Posts tagged Rediff
Airlines cancel flights due to Mumbai’s congestion (14-02-2024)
Indian carriers are cancelling hundreds of flights till March 30 following the directive issued by the Airports Authority of India (AAI) to the Mumbai airport to ease runway congestion. Akasa Air on Tuesday announced it was cancelling 90 Mumbai flights till the end of next month. SpiceJet told Business Standard that it has complied with the government's directive, but did not specify the number of flights it was cancelling.
Sensex gains 268 points on fag-end buying (14-02-2024)
State Bank of India was the biggest gainer in the Sensex pack, rising 4.24 per cent, followed by Tata Steel, Axis Bank, Maruti, NTPC, PowerGrid, ITC and Nestle India. Reliance jumped 1.15 per cent to end at Rs 2,962.60 apiece on BSE.
Jan sees double-digit growth in PV sales (14-02-2024)
Domestic passenger vehicle wholesales rose 14 per cent year-on-year to 393,074 units last month, the best-ever figure for January, amid robust demand for utility vehicles, industry body SIAM said on Wednesday. As per the latest data issued by the Society of Indian Automobile Manufacturers (SIAM), dispatches of passenger vehicle from manufacturers to dealers stood at 346,080 units in January 2023.
Wholesale inflation eases to 0.27% in January (14-02-2024)
The wholesale price index (WPI)-based inflation eased in January to 0.27 per cent, mainly due to moderation in prices of food items. WPI inflation was at 0.73 per cent in December 2023. The WPI inflation was in the negative zone from April to October and had turned positive in November at 0.39 per cent.
Decline in volume, revenue growth drags FMCG players (14-02-2024)
The slowdown in private consumption in the economy is taking a toll on the growth of fast-moving consumer goods (FMCG). The net sales growth of listed FMCG companies hit a 14-quarter low of 2.5 per cent in October-December 2023 (Q3FY24). This is the lowest revenue growth for the industry since the June 2020 quarter, when the FMCG firms in the Business Standard sample had reported a 13.2 per cent Y-o-Y decline in combined net sales owing to the lockdown.
Rs 15 Trillion In Taxes Comes Via… (14-02-2024)
96 per cent is being collected through TDS, advance tax, self-assessment tax, and other receipts.
Why Morgan Stanley thinks OMC stocks can flare up (14-02-2024)
Stocks of Hindustan Petroleum Corporation Limited (HPCL), Bharat Petroleum Corporation Limited (BPCL) and Indian Oil Corporation Limited (IOCL) have more headroom left despite the sharp run in the last few weeks, suggests a recent report from Morgan Stanley. Stocks of these oil refining and marketing companies (OMCs), it believes, are seeing multiples re-rate as investors reassess long-term growth prospects. "IOCL trades at one year forward P/BV of 1.2x, 19 per cent below +1 standard deviation (SD); BPCL trades at one year forward P/BV of 1.5x, near historical averages; HPCL trades at one year forward P/BV of 1.5x, near +1SD," Morgan Stanley said.
‘Pvt capex will depend on demand and supply situation’ (14-02-2024)
'The private sector will look to the budget to check whether there are any headwinds or tailwinds.'
Banks, FinTech Need IT Experts Urgently! (14-02-2024)
Senior bankers point out that while they will eventually attract qualified professionals, onboarding them takes time.
Women’s unemployment rate at 16-month low (14-02-2024)
The unemployment rate for women was last this low around Diwali in 2022. The unemployment rate has dropped for women from 14.9 per cent in December 2023 to 11 per cent in January 2024, according to data from the Centre for Monitoring Indian Economy (CMIE). It was higher in January 2023 at 13.5 per cent.