Author: adler

Newly discovered documents have revealed the first telegraph messages and joy when England was linked for the first time with India on 23 June, 1870.

“There is a leadership vacuum in the company, because they made the wrong choice of CEO three years ago and that is playing out right now.”

“Now there is a stage three and stage four of digitisation, we will take a call on this only after taking all things into account.”

Directives from the Centre have to be executed at the state level. So, there are many things that are not in Modi’s hands, says Raamdeo Agrawal.

“It is the collective wisdom of the marketplace that there is action and we will move with speed. That improves the confidence level of industry.”

Despite a number of hits and misses, the quarterly earnings season is displaying inherent strength of the Indian economy amid fears of a global recession. Aided by impressive credit growth, improving asset quality and rising margins, the Q2 numbers of banks have been encouraging while IT results have been on expected lines with decent growth.

The quota reserved for qualified institutional buyers (QIBs) was subscribed 8.71 times while the one reserved for non-institutional investors (NIIs), employees and retailers was subscribed 1.6 times, 2.93 times and 59%, respectively.

Following the announcement, shares of Patanjali Foods, which was earlier known as Ruchi Soya and eventually re-branded following the acquisition by Baba Ramdev-led Patanjali Ayurved, were trading 0.6 per cent higher at Rs 1,351 at 1 pm. The stock has rallied nearly 60 per cent year-to-date.

Analysts have cautioned that economic slowdown and a recession looming in the US and Europe will hit the margins of India’s software exporters hard. But the sharp depreciation in the rupee is now acting as a tailwind for the sector.

Another domestic brokerage firm Nirmal Bang Institutional Equities has cut its revenue and EBITDA estimates for the next three fiscals due to near-term slowdown in growth, owing to cost inflation and volume decline in the US.