The automobile sector has started seeing volume growth, the crucial economy segment included. Maruti Suzuki India (MSIL) could be a big beneficiary as the country's largest passenger vehicle (PV) maker has seen several favourable developments including volume recovery. Demand for its new sports utility vehicles (SUVs) appears to be good, and the company has 4 lakh outstanding orders by April 2023, (up from 3.6 lakhs in January 2023). Siam (Society of Indian Automobile Manufacturers) estimates that passenger vehicle demand would grow by 5-7 per cent in the 2023-24 financial year (FY24) and MSIL is likely to beat the market growth.
The Sikkim Government has confirmed that 14 people have died so far in the flash floods that occurred in Sikkim in the early hours of Wednesday.
Back home, the Nifty IT index - a gauge of the performance of the IT stocks on the National Stock Exchange (NSE) that has closely mirrored the performance of NASDAQ over the past few years - has lost nearly 2 per cent in CY23.
Petrol and diesel prices are likely to be hiked this week as oil companies prepare to pare losses accumulated from keeping rates steady for over four months in the run-up to assembly elections in five states, including UP, despite international oil prices jumping to a 13-year high of $140 per barrel. West Texas Intermediate crude futures, the US oil benchmark, rose to $130.50 per barrel on Sunday evening, its highest since July 2008, before retreating. The international benchmark, Brent crude, hit a high of $139.13 at one point overnight, also its highest since July 2008.
The 30-share Sensex gained 321 points to end at 26,430 and the 50-share Nifty surged 100 points to end at 7,879.
HAL is also integrating the Advanced Short Range Air-to-Air Missile onto the Mark 1A. Each Tejas will carry two of these missiles.
India Inc is gearing up for a slugfest this year and from tech to paints, new battlegrounds are emerging, observes Indrajit Gupta, co-founder, Founding Fuel.
The unrest in Chennai Super Kings camp once again came to the forefront after senior batter Ambati Rayudu announced his retirement from IPL at the end of the season on social media, only to backtrack within an hour after being talked out of it by the team management on Saturday.
Equity mutual funds attracted an all-time high net inflow of Rs 28,463 crore in March, on continued interest by retail and HNI investors, who used market correction as a good buying opportunity.
'The signal is crude oil prices will rise, I am cutting my subsidy. Be prepared, prices will rise.'
Cutting back on travelling, using renewable bio-fuels, thinking twice before firing up that laptop are among activities that can not just contribute to greening the planet but could get you also hefty discounts on trendy apparel and other major branded goods.
Two aborted missions, three different ministers, multiple rule changes and two decades later, Indian taxpayers will no longer have to pay Rs 20 crore per day to keep the loss-making Air India flying. While opposition Congress expectedly attacked the decision as selling the family silver, DIPAM secretary Tuhin Kanta Pandey said what Tata is getting is not a cash cow but an airline which is bleeding where money needs to be pumped in to refurbish obsolete aircraft and dust up strangled ones while being unable to touch any employee for one year and only be able to resize staff after paying a VRS. "It won't be a very easy task there. Only advantage is they (new Air India owner) are paying the price which they think they can manage. "They are not taking the excessive debt accumulated to fund years of losses. We are continuing it as an ongoing concern.... This process has also saved huge amount of taxpayers money going forward," Pandey told PTI.
Delayed compensation and rising working capital requirement force oil marketing firms like IndianOil to turn to borrowings.
The resurgence of COVID-19 has dented but not debilitated economic activities in the first half of Q1 of the current fiscal even though caseload of infections is much higher than before, according to an RBI article. The ferocity of the second COVID-19 wave has overwhelmed India and the world, the article said, adding that war efforts have been mounted to stop the surge in its tracks. "The impact of the second wave on the real economy seems to be limited so far in comparison with the first wave. Evidently, the localised nature of lockdowns, better adaptation of people to work from home protocols, online delivery models, e-commerce and digital payments are at work," the article on the state of economy authored by RBI Deputy Governor M D Patra and other officials said.
On the other hand, jobs increased for the 10th straight month in the manufacturing sector, albeit only slightly
The mission has been extended by another six months due to surplus fuel
'We have no time for meals. We don't sleep on time or have family or community interactions.' 'All this stress has made us pressure cookers without valves.' 'No wonder then we are bursting out with heart attacks,' points out Dr Udgeath Dhir, director, Fortis Memorial Research Institute, Gurugram.
Every option before the finance minister comes with a price tag, observes T N Ninan.
According to senior IMD scientist Kuldeep Srivastava, clear sky or absence of clouds allows sun rays to reach the ground, warming up the air close to the ground which lifts up and clears the pollutants.
Gold, which was hovering around $1,321 an ounce in January 2019, has already breached $1,600 per ounce in the past few sessions to a seven-year high.
India suffers from peak power deficit of three per cent.
'This fall is nothing. We could see worse if everybody hits the panic button.'
'What has taken the government so long to understand what the people of this country are going through?'
The services sector had slipped into contraction in July as confusion caused by the GST rollout triggered a dip in new business orders.
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Increasing the duties on auto parts and putting an additional cess on petrol and diesel could drive up costs of vehicles, specially where volumes are low and localisation is not viable.
'And for the developing lungs of our children, this should not be tolerated. Not at all,' says Sunita Narain.
'Good economics isn't necessarily bad politics, or vice versa,' says Shekhar Gupta.
Scientists used a new calibration of data taken from NASA's Moon Mineralogy Mapper which flew aboard Chandrayaan-1 spacecraft in 2008.
'The probability of this being a suckers' rally, where all kinds of beaten down stocks have begun to rally sharply, should be a time to be cautious and circumspect.'
Ajai Shukla presents an action plan for Defence Minister Rajnath Singh to fix the systemic weaknesses in defence.
The sharp fall in oil price is positive for oil marketers as subsidy concerns reduce further.
New Delhi's overall air quality index read 456 at 4 pm, up from 425 at 4 pm on Tuesday.
A road map could be laid out for a gradual reduction in the tax rates from the current incidence of about 62-94 per cent without causing a major blow to the revenues of the Centre and the states. The opportunity arising out of higher GST collections should not be squandered, says A K Bhattacharya.
The finance ministry has short listed 11 PSUs for a possible buyback of shares in the ongoing financial year
The company has also advised power firms to use trucks to carry coal from remote mines, like the Amrapali open cast pit in eastern Jharkhand state.
As many as seven passengers aboard the Boeing 777 Pakistan International Airlines flight PK-743 (Karachi-Madina) on January 20 were forced to stand throughout the over three-hour flight after the airline boarded excess passengers, Dawn newspaper reported.
Maruti has improved its sales in the recent past.
Petroleum being out of the goods and services tax initially will create some anomaly as tax credit on some of the inputs to oil industry may not be given, said revenue secretary Hasmukh Adhia.
