Highway builders want infra loans provision pared to 2%
By increasing the provisioning from 0.4% to 5%, project viability will be the biggest impediment as interest cost will increase which is turn will increase the cost of the project both for the investor as well as the government, the National Highways Builders Federation (NHBF) said in its submission to the National Highways Authority of India, the finance ministry and the Reserve Bank of India. Key Points
Economic TimesMaruti Suzuki announces price hike across all vehicle models, shares jump 1.5%
Maruti Suzuki shares gained nearly 1.5 per cent during intraday trade after the company announced an increase in prices across all its vehicle models. Key Points
India TodayMaruti Suzuki to increase car prices from January 2024
New Delhi [India], November 27 (ANI): Automaker Maruti Suzuki is yet again set to increase the prices of its cars in January. According to the automaker, the proposed hike was necessitated due to an increased cost pressure driven by overall inflation and increased commodity prices. “While the company makes maximum efforts to reduce cost and […] Key Points
ThePrintMaruti Suzuki India to hike prices in Jan, quantum not finalised
New Delhi, Nov 27 (PTI) Marti Suzuki India on Monday said it plans to increase prices of its vehicles in January 2024, citing cost pressure driven by overall inflation and increased commodity rates. The company, which sells a range of vehicles from entry-level small car Alto to multi-utility vehicle Invicto, priced between Rs 3.54 lakh […] Key Points
ThePrintBanks in talks to offer 5-day work week, 15% wage hike
Government-owned and established private-sector banks are currently in discussions to grant their employees an approximately 15% salary increase and are considering implementing a five-day workweek. While the Indian Banks' Association proposed the 15% raise, unions are pressing for more significant improvements. Key Points
Economic Times
Himachal Pradesh increases VAT on diesel by ₹3/litre, cites huge losses due to heavy rains
Himachal Pradesh government has increased the value added tax (VAT) on diesel by ₹3 per litre to ₹10.40 per litre to enhance revenue. The increase comes as the state is dealing with widespread damage caused by heavy rainfall. Key Points
mintTata Motors to hike prices of its passenger vehicles by an average 0.6% from 17 July
Tata Motors had announced price hikes of 1.2% in January and 0.6% in April, citing increased input costs and regulatory changes, respectively. Key Points
ThePrintDelhi-NCR’s micro markets continue to stay buoyant
The real estate markets in the top three micro-markets of Delhi-NCR – Delhi, Noida and Gurgaon – are witnessing an upswing in demand and value. Real estate continues to be the best investment option in Delhi-NCR micro-markets, with people choosing to prefer these cities over others to live. In a report by Research & Reports […] Key Points
FinancialexpressMaruti Suzuki hikes vehicle prices
On March 23, MSI had announced that it will increase prices of its model range in April to partially offset the impact of overall inflation and regulatory requirements . Already several automakers, including Honda Cars, Tata Motors and Hero MotoCorp, have announced increase in prices from April. Key Points
Economic TimesIndia Inc goes about business as viral infections surge
There is no visible trend of panic buying, but demand for masks and sanitisers has seen an uptick in the last three-four days, a spokesperson for ecommerce grocery platform Zepto said. The health and immunity-boosting products continue to do well on the platform, while OTC (over-the-counter) products like ORS have seen a multi-fold increase in sales, said the spokesperson. Key Points
Economic Times
Salary hikes may drop to 10.3% this year from 10.6% in 2022: Aon survey
India Business News: The study covered 1,400 companies from over 40 industries and showed a hike ranging from a high of 12.2% for e-com sector employees to 9.7 in retail a Key Points
Times Of IndiaCentre increases MGNREGA wages by 3-10%. Haryana highest at Rs 374 per day, Arunachal lowest
Issue of low wages was pointed out by Parliamentary panel in a report tabled in February. It demanded increase in wages to engage more workers and to bring uniformity across states. Key Points
ThePrintPersonal loans to get costlier? Interest rates likely to rise by up to 1.5% in 2024 with new RBI rules
Find out why personal loans in India are set to become more expensive in 2024. Learn about the recent rule changes by the Reserve Bank of India (RBI) and how they will impact the cost of unsecured lending. Discover the potential increase in interest rates and stricter eligibility criteria for borrowers. Key Points
Times Of IndiaManufacturing activity slows to 57.5 in September; sentiment improves
India's manufacturing activity slowed down in September, with the Purchasing Managers' Index falling to its lowest level in five months. The decline was primarily due to a softer increase in new orders, although export orders remained strong. Despite this, firms in the sector remain optimistic and expect output levels to increase in the next twelve months. Key Points
Economic TimesMaruti Suzuki announces price hike across models to offset inflation
Maruti Suzuki has announced a 0.45% price hike across its models due to increased cost pressure from inflation and increased commodity prices. The hike will take effect from January 16, 2024. The weighted average increase across models is around 0.45%. Other automakers, including Tata Motors, Mahindra & Mahindra, Honda Cars India, and luxury car dealer Audi, have also hiked prices this month Key Points
Economic TimesHyundai cars in India to get costlier from January 2024
New Delhi [India], December 7 (ANI): Cars manufactured by Hyundai Motor India will cost more starting January 2024. The automaker announced on Thursday that the price increase was needed owing to rising input costs, an adverse exchange rate, and an increase in commodity prices, amongst other reasons. However, the automaker maintains it will continue to […] Key Points
ThePrintMaruti Suzuki to hike prices in January due to inflationary pressures
Maruti Suzuki plans to increase its car prices in January 2024 due to rising commodity prices and inflation. The company aims to reduce costs and offset the increase, but may pass it on to the market. The price increase will vary across models, the company said in a stock exchange intimation. Key Points
Economic TimesTelangana Polls: BRS releases its manifesto; promises LPG cylinder at Rs 400, increased social security pe
The ruling BRS party in Telangana has announced its manifesto for the upcoming assembly elections. The party, led by Chief Minister K Chandrasekhar Rao (KCR), has promised to increase financial assistance for farmers under the 'Rythu Bandhu' scheme, raise the amount of social security pensions, and provide LPG cylinders at a cost of Rs 400 each. Key Points
Economic TimesHow India's market capitalisation skyrocketed 30 times in 20 years
In the rally which looks one-way on the larger time frame, the market cap crossed the Rs 50 lakh crore mark in 2007, Rs 100 lakh crore milestone in 2014, and the Rs 200 lakh crore-mark in February 2021. The surge in market capitalisation is a result of not only an increase in stock prices but also takes into account new listings on the stock exchange. Key Points
Economic TimesRural consumer goods consumption back to growth in March quarter, says report
The increase in product prices slowed to 6.9% from January to March, from 7.9% in the previous quarter, helping consumption in rural India increase 0.3%, after six quarters of decline. Key Points
Financialexpress
Smartphones may get costlier from next quarter
Smartphone prices may increase in the June quarter due to rising memory chip prices and the strengthening of the Chinese yuan. Recent import duty cuts may partially offset the increase. Samsung and Micron are expected to implement a 15-20% price increase for memory chips in the March quarter. The impact of the price hike will be felt in the next quarter as vendors currently have sufficient inventory. Key Points
Economic TimesBudget 2024 to boost Udman Hotels; gift biz to see 45% sales surge over Valentine's Day: Ferns N Petals' Vikaas Gutgutia
Valentine's Day Sale: Ferns N Petals expects an up to 50% increase in Valentine's Day sales, with gift hampers and personalised products showing 100% growth. This reflects a shift in consumer preferences towards unique and exclusive gifts. Key Points
mintNew electricity tariffs kick in, leave consumers in shock
As the new tariff revisions, which were approved by the Karnataka Electricity Regulatory Commission (KERC) in May, came into effect and started reflecting in the bills generated this month, many citizens were left in a state of shock or confusion. Many took to social media to air out their confusion about seeing over a 30-50% increase in their Bangalore Electricity Supply Company (Bescom). Key Points
The HinduTamil Nadu ports see 24% jump in vehicle exports, ship 380,000 units in FY23
While ChPA recorded a 36% increase in export of cars to 231,412 units, up from 170,482 in FY22, KPL handled 148,307 automobile units in FY23 against 135,702 automobile units in FY22, an increase of 9.29%. Key Points
FinancialexpressListed internet companies buck the trend to expand payrolls in FY23
While Paytm saw its employee headcount expand by a whopping 3.5 times during the fiscal, PB Fintech, which runs the Policybazaar platform, saw a 32% year-on-year increase in employees. Mumbai-based FSN Ecommerce, which runs the Nykaa platform, saw a 15% year-on-year increase in its headcount, while CarTrade Techs workforce increased 44%. Key Points
Economic Times
India's housing sales hit record high in Q2 despite high loan rates, economic challenges
Despite challenges such as soaring home loan rates and global economic uncertainties, the housing sales in India reached an all-time high in the second quarter. Approximately 115,100 units were sold, a 36% increase compared to the same period last year. Mumbai Metropolitan Region (MMR) and Pune accounted for over half of the sales, with Pune experiencing the highest yearly jump of 65%. New property launches also increased by 25% compared to the previous year. The average residential property prices witnessed a moderate increase of 6-10% in the second quarter. Key Points
Economic TimesStudy links childhood inactivity with heart enlargement, finds light activity could reverse effects
Being sedentary or performing little activity in childhood is associated with heart enlargement, which progressed with an increase in time spent sitting... Key Points
The Tribune IndiaSAT Industries Q4 Results Live : profit falls by 38.13% YOY
SAT Industries Q4 Results Live : Revenue increased by 7.8% YoY & profit decreased by 38.13% YoY Key Points
mintBerger Paints Q3FY'24 net profit jumps 49pc to Rs 300cr
Kolkata, Feb 6 (PTI) Berger Paints on Tuesday posted a 49 per cent year-on-year increase in its consolidated net profit to Rs 300.16 crore for the third quarter of the current financial year. Revenue from operations also grew by 7 per cent to Rs 2,881.83 crore during the October-December period, the company said in a […] Key Points
ThePrintScan Steels Q3 FY24 Results Live: Profit Rises by 53.25% YoY
Scan Steels Q3 FY24 Results Live: Revenue Decreased by 26.59% YoY & Profit Increased by 53.25% YoY Key Points
mint
Bajaj Auto Q3 preview: PAT may surge 33% YoY on strong volumes, price hikes
The two-wheeler makers net profit is seen rising a sharp 33.3% year-on-year (YoY) to Rs 1,987 crore, led by an over 29% growth in revenue and a 32% growth in the operating profit, the average of estimates given by eight brokerage firms showed. Key Points
Economic TimesBank of Maharashtra hikes deposit rates up to 125 bps
State-owned Bank of Maharashtra has announced an increase in its fixed deposit rates by up to 1.25%. The new rates will be effective from October 12 and will apply to both fixed deposits and special schemes. The rate hike aims to encourage individuals and businesses to save more, with a sharp increase of 1.25% in deposit rates for the 46-90 day tenure. Key Points
Economic TimesIndia's manufacturing activity eases marginally in September
The Manufacturing Purchasing Managers' Index INPMI=ECI, compiled by S&P Global, fell to 57.5 last month from 58.6 in August. Key Points
India TodayKarnataka: CM Siddaramaiah taps booze, property markets to fund poll pledges
The excise duty has been proposed to be increased by 20% on Indian-made liquor. On beer, the additional excise duty will be raised to 185% from 175%. Even after the increase in excise rates, the price of liquor in our state would be lower when compared to the neighbouring states, the chief minister said, presenting the fiscal 2023-24 budget of the new Congress government Key Points
Economic TimesCharting the global economy: Fed, ECB policies may diverge
The Fed chief said there was strong support for raising rates by 25 basis points. But he suggested officials may pause their tightening campaign in June to assess how the economy is responding to tighter credit conditions. Key Points
Economic Times
Mumbai Live News Updates: Court acquits 5 booked for Naxal links; police to rely on ‘last seen theory’ in MBBS student murder case
Mumbai Live News Updates: Perusal of the entire evidence shows witnesses examined by the prosecution are not trustworthy... deposing under the compelling situation and pressure of police, the court said Key Points
The Indian ExpressLiquor to cost more in Uttar Pradesh from today
With the new policy, the prices of country liquor 5, English 10 and beer will increase by Rs 5 to 7. From April 1, a 200 ml packet of country liquor with 25 per cent strength will increase from Rs 50 to Rs 55. Key Points
Economic TimesCoal India chief says fuel price could be linked to inflation
Prices of domestic coal used for generating power have not been revised in the past five years. Coal India chairman and MD Pramod Agrawal said the company is looking at linking fuel prices with parameters so that smooth price increase can happen in future. Key Points
Economic TimesDelivery executive jobs see increase in interest in metros and tier 2 cities
Skill, Labour and Talent for MSMEs: Among the metro cities, Chennai (at 11 per cent) witnessed the highest increase in interest, followed by other metro cities like Hyderabad and Bengaluru. Among the tier-two cities, Ernakulum, Tiruchchirappalli, Madurai, Patna, and Mohali witnessed a seven per cent increase over the same period. Key Points
FinancialexpressTelcos restricting calls, number of data top-ups to improve ARPU
Indian telecom operators, Reliance Jio, Bharti Airtel, and Vodafone Idea (Vi), have implemented measures to increase their average revenue per user (ARPU), including blocking incoming calls once the plan period ends. Telecom industry analysts suggest that ARPU will only significantly increase when tariffs are raised, which is not expected until after India's general elections next year. Key Points
Economic Times
Dearness Allowance hiked to 50%: Top things central government employees should know about DA hike, change in HRA
India Business News: The latest increase by the government has raised central government employees' Dearness Allowance (DA) to 50%. This means they will receive a 4% raise in their DA. Similarly, pensioners will also see their dearness relief (DR) rise by 4% to 50% to help offset the increase in prices. Key Points
Times Of IndiaFiscal deficit target of 5.1 per cent ambitious but achievable: Finance Secretary
Finance Secretary T V Somanathan believes that the government's target of reducing the fiscal deficit to 5.1% of GDP in 2024-25 is ambitious but achievable. This is based on the assumption of growth in tax revenue of 11.5%, an increase in non-tax revenue, and a nominal GDP growth rate of 10.5%. Somanathan also mentioned the control over avoidable expenditure and a balanced increase in capital expenditure as factors contributing to the target. He dismissed criticisms on capital expenditure, stating that the increase is realistic and necessary for the economy. Key Points
Economic TimesBudget 2024: Rural employment guarantee scheme may get 47% boost with Rs 88,000 crore allocation
Budget News: The upcoming budget for FY2025 is expected to allocate Rs 88,000 crore for the rural employment guarantee scheme, marking a 47% boost from the current fiscal year. The government is responding to the surge in demand for employment and an increase in wage rates. Key Points
Times Of IndiaPotential stars of next rally are top MF buys in November
Analysts say that insurance cos have managed to increase premiums on most of their existing policies by 20-30%. Given this increase, the profitability of insurance companies is likely to improve in the coming quarters, making current valuations attractive. Key Points
Economic TimesHyundai Motor India to invest Rs 20,000 crore in Tamil Nadu to develop EV ecosystem
Hyundai will setup a 1.78 lakh unit battery assembly plant, install 100 EV charging stations and also increase its IC-vehicle production. Key Points
Financialexpress
UK visa fees spike as Sunak government hikes health surcharge by 66%
Starting February 6, the United Kingdom will introduce a significant hike in its immigration health surcharge (IHS) for visa applicants. Applications submitted before January 6 will not be subject to the higher surcharge. The Sunak government also raised visa fees for tourists, students, and foreign workers, including an additional £15 for visit visas and an increase of £127 for student visas. Key Points
Economic TimesIndia’s auto parts makers’ H1FY24 sales up at ₹2.98 tn
Data released by Automotive Component Manufacturers Association of India (ACMA) showed exports of auto components grew marginally by 2.7% to $10.4 billion ( ₹85,870 crore), while imports rose 3.6% to $10.6 billion ( ₹87,420 crore). Key Points
mintHensoldt CEO: Leonardo to take no part in capital increase
Hensoldt (HAGG.DE) shareholder Leonardo (LDOF.MI) will not participate in the company's planned capital increase for the time being, the chief executive of the German military sensor maker told analysts on Wednesday. Key Points
Reuters