Car makers log sales growth in September

Chennai, Oct 1 (IANS) Festive season and new launches geared the passenger vehicle sales last month as car majors in India logged sales growth last month as compared to the previous year’s corresponding month. Maruti Suzuki (NS:) India Limited that makes cars and also light commercial vehicles logged a total sales of 176,306 units last … Read more

Internal Tesla Report Forecasts 4Q Output Jump and Growth Through 2023 By

© Reuters. By Michael Elkins  A report by Reuters Friday, citing internal plans, shows that electric vehicle company, Tesla (NASDAQ:) plans to push global production of its top-selling Model Y and Model 3 electric vehicles sharply higher in the fourth quarter. The forecast covers the next four consecutive quarters and begins with the objective to … Read more

RBI Retains FY23 Inflation Forecast & Revises GDP Growth Figures; Q1FY24 Numbers

By Malvika Gurung — The Monetary Policy Committee (MPC) of RBI has retained the country’s projection for the current financial year at 6.7% amid upside risks from food inflation. The central bank expects inflation to fall to 5% by the first quarter of the next financial year (FY24), which is under the tolerance range … Read more

RBI hikes repo rate by 50 basis points, pegs inflation at 6.7% & eco growth at 7% (2nd Ld)

Chennai, Sep 30 (IANS) As expected earlier, the Reserve Bank of India‘s Monetary Policy Committee (MPC) in a 5:1 decision increased the repo rate by 50 basis points to 5.90 on Friday. The RBI Governor Shaktikanta Das, heading the MPC, announced the hike to subdue the inflation. “Based on an assessment of the macroeconomic situation … Read more

Exclusive: Forex Expert on Key INR Levels, RBI’s Rate-Hike, Global Growth & More

By Malvika Gurung — After days of incessant rout, the eased from its lifetime low hit against the US dollar on Tuesday and rose to 81.39/$1 in the morning session after slipping to a record low of 81.67 in the previous session. Read Also: INR Rout Extends, Falls to New Low, Key Levels in … Read more

At 264%, India logs fastest growth in global IoT module market

New Delhi, Sep 24 (IANS) India was the fastest growing Internet of Things (IoT) module market with more than 264 per cent growth in the second quarter this year, a report showed. Although growing on a lower base, the growth in IoT modules in India was driven by smart meters, telematics, point of sale (POS) … Read more

Fashion categories set to see biggest growth in India festive season

Bengaluru, Sep 23 (IANS) As the sales in the first festive week is likely to touch $5.9 billion this year, 63 per cent of consumers are planning to spend on fashion categories compared to 56 per cent last year, a new report showed on Friday. Despite concerns around inflation and discretionary spends, customers are looking … Read more

Muted 12% premium growth for Indian non-life sector: Kotak Securities

Chennai, Sep 22 (IANS) The month of August saw the Indian non-life insurance sector logging a muted 12 per cent premium growth, Kotak Securities said in a report. According to the report, the sector’s growth was the lowest in the last five months. “While motor (vehicle insurance) was muted at 12 per cent, retail health … Read more

‘Buckle Up’ as Inflation Fight Threatens Growth, IMF Chief Warns

(Bloomberg) — International Monetary Fund Managing Director Kristalina Georgieva said she expects slowing growth from higher borrowing costs will make next year feel like a recession for millions of people, even if the global economy avoids a technical downturn.  “Increased interest rates will bite and we will see the impact on growth,” Georgieva said in … Read more