India to target $300 billion bioeconomy by 2030
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Economic Times
11 minutes ago
- Economic Times
Dollar's slide may help IT add 70–300 basis points to Q1 revenues
ETtech Currency is set to overshadow volumes as growth drivers in the June-quarter toplines at Indian tech powerhouses, with a falling dollar giving the anticipated tepid sales some much-needed ballast amid an evident revenue slack in the industry's traditional money spinners either side of the Atlantic.A retreat for the dollar, which gives the rupee a tailwind, should boost Indian tech revenues by 70-300 basis points in the June quarter, analysts said. One basis point is a hundredth of a percentage point. The currency impact cited above, therefore, should expand revenues by 0.7 to 3 percentage the April-June quarter, most major currencies have appreciated on average versus the US Dollar (USD). For instance, the Indian Rupee (INR) appreciated 1%, the Pound Sterling (GBP) 6.2%, the Euro (EUR) 8%, the Australian Dollar (AUD) 2.6% and the Japanese Yen (JPY) grew 5.5%. A weak dollar against a basket of currencies will lead to 100-200 bps of on-quarter cross-currency tailwinds, Motilal Oswal said in a report. HSBC Global Research estimates the impact to range between 80-450 basis points. These movements are higher for companies with greater exposure to EUR, GBP and JPY such as Tata Consultancy Services (TCS), HCL Technologies, Coforge, KPIT, data from Kotak Institutional Equities showed. Currency movements are crucial because Indian IT firms earn a large share of their revenues in foreign currencies but spend in INR -- most of it on employee wages in India. Typically, a stronger dollar helps gain more revenues as most IT majors' over 40-50% revenue comes from the US. However, when the dollar weakens against other currencies such as GBP, EUR, or JPY, revenues earned in those regions helps boost the reported toplines in instance, India's largest software service provider, TCS, has the least dollar dependency among tier-1 companies and derives 50% of its revenues from non-USD currencies. It is expected to net a 211 basis points revenue upside in the second quarter of the ongoing fiscal. The maximum positive impact could be recorded by mid-sized firm KPIT at 299 basis points because it derives a substantial 72% of its revenues from non-USD markets, data by Kotak Institutional Equities showed."During the quarter, the Indian rupee has appreciated around 1% against the dollar which typically is not beneficial for exporters,' said Sumit Pokharna, IT analyst with Kotak Securities. 'However, the rupee has depreciated against other currencies in the 2.5-8% range. This is providing tailwinds for software services exporters on the US$ revenue growth from the previous quarter.'He added that tighter controls by companies on travel costs and hikes and some pulling back on compensation, will aid margins stability for large IT companies while expansion for select mid IT at a time when discretionary spending remains muted, and deal closure timelines are elongated, the exposure to other currencies is helping IT firms, Pokharna the flip side, companies like Persistent Systems and Mphasis, which have among the highest exposure to the US at 85% and 82%, respectively, the sequential benefit of the currency movement will be contained at 69 basis points and 75 basis points, respectively. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Markets need to see more than profits from Oyo Can Grasim's anti-competition charge against Asian Paints stand amid intense war Engine fuel switches or something else? One month on, still no word on what crashed AI 171 Delhivery survived the Meesho curveball. Can it keep on delivering profits? Stock Radar: Page Industries breaks out from Cup & Handle formation; stock hits fresh 52-week high For risk-takers with ability to stay invested for the long term: 5 small-caps from different sectors with upside potential of 5 to 32% Multibagger or IBC - Part 14: This auto ancillary with double-digit net margins is now getting EV-focused These mid-cap stocks with 'Strong Buy' & 'Buy' recos can rally over 25%, according to analysts
Hindustan Times
12 minutes ago
- Hindustan Times
Janaki film row: CBFC limits cuts to 2 in Suresh Gopi's film, producers agree
The Central Board of Film Certification (CBFC) on Wednesday said it was willing to revise its earlier demand for 96 cuts in the Malayalam film 'JSK: Janaki v/s State of Kerala' to just two cuts, which the producers of the film agreed to, marking the end of a three-week legal tussle. Suresh Gopi The film, starring Union minister of state and Bharatiya Janata Party leader Suresh Gopi and Anupama Parameshwaran in the lead roles, tells the story of a rape survivor fighting for justice. CBFC had objected to the name 'Janaki' in the title as well as the protagonist's name, claiming it refers to the Hindu goddess and that its usage in a film about sexual violence would offend religious sentiments. During the hearing of the case in the Kerala high court, CBFC counsel said that it was ready to grant the producers a censor certificate if they made two changes — one, the film's title be changed to 'Janaki V v/s state of Kerala' indicating the character's initials and two, the name Janaki be muted in two scenes in the film. The producers agreed to the changes during the hearing. Advocate Haris Beeran, appearing for the producers, told reporters that his client agreed to the changes suggested by CBFC as they were facing mounting financial losses due to the delay in the release of the film. 'This is a case that we can win 100% on appeal. But, the producers have taken a commercial call. They are facing financial losses due to the delay in the film's release. They also have an OTT deal that they have to adhere to. That's why, they have agreed to make the changes. The high court has ordered CBFC to grant the censor certificate within three days of re-submission of the application. So hopefully, the film can release by next Friday,' Beeran told reporters. The Censor Board had earlier refused to grant certification unless the title was changed, citing potential religious sensitivity, as 'Janaki' is also an alternative name for the Hindu goddess Sita. Pravin Narayanan, the film's director, said that they would attempt to make the changes and re-submit the application for censor certificate within the next two days. 'We have reached an amicable solution. As an artiste, it's difficult to make such changes, but somewhere, we will have to compromise,' he said.
Hans India
18 minutes ago
- Hans India
Shivraj Chouhan to chair high-level meet on cotton crisis in Coimbatore
Chennai: In a significant move to address the ongoing crisis in cotton cultivation, Union Minister for Agriculture, Farmers Welfare, and Rural Development Shivraj Singh Chouhan will chair a high-level meeting in Coimbatore, Tamil Nadu, on Friday. The meeting will focus on strategies to enhance cotton productivity, tackle viral infestations, and ensure the availability of high-quality seeds to farmers. The Ministry of Agriculture and Farmers Welfare stated that the meeting would bring together a wide spectrum of stakeholders, including cotton farmers, scientists, agriculture ministers from cotton-growing states, senior government officials, representatives from the cotton industry, and agricultural universities. 'Cotton production in India has been steadily declining, mainly due to the TSV virus affecting BT cotton,' Minister Chouhan said in a video message ahead of the meeting. He emphasised that the purpose of the gathering is to conduct an in-depth discussion on boosting productivity, reducing input costs, and developing high-quality, climate-resilient seed varieties. 'This meeting aims to create a practical and sustainable roadmap for the revival of cotton cultivation in the country,' he said. Chouhan reiterated the Centre's strong commitment to improving the welfare of farmers. 'It is our firm resolve to enhance cotton production and uplift the livelihoods of our cotton-growing brothers and sisters. The challenges we face can only be overcome through collective effort,' he noted. To ensure wider participation and gather inputs from the grassroots, the Ministry has also launched a toll-free helpline -- 1800 180 1551 -- inviting cotton farmers from across the country to share their suggestions, experiences, and concerns. The minister assured that all inputs received through the helpline would be taken seriously and considered in policy formulation. The meeting is scheduled to begin at 10.00 a.m. on July 11 and is expected to witness the active participation of senior officials, top scientists, and policy-makers, including the Director General of the Indian Council of Agricultural Research (ICAR). Issuing a heartfelt appeal to the farming community, Chouhan said, 'Together, we will overcome this challenge and bring about a revival in cotton production in India. Your insights will help shape policies that are rooted in real-world challenges.' The meeting in Coimbatore is seen as a critical step towards restoring the health of India's cotton sector and ensuring long-term sustainability for millions of farmers who depend on it.
