The K-shaped economic recovery in India from the pandemic slowdown shows in corporate results as well. The automobile sector, which represents big-ticket consumption, continues to do well and has increased its share in corporate revenues and profits while fast-moving consumer goods (FMCG) companies that sell low-ticket consumer goods are struggling with poor sales and earnings growth. The share of the automobile sector, including makers of auto ancillaries, in corporate net sales rose to a 10-quarter high of 10.05 per cent during July-September 2023 (Q2FY24) from 8.94 per cent a year earlier and 9.75 per cent in Q1FY24.
Victory left New Zealand on 10 points and in pole position to bag the last semi-final spot and join India, South Africa and Australia. Pakistan will now need to beat England by a massive margin to leapfrog New Zealand on net run rate.
Indian women's compound team rallied to down their Chinese Taipei rivals by one-point in a tense final to secure a second gold medal in archery
Chauhan's men's 90kg bout against Sadegh Azarang failed to last the distance as the Iranian inflicted a 'khalol' -- comprehensive victory with 10 points -- to secure a 10-0 win.
India played the tournament's best cricket for nearly six weeks but it was the familiar sight of Australia celebrating with the trophy as fireworks exploded overhead when the 13th edition of the World Cup came to a close on Sunday.
Consumer durables firms and fashion retailers expect double-digit growth in value terms in the ongoing festival season as consumers have stepped up purchases during this period. They expect to see value sales growth upwards of 15 per cent, which is especially coming in from cities. However, volume growth may lag behind value growth.
The conclusive champion of this tournament is set to be determined on Thursday.
While the country's unemployment rate is falling, the quality of employment seems to have taken a hit. The pace of formalisation slowed in the five months of the current financial year (April-August) with more than half a million fewer formal jobs created in the period compared to the same period last year, according to data from the Employees' Provident Fund Organisation (EPFO). The payroll data showed that cumulatively 4.92 million new subscribers joined the social security organisation between April-August this year, compared to 5.51 million subscribers in the same period in the previous year, reflecting a 10.7 per cent decline in the number of new payrolls created.
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