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Q4 results today: Adani Power, Indian Oil, Vedanta, Moil, Crisil on Apr 30
Adani Power, Indian Oil Corporation, and Jindal Steel & Power will be among 51 companies that will release their earnings report for the fourth quarter (Q4) of the financial year 2024-25 (FY25) on Wednesday, April 30. These companies will also release their performance report for the entire financial year that ended on March 31, 2025. Mining companies Vedanta and Moil will also be disclosing their fourth-quarter earnings today. Other major firms to release their performance reports for the Jan-Mar quarter include Crisil, Varun Beverage, and Federal Bank. Market overview April 30The Indian equity markets closed Tuesday's session on a slightly positive note, albeit in a lacklustre manner. The BSE Sensex ended at 80,288, gaining 70 points or 0.09 per cent, while the NSE Nifty50 closed at 24,336, up 7 points or 0.03 per cent. ALSO READ: Sell stocks in May and go away? Here's what analysts suggest you do The market's sentiment today is likely to be influenced by US President Donald Trump's optimistic remarks on the progress of trade negotiations with India, Japan, and South Korea. Additionally, Trump's executive order aimed at reducing tariffs on certain automotive imports could boost market momentum. Investors will also monitor global market movements, the ongoing tensions between India and Pakistan, and the actions of foreign institutional investors. Company earnings reports are expected to add further volatility. As of 7:57 am, GIFT Nifty futures were trading at 24,359, reflecting a slight gap of around 60 points below the Nifty's previous close. Follow the latest market updates here: Stock Market LIVE Updates List of firms releasing Q4 FY25 results on April 30Adani Power LtdAeroflex Industries LtdAjanta Pharma LtdBandhan Bank LtdBEML Land Assets LtdCoromandel International LtdCRISIL LtdElantas Beck India LtdEquitas Small Finance Bank LtdExide Industries LtdThe Federal Bank LtdForbes & Company LtdGo Fashion (India) LtdGodrej Agrovet LtdGreaves Cotton LtdOrient Green Power Company LtdIndus Towers LtdIndian Oil Corporation LtdJagjanani Textiles LtdJindal Steel & Power LtdJSW Infrastructure LtdKrystal Integrated Services LtdKSB LtdL G Balakrishnan & Bros LtdLKP Securities LtdMAS Financial Services LtdMOIL LtdMukesh Babu Financial Services LtdParas Defence and Space Technologies LtdThe Phoenix Mills LtdThe Phosphate Company LtdPunjab Chemicals & Crop Protection LtdQuint Digital LtdRajkamal Synthetics LtdRaghav Productivity Enhancers LtdR.S. Software (India) LtdSagar Systech LtdSatchmo Holdings LtdSattva Sukun Lifecare LtdShradha AI Technologies LtdSkipper LtdSona BLW Precision Forgings LtdSRG Housing Finance LtdSundram Fasteners LtdSwastika Investmart LtdUjjivan Small Finance Bank LtdVarun Beverages LtdVedanta LtdVentura Textiles LtdVertext Securities LtdWardwizard Innovations & Mobility Ltd
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Min 40% off on ACs from LG, Samsung, Godrej and more on Amazon: Top deals on a range of ACs
Looking to beat the heat with an AC but on a budget? Amazon's latest sale is offering a minimum of 40% off on top-rated air conditioners from trusted brands like LG, Samsung, Godrej, Lloyd, and more. 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Mint
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GDP's dirty little secret: Why we should be tracking GVA instead
Gross domestic product (GDP) growth rate is the headline number everyone tracks to figure out how the economy is doing. It's time we shifted focus to gross value added, or GVA, which is a more direct measure of the incomes generated in the economy. That's because GDP numbers are affected by random decisions by the GST Council to raise tax rates or by the government to slash subsidies. Cut subsidies, boost growth. Such a prescription might seem like snake oil for the consumption of the simpleminded. But cutting subsidies has, indeed, been the simple route to boost GDP growth in India. India's GDP growth in the final quarter of 2024-25 was a dramatic 7.4%. The growth in GVA, which is what counts for creating jobs and putting income in the hands of people, was a more modest 6.8%. The divergence between the growth rates of GDP (6.5%) and GVA (6.4%) has been modest for 2024-25 as a whole. It was starker in 2023-24, when the GDP growth rate was 9.2%, while GVA grew by only 8.6%. 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In India, too, many economists have used this approach – not to genuinely foster growth, but rather to dismiss the government's significant role in the economy by labelling it 'socialism' that curtails capitalist dynamism. The NDA government came to power as a slayer of big government and socialism. It once portrayed the Mahatma Gandhi National Rural Employment Guarantee Scheme as a monument of national failure. But, in the face of revealed distress in the economy, it has also assiduously funded the scheme, regardless of how this made the 'monument of failure' shine brighter. There is a big difference between the role the state and subsidies play in an economy like the US and in India, whose per-capita GDP is 3% of the US's $89,000. The way India's GDP is computed allows for a lower subsidy bill to boost GDP, whatever the role of subsidies in supporting subsistence and sustaining growth. GVA is what really matters While GDP is the headline number on everyone's radar, what matters for creating jobs and incomes is GVA. GVA and GDP are highly correlated but not quite the same. The total value that is generated in an economy breaks down into gross profits and the sum total of wages and salaries. GDP is the value of all final goods and services produced and sold in the economy, whether for consumption, investment or export, net of the imports that go into the production of those goods and services. By taking into account only the final goods, we avoid double counting. Steel goes into machinery, construction, washing machines and safety pins. We look at only the value of these final goods, and not the value of the steel produced. Also read | Kaushik Basu: Redefine prosperity; GDP tunnel-vision could prove costly National income can be estimated either from the income side or the expenditure side. Data on income is hard to capture directly on a comprehensive basis, and it is easier to estimate the expenditure on things. When you buy pills, an X-Ray machine, or lab test, what you pay for includes the tax on the good or service. Some of the goods you buy are subsidised by the government, so the price is lower than the actual value – grain from the fair price shop, or electricity in many states for certain classes of consumers are just two examples of this. So, to arrive at the GVA of the economy, you must add up the total expenditure on final goods and services, which will give you GDP, subtract the taxes borne by these goods and services, and add back the subsidies that artificially lowered your expenditure. In other words, GVA = GDP - tax + subsidy. In other words, GDP = GVA + tax - subsidy. Taxes net of subsidies are called net taxes. So GDP = GVA + net taxes. For the same level of value added in the economy, you can have a higher or lower level of GDP by raising or lowering net taxes. You can raise net taxes by raising taxes, lowering the subsidy outgo, or both. You can lower net taxes by lowering tax collections or increasing the subsidy bill. As you can see from the table, when the GVA growth rate increased from 6.7% in 2022-23 to 8.6% the following year, that is, by 1.9 percentage points, the GDP growth rate rose 2.2 percentage points, from 7% to 9.2%. This was effected by reducing the outlays on major subsidies from 2% of GDP to 1.37% of GDP – a decline of 31.5%. Another 15.5% drop in the subsidy/GDP ratio helped boost the GDP number in 2024-25. To get a grip on economic activity and the incomes it generates, it is more useful to look at GVA, rather than GDP, since GDP is affected by changes to subsidy allocations. Also read: Mint Quick Edit | India's GDP: A key test lies ahead
Time of India
26 minutes ago
- Time of India
Can rupee recover from its worst fall in over a month due to rising oil prices?
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