With Indian jewellery market already on the robust recovery path, the jewellers are expecting strong Diwali sales in the Dhanteras as the festive mood remains high with low Covid third wave possibility and softer gold price this season. The industry expects the trends in 2021 will be able to reach pre-covid level sales of 2019 on the back of gold price hovering at Rs 46,000-47,000 per 22 carat 10 grams gold nearly 5 per cent lower than 2020, and jump in number of weddings, a senior official of an industry body said. "Since Navratri market is showing demand. It will continue on Dhanteras also.
Consumer companies have started taking orders via phone calls and are also pushing retailers to order through their B2B applications.
While all indicators pointed to economy drastically slowing down due to lack of demand, the government continued to steer its policies in the name of 'ease of doing business', aggravating widespread impoverishment and deepening the crisis further, the unions alleged.
A security guard posted at the Station Road branch of Bank of Baroda in Bareilly on Friday allegedly opened fire at a customer who was trying to force his way inside without a mask, the police said.
Retail prices of three pulses -- tur, moong dal and urad -- are on a declining trend after the government took coordinated actions with state governments to check hoarding, the Food and Consumer Affairs Ministry said on Friday. "The upward pressure on retail prices of tur, moong dal and urad has stabilized in 2021 and is on a stable or declining trend," it said in a statement. According to the ministry, the average increase in prices of these three pulses during April to June 16, 2021 was 0.95 per cent as compared with previous three months (January-March, 2021).
West Bengal Chief Minister Mamata Banerjee Thursday came down heavily on the Centre for alleged "politically motivated" questions asked at the CAPF (central armed police force) recruitment examination and said it proved that BJP has politicised the central forces to serve its political interests.
Churu in Rajasthan is sizzling with a record temperature of 50 degree Celsius.
'There is little doubt that India's tobacco epidemic is contributing to its TB epidemic,' says Neil W Schluger.
Strange souls see a research report on an Indian conglomerate as part of a vast conspiracy to Keep India Down. There is only one possible response to this: Grow up. Nobody in the West cares enough about India or Adani to put all the effort into creating a giant conspiracy that links together BBC documentaries and short-sellers, points out Mihir S Sharma.
The chief minister said that although places of religious worship had to be shut during the pandemic, god was taking care of all devotees in the form of doctors, nurses and other health staff.
These houses will have amenities such as LPG, electricity and toilets, she said.
The company had posted a net profit of Rs 2,166 crore (Rs 21.66 billion) during the April-June quarter a year ago.
The good times are back, in a measured way, in fun spots across the globe.
The output of eight core sectors grew by 16.8 per cent in May, mainly due to a low base effect and uptick in production of natural gas, refinery products, steel, cement and electricity, official data released on Wednesday showed. The eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity had contracted by 21.4 per cent in May 2020 due to the lockdown restrictions imposed to control the spread of the COVID-19 infections. In March this year, these key sectors had recorded a growth of 11.4 per cent, and 60.9 per cent in April.
Sequentially, the loss widened from Rs 2,416.37 crore in the third quarter ended December 2017.
Coal shortage crisis at thermal power projects does not seem to abate very soon as the number of non-pit head plants with less than four days of dry fuel stock (supercritical stock) has increased to 70 this Sunday compared to 64 a week ago on October 3, as per government data. According to the latest coal stock data of the 135 plants with over 165 GW of installed generation capacity monitored by the Central Electricity Authority (CEA), as many 70 plants are categorised as supercritical stock or having less than four days of fuel on October 10, 2021, compared to 64 a week ago on October 3, 2021. The data also showed that the number of non-pit head plants having less than seven days of fuel (critical stock) has also increased to 26 on Sunday from 25 such projects a week ago on October 3, 2021.
The possible acquisition of Holcim India business will be one of the biggest inbound corporate deals in the country. Currently, Walmart Inc.'s $16-billion acquisition of Flipkart Online Services in 2018 remains the biggest acquisition of an Indian asset by any acquirer, followed by BP plc acquisition of 30 per cent stake in Reliance Industries' 23 oil and gas production blocks in 2011 for $7.2 billion. Bloomberg reported late on Wednesday night that Holcim - the world's biggest cement maker - is considering a potential sale of its India business and gauging interest in its controlling stake in Ambuja Cement.
Gerd Mueller netted 68 goals in 62 internationals, including the winner in the 1974 World Cup final, and is third in the all-time list of most goals in the global showpiece tournament with 14, behind Brazilian Ronaldo (15) and German Miroslav Klose (16).
The sixth International Yoga Day is being observed across the world. "Yoga unites, spreads brotherhood," Prime Minister Narendra Modi, who played an instrumental role in popularising yoga in the world after coming to power in 2014, said in his message on Sunday. Since 2015, International Yoga Day, is a United Nations designated day. Yoga at Home and Yoga with Family, is the focus this year as experts advised people to stay home due to the COVID-19 pandemic.
The daily positivity rate was recorded at 2.04 per cent. It has been below 3 per cent for the last 19 days. The weekly positivity rate was recorded at 2.13 per cent, according to the health ministry.
Mizoram shares a 510 km long porous border with Myanmar's Chin state and most of the Myanmarese nationals who have taken refuge in the state belong to the Chin, also known as the Zo, community. They share the same ancestry and culture as the Mizos of Mizoram.
For the first time, the bank is recruiting the CFO from outside its experienced talent pool of top management.
Gross enrolments of new subscribers with ESIC were 1.49 crore during the entire financial year 2018-19, the National Statistical Office (NSO) said in a report.
After selling brands like Pulsar, Boxer, Platina and RE in over 70 countries, Bajaj Auto plans to enter Thailand this year followed by Brazil next year.
Retail inflation inched up to 4.48 per cent in October due to an uptick in food prices, government data showed on Friday. The Consumer Price Index (CPI) based inflation was at 4.35 per cent in September and 7.61 per cent in October 2020.
Inflation has reappeared as a global issue in both advanced and emerging economies and India needs to be wary of "imported inflation", especially due to high oil prices, according to the Economic Survey 2021-22 released on Monday. "Inflation has reappeared as a global issue in both advanced and emerging economies. "India's Consumer Price Index inflation stood at 5.6 per cent YoY in December 2021 which is within the targeted tolerance band," the survey report presented in the Parliament by Finance Minister Nirmala Sitharaman noted.
SBI to introduce OTP-based ATM transactions and the new feature will not require any major change in the present process to withdraw cash.
Fitch Ratings has revised India's GDP forecast to minus 9.4 per cent in the current fiscal year from a previously projected contraction of 10.5 per cent after the economy staged a sharper rebound in the second quarter. In its Global Economic Outlook, Fitch said the coronavirus-induced recession inflicted severe economic scarring and the country needs to repair balance sheets and increase caution about long-term planning. "We now expect GDP to contract 9.4 per cent in the fiscal year to end March 2021 (plus 1.1 percentage point) followed by plus 11 per cent growth (unchanged) and plus 6.3 per cent growth in the following years," the rating agency said.
The active cases have increased to 37,10,525 comprising 15.65 per cent of the total infections.
Industrial production growth entered positive territory after a gap of two months with a record 22.4 per cent rise in March this year, mainly due to the low-base effect and good show by manufacturing, mining and power sectors. The manufacturing sector -- which constitutes 77.63 per cent of the index of industrial production (IIP) -- grew by 25.8 per cent in March 2021, as per the data released by the National Statistical Office (NSO) on Wednesday. The mining sector output too grew 6.1 per cent in March, while power generation increased by 22.5 per cent.
India's economic growth is likely to reach pre-COVID-19 levels by the end of the 2021-22 fiscal as the GDP contraction in this financial year is expected to be less than 8 per cent, Niti Aayog vice chairman Rajiv Kumar said on Sunday. The Reserve Bank of India (RBI) has also revised its forecast of economic growth for the current fiscal year (2020-21) to (-)7.5 per cent as against its earlier forecast of (-)9.5 per cent.
Amid a controversy over the rejection of West Bengal's tableau for the Republic Day parade themed on Netaji Subhas Chandra Bose and his Indian National Army, his daughter Anita Bose Pfaff said on Monday the legendary freedom fighter's legacy has often been 'partly exploited' for political reasons.
The Union ministry of coal, while acknowledging that domestic coal stock is not enough to meet the power demand, asked state governments and the power generating companies (gencos) to import coal before monsoon season sets in. The ministry has warned the gencos if they do not import coal for 10 per cent blending in their fuel demand by the end of this month, blending benchmark would be increased to 15 per cent. The order pertains to all - central, state and independent power producers (IPPs)/privately owned units.
Road construction witnessed a near 60 per cent year-on-year jump in the first two months of financial year 2021-22 (FY22), despite restrictions being imposed in the wake of the second wave of Covid-19. Around 1,470 km of roads were constructed during the first two months of the current fiscal, as against 847 km in the corresponding period last year, according to official figures. However, these are provisional numbers as the state public works departments of Maharashtra and Goa are yet to provide data.
Given the economic trends, it might make sense to allocate some savings to gold.
'Top lines will grow, volume growth will be there, but margins might also be impacted.'
Many weekly indicators turn positive as economy prepares for Unlock 3.0.
As many as 403 infrastructure projects, each worth Rs 150 crore or more, have been hit by cost overruns of over Rs 4.05 lakh crore owing to delays and other reasons, according to a report.
The government will seek Parliament's approval for Rs 37,000-crore additional spending on infrastructure development in the second batch of supplementary demands for grant. Earlier this month, Finance Minister Nirmala Sitharaman had announced additional budget of Rs 25,000 crore as capital expenditure (capex) on roads, defence, water supply, urban development and domestically produced capital equipment. Besides, the central government approved issuance of a special interest-free 50-year loan to states of Rs 12,000 crore for infrastructure development.
Industrial production contracted by 1.9 per cent in November, entering the negative territory after a two-month gap, mainly due to poor showing by manufacturing and mining sectors, official data showed on Tuesday. The manufacturing sector -- which constitutes 77.63 per cent of the index of industrial production (IIP) -- recorded a contraction of 1.7 per cent in November 2020, as per data released by the National Statistical Office (NSO). Mining sector output too witnessed a decline, shrinking 7.3 per cent.
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