NewsBizkoot.com

Tag: report

  • India’s defence export projected to grow at 18 pc by 2030: Report

    India's defence export projected to grow at 18 pc by 2030: Report

    India’s defence export projected to grow at 18 pc by 2030: ReportIANS

    India’s defence export is estimated to grow at 18 per cent CAGR (compound annual growth rate) from FY24-FY30, driven by the ‘Make in India’ initiative and thrust on local manufacturing.

    According to global investment firm Jefferies, which cited factors such as geopolitical tensions and the government’s push to indigenisation the defence sector, opportunities are growing for Indian defence companies.

    The report further said that the government is also building bilateral relations to promote exports in the global market.

    Between FY24 to FY30 (estimated), the potential market opportunity for Indian defence companies is expected to rise at 14 per cent CAGR, the report stated.

    “On one hand, the Indian government is emphasising indigenisation of defence. On the other hand, export of defence equipment is also being encouraged. This will increase the order inflow in the defence sector,” the report mentioned.

    India’s defence spending will double between FY24 and FY30. This will further push share prices of defence companies in the coming future.

    Defence companies will get opportunities worth $90 billion to $100 billion in the Indian market in the next 5 to 6 years. In 2022, India’s defence expenditure was 10 percent of the US expenditure and 27 percent of China’s expenditure.

    India is the second largest importer of defence equipment in the world. Country’s share in the total arms imports in the world is 9 per cent.

    Budget hikes defence allocation by 4.79 pc to Rs 6.22 lakh crore

    India is the second largest importer of defence equipment in the world.IANS

    India’s defence exports have increased 14 times to $2.6 billion between FY 2017 and FY 2024.

    India’s export basket of defence products includes missiles, radars, naval systems, helicopters, and surveillance equipment.

    Last week, in a huge boost to local defence manufacturing, the Centre approved 10 capital acquisition proposals amounting to Rs 1,44,716 crore, including for the modernisation of the Indian Army’s tank fleet with a futuristic Main Battle Tank.

    The Defence Acquisition Council (DAC), chaired by Defence Minister Rajnath Singh, accorded Acceptance of Necessity (AoN) for 10 capital acquisition proposals amounting to Rs 1,44,716 crore.

    Of the total cost, 99 per cent is from indigenous sources under the ‘Buy (Indian)’ and ‘Buy (Indian-indigenously designed, developed and manufactured)’ categories, the ministry said in a statement.

    The move clears the path for the procurement of future-ready combat vehicles (FRCVs), air defence fire control radars, Dornier-228 aircraft, next-generation fast patrol and offshore patrol vessels.

    (With inputs from IANS)

     

  • Financial services sector must grow 20 times towards $30 trillion GDP goal by 2047: Report

    Financial services sector must grow 20 times towards $30 trillion GDP goal by 2047: Report

    IANS

    In order to achieve a $30 trillion GDP by 2047, India will require a 20 times growth in the financial services sector, with banks playing a pivotal role, a report showed on Thursday. 

    Future growth will require $4 trillion of capital base in banks, one-third of which will have to be fresh capital deployment, according to the report by Boston Consulting Group (BCG) in association with FICCI and Indian Banks’ Association.

    India’s banking system is in a strong position today acting as an ideal launchpad for the ‘Viksit Bharat’ mission.

    “It will have to build for the next 2 decades through structural shifts – growing deposits, enhancing asset quality, and improving productivity, while advancing digital capabilities and future competencies,” explained Ruchin Goyal, managing director and senior partner at BCG.

    “To fuel inclusion and credit growth, we must continue to innovate and reimagine our deposit strategies, aligning them more closely with the evolving needs and preferences of our customers,” according to MV Rao, Chairman at Indian Banks’ Association.

    GDP

    IANS

    The report highlighted key structural themes that banks need to work on for continued success of Indian banking sector.

    These are the future of household savings, addressing challenges with asset quality and pockets of leverage, take a bold vision on productivity, continue investing to drive digital funnel growth, along with focus on building future capabilities.

    India’s Digital Public Infrastructure (DPI) has laid the foundation for a strong and resilient financial infrastructure and accelerated the pace of digitisation.

    “It is now about taking capabilities to the next level and building for the next two decades – resilience, climate and cyber security needs to be strengthened, with centralised, real-time network and specialized talent,” said Jyoti Vij, Director General at FICCI.

    The Indian banking system has made significant strides in building future-ready competencies but must embrace the next wave of opportunities.

    Resilience must extend beyond technology to encompass entire business processes. Banks face a “GenAI paradox,” struggling to scale initiatives beyond pilots.

    “Climate risk presents both threats and a $2.5 trillion financing opportunity, demanding a shift in operating models. Additionally, India’s banks must tackle increasing cyber risks, necessitating a centralised, real-time network and specialised talent to mitigate threats,” the report mentioned.

    (With inputs from IANS)

     

  • #MeToo in Mollywood: Samantha Ruth Prabhu asks Telangana govt to form Hema Committee-like report 

    Actress Samantha Ruth Prabhu speaks on Hema Committee report which has revealed how actors were sexually abused in the industry
    Samantha Ruth Prabhu speaks on Hema Committee report. Photo Courtesy: Samantha Ruth Prabhu Instagram page

    Lauding the outcome of the Hema Committee report which opened a Pandora’s box of sexual abuses in Kerala’s Mollywood film industry, Southern actress Samantha Ruth Prabhu has called for a similar panel to probe the malaise in the Telugu filmdom.  

    She urged the Telangana film industry to release a similar report which would help in framing policies and ensure a safe working environment for women in the Telugu film industry.

    “We, the women of the Telugu film industry, welcome the Hema Committee report and applaud the persistent efforts of the WCC in Kerala, which has laid the path to this moment,” Samantha, who has worked in several hit movies in her career, wrote in a story on Instagram.

    “We hereby urge the Telangana government, to publish the submitted sub committee report on sexual harassment, which can help frame government and industry policies, to establish a safe working environment for women in the TFI (Telugu Film Industry),” the actor wrote.

    The  Justice K Hema Committee report, which was released recently, unveiled detailed allegations of sexual abuse by male actors, directors and other crew members in Mollywood.

    Several film actors have since then shared their experience of facing sexual abuse in the industry, leading to FIR registration against industry strongmen like Mukesh, Siddique, Jayasurya, Maniyanpilla Raju, Idavela Babu and director Ranjith.

    Samantha made her acting debut in the Telugu romance film Ye Maaya Chesave (2010), and won the Filmfare Award for Best Female Debut – South.

    She became the second actress to win both the Filmfare Award for Best Actress – Tamil and Best Actress – Telugu in the same year, for her performances in the 2012 films Neethaane En Ponvasantham and Eega, respectively.

    Over the next few years, she played the leading lady in top-grossing androcentric films such as Dookudu (2011), Seethamma Vakitlo Sirimalle Chettu (2012), Attarintiki Daredi (2013), Kaththi (2014), Theri (2016), 24 (2016), Mersal (2017), and Rangasthalam (2018).

    Her performance in A Aa (2016) won Samantha her fourth Filmfare Award, and she gained further praise for her performances in Mahanati (2018), Super Deluxe (2019), and Majili (2019), and the Amazon Prime Video thriller series The Family Man (2021).

    The last of these earned her a Filmfare OTT Award. In 2023, she had two critical and commercial failures in Shaakuntalam and Kushi. 

  • Nifty likely to reach 26,820 in next 12 months, following good monsoon conditions: Report

    markets, sensex

    Nifty likely to reach 26,820 in next 12 months: ReportIANS

    Nifty is likely to meet a 12-month target of 26,820, revised higher from earlier target of 26,398, market analysts said on Friday, amid high expectations for a festival season revival, supported by favourable monsoon conditions, and a strong infrastructure spending push by the government.

    In its report, financial services organisations Prabhudas Lilladher revised Nifty’s EPS (earnings per share) projections as the market continues to perform well.

    The report valued Nifty at 15-year average PE (19 times) with March 26 EPS of Rs 1,411 and arrived at 12-month target of 26,820, revised higher from earlier target of 26,398.

    Currently, Nifty is trading at 18.9 times its one-year forward EPS, which is almost on par with its 15-year average of 19 times.

    In a continuous bull case scenario, the report valued Nifty at PE of 20.2x and arrived at a target of 28,564.

    market

    Markets have experienced extreme volatility due to the Japanese carry trade and geopolitical uncertainty.IANS

    In a bear case scenario, Nifty may trade at a 10 per cent discount to a long-period average with a target of 24,407, the report mentioned. Since July 11, Nifty has delivered a return of 1.6 per cent despite rising volatility amid deteriorating geopolitical situation as Indian markets were supported.

    Markets have experienced extreme volatility due to the Japanese carry trade and geopolitical uncertainty.

    However, strong DII inflows continue to drive the markets, even as FII selling has subsided.

    Additionally, the increasing likelihood of an interest rate cut by the FED and overall inflation dropping to below 4 per cent raises hopes for a potential repo rate cut in the second half of FY25.

    Liquidity remains robust, with domestic inflows significantly surpassing FII flows, providing a buffer for the markets. The report anticipated a strong festival season demand, a rural revival, and potential interest rate cuts.

    Given the high valuations in some growth sectors, the report expects a shift towards defensive sectors such as consumer goods, durables, building materials, IT services, pharmaceuticals, and telecom.

    (With inputs from IAN)

  • Visa Application: Number of visa applications increased, VFS Global released report

    New Delhi. Since the Corona epidemic, there has been a tremendous increase in the number of visa applications in India. Visa service provider VFS Global company has released a report regarding visa applications.

    According to this report, there has been a rapid increase in the number of visa applications since the Covid-19 epidemic.

    – Advertisement –

    The data given in the report clearly shows that foreign travel also increased after the Corona epidemic.

    Visa applications increased

    VFS Global said in its report that the number of visa applications in June has surpassed the pre-pandemic level. This application is 2 percent more than the first half of 2019. At the same time, the number of applications has increased by 11 percent compared to the year 2023.

    According to the report, the demand for ‘Visa at Your Door Step’ (VAYD) in personalized service has also increased. The demand for VAYD has seen a fourfold increase as compared to the year 2019. At the same time, there was an increase of 16 percent in VAYD as compared to the first half of 2023.

    Also Read: NPCI simplified FASTAG payments using just the mobile number.

    With Visa at Your Doorstep, applicants can complete the visa application process from the comfort of their home or any location and can also avail the benefit of biometric enrolment service.

    VAYD service is available in these countries

    VFS Global said in its report that India’s VAYD service is available for 16 countries. This means that you can apply for visa for these countries from home. You can apply for visa for Austria, Czech Republic, Denmark, Estonia, Finland, France, Germany, Hungary, Iceland, Italy, Latvia, Lithuania, Luxembourg, Slovenia, Switzerland and Britain from home.

    Related Articles:-

    Good news for pensioners, Central Government is going to introduce new facility on 30th August

    Indian Railway New Rule: No need to queue for general tickets at stations, Know Details Here

    Now there is no need to pay stamp duty on registration of family property in this state

    – Advertisement –

  • Liquor Prices Cut: Premium liquor prices may fall by up to 20% in this state- Report

    Karnataka Premium Liquor Prices: There is a good news for liquor lovers. Expensive brands of liquor have become cheaper in Karnataka. The Karnataka government has announced a cut in excise duty slabs.

    This has made the prices of premium liquor cheaper across the state. The state has reduced the slabs to match the prices of premium liquor with neighboring states. This decision is expected to boost local sales. Also, the prices of expensive liquor brands will come down. Excise duty revenue will also increase for the government.

    – Advertisement –

    Liquor traders across the state are waiting for the announcement of the new rate card. Liquor has not yet been supplied under the new rate regime. The government, while notifying the changes in the Excise Act on August 23, had notified August 27 as the date for the new price to come into effect.

    Prices expected to drop by 20%

    Premium liquor prices in Karnataka are expected to come down by about 20 per cent. The policy change may take about a week to come into effect as the new rate card is yet to be announced. Though the new slabs for liquor came into effect from Tuesday, liquor traders said the new rate card has not been announced. Liquor has not yet been supplied under the new rate regime.

    An official told The Hindu that the revision of liquor rates following slabs has been a long-pending demand of the State government. This is not only expected to reduce the cost of some popular brands but also increase the excise revenue for the government.

    Also Read: School Holiday in September 2024: Schools will be closed for 8 to 12 days, 3 consecutive holidays this week

    While notifying the changes in the Excise Act on August 23, the government had notified August 27 as the date for implementation of the new prices. Government sources said under the new system, liquor rates in Karnataka would be at par or very close to those in neighbouring states.

    This adjustment will make premium liquor more accessible and will increase state revenue by promoting local consumption. It will also align with the government’s strategy to prevent revenue losses and curb purchases from neighbouring states.

    Related Articles:-

    All You Need to Know About the Unified Pension Scheme

    NPCI on Wednesday launched a new feature UPI Delegated Payment

    DA Hike: Government led by Prime Minister Narendra Modi may approve a 3% increase in DA

    – Advertisement –

  • Weather Report Today: Heavy rain warning in 6 districts of this state, Know the weather condition of other cities

    Lucknow. On Wednesday, many parts of Uttar Pradesh including the capital witnessed good rain, due to which the temperature also dropped. The Meteorological Department has also issued a warning of heavy rain in many districts of the state on Thursday.

    According to the forecast of the Meteorological Department, heavy rain may occur in Hardoi, Farrukhabad, Kannauj, Unnao, Kanpur, Agra and surrounding areas. People in these districts have also been advised to remain alert.

    – Advertisement –

    Meteorologist Atul Kumar Singh said that there was good rain in the eastern and southern parts on Wednesday. The heavy rain that occurred in the capital Lucknow on Tuesday evening continued on Wednesday as well. Due to rain in different parts of the capital, there was a drop in temperature. The weather department has predicted that there may be rain in the capital on Thursday as well. Apart from the capital, there was good rain in Kanpur, Shahjahanpur, Bahraich, Hardoi, Rae Bareli and Fatehpur.

    Also Read: It works like a passport at the airport, there is no need for a visa to go abroad

    Flood havoc in Lakhimpur Kheri

    On the other hand, the Ghaghra river is wreaking havoc in Lakhimpur Kheri district these days. It is engulfing people’s homes and agricultural land in no time. On the other hand, due to the negligence of the flood section, Majra Mathurpur of Gram Panchayat Sujanpur has come under the grip of Ghaghra river erosion for the third time within a decade. The distance between the river and the village is just 30 meters. Seeing the speed of erosion, there is panic among the villagers and they have started collecting household items in their homes while searching for a safe place.

    Related Articles:- 

    Centre Govt approves Aadhaar-based authentication of candidates in UPSC exams

    UPS vs NPS Pension Calculation: Know in which you will get more money

    Cabinet approves 12 industrial Smart Cities, will cover 10 states, know details

    – Advertisement –

  • India a bright spot, to remain fastest-growing major economy this year: Report

    India a bright spot, to remain fastest-growing major economy this year

    India a bright spot, to remain fastest-growing major economy this yearIANS

    Despite global macro-economic conditions, India continues to remain a bright spot and is expected to be the fastest-growing major economy this year, a report showed on Tuesday.

    The country has become the fifth-largest economy in the world, and is set to be among the top three global economic powers soon. Dr Gita Gopinath, Deputy Managing Director of the International Monetary Fund (IMF), stated last week that the country is likely to achieve this feat by 2027.

    The IMF has raised its economic growth forecast for the country for FY25 to 7 per cent from 6.8 per cent projected in April.

    The overall headline numbers of India’s economy are strong, reflecting a large amount of public investment which has been a critical factor driving growth.

    International Monetary Fund (IMF)

     The country has become the fifth-largest economy in the world, and is set to be among the top three global economic powers soonReuters

    According to the latest report by Motilal Oswal Private Wealth (MOPW), corporate earnings growth over the last five years has been stellar and this has been the primary driver of equity market performance.

    The report mentioned that for the top 500 listed companies (Nifty500), the PAT growth between FY19-24 was 22 per cent, and the total market cap of these companies has grown at the same rate during this period.

    “Earnings growth is expected to moderate going forward,” it added.

    In terms of valuations, large caps are in fair valuation while mid and small caps on aggregate are relatively expensive.

    In the fixed income market, on the back of favourable demand-supply dynamics and well contained inflation, the yield curve has started to gradually steepen — debt securities with 1-3 year maturity are trading at yields which are lower than those with 10 year and above maturity.

    “The RBI is likely to maintain status quo on interest rates this year with an eye on the US Fed rate actions,” the report noted.

    The Budget provided a fillip to multi-asset allocation funds, which invest in equity, debt and gold, and should be considered as a superior alternative to traditional fixed income.

    (With inputs from IANS)

     

  • Future outlook for residential market in India remains optimistic: Report

    Future outlook for residential market in India remains optimistic

    Future outlook for residential market in India remains optimisticIANS

    The future outlook for the real estate market remains in the optimistic territory in India, showcasing the sector’s resilience with notable activity in residential and office demands, a report showed on Wednesday.

    The Knight Frank–NAREDCO report cited that the ‘Current Sentiment Index Score’ has moderated to 65 from its all-time high in Q1 2024, indicating a measured outlook among stakeholders. Future sentiment score for this period also recorded a recalibration in Q2 2024 and was recorded at 65.

    The report mentioned that while both current and future sentiments remain firmly in the positive zone suggesting a continued belief in the sector’s long-term prospects, “the scores reflect a more tempered view on recent real estate growth, influenced by election and budget speculations”.

    Shishir Baijal, Chairman and Managing Director, Knight Frank India, said that the current and future sentiment score of 65 is still in positive. “The economy remains positive with key indicators seeing stability while remaining resilient against the global geo-political developments,” said Baijal.

    With positive sentiment driven by sustained growth in residential and office markets, this adjustment highlights the sector’s careful and measured approach, ensuring continued stability amidst ongoing economic and political developments, he added.

    Indexation removal on real estate won't hike tax burden, has limited impact

    Indexation removal on real estate won’t hike tax burden, has limited impactIANS

    The Future Sentiment Index has adjusted from 73 in Q1 2024 to 65 in Q2 2024, reflecting a positive yet more conservative outlook for the near term.

    According to the report, the residential market outlook in Q2 2024 sustains optimism with 63 per cent response rate for an expected rise in residential prices while 51 per cent of the stakeholders anticipate an increase in sales with a significant portion of 24 per cent respondents expect stability.

    “The office market outlook exhibits buoyancy on all key parameters – leasing, supply and rent as the stakeholders remained confident of the performance of this asset class in the next six months,” the findings showed.

    “The residential and office markets continue to show notable activity, signalling ongoing growth and opportunity. Developers and other key stakeholders, including banks and financial institutions, are maintaining a positive outlook,” said Hari Babu, President-NAREDCO.

    (With inputs from IANS)

     

  • Sensex down as panic selling grips Adani Group after Hindenburg report linking SEBI chief

    sensex

    Indian stock indices opened lower on Monday as heavyweights like Adani Group shares, RIL and ICICI Bank emerged as the top losers in the morning trade, after the Hindenburg report accused SEBI chief’s role.

    At 9:48 a.m., Sensex was down 325 points or 0.41 per cent at 79,353 and Nifty was down 115 points or 0.47 per cent at 24,253.

    The market trend remains negative. On the Bombay Stock Exchange (BSE), 1,078 shares were trading in the green, while 1,892 shares were in the red. Selling is being seen in midcap and smallcap stocks. Nifty Midcap 100 index is down 159 points or 0.28 per cent at 57,105 and Nifty Smallcap is down marginally by 16 points at 18,394.

    In the evening, the Centre will release retail inflation figures for July and industrial production figures for June. Among the sectoral indices, apart from realty, all other indices were trading in the red. Auto, IT, PSU bank, metal, media and energy are major laggards. In the Sensex pack, Asian Paints, JSW Steel, Tata Motors, Tech Mahindra, HDFC Bank, Sun Pharma, Maruti Suzuki and Infosys are top gainers.

    NTPC, Power Grid, SBI, ICICI Bank, RIL, Nestle, HCL Tech and TCS are the top losers. The foreign institutional investors (FIIs) turned net buyers as they bought equities worth Rs 406 crore on August 9, while domestic institutional investors bought equities worth Rs 3,979 crore on the same day. Mixed trading is taking place in Asian markets.

    sensex

    SensexIANS

    Tokyo, Bangkok, Seoul and Hong Kong are in the green while Shanghai and Jakarta are in the red. US markets closed in the green on Friday. Crude oil benchmark Brent crude is at $79.79 per barrel and WTI crude is at $77.09 per barrel. According to market experts, “Global as well as domestic factors are likely to influence the market this week.

    Globally stock markets will be keenly watching the US consumer data and the core CPI numbers which will indicate the strength/weakness of the US economy.” “It appears that the Hindenburg report is unlikely to impact the market meaningfully. The buy-on-dips strategy, which has been working well in this bull run, is likely to work again,” they added. 

    Hindenburg Fallout

    Meanwhile, latest Hindenburg allegations on SEBI chief marked rancour in the market circles and the Adani Group on Sunday vehemently rejected the latest allegations by Hindenburg Research as “malicious.”

    SEBI chief rebuts Hindenburg charges, calls it 'character assassination attempt'

    SEBI chief

    Earlier in the day, the Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch and her husband Dhaval Buch strongly denied the allegation levelled by Hindenburg Research against them.

    In a statement, they said, “It is unfortunate that Hindenburg Research against whom SEBI has taken an Enforcement action and issued a show cause notice has chosen to attempt character assassination in response to the same.”

    (With inputs from IANS)