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 …
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. …
Unilever’s mid-year results should provide a sign of how the FMCG giant is managing the increasing commodity and transportation costs. Moreover, it will show if they have managed to navigate a price hike without compromising sales volume. Even though Unilever, in its earlier prediction, did not foresee any significant changes to its underlying profits, analysts …
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. …
From being debt-ridden in 2007 to envisioning a net debt-free company profile by 2023-24, Tata steel has come a long way in the last two decades. The steelmaker struggling with mounting debt of $6 billion from a failed acquisition managed to reduce its total debt by 28% in the first quarter of FY21. What caused …
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 …
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 …
A Brief Overview The 2nd wave of the Coronavirus pandemic wreaked havoc on the Indian economy which up until its onslaught, was beginning to witness an upturn. The re-imposition of lockdowns across the country, however, meant that all forms of commerce and economic activity reduced their pace of operations which adversely affected their returns as well …
On 28 June Monday, Nirmala Sitharaman announced a slew of new economic measures to revive an economy tattered by COVID-19. She presented a 7-point relief measure that included financial assistance for different sectors. 7 relief measures announced by the GOI 1. Loan guarantee scheme of Rs. 1.1 lakh crores for coronavirus-affected sectors Under this announcement …
The Reserve Bank of India regularly conducts Consumer Confidence Survey (CCS) and Inflation Expectations Survey of Households (IESH). On 27 June 2021, it released the July 2021 round of these surveys. What are CCS and IESH? CCS seeks qualitative feedback from respondents on their sentiments on households’ income and spending situation, price level, employment opportunities, …
