Posts tagged Rediff
Growth prospects for affordable housing finance sector (06-10-2023)
The affordable housing segment may be seeing an uptick which is a good sign of consumption momentum. This is the biggest-ticket purchase for middle income and lower income families. The current activity is at least partly driven by a pause in interest rate hikes.
Analysts bet on these 3 consumption pockets (06-10-2023)
The recent equity market weakness has sobered up investor mood, but the coming festive season is keeping analysts upbeat on stocks related to the consumption basket. Among the lot, fast-moving consumer goods (FMCG), retail, and consumer electronics segments are expected to do well over the next few months, and investors should thus selectively take bets in these pockets, analysts suggest. "We expect good volume growth for the FMCG sector during the festive season with some improvement in rural demand.
TVS, Bajaj Close the Gap With Startups in EV Segment (06-10-2023)
Bajaj Auto has virtually closed the gap with Ather Energy in September, notching up 6423 EV registrations compared to 6466 registrations by Ather.
RBI retains inflation forecast for FY24 at 5.4% (06-10-2023)
The Reserve Bank on Friday retained the inflation forecast for 2023-24 at 5.4 per cent, and vowed to take timely measures to prevent any spillovers of global food and fuel price shocks. Stressing that the Reserve Bank has identified high inflation as a major risk to macroeconomic stability and sustainable growth, Governor Shaktikanta Das said the September retail inflation number may be lower than August and July prints. The headline inflation based on Consumer Price Index (CPI) moderated to 4.6 per cent in first quarter of 2023-24 as compared to 7.3 per cent in the same period a year ago.
RBI retains economic growth forecast at 6.5% (06-10-2023)
The Reserve Bank on Friday said India is poised to become the growth engine of the world as it retained the GDP projection for the current fiscal at 6.5 per cent. Unveiling the bi-monthly monetary policy review, Reserve Bank of India (RBI) Governor Shaktikanta Das said the domestic economy exhibits resilience on the back of strong demand.
RBI keeps repo rate unchanged at 6.5% (06-10-2023)
The Reserve Bank of India on Friday decided to keep the policy rate unchanged for fourth time in a row as it maintains a tight vigil on inflation. The rate increase cycle was paused in April after six consecutive rate hikes aggregating to 250 basis points since May 2022. Announcing the bi-monthly monetary policy on Friday, RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) unanimously decided to keep the repo rate unchanged at 6.5 per cent.
Tribunal sets aside Sebi penalty on Cairn India (05-10-2023)
The Securities Appellate Tribunal (SAT) has set aside capital markets regulator Sebi's order that imposed a penalty of Rs 5.25 crore on Cairn India for making a misleading announcement regarding buyback of shares in 2014. Cairn India, which was merged with Vedanta Ltd in 2017, was accused of making a misleading public announcement designed to influence investors' decisions. "We hold that the violations of provisions of... the Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) Regulations and... the Buyback Regulations are not proved against the company (Vedanta)," a bench consisting of Justice Tarun Agarwala and presiding officer Meera Swarup said.
Sebi’s order against Prannoy, Radhika Roy dismissed (05-10-2023)
The Securities Appellate Tribunal (SAT) on Thursday quashed a Sebi order that barred NDTV founders Prannoy Roy and Radhika Roy from the securities market for two years in an insider trading case. However, the appellate tribunal partly set aside an order against Vikramaditya Chandra, the group's chief executive officer during the relevant period, and remitted the matter back to Sebi to decide the issue. It further said that trades executed by Chandra during PSI-3 (price-sensitive information) are required to be reconsidered, according to the order passed by SAT.
Reliance Retail aims at 2025 IPO after valuation jump (05-10-2023)
Reliance Retail Ventures Ltd (RRVL) is discussing a three-pronged plan that includes an additional divestment of $250-300 million this year, apart from what it has diluted in favour of the Qatar Investment Authority (QIA) and US-based private equity fund KKR recently.
Pilot exodus: Akasa stops flights on 8 routes (05-10-2023)
Akasa Air has reduced its service on 10 routes and stopped operating flights on eight others since the exodus of pilots began in early July. The airline's flights per week reduced from 945 in June to 754 in October, according to aviation analytics firm Cirium's data, which has been reviewed by Business Standard. The airline currently operates flights on 34 routes. Between June and October, Akasa Air ceased operations on the following: Ahmedabad-Kochi, Ahmedabad-Hyderabad, Ahmedabad-Pune, Bengaluru-Hyderabad, Bengaluru-Chennai, Kochi-Hyderabad, Goa-Lucknow, and Goa-Hyderabad.