After a gap of nearly two years, India’s industrial production turned negative as it contracted by 0.1 per cent in August, mainly due to a decline in the mining and power generation sectors’ output, in addition to an almost flat expansion in the manufacturing sector. According to the data released by the National Statistical Office (NSO), factory output growth based on the Index of Industrial Production (IIP) has also been revised downwards for July to 4.7 per cent from the earlier estimate of 4.8 per cent. “The IIP growth rate for the month of August 2024 is (-) 0.1 per cent, which was 4.7 per cent in the month of July 2024,” NSO said in a release.
Posts tagged Rediff
Forex kitty drops by $3.7 bn to $701.18 bn (11-10-2024)
India’s forex reserves dropped by $3.71 billion to $701.18 billion for the week ended October 4, the RBI said on Friday. In the previous reporting week, the reserves had jumped by $12.59 billion to an all-time high of $704.88 billion.
Who’s Who In Tata Trusts (11-10-2024)
The Tata Trusts, led by the Sir Ratan Tata Trust and the Sir Dorabji Tata Trust, hold a 66 per cent stake in Tata Sons, the Tata group’s holding company.
Sensex falls 230 points as investors turned cautious (11-10-2024)
From the Sensex pack, Tata Consultancy Services, Mahindra and Mahindra, ICICI Bank, Maruti Suzuki India, Power Grid, Axis Bank and Adani Ports and Special Economic Zones were among the laggards. On the other hand, HCL Technologies, Tech Mahindra, JSW Steel, Hindustan Unilever, Infosys and Titan were among the gainers.
Tata leaves behind an unfulfilled dream: A Nano EV (11-10-2024)
From Tetley Tea to Jaguar Land Rover and Air India, Ratan Tata has ticked off almost every item on his bucket list. However, one that remains unfinished is the electric version of his small car, the Tata Nano. A concept entrusted to Coimbatore-based Jayem Automotives (Jayem Auto) is still on the shelves, despite nearly 400 cars being launched, primarily due to Covid-19 and new crash norms.
Noel Tata to succeed Ratan Tata as Tata Trusts’ chief (11-10-2024)
Noel Tata — the half-brother of late Rata Tata — who takes over as chairman of Tata Trusts, has been with the Tata Group for over four decades, slowly rising through the ranks in the salt-to-software conglomerate. Having functioned mostly under the shadows of his illustrious half-brother, Noel (67) will now have the responsibility of leading the Tata Trusts — broadly comprising Sir Ratan Tata Trust and Allied Trusts, and Sir Dorabji Tata Trust and Allied Trusts — that hold a controlling 66 per cent stake in Tata Sons, the holding and promoter firm of Tata Group companies.
The aviator: How Ratan Tata finally made his group fly (11-10-2024)
In a December 2012 interview, Ratan Tata, then preparing to step down as chairman of Tata Sons, expressed doubts about the Tata group re-entering the aviation sector, calling it a space plagued by “destructive competition”. But beneath that frustration lay nearly two decades of failed attempts to conquer the Indian skies. In 1994, Tata, along with Singapore Airlines, had plans to launch a joint venture (JV) airline in India.
RBI’s inflation caution may halt FMCG rally (11-10-2024)
The Reserve Bank of India’s (RBI’s) caution on inflation, highlighted during the recent monetary policy meeting, may put investors’ faith in fast moving consumer goods (FMCG) stocks to test, analysts said. They, however, believe FMCG stocks may ride through this near-term investor anxiety as related companies are, typically, well-equipped to handle inflation due to their pricing power and steady demand for essential goods.
IT firms may remain on recovery path in Q2 (11-10-2024)
Management commentary on demand environment, and forward guidance will be in focus when Indian IT services players declare their September quarter results for financial year 2024-25 (Q2FY25). The industry is exepected to have continued on the path of recovery in Q2, similar to the preceding quarter, rather than sprint towards growth. The top four firms likely grew between 0 per cent and 4 per cent year-on-year (Y-o-Y), according to consensus estimates.
Is This The CNG Car You’ve Been Waiting For? (11-10-2024)
The iCNG version of the Tata Nexon is quick, safe, eco-friendly, and it is affordable too, notes Rajesh Karkera/Rediff.com.