India’s manufacturing growth rises in November, maintains strong momentum
The PMI rose to 56.0, indicating a robust expansion and maintaining a positive trend for nearly two and a half years, with a reading above the 50-mark separating expansion from contraction. Key Points
India TodayService activity expansion slows down to a seven-month low in October; future outlook dented
In October, India's services sector growth decelerated to a seven-month low due to intense competition, subdued demand, and rising price pressures. The S&P Global India Services PMI Business Activity Index dropped to 58.4, reflecting a loss of business confidence Key Points
Economic TimesIndia dismisses reports that it opposes BRICS expansion
With the upcoming BRICS summit in Johannesburg set to discuss admitting new members, India on Thursday dismissed as baseless reports that it is opposed to the expansion of the grouping. It is learnt that New Delhi is yet to take a final decision on Prime Minister Narendra Modi's in-person attendance in the summit of the five-nation grouping from August 22 to 24. Key Points
Economic TimesThose who make arrogant assumptions on consumer behaviour, fall on the sword of weak results: Nestle MD
Nestle India is considering expanding aggressively in the packaged food category, including sauces and ketchup and packaged ready-to-eat food, and is open to acquisitions that fit with the company's culture, capability, and expansion through synergies. The company already has a strong prepared dishes business and is investing in noodles, chocolates, and other categories. Nestle India's Chairman and MD, Suresh Narayanan, said the company is looking at both big brands with non-India presence and nascent categories. Key Points
Economic TimesSpeciality-chemicals maker Chemplast aims at ₹1,000-crore turnover from custom-manufactured business
Speciality-chemicals maker Chemplast Sanmar Ltd. is aiming at a threefold increase in revenue from custom-manufactured business to ₹1,000 crore over the next three to four years, post the completion of two-phase expansion programme at Berigai, MD Ramkumar Shankar said. Key Points
The Hindu
Pokémon TCG expansion 2023: Paradox Rift release date, key details
Pokémon TCG expansion Paradox Rift is expected to release in November this year. We have details for Pokémon 151 special. Key Points
Economic TimesAdani's Ambuja Cements places order for capacity expansion
The capacity expansion projects will enable production of Blended Green Cement of 14 million tonnes, post all requisite approvals. These projects are also expected to generate substantial value to the existing business and enable more employment and growth opportunities, beneficial for all stakeholders. Key Points
Economic TimesRetailers hit pause as small towns slow down
Sales of lifestyle, apparel and discretionary products moderated for the second consecutive month to 6% in April due to a high base a year ago. While retail sales grew in strong double digits consistently over the past year, the growth slowed down to 6% in both March and April, according to the Retailers Association of India (RAI), indicating slowest sales expansion in more than 14 months. Key Points
Economic TimesYogi cabinet expansion likely to take another month — what’s holding it up
Cabinet expansion in UP likely to take place after 'pran pratishtha' of Ram Lalla’s idol at Ram mandir in Ayodhya on 22 January. There are 7 vacancies in council of ministers. Key Points
ThePrintQatar to build new LNG project
Amid increasing demand and a halt on growth projects in the US, Qatar intends to enhance its exports of liquefied natural gas. The nation, a major competitor to the US and Australia in LNG shipping, aims to construct a new project capable of producing 16 million tons annually by the end of this decade. This initiative will elevate Qatar's annual production capacity to 142 million tons by 2030, as announced by the country's Energy Minister, Saad Al-Kaabi, on Sunday. Key Points
Economic Times
Brics plus 6: Outcome of the Johannesburg summit
Six countries are set to join Brics—Argentina, Egypt, Ethiopia, Iran, Saudi Arabia and the UAE. While some have hailed the move as giving a new lease of life to a moribund group, others believe it could amplify weaknesses. Mint breaks down what happened in South Africa: Key Points
mintUttar Pradesh: Yogi 2.0 ministry likely to be expanded soon
This will be the first expansion of the Yogi government in its second term. The council of ministers has eight vacancies. Key Points
Hindustan TimesCharmadi Ghat, a key highway in Karnataka to be widened at Rs 343 Cr: MP
The Charmadi Ghat section of National Highway-73 will undergo a Rs 343.74 crore expansion to widen the route to two lanes. The 11-kilometer project aims to improve connectivity between Mangaluru, Mudigere, and Tumakuru, easing travel and enhancing goods transport. The upgrade is expected to benefit the local economy and improve connectivity between Karnataka's coastal districts and upghat areas. Key Points
Economic TimesRetailers go easy on expansion as slowing consumption bites
India's top retailers, including Reliance Retail, Titan Company, Avenue Supermarts, V-Mart Retail, and Shoppers Stop, have slowed down their store expansion this fiscal year. The slowdown is attributed to a focus on profitability and a saturated market with limited room for new outlets. Jefferies reported that Reliance Retail has reduced retail business capex and store additions have decreased. Key Points
Economic TimesKey infrastructure sectors’ growth up at 7.8% in Nov
The output of eight key infrastructure sectors increased by 7.8% in November 2023 against a 5.7% expansion in the year-ago period, according to the official dat Key Points
The Tribune India
Madhya Pradesh Cabinet expansion today. Here's who could be taking oath
The Cabinet expansion of the newly formed Madhya Pradesh government will take place at 3:30 pm today. Here's a look at who could be sworn in as minister. Key Points
India TodayM&M to roll out expansion plans to meet robust demand
We are ramping up capacity to 49,000 SUVs per month by March 2024. With the introduction of the Thar five-door and our subsequent plans on electric vehicles (EVs), we anticipate further expansion. We will share the fresh capacity addition plan by May 2024. Key Points
Economic TimesCD Projekt's Phantom Liberty gets 'very positive' rating on Steam
Phantom Liberty, the long-awaited expansion to Polish video game developer CD Projekt's (CDR.WA) flagship game "Cyberpunk 2077", received a "very positive" rating on the Steam platform that sells digital copies of games for PCs. Key Points
ReutersTo mollify disgruntled leaders, BJP top rung greenlights long-pending Shivraj cabinet expansion
Last cabinet expansion took place in July 2020 when 28 ministers, including a dozen Jyotiraditya Scindia loyalists, were inducted. Move comes at a time when polls are fast approaching. Key Points
ThePrint10 Inspirational Quotes by Andrew Carnegie on Wealth and Philanthropy
Andrew Carnegie was a Scottish-American industrialist and philanthropist. Carnegie led the expansion of the American steel industry in the late 19th century and became one of the richest Americans in history. Key Points
Times of India
Eris buys nine derma brands from Dr Reddy’s for Rs 275 crore
The transaction helps augment and expand the cosmetic dermatology business of Eris Lifesciences by way of expansion in the product offerings, it said. The transaction is likely to be completed before March 31, 2023. Key Points
FinancialexpressStar Cement’s Rs 2200cr capex expansion drive on fast track: CEO
Kolkata, Dec 8 (PTI) In a bid to capitalise on the anticipated growth in cement demand in East and Northeast India, Star Cement is fast-tracking its expansion plans in both greenfield and brownfield projects, so that the total capacity reaches 9.7 million tonnes per year by 2025-26, an official said on Friday. The largest player […] Key Points
ThePrintIndia fully supports the expansion of BRICS: PM Modi at open plenary session of the 15th BRICS Summit
Indian Prime Minister Narendra Modi expressed his support for the expansion of BRICS during the 15th BRICS Summit. He emphasized the importance of making BRICS a future-ready organization by enabling societies with technology. Modi also welcomed the special importance given to countries of the Global South under the chairmanship of South Africa. Key Points
Economic TimesIndia Services PMI Surges To 12-Year High In February
The seasonally adjusted S&P Global India Services PMI Business Activity Index rose to 59.4 in February from 57.2 in January. Key Points
BQ PrimeCD Projekt's third-quarter profit doubles after 'Phantom Liberty' release
Video games developer CD Projekt's (CDR.WA) third-quarter net profit doubled from a year earlier, it said on Tuesday, following strong demand for "Phantom Liberty", the long-awaited expansion to the company's flagship game "Cyberpunk 2077". Key Points
Reuters
India’s manufacturing sector activity falls to 8-month low in Oct on softer rise in new orders: PMI
The seasonally adjusted S&P Global India Manufacturing Purchasing Manager’s Index (PMI) slipped from 57.5 in September to 55.5 in October, the slowest rate of expansion since February. Manufacturing activities in India decelerated in October as new orders increased at the slowest pace in a year, triggering a softer rise in output and employment, a monthly survey said on Wednesday. Key Points
The Tribune IndiaRBI retains India's growth forecast at 6.5% amid global turbulence
The Reserve Bank of India (RBI) has stated that the Indian economy is performing well, despite global economic turbulence. The RBI has maintained its growth forecast at 6.5% and inflation projection at 5.4% for the fiscal year. The governor of the RBI, Shaktikanta Das, highlighted the resilience of domestic economic activity and cautioned against complacency. He also mentioned the importance of lessons learned from past economic crises. Key Points
Economic TimesAnalysts cut Ambuja targets on weak prospects, rich valuations
Near-term growth to remain low, said Morgan Stanley in a client note. However, the US Brokerage firm remains positive on the medium-term prospects and believes the profitability should improve with the group's synergies and expansion plans. Key Points
Economic TimesCrude oil rises as China factory activity expansion lifts demand hopes
Brent futures, which have risen nearly 6% this week, were up 15 cents, or 0.19%, at $79.42 a barrel at 0146 GMT. Key Points
FinancialexpressIndia's manufacturing PMI slips to lowest level in four months
India's manufacturing sector expanded at the slowest pace in four months in February amid rising borrowing costs & weakness in the sector, a private survey showed on Wednesday. However, the sector remained relatively strong amid buoyant domestic demand, despite higher inflationary pressures. It was well above the 50-mark separating expansion from contraction for a 20th straight month. Key Points
Economic Times
Alan Wake 2: Here’s everything we know about release date, gameplay, platforms, DLC and more
Alan Wake 2 brings players back into the hero's journey after 13 years in the Dark Place. A new character, Saga Anderson, who is an FBI agent, joins the adventure to solve unusual murders. Fans anticipate DLC, including a Photo Mode and New Game Plus called The Final Draft. Paid expansions, Night Springs and The Lake House, will be available in 2024. The game releases on October 27 for PC, PS5, and Xbox Series X|S. Key Points
Economic TimesOrmax Media open to explore options to expand biz outside India
The Ormax Media CEO said the company had plans to venture outside India before Covid-19, but the pandemic forced it to delay expansion plans. Our plans were pushed back because of the pandemic, but we hope to take them up again in the coming year or two, he said. Key Points
Economic TimesIndustry activity remains strong on new export orders
Manufacturing activity continued its strong momentum in July even as a marginally softer rate of expansion in output and new orders brought down the PMI reading for the month to 57.7 from 57.8 in June. Key Points
Economic TimesPSSL Q4 Results, Company Awestruck Investors with Impressive Results
With its sights set on expansion in Mauritius, Pressure Sensitive Systems India Ltd. envisions replicating the success it has achieved in Dubai. Key Points
Hindustan TimesIndia’s economy seen losing speed as rising rates hurt demand
Gross domestic product probably rose 4.7% last quarter from a year ago, according to a median estimate of economists in a Bloomberg survey ahead of data due Tuesday at 5:30 p.m. local time. That will be the slowest quarterly performance since the 4.09% expansion in the three months ended March last year. Key Points
Economic Times
View: China’s glut, India’s drought. Two faces of liquidity
The liquidity drought may be deliberate. Unlike Beijing, New Delhi has every reason to be sanguine about growth. A 7%-plus rate of economic expansion gives it breathing room to slay inflation before embarking on a fresh investment spree after the polls. Unless the Modi government surprises analysts by announcing a populist spending program in its Feb. 1 budget, the reasonable assumption is that its angling for an upgrade to its sovereign rating, which is perched at the lowest rung of investment grade. Meanwhile, the monetary authority is seeking to buttress its credibility as an inflation fighter. Key Points
Economic TimesIndiGo steps up foreign expansion plans with 6 new direct flights to Africa and Central Asia
IndiGo plans to expand its network by launching direct flights to six new destinations in Africa and Central Asia. IndiGo will begin operating Mumbai-Nairobi and Mumbai-Jakarta from late July/early August, while Delhi-Tbilisi, Delhi-Baku, Delhi-Tashkent, and Delhi-Almaty will begin in August and September. Including new destinations and routes, the company will add 174 weekly international flights between June and September 2023. Key Points
Economic Times‘Expecting a double-digit growth in volumes in FY24’
The company is expecting a double-digit growth in volumes in FY24, relying on continued growth in truck and bus radial demand. Anuj Khaturia, president, JK Tyre and Industries, spoke to Swaraj Baggonkar on the company’s plans. Excerpts. Key Points
FinancialexpressPSSL Q4 Results, Reports Profit 38 Cr, PE Ratio at near 4, Company Awestruck Investors with Impressive Results
With its sights set on expansion in Mauritius, Pressure Sensitive Systems India Ltd. envisions replicating the success it has achieved in Dubai. The company's vision aligns with its previous accomplishments, having successfully completed orders worth 85 crores Key Points
mintPlatinum Industries CMD on IPO, sustaining financials, and ambitious expansion plans
Platinum Industries' IPO brings confidence and success amidst market conditions. expansion plans, sustainability, and innovation drive the company's financial growth. New manufacturing facilities, diverse product portfolio, and strategic investments position Platinum Industries as a global leader in the PVC industry. Chairman Krishna Dushyant Rana says Platinum Industries was born out of a vision to redefine the landscape of the PVC industry in India. Key Points
Economic Times
To take care of possible headwinds: 4 largecap stocks from different sectors with upside potential of up t
Market has a strange habit of giving surprises on both sides, moving up when no one is expecting and news is bad all around. Falling when no one is expecting it to fall and there is good news all around. So, in today’s time when there is good news all around, right from higher GDP numbers to better GST collections and on micro front companies announcing more orders and even words like expansion of capacity coming back, instead of predicting the time when there will be a correction, just be ready for it. Ready by staying with large caps and that too with sectors and stocks where some tailwinds are emerging. This is not to say that there cannot be some underperformance in large cap space, but the fact is that over the long term these large caps not only create much more wealth but in a bearish phase, they tend to protect the wealth by falling less as compared to mid and small caps. Key Points
Economic TimesRBI Guv Shaktikanta Das sees India growing close to 8% in FY24
RBI Governor Shaktikanta Das expects India's economic expansion in FY24 to be close to 8%, higher than official estimates. He clarified that recent RBI action was targeted at Paytm Payments Bank, not fintech companies. Internal surveys indicate high capacity utilisation and expectations of private investment picking up. Key Points
Economic TimesCorporate tax rate cut led to rise in pvt investments, credit growth: FM Sitharaman
Finance minister Nirmala Sitharaman stressed the positive impact of the corporate tax rate cut on private investments and credit growth. She emphasized the need for capacity expansion in high employment potential areas. India is negotiating free trade agreements and has facilitated direct benefit transfers. Key Points
Economic Times