The Indian corporate world always has some surprises up its sleeves: record-breaking news, weird stats, and important business milestones. Some unusual news can include updates on stocks and shares, CEOs with the longest reign, or fastest growing sectors. So without further ado, let’s take a look at some unusual business records.
Updates regarding the business sector are usually related to profits earned, the stock market, or new policies implemented. However, when we dug up some old records, we found this interesting fact. In 1977, the then acting finance minister, Hirubhai M Patel gave the shortest budget speech in India’s history. Comprising of just 800 words, Patel gave the budget speech during the tenure of the Morarji Desai government.
The budget speech majorly briefed outlay and didn’t go into details.
Cut to 2020, Sitharaman won the award for the longest speech recorded in the budget history. Last year’s budget speech by Finance Minister Nirmala Sitharaman lasted over 2 hours. This budget speech announced the most significant financial reforms and shared sector-specific updates.
The difference between the shortest and longest speech is evident. Budget speeches have now become more detailed over time, providing a clearer picture of the government’s intent to investors and citizens.
Recently, some small and mid-cap companies registered their highest quarterly net profits. These companies operate in sectors like engineering, consumer products, and IT services. With India clocking slower GDP growth over the past few years, it was a surprise to see these companies register such high quarterly net profits.
A few of these companies attribute their success to tighter cost controls and higher sales of new products. It just goes to show that big companies don’t always have to set the profit records.
Amidst everything that’s been happening in India, Indian stocks have witnessed massive volatility as well. Gold and Silver Exchange Traded Funds (ETFs) in India have seen wild swings in prices over the past few months. While gold ETFs have recovered partially from their drastic fall in prices, many investors are asking- should they buy gold now?
Export-intensive stocks jumped following hopes of trade and tariff reforms between the USA and China. The correlation between international trade and the stock market is real.
India is on its way to hitting the $5 trillion mark. But what lies ahead? If the recent business trends are anything to go by, we can expect more unusual news. From fintech revolutions to new AGM guidelines for corporates, keep stopping by to catch the latest updates.
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