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Time of India
5 days ago
- Politics
- Time of India
'Samajwadi Party's bicycle will soon get punctured': UP Deputy CM Maurya
Uttar Pradesh Deputy Chief Minister Keshav Prasad Maurya on Sunday took a jibe at the Samajwadi Party , alleging that the party has been surviving on bogus votes. Speaking to reporters in Lucknow, the Deputy Chief Minister said, "The Samajwadi Party's bicycle, which has been running on the strength of fake votes, will get punctured in the future." Explore courses from Top Institutes in Please select course: Select a Course Category healthcare Data Science Healthcare Digital Marketing MBA Data Science CXO Technology Design Thinking Degree Data Analytics Leadership Project Management Artificial Intelligence PGDM Operations Management Cybersecurity Public Policy Finance Management others Product Management Others MCA Skills you'll gain: Duration: 11 Months IIM Lucknow CERT-IIML Healthcare Management India Starts on undefined Get Details Earlier last week, in a heated exchange over the Bihar Special Intensive Revision (SIR) issue, Samajwadi Party chief Akhilesh Yadav launched a sharp attack on the BJP , alleging that the ruling party uses machines capable of generating Aadhaar and voter ID cards within minutes on election day. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo Speaking at the Conference, Yadav said, "The BJP has a machine that can produce Aadhaar cards in five minutes, enabling them to create Aadhaar cards and voter IDs on election day. In this election, we will also buy and deploy that machine at every booth, which we learned from the BJP people. BJP can easily produce plastic cards, so we want metal cards to be issued instead. We will not boycott, but we will defeat the BJP together." Meanwhile, Congress MP KC Venugopal on Sunday stated that his party is going to reveal the "serious malpractices" of the Election Commission of India in Bengaluru on August 5. Live Events Speaking to ANI, Venugopal alleged that the names of many voters have been "excluded" from the draft electoral rolls for Bihar recently released by the EC. He further said that there will be a get-together of opposition INDIA bloc leaders on August 7 in Delhi. "There will be a get-together on August 7 in Delhi. INDIA alliance leaders will be there," Venugopal said.
Time of India
6 days ago
- Business
- Time of India
Muted Q1 earnings point to weakening micro: Is the easy money phase over?
We are now exactly at the halfway mark of the earnings season. Among BSE 500 companies, nearly 50% have declared their results for the June quarter. So far, the earnings trend has been underwhelming — far from anything to write home about. Of course, no one expected blockbuster results this quarter. Even on that muted backdrop, the reported numbers have largely disappointed. Given the election-related disruptions in the base quarter last year, many had expected a natural tailwind from the low base effect to support growth this quarter. Explore courses from Top Institutes in Please select course: Select a Course Category healthcare Public Policy Management Data Science Leadership Digital Marketing Product Management CXO others Degree Design Thinking Operations Management Others Technology MBA Cybersecurity MCA Project Management Finance PGDM Healthcare Data Analytics Data Science Artificial Intelligence Skills you'll gain: Duration: 11 Months IIM Lucknow CERT-IIML Healthcare Management India Starts on undefined Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like No annual fees for life UnionBank Credit Card Apply Now Undo Instead, we're seeing several companies struggle to post even modest growth. This implies that the current softness may not be a one-off. If it's not just a passing blip, are we staring at a deeper growth challenge for the economy in the medium term? To better understand the underlying trends, it's useful to look at key takeaways from the management commentaries of some prominent companies that have reported earnings so far. Let's start with banking The surprise here isn't muted credit growth — that has been subdued for a few quarters now. There was no respite from that trend this quarter either, despite a recovery in overall sentiment. In fact, credit growth has fallen further over the past three months. Live Events From hovering around mid-teen levels in Q4 FY24, credit growth has sharply declined to single digits in this quarter, after staying in the low teens for the past three quarters. However, the bigger negative surprise came from commentary around the unsecured segment — particularly from the management of leading NBFCs and banks. Managements have raised red flags over the unsecured loan book in MSME and business loan segments. They are pointing to over-leveraged customers (loans from multiple banks), which could hit credit quality and severely impact growth in the coming months. This signals growing stress in the MSME segment, which could significantly constrain growth if the pressure continues. Deteriorating asset quality and rising slippages in MSME retail loans across banks support this concern. Combined with continued stress in the microfinance segment and a general credit slowdown, the prospects of a sharp economic rebound look dim. For banks, pressure on Net Interest Margins (NIMs) couldn't have come at a worse time. With successive rate cuts, lending rates have declined, while deposit rates lag behind — squeezing NIMs in the short term. This pressure is emerging just when growth is scarce and credit costs are rising (due to higher provisions), severely impacting profitability for many banks. Not to forget, banking stocks were the consensus buy at the beginning of the quarter — seen as undervalued plays amid the market's sharp recovery from March lows. Unfortunately, earnings told a different story. The wait for a much-anticipated rerating in banking stocks only gets longer. Circling back to asset quality in retail, further evidence of stress is visible in the credit card segment. While the slowdown in new credit card additions is well known, growing delinquencies have not received as much attention. Based on the Portfolio at Risk (PAR) metric, long-term delinquencies (PAR over 90 days) have surged to 15%, indicating rising repayment pressure among overdue accounts. Turning to IT — another sector with equally disappointing earnings. Bellwether companies reported sequential declines in both revenue and profitability. With muted guidance from major players, we are looking at another year of low single-digit dollar revenue growth. But that's only part of the story. While revenues may inch up, the real pain lies in job losses triggered by productivity gains from the AI push. If TCS's recent 2% layoff announcement is followed by others in the industry, the second-order effects on broader economic activity could be ominous. Coming at a time when MSMEs are already under stress — as echoed in banks' commentary — the medium-term growth outlook is looking increasingly fragile. That said, the economy does have some bright spots. There are no complaints about the agriculture sector's growth prospects, given the robust monsoon outlook this year. While this alone cannot offset the potential slowdown in consumption, it can offer some relief — especially if backed by sustained government capital expenditure (capex), which remains critical given the weakness in private capex. Government capex had been a strong driver until FY24, but last year exposed its limitations. Capacity constraints in traditional infrastructure segments like roads, railways, and general infra have started to impact execution. In response, the government is exploring new areas — such as urban water infrastructure (including wastewater treatment) and shipbuilding — to accelerate capex. If successful, these efforts could significantly improve the economic outlook. For investors, these are not easy times to navigate While benign macro conditions are helping prevent sharp market corrections, weakening micro fundamentals may keep markets in check and delay the breakout many are hoping for. In such an environment, investors must adopt a stock-specific approach — seeking bottom-up opportunities. The era of easy money appears to be behind us. Going forward, spotting the next winners will depend more on skill than luck. (The author, ArunaGiri N is the Founder CEO & Fund Manager at TrustLine Holdings)
Time of India
7 days ago
- Business
- Time of India
Brookfield India REIT Q1 net operating income rises 13 pc to Rs 499 cr
New Delhi: Brookfield India Real Estate Trust has posted 13 per cent increase in its net operating income to Rs 498.6 crore for the first quarter of this fiscal year and announced plans to raise up to Rs 1,000 crore through issue of preferential units to investors. Its Net Operating Income (NOI), which is revenue from operation minus direct operating expenses, stood at Rs 439.9 crore in the year-ago period, according to a regulatory filing on Friday. Explore courses from Top Institutes in Please select course: Select a Course Category healthcare Data Science Management Healthcare CXO Finance Degree Operations Management Product Management Data Science Digital Marketing MBA others Leadership MCA Artificial Intelligence Others PGDM Cybersecurity Public Policy Design Thinking Technology Data Analytics Project Management Skills you'll gain: Duration: 11 Months IIM Lucknow CERT-IIML Healthcare Management India Starts on undefined Get Details The company, an institutionally managed real estate investment trust (REIT) backed by rent-yielding office assets, announced distribution of Rs 319 crore to unitholders (Rs 5.25 per unit) for June quarter of 2025-26 fiscal. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Looking for a Solar Panel System? Compare Offers Now Solar panel | Search Ads Learn More Brookfield India REIT also plans to raise up to Rs 1,000 crore through issue of preferential units to investors. It will issue up to 3.23 crore units at Rs 310 per unit. "The fiscal year began on a strong note with healthy leasing momentum , robust occupancy levels , and continued growth in distributions," said Alok Aggarwal, Chief Executive Officer and Managing Director, Brookfield India REIT. Live Events He noted that the company's operating performance remains resilient on steady demand for its high-quality assets across key markets. The company leased 6.51 lakh square feet area in the June quarter. The occupancy level has improved to 89 per cent. "Our proposed fund raise of Rs 10 billion through preferential issue will further strengthen our ability to pursue large growth opportunities," Aggarwal said. The board has approved a preferential issue of Rs 1,000 crore to a mix of investors including corporate treasuries, family offices and high net-worth individuals. "This fund raise, combined with the Rs 3,500 crore raised in December 2024, will strengthen our capacity to pursue large growth opportunities," the company said. Brookfield India REIT also said that it is in talks with the sponsor group for potential acquisition of grade A properties across Bengaluru and Chennai. The REIT has 10 Grade A commercial assets in Delhi, Mumbai, Gurugram, Noida, Kolkata. Its portfolio consists of 29 million square feet of total leasable area, comprising 24.5 million square feet of operating area, 0.6 million square feet of under construction area and 3.9 million square feet of future development potential.
Time of India
7 days ago
- Business
- Time of India
Energy storage to hit record high
India's energy storage push hit a record in July, with states tendering 8.1 GWh of capacity, the highest-ever for a month. Auctions discovered a record low tariff of ₹3.13 per unit in solar-plus-storage projects with four hours of storage supply. Explore courses from Top Institutes in Please select course: Select a Course Category healthcare Design Thinking Data Science MCA Product Management PGDM Others Leadership Public Policy Degree Data Science others Healthcare Digital Marketing Project Management Cybersecurity Data Analytics CXO Operations Management Technology MBA Finance Management Artificial Intelligence Skills you'll gain: Duration: 11 Months IIM Lucknow CERT-IIML Healthcare Management India Starts on undefined Get Details The last discovered record tariff in the same category-with four hours of storage supply- was ₹3.32 per unit. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 15 most beautiful women in the world Undo Energy storage projects are gaining pace as states opt for round-the-clock energy, fulfil renewable purchase obligations, and manage evening peak demand with support from the new viability gap funding (VGF) scheme for battery energy storage system (BESS). The power ministry recently launched the VGF scheme for BESS of up to 30 GWh capacity with support from the Power System Development Fund (PSDF). This is in addition to the 13.2 GWh already in place. Live Events With the new VGF scheme window open for a year, states are trying to make the most of it, according to industry experts. "Battery storage capacities have been increasing not just in the number of projects being set up, but also in the size of projects," said Debmalya Sen, president, India Energy Storage Alliance (IESA). Recent bids from Rajasthan, Gujarat, and Maharashtra have shown 2 GWh and 4GWh capacities being shared under the new VGF scheme, Sen added. Almost a third of the 30 GWh capacity in the scheme has been tendered out. The tariff discoveries have been supporting the aim to set up higher capacity-projects with 4-hour one-cycle gaining traction and rates falling to ₹3.59 lakh/MW/month from 4.41 lakh/MW/month in six months.
Time of India
01-08-2025
- Politics
- Time of India
Ex-cop alleges he was ordered to arrest RSS chief Mohan Bhagwat to frame 'Bhagwa Terror' narrative in Malegaon blast case
A retired police officer has alleged that he was instructed to arrest Rashtriya Swayamsevak Sangh (RSS) chief Mohan Bhagwat to build a narrative around "Bhagwa terror" in the 2008 Malegaon blast case , The Times of India has reported. The claim comes days after a special NIA court acquitted all seven accused, including BJP MP Pragya Thakur and Lieutenant Colonel Prasad Purohit , citing lack of credible evidence. Explore courses from Top Institutes in Please select course: Select a Course Category healthcare Technology Data Science Data Analytics Data Science MBA Leadership Operations Management Cybersecurity Project Management Management Public Policy PGDM CXO Others Product Management Degree others Digital Marketing MCA Design Thinking Healthcare Finance Skills you'll gain: Duration: 11 Months IIM Lucknow CERT-IIML Healthcare Management India Starts on undefined Get Details In a statement quoted by TOI, retired inspector Mehiboob Mujawar, who was part of the Maharashtra Anti-Terrorism Squad (ATS) that initially probed the blast, said the recent acquittal had exposed the 'fake things' done during the investigation. 'The verdict exposed the fake investigation done by a fake officer,' Mujawar said, directly naming a senior ATS official. He further alleged that he received confidential orders to act against several individuals, including Ram Kalsangra, Sandip Dange, Dilip Patidar, and RSS chief Mohan Bhagwat. Live Events 'I can not say what investigation the ATS did then and why... But I was given some confidential orders regarding personalities like Ram Kalsangra, Sandip Dange, Dilip Patidar and RSS chief Mohan Bhagwat. All these orders were not such that one could follow them,' TOI quoted Mujawar as saying. He claimed he chose not to comply with the orders because he found them 'horrific' and 'knew the reality.' 'It was beyond my capacity to apprehend a towering personality like Mohan Bhagwat. As I did not follow the orders, a false case was registered against me and it destroyed my career of 40 years,' he added. Mujawar said he has documentary proof to support his claims and insisted that the saffron terror theory was fabricated. 'There was no saffron terrorism. Everything was fake,' he said. The Malegaon blast on September 29, 2008, killed six people and injured several others. The explosion took place near a mosque during Ramzan and on the eve of Navratri. The Maharashtra ATS, then led by the late Hemant Karkare, had arrested Pragya Thakur and Prasad Purohit, alleging that the motorcycle used in the blast belonged to Thakur, and that Purohit had sourced RDX from Jammu and Kashmir.
