India's power demand set to double by 2030: R.K. Singh
"Capital investments would also be required for modernising the power systems and promoting new technologies like green hydrogen, storage, offshore wind etc. to help India achieve its energy transition trajectory. To this end, it is absolutely imperative that the DISCOMS across the country follow prudent and sustainable financial practices to ensure that they are viable," R.K. Singh said.
SBI hits Rs 5 lakh crore market capitalisation
With this market capitalisation, SBI stood on the seventh position in the market capitalisation ranking. SBI has become the third lender in the country to cross the market cap of Rs 5 lakh crore. HDFC Bank held first rank in this list, which was followed by ICICI Bank. At 1.10 p.m., SBI shares were up Rs 14.75 or 2.64 per cent at Rs 573.00.
Cap on surcharge of long-term capital gains provides relief to HNIs
Such surcharge is already fixed at 15 per cent for capital gains arising from on-market sale of equity shares and certain other securities, capital gains arising from any other capital asset are subject to a surcharge as high as 37 pert cent, depending on the total income of the taxpayer.
Govt capital spending at 18-year high
"We expect F23 growth at 8.4%. In view of an improving growth trend, we expect the RBI to start policy normalization with a reverse repo rate hike in the February policy review, followed by repo rate hikes from the April policy review," it said. "We are looking at a new capex cycle and, hence, a new profit cycle and an exit from the RBI. That augurs well for our overweight sectors: Financials, Discretionary Consumption and Industrials," Morgan Stanley said.
Large firms have become larger at the cost of smaller firms: HSBC
Those earning their livelihoods from small and informal firms have suffered. This is a problem because 80 per cent of India's labour force is employed in the informal sector, and the roughly half of them who are in the non-agricultural sector have borne the economic brunt of the pandemic, the report added.
Markets stable in last 10 years' pre-Budget trade, bloomed afterwards (IANS Market Watch)
Traditionally, until 2016, the Budget was announced on the final working day of February. Now it is presented in the Parliament on the first working day of February. Accordingly, the periods just before and after assume much significance for market movement. This time around, the ongoing Covid-19 pandemic and the upcoming state elections have heightened the stakes of the Budget day.
RBI to the rescue: Sizeable intervention seen to arrest rupee fall
The RBI is known to enter the markets via intermediaries to either sell or buy US dollars to keep the rupee in a stable orbit. However, the decline might trigger again on the back of continuous selling by FIIs in the secondary market. Lately, growing cautiousness over a US Fed's tapering measures as well as scare around the Omicron variant of the Covid-19 impacted investors sentiments.
L&T valuation doesn't capture multi-year investment cycle
"The former is probably not correct since the market is very excited about the prospects of a multi-year investment cycle in India and LT is well-positioned to participate in the same. The latter may require restructuring LT's conglomerate structure," it said. "In our view, LT's valuation does not adequately capture a potential multi-year investment cycle and LT's unique position in a large market opportunity."