Billionaire Mukesh Ambani’s Reliance Industries Ltd climbed eight spots to the 45th rank, the highest for an Indian company on Forbes’ latest Global 2000 list of public companies worldwide.
Posts tagged Rediff
PV wholesales rise 13.54% in May at 334,247 units (13-06-2023)
Domestic passenger vehicle wholesales grew by 13.54 per cent in May to 3,34,247 units, as compared to the same month last year, the Society of Indian Automobile Manufacturers said on Tuesday. As per the latest data issued by the Society of Indian Automobile Manufacturers (SIAM), dispatches of passenger vehicles (PVs) from manufacturers to dealers were at 2,94,392 units in May 2022. Two-wheeler domestic wholesales were at 14,71,550 units, as against 12,53,187 units in May last year, a growth of 17.42 per cent.
Indian markets have limited upside in the near-term (13-06-2023)
Indian equity markets have a limited upside potential in the near-term as they negotiate the ensuing cyclical slowdown, wrote analysts at Nomura in a recent coauthored report led by Saion Mukherjee, their managing director and head of equity research for India. He, however, believes that the foundations are in place for sustainable growth over the medium-to-long term, and hence suggests a ‘buy on dips’ strategy to equity investors. As an investment strategy, Nomura prefers domestic-oriented sectors and companies over exporters, and prefers stocks that provide valuation comfort. Industrials and banks are their overweight sectors, while IT services and consumer discretionary are their underweight sectors.
Over half of NSE 500 stocks deliver 10x return (13-06-2023)
Over half, or 269 NSE 500 stocks, have given over 10-fold (10x) returns in the last two decades, finds a recent report by Goldman Sachs that analysed 10 major markets across emerging and developed markets (EM/DM) that covered 6,700 stocks. The report examined ’10-baggers’ – stocks that have generated at least 10x total returns within a rolling 5-year period over the past two decades. Some of the prominent ones that comprise these 269 stocks in the Indian context stocks that delivered over 10x total returns over a 5-year rolling period since 2000 as per Goldman Sachs includes Westlife Foodworld, Bharti Airtel, Adani Total Gas, Patanjali Foods, Larsen and Toubro, BEML, Blue Star, Shree Cement, Lupin, Godrej Industries, Astral, Adani Enterprises, Hindustan Petroleum and Deepak Fertilisers.
Tea: every year Darjeeling finds a way to become worse (13-06-2023)
The tea industry’s cup of woes brimmeth – scanty rainfall and pest attacks have dragged down production in May, prices are lower than last year, and demand from some export markets is muted. Production in North Bengal – comprising the Dooars, Terai, and Darjeeling – is majorly affected; parts of Assam are also hit. Arijit Raha, secretary general, Indian Tea Association (ITA), said that the Tea Board numbers for April show a crop loss of about 9 per cent for North Bengal, compared to last year.
Why I Have Not Sold Adani Stock (13-06-2023)
‘If there is any reason to change my holding in Adani group stocks, the Hindenburg report on the group is not the one.’
Which 5 States Lag Behind India’s GDP? (13-06-2023)
Economies of Punjab, Andhra Pradesh, Madhya Pradesh, Uttarakhand and Haryana may have grown at a slower pace than the national economy during 2022-2023.
No directorial positions for Zee Ent’s Goenka, Chandra (12-06-2023)
Markets regulator Sebi on Monday barred Essel Group chairman Subhash Chandra and Zee Entertainment Enterprises Ltd (ZEEL) MD and CEO Punit Goenka from holding the position of a director or key managerial personnel in any listed company for siphoning off funds of the media firm. The case pertains to Chandra, who was also the chairman of ZEEL during the alleged violation, and Goenka having abused their position as directors or KMPs of a listed company for siphoning off funds for their own benefit. In its interim order, Sebi noted that Chandra and Goenka alienated the assets of ZEEL and other listed companies of Essel Group for the benefit of associate entities, which are owned and controlled by them.
Retail inflation dips to over 2-year low of 4.25% (12-06-2023)
Retail inflation declined to a 25-month low of 4.25 per cent in May mainly on account of softening prices of food and fuel items, with experts saying that RBI is expected to hold interest rates steady in the current fiscal. This is the fourth straight month when retail inflation has declined and the third straight month of Consumer Price Index (CPI) based inflation remaining within the RBI’s comfort zone of below 6 per cent. CPI-based inflation stood at 4.7 per cent in April and 7.04 per cent in May 2022.
NPS or EPFO returns, which retirement fund is ahead? (12-06-2023)
If you work for 30 years, a two per cent difference in pension returns can reduce your final retirement nest egg by 40 per cent. The Rs 9-trillion National Pension System (NPS) seems to be delivering incrementally higher returns than the twice-as-large Employees’ Provident Fund Organisation (EPFO), shows a Business Standard analysis of data over the last seven years for the two retirement fund bodies. An investor who put in Rs 100 in retirement savings seven years ago would have seen her NPS nest egg grow to Rs 182 by 2023, according to the analysis based on the Pension Fund Regulatory and Development Authority’s recently released Handbook of National Pension System Statistics 2023.