The Federation of Automobile Dealers Associations’ (FADA) June 2021 report mentions a YoY increase in total vehicle sales by 22.6%. However, this figure is short by 28% compared to the vehicle sales of June 2019. Auto retail sales hike – a closer look While automobile dealerships across the country are still not fully operational due …
According to a report from SaaSBOOMi, India’s SaaS (Software as a Service) firms are about to reach $1 trillion in valuation by 2030. Moreover, they will contribute to nearly half a million job creation in India. SaaSBOOMi, a community of industry founders and project leaders, in collaboration with McKinsey and Company and NASSCOM, has compiled …
S&P Global Ratings have retained India’s sovereign rating to BBB-, but with a stable outlook. The US-based credit rating agency mentions that, even though growth risks are rising, India’s economy and fiscal position will start to recover from the current financial year onwards. S&P forecasts the real GDP growth to rebound to 9.5%. S&P’s affirmation …
India’s foreign exchange reserves have grown to over $610 billion, on the back of foreign direct investments and the inflow of foreign institutional or portfolio investors into the stock markets, which have seen a sustained bull run over the past year. According to the Reserve Bank of India (RBI) data, for the week ended July …
Tata Metaliks reported on Tuesday that it had clocked Rs. 94.72 crores in net profit for the June quarter. It had suffered Rs. 12.36 crores in losses in this period last year. What led to the strong financial gains? According to its financial records, Tata Metaliks income in April – June quarter jumped to Rs. …
An overview Wipro’s IT services division grew 21.3 percent in constant currency in the first quarter compared to the same period last year. However, the acquisition of a British consultancy and technology services firm, accounted for 7.7% of this. In the preceding quarter, Wipro completed the acquisition. Nonetheless, the corporation had a very excellent quarter. …
An Overview Finance Minister Nirmala Sitharaman said on Friday that India is committed to long-term relationships with US investors and that the two countries have set a goal of $500 billion in trade between them. Sitharaman was speaking to a group of prominent foreign investors including General Electric, Baxter Healthcare USA, Brambles, Marsh & McLennan …
Clean Science & Technology Ltd. will list its IPO shares on the NSE and BSE today. The company is one of the leading India-based chemical manufacturers. It primarily deals with Pharmaceutical Intermediates, Performance and FMCG chemicals. Clean Science exports its productions to various international markets and has collected 69% revenues through export in 2020. The …
An Overview of HDFC Q1 On Saturday, HDFC Bank reported a 16.1% increase in standalone net profit to Rs. 7,729.60 crores, up from Rs. 6,658,60 crores in the same quarter last year. The earnings number fell short of investors’ expectations. The second wave of pandemic disrupted business operations for about two-thirds of the quarter, resulting …
As per data published by depositories, Foreign Portfolio Investors (FPI) have withdrawn net investments worth Rs. 4515 crores in the first half of July 2021. Accordingly, it appears that they are moving towards the Indian market with caution. That said, they had taken an aggressive approach in the first three months of this year before …
