RBI Governor Shaktikanta Das said on Friday, “India’s GDP to contract by 9.5 per cent in FY21.” The governor made the statement while addressing media at the end of the three-day meeting of the newly-constituted Monetary Policy Committee (MPC). He added, however, that given the current momentum if some sectors show signs of recovery which … Read more
Pharma companies are expected to maintain the growth momentum with companies such as Cipla and Dr Reddy’s gaining from the sale of drugs meant for Covid treatment. Synopsis According to the ET Intelligence Group’s estimates, aggregate net profit of the Nifty 50 companies is likely to grow by 30.4 per cent compared with a drop … Read more
New Delhi: Consumer Electronics maker Ajanta-Orpat Group is expecting a flat growth in its revenue at Rs 1,250 crore in the current fiscal due to the COVID-19 impact. The company, which saw dismal sales in the first quarter of the current fiscal due to the nationwide lockdown, is counting on the upcoming festive season to … Read more
Image copyright Getty Images There is more evidence suggesting the growth in coronavirus cases could be levelling off in England and Wales. Data from three different analyses show new infections may be rising more slowly than in previous weeks – but it’s still too early to confirm. It comes after a large, up-to-date study found … Read more
Image copyright Reuters The growth in cases of coronavirus may be slowing down, the largest study of the infection in England suggests. A team at Imperial College London analysed samples from 84,000 people chosen at random from across the country. They said the R number, the virus’s reproduction number, appears to have fallen since measures … Read more
The sharper-than-expected 23.9% decline in june quarter gdp suggests recovery could take a while and fy21 may see a steeper contraction than earlier estimated. India will need to grow at 8% over the remaining three quarters just to make up the deficit and avoid a full-year contraction. A look at the numbers: Source link
By Vildana Hajric and Lu Wang In trying to explain the most baffling fact of 2020’s topsy-turvy markets, how tech valuations have swollen to bubble-era extremes even as a pandemic rages, people cite two things. Federal Reserve largesse, and hopes the coronavirus will be quickly contained. But another, slightly scarier theory exists as to how … Read more