Aided by robust demand, automobile retail sales in India rose by 11 per cent last year as compared to 2022, dealers’ body FADA said on Monday. The overall domestic automobile retail sales stood at 2,38,67,990 units in the 2023 calendar year as compared to 2,14,92,324 units in 2022. Passenger vehicle sales stood at 38,60,268 units last year, up 11 per cent from 34,89,953 units in 2022.
Posts tagged Rediff
Maruti Makes More Money Per Car… (08-01-2024)
Maruti recorded a 13.12% year-on-year surge in average revenue earned per car in 2023 compared to M and M’s 7.56%, Hyundai’s 6.76% and Tata Motors’ 1.88%.
India’s exports to Iran decline in last one year (08-01-2024)
India’s exports to Iran have been falling over the last one year, amid decline in rupee reserves of the West Asian economy. Going ahead, the possibility of augmenting exports to Iran may not be easy for India, considering the geopolitical tensions – Russia-Ukraine and Israel-Hamas conflicts – and the West Asian country’s support for Russia and Hamas, people aware of the matter said. Exports to Iran saw a downward spiral since November last year.
Offshore mining: Rules may be eased for small players (08-01-2024)
In a bid to attract smaller players to the country’s first offshore mineral mining auction, the government is considering easing the regulations related to performance security and upfront payment. The proposed plan involves a cap of Rs 100 crore each for performance security and upfront payment for a production lease (PL). A holder of a composite licence (CL) would only need to pay Rs 50 crore as performance security.
Sectors and stocks expected to shine in 2024 (08-01-2024)
Despite multiple headwinds at the start of 2023, the Indian markets delivered a strong performance, posting 19-20 per cent growth for the year. Even as new records were set, investor sentiment remains strong going into 2024, given the lower inflation, expectations of steady to lower interest rates, higher economic growth, and strong inflows. However, the overriding concern for most brokerages is valuations.
Zudio Is Indian Retail’s 2023 Blockbuster (08-01-2024)
Zudio was the standout performer as it tapped into the pentup demand in small-town India, at a pace never seen before, notes Indrajit Gupta, co-founder and director, Founding Fuel.
Tech IPO Boom With Easing Headwinds (08-01-2024)
‘The success of one or two IPOs does not dictate whether the upcoming IPOs will be successful or not, but it certainly indicates that the markets and investors are enthusiastic about startup IPOs.’
FPIs still on buying spree; infuse Rs 4,800 cr in mkts (07-01-2024)
Foreign Portfolio Investors (FPIs) continued their buying spree and poured close to Rs 4,800 crore in the Indian equity markets in the first week of January driven by confidence in the country’s robust economic fundamentals. Additionally, they injected Rs 4,000 crore in the debt market during the period under review, data with the depositories showed. With expectations of a prolonged decline in US interest rates in 2024, there is an anticipation that FPIs will likely escalate their purchase, particularly in the initial months of the New Year leading up to the general elections, V K Vijayakumar, chief investment strategist at Geojit Financial Services, said.
Factors that will guide the markets this week (07-01-2024)
Trading in stock markets this week will be majorly influenced by the upcoming quarterly earnings from IT majors TCS and Infosys, along with global trends, analysts said. Besides, global oil benchmark Brent crude, rupee-dollar trend and trading activity of foreign investors would also dictate the movement, they said. “On the domestic front, all eyes will be on the beginning of corporate performance for the third quarter of the current fiscal year.
All is not quite correct with GDP numbers for FY24 (07-01-2024)
Discrepancies in computation of advance estimates of the country’s Gross Domestic Product for 2023-24 stood at Rs 2.59 lakh crore as against (-) Rs 3.80 lakh crore in 2022-23 and (-) Rs 4.47 lakh crore in 2021-22, according to National Statistical Office (NSO). On Friday, the NSO released its first advance estimates of national accounts which showed that the Gross Domestic Product (GDP) or Indian economy will grow at 7.3 per cent in 2023-24, slightly higher than 7.2 per cent in 2022-23.