 "Top headlines: Likely profitable Q4 for India Inc, rural FMCG sales up")
Results preview: India Inc likely to report highly profitable Q4
Brokerages expect India Inc to report an upturn in earnings for the March quarter of 2022-23, after a relatively muted showing in the previous two quarters. This growth is expected to be led by banking, financial services and insurance (BFSI) companies, FMCG firms, and automobile makers. Read more...
FMCG sales: Rural India pulls ahead in Q4FY23, shows Bizom data
Sales of fast-moving consumer goods (FMCG) in rural areas rose sharply in the fourth quarter of 2022-23, while urban sales grew at a slower clip. As a result, sales for the whole year as well grew faster in rural areas than urban, according to the data from Bizom, a retail intelligence platform. The rural push is being attributed to stocking up at kirana stores across product categories, as well as a push to build stocks for summer products driven by forecasts of unusually high temperatures. Read more...
Amid tension with China, India looks to Taiwan for high-tech imports
As relations between the two neighbours remain strained, India seems to be working to reduce its dependence on China for telecom instruments and electronic components by increasing its imports from Taiwan. During April-February 2022-23, Taiwan’s share in India’s import of telecom instruments jumped to 9 per cent from 2.3 per cent in the same period a year earlier. Though China continued to be India’s major source of high-tech imports, its share declined from 45.8 per cent to 43 per cent during this period. Read more...
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State Bank of India to consider raising $2 billion via offshore bonds
State Bank of India, the country's largest lender, said on Monday it will consider raising $2 billion via offshore bonds.
The board will meet on April 18 to consider the fund raising, through a public offer or private placement of senior unsecured notes in US dollar or any other convertible foreign currency during the financial Year 2023-24, the bank said in an exchange filing. Read more...
Lenders to step up work on large size loans under MUDRA scheme
Lenders are looking to broad-base working under the Mudra scheme by enhancing the number of loans in the over Rs 50,000- Rs 10 lakh categories to help businesses scale up operations. Going by data released on Pradhan Mantri Mudra Yojana (PMMY) by the ministry of finance, there is a skewed distribution with the Shishu category (up to Rs 50,000) cornering 83 per cent of the loans (in number), Read more...