Air passengers might have a reason to smile this Diwali season as average airfares on many domestic routes have dropped 20-25 per cent compared to the year-ago period, according to an analysis. Increased capacity and the recent fall in oil prices are considered to be among the factors for the fall in air ticket prices. The analysis by travel portal ixigo showed that average airfare on the domestic routes have declined in the range of 20-25 per cent.
The Indian stock market in the October-November period sees high trading activity due to increased consumer spending, festive demand, upbeat sentiment, renewed investor confidence, and the auspicious Muhurat trading session. This impacts many stocks and sectors in the festive season.
Strong demand for cultural and spiritual hubs is expected for destinations like Varanasi, Kolkata during Durga Puja, and Pushkar for the camel fair, besides leisure destinations like Goa, Udaipur, Jaipur and Coorg.
Fast-moving consumer goods (FMCG) companies, retail firms, and producers of consumer durables are witnessing stable urban demand. However, people in the trade are waiting for clearer signs of revival closer to the festival season, starting in September.
Delhi police arrest 13 individuals, including minors, for the murder and sexual assault of a 14-year-old boy, allegedly in retaliation for informing on a rival gang member.
Oravel Stays - which operates hospitality tech firm OYO - on Friday pre-filed its Draft Red Herring Prospectus with stock market regulator Sebi, sources said. Sources close to the company told PTI, OYO may launch its initial public offering (IPO) around Diwali this year. Unlike the traditional route where companies have to launch the IPO within 12 months from the Sebi approval, or final observation; in the pre-filing route, an IPO can be floated within 18 months from the date of Sebi's final comments.
As the election nears, political positions on prohibition are shifting.
The Supreme Court of India has refused to relax the ban on firecrackers in the Delhi-NCR region, citing continued alarming levels of air pollution. The court emphasized the right to a pollution-free atmosphere as a fundamental right, stating that the ban is necessary to protect public health. The court also highlighted the issue of noise pollution caused by firecrackers. The decision comes after a batch of petitions were filed by firecracker manufacturers seeking relaxation of the ban.
'The past few quarters have seen prohibitive fares for advance bookings, only to dip closer to departure.'
IPOs worth Rs 50,000 crore including Hyundai, NTPC Green Energy and Swiggy are set to hit the market in late October or early November.
The filing of Swiggy's DRHP has led to direct comparisons with Zomato, which is a direct competitor in food delivery and the fast-growing quick-commerce segment where Blinkit (owned by Zomato) faces off against Instamart (and Zepto). In Q-commerce, Flipkart, Amazon, Reliance and Big Basket are all entering the space. All of them have deep pockets, hence competitive intensity will rise going forward.
The unemployment rate for women was last this low around Diwali in 2022. The unemployment rate has dropped for women from 14.9 per cent in December 2023 to 11 per cent in January 2024, according to data from the Centre for Monitoring Indian Economy (CMIE). It was higher in January 2023 at 13.5 per cent.
The city's average air quality index (AQI) stood at 220 at 12 noon, improving from 263 at 4 pm on Monday.
Fiscal pressure for the Indian economy is gradually rising, suggested analysts at Jefferies in a recent note, as oil prices (Brent) - which are close to the $100 a barrel mark - continue to climb ahead of a busy election calendar. They added that the sharp rally in the equity markets during the last few months has made valuations costly. As a result, Jefferies expects the Indian markets to remain choppy in the near term.
This time, Delhi saw a sharp improvement in air quality just ahead of Diwali which can be attributed to intermittent rainfall on Friday and wind speed favourable for the dispersion of pollutants.
Sources said traces of human blood were found there. It is suspected that they had killed somebody in the house and later disposed off the body by cutting it into pieces.
Production, storage and sale of firecrackers in the capital will be punishable with a fine of up to Rs 5,000 and three years jail under Section 9B of the Explosives Act, the minister told a press conference in New Delhi.
Homegrown auto major Tata Motors on Monday said it will launch its mini SUV Punch in the ongoing festive season. Punch is based on the H2X concept, which Tata Motors had showcased at the Auto Expo 2020. It will be positioned below the company's compact SUV Nexon and is expected to hit the market around Diwali this year.
Reliance Jio may not ask for a premium for its 5G services in the initial stages of the launch, according to sources in the company. The company will roll out 5G commercial services in four cities -Delhi, Mumbai, Chennai, and Kolkata - around Diwali this month and slowly ramp up the processes for other cities, too. A senior executive, when asked whether Jio will charge higher tariffs for 5G against 4G, said: "In the initial stages, customers have to adopt 5G, then they will have to find value in the service, and then one can look at monetisation."
'When I watched KGF, I was like, 'What kind of world are we living in? Who are these people'?'
The government has not divulged the amount of the fine to be imposed on first-time offenders.
Shiv Sena president and Maharashtra Chief Minister Uddhav Thackeray on Friday reached out to the functionaries of his party, which is currently battling a rebellion, and sought to allay fears surrounding the survival of his political outfit and the Maha Vikas Aghadi government.
Billionaire Mukesh Ambani's Reliance Industries on Friday reported a 43 per cent jump in its September quarter net profit as its businesses from oil to retail fired on all cylinders, growing both sequentially and on a year-on-year basis. Net profit of Rs 13,680 crore, or Rs 20.88 per share, in July-September compared with Rs 9,567 crore, or Rs 14.84 a share, in the same period a year back, the company said in a statement. While better realisation and a sharp rise in crude oil prices benefited the old-economy business, retail saw footfalls at stores reach pre-Covid levels and per user earning from telecom business rose.
MG Motor India is investing Rs 2,500 crore by the end of next year to increase the production capacity at its Halol plant in Gujarat, as it gears up to launch its mid-size SUV Astor, according to a top company official. Despite the worsening semiconductor shortage situation, which is likely to continue for at least another six months, the company expects its sales this year to grow by up to 100 per cent over last year. "We have done an investment of Rs 3,000 crore already, and by the end of next year, we will do another Rs 2,500 crore. "We will reach a total of Rs 5,500 crore," MG Motor India president and managing director Rajeev Chaba told PTI.
Yash Raj Films, India's premium production house, has announced its slate of five films that will release in theatres this year.
Close to 50 models were launched in India in the past 12 months, but companies have not been able to realise their potential due to the pandemic.
It is likely to be launched around Diwali
For the real estate sector, Diwali was the worst period after the global recession struck in 2008-09.
HR experts estimate that up to 70 per cent companies in the manufacturing and services space including sectors like auto components, edutech and construction equipment are looking to restore the salary cuts over the next couple of months.
The average load factor for November stands at 75 per cent, as leisure travel records a rise at this time.
A thin layer of toxic haze hung over Delhi in the morning and the overall air quality index stood at 313 at 9 am. It continued its upward trend and was recorded at 337 at 1 pm.
Around Diwali, the premiums had gone up to as much as 3.5 per cent.
The conflict began around Diwali when a group of workers demanded pay hike.
According to a senior source in the Intelligence Bureau, when a minor blast occurred outside the Delhi high court on May 25, an intelligence input was received that a Sikh militant group may try to do something in New Delhi to bring attention to Professor Davinderpal Singh Bhullar's mercy please before President Pratibha Patil.
Two persons were picked up on Monday from Belthangady in Mangalore in connection with the Malegaon blast case. It has been learnt that the two belong to the Sanatan Sanstha organisation. Investigators are also exploring a possible link between the Malegaon blast and the blast in Goa around Diwali 2009.
Jet Airways is pushing web sales to increase its revenue and cut distribution costs. The airline is selling 100,000 seats at a discount to drive this strategy.
The seizure of a car laden with explosives at Ambala on Wednesday evening has had Intelligence agencies and the police department on its toes.
Tata DOCOMO has announced its intention to launch 3G services around Diwali. Vodafone Essar plans to roll out 3G services by the first quarter of next year.
Sales of gold in the form of jewellery, coins and bars have risen 20-25 per cent over last year's festive season on the back of discount offers.
Delhi's overall air quality index (AQI) stood at 463 at 11.30 am, according to the System of Air Quality and Weather Forecasting and Research (SAFAR).
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