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<ul><li>Experts expect the <keyword id="30067" type="General" weightage="20" keywordseo="rbi" source="Orion">RBI</keyword> to deliver a couple of more 50 bps rate hikes during the course of this fiscal year.</li><li><keyword id="22195" type="General" weightage="20" keywordseo="inflation" source="Orion">Inflation</keyword> continues to trend above the RBI’s comfort level with its year-end target at 6%. </li><li>As real interest rates continue to be below inflation levels, RBI will be forced to hike repo rate further from the current 5.4%.</li></ul> The <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> delivered yet another rate hike of 50 basis points (100 basis points equal to 1 percentage point), but it is nowhere near done. Given that inflation continues to above the central bank’s targeted upper tolerance band of 6%, rate hikes are expected to be front-loaded. Clearly, 50 basis point rate hikes are the new normal. While this is good news for depositors, who will earn more from fixed income instruments, borrowers will, unfortunately, pay more. Economists and fixed income experts at mutual fund houses expect the RBI to deliver a couple of more 50 bps rate hikes during the course of this fiscal year. Why are interest rates negative? The central bank has been battling a Black Swan events like the Russian invasion of Ukraine and its consequent impact on prices of products ranging from base metals, crude oil to edible oil. While prices of several commodities have cooled down, given that real interest rates continue to be negative, the central bank will continue to increase rates to suck out liquidity from the system to curb prices. Interest rates are considered to be negative when inflation is higher than interest rates, which means that your money is losing value when you keep money in banks as deposits. Interest rates are positive when the benchmark interest rates are higher than inflation. The central bank during the pandemic cut interest rates by 115 basis points, with the key repo rate dropping to 4%. This made loans significantly cheaper for borrowers till the middle of this year. But this cycle is now set to turn, making loans of all kinds more expensive. According to <keyword id="130246" type="General" weightage="50" keywordseo="abheek-barua" source="Orion">Abheek Barua</keyword>, chief economist and executive VP at HDFC Bank, “We expect the RBI to continue with its rate hikes in the upcoming policies taking rates up to 5.75% by the end of the year.” Given that repo rate is at 5.4% and inflation estimate is at 6.7%, the RBI will have to deliver several more rate hikes to take the policy rates even to neutral territory if not positive. Akhil Mittal, senior fund manager-fixed income, <keyword id="128170" type="General" weightage="50" keywordseo="tata-mutual-fund" source="Orion">Tata Mutual Fund</keyword>, is of the view that RBI has taken inflation head-on by raising rates by 50 basis points. “The endeavour to get real rates in positive territory, as mentioned earlier by RBI, gets closer with this move and we expect another 50-bps rate hike by MPC over next couple of MPC meetings before the pause,” he says. <keyword id="42546" type="General" weightage="20" keywordseo="growth" source="Orion">Growth</keyword>, not <keyword id="6357558" type="General" weightage="20" keywordseo="recession" source="Orion">recession</keyword> like other economies Typically when interest cycle turns, growth often comes under pressure as higher prices tend to dent demand and higher inflation expectations prevent companies from undertaking capital expenditure. But in this cycle, the RBI does not expect growth to be impacted and has retained the GDP forecast at 7.2% for FY23. Says Nilesh Shah, group president and MD, Kotak Mahindra Asset Management Company, “The RBI’s hike of 50 bps in repo rate is front-loaded to ensure that easing inflation comes below RBIs upper band of 6% by the fourth quarter of FY23. Since growth is becoming broad-based and private capex is showing signs of revival, the RBI has front-loaded repo rate hike to control inflation. Interestingly, the RBI has kept the Indian economy flying high (7.2 % GDP growth in FY23) through turbulent weather. The RBI has clearly differentiated itself vis a vis many other central banks which are looking to hard land their economy (recession in FY23) to bring down inflation.” SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/globalized-inflation-is-threat-to-global-economy-itself-says-rbi-guv-das/articleshow/93366552.cms">Globalized inflation is a threat to global economy itself, says RBI guv Das</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/hdfc-seals-worlds-largest-social-loan-worth-1-1-billion-for-affordable-housing/articleshow/93366669.cms">HDFC seals world’s largest social loan worth $1.1 billion for affordable housing</a>

Shakti’s Gati on interest rate hikes to continue

Finance minister Nirmala Sitharaman on Tuesday announced the <keyword id="12280048" type="General" weightage="20" keywordseo="pm-gati-shakti" source="Orion">PM Gati Shakti</keyword> National Master Plan aimed at making logistics connectivity seamless across the length and breadth of the country. Sitharaman described the <keyword id="11977289" type="General" weightage="20" keywordseo="gati-shakti" source="Orion">Gati Shakti</keyword> plan – a massive infrastructure development undertaking – to encompass the ‘engines’ of growth, namely roads, railways, mass transport, seamless multi-modal connectivity. In deference to the request from many states, the outlay of the Scheme for Financial Assistance to states has been increased from ₹10,000 crore to ₹15,000 crore. The allocation for FY23 is ₹1 lakh crore to catalyse overall investments in the economy. The 50-year interest free bonds are over and above the normal borrowings by the states. This will be used for Gati Shakti, rural road projects, town planning schemes etc. The Gati Shakti project aims to create a synergy between infrastructure and logistics, both of people and goods, and location of projects. Here are the key takeaways of the announcements under the PM Gati Shakti National Master Plan: <ul><li>A scheme for expressways will be formulated in 2022-23 to facilitate faster movement of people and goods.</li><li>The national highways network will be expanded by 25,000 kilometres in 2022-23, with an outlay of INR 20,000 crores via financing.</li><li>A new Unified Logistics Interface Platform will be brought in to facilitate data exchange between operators across different modes of transport, aimed at implementing a just-in-time approach for logistics management and giving access to real-time information to operators.</li><li>A new open-source mobility stack for organising seamless travel of passengers will be facilitated.</li><li>Contracts for implementation of multi-modal logistics parks at four locations will be awarded on a public-private-partnership (PPP) mode in 2022-23.</li><li>Railways will develop new products and logistics services for small farmers, and small and medium enterprises.</li><li>Railways will integrate railways and postal networks for seamless movement of parcels.</li><li>A 2,000-kilometre railway network will be brought under ‘Kavach’ for safety and capacity augmentation.</li><li>400 new-generation Vande Bharat trains with better energy efficiency and passenger riding experience will be developed and manufactured over the next three years.</li><li>100 PM Gati Shakti cargo terminals for multi-modal logistics facilities will be developed in the next three years.</li><li>‘Innovative’ financing options will be encouraged for building metro systems of appropriate type and scale.</li><li>Facilitation of multi-model connectivity options between mass urban transport and railway stations.</li><li>Standardisation of metro systems and civil structures based on Indian needs.</li><li>Parvatmala, a preferred ecologically sustainable alternative to conventional road systems in hilly areas – also known as National Ropeways Development Programme, will be undertaken in PPP mode.</li></ul>SEE ALSO: <a href="https://www.businessinsider.in/budget/news/union-budget-2022-speech-highlights-and-updates-from-finance-minister-nirmala-sitharaman/articleshow/89264352.cms">Budget 2022: Watch out for the highlights from Finance Minister Nirmala Sitharaman’s speech</a> <a href="https://www.businessinsider.in/budget/news/minda-industries-sona-comstar-greaves-cotton-amongst-biggest-gainers-as-investors-bet-on-budget-2022-being-ev-friendly/articleshow/89264077.cms">Minda Industries, Sona Comstar, Greaves Cotton amongst biggest gainers as investors bet on Budget 2022 being EV-friendly</a> <a href="https://www.businessinsider.in/stock-market/news/shares-of-fmcg-companies-rise-on-hopes-of-consumption-boost-for-the-sector/articleshow/89263952.cms">Britannia, Dabur, Marico surge on hopes that budget will leave people with more money to buy stuff</a>

PM Gati Shakti National Master Plan aims to bring synergy between infrastructure and logistics across the length and breadth of India

The <keyword id="50190" type="General" weightage="80" keywordseo="asian-development-bank" source="Orion">Asian Development Bank</keyword> on Tuesday said <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword>'s economic growth is expected to moderate to 6.4 per cent in the current financial year due to tight monetary conditions and elevated oil prices as compared to a 6.8 per cent expansion for the financial year ended March 2023. However, <keyword id="6355976" type="General" weightage="80" keywordseo="adb" source="Orion">ADB</keyword> expects the country's economic growth to accelerate to 6.7 per cent in FY25 driven by private consumption and private investment on the back of government policies to improve transport infrastructure, logistics, and the business ecosystem. The projections are part of the latest edition of ADB's flagship economic publication, <keyword id="1006845" type="General" weightage="50" keywordseo="asian-development-outlook" source="Orion">Asian Development Outlook</keyword> (<keyword id="199985" type="General" weightage="50" keywordseo="ado" source="Orion">ADO</keyword>) April 2023. The growth moderation for India in FY24 is premised on an ongoing global economic slowdown, tight monetary conditions, and elevated oil prices, the report said. However, FY25 is expected to see faster growth in investment, thanks to supportive government policies and sound macroeconomic fundamentals, lower non-performing loans in banks, and significant corporate deleveraging that will enhance bank lending, it said. ADB Country Director for <keyword id="17036939" type="General" weightage="50" keywordseo="india-takeo-konishi" source="Orion">India Takeo Konishi</keyword> said that despite the global slowdown, India's economic growth rate is stronger than many peer economies and reflects relatively robust domestic consumption and lesser dependence on global demand. "The Government of India's strong infrastructure push under Prime Minister's Gati Shakti (National Master Plan for Multimodal Connectivity) initiative, logistics development, and industrial corridor development will contribute significantly to raising industrial competitiveness and boosting future growth," he said. Improving labour market conditions and consumer confidence will drive growth in private consumption, ADB said, adding that the central government's commitment to significantly increase capital expenditure in FY24 despite targeting a lower fiscal deficit of 5.9 per cent of GDP will also spur demand. Helped by a recovery in tourism and other contact services, the services sector will grow strongly in FY24 and FY25 as the impact of COVID-19 wanes, it said. However, ADB noted that manufacturing growth in FY24 is expected to be tamped down by a weak global demand but it will likely improve in FY25. Recent announcements to boost agricultural productivity such as setting up digital services for crop planning and support for agriculture startups will be important in sustaining agriculture growth in the medium term. "Inflation will likely moderate to 5 per cent in 2023-24, assuming moderation in oil and food prices, and slow further to 4.5 per cent in 2024-25 as inflationary pressures subside," it said. In tandem, ADB said that monetary policy in FY24 is expected to be tighter as core inflation persists while becoming more accommodative in FY25. The current account deficit is projected to decline to 2.2 per cent of GDP in FY24 and 1.9 per cent in FY25. Growth in goods exports is forecast to moderate in FY24 before improving in 2024 as production-linked incentive schemes and efforts to improve the business environment such as streamlined labour regulations, improved performance in electronics and other areas of manufacturing growth. Services export growth has been robust and is expected to continue to strengthen India's overall balance of payments position. However, geopolitical tensions and weather-related shocks are key risks to India's economic outlook, it said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/two-tax-regimes-rise-of-freelancers-drive-people-to-tax-experts-chartered-accountants/articleshow/99243392.cms">Two tax regimes &amp; rise of freelancers drive people to tax experts, chartered accountants</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/ipl-2023-rajasthan-royals-and-royal-challengers-bangalore-emerge-as-experts-top-picks/articleshow/99243483.cms">IPL 2023: Rajasthan Royals and Royal Challengers Bangalore emerge as experts' top picks</a>

India's growth to moderate to 6.4% in FY24: Asian Development Bank

<ul><li>Experts and industry players have welcomed the long-awaited <keyword id="7393806" type="General" weightage="100" keywordseo="national-logistics-policy" source="Orion">National Logistics Policy</keyword>, calling it transformational and a ‘game changer’.</li><li>The <keyword id="187135" type="General" weightage="80" keywordseo="nlp" source="Orion">NLP</keyword> includes a new single-window platform for accessing all transport services digitally to an online portal to address grievances.</li><li>With the NLP, the immediate aim of the government is to reduce the cost of <keyword id="108235" type="General" weightage="20" keywordseo="logistics" source="Orion">logistics</keyword> and bring it in line with global standards.</li></ul>The Indian government finally announced the much-awaited National Logistics Policy, and that has the industry players excited. The primary aim of the new policy is to bring down the cost of logistics in line with global standards. The NLP, as it is being called, aims to standardize several aspects of logistics, including things like the Unified Logistics Interface Platform (<keyword id="44600" type="General" weightage="80" keywordseo="ulip" source="Orion">ULIP</keyword>), Ease of Logistics Services (E-Logs) platform, and more. Here are some of the goals of the new National Logistics Policy: <ol><li>Bring down logistics costs from the current 14% of the Indian GDP to 10% by the end of 2022. In countries like Singapore, US, and South Korea, this stands at 8%.</li><li>Improve Logistics Performance Index and catapult India to the top 25 countries.</li><li>Minimize logistical issues via standardization of the warehousing sector and reduce transportation stress on roadways by offloading some of it to other modes of transport.</li><li>Enhance workforce skills via Gati Shakti Vishwavidyalaya.</li><li>Address issues of the logistics industry via unified service platforms like ULIP and E-Logs.</li></ol>Industry players have welcomed NLP, saying that this will be a “game changer”. “Push towards seamless multimodal transportation and modern connectivity will be a game changer as it will shift the transportation stress from just road to other modes as well,” said Vineet Agarwal, MD of Transport Corporation of India. Rajneesh Kumar, Chief Corporate Affairs Officer, Flipkart Group, said, "The National Logistics Policy is a welcome move and this along with PM Gati Shakti plan will help build a more resilient logistics ecosystem in the country. Along with improving efficiency across the value chain, it will also result in a considerable reduction in logistics costs from their present level, thereby benefiting the end customer with lower costs." Sunil Nair, CEO of Snowman Logistics said that the much-awaited National Logistics Policy covered most of his expectations. “The integration of 30 systems from seven different departments is one of the most liked solutions,” said. Ease of access to information will also enable better business opportunities, said Zaiba Sarang, co-founder of iThink Logistics. “NLP gives the smallest person in the ecosystem access to information that was available to key stakeholders only. 85% own less than 10 trucks and their empty trucks can pick up the goods from the best place which will yield them higher returns,” she said. The government’s aim to reduce dependence on just one mode of transport is important, said Pervinder Singh Chawla, co-founder of Onmove. “NLP attempts to have strong infrastructure (the heart of logistics) and tech infrastructure to support a fast-growing manufacturing economy. NLP has its focus on tactical multimodal implementation (the tail of cheetah) that is flexible, cost efficient and agile,” he said. <cmsannotation type="cmsannotation" annotationid="NLP could be the UPI of logistics, say analysts" comment="subhead" text="NLP could be the UPI of logistics, say analysts">NLP could be the <keyword id="6358921" type="General" weightage="50" keywordseo="upi" source="Orion">UPI</keyword> of logistics, say analysts</cmsannotation> One of the common issues plaguing the Indian economy has been bureaucracy and the red tape. The NLP also tries to address this to an extent with ULIP, which is a single window interface that integrates all digital services for the transport sector at a single place. “Unified Logistics Interface Platform (ULIP) will bring all digital services related to the transportation sector into a single portal. The platform aims at breaking individual silos, promoting integration among various ministries/departments and creating a single window thereby bringing in transparency and efficiency,” said a report by JM Financial. “The aim is to create a UPI-like structure in which every single transaction of the logistic department can be authenticated,” the report added further, explaining how ULIP could transform the logistics landscape. It remains to be seen if ULIP can do for logistics what UPI has done for sending and receiving money. SEE ALSO: <a href="https://www.businessinsider.in/thelife/personalities/news/anil-agarwal-profile-vedanta-resources-listing-in-london-stock-exchange-gujarat-semiconductor-chipset-plant/articleshow/94297057.cms">Anil Agarwal – how a Bihar boy who knew only ‘yes’ and ‘no’ went onto list the first Indian company on London Stock Exchange</a> <a href="https://www.businessinsider.in/stock-market/news/for-every-100-pulled-out-by-foreign-investors-from-the-indian-equity-markets-domestic-investors-have-ploughed-back-89-this-year/articleshow/94220904.cms">For every ₹100 pulled out by foreign investors from the Indian equity markets, domestic investors have ploughed back ₹89 this year</a> <a href="https://www.businessinsider.in/stock-market/news/from-sbi-to-icici-indian-banks-are-entering-an-earnings-upgrade-cycle-says-morgan-stanley/articleshow/94049013.cms">Time to buy banks? Morgan Stanley says yes as banks are entering 2nd leg of earnings upgrades</a>

National Logistics Policy will be a game changer, say industry players

<ul><li>Nirmala Sitharaman is all set to make her fourth budget speech as India’s <keyword id="6355261" type="General" weightage="20" keywordseo="finance-minister" source="Orion">Finance Minister</keyword>.</li><li>Stock markets have regained a lot of the recently lost value in the hope that the Narendra Modi government will spend enough money to boost private consumption.</li><li>This article will be updated with the most important parts of Sitharaman’s speech as soon as she starts speaking.</li></ul>Nirmala Sitharaman is all set to make her fourth budget speech as India’s Finance Minister. Stock markets have regained a lot of the recently lost value in the hope that the Narendra Modi government will spend enough money to boost private consumption. This may include income tax cuts as well, according to experts. The first part of her speech focussed on the government’s upcoming programme titled ‘Gati Shakti’. This programme involves big public investment in building modern infrastructure including roads, highways, seamless multimodal transport, and improving logistics networks to name a few. As part of this programme, the budget has allocated ₹20,000 crore to award 25,000 kilometres of highway projects in the financial year ending March 2023. In deference to the request from many states, the outlay of the Scheme for Financial Assistance to states has been increased from ₹10,000 crore to ₹15,000 crore. The allocation for FY23 is ₹1 lakh crore to catalyse overall investments in the economy. The 50-year interest free bonds are over and above the normal borrowings by the states. This will be used for Gati Shakti, rural road projects, town planning schemes etc. The Finance Minister has announced a fund to support startups in agriculture which will be routed via National Bank for Agriculture and Rural Development (NABARD). A credit guarantee trust will create additional credit of ₹2 lakh crore for small businesses. Desh Stack platform will provide API-based certification and help upskilled people find relevant jobs. The Finance Minister proposed the use of drones as a service in select Industrial Training Institutes (ITIs) in all states. A national digital university will be launched, in a hub-and-spoke model, where other public universities will collaborate. To improve access to mental healthcare, 23 tele-mental health centres will be launched, with National Institute of Mental Health and Neuro-Sciences (NIMHANS) as the nodal unit, and Indian Institutes of Information Technology (IIIT) Bangalore providing tech support. ₹60,000 crore budget allocation in FY23 to take piped water connections to 8.8 crore homes. 23 tele-mental health centres will be launched to improve access to mental healthcare. NIMHANS will function as the nodal unit, and IIIT Bangalore providing tech support. PM Awas Yojana, a subsidised housing scheme, gets a budget allocation of ₹48,000 crore. E-passports with embedded chips will be rolled out in 2022-23 to make it convenient for citizens. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/minda-industries-sona-comstar-greaves-cotton-amongst-biggest-gainers-as-investors-bet-on-budget-2022-being-ev-friendly/articleshow/89264077.cms">Minda Industries, Sona Comstar, Greaves Cotton amongst biggest gainers as investors bet on Budget 2022 being EV-friendly</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/shares-of-fmcg-companies-rise-on-hopes-of-consumption-boost-for-the-sector/articleshow/89263952.cms">Britannia, Dabur, Marico surge on hopes that budget will leave people with more money to buy stuff</a>

Budget 2022: Watch out for the highlights from Finance Minister Nirmala Sitharaman’s speech

<ul><li>FSN E-Commerce Ventures that runs <keyword id="6376684" type="General" weightage="20" keywordseo="nykaa" source="Orion">Nykaa</keyword> clocks net profit of ₹5 crore in June quarter, while revenues jump 41% to ₹1,148 crore as demand improves</li><li>Founder and CEO <keyword id="6379793" type="General" weightage="20" keywordseo="falguni-nayar" source="Orion">Falguni Nayar</keyword> says the company has booked good sales in June quarter despite the challenging environment.</li><li>It has accelerated offline expansion with 8 physical stores across cities like Pune, Coimbatore, Delhi, Ranchi with stores count rising to 113 stores across 52 cities.</li></ul>FSN E-Commerce Ventures, the parent company of online retailer Nykaa, on Friday reported a net profit of ₹5 crore in April-June quarter, while revenues grew 41% at ₹1,148 crore backed by signs of demand recovery in all verticals. Sequentially, Nykaa’s net profit fell 34% as it had reported a profit of ₹7.6 crore in the March quarter. Founder and CEO Falguni Nayar said that the company booked good sales in June quarter despite the challenging environment. “Our business continues to grow across the verticals, despite an adverse and challenging macroeconomic environment, demonstrating the strength of our business fundamentals and unique customer-first experiences. The beauty vertical, online and offline, is witnessing growth momentum, while building efficiencies across the value chain,” said Nayar. Its gross merchandise value increased 47% year-on-year to ₹2,155.8 crore in the first quarter of FY23. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue from operations </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,148 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹817 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">41% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹5 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3.5 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">42% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">EBITDA </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.3% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">71 basis points </td></tr></tbody></table> Nykaa, which has been opening stores to let consumers recognize their brand, has accelerated offline expansion with 8 physical stores across cities like Pune, Coimbatore, Delhi, Ranchi, Ahmedabad and Kolkata. With this, total physical stores count stands at 113 stores across 52 cities. The company has plans to triple the store count to 300 across 100 cities. Further, the company is gearing up for the upcoming festive season and resuming offline shopping behaviour. “As a result of the significant discipline that we ensured in our retail store business during the COVID affected periods, we are now witnessing the positive effect of scale on our unit economics, especially with the return of offline shopping behaviour. The consumer demand for beauty, personal care and wellness is also showing early signs of recovery and we are gearing up for a promising festive season this year,” she said. SEE ALSO <a href="https://www.businessinsider.in/retail/news/aditya-birla-fashion-records-its-highest-ever-q1-sales-hopes-q2-to-be-bigger/articleshow/93374170.cms">Aditya Birla Fashion records its highest ever Q1 sales, hopes Q2 to be bigger</a> <a href="https://www.businessinsider.in/personal-finance/now-nris-can-pay-parents-utility-bills-and-childrens-school-fees-in-india/articleshow/93368504.cms">Now, NRIs can pay parents' utility bills and children's school fees in India</a> <a class="tout-title-link" href="https://www.businessinsider.in/finance/news/shaktis-gati-on-interest-rate-hike-to-continue/articleshow/93366502.cms">Shakti’s Gati on interest rate hikes to continue</a>

Nykaa’s Q1 net profit at ₹5 crore, Falguni Nayar says demand recovering in beauty, personal care

<ul><li>India’s central bank has increased the key <keyword id="43352" type="General" weightage="20" keywordseo="repo-rate" source="Orion">repo rate</keyword> to 5.4%, which will make EMIs for home and other loans more expensive.</li><li>This is the third such hike carried out by India’s central bank in the last four months.</li><li>The industry also seemed to be bumped with the timing of this increase as home sales in India had just recovered from Covid blues.</li></ul><keyword id="6354730" type="General" weightage="20" keywordseo="home-loan" source="Orion">Home loan</keyword> EMIs are all set to rise once again as the Reserve Bank of India (RBI) increased the key repo rate to 5.4% to tame the inflation rate in the country. The RBI governor Shaktikanta Das announced this increase of 50 basis points (bps) on Friday morning. The rate hike will eat into household budgets as <keyword id="35519" type="General" weightage="20" keywordseo="home-loans" source="Orion">home loans</keyword>, car loans get costlier. This is the third such hike carried out by India’s central bank in the last four months and it will increase the borrowing costs for both corporates as well as individuals. “A rate hike was expected, but the expectation was for a maximum of 35 bps. The hike by 50 bps is definitely on the higher side, and home loan lending rates will now edge further into the red zone,” Anuj Puri, the chairperson of property consultancy firm Anarock group, said. Kalpesh Dave, head of corporate planning and Strategy at Star HFL, advised the existing borrowers to engage with lenders to see if they can maintain their EMIs through increase in balance tenor for floating rate loans. Consumers can also think of switching to fixed rate loans after a careful cost-benefit analysis, he suggested. <cmsannotation type="cmsannotation" annotationid="End of low interest rate regime" comment="subhead" text="End of low interest rate regime">End of low interest rate regime</cmsannotation> Puri noted that the announcement marks the end of the all-time best low interest rate regime, which drove housing sales across the country since the pandemic. The interest rates — along with swollen primary raw materials costs of cement, steel, labour — will increase the property rates. Real estate company CREDAI’s president Harsh Vardhan Patodia noted that these factors would immediately impact home buying, though only for a short-term. The impact may last till the festive season of Diwali as well, multiple experts have pointed out. However, Raman Sastri, the chairperson and MD of Sterling Developers, emphasized that there is still hope from pent up demand from a very large population and first-time home buyers <cmsannotation type="cmsannotation" annotationid="The timing couldn’t have been worse" comment="subhead" text="The timing couldn’t have been worse">The timing couldn’t have been worse</cmsannotation> The Indian real estate market is also unhappy about the timing of this rate hike, as the housing sales were just beginning to show signs of recovery. The sale of residential property in the first half of 2022 was the highest in over a decade. According to data shared by Anarock Research, roughly 1.85 lakh units were sold across top seven cities between January to June 2021. “The inflationary pressures and the resultant change in RBI’s earlier dovish policy stance couldn’t have come at a more inopportune time for the sector. However, we believe that the long-term prospects look healthy given that macro-economic dynamics will moderate to a more favourable one as growth remains intact and global headwinds ease up,” Dr Samantak Das, chief economist and head of research at Real Estate Intelligence Service (REIS) India, said. SEE ALSO <a href="https://www.businessinsider.in/personal-finance/now-nris-can-pay-parents-utility-bills-and-childrens-school-fees-in-india/articleshow/93368504.cms" style="">Now, NRIs can pay parents' utility bills and children's school fees in India</a> <a class="tout-title-link" href="https://www.businessinsider.in/finance/news/shaktis-gati-on-interest-rate-hike-to-continue/articleshow/93366502.cms" style="">Shakti’s Gati on interest rate hikes to continue</a> <a href="https://www.businessinsider.in/business/corporates/news/telecom-and-consulting-sectors-sees-the-highest-rate-of-return-to-office-it-witnesses-the-least/articleshow/93342089.cms" style="">Telcos, consultancies bring employees back to offices even as techies stay home</a>

You Searched For "gati shakti" and got 7 results

Shakti’s Gati on interest rate hikes to continue

Malini Bhupta

PM Gati Shakti National Master Plan aims to bring synergy between infrastructure and logistics across the length and breadth of India

Rounak Jain

India's growth to moderate to 6.4% in FY24: Asian Development Bank

PTI

National Logistics Policy will be a game changer, say industry players

Rounak Jain

Budget 2022: Watch out for the highlights from Finance Minister Nirmala Sitharaman’s speech

BI India Bureau

Nykaa’s Q1 net profit at ₹5 crore, Falguni Nayar says demand recovering in beauty, personal care

Bhakti Makwana

It’s time to shift to fixed home loan rates, say experts after third rate hike in 4 months

Kritti Bhalla

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