Additionally, Budget expectations could have been higher if demonetisation had been very effective to give more resources in the hands of the government. This would have redirected government spending from windfall gains. Having said that, we have not completely seen the actual effect on the government coffer, since tax revenue (like IDS) and lock-in measure will improve government's fiscal. … [Read more...] about Market will be happy if FM keeps a fiscal target of 3.5% in FY18
Brussels economic forum
New York Times technology reporter Mike Isaac tells an incredibly important story about a company that is a household name today. Ride-hailing firm Uber is important for many reasons. Its core business, as fundamental as transport - as broken as it gets in big cities - is only one reason. Uber heralded the era of seemingly forever loss-making Silicon Valley startups, a trend which is also seen in the consumer internet markets such as India, Indonesia and China. … [Read more...] about Book review | Super Pumped: The Battle for Uber by Mike Isaac
Many restaurant workers who lost work as the outbreak grew are in crisis now, says Saru Jayaraman, the president of One Fair Wage, an organization that aims to lift tipped workers out of poverty. As the COVID-19 outbreak grew, the nonprofit learned about the details of personal struggles as some workers applied for its emergency coronavirus relief fund. “Three months ago, workers were writing in, saying, I really need this money to get groceries for my kids,” she says. “Now, three months later, they’re telling us, ‘I am at the breaking point. I think I’m going to have to steal food for my children. I don’t have money for gas to get to the food bank.'” … [Read more...] about David Chang and other chefs say now is the time to fix the restaurant industry’s long-standing inequities
"While the run has been very strong, and valuations are getting rich, we believe the outperformance may sustain. Despite a subdued FY21F (weak energy business, COVID-19 impact), we expect a 29 percent CAGR in consolidated earnings over FY20-23F. Also, investor appetite is strong for consumer business. While institutional holding in RIL has been rising, we believe there is under-ownership, given the sharp rise in RIL’s weight in Nifty," Nomura said. … [Read more...] about RIL, RIL partly paid shares hit all-time high; combined m-cap tops Rs 14L crore
"Midcaps and smallcaps are slowly coming back. Midcaps outperformed in the month of June, however, the July performance has been a mixed bag. As market volatility reduces and largecaps become more expensive, midcaps are likely to see improvement in the performance," said Kulkarni of Axis Securities. … [Read more...] about Market up 48% from March lows; time to change strategy and rejig portfolio?