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The wholesale price index, the main inflation indicator, rose an annual 6.84 per cent in February, higher than the 6.54 per cent rise estimated by analysts.
Abdullah said if the gap between the communities is to be bridged, the hateful campaigns like The Kashmir Files film and incessant Hindu-Muslim debates on the media have to be stopped.
Lower fuel costs and tight control on expenses propped up earnings before interest, tax, depreciation and amortisation (Ebitda) margins to one per cent.
With fuel cost soaring to new highs, automobile firms are launching hybrid models to tackle the problem.
The country's largest carmaker Maruti Suzuki India (MSI) aims to sell 4-6 lakh CNG units in the current fiscal year depending upon supply situation of essential components, as per a senior company official. The company sold about 2.3 lakh CNG units in 2021-22. MSI currently sells nine of its 15 models with CNG powertrain and is looking to drive in more models with such technology in the coming days.
Strong performance by its US subsidiary Novelis and better returns in the copper business helped Hindalco Industries post consolidated revenue growth of 2 per cent quarter-on-quarter (Q-o-Q) to Rs 54,100 crore in the July-September quarter of 2023-23 (Q2FY24). Novelis' Flat Rolled Products (FRP) volumes grew 6 per cent Q-o-Q to 933,000 tonnes (down 5.2 per cent Y-o-Y) on better North American and European volumes. The consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) declined 2 per cent Q-o-Q to Rs 5,610 crore despite lower input costs in India and better Novelis performance.
The study, conducted by travel portal TripAdvisor, also found that 44 per cent of Indians plan to spend more on leisure travel next year despite the current economic climate.
No IndiGo flights will be available on the Mumbai-Bangkok route from March.
Tata Motors is looking to increase passenger vehicle prices from next month in order to make its model range compliant with stricter emission norms which kick in from April 1 next year, according to a top company official. In an interaction with PTI, Tata Motors Managing Director - Passenger Vehicle and Electric Vehicles Shailesh Chandra said the price revision would also offset the impact of commodity prices, which have remained high for the most part of the year. "The regulatory change will have its impact on the cost. Even the real impact of softening of commodity prices is only going to come from next quarter and we still have the residual impact of the commodity escalation that we have seen during the year," Chandra said.
Aircraft reconfiguration and Kingfisher's slide help the airline consolidate its top spot, but widening losses and IndiGo's rapid rise are big concerns.
The prices of petrol and diesel have been recently hiked and more can be expected in coming months. A few tips on how to make your litre of petrol go the distance.
Automobile retail sales in India increased by 37 per cent in April on a low base of COVID-hit April last year, automobile dealers' body FADA said on Thursday. Total sales across categories rose to 16,27,975 units in April, as compared to 11,87,771 units in the year-ago period. On a year-on-year basis, all vehicle categories including passenger vehicles and two-wheelers were up as compared with April last year.
The company had recently stopped production of petrol models, including the Alto, M800, A-Star, Estilo and Omni for three days to prevent inventories piling up further.
India will require 1,740 planes over the next 20 years.
Maruti Suzuki, riding on the success of models like Swift, Estillo and Dzire, posted a growth of 3.4 per cent over the same period in the previous fiscal.
The proposed return of refuelling to Formula One in 2017 will only happen if it is affordable, according to Mercedes motorsport head Toto Wolff.
Since $4-5 billion (Rs 18,670-23,340 crore) will be needed to set up each nuclear reactor, capital costs alone add up to $200-250 billion (Rs 9,33,600-11,67,000 crore). Then there are fuel costs, nuclear waste disposal, reprocessing, consultants & advisors and, of course, the financial market aspects of raising all that money.
Ruling out any immediate hike in the air fares despite 'worrying scenario' of rising fuel costs, Indian Airlines on Monday said it may make net profits this fiscal if the buoyancy in the air travel continues.
The cap on cylinders would burden the Centre, which will need to compensate the states for the increased cooking fuel cost.
Higher price tag and soaring fuel costs have swayed buyers away from the ultra compact car over the months.
The airline industry was impacted last year by the global economic slowdown but the growing Indian and Chinese markets are expected to help boost the sector, Civil Aviation Minister Ajit Singh said.
With the increased death rate in the ongoing second wave of Covid-19, domestic cement companies are in no better condition than they were in the April-June quarter of FY21 when the country faced nationwide lockdown. "This wave has had high death rate which has impacted the business. "We are in no better situation than last (year) April. "Deaths of drivers, dealers, contractors and also employees have hit the industry really very hard since April (FY22)," M Ravinder Reddy, director of Bharathi Cements said.
Car sales in India slumped 25.7 percent in February, the biggest fall in more than 12 years and the fourth consecutive monthly slide, as sluggish economic growth continues to weigh on demand.
India's climate change goals are turning combustible. On the one hand, a protracted dispute between the government and manufacturers over subsidies threatens to slow the pace of electric vehicle (EV) sales. On the other hand, repeated assertions by different arms of the government over banning sales of new fossil fuel-fired vehicles have queered the pitch for energy investments. Before we address the issue of the recommended diesel vehicle ban in the recent report on energy transition, issued months before the next round of global climate talks begin in Dubai in November, let's look at what's at stake.
Austerity, and not necessity, appears to be the mother of invention these days with the economic slowdown forcing companies to explore new ways of doing businesses.
While in the case of bigger cars, the industry wants the distortion with smaller cars and the tax differentials to be narrowed, it wants duties to be reduced from 24%-27% to a uniform 22% irrespective of size of the vehicle and its engine displacement.
Officials from State-run refiners contend that savings from purchase of Russian oil are used to offset a part of the losses in revenues from selling transport fuels and LPG at State-set rates.
IOC along with HPCL and BPCL took a hit of about Rs 4,500 crore from absorbing Re 1 a litre hike.
Currently, the only solutions are highly toxic and environmentally damaging marine paints, which are specifically designed to leach biocides to prevent organisms settling on the hull.
Three fuel retailers -- Indian Oil Corporation, Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited -- lost about Rs 26,618 crore (Rs 266.18 billion) in revenues on selling petrol, diesel, domestic LPG and kerosene below cost during the first half of the current fiscal, a ministry official said.
The company solf the frequent flyer business.
The government has reduced the windfall profit tax levied on domestically-produced crude oil as well as on the export of diesel and ATF, in line with softening international oil prices, according to an official order. The levy on crude oil produced by companies such as Oil and Natural Gas Corporation (ONGC) has been cut to Rs 1,900 per tonne from Rs 2,100 per tonne, the order dated January 16, said. Crude oil pumped out of the ground and from below the seabed is refined and converted into fuel like petrol, diesel and aviation turbine fuel (ATF).
Rising aviation turbine fuel cost, poor infrastructure, regulatory controls and reluctance of consumers to take to air travel are some of the issues hurting aviation industry in the country, Deccan Aviation executive chairman Captain G R Gopinath said.
The government has asked oil companies to ensure the April 1 deadline is met at all cost, for the introduction of ultra low sulphur auto fuels.
The basket of crude oil that India buys has hit a decade high of $121 per barrel, but retail selling prices of petrol and diesel continue to remain frozen. The Indian basket on June 9 touched $121.28, matching levels seen in February/March 2012, according to data available from the oil ministry's Petroleum Planning and Analysis Cell (PPAC). As per the PPAC, the Indian basket of crude oil averaged $111.86 per barrel between February 25 and March 29 - the immediate period after Russia's invasion of Ukraine sent oil on fire.
Milk and its products too were less expensive with inflation print of 4.21 per cent, cereals and products at 2.10 per cent, meat & fish at 3.31 per cent while for eggs the prices grew at a slower pace of 8.51 per cent.
The national carrier's capacity is expected to grow by 9.2 per cent with the addition of six more Boeing 787 Dreamliners to the fleet, they said. As of February this year, the airline has 13 Dreamliners in its fleet out of a total order of 27.
Jet Airways returns to profit after seven straight quarterly losses
