For the first time in 13 years, since Jet Airways’ A330 planes exited the airline’s fleet in around 2010, an Indian wide-body aircraft will have a Rolls-Royce-powered engine, with Air India ordering 40 Airbus A350 planes. On Tuesday, Air India announced its mega aircraft order for 470 aircraft, including A350 planes. The A350 aircraft, which will come in two variants, are powered solely by Rolls-Royce Trent XWB engines and the local team has begun work to assist Air India with its aircraft-induction plans.
Posts tagged Rediff
Maruti eyes top slot in SUV space by FY24 (16-02-2023)
Maruti Suzuki India (MSIL) – the market leader in small cars – is eyeing the top spot in the sports utility vehicle (SUV) segment within a year – with a 33 per cent share of the pie. The company has been selling two SUVs – the Brezza and the Grand Vitara – and will start deliveries of the Jimny and the Fronx from March-end, and has set a target of growing its share from the current 11.5 per cent of the SUV market to 33 per cent by the end of 2023-24. The SUV segment is roughly about 42 per cent of the total passenger vehicle market, or around 1.3 million units.
‘Budget has not touched upon unemployment at all’ (16-02-2023)
‘One of the biggest employment generators, the MSMEs, have not got much from the government.’
Adani says will complete infra projects on time (16-02-2023)
Adani Enterprises, the flagship of Adani Group, said on Wednesday new businesses of renewables, data centres, airports and roads account for more than 33 per cent of earnings and it will complete all infrastructure projects on time. “We are laser focused on continuing our business momentum, in this market volatility. “We are confident in our internal controls, compliance and corporate governance.
Moody’s retains stable outlook for TCS, Infosys (15-02-2023)
Moody’s Investors Service on Wednesday affirmed the ratings of two major Indian IT services companies, Tata Consultancy Services Limited (TCS) and Infosys. In two separate statements, Moody’s also retained stable outlook for both the companies. Moody’s expects Infosys’ revenues to climb by around 13 per cent for the financial year ending March 31, 2023, but moderate to around 8 per cent in the next 2024 fiscal.
Sensex rises 243 points; Nifty ends above 18K (15-02-2023)
Benchmark Sensex pared early losses to close 242 points higher while Nifty settled above the 18,000-mark on Wednesday following gains in IT, oil and select banking stocks amid mixed global trends. Extending gains for a second day, the 30-share BSE Sensex advanced 242.83 points or 0.40 per cent to close at 61,275.09 with 20 of its constituents ending in the green. The index opened lower at 60,990.05 but later regained foot to touch a high of 61,352.55 in day trade.
Sensex rises 243 points; Nifty ends above 18K (15-02-2023)
Benchmark Sensex pared early losses to close 242 points higher while Nifty settled above the 18,000-mark on Wednesday following gains in IT, oil and select banking stocks amid mixed global trends. Extending gains for a second day, the 30-share BSE Sensex advanced 242.83 points or 0.40 per cent to close at 61,275.09 with 20 of its constituents ending in the green. The index opened lower at 60,990.05 but later regained foot to touch a high of 61,352.55 in day trade.
Adani Group touts ‘very healthy’ balance sheet (15-02-2023)
Billionaire Gautam Adani’s embattled conglomerate said its balance sheet is “very healthy” and is laser focused on continuing business momentum, as it looked to reassure investors to keep faith in the conglomerate despite a share rout triggered by a damning report by a US short-seller. Group CFO Jugeshinder (Robbie) Singh in an earnings call said the group is confident of its internal controls, compliance and corporate governance. Separately, it released a compendium of group companies to highlight that it has adequate cash reserves and has ability to refinance debt.
Air India-Boeing deal to create 1 mn jobs in US: Biden (15-02-2023)
The landmark Air India-Boeing deal will create up to 1 million jobs across 44 states in the US and will further deepen bilateral ties, President Joe Biden has told Prime Minister Narendra Modi. Boeing and Air India announced a mega deal on Tuesday under which the Tata Group-owned airline will purchase 190 B737 MAX, 20 B787, and 10 B777X for a total of 220 firm orders valued at $34 billion at list price. The deal will also include customer options for an additional 50 Boeing 737 MAX and 20 Boeing 787, totalling 290 airplanes for a total of $45.9 billion at the list price.
Exports dip by 6.58%; trade deficit lowest in 12 mths (15-02-2023)
India’s exports in January dipped by 6.58 per cent to $32.91 billion, as against $35.23 billion in the same month last year, according to the data released by the commerce ministry on Wednesday. Trade deficit in January stood at $17.75 billion.