With automotive sales entering into a sluggish period, leading commercial vehicle makers are enticing buyers by doling out discounts and lucrative finance options. Tata Motors, for instance, recently run a scheme wherein commercial vehicle buyers would get three months' waiver on equated monthly installments on the vehicle loan. The response, according to the company, was very positive.
Iran has offered discounts on crude oil price and free shipping if India agrees to buy more of its oil.
The Enforcement Directorate has summoned Bihar deputy chief minister Tejashwi Yadav and his father and Rashtriya Janata Dal chief Lalu Prasad Yadav for questioning in the railways land-for-jobs money laundering case probe, official sources said on Wednesday.
Private airlines Jet Airways and IndiGo joined the race for low-fares, offering their customers hefty discounts, after Air India rolled out a similar offer to challenge Vistara, the latest full-service entrant in the domestic market.
Companies are luring voters with special discounts, offers and freebies.
The sector may be overcrowded with a fair number of large players and the entry of the Adani Group through its two key acquisitions, followed by the takeover of majority stake in Sanghi Industries via Ambuja Cements. Since every major player is in expansion mode, there could be a capacity surplus and hence, price wars.
The charge sheet has been filed before a special Prevention of Money Laundering Act (PMLA) court in Delhi and the court has listed the matter to be heard on January 16, the sources said.
Actively managed debt funds with the flexibility to go long on duration made a strong comeback on the returns chart in 2023, thanks to softening bond yields. The average one-year returns of floater, long-duration, gilt, and dynamic bond funds, which ranged between 2.3 per cent and 4.5 per cent at the end of 2022, now stand at over 7.2 per cent, with some schemes delivering over 8.5 per cent, according to data from Value Research. Debt fund returns are inversely related to yields of underlying investments, meaning a decline in yields is positive for funds.
Top carmaker Maruti Udyog will give freebies of up to Rs 28,900 on its two car models this week to counter a similiar offer by arch-rival Hyundai.
India's trade account could come under pressure and there could be an inflation push if crude oil prices remain above the $90 per barrel (Brent) for a prolonged period since India imports over 85 per cent of its oil and roughly 50 per cent of its gas. A rebound in economic activity is bound to lead to higher fuel demand. While India is the third-largest importer of crude, it is a net exporter of refined products, which helps to compensate to some degree.
According to Ketan Shroff of Pushpak Bullions Pvt Ltd, "Traders are selling at Rs 14,900 -- 14,950 per 10 gm presently, which was Rs 100-150 lower than the landed cost." He added, "The consumer price depends upon customers' needs as some in dire need of money sell at prices lesser than Rs 14,900 per 10 gm while others attract customers through price negotiations."
The toughest part is to tackle human behaviour. On the Atal Setu, says Indrajit Gupta, I chose to drive at a consistent speed of 80 kmph in the middle lane. Vehicles on the right lane were clipping along at 150 kmph, way over the maximum permissible limit of 100 kmph. On occasion, I had to slow down or dodge vehicles suddenly pulling into the middle lane from the side.
The divestment ministry on Tuesday favoured discounts to retail investors in the forthcoming public issues in six companies beginning with public float of IPCL on February 20.
Debt management is going to be a worry for the Vedanta group until FY25 at least. However, the restructuring of business divisions in Vedanta India could lead to an unlocking of values. The group structure is fairly complex. Anil Agarwal-led Vedanta Resources (VRL), which is London-listed, has a lot of debt on the balance sheet. It will have to repay $1 billion in secured bonds by January 2024 and at least another $300 million in calendar 2024.
The new discounted fares are Rs 10 (3 km), Rs 15 (8 km) and Rs 20 (20 km).
The discount offer is valid in all classes for booking starting tomorrow till September 14 and for travel between October one till December 15, an airline statement said.
Cable operators on Wednesday began offering pay channel bouquets at about 50% discounted prices in South Delhi since most consumers are wary of the steep increase in the cable bill under CAS and are yet to invest in set top boxes.
India is expected to ramp up its purchase of crude oil from the United Arab Emirates (UAE) in the coming months following discussions between the two countries on the sidelines of the ongoing COP28 summit in Dubai, multiple sources in the know said. The UAE has historically been India's third-largest source of crude. It has suffered the largest drop in shipments since Indian refiners began to binge on Russian crude in 2022.
Global oil prices have slumped and India has access to larger amounts of discounted Russian crude oil, yet refiners are not passing on their savings to consumers
After massive cancellations of Jet Airways flights during the five-day strike last week, the private carrier has seen a surge in the number of passengers that it has flown in the last three days - thanks to an aggressive discount of up to 50 per cent on some tickets on all its flights.
The 35 per cent travel discount comes in the wake of racist attacks made on international students including Indians and aims to benefit students who stay away from their colleges or universities in particular.
The government on Friday announced it will release onion from its buffer stock in the targeted regions with immediate effect to ensure prices remain under check till the new crop arrives from October onward. The government is exploring multiple options for disposal of onion: e-auction, e-commerce as well as through states at discounted rates via retail outlets of their consumer cooperatives and corporations, it said. The government has currently maintained 3 lakh tonnes of onion under the Price Stabilisation Fund (PSF) to meet any exigencies, if rates go up significantly during the lean supply season.
Recent RBI data indicates net addition of credit cards is running strong at 18 per cent year-on-year (Y-o-Y), but growth in credit card limits is ahead of loans outstanding. Growth in lower limit cards is decelerating fastest. The West and South have more usage and online transactions are more popular than offline, with metros leading growth.
Price-wary customers, waiting for good bargains in the festival season this year, are likely to be disappointed.
During 2023, the Indian real estate sector - both housing and commercial - witnessed buoyancy fuelled by demand, supply, and absorption, and the sector is banking on the upcoming Budget to keep the momentum going. Mumbai-based Sattva Group wants the government to focus on the critical pillars for long-term growth. The company emphasised on the infrastructure boom with increased allocation, lower goods and services tax (GST) rates, incentives for affordable housing and single-window clearance to fast-track projects and support liquidity.
This year, leading companies such as Samsung, LG, Haier and Whirlpool are launching a slew of products to push sales during the festive season, minus the discounts.In the previous years, the focus during the season was to create excitement around promotions, discounts and the free gifts. This year, the industry seems to be counting on shifting the focus to the new products being launched in the market, with a view to provide more value-added options for the consumer.
Constituencies that are going to the polls in the first phase, slated for April 19, have just 19 days for campaigning. Contrast that with those going to polls in the 7th phase, notes N Sathiya Moorthy.
Grandmaster Vidit Gujrathi on Tuesday said "everything came together" for him at the Grand Swiss event on his way to the Candidates.
India's imports from Russia rose by about 67 per cent to $30.42 billion during the April-September period this fiscal on higher shipments of crude oil and fertiliser, according to the commerce ministry data. With this, Russia has become India's second-largest import source during the first half of this fiscal. The imports were $18.24 billion during April-September 2022.
Indian exporters on Monday said the fluctuating rupee will not only raise imports bill but would also lead to volatility affecting their businesses.
The country's imports from Russia almost doubled to $25.69 billion during the April-August period this fiscal due to increasing inbound shipments of crude oil and fertiliser, according to the commerce ministry data. With this, Russia has become India's second-largest import source during the first five months of this fiscal. The imports were $13.77 billion during April-August 2022.
IT major HCL Technologies' Shiv Nadar has retained his position as the 'most generous Indian' in 2023 as well, with a 76 per cent jump in his donations at Rs 2,042 crore. Wipro's Azim Premji's donations zoomed by 267 per cent to Rs 1,774 crore during the same year, according to the Edelgive Hurun India Philanthropy List 2023 released on Thursday. Richest Indian Mukesh Ambani donated Rs 376 crore in the year, which is an 8 per cent decline.
French banking major BNP Paribas is planning to sell its domestic retail broking unit, Sharekhan, according to news reports on Tuesday. The reports even named leading financial institutions as possible suitors. "We would not be able to comment on the mentioned queries at this time," said a company spokesperson in response to a query from Business Standard seeking clarification on the news item.
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But no general trade, because that is a completely different channel of distribution.
It is GoAir's endeavour to provide the best fares and most convenient flight options to its customers who are always on the lookout for new and affordable alternatives, its chief executive Giorgio De Roni said.
The company is betting on the country's long-term growth potential.
Both the phases of the FPO may see SAIL and government selling five per cent equity each -- while a total of 10 per cent shares could be sold in the current fiscal with the remaining during the next fiscal.
Courier and package distribution company Blue Dart will offer a 50 per cent discount on delivery charges to students applying to different universities across India.
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