively raised approximately Rs 4,269 crore through IPOs.
Expect Tax Refunds Now In 10 Days (04-09-2023)
Almost all verification and assessments of returns selected for scrutiny are being done electronically through an anonymous back office, manned by tax experts and officials, without any personal interface between taxpayers and officers.
High inflation trends may dig deeper hole for FMCG (03-09-2023)
Renewed inflationary pressures, led by a spike in prices of vegetables and cereals, have cast a spell on the equity markets in the past month. The BSE Sensex and Nifty50 have declined up to 2 per cent each during the period, clipping the 13 per cent rally from the March lows, shows data from ACE Equity. Investors typically consider shares of fast-moving consumer goods (FMCG) companies as defensive bets, putting their weight behind them in a falling market.
Investors may want to bottom fish in stocks of OMCs (03-09-2023)
Margins for the oil refining and retailing sector have moved off their peaks, and the average integrated margins (refining plus marketing) for oil marketing companies (OMCs) have normalised. The ascent in crude oil prices, combined with static retail prices, has depressed marketing margins for diesel and petrol. However, the fall in marketing margins has been offset by increased gross refining margins (GRMs).
Investors may want to bottom fish in stocks of OMCs (03-09-2023)
Margins for the oil refining and retailing sector have moved off their peaks, and the average integrated margins (refining plus marketing) for oil marketing companies (OMCs) have normalised. The ascent in crude oil prices, combined with static retail prices, has depressed marketing margins for diesel and petrol. However, the fall in marketing margins has been offset by increased gross refining margins (GRMs).