Posts tagged Rediff
India’s forex reserves decline $1.71 bn to $651.99 bn (06-07-2024)
India's forex reserves dropped $1.71 billion to $651.99 billion for the week ended June 28, the Reserve Bank of India (RBI) said on Friday. In the previous reporting week, the overall kitty had dropped $2.92 billion to $652.89 billion. The reserves had touched an all-time high of $655.82 billion as on June 7 this year.
Sitharaman to present Modi 3.0’s 1st budget on July 23 (06-07-2024)
This will be the first budget presented by the government led by Prime Minister Narendra Modi in its third term amid high anticipation following President Droupadi Murmu's assertion that it will be marked by many historic steps.
‘High real repo rate can have adverse effects on…’ (06-07-2024)
'The real repo rate is very high in terms of core inflation.'
Why analysts are bullish about Godrej Properties (06-07-2024)
Godrej Properties (GPL) reported strong pre-sales of Rs 22,500 crore in FY24, up 84 per cent year-on-year (Y-o-Y). The performance was led by new launches, which increased 65 per cent to Rs 23,000 crore in FY24, and contributed 70 per cent to total pre-sales. The sales volume increased 31 per cent Y-o-Y to 20 million square feet (msf), while realisation rose 40 per cent Y-o-Y, driven by contribution from high-realisation markets of National Capital Region (NCR) Delhi and Metropolitan Mumbai Region (MMR) and positioning in the premium segment.
Nifty may sport new look after Sebi’s F and O tweak (06-07-2024)
The Nifty 50 index is poised for a revamp as the revised futures and options (F and O) stock selection criteria is seen paving the way for newly listed companies to join the benchmark index, which is tracked by passive funds with combined assets under management of more than ~3.5 trillion ($44 billion). For the first time in six years, the market regulator Securities and Exchange Board of India (Sebi) has tweaked the stock selection process for the derivatives segment that clocks a turnover of ~400 trillion daily.
Can Modi make India a high-income nation by 2047? (05-07-2024)
Prime Minister Narendra Modi's goal of making India a high-income economy by 2047 is unlikely to be achieved, but the country should become an upper middle-income nation by then, Financial Times chief economics commentator Martin Wolf said on Friday. Wolf further said that India would also become a superpower by 2047. "India wishes to become a high-income country by 2047.
High onion, tomato prices make veg thalis costlier (05-07-2024)
The average cost of a vegetarian thali became dearer by 10 per cent in June due to the jump in onion, potato, and tomato prices, a report said on Friday. However, a decline in the broiler price contributed to a decrease in the cost of a non-vegetarian meal, as per Crisil Market Intelligence and Analysis' monthly "Roti Rice Rate" report. The cost of veg thali, which comprises roti, vegetables (onions, tomatoes and potatoes), rice, dal, curd and salad, increased 10 per cent to Rs 29.4 per plate in June from Rs 26.7 in the year-ago period, and was higher when compared to Rs 27.8 in May 2024, it said.
PV sales in June skid 7% on heatwave woes (05-07-2024)
Passenger vehicle retail sales in India witnessed a 7 per cent on-year decline in June as severe heatwave conditions resulted in 15 per cent less showroom walk-ins, industry body FADA said on Friday. Overall passenger vehicle registrations stood at 2,81,566 units last month, as compared to 3,02,000 units in June 2023. "Despite improved product availability and substantial discounts aimed at stimulating demand, market sentiment remains subdued due to extreme heat resulting in 15 per cent less walk-ins and delayed monsoons," the Federation of Automobile Dealers Associations (FADA) president Manish Raj Singhania said in a statement.
Sensex slips below 80K; Nifty scales new high (05-07-2024)
Among the 30-share Sensex pack, State Bank of India, Reliance Industries, Hindustan Unilever, NTPC, Larsen and Toubro, Nestle India, Power Grid, ITC, JSW Steel and Sun Pharmaceuticals were the major gainers. On the other hand, HDFC Bank, Titan, Mahindra and Mahindra, IndusInd Bank, UltraTech Cement, Tata Motors, HCL Technologies and Asian Paints were among the laggards.
Tata Hitachi reaps rich harvest, from field to factory (05-07-2024)
It was the summer of 2006 (May 18). Writers' Building, then the state secretariat, was buzzing with journalists. The event marked the start of Buddhadeb Bhattacharjee's second term as chief minister. And in style, it got off with West Bengal bagging the small car plant, Nano.