Sri City in Andhra Pradesh is dubbed the "Cooling City" of India, accounting for nearly 40 per cent of the air conditioners (ACs) manufactured in the country. On Tuesday, this industrial hub added one more feather to its cooling credentials. Carrier Air Conditioning and Refrigeration Ltd, the Indian arm of the oldest AC company in the world, Carrier Global, signed a deal to invest around ~1,000 crore for a new manufacturing unit at Sri City.
As lower GST rates take effect on Monday, sales of air-conditioners, TV sets surged dramatically with buyers rushing to grab cheaper deals offered by retailers at the beginning of the Navratra festival.
The appliance makers expect a good churn in the festive season, led by the government's proposal to reduce the GST slab on air-conditioners from the current 28 per cent to 18 per cent, which will reduce the price from Rs 1,500 to Rs 2,500 depending on the models.
Consumer durables makers are hopeful that the government's proposal to reduce goods and services tax (GST) on air conditioners and television panels above 32 inches to 18 per cent would help revive the sector.
'The earlier a child is given a smartphone, the worst it becomes when they are 17, 18.' 'Every year you delay in giving a smartphone to child, the outcome becomes better.' 'The behavioural changes that are very specific to smartphones are aggression and anger.'
Thiagarajan, who had primarily restricted his aviation activities to south India, is now locating stars of fortune in western and central India for possible acquisitions
'If gold's recent surge has increased its allocation beyond 15 per cent in your portfolio, now may be a good time to rebalance.'
As temperatures shoot up this month signalling an early onset of summer, sales of air conditioners (AC) are set to increase, with companies expected to hike the prices of ACs by 4-5 per cent due to component shortages. Leading players like Haier and Bluestar and suppliers like EPack Durables have raised their production capacities to meet the 25-30 per cent rise in demand expected in the coming months.
'We also realised that locking customers to our Cloud was not fair to them.'
Since 2008, the Bureau of Energy Efficiency is running a star rating programme, under which electric equipment are rated according to their efficiency. This in turn helps the consumers save electricity.
Container prices have shot up by up to 300 per cent in the past one month owing to geopolitical tensions between Israel and Iran following the former's attack on Hamas, causing shortages and pushing consumer durables companies to increase prices. Companies have planned increases but some are yet to decide on the extent of the increase.
Gold, a safe-haven bet, is likely to continue its record-smashing journey in the New Year, rising to Rs 85,000 per 10 grams and even Rs 90,000 level in domestic markets if geopolitical tensions and global economic uncertainties continue.
'During the scorching summer months of election season, largescale outdoor gatherings create a prime opportunity for increased consumption in the packaged drinking water category.'
While SGBs are a sound investment, they aren't worth buying at any price. The interest income you earn from them will not justify paying a high premium.
Divya Nair recommends that non-Vijay fans save their money and wait for GOAT to drop on Netflix instead. At least you can fast forward and get to the climax faster.
Several groceries in the metro ran out of milk, curd, bread, and milk powder and some of them displayed "no milk, curd" boards.
The new Samvat 2080 is viewed as a year of hope for industrial and precious metals. A key reason is the expectation of US interest rates peaking, followed by a reduction in the coming months. Regarding crude oil, its trajectory depends more on how the situation unfolds in West Asia.
'It is the best avenue for investors who would like to take long-term exposure to gold.'
'The darker it is, the more our chances of emerging stronger in the light.'
Consumer goods firms and auto companies are witnessing an upturn in rural demand, which had been lagging for most of FY24. Expectations of a bumper rabi crop harvest have helped turn the tide. The Reserve Bank of India's (RBI's) Monetary Policy Committee kept the repo rate unchanged last week, noting that as rural demand catches up, consumption is expected to support economic growth in 2024-25.
Gold, the safest haven amid the ongoing uncertainty, also emerged as one of the most lucrative investment options in financial year 2022-23 with an impressive return of 16.1 per cent in rupee terms, and 2.3 per cent returns in dollars. And, had it not been for the very high inflow of smuggled gold and the huge discount prevailing in the market due to high prices, the returns in gold would have been much higher, analysts said. The precious metal has consistently been delivering positive returns in India since 2016.
Finance Minister P T R Palanivel Thiagarajan has proclaimed his determination to set Tamil Nadu's fiscal house in order in five years, and Friday will show how he plans to go about it when he rises to present the Stalin government's maiden budget, says N Sathiya Moorthy.
'With free software on the Internet and apps, creating a deepfake video can take 3 to 5 minutes. Anyone can make these videos.'
An Indian Army soldier, who was severely thrashed by a DMK functionary and his accomplices, succumbed and six people have been arrested in connection with the crime, the police said on Wednesday.
Consumer durable companies will again start to face a supply issue of components as China extends lockdown due to its zero Covid strategy. This will impact the flow of finished products into the Indian market, unlike last year, this impact will be felt post Diwali. While supply chain issues have been a problem since the start of the pandemic, China's zero Covid strategy has also posed another risk for consumer durable companies.
Things may not always look bright, but the sun won't stay out forever is a running theme conveyed across its short films about people from various walks of life in all their varying moods and musings, applauds Sukanya Verma.
Jewellers in India, the world's second largest gold consuming country after China, have started receiving more inquiries for purchase of gold or silver immediately after the Reserve Bank's announcement to withdraw Rs 2,000 notes from circulation. However, there is no panic buying of the precious metal unlike the situation witnessed in 2016 during demonetisation, jewellers body GJC said on Sunday. In fact in the last two days, the actual gold purchase has been less in exchange of Rs 2,000 notes due to strict Know your Customer (KYC) norms although sources said some jewellers have started charging a 5-10 per cent premium, taking the gold prices to Rs 66,000 per 10 grams level.
Sukanya Verma lists everything you can watch on streaming platforms this weekend.
'It would have made (Producer) Ramesh Taurani very happy if I taken two Bombay stars, but the reason why I kept mentally rejecting the regular sort of casting was to discover this excitement, you know, can I crack it?'
'There are many things we need to work on.' 'At the heart of it is, one, the extent of inequality, which is not good for democracy and nation; two, a structural decline on how a country ought to function, how people should be held accountable, whose role is what.'
'The financial situation of Tamil Nadu is much worse than it was in 2016.' 'The finance minister's is a horrendous job.' 'I am certainly not going to ask for it.'
He was expected to report for duty on February 10, according to Rama Nandagopal, president of Krishnagiri district BJP ex-servicemen wing.
'Within a short span, it increased attendance, improved children's physical fitness, and led to a rise in the enrolment ratio.'
Gold, which lost its sheen to some extent in the second half of 2021, is likely to regain the glitter in the New Year and cross the Rs 55,000-per-10-grams level amid pandemic woes, inflation worries and stronger US dollar. After a stellar run up in 2020 when the yellow metal touched a record high of Rs 56,200 on the MCX in August, the prices are near Rs 48,000 per 10 grams now. This is roughly 14 per cent lower from the all-time highs and 4 per cent lesser compared to January 2021 levels.
Chief Minister MK Stalin has shown that he is cut from a different cloth when it comes to embracing what is current, modern and absolutely necessary. Thus, even while retaining the spirit and content of the pan-Tamil, Dravidian socio-political and socio-economic ideology to the 't', his government has also acknowledged the need to accepting scientifically-proven facts in operational matters, says N Sathiya Moorthy.
The Tamil Nadu chief minister may have opened a Pandora's Box on the religion front with the appointment of qualified non-Brahmin temple priests, observes N Sathiya Moorthy.
Tamil Nadu Chief Minister M K Stalin's Cabinet, including him, would be 34-member strong and he has retained senior leaders like Duraimurugan and over a dozen shall be ministers for the first time.
Former Prime Minister Manmohan Singh on Tuesday said the media needs to remain vigilant and flag shortcomings of the government with a view to improve the effectiveness of governance.
A yellow glow is likely to stand out amid grey geopolitical clouds in 2023, with gold price projected to touch Rs 60,000 per 10 grams in the Indian market as more investors veer towards safe-haven assets. In a year where volatility was more a norm than an exception, gold prices in the international market oscillated from a peak of $2,070 per ounce in March to a low of $1,616 per ounce in November and is steadily recovering since then, according to market experts. At the beginning of 2022, gold prices were around $1,800 an ounce.
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