The finance ministry will soon set up an internal working group to redraw the country’s fiscal consolidation road map following the sharp slippage caused by the Covid-19 pandemic. A new legislation based on this group’s recommendation may be introduced in the monsoon session of parliament, a senior government official told ET. “An internal group may … Read more
Compared with last two Budgets, which were record-breaking in terms of duration, this first-ever paperless Budget was precise and purposeful. No wonder, the stock market reaction has been ‘like never before’, with Nifty closing nearly five per cent higher. In a rare contraction year for the Indian economy, having witnessed de-growth only twice previously, the … Read more
The ongoing key reforms such as sops for manufacturing, easier labour laws, wooing FDI inflows and privatisation will help improve productivity and support long-term growth at 7.5-8 per cent levels, which if played out well, can help India contribute 15 per cent of global GDP growth by FY2026, says a report. According to a report … Read more
MUMBAI: GE Power India’s shares have been caught in a downward spiral in the past week after its parent’s decision to exit the thermal power business, prompting sharp analyst downgrades. The stock, which dropped 10% to Rs205.40 on Friday, has plunged 47% in the past five trading sessions.During the investors’ call on October 23, GE … Read more
The management has said that performance in the coming quarter and demand for the festival will continue to depend on the pandemic situation. Synopsis While a robust liquidity situation and resilient business model will keep the stock’s downside, the upside, too, seems to be capped in the near term given the slow business momentum. ET … Read more
ET Intelligence Group: Infosys was the third IT exporter to demonstrate a solid demand recovery in the second quarter similar to its peers Tata Consultancy Services (TCS) and Wipro. However, unlike them, it was able to report 3.2% year-on-year growth in revenue at $ 3,312 million reflecting a stronger momentum. The other two recorded a … Read more
MUMBAI: India Ratings and Research on Thursday said a third of the mid and emerging corporates (MEC) having turnover of under Rs 750 crore rated by it could be ineligible for restructuring loans despite being “vulnerable”. A weak cash flow recovery and stretched liquidity among such corporates which are rated below BBB can result in … Read more
The momentum in the stock may continue given the sustained revival in the auto volumes. Synopsis The Bengaluru headquartered auto supplier derives 82% of revenue from the sales of cables used in park brake, clutch, and starter and the remaining from halogen bulbs. ET Intelligence Group: The stock of Suprajit Engineering has gained 25% in … Read more