India's industrial production output decelerated to 4.8 per cent year-on-year in July 2024, mainly due to poor performance of the manufacturing and mining sectors, as per official data released on Thursday. The factory output growth, measured in terms of the Index of Industrial Production (IIP), was revised to 4.7 per cent in June from provisional estimates of 4.2 per cent released last month. The IIP for July 2024 was 4.8 per cent, as per the data.
In a first of its kind move, the Indian Railways Catering and Tourism Corporation (IRCTC), the ticket booking arm of the Indian Railways, is looking to monetise its bank of passenger data while conducting business with private and government companies. IRCTC has a large bank of data related to every online railway ticket ever generated as it is the country's only railway ticketing platform, an IRCTC official told Business Standard. The public sector undertaking, which has sought the services of a consultant to assist with the monetisation process, plans to raise Rs 1,000 crore through this exercise.
Gujarat Minister of State for Home Harsh Sanghavi has defended the state government's use of bulldozers to demolish the homes of alleged anti-social elements, saying that only opposition parties are upset about the measure. He also vowed to take strict action against those involved in "love jihad", saying that they would be paraded on the streets. Sanghavi's comments come amid rising tensions over the issue of religious conversions in India.
Among the 30-share Sensex blue-chip pack, Bharti Airtel, ITC, Kotak Mahindra Bank, Hindustan Unilever, Titan, UltraTech Cement, HCL Technologies, and Power Grid, were the biggest gainers. Tata Steel, IndusInd Bank, JSW Steel and Bajaj Finserv were the laggards.
Enterprise data management will be a USD 105 bn business by 2020.
Cancer has no race, so why do new innovative cancer drugs discriminate based on race and ethnic groups, asks Digonto Chatterjee.
Sellers downloading their monthly financial reports were served with those of other vendors, leading to a breach of competitive businesses data.
UK-based Vedanta Resources is looking to start copper production at its Konkola copper mines (KCM) in Zambia and is eyeing to serve global and Indian markets, according to company executives. Promoted by billionaire Anil Agarwal, the miner in November 2023 regained control of the copper mines and smelter, which the Zambian administration had seized in 2019, but needed to pay creditors of the mines to revive operations. The conglomerate was locked in a legal battle over the ownership of the KCM mines prior to a September 2023 Zambia government decision to reinstate the group as owners of the mines.
Despite gross domestic product (GDP) growth being lower-than-expected for the July-September quarter, the six-member Monetary Policy Committee (MPC) may not cut the policy repo rate in the review meeting scheduled for next week due to high inflation in October, according to experts. "Consumer Price Index (CPI) inflation breaching the upper limit of the RBI's tolerance band in October (6.2 per cent year-on-year) is not a favourable backdrop for the MPC to commence the easing cycle, even as the growth outcome disappointed the MPC's expectations," said Shreya Sodhani, regional economist at Barclays, who expects the policy repo rate to be kept unchanged in the December meeting.
India's industrial production slowed to a five-month low of 4.2 per cent in June 2024, mainly due to poor performance of the manufacturing sector, though power and mining sectors continue to perform well, as per official data released on Monday. The factory output growth, measured in terms of the Index of Industrial Production (IIP), was 6.2 per cent in May, 5 per cent in April, 5.5 per cent in March, 5.6 per cent in February and 4.2 per cent in January 2024.
After declining to a three-year low in FY24, the private sector investment is expected to fall further in the current financial year, India Ratings said in a research note.. The investments in the private sector are likely to plummet to below 11 per cent of the GDP in FY25, based on the trends from the latest national accounts data and company fillings, it noted.
Scindia claimed Tharoor is "lost in his esoteric world of thesaurus", and for him "data mining of selective press articles from the internet qualifies as "research".
Domestic rating agency Icra on Wednesday said India's real GDP growth for the September quarter is likely to decline to 6.5 per cent due to heavy rains and weaker corporate performance. The agency, however, maintained its FY25 growth estimate at 7 per cent on expectations of a pick up in economic activity in the second half of the fiscal.
The private corporate sector showed improvements across various segments in the third quarter of the current financial year (Q3FY25), with the operating profit margin of listed non-financial companies increasing sequentially by 50 basis points (bps) to 16.2 per cent, according to the Reserve Bank of India (RBI) data released on Monday. Sales of listed private non-financial companies increased by 8.0 per cent during Q3FY25, compared to 5.5 per cent in the corresponding quarter a year ago. It was, however, 5.4 per cent in Q2FY25.
'Our business continues to roll out its strategy, the role of this GDTC continues to grow.'
The notice came after reports that political parties had used the data analytics firm during elections.
Channi's nephew Bhupinder Singh alias Honey was arrested in this case by the agency.
'The global climate system doesn't look at where the carbon dioxide is coming from. 'It may be emitted by the US, but it will not remain above the US alone but covers the whole world.'
India is planning to soon sign new and updated mineral pacts with about a dozen countries in Africa. The Ministry of Mines is in discussions with Cte d'Ivoire, Democratic Republic of the Congo (DRC), Madagascar, Malawi, Mali, Morocco, Mozambique, South Africa, Tanzania, Zambia and Zimbabwe, Business Standard has learnt. Negotiations are ongoing with around a dozen countries, and more will be added to the list soon.
India's industrial production growth slipped to 3-month low of 5 per cent in April 2024, mainly due to poor show by the manufacturing sector, though mining and power segments performed well, according to official data released on Wednesday. Factory output growth, measured in terms of the Index of Industrial Production (IIP), was 5.4 per cent in March and 5.6 per cent in February 2024. The previous low of IIP was recorded at 4.2 per cent in January, 2024.
India's industrial production growth slowed marginally to 4.9 per cent month-on-month in March 2024, mainly due to poor show by the mining sector, according to official data released on Friday. The factory output growth, measured in terms of the Index of Industrial Production (IIP), was 5.6 per cent in February 2024. However, it was 1.9 per cent in March 2023.
India on Monday announced the results for the country's first critical mineral auction. Amid the tepid response from big players, the list of successful bidders included some lesser known names. A total of five companies secured bids for six critical mineral blocks of graphite, manganese, phosphorite, lithium, and rare earth elements with auction premiums ranging from 13.05 per cent to 400 per cent.
Amid subdued demand for traditional information technology (IT) services offerings, Indian IT services players are betting on big data, as this is high on clients' agenda.
In a bid to capitalise on its underwater resources, the Indian government has introduced new rules for auctioning offshore mineral assets, aiming to ensure a transparent and competitive process. While these rules feature stringent eligibility criteria, they also simplify the awarding process. This move comes in the wake of the less-than-expected interest in critical mineral auctions.
The data-sharing obligations could generally place India at a disadvantage, given that such obligations may not exist in other countries and such outcomes would be undesirable, said Nasscom.
'To access our satellite, you don't need any IQ test, you don't need to write an examination.' 'You can be a Class 1 student, an engineering student, a 60-year-old person, anybody can access our satellite.'
Suddenly, the legendary advertising line -- a diamond is forever -- is losing its shine.
The growth in production of eight key infrastructure sectors entered a negative zone after three-and-a-half years, contracting 1.8 per cent in August 2024 due to decline in output of coal, crude oil, natural gas, refinery products, cement and electricity, according to official data released on Monday. The growth rate was 6.1 per cent in July. The growth of core sectors -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- was 13.4 per cent in August 2023.
Latest GDP growth numbers a one-off development and not the beginning of a trend, says CEA V Anantha Nageswaran.
India's industrial production growth accelerated to a four-month high of 5.7 per cent in February 2024, mainly due to the good performance of the mining sector, according to official data released on Friday. The factory output growth measured in terms of the Index of Industrial Production (IIP) was 6 per cent in February 2023. The previous high of IIP was recorded at 11.9 per cent in October 2023, which slowed to 2.5 per cent in November, 4.2 per cent in December and 4.1 per cent in January 2024.
The ministry has raised five questions in all including whether the personal data of Indian voters and users has been compromised by Cambridge Analytica or any other downstream entity in any manner.
India's manufacturing sector growth fell to a joint 11-month low of 56.5 in November, restricted by competitive conditions and inflationary pressures amid a softer increase in factory orders, a monthly survey said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 57.5 in October to 56.5 in November, signalling a softer improvement in the health of the sector. However, the pace of growth remained above its long-run average.
Indian companies are generating more cash than ever. The net cash flow from listed firms' operations hit a new high of Rs 11.1 trillion in financial year 2023-24 (FY24), crossing the Rs 10-trillion mark for the first time, according to the Centre for Monitoring Indian Economy (CMIE) data going back to 1990-91. The FY24 figure represents a 19.3 per cent jump over the previous year, even as quite a few companies are yet to release their numbers.
Equity benchmark indices Sensex and Nifty settled higher on Thursday, powered by a rally in banking and power stocks amid a largely firm trend in global markets. The stock markets mostly traded range-bound in the absence of any major trigger and persistent foreign capital outflows, traders said. The 30-share BSE Sensex rose 144.31 points, or 0.18 per cent, to settle at 81,611.41.
Among Sensex firms, Tata Consultancy Services, HCL Technologies, Tech Mahindra, Infosys, Mahindra & Mahindra and Tata Motors were the biggest gainers. UltraTech Cement, JSW Steel, Tata Steel, Adani Ports, Power Grid and Bajaj Finserv were among the laggards.
Officials said the oil marketing companies had provided data to the Income Tax department.
India's industrial production growth slowed to 3.8 per cent in January, while the February retail inflation at 5.09 per cent remained within the Reserve Bank's comfort zone for the sixth straight month, according to the latest government data. Growth in factory output, based on the Index of Industrial Production (IIP), slowed to 3.8 per cent in January 2024, mainly due to poor performance of manufacturing, mining and power sectors, according to the data released by the Ministry of Statistics & Programme Implementation.
Geopolitical events, macroeconomic data and quarterly earnings of corporates would guide the stock market in a holiday-shortened week ahead, analysts said. Stock markets will remain closed on Wednesday for Ram Navami. "This week promises to be crucial for the market as fresh worries about a potential conflict between Iran and Israel emerge.
'Make your child solve his/her problems on his/her own. Let the child see parenting as a partnership between you and your child.'
