Tier-II and tier-III towns have a reason to rejoice.
Auto majors, including Maruti Suzuki India, Hyundai and Tata Motors, on Sunday reported high double-digit growth in their domestic passenger vehicle sales in July riding on stabilisation of macro-economic factors and better consumer sentiments. Similarly, Honda, Nissan, MG Motor and Skoda also reported healthy growth in their sales last month leveraging on improved market mood amid prevailing lower coronavirus infection rate, despite supply constraints of semi-conductors. The country's largest carmaker Maruti Suzuki India's (MSI) domestic sales increased by 39 per cent to 1,41,238 units last month as against 1,01,307 units in July 2020, the company said in a statement.
Exports of cut and polished diamonds during April-May witnessed a 77.42 per cent decline, gold jewellery exports declined 92 per cent and shipments of coloured gemstones also dipped 92.90 per cent.
A 14-member council of ministers, headed by Bihar Chief Minister Nitish Kumar, was on Monday sworn in by Governor Phagu Chauhan.
The statements come from a booklet published this month by the state-run People's Publishing House, in which senior officials, including President Xi, outlined the latest five-year plan for the country's development.
In the run-up to the retirement, senior non-executive directors are expected to take up supervisory role in a two-tiered board system consisting of an executive board and a supervisory board.
Panagariya also pointed out that COVID-19 pandemic may lead to integration of global labour market.
As per SIAM data, the total sales of vehicles across categories registered a decline of 5.45 per cent at 14,51,278 units in February 2013 as against 15,34,910 units in the same month of 2012.
Lenders can now initiate recovery proceedings since the SC has lifted the standstill on asset classification, which protected stressed accounts from slipping into NPAs.
Production of coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity contracted. The record contraction in the growth rate of eight core sectors will affect the Index of Industrial Production.
'One can start accumulating economy driven stocks in the next few months with a two-three year view.'
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
The auto industry expects lower taxes and interest rates from Budget 2015.
The hospitality and tourism sector is among the worst hit because of the pandemic, and is unlikely to recover any time soon as people continue to be cautious of going out in a crowded places.
While sales momentum from rural areas may last another three to six months, sales growth in urban areas could stage a comeback by next year's June quarter as people learn to live with the coronavirus and economic activity gradually improves in the cities.
Real estate experts say rentals have corrected by 5-10 per cent across formats, including office, retail and housing, with a pick-up expected over the next few quarters as the economy recovers.
According to several industry sources in the know, expenses towards deploying contractual staffer, which used to account 10 per cent of the overall billable employee cost at IT firms, has fallen to around 3 per cent. IT firms typically use the contractual workers from staffing solutions providers or subcontractors.
The total household wealth in India during this period rose 1.7 per cent to $246 billion.
Influential Patel community leader Parshottam Rupala, minister in the first Narendra Modi government Mansukh Mandaviya and three-time MP Darshana Jardosh, all from Gujarat, were among those inducted in the Union cabinet on Wednesday.
The key demand drivers -- such as low home loan rates and income tax sops, particularly for affordable housing -- that supported the recovery in H2 FY2021, remain in place and will spur recovery again, feel experts.
India's Vice President Hamid Ansari on Saturday urged the youth to join the economic reconstruction in strife-torn Kashmir.
Besides, Toyota and MG Motor also reported nil sales as they suspended operations even before the imposition of lockdown on March 25 to check the spread of coronavirus. In two-wheeler segment, niche bike maker Royal Enfield said it had zero sales in the domestic market but exported a total of 91 units last month.
The country's largest carmaker Maruti Suzuki India (MSI) on Monday reported a 11.8 per cent increase in wholesales to 164,469 units in February. The company had sold 147,110 units in February last year, Maruti Suzuki India (MSI) said in a statement. Domestic sales increased 11.8 per cent to 1,52,983 units last month, as against 1,36,849 units in February 2020, it added.
Vice President M Hamid Ansari and Prime Minister Manmohan Singh on Sunday condoled the death of Verghese Kurien, the founder of Gujarat Cooperative Milk Marketing Federation.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
On Tuesday, UK-based Standard Chartered's outsourcing of key banking jobs to India came under the lens of US authorities.
Positive cues from China - which accounts for 56.5 per cent of global crude steel production - are likely to keep demand-supply in balance and provide support to prices. All eyes have been on China, which opened after New Year holidays, as it was widely expected that prices would recover post-holidays after the weakness in January. Jayanta Roy, senior vice president, ICRA pointed out, barring last year when Covid-related restrictions affected China's steel demand in February 2020, historical trends show a typical upward movement in steel prices post-new year festivities. China's opening post-holidays was keenly awaited, especially in the wake of the sluggishness in the market in January.
The move will help industries in pushing authorities for exemption under various labour laws at a micro-level, along with demanding changes to bring greater flexibility in their operations related to retrenchment, safety standards, and collective bargaining.
In a major relief to thousands of Indian IT professionals, a federal judge in the US on Thursday blocked the enforcement of a temporary visa ban by the Trump administration on a large number of work permits, including the most sought after H-1B visas, ruling that the president exceeded his constitutional authority.
Cars and two-wheelers attract 28% GST and a cess in the range of 3-22%, taking the effective tax rate to up to 50%.
Most of the large Indian IT services players, such as TCS, Infosys, Wipro, and HCL Tech, have signalled increased offshoring efforts and opting for local hires in the US, primarily to address the immigration-related challenges.
Initiated move to privatise Air India, but reports on poverty and cast census remained unfinished
Indirect emissions account for a major chunk of emissions by Indian IT firms. Business travel and commutation, together, are a key reason for it. If travel and daily commuting go down, so does carbon emissions.
Spiraling steel prices led the government to cut customs duty by 2.5-5.5 per cent on a range of products from semi-finished to flat and long products for the benefit of MSMEs, that have been at the receiving end.
An influential immigration advocacy group representing Indian-Americans on Thursday urged the Biden administration not to issue the most sought-after H-1B work visa to any individual born in India, till the time the discriminatory country-cap on green cards or permanent legal residency is removed. The current per-country cap on issuing of green cards in the US has resulted in Indian professionals, mostly from the IT sector, having to wait for decades for their legal permanent residency. Issuing new H-1B visas to more Indians would add to this agonising painful wait for green cards, Immigration Voice said in a statement.
The Yamuna river gets polluted due to bathing by floating population, throwing flowers, garlands and other worship material as well as the industrial affluent.
The wholesale price-based inflation accelerated to a record high of 12.94 per cent in May, on rising prices of crude oil and manufactured goods. Low base effect also contributed to the spike in WPI inflation in May 2021. In May 2020, WPI inflation was at (-) 3.37 per cent. This is the fifth straight month of uptick seen in the wholesale price index (WPI)-based inflation. In April, 2021, WPI inflation hit double digit at 10.49 per cent. "The annual rate of inflation, based on monthly WPI, was 12.94 per cent for the month of May, 2021 (over May, 2020) as compared to (-) 3.37 per cent in May 2020.
Online grocery platform BigBasket is looking at hiring 10,000 people for its warehouses and last-mile delivery to clear pending orders quickly and meet the spike in orders on account of the nationwide lockdown. "We are looking to hire 10,000 people for our warehouses and last-mile delivery. This hiring will happen across all 26 cities that we are present in," bigbasket Vice President-Human Resources Tanuja Tewari told PTI.
95 per cent of advertising inventory has been sold on television and 18 on-air sponsors have been signed up so far, the highest for any season.
Smith's (28) ODI haul of 568 runs at 63.11 from 10 innings were enough to pip Finch (23) who scored 673 runs at 56.08 from 13 innings.
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