Equity and oil markets can breathe easy for now, as the developments in Russia are unlikely to trigger a runaway rally in crude oil prices, said analysts. India, which imports nearly 80 per cent of its crude oil requirement, has been dependent on cheap Russian oil over the past few months to keep inflation – a sore point for the equity markets – in check. For the Indian markets that are expected to remain volatile amid these developments, analysts believe, the progress of monsoon, fund flows – both foreign institutional investor (FII) and domestic – and the upcoming corporate earnings season back home remain key.
Posts tagged Rediff
Tax norms for charitable trusts get stricter (04-07-2023)
The income-tax (I-T) authorities have tightened disclosure norms for charitable trusts. They now have to declare the nature of their activities from October 1 for tax purposes. The Central Board of Direct Taxes (CBDT) has notified changes in reporting rules where the charitable institutions have to mention whether the activities undertaken are charitable, religious, or both to claim tax benefits.
Tina Ambani appears before ED in FEMA case (04-07-2023)
Tina Ambani, wife of Reliance ADA Group chairman Anil Ambani, on Tuesday appeared before the Enforcement Directorate (ED) in Mumbai for questioning and recording her statement in connection with an investigation linked to the alleged contravention of the foreign exchange law, official sources said. Anil Ambani had recorded his statement in the case on Monday under sections of the Foreign Exchange Management Act (FEMA) and he is expected to appear before the central agency again later this week for completion of the exercise.
‘El Nino impact an immediate concern to markets’ (04-07-2023)
‘Geopolitical risks and their impact on oil prices, if any, are another concern for global markets, particularly for India.’
Bull run continues; BSE, NSE close at record highs (04-07-2023)
Benchmark equity indices continued their record-shattering spree on Tuesday, with the Sensex and Nifty hitting their fresh all-time high levels in early trade, amid persistent foreign fund inflows. Also, buying in Bajaj Finance, Bajaj Finserv, Tata Consultancy Services and HDFC twins added to the positive market momentum. Rallying for the fifth straight session, the 30-share BSE Sensex jumped 381.55 points to hit its all-time peak of 65,586.60 in early trade.
‘Blockchain, algorithmic collusion challenges’ (04-07-2023)
‘Global coordination, convergence, market complexities and dynamics and cross-border enforcement compound the existing challenges we face.’
‘Blockchain, algorithmic collusion challenges’ (04-07-2023)
‘Global coordination, convergence, market complexities and dynamics and cross-border enforcement compound the existing challenges we face.’
Accenture’s guidance spells more trouble for IT sector (04-07-2023)
IT major Accenture’s second straight cut in its revenue growth forecast for FY23 suggests there is more pain ahead for the Indian IT sector, say analysts. Accenture has lowered the top end of its FY23 growth guidance in constant currency (CC) to 9 per cent from 10 per cent earlier. The firm, which follows a September-August fiscal cycle, expects a 2-6 per cent CC growth in Q4 of FY23 (June-August 2023) versus the 6-10 per cent prior guidance.
Accenture’s guidance spells more trouble for IT sector (04-07-2023)
IT major Accenture’s second straight cut in its revenue growth forecast for FY23 suggests there is more pain ahead for the Indian IT sector, say analysts. Accenture has lowered the top end of its FY23 growth guidance in constant currency (CC) to 9 per cent from 10 per cent earlier. The firm, which follows a September-August fiscal cycle, expects a 2-6 per cent CC growth in Q4 of FY23 (June-August 2023) versus the 6-10 per cent prior guidance.
Do top execs of PSBs need a pay overhaul? (04-07-2023)
In FY23, the State Bank of India (SBI) reported a 57.4 per cent jump in its net profit to Rs 55,684.17 crore. But the chairman of the country’s largest bank, Dinesh Khara’s annual pay for this creditable performance was just Rs 37 lakh (his peers at state-run banks are no better off). Look at his private bank rivals – most pocketed in excess of Rs 7 crore annually – plus stock options.