Dell will offer technology solutions to the city industries like gems and jewellery, textiles and others
Dell will now enhance focus on small and medium businesses in Rajasthan and offer relevant holistic solutions, services and targets. A company official said that the company will offer technology solutions to the city industries like gems and jewellery, textiles and others.
"As a part of our small and medium businesses (SMB) outreach strategy to work closely and IT partner with emerging businesses, we will offer them affordable, scalable solutions that help manage their resources in the most effective way," Satyen Vyas, director-medium business, Dell India, said.
"Rajasthan is home to some traditional businesses and industries like gems and jewellery, textiles, chemicals, marble, etc, that need technology to grow and thrive and Dell as an IT partner is equipped to address customer pain points and resolve problems," he said.
The existing Index of Industrial Production data covers only big industrial segments
The government is expected to come out soon with a separate index to track growth of the micro, small and medium enterprises (MSME), sharpening focus on the unorganised segment that contributes substantially to the country's economy.
India's Chief Statistician TCA Anant said the existing Index of Industrial Production (IIP) data covers only big industrial segments.
"A lot of industry units, which employ less than 10 workers, do not get covered under the current survey. But such industries are a major component of our manufacturing sector, with a big share in overall production and exports of the country....So MSME ministry is thinking about releasing a new index to capture such industries," he said.
Anant said a new methodology would be required to cover such a segment but declined to give a specific time-frame by when the new index for MSME would be out.
He said the new series of IIP, which has 2004-05 as the base year, has left MSME out of the index. Other 14 source agencies, which were part of the old series, have been included in the new one as well.
"As for the MSME segment, a separate index will be developed. The sector is very important. The time-frame and other details will be decided later," he said.
MSME sector is the second largest employers in the country after the agriculture sector. As many as 60 million people are employed in the sector, which contribute to 8% of India's gross domestic product, and 40% of exports.
Nifty support and resistances are at 5,415 and 5,545
Domestic economic uncertainties along with signs of a global slowdown resulted in the market settling flat, amid a high degree of volatility. However, the gains in the broader indices helped to restrict the losses.
Tracking the downtrend in the global markets, the domestic bourses opened on a soft note today. Concerns over the possibility of the Reserve Bank of India (RBI) hiking key rates by an estimated 25 basis points in its policy review this week, also weighed on sentiments. The Sensex opened 27 points lower at 18,242 and the Nifty was down 16 points at 5.470. Oil & gas, IT, realty and metal stocks saw selling pressure in early trade.
Index heavyweights Reliance Industries (RIL) and Maruti Suzuki pushed the benchmarks to the day's low in mid-morning trade; the Sensex dropped 148 points to 18,121 and the Nifty was down 47 points to 5,437 from its previous close.
The market touched the day's high in noon trade as the Sensex touched 18,313 and the Nifty scaled to 5,497. But choppiness resulted in the market coming off the highs and the indices closed flat. At the end of trade, the Sensex and the Nifty lost three points each, settling at 18,266 and 5,483, respectively. The Nifty support lies at 5,415 and resistance is at 5,545. We don't expect any major moves beyond this until the RBI meeting on 16th June.
The advance-decline ratio on the National Stock Exchange was 670:704.
The broader indices were more resilient and ended in the positive with the BSE Mid-cap index gaining 0.28% and the BSE Small-cap index rising 0.30%.
The BSE Consumer Durables index (up 1.39%) was the top gainer in the sectoral space. It was followed by BSE Power (up 0.74%) and BSE Capital Goods (up 0.71%). The major losers were BSE Metal (down 0.99%), BSE Oil & Gas (down 0.74%) and BSE Realty (down 0.30%).
Jaiprakash Associates (up 3.18%), NTPC (up 2.27%), Cipla (up 2.05%), Reliance Communications (down 1.78%) and Bajaj Auto (up 1.25%) were the top performers on the Sensex. The laggards were led by Hindalco Industries (down 2.22%), RIL (down 1.84%), Tata Steel (down 1.12%), TCS (down 1.10%) and State Bank of India (down 1.02%).
The top Nifty gainers were Jaiprakash Associates (up 3.68%), Cipla (up 2.27%), NTPC (up 2.13%), Sun Pharma (up 1.97%) and BPCL (up 1.86%). Hindalco (down 2.38%), RIL (down 2.11%), Sesa Goa (down 2.02%), Dr Reddy's (down 1.73%) and Tata Steel (down 1.15%) were the top losers on the index.
Markets in Asia settled mostly lower on Monday on news of a fall in Japanese machinery orders in April and a fall in lending by Chinese banks in May, adding to the indicators of a slowdown in the global economy. The Chinese data fuelled fresh concerns of a rate hike by the country's central bank.
The Shanghai Composite declined 0.16%, the Jakarta Composite tanked 1.03%, the KKSE Composite fell by 0.66%, the Nikkei 225 was down 0.70%, the Straits Times declined 0.63% and the Taiwan Weighted tumbled 1.41%. On the other hand, the Hang Seng gained 0.39% and the Seoul Composite added 0.10%.
Back home, foreign institutional investors were net sellers of stocks worth Rs170.05 crore on Friday, whereas domestic institutional investors were net buyers of shares worth Rs336.98 crore.
Oil regulator, the Directorate General of Hydrocarbons (DGH) has refused to accredit three natural gas discoveries made by Reliance Industries at its KG-D 6 block, where revival of sagging output depends on production from new finds.
The DGH rejected D-30, D-31 and D-34 finds in the KGDWN-98 /3 or KG-D 6 block as commercially exploitable discoveries on account of low reserves they may hold, sources privy to the development said. RIL settled 1.84% lower in trade today.
The country's largest car-maker Maruti Suzuki India's (MSI) Manesar facility continues to be completely shut down, with a workers' strike at the plant entering its 10th day today.
Around 2,000 workers at the plant have been on strike since 4th June, resulting in a loss of about Rs390 crore on account of a 7,800-unit hit in output till Saturday. The factory had its weekly off on Sunday. The Maruti Suzuki stock lost 0.17% by the close of trade today.