Passenger vehicle exports from India rose 15 per cent in FY23 with Maruti Suzuki India leading the segment with dispatches of over 2.5 lakh units, as per the latest data by industry body SIAM. The total passenger vehicle (PV) exports stood at 6,62,891 units in the 2022-23 fiscal as compared to 5,77,875 units in 2021-22. [...]
Equity benchmark indices Sensex and Nifty buckled under selling pressure after nine-session rally on Monday, as massive sell-off in IT, tech and telecom counters unnerved investors. Intense selling in Infosys, which fell over 9 per cent after lower-than-expected revenue guidance for FY24, and HDFC twins also pulled the benchmarks down. The 30-share BSE Sensex tanked [...]
With the real estate sector contributing around 10 per cent to the total cases in consumer commissions, the Department of Consumer Affairs will on Tuesday organise a round table conference in Mumbai to discuss ways to redress the grievances of property buyers. According to an official statement, the Department of Consumer Affairs is organising a [...]
The Indian road logistics industry is expected to clock a high single-digit growth this fiscal on an elevated base of the previous year, ICRA said on Monday. The credit ratings agency also expects the demand momentum to continue in FY24, aided by stable domestic consumption and investment demand, ICRA said. The Indian road logistics industry's revenue [...]
The Tamil Nadu government on Monday signed a memorandum of understanding with a well-known footwear maker for an investment of Rs 2,302 crore in the state. The MoU was signed with High Glory Footwear, a subsidiary of Taiwan-based Pou Chen Corporation, "the world's largest branded footwear manufacturer," in the presence of Chief Minister M K [...]
The wholesale price-based inflation eased to a 29-month low of 1.34 per cent in March on easing prices of manufactured products and fuel items, even though food articles turned costly. March is the 10th straight month when wholesale price index (WPI) based inflation has declined. The inflation was 3.85 per cent in February and 14.63 [...]
As many as 25 startups have evinced interest to sign memorandums of understandings with the Centres of Excellence that were inaugurated by Chief Minister M K Stalin, the Tamil Nadu government said on Sunday. The startups under the state government's 'Olir' (shine) initiative would be able to grow faster by utilising the state-of-the-art multi-sector Industry [...]
Equity benchmark indices tumbled in early trade on Monday after nine days of rally, dragged down by index major Infosys, which fell nearly 12 per cent after lower-than-expected revenue growth guidance for FY24. Weak trends in other IT counters also pulled the benchmark lower. The 30-share BSE Sensex tanked 677.86 points to 59,753.14 in early [...]
With most non-bankers reaching the maximum funding cap from banks, their projected 16 per cent loan growth may be impacted, leading to margin compression for the sector this fiscal, according to a report. Bank funding to NBFCs has grown rapidly to Rs 13.1 lakh crore in February 2023 from a low Rs 3.9 lakh crore [...]
India's new gas pricing regime will offer greater downside protection for earnings of gas companies such as Oil and Natural Gas Corp (ONGC) and Oil India Ltd, S&P Ratings said on Friday. The new norms will not affect the pricing for gas produced from difficult fields that companies like Reliance Industries Ltd operate. Under the [...]
