The Reserve Bank of India (RBI) recently lowered India's growth forecast for the ongoing fiscal due to the coronavirus crisis. "The GDP growth in 2020-21 is expected to remain in the negative territory with some pick up in the second half," RBI Governor Shaktikanta Das had said last week. … [Read more...] about India GDP data highlights: Growth falls to 3.1%; agriculture sector grows at 5.9%
Hectic parleys are still going on in the central government to assess the impact of the lockdown so far and the role to be played by the centre government and the States and Union Territories after the fourth phase of the curb comes to an end on Sunday. … [Read more...] about Centre likely to retain limited role and allow states have more say after Lockdown 4.0
The miniature paintings of the time are a valuable primary source of information, and from them, it is clear that there were women musicians as well. The elite women, meanwhile, were patrons of art. Hamida Banu Begum, Akbar’s mother, owned her own copy of the Persian Ramayana, and asked to view it one last time before her death. Akbar’s Rajput wives, including Harkha Bai, brought their language, their food and their music to the zenana as well. So women were involved in all aspects of Mughal culture, it is just that the record-keeping for their influence is much more arbitrary. … [Read more...] about Mythological women revered, stories of historical women censored in India, says historian Ira Mukhoty
Covid’19-related shutdowns hurt an otherwise healthy year for ABFRL. It reported 7.7% revenue growth and a 16% EBITDA drop in FY20. The `10bn rights issue as a risk-mitigation strategy would strengthen the balance sheet. The inherently strong brands and otherwise healthy working-capital cycle are its key strengths. The stock price has fallen ~36% since the lockdown with concerns about demand revival uncertainty and mounting debt. On the extended lockdown and higher fixed costs than previously expected, we cut our FY21e/FY22e revenue 6.3%/8.3%, EBITDA 44.5%/25.0%. We maintain our Buy rating with a lower TP of `137 based on 18x FY22e EV/EBITDA. We believe the ability to control fixed costs and demand revival are key monitorables. … [Read more...] about Buy Aditya Birla Fashion and Retail target of Rs 137: Anand Rathi
In Wipro, after CEO Vivek Paul's exit in 2005, Azim Premji assumed the role for three years till 2008. Between 2008 and 2011, the company was led by Girish Paranjpe and Suresh Vaswani, both of them old-timers, who quit in 2011 on grounds of personal reasons. By then, Wipro's growth began to slump. … [Read more...] about Wipro’s new CEO: Can foreign executives succeed in Indian IT firms?