Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

New Delhi, <keyword id="9003972" type="COMPANY" weightage="20" keywordseo="the-finance-industry-development-council">The Finance Industry Development Council</keyword> (FIDC), an industry body of asset and loan financing NBFCs has written to <keyword id="102024" type="COMPANY" weightage="20" keywordseo="The-Reserve-Bank-of-India">the Reserve Bank of India</keyword> (RBI) seeking implementation of the proposed guidelines for <keyword id="1874148" type="UNKNOWN" weightage="20" keywordseo="Dividend-distribution">dividend distribution</keyword> by NBFCs with effect from April 1, 2021. As per the draft circular released by the RBI, the guidelines would be applicable for dividend to be declared for the <keyword id="426914" type="PERSON" weightage="20" keywordseo="current-financial-year">current financial year</keyword> beginning April 1, 2020. In a letter to the RBI, the industry body said: "The Draft Circular is proposed to take effect from the financial year beginning April 1, 2020 which would in effect impact the declaration of dividend for the current financial year as well in which interim dividend may already have been declared - this will be akin to giving retrospective effect to the guidelines and hence the request should be for the guidelines to take effect only from April 1, 2021, i.e. for dividend from financial year 2021-2022 onwards." It further said that for preference shares which have already been issued with a certain promised rate of dividend, the proposed guidelines could in effect bar the Systemically Important Non-Deposit taking <keyword id="153220" type="COMPANY" weightage="20" keywordseo="non-banking-financial-company">Non-Banking Financial Company</keyword> (NBFC-ND-SI) from making payment of the same despite having sufficient distributable profits in terms of the Act. All such existing instruments should be grandfathered, FIDC said. It also told the central bank that the circular should be explicitly limited to dividend on only equity shares. Companies often issue redeemable preference shares carrying fixed rates of dividend which need to be treated differently. "Without prejudice to this suggestion, furthermore, we have to state that under Section 47 (Voting Rights) of the Act, failure to pay dividend for a period of two years or more gives preference shareholders voting rights at par with equity shareholders." According to FIDC, if the proposed guidelines under the draft circular are introduced, such a situation could be triggered despite the NBFC-ND-SI having distributable profits available for honouring the promised preference share dividend. The Act should be amended as a pre-cursor to the draft circular to ensure that the voting rights would not trigger if the non-payment of the preference share dividend for a period of two years or more is due to the RBI stipulation, it added, among other recommendations. The RBI released the draft circular for dividend distribution by NBFCs on December 9. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/mrs-bectors-food-ipo-investors-saw-their-money-double-on-listing-day/articleshow/79934860.cms">Mrs Bector’s Food IPO investors saw their money double on listing day</a> <a href="https://www.businessinsider.in/thelife/personalities/news/from-taking-on-yahoo-to-being-tamed-by-chinas-communist-party-its-been-a-roller-coaster-decade-for-jack-ma/slidelist/79935613.cms">From taking on Yahoo to being tamed by China’s Communist Party— it’s been a roller coaster decade for Jack Ma</a> <a href="https://www.businessinsider.in/careers/news/ey-is-looking-to-hire-9000-techies-in-2021-to-boost-its-digital-services/articleshow/79936576.cms">EY is looking to hire 9,000 techies in 2021 to boost its digital services</a>

'Dividend payout norms for NBFCs should come into effect from FY22'

Mumbai, As the <keyword id="444236" type="PERSON" weightage="20" keywordseo="Indian-equity-market">Indian equity market</keyword> bucked the pandemic-induced slowdown and surged to new highs in the <keyword id="426914" type="PERSON" weightage="20" keywordseo="current-financial-year">current financial year</keyword>, an <keyword id="7442614" type="UNKNOWN" weightage="20" keywordseo="ICICI-Securities-report">ICICI Securities report</keyword> said that 24 stocks have contributed over 75 per cent to the movement of <keyword id="1435368" type="PERSON" weightage="20" keywordseo="BSE-100-index">BSE-100 index</keyword>. The report noted that although the bulk of the equity market performance since <keyword id="2259305" type="PERSON" weightage="20" keywordseo="FY17">FY17</keyword> has been driven by a handful of stocks while the broader indices have underperformed, significantly, the recent rally is becoming broad-based for the first time since FY17. "The tide is turning in terms of the number of stocks contributing to majority of the Index performance (&gt;75 per cent of BSE 100 index movement) at 24 stocks, which is the highest over the past four years," it said. Small-cap and mid-cap indices have also outperformed large-caps for the first time since FY17. The report noted that anatomy of FY21 market rally indicates four <keyword id="10404818" type="UNKNOWN" weightage="20" keywordseo="distinct-phases">distinct phases</keyword> where high level of sector and style rotation has been observed. Activity in Phases II and IV indicates that the rally is becoming broad-based, it added. Normalisation of economic activity continues, but second wave of Covid poses near-term challenges even with hopes of vaccine turning into reality, said the report. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/what-is-pm-wani-public-wifi-platform-launched-by-union-cabinet/articleshow/79642267.cms">Government’s plan for public Wi-Fi lets anyone from the kirana store owner to tea shop stalls sign up to provide the internet</a> <a href="https://www.businessinsider.in/business/corporates/news/the-33-billion-itc-one-of-indias-most-trolled-stock-in-recent-weeks-seems-to-have-turned-a-corner/articleshow/79641456.cms">The $33 billion ITC, one of India’s most-trolled stock in recent weeks, seems to have turned a corner</a>

Market rally widens, 24 stocks underpin most of BSE-100's FY21 performance

<keyword id="722976" type="PERSON" weightage="20" keywordseo="commercial-vehicle-manufacturers">Commercial vehicle manufacturers</keyword> are expected to incur a <keyword id="9796264" type="UNKNOWN" weightage="20" keywordseo="massive-net-loss">massive net loss</keyword> to the tune of Rs 6,000 crore in the <keyword id="426914" type="PERSON" weightage="20" keywordseo="current-financial-year">current financial year</keyword>, with the volume likely to touch its lowest point in a decade after two consecutive years of high de-growth, <keyword id="516599" type="PERSON" weightage="20" keywordseo="Ratings-agency-Crisil">Ratings agency Crisil</keyword> said on Thursday. In the April-June period of financial year 2021, as per data, the total CV (commercial vehicle) sale in the country stood at 31,636, a decline of 85 per cent year-on-year as the country remained in the Coronavirus-induced lockdown for most part of the June quarter and, most of the trade and business activities coming to a temporary halt. A 30 per cent decline in sales volume on an already weak base would lead to a nearly six-fold increase in a net loss to Rs 6,000 crore for commercial vehicle (CV) makers this fiscal, <keyword id="183985" type="PERSON" weightage="20" keywordseo="CRISIL-Ratings">Crisil Ratings</keyword> said in the release. "Two consecutive years of high de-growth are likely to result in CV volume reaching its lowest point in 10 years. With utilisation down to a third, high fixed costs would dent the profitability of CV makers, " said <keyword id="94933" type="PERSON" weightage="20" keywordseo="Manish-Gupta">Manish Gupta</keyword>, Senior Director, Crisil Ratings. Last time, in 2009-10, the total commercial vehicle sale in the country had clocked 5,33,000 units. Noting that commercial vehicles are a critical logistical link to the economy, it said a quick recovery in sales volume is critical as a slower rebound can elongate the pain for manufacturers. According to Crisil, the CV makers were already hit by new overloading norms and a slowing economy when the COVID-19 pandemic arrived, and sales volume had fallen 29 per cent in the fiscal year ended March 2020. In the first quarter of this fiscal, volume plunged another 85 per cent because of the pandemic-driven lockdown, it said. "The resultant sharp slowdown in industrial activity has hard-braked sales of medium and heavy commercial vehicles (MHCVs), which account for two-thirds of the industry revenue. Sales of light commercial vehicles (LCVs) may fare better with support from the rural economy and private consumption," Crisil stated. Noting that the situation could constrain credit metrics in the current fiscal, the ratings agency said that the credit profiles of manufacturers will be supported by strong balance sheets and comfortable cash buffers Moreover, manufacturers may partly absorb BS-VI upgrade costs in their quest to stimulate demand. That could drive down segment operating margins to near-zero from an already low 6 per cent in fiscal 2020, and increase losses, said Gupta. Cash flows may stretch further as manufacturers will tend to support key stakeholders to reduce stress across the value chain and help them rebound next fiscal - such as by providing dealers leeway on payment terms and making timely payments to auto-component suppliers, Crisil said. However, that would temporarily increase the working capital requirements and raise the industry's debt by almost a third to Rs 40,000 crore this fiscal, it said. Consequently, credit metrics of the sector would be constrained, but credit profiles will be supported by strong balance sheets and expectation of a bounce-back next fiscal, it added. "The pandemic struck when the industry's gearing was 0.5 times - a shade lower than the year before the previous downturn in 2014. Despite the rise, we expect the gearing to be comfortable at 0.7 times by the end of the current fiscal. "Besides, manufacturers also have comfortable cash liquidity of nearly two times debt servicing needs," said Naveen Vaidyanathan, Associate Director, Crisil Ratings, According to Crisil while rising debt and weak profitability may constrain interest cover to nearly 1.5 times this fiscal from an average 7.1 times in the past five years, the number should recover next year with sales volume. The recovery is predicated on an expected pick-up in both industrial activity and private consumption, said the release adding commercial vehicles are a critical logistical link to the economy and hence sales volume is likely to bounce back next fiscal to reach almost fiscal 2020 level. That would substantially pull up the profitability of manufacturers, reverse the working capital stretch and restore credit metrics, it said. IAS SHW SHW

Commercial vehicle makers to incur ₹6,000 crore net loss this fiscal, says Crisil

Mumbai, Jan 24 () The country's fiscal deficit for 2019-20 is expected to widen to 3.8 per cent and the upcoming Budget may set a target of 3.5 per cent for 2020-21, a report said on Friday.
 The first full-year Budget of the current government, to be presented on February 1, will focus on reviving consumption demand through base-level income tax cuts, interest subvention for small and medium businesses and housing, Bank of America Securities said.
 A correction in consumption demand is cited as a major reason for a dip in economic growth to a decadal low of 5 per cent.
 As calls to revive the growth momentum increase, all eyes are set on Finance Minister Nirmala Sitharaman's strategy on fiscal deficit, as tightening of the gap may not help in the aim.
 "We continue to believe that expansionary counter-cyclical fiscal policy is the need of the hour. We expect the finance minister to target higher fiscal deficits of 3.8 per cent of GDP (up from 3.3 per cent budgeted) in FY20 and 3.5 per cent in FY21," analysts at the American brokerage said.
 It added that the sharp corporate tax cut announced last year will result in a recurring 0.8 per cent sacrifice for the next two years but added that the government has room as per the N K Singh committee report, and also pointed to the long-term fiscal deficit being at 4.5 per cent.
 On the income tax front, there could be a cut at the lower-income group levels to push consumption, while small businesses may be offered a 2 per cent interest subvention on all their borrowings, it said.
 The subvention is necessary to compensate the troubled segment from the 0.85 per cent increase in real lending rates since March, it said adding that the cost of the 2 per cent subvention will come at Rs 21,100 crore or 0.1 per cent of GDP.
 There can also be an announcement of an interest subvention for homebuyers for the first year to rekindle the sagging realty demand, it said. AA HRS

Fiscal deficit may widen to 3.8 pc for current financial year: Report

Mumbai, Apr 24 () CARE Ratings on Friday said the country's GDP growth is likely to decline to 1.1 per cent in the current financial year 2020-21 due to the coronavirus pandemic. The domestic rating agency added that the estimate has a "downward bias", saying predicting the recovery is very difficult at present. Since the outbreak of the crisis, which has seen the country being put under a 40-day lockdown, watchers have been warning about a heavy toll on the economy, with some analysts also expecting the GDP to contract in 2020-21. "We are expecting GDP growth to be 1.1-1.2 per cent in FY21 with a downward bias," CARE Ratings said in a note. The note also said that currently, the agency is not sure when the pandemic will subside or end and what would be the wider ramifications of the same. However, it said agriculture and government sectors will statistically provide an upward thrust to the economy, which will have many other sectors under pressure. Mining and quarrying, manufacturing and construction sectors will contract during this financial year, it said adding that financial services, real estate and professional services will have a muted growth of 0.5 per cent. Demand will be low in the economy and the employment front will be "challenging", it said. Investment, which has been slow for the past few years, will be subdued as there is surplus capacity and government attention will be more on relief than capital expenditure measures, it said. The private sector will focus more on completing projects than going in for new ones and the foreign trade will be depressed given recessionary conditions in most countries, the agency said. It said the restrictions on the movement of non-essential commodities imposed by the states will ensure that the country will not be able to achieve the GST collection target of Rs 1 lakh per month. AA HRS

COVID-19 pandemic: CARE Ratings expects GDP growth at 1.1 pc in current financial year

<keyword id="30351" type="CITY" weightage="80" keywordseo="BSNL">BSNL</keyword> is looking to invest Rs 830 Crores for improving services in Odisha and half of that will be dedicated to its broadband network in the current financial year, <keyword id="6354776" type="COMPANY" weightage="80" keywordseo="Telecom">Telecom</keyword> Minister Ravi Shankar Prasad said today. 
 While inaugurating the <keyword id="596793" type="UNKNOWN" weightage="80" keywordseo="Wi-Fi-hotspot">Wi-Fi hotspot</keyword> zone created by BSNL at Lord Jagannath Temple, Prasad said, "During the current financial year a project outlay of Rs 830 crore has been earmarked for BSNL Odisha for various projects including the Rs 400 crores earmarked for NOFN (National Optical Fibre Network)." 
 
The current launch is part of the government’s plans to provide Wi-Fi services at historical sites. The company will provide free 100mbps Wi-Fi service for 30 minutes every 24 hours, limited to three times in a month, which visitors can use in multiple sessions. 
 
(Image credit: Indiatimes)

BSNL launches Wi-Fi zone in Puri,
will invest Rs 830 Crores in Odisha

New Delhi, Feb 1 () The government will borrow Rs 5.36 lakh crore from the market in 2020-21, marginally higher than the Rs 4.99 lakh crore estimated for the current financial year ending March 2020.
 According to the Revised Estimate, the net borrowing for the current financial year was raised to Rs 4.99 lakh crore as against the Budget Estimate of Rs 4.48 lakh crore.
 The gross borrowing would be Rs 7.8 lakh crore for the next financial year as compared to Rs 7.1 lakh crore estimated for the current financial year.
 Gross borrowing includes repayments of past loans.
 Repayment for past loans in the next financial year has been pegged at Rs 2.35 lakh crore.
 Presenting Budget for 2020-21, Finance Minister Nirmala Sitharaman said, "Net market borrowings for the year 2019-20 would be Rs 4.99 lakh crore and for the year 2020-21, it would be Rs 5.36 lakh crore."
 "A good part of the borrowings for the financial year 2020-21 would go towards capital expenditure of the government that has been scaled up by more than 21 per cent.
 "As I had previously mentioned another about Rs 22,000 crore have been allocated for equity to fund certain specified infrastructure finance companies, who would leverage it manifold and provide much-needed long-term finance to the infrastructure sector. That should spur growth impulses in the economy," she said.
 The government raises funds from the market to fund its fiscal deficit through dated securities and treasury bills.
 The government has pegged fiscal deficit at 3.5 per cent from the next financial year, down from 3.8 per cent of the GDP for the current financial year.
 The government had earlier estimated the fiscal deficit to be 3.3 per cent of the GDP for the current fiscal but due to revenue shortage, it had to increase it and utilise the 'escape clause' in the Fiscal Responsibility and Budget Management (FRBM) Act.
 The 'escape clause' allows the government to breach its fiscal deficit target by 0.5 percentage points at times of severe stress in the economy, including periods of structural change and those when growth falls sharply. DP CS HRS

Govt pegs net market borrowing at Rs 5.36 lakh crore for FY21

New Delhi, Nov 19 () The government on Tuesday categorically stated that it does not intend to revise its fiscal deficit target of 3.3 per cent of gross domestic product (GDP) for the current financial year notwithstanding slowdown in economic activities.
 "No sir," Minister of State for Finance Anurag Thakur said in a written reply in the Rajya Sabha to a query if the government intends to revise fiscal deficit in view of the economic slowdown
 The minister further said expenditure of various ministries and departments of the government is as per the estimates approved by Parliament.
 In the first half of the financial year, 53.4 per cent of Budget Estimates was spent by various ministries and departments.
 Thakur also listed out the steps taken by the government to boost economic activities.
 The real GDP growth slowed to an over six-year low of 5 per cent in the first quarter of the current financial year.
 Replying to another question, Singh said non-performing assets of banks, after reaching a peak of Rs 10,36,187 crore as on March 31, 2018, have declined Rs 97,996 crore to Rs 9,38,191 crore as on June 30, 2019.
 Banks have also "effected record recovery" of Rs 4,27,115 crore over the last four financial years and the first quarter of the current financial year, including recovery of Rs 1,56,702 crore during the financial year 2018-19. NKD CS HRS

No intention to revise fiscal deficit target: Govt

New Delhi, Vedanta Ltd on Tuesday said its board has approved an interim dividend of Rs 7,621 crore for the current financial year. The company has fixed April 7 as record date for the purpose of dividend payment. "The Board of Directors at a meeting held on Tuesday, March 28, 2023 approved the fifth interim dividend of Rs 20.50 per equity share... on face value of Rs 1/per share for the financial year 2022-23 amounting to Rs 7,621 crore," according to a regulatory filing. The board also accepted the resignation of <keyword id="256693" type="General" weightage="80" keywordseo="ajay-goel" source="Orion">Ajay Goel</keyword> from the post of Acting Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) effective from the close of business hours on April 9. Details about his successor will be announced in due course, the filing said.

Vedanta board approves Rs 7,621 crore interim dividend for FY23; CFO resigns

Will it be a policy war soon between the Indian central bank/government and the big boys of <keyword id="46431" type="CITY" weightage="100" keywordseo="India-Inc">India Inc</keyword>? Concerned over the <keyword id="6355302" type="ORGANIZATION" weightage="100" keywordseo="Rupee">rupee</keyword>’s stumble and a record current account deficit, the <keyword id="6354335" type="CITY" weightage="100" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> wants Indian companies to seek prior approval for any direct investment abroad that exceeds their net worth. But the 100% cap is not likely to thwart their appetite for <keyword id="75755" type="UNKNOWN" weightage="100" keywordseo="overseas-acquisitions">overseas acquisitions</keyword> as most of the fast-growing firms have significantly enlarged their balance sheets and can close big deals without much sweat. The weakening rupee has not been too much of a disincentive either, as the flagging <keyword id="34412" type="ORGANIZATION" weightage="100" keywordseo="economy">economy</keyword> of the <keyword id="6354458" type="COUNTRY" weightage="80" keywordseo="US">US</keyword> and Europe means good assets at realistic pricing 
 So how many companies have gone shopping abroad in the current financial year starting from April 2013 and how much money has flowed out? In April-June 2013, the aggregate disclosed value of <keyword id="640238" type="UNKNOWN" weightage="100" keywordseo="outbound-deals">outbound deals</keyword> amounted to $5.1 billion, according to Ernst &amp; Young. However, outbound bids totalled only $2.8 billion in the July-September quarter – a 47.2% fall from the previous quarter, a Mergermarket report stated. 
 We still don’t have official data regarding the number of <keyword id="1913054" type="UNKNOWN" weightage="100" keywordseo="Outbound-MA-deals">outbound M&amp;A deals</keyword> for the first two quarters of the current financial year. But a close look at some of the big-ticket and strategic deals, done by the famous and not-so-famous companies, will certainly give you a clear insight into the current trends. Some of these deals happen to be smaller, softer and less risky takeovers, but they all add up. Still, the nagging question remains – will these initiatives drive growth in the long run or simply lead to undesirable dollar outflow?

25 Key Overseas Acquisitions India Inc Made
In Current Fiscal

New Delhi, Feb 1 () The government on Saturday pegged disinvestment target for 2020-21 at Rs 1.20 lakh crore, nearly double of Rs 65,000 crore it expects to raise in the current financial year.
 The government has missed the budgeted disinvestment target of Rs 1.05 lakh crore set for the current financial year by a huge margin.
 In the current financial year so far, the government has mopped up about Rs 18,000 crore by way of disinvestment. The Revised Estimate pegs disinvestment proceeds at Rs 65,000 crore for this fiscal ending March 2020.
 For the next financial year, beginning April 1, the government expects a substantial Rs 90,000 crore revenue from disinvestment of government stake in public sector banks and financial institutions. This would help the government achieve the Rs 1.20 lakh crore total disinvestment proceeds for 2020-21.
 Finance Minister Nirmala Sitharaman in her 2020-21 Budget announced selling of part government stake in insurance behemoth Life Insurance Corporation (LIC), beside selling the balance holding of the government in IDBI Bank to private, retail and institutional investors.
 "In the last few years, the government has taken concrete steps to bring our banking system to be robust. However, there is a need for greater private capital. Accordingly, it is proposed to sell the balance holding of Government of India in IDBI Bank to private, retail and institutional investors through the stock exchange," she said in her Budget Speech.
 The government currently holds 47.11 per cent, while LIC is the majority shareholder holding 51 per cent stake in IDBI Bank.
 In August last year, the Cabinet approved selling the government's controlling stake in IDBI Bank to LIC, which is currently 100 per cent government-owned.
 Sitharaman in her Budget Speech also proposed listing of LIC on the stock exchanges through an initial public offer.
 "Listing of companies on stock exchanges discipline a company and provides access to financial markets and unlocks its value. It also gives opportunity for retail investors to participate in the wealth so created. The government now proposes to sell a part of its holding in LIC by way of initial public offer (IPO)," she said.
 In the financial year 2016-17, the government had missed the budgeted disinvestment target. While the Budget had pegged target at Rs 56,500 crore, the government was able to mop up Rs 46,247 crore.
 In 2019-20, after a gap of 2 years, the government has missed the disinvestment target set in Budget.
 In 2017-18, it bettered the target of Rs 1 lakh crore and raised a record Rs 1,00,056 crore. In 2018-19, the disinvestment mop-up stood at Rs 84,972 crore as against the Budget target of Rs 80,000 crore. JD HRS

Govt pegs Rs 1.20 lakh cr disinvestment mop-up in 2020-21, Rs 65,000 cr in current fiscal

The power generation in first two months of the second quarter of current financial year rose marginally by 1.5 per cent on-year due to heavy rainfall during these months, <keyword id="105309" type="General" weightage="50" keywordseo="emkay-global-financial-services" source="Orion">Emkay Global Financial Services</keyword> said in a report. This was sharply lower than 16 per cent growth in the first quarter of the current financial year, which had the impact of low base due to Covid-19. August generation has been less than 1 per cent. On a 3-year CAGR basis, growth for the two months has been 3.5-5 per cent. "A closer look into the electricity demand pattern suggests that heavy rains during July-August 2022 (up 30 per cent <keyword id="63194" type="General" weightage="80" keywordseo="yoy" source="Orion">YoY</keyword>) might be the main reason for the same. Both residential and agricultural demand has high corelation to weather conditions. As the rainy season recedes, we believe growth in power demand will normalize to the medium-term figure of ~5 per cent," the report said. <keyword id="209265" type="General" weightage="50" keywordseo="hydro" source="Orion">Hydro</keyword> growth has been strong at 10 per cent, while Thermal and RE growth stood flat to moderate at 2 per cent. While, coal production reported 11.4 per cent and 8.3 per cent YoY growth for July and August, respectively. Coal dispatch is up 8.5 per cent/5.4 per cent YoY for the two months, although there was some tapering in growth. As per report, overall coal dispatch has been ~7 per cent for these two months, the power sector has received ~14 per cent higher coal in August 2023 as against August 2022 - YTD numbers stand at 20 per cent. This is good compared to last year, when India faced good demand upsurge during Sep-Oct and many thermal units did not have enough inventory. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/satellite-internet-provider-hughes-communications-india-on-monday-announced-the-commercial-launch-of-indias-first-high-throughput-satellite-hts-broadband-service-powered-by-the-indian-space-research-organisation-isro-as-the-elon-musk-run-spacex-abandoned-its-affordable-internet-project-starlink-in-the-country-/articleshow/94151236.cms">Hughes, ISRO launch satellite internet service in India as Musk's Starlink disappears</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/lenskart-and-mirae-asset-capital-sign-up-with-razorpay-for-online-transactions/articleshow/94150744.cms">Lenskart and Mirae Asset Capital sign up with Razorpay for online transactions</a>

Power generation rises marginally in July-Aug on heavy rain: Emkay Global

New Delhi, Dec 29 () The automobile component industry is expected to end the current financial year on a negative note as it would be difficult for the segment to make a recovery in the second half after reporting a de-growth of 10 per cent in the first six months, ACMA President Deepak Jain said.
 The Automotive Component Manufacturers Association (ACMA) also expects the first half of the next financial year to remain challenging for the industry. It, however, expects things to become relatively better in the second half of the next financial year.
 "Overall, our estimate is that we will have a de-growth in the current fiscal because we have already de-grown by 10 per cent in the April-September period. I do not think it is possible to catch up (in the second half) in the current situation," ACMA President Deepak Jain told .
 He further said, "So, the outlook would be that we would be basically going into negative. I am hopeful that the negative would not be double digit but single digit, as the second half performance should be better as compared with the first half."
 When asked about the factors that could help the industry in the fourth quarter, Jain said the expected launches of BS-VI compliant models during the period would help the automobile companies generate better sales.
 "Better volumes for them would mean better sales for us as well. Secondly, BS-VI vehicles mean there would be more value addition by component makers... So, it might not give you the volume impact but it will definitely give you the value impact," he noted.
 On outlook for the next financial year, Jain said the industry will have to adopt a wait-and-watch policy.
 "But, looking at the market situation, it seems that first half would be challenging. We will closely monitor and align ourselves with our customers," he added.
 The auto component industry's turnover witnessed its worst-ever decline in the first half of the current financial year, leading to a job loss of around 1 lakh temporary workers till July this year.
 The auto component industry turnover dropped to Rs 1.79 lakh crore in the April-September period, down 10.1 per cent from Rs 1.99 lakh crore in the year-ago period.
 The industry body said the slowdown has also resulted in an investment loss of up to USD 2 billion during the period. MSS HRS

Auto component industry may end current fiscal in negative territory: ACMA

<keyword id="36749" type="General" weightage="20" keywordseo="capital" source="Orion">Capital</keyword> <keyword id="53105" type="General" weightage="20" keywordseo="expenditure" source="Orion">expenditure</keyword> has started pushing private investment and the <keyword id="6358021" type="General" weightage="80" keywordseo="budget" source="Orion">Budget</keyword> target of Rs 7.5 lakh crore for the current financial year is likely to be met, the Economic Survey 2022-23 said. The capital expenditure (capex) of the <keyword id="6378065" type="General" weightage="80" keywordseo="central" source="Orion">central</keyword> government which increased by 63.4 per cent year-on-year in the first eight months of FY23 was another growth driver of the Indian economy, crowding in the private capex since the January-March quarter of 2022, it said. "On the current trend, it appears that the full year's capex (announced in the Budget) will be met," it said. A sustained increase in the private capex is also imminent with the strengthening of the balance sheets of the corporates and the consequent increase in credit financing it has been able to generate, it said. The <keyword id="6355261" type="General" weightage="20" keywordseo="finance-minister" source="Orion">Finance Minister</keyword> raised capital expenditure (capex) by 35.4 per cent for the financial year 2022-23 to Rs 7.5 lakh crore to continue the public investment-led recovery of the pandemic-battered economy. The capex in the previous year was pegged at Rs 5.5 lakh crore. The government laid emphasis on capital expenditure to push economic growth hit by the pandemic. It was expected that the increase in public spending would crowd in private investment. Going by the capex multiplier estimated for the country, the economic output of the country is set to increase by at least four times the amount of the capex, the Survey said. State, in aggregate, are also performing well with their capex plans, it said, adding, like the Central government, states also have a larger capital Budget supported by the Centre's grant-in-aid for capital works and an interest-free loan repayable over 50 years. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/indian-economy-projected-to-grow-between-6-6-8-in-fy24-says-economic-survey-2023/articleshow/97489284.cms">Indian economy projected to grow between 6-6.8% in FY24; private capex necessary for job creation: Economic Survey 2023</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-enterprises-fpo-subscription-details-stock-price/articleshow/97476824.cms">Adani Enterprises FPO fully subscribed on the last day</a>

You Searched For "current financial year" and got 14 results

'Dividend payout norms for NBFCs should come into effect from FY22'

IANS

Market rally widens, 24 stocks underpin most of BSE-100's FY21 performance

IANS

Commercial vehicle makers to incur ₹6,000 crore net loss this fiscal, says Crisil

PTI

Fiscal deficit may widen to 3.8 pc for current financial year: Report

PTI

COVID-19 pandemic: CARE Ratings expects GDP growth at 1.1 pc in current financial year

PTI

BSNL launches Wi-Fi zone in Puri, will invest Rs 830 Crores in Odisha

BI India Bureau

Govt pegs net market borrowing at Rs 5.36 lakh crore for FY21

PTI

No intention to revise fiscal deficit target: Govt

PTI

Vedanta board approves Rs 7,621 crore interim dividend for FY23; CFO resigns

PTI

25 Key Overseas Acquisitions India Inc Made In Current Fiscal

Sanghamitra Mandal

Govt pegs Rs 1.20 lakh cr disinvestment mop-up in 2020-21, Rs 65,000 cr in current fiscal

PTI

Power generation rises marginally in July-Aug on heavy rain: Emkay Global

IANS

Auto component industry may end current fiscal in negative territory: ACMA

PTI

Capital expenditure target of ₹7.5 lakh crore for FY23 to be met: Economic Survey

PTI

Popular Keywords

Buying Guides