Surge in GST Collection The Goods and Services Tax (GST) collection hit rupees one lakh crore in August, up by around 30 percent year-on-year, indicating a strong resurgence in commercial activity following the second wave of the pandemic outbreak. Even when compared to August revenues of 98,202 crore in 2019-20 [a non-pandemic year], this is …
Even as India’s GDP growth data for the first quarter of the fiscal has come in, the country’s chief economic adviser (CEA) K V Subramanian has noted that the numbers reinforce the government’s stance that a V-shaped recovery is on the cards. A V-shaped recovery is a term used to describe a sudden decline of …
An Overview For the second month in a row, the August PMI statistics indicated an improvement in overall operating conditions. A number above 50 indicates expansion, whereas a score below 50 indicates contraction. “The Indian manufacturing sector continued to rebound in August, although growth slowed as demand showed symptoms of contraction due to the epidemic. …
An Overview ICICI Bank’s stock has surpassed the ₹5 trillion market capitalization record, with a gain of nearly 35% so far this year. The stock closed at 719.20 per share on the BSE on Wednesday, up 0.05 percent from its previous finish, with a market capitalization of a little under ₹5 trillion. Analysts believe that …
On Wednesday, market regulator SEBI (Securities and Exchange Board of India) revised the liquidity enhancement scheme (LES) framework that stock exchanges use to boost volumes. So, under this new rule, stock exchanges will have to get prior approval from their governing board before launching a scheme. SEBI said in a circular that this modification was …
The apex bank of India, RBI, announced on Wednesday that the country’s holding of the IMF’s SDR has increased significantly. Currently, India has a threshold of SDR 13.66 billion, which is $19.41 billion, per the exchange rate of 23 August 2021. According to the reports by the Reserve Bank of India, the IMF allocated SDR …
The much-anticipated GDP growth numbers for the first quarter of fiscal 2022 released on August 31 shows that India’s growth has risen to 20.1 per cent for the quarter on a low base of last year. This is reportedly India’s best GDP growth on a quarterly basis. In the same quarter of the earlier financial …
An Overview The MSCI India index, which is used by global fund managers to judge the performance of Indian stocks priced in dollars, trades at an 80 percent premium to the MSCI EM index, which reflects emerging market (EM) equities, according to Bloomberg statistics. It is substantially greater than the 44 percent long-term average premium. …
Aptech, a leading vocational training and skill development organisation, has reached a new 3-year high on the bourses. The company has rallied to as high as Rs. 304 on BSE on this Tuesday’s intra-day trading. This happened a day ahead of the company’s scheduled board meeting to launch a new line of business. Aptech announced …
On 31 August 2021, Tuesday, HCL Technologies shares recorded a new high of Rs. 1,193.15, surging 3% on the BSE during intraday trade. This rise in stock price materialised immediately after the company announced that it would be allocating $1.25 million to Series A preferred stock of Austin GIS via its subsidiary, HCL Bermuda Limited. …
