Department of Economic Affairs Secretary Tarun Bajaj said that India's economy is moving much faster than it was anticipated by economists. Bajaj further mentioned the International Monetary Fund report had predicted that India's growth should be 8.8% in next financial year. Tarun Bajaj said, "Despite COVID-19 situation, our growth story, which we feel is intact, is also accepted by others, who are ready to invest in India. We continue to see an uptick in economy for past few months since opening up of economy post lockdown. We are expecting a further improvement in November. The economy is moving much faster than anticipated by economists. This is mentioned in IMF report which says India's growth should be 8.8% in next financial year, which is highest for major economies."
The International Monetary Fund on Tuesday said forecasts for the global economy were "somewhat less dire" as wealthy countries and China rebounded more quickly than expected from coronavirus lockdowns but warned that the outlook was worsening for many emerging markets. Fred Katayama reports.
What prompted Azim Premji, one of the richest Indians, to give away 92% of his wealth over the past two decades to a foundation meant for philanthropic work? We speak to the authors of his recent (unauthorized) biography, Sundeep Khanna and Varun Sood, to understand the businessman. The two former Mint journalists bring their rich experience as business journalists to bear in their book, Azim Premji: The Man Beyond the Billions, as they speak to several associates, employees and friends of the Bengaluru-based billionaire about his company, Wipro, the IT sector and philanthropy.
Credit: HT Digital Content Duration: 25:36Published
Equity benchmark indices maintained an upward trajectory on Friday after the Reserve Bank of India's (RBI) kept repo rate unchanged and continued with accommodative stance. Though the central bank sees FY21 GDP contracting by 9.5 per cent and may turn positive in Q4, several market experts said many measures have been introduced to maintain comfortable liquidity conditions. The BSE SandP Sensex closed 327 points or 0.81 per cent higher at 40,509 while the Nifty 50 gained by 80 points or 0.67 per cent at 11,914. Among stocks, State Bank of India rose by 3.6 per cent to Rs 198.55 per share. Private lenders ICICI Bank, Axis Bank and HDFC Bank ticked up by 4 per cent, 3.7 per cent and 3.6 per cent respectively. IT major Wipro was up by 4.4 per cent to Rs 375.25 per share while infrastructure conglomerate Larsen and Toubro advanced by 3.3 per cent to close at Rs 910.05 per unit. However, those which lost were Grasim, Hindalco, Sun Pharma, Nestle India, Britannia and Tata Motors. Meanwhile, Asian shares were mixed as revived hopes for a US stimulus deal eclipsed weaker-than expected jobs data. Nikkei dipped by 0.12 per cent while Hong Kong's Hang Seng was down by 0.31 per cent. But South Korea's Kospi rose by 0.21 per cent.
Equity benchmark indices opened in the green on Wednesday with Sensex up by 277.40 points and Nifty up by 84.85 points. The domestic stock markets opened on a positive note today, building on the record closing highs registered in the previous session. At 9:16 am, the 30-scrip BSE Sensex was up by 277.40 points or 0.62 per cent at 44,749.73. Similarly, 50-scrip NSE Nifty was trading at 13,140.00, at 9:16 am, up by 84.85 points or 0.65 per cent.
Equity benchmark indices opened in the green on November 24 with Sensex up by 208.50 points and Nifty up by 72.25 points. The benchmark indices BSE Sensex and NSE Nifty opened higher for the second consecutive day as COVID-19 vaccine progress has shored up the global sentiment. At 9:16 am, the 30-scrip BSE Sensex was up by 208.50 points or 0.47 per cent at 44,341.19. Similarly, 50-scrip NSE Nifty was trading at 12,998.70, at 9:16 am, up by 72.25 points or 0.56 per cent.
Equity benchmark indices opened in the green on Monday with Sensex up by 371.84 points and Nifty up by 86.15 points. The domestic stock markets opened in the green, after closing at around record highs in the previous week, one of the reasons likely being, as hopes of a coronavirus vaccine continue to buoy investor sentiment globally. At 9:16 am, the 30-scrip BSE Sensex was up by 371.84 points or 0.85 per cent at 44,164.17. Similarly, 50-scrip NSE Nifty was trading at 12,945.20, at 9:16 am, up by 86.15 points or 0.67 per cent.
Equity benchmark indices witnessed a sharp recovery in the last hour of trading session on October 14 and closed in the green led by a rally in financial and banking scrips. The BSE S-P Sensex closed 169 points or 0.42 per cent higher at 40,795 while the Nifty 50 was up by 37 points or 0.31 per cent at 11,971. Except for Nifty auto, IT and pharma, all sectoral indices at the National Stock Exchange were in the green with Nifty financial service up by 1.7 per cent, private bank by 1.3 per cent and PSU bank by 0.6 per cent. Among stocks, Bajaj Finserv gained by 4.1 per cent to close at Rs 6,108.10 per share and Bajaj Finance by 2.8 per cent at Rs 3,364.50.
Equity benchmark indices were flat during early hours on Tuesday tracking Asian peers which witnessed downside in early deals. At 10:15 am, the BSE SandP Sensex was up by 40 points or 0.1 per cent at 40,634 while the Nifty 50 gained by 23 points or 0.2 per cent at 11,954. Sectoral indices at the National Stock Exchange were mixed with thin margins with Nifty private bank down by 0.7 per cent and PSU bank by 0.6 per cent. But Nifty FMCG and IT rose by 0.5 per cent each. Among stocks, the early gainers were Dr Reddy's, Asian Paints, Eicher Motos, Kotak Mahindra Bank and Bharti Airtel.However, ICICI Bank fell by 2.3 per cent to Rs 394.75 per share while IndusInd Bank, Axis Bank and State Bank of India traded lower with thin margins.Meanwhile, Asian shares slipped despite a firmer Wall Street lead with a buoyant tech sector and fresh optimism about US stimulus expected to continue to support sentiment.