The IIP data showed a significant slowdown in the manufacturing sector, which grew at 4.2 per cent in July 2019 as compared to 7 per cent a year ago.
Unlike the race to buy airwaves by telecom companies, airports by infrastructure companies and city gas networks by energy companies, the race to develop super apps by consumer-facing companies in India has not brushed up against any regulatory issues. Officials at the ministry of electronics and information technology and at other regulators are happy they do not have to meddle in who among the Tata group, Reliance Industries Ltd, Flipkart or Paytm will manage to build an app that sweeps in customers. Unlike separate apps a customer uses on her mobile to order groceries, buy food or airline tickets or just make payments, a super app can perform all these functions.
At the moment, it has only personal computer monitors in its portfolio.
Chennai-based electronics and consumer durables chain Viveks is the country's largest multi-product, multi-brand service centre. B A Kodandaraman, the 72-year-old chairman & managing director, knows it is after-sales service that will separate the men from the boys in the highly competitive retail sector, especially when big corporate houses are muscling their way into the segment.
The 50-share NSE Nifty slipped below the 10,700-mark and finished at 10,679.65 -- down 38.40 points, or 0.36 per cent.
Yes Bank was the top performer in the Sensex pack, surging 8.26 per cent, after the private lender reported a 29 per cent rise in its net profit
In terms of industries, 17 out of 23 industry groups in the manufacturing sector have shown negative growth.
Goyal said India has been recognised as brightest spot in the world in last five years.
With consumers staying indoors and e-commerce firms extending their reach to a larger number of pin codes, these giants have snatched a larger share from the offline traders this season.
The market breadth was slightly in the negative. Out of the total 2927 total stocks traded on the BSE, 1388 stocks have advanced, while 1402 stocks declined.
IT, FMCG and manufacturing sectors are less attractive to foreign portfolio investors
The hike in prices of these items has come about over and above milk, onion, garlic, and other vegetables which have become expensive in the past few weeks.
Led by fast-growing sectors such as telecom, consumer durables and real estate, HR experts feel that hiring is most likely to jump.
There was a slowdown in the manufacturing sector, which grew at 1.2 per cent in June 2019 as compared to 6.9 per cent a year ago.
The Sensex ended 107 points higher at 19,799 today, and has gained around 560 points in the last three days.
On the sectoral map, consumer durables stayed in the lead by surging 2.39 per cent, followed by realty index, oil and gas and infra.
To make possible discretionary spending including capex and that on welfare, the government decided to borrow more than planned in FY21 -- Rs 12.7 trillion.
Korean consumer durables major Samsung on Wednesday introduced 60 new products across all categories in India with an eye on achieving a 40 per cent jump in sales to $ 4.9 billion in the country by year-end.
Korean consumer durables LG on Monday announced its entry into the Indian water purifier market and said it aims to be a major player in the category by offering a range of products across all segments of consumers.
In fact, some private sector lenders have decided to skip advertising these altogether.
This Dhanteras, try a newer way to invest in those precious metals, without having to worry about its safety.
'That it is happening in the second half of the year, during the festive season, will only encourage many to step up advertising.'
The ongoing economic buoyancy in India despite global economic melt down has offered opportunities for rapid growth of consumer durable industry, and in particularly air conditioners and refrigeration industry.
The study suggested tax rebates for high-end technology companies that set up research and development centres in India.
Mandarins in the home ministry may be having sleepless nights as violence brews in the Naxal-infested state of Jharkhand, but it is a different story for business here.
India's industrial sector grew by 9.1 per cent in September against 6 per cent in the same period last year.
An old consumer electronics warhorse looks to leverage its past.
Korean consumer durables major LG on Friday said it will invest Rs 800 crore (Rs 8 billion) in 2011 to add capacity and for other purposes in India, which it expects will become its largest air-conditioner market in the world by next year ahead of the current leader US.
The broader NSE Nifty, after shuttling between 10,649.25 and 10,782.30 points, finally settled 90.50 points, or 0.84 per cent lower at 10,663.50.
The 50-share NSE Nifty ended flat, up by 9.85 points, or 0.09 per cent, at 10,399.55.
Consumer durables firm, Philips, will up investments in emerging growth markets like India and China by 27 per cent this fiscal over the previous year.
This deferred or reduced spending is now extending across most major consumption sectors such as discretionary food and groceries, clothing and home textiles, consumer durables and home appliances, jewellery, furniture and furnishings, leisure travel, and entertainment. Oddly, the response of many manufacturers, marketers and retailers has been counter-intuitive.
Videocon Industries surged 6.3%, Blue Star rose 6% and Titan Industries rallied 3.5% by close of trade on Friday.
There is no change in prices of long steel products, consumed mainly by the infrastructure and construction firms.
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