'There is a need for a national task force with a singular objective to increase automotive exports.'
India's industrial production rose 19.6 per cent in May 2022, according to the official data released on Tuesday. As per the Index of Industrial Production (IIP) data by the National Statistical Office (NSO), the manufacturing sector's output grew 20.6 per cent in May 2022. In May 2022, the mining output climbed 10.9 per cent, and power generation increased 23.5 per cent.
Talking to PTI Amarjeet Kaur, General Secretary of All India Trade Union Congress (AITUC), said, "The two-day nationwide strike by the joint forum of central trade unions has begun this morning". About the impact of the agitation, she said that the entire coal belt (mining area) is affected in Jharkhand, Chhattisgarh and Madhya Pradesh. She also said that there is a good response in industrial areas of Assam, Haryana, Delhi, West Bengal, Telangana, Kerala, Tamil Nadu, Karnataka, Bihar, Punjab, Rajasthan, Goa, Andhra Pradesh and Odisha. The AITUC official noted that the banks and insurance sectors are affected all over India, while steel and oil sectors are also seeing partial impact due to the strike. Kaur said that she has got preliminary reports that markets are closed in Odisha.
India's industrial output grew a better-than-expected 6.4 per cent in August compared with a downwardly revised 4.1 per cent growth a month ago.
Mining magnate Anil Agarwal's conglomerate on Friday announced a major business shake-up, with flagship Vedanta Ltd approving a spin-off of its metals, power, aluminium and oil and gas businesses into separate listed entities and an overhaul of lucrative zinc unit planned as part of value creation and reducing debt load. Vedanta will issue one share of the five demerged businesses for every share held in the company, the firm said in a statement. The entire exercise, which would require shareholder and lender approval as well as a nod from the stock exchanges and courts, is expected to be completed in 12-15 months, its president for finance Ajay Agarwal said.
India's industrial production shrunk for the third straight month in December, dragged down by weak investment and consumer demand and pointing to continued sluggishness in Asia's third-largest economy.
Against a widening 142 MT demand-supply gap and a huge over 12,000 MW power capacity addition plans, warring ministries, specially Coal and MoEF, remaining at loggerheads throughout the year over contentious issue of 'go' and 'no go' mining zones gave much fodder to media.
India's industrial production rose 4.9 per cent year-on-year in April, the first month of the current financial year, the official Central Statistical Organisation said on Thursday.
The industrial production grew by two per cent in September, mainly on account of better performance by power and mining sectors.
Industrial production grows at 2.1 per cent in March.
Odisha's Health Minister Naba Kishore Das, a confidant of the chief minister, was shot and grievously injured when he got out of his car on Sunday, allegedly by a police officer who was captured, officials said.
It's a middle path for labour reforms.
The current coal stock stands at 13.5 million tonnes at pithead power stations and 20.7 MT cumulatively at all power plants across the country.
While rising interest rates and tighter liquidity are giving negative signals for the financial sector, increasing economic activity could mean higher business volumes for lenders. Liquidity in the banking system has moved from Rs 8 trillion surplus into a deficit of Rs 33,000 crore over the 2022 calendar year. By the end of November, bank credit had grown 17.5 per cent YoY (year-on-year).
'Those who want stability in life have started looking at opportunities outside of the start-up ecosystem.'
The internals of the food inflation are worrying, given a broad-based uptick across categories that tend to be sticky, such as proteins, and a narrower-than-expected reduction in inflation for vegetables.
The absence of any recovery in investment is underlined by the capital goods sector.
RE of GDP for 2015-16 show that the economy grew 7.9% in 2015-16, rather than the earlier estimate of 7.6 per cent.
India's economic growth slowed down to 4.4 per cent in the third quarter of 2022-23 mainly due to poor performance of the manufacturing sector. In October-December 2021, the economy grew by 11.2 per cent and by 6.3 per cent in the July-September 2022 quarter, according to data released by the National Statistical Office (NSO) on Tuesday.
Brokerages expect India Inc to report an upturn in earnings for the March quarter of 2022-23, after a relatively muted showing in the previous two quarters. This growth is expected to be led by banking, financial services and insurance (BFSI) companies, FMCG firms, and automobile makers. The combined net profit of the Nifty50 companies (excluding Adani Enterprises) is expected to have grown 15.6 per cent to Rs 1.77 trillion in Q4FY23, from Rs 1.53 trillion a year ago.
Santosh Kamath, partner (infrastructure and government services), KPMG in India, expects an extension of a tax holiday for the sector.
India's industrial production rose by 7.1 per cent in November 2022 after contracting in October, according to official data released on Thursday. The Index of Industrial Production (IIP) grew by 1 per cent in November 2021.
Bezzecchi came out with flying colours registering the best time to grab his third pole of the season.
A joint forum of central trade unions has given a call for a nationwide strike on March 28 and 29 to protest against the government policies affecting workers, farmers, and people.
'We are the same people who can quench a man's thirst and also kill him.'
'When I was toying with 10 different ideas, my father was diagnosed with lung fibrosis and his condition deteriorated so badly that we lost him in six months. He was very unsatisfied with the lack of proper diagnosis.' 'It made me think will anyone do a biopsy if there is no symptom? Why is it that we do not have any non-invasive diagnostic method?' 'This idea was the strongest out of the ten, and with Snahlata Singh with her cancer biology background joining me, the idea got a real boost.'
The early bird results for the January-March quarter of 2022-23 (Q4FY23) show a pick-up in earnings growth, despite a slowdown in revenue growth, thanks to a decline in input costs and lower provisioning for bad loans by banks. The combined net profit of 66 companies that have, so far, declared their quarterly results was up 15.2 per cent year-on-year (YoY) in Q4FY23, an improvement from 4.3 per cent YoY growth in Q3. Net sales growth of these companies, however, slowed down to 11.5 per cent YoY in January-March 2023, the slowest rate in eight quarters.
According to the Central Statistics Office data, the jump in the retail inflation based on Consumer Price Index was mainly due to rise in prices of kitchen items like vegetables, meat and fish.
About 53 million homes in the country are yet to get electricity and many industries depend on diesel generation sets to meet their requirements.
The labour ministry has made public a list of 60 officers -- essentially labour commissioners in 20 regions across the country -- along with their e-mail address and contact numbers. They will deal with distress calls from workers who are working under the 'central sphere'.
The Prime Minister will formally launch the Rashtriya Kaushal Vikas Yojana and the National Skills Mission on July 15
India's industrial production rose 1.9 per cent in March 2022, according to official data released on Thursday. As per the Index of Industrial Production (IIP) data released by the National Statistical Office (NSO), the manufacturing sector's output grew 0.9 per cent in March 2022. Mining output climbed 4 per cent, and power generation increased 6.1 per cent.
In a bid to strengthen their bilateral economic ties, India and Indonesia plan to explore opportunities for co-operation in oil and gas, and railway sectors, among other areas.
Hindalco's first quarter (Q1FY23) results indicate healthy domestic volumes for aluminium and copper, and lower cost of production. Subsidiary Novelis saw weak volume trends but it managed to push operating profit margins on a better mix and pricing hikes. The weak global outlook on aluminium is a cause for ongoing concern.
India's industrial production grew by 1 per cent in December, official data showed on Friday. According to the Index of Industrial Production (IIP) data, the manufacturing sector output grew by 1.6 per cent in December 2020.
India's factory output climbed 22.4 per cent in March, benefiting from the base effect of the lockdown-marred month a year back as well as a turnaround in the manufacturing sector, while retail inflation slipped to a three-month low of 4.29 per cent in April. The high positive annual growth in the index of industrial production (IIP) in March 2021 came on back of a contraction of (-)0.9 per cent and (-)3.4 per cent in January and February 2021 respectively, according to the data released by the National Statistical Office (NSO) on Wednesday. This turnaround was led by recovery in the mining, manufacturing and electricity sectors.
As many as six merchant bankers are vying to handle and manage the sale of the government's 29.53 per cent residual stake in Hindustan Zinc Ltd (HZL), according to an official notice. ICICI Securities, SBI Capital Markets, HDFC Bank, IIFL Securities, Axis Capital and Citigroup Global Markets will make their presentations via video conferencing before the government officials on Friday, highlighting their plans in managing the offer for sale. The bankers to manage the sale process would be finalised after the presentation and opening of financial bids on August 12, as per the notice.
Capital goods, a barometer of investments, showed a sharp increase in output by 14.6 per cent in January, 2018 as against a decline of 0.6 per cent year ago.
Vedanta chairman Anil Agarwal on Saturday pressed for further liberalisation of the defence sector and called for corporatisation of defence factories to make the country self reliant in respect of arms and ammunition. There are 52 defence factories for manufacturing arms and ammunition in the country but most of them are running at 10 per cent capacity, he said. "We (India) can be the largest producer of arms and ammunition. "If the defence factories are corporatised it will bring in a new way of thinking," Agarwal said while addressing the inauguration of a post graduate programme for executives virtually from London.
Prabhu-led advisory group also suggests JVs with mining and infra firms.
