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IndiaTV Business: Google News Feed: Digest for January 19, 2024

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State-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) are considering a reduction in petrol and diesel prices in February, just ahead of the Lok Sabha elections.
About 86 per cent of CEOs in India think that the economy will improve over the next 12 months, according to PwC's 27th Annual Global CEO Survey.

Budget 2024: Key differences between interim and regular budget

Wednesday 17 January 2024 05:44 AM UTC+00
Union Finance Minister Nirmala Sitharaman is set to present her sixth budget on February 1, 2024. However, instead of a full budget, she will be presenting an interim budget due to the upcoming Lok Sabha elections scheduled for April-May. This is a customary practice in an election year, where the incumbent government presents an interim budget to cover essential expenditures until a new government assumes office.
Shares of HDFC Bank fell 7 per cent in morning trade on Wednesday after its December quarter earnings failed to impress investors. The stock tanked 6.48 per cent to Rs 1,570 on the BSE and 7 per cent to Rs 1,560 on the NSE.
Reserve Bank of India (RBI) Chief Shaktikanta Das said that inflation in India is moderating and steadily approaching the central bank's target of 4 per cent, while growth prospects for the country remain robust.
Equity benchmark indices  Sensex and Nifty plunged significantly on Wednesday, falling nearly 2 per cent each intra-day following a hint from  US Federal Reserve official Christopher J Waller that there was less urgency for a rate cut. 
Equity benchmarks, the Nifty 50 and the Sensex, experienced their most significant single-day percentage loss since June 2022 on Wednesday, January 17. This decline was primarily triggered by a substantial fall in HDFC Bank's share price.
Tata Passenger Electric Mobility Ltd (TPEM), a subsidiary of Tata Motors, has launched its first all-electric vehicle (EV) - the Punch.ev. The prices for the Tata Punch.ev range from Rs 10.99 lakh to Rs 14.49 lakh for the top-spec variant. Deliveries of the electric Sports Utility Vehicle (SUV) are set to begin on January 22.
Japan Airlines (JAL) has appointed its first female president, Mitsuko Tottori, marking a significant step in addressing gender inequality in the country's corporate landscape. Tottori, a senior managing executive officer who joined JAL in 1985, is set to assume the role on April 1.
Amid a challenging global macroeconomic environment, India presents a picture of growth and stability, and the economy is expected to grow 7 per cent in fiscal 2024-25, said RBI Governor Shaktikanta Das, addressing an event at the World Economic Forum Meeting 2024 in Davos, Switzerland.
Reserve Bank of India (RBI) Chief Shaktikanta Das said that inflation in India is moderating and steadily approaching the central bank's target of 4 per cent, while growth prospects for the country remain robust.
Equity benchmark indices  Sensex and Nifty plunged significantly on Wednesday, falling nearly 2 per cent each intra-day following a hint from  US Federal Reserve official Christopher J Waller that there was less urgency for a rate cut. 
Equity benchmarks, the Nifty 50 and the Sensex, experienced their most significant single-day percentage loss since June 2022 on Wednesday, January 17. This decline was primarily triggered by a substantial fall in HDFC Bank's share price.
Tata Passenger Electric Mobility Ltd (TPEM), a subsidiary of Tata Motors, has launched its first all-electric vehicle (EV) - the Punch.ev. The prices for the Tata Punch.ev range from Rs 10.99 lakh to Rs 14.49 lakh for the top-spec variant. Deliveries of the electric Sports Utility Vehicle (SUV) are set to begin on January 22.
Japan Airlines (JAL) has appointed its first female president, Mitsuko Tottori, marking a significant step in addressing gender inequality in the country's corporate landscape. Tottori, a senior managing executive officer who joined JAL in 1985, is set to assume the role on April 1.
Amid a challenging global macroeconomic environment, India presents a picture of growth and stability, and the economy is expected to grow 7 per cent in fiscal 2024-25, said RBI Governor Shaktikanta Das, addressing an event at the World Economic Forum Meeting 2024 in Davos, Switzerland.
Sensex on Thursday tanked 561.05 points to 70,939.71 in early trade and Nifty plunged 165.6 points to 21,406.35. Investors continued to cash in profits following the recent impressive rally, with the mood further dampened by fresh foreign fund outflows. The 30-share BSE Sensex dropped by 561.05 points to reach 70,939.71, while the Nifty saw a plunge of 165.6 points to 21,406.35.
Days after a video of passengers having food on Mumbai airport tarmac, and reports of airlines failing to comply with the rostering of pilots for operating flights in low visibility conditions, the Aviation regulators Bureau of Civil Aviation Security (BCAS) and Directorate General of Civil Aviation (DGCA) slapped penalties totalling Rs 2.70 crore.
HDFC Bank shares continued their decline, dropping over 3 per cent as its US-listed shares experienced a 9.1 per cent fall to $55.5, the largest single-day drop since March 2020.
Asian Paints surpassed expectations by reporting 12 per cent year-on-year volume growth in the third quarter of the financial year 2024, slightly below the estimated 13 per cent, according to analysts. The growth was attributed to robust expansion in both rural and urban markets, driven by an extended festive season.
Tata Passenger Electric Mobility Ltd (TPEM), a subsidiary of Tata Motors, has launched its first all-electric vehicle (EV) - the Punch.ev. The prices for the Tata Punch.ev range from Rs 10.99 lakh to Rs 14.49 lakh for the top-spec variant. Deliveries of the electric Sports Utility Vehicle (SUV) are set to begin on January 22.
Japan Airlines (JAL) has appointed its first female president, Mitsuko Tottori, marking a significant step in addressing gender inequality in the country's corporate landscape. Tottori, a senior managing executive officer who joined JAL in 1985, is set to assume the role on April 1.
Amid a challenging global macroeconomic environment, India presents a picture of growth and stability, and the economy is expected to grow 7 per cent in fiscal 2024-25, said RBI Governor Shaktikanta Das, addressing an event at the World Economic Forum Meeting 2024 in Davos, Switzerland.
Sensex on Thursday tanked 561.05 points to 70,939.71 in early trade and Nifty plunged 165.6 points to 21,406.35. Investors continued to cash in profits following the recent impressive rally, with the mood further dampened by fresh foreign fund outflows. The 30-share BSE Sensex dropped by 561.05 points to reach 70,939.71, while the Nifty saw a plunge of 165.6 points to 21,406.35.
Days after a video of passengers having food on Mumbai airport tarmac, and reports of airlines failing to comply with the rostering of pilots for operating flights in low visibility conditions, the Aviation regulators Bureau of Civil Aviation Security (BCAS) and Directorate General of Civil Aviation (DGCA) slapped penalties totalling Rs 2.70 crore.
HDFC Bank shares continued their decline, dropping over 3 per cent as its US-listed shares experienced a 9.1 per cent fall to $55.5, the largest single-day drop since March 2020.
Asian Paints surpassed expectations by reporting 12 per cent year-on-year volume growth in the third quarter of the financial year 2024, slightly below the estimated 13 per cent, according to analysts. The growth was attributed to robust expansion in both rural and urban markets, driven by an extended festive season.
Budget carrier Akasa Air announced plans to acquire 150 Boeing 737 MAX narrowbody planes, signalling its strategic expansion in both domestic and international operations within India's thriving aviation market. The announcement was made at the "Wings India" event in Hyderabad, highlighting the airline's commitment to growth.
To incentivise the manufacturing sector and generate employment, the government may extend the scope of the PLI scheme to include sectors like garments, jewellery, and handicrafts in the upcoming interim budget, Deloitte said.
The Employees' Provident Fund Organisation (EPFO) has said that Aadhaar cards will no longer be accepted as a valid proof of date of birth. The decision, communicated through a circular on Tuesday, has received approval from the Central Provident Fund Commissioner (CPFC) and follows a directive from the Unique Identification Authority of India (UIDAI).
Days after a video of passengers having food on Mumbai airport tarmac, and reports of airlines failing to comply with the rostering of pilots for operating flights in low visibility conditions, the Aviation regulators Bureau of Civil Aviation Security (BCAS) and Directorate General of Civil Aviation (DGCA) slapped penalties totalling Rs 2.70 crore.
HDFC Bank shares continued their decline, dropping over 3 per cent as its US-listed shares experienced a 9.1 per cent fall to $55.5, the largest single-day drop since March 2020.
Asian Paints surpassed expectations by reporting 12 per cent year-on-year volume growth in the third quarter of the financial year 2024, slightly below the estimated 13 per cent, according to analysts. The growth was attributed to robust expansion in both rural and urban markets, driven by an extended festive season.
Budget carrier Akasa Air announced plans to acquire 150 Boeing 737 MAX narrowbody planes, signalling its strategic expansion in both domestic and international operations within India's thriving aviation market. The announcement was made at the "Wings India" event in Hyderabad, highlighting the airline's commitment to growth.
To incentivise the manufacturing sector and generate employment, the government may extend the scope of the PLI scheme to include sectors like garments, jewellery, and handicrafts in the upcoming interim budget, Deloitte said.
The Employees' Provident Fund Organisation (EPFO) has said that Aadhaar cards will no longer be accepted as a valid proof of date of birth. The decision, communicated through a circular on Tuesday, has received approval from the Central Provident Fund Commissioner (CPFC) and follows a directive from the Unique Identification Authority of India (UIDAI).
The BSE Sensex ended Thursday's trading session 313.90 lower at 71,186.86, while the Nifty fell 0.43 per cent and setlled at 21,479.15. HDFC Bank slipped 3 per cent after falling over 8 per cent on Wednesday. Besides, NTPC, Asian Paints, PowerGrid, IndusInd Bank, Titan Company, Maruti Suzuki, Bajaj Finance, JSW Steel, and Nestle India were the other top laggards, falling upwards of 1 per cent each.
The Cabinet has approved the creation of three officer-level posts to assist the 16th Finance Commission, chaired by Arvind Panagariya.
IMF Chief Kristalina Georgieva said on Thursday that interest rates are expected to continue falling in 2024, but she cautioned that the last stage is "very, very tricky" and there is no room for policy errors.
India will need 2,840 new aircraft and 41,000 pilots, as well as 47,000 technical staff, in the next 20 years, Rémi Maillard, President and Managing Director of Airbus India and South Asia, said on Thursday.
HDFC Bank shares continued their decline, dropping over 3 per cent as its US-listed shares experienced a 9.1 per cent fall to $55.5, the largest single-day drop since March 2020.
Asian Paints surpassed expectations by reporting 12 per cent year-on-year volume growth in the third quarter of the financial year 2024, slightly below the estimated 13 per cent, according to analysts. The growth was attributed to robust expansion in both rural and urban markets, driven by an extended festive season.
Budget carrier Akasa Air announced plans to acquire 150 Boeing 737 MAX narrowbody planes, signalling its strategic expansion in both domestic and international operations within India's thriving aviation market. The announcement was made at the "Wings India" event in Hyderabad, highlighting the airline's commitment to growth.
To incentivise the manufacturing sector and generate employment, the government may extend the scope of the PLI scheme to include sectors like garments, jewellery, and handicrafts in the upcoming interim budget, Deloitte said.
The Employees' Provident Fund Organisation (EPFO) has said that Aadhaar cards will no longer be accepted as a valid proof of date of birth. The decision, communicated through a circular on Tuesday, has received approval from the Central Provident Fund Commissioner (CPFC) and follows a directive from the Unique Identification Authority of India (UIDAI).
The BSE Sensex ended Thursday's trading session 313.90 lower at 71,186.86, while the Nifty fell 0.43 per cent and setlled at 21,479.15. HDFC Bank slipped 3 per cent after falling over 8 per cent on Wednesday. Besides, NTPC, Asian Paints, PowerGrid, IndusInd Bank, Titan Company, Maruti Suzuki, Bajaj Finance, JSW Steel, and Nestle India were the other top laggards, falling upwards of 1 per cent each.
The Cabinet has approved the creation of three officer-level posts to assist the 16th Finance Commission, chaired by Arvind Panagariya.
IMF Chief Kristalina Georgieva said on Thursday that interest rates are expected to continue falling in 2024, but she cautioned that the last stage is "very, very tricky" and there is no room for policy errors.
India will need 2,840 new aircraft and 41,000 pilots, as well as 47,000 technical staff, in the next 20 years, Rémi Maillard, President and Managing Director of Airbus India and South Asia, said on Thursday.

Indian economy to see stronger-than-expected growth in FY24: RBI

Thursday 18 January 2024 01:01 PM UTC+00
The Indian economy is expected to achieve stronger-than-expected growth in 2023-24, with the government's focus on capital expenditure starting to attract private investment, said the Reserve Bank of India (RBI). The article, titled 'State of the Economy,' in the RBI's bulletin highlights the shift from consumption to investment as a key factor driving India's economic growth.
HDFC Bank shares continued their decline, dropping over 3 per cent as its US-listed shares experienced a 9.1 per cent fall to $55.5, the largest single-day drop since March 2020.
Asian Paints surpassed expectations by reporting 12 per cent year-on-year volume growth in the third quarter of the financial year 2024, slightly below the estimated 13 per cent, according to analysts. The growth was attributed to robust expansion in both rural and urban markets, driven by an extended festive season.
Budget carrier Akasa Air announced plans to acquire 150 Boeing 737 MAX narrowbody planes, signalling its strategic expansion in both domestic and international operations within India's thriving aviation market. The announcement was made at the "Wings India" event in Hyderabad, highlighting the airline's commitment to growth.
To incentivise the manufacturing sector and generate employment, the government may extend the scope of the PLI scheme to include sectors like garments, jewellery, and handicrafts in the upcoming interim budget, Deloitte said.
The Employees' Provident Fund Organisation (EPFO) has said that Aadhaar cards will no longer be accepted as a valid proof of date of birth. The decision, communicated through a circular on Tuesday, has received approval from the Central Provident Fund Commissioner (CPFC) and follows a directive from the Unique Identification Authority of India (UIDAI).
The BSE Sensex ended Thursday's trading session 313.90 lower at 71,186.86, while the Nifty fell 0.43 per cent and setlled at 21,479.15. HDFC Bank slipped 3 per cent after falling over 8 per cent on Wednesday. Besides, NTPC, Asian Paints, PowerGrid, IndusInd Bank, Titan Company, Maruti Suzuki, Bajaj Finance, JSW Steel, and Nestle India were the other top laggards, falling upwards of 1 per cent each.
The Cabinet has approved the creation of three officer-level posts to assist the 16th Finance Commission, chaired by Arvind Panagariya.
IMF Chief Kristalina Georgieva said on Thursday that interest rates are expected to continue falling in 2024, but she cautioned that the last stage is "very, very tricky" and there is no room for policy errors.
India will need 2,840 new aircraft and 41,000 pilots, as well as 47,000 technical staff, in the next 20 years, Rémi Maillard, President and Managing Director of Airbus India and South Asia, said on Thursday.

Indian economy to see stronger-than-expected growth in FY24: RBI

Thursday 18 January 2024 01:01 PM UTC+00
The Indian economy is expected to achieve stronger-than-expected growth in 2023-24, with the government's focus on capital expenditure starting to attract private investment, said the Reserve Bank of India (RBI). The article, titled 'State of the Economy,' in the RBI's bulletin highlights the shift from consumption to investment as a key factor driving India's economic growth.
HDFC Bank shares continued their decline, dropping over 3 per cent as its US-listed shares experienced a 9.1 per cent fall to $55.5, the largest single-day drop since March 2020.
Asian Paints surpassed expectations by reporting 12 per cent year-on-year volume growth in the third quarter of the financial year 2024, slightly below the estimated 13 per cent, according to analysts. The growth was attributed to robust expansion in both rural and urban markets, driven by an extended festive season.
Budget carrier Akasa Air announced plans to acquire 150 Boeing 737 MAX narrowbody planes, signalling its strategic expansion in both domestic and international operations within India's thriving aviation market. The announcement was made at the "Wings India" event in Hyderabad, highlighting the airline's commitment to growth.
To incentivise the manufacturing sector and generate employment, the government may extend the scope of the PLI scheme to include sectors like garments, jewellery, and handicrafts in the upcoming interim budget, Deloitte said.
The Employees' Provident Fund Organisation (EPFO) has said that Aadhaar cards will no longer be accepted as a valid proof of date of birth. The decision, communicated through a circular on Tuesday, has received approval from the Central Provident Fund Commissioner (CPFC) and follows a directive from the Unique Identification Authority of India (UIDAI).
The BSE Sensex ended Thursday's trading session 313.90 lower at 71,186.86, while the Nifty fell 0.43 per cent and setlled at 21,479.15. HDFC Bank slipped 3 per cent after falling over 8 per cent on Wednesday. Besides, NTPC, Asian Paints, PowerGrid, IndusInd Bank, Titan Company, Maruti Suzuki, Bajaj Finance, JSW Steel, and Nestle India were the other top laggards, falling upwards of 1 per cent each.
The Cabinet has approved the creation of three officer-level posts to assist the 16th Finance Commission, chaired by Arvind Panagariya.
IMF Chief Kristalina Georgieva said on Thursday that interest rates are expected to continue falling in 2024, but she cautioned that the last stage is "very, very tricky" and there is no room for policy errors.
India will need 2,840 new aircraft and 41,000 pilots, as well as 47,000 technical staff, in the next 20 years, Rémi Maillard, President and Managing Director of Airbus India and South Asia, said on Thursday.

Indian economy to see stronger-than-expected growth in FY24: RBI

Thursday 18 January 2024 01:01 PM UTC+00
The Indian economy is expected to achieve stronger-than-expected growth in 2023-24, with the government's focus on capital expenditure starting to attract private investment, said the Reserve Bank of India (RBI). The article, titled 'State of the Economy,' in the RBI's bulletin highlights the shift from consumption to investment as a key factor driving India's economic growth.
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