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IndiaTV Business: Google News Feed: Digest for January 20, 2024

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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.
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.

Sensex, Nifty rebound in early trade after three days of fall

Friday 19 January 2024 04:55 AM UTC+00
Benchmark equity indices Sensex and Nifty rebounded in early trade on Friday after three days of fall led by buying in bank and IT stocks, along with a firm trend in the US markets. The 30-share BSE Sensex rose 657.45 points to 71,844.31 in early trade after a firm beginning. The Nifty climbed 194.75 points to 21,657.

Who is Jagrut Kotecha, the new PepsiCo India CEO?

Friday 19 January 2024 05:12 AM UTC+00
PepsiCo India, a leading food and beverage company, has appointed Jagrut Kotecha as its CEO of India Operations, succeeding Ahmed ElSheikh. Kotecha, who previously served as the senior vice president and chief commercial officer for AMESA (Africa, Middle East, and South Asia regions), brings a wealth of experience to the role.
Jagrut Kotecha, the current Chief Commercial Officer of PepsiCo Africa, Middle East, and South Africa (AMESA), has been appointed as the new CEO for PepsiCo India.
Budget 2024: The "Halwa Ceremony" is a traditional pre-budget event in India that is performed every year before the "lock-in" process of the budget. It marks the formal commencement of the printing process for various documents related to the budget. The ceremony is a significant step in finalising the extensive budget-making process that spans several months.
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.

Sensex, Nifty rebound in early trade after three days of fall

Friday 19 January 2024 04:55 AM UTC+00
Benchmark equity indices Sensex and Nifty rebounded in early trade on Friday after three days of fall led by buying in bank and IT stocks, along with a firm trend in the US markets. The 30-share BSE Sensex rose 657.45 points to 71,844.31 in early trade after a firm beginning. The Nifty climbed 194.75 points to 21,657.

Who is Jagrut Kotecha, the new PepsiCo India CEO?

Friday 19 January 2024 05:12 AM UTC+00
PepsiCo India, a leading food and beverage company, has appointed Jagrut Kotecha as its CEO of India Operations, succeeding Ahmed ElSheikh. Kotecha, who previously served as the senior vice president and chief commercial officer for AMESA (Africa, Middle East, and South Asia regions), brings a wealth of experience to the role.
Jagrut Kotecha, the current Chief Commercial Officer of PepsiCo Africa, Middle East, and South Africa (AMESA), has been appointed as the new CEO for PepsiCo India.
Budget 2024: The "Halwa Ceremony" is a traditional pre-budget event in India that is performed every year before the "lock-in" process of the budget. It marks the formal commencement of the printing process for various documents related to the budget. The ceremony is a significant step in finalising the extensive budget-making process that spans several months.
The MCD said in December that geo-tagging all types of properties is now mandatory to qualify for a 10 per cent property tax exemption. The drive to geo-tag commercial and residential properties in Delhi has received a poor response, with just 78,000 properties being geo-tagged by their owners, as per a media report.
The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) have scheduled a special live trading session in the equity F&O (Futures and Options) segment on January 20, 2024.
Ayodhya is all set for the consecration ceremony of Ram Temple on January 22, 2024. Lord Ram pran pratishtha will be done at Ayodhya's Ram Mandir after several rituals and traditions by the temple committee. The star-studded event will be attended by many celebrities from the film industry, sports fraternity, industrialists and politicians as special guests. Special arrangements have been made for the 'Pran Pratishtha' ceremony for over 1,000 guests, out of which 506 guests are state-declared. Here is the complete list of industrialists, who are invited for the iconic consecration ceremony. 

Sensex soars 500 points, Nifty climbs 160 points to 21,622

Friday 19 January 2024 10:09 AM UTC+00
Sensex climbs 496.37 points to settle at 71,683.23 on Friday's trading session, Nifty surges 160.15 points to 21,622.40.
Budget 2024: The "Halwa Ceremony" is a traditional pre-budget event in India that is performed every year before the "lock-in" process of the budget. It marks the formal commencement of the printing process for various documents related to the budget. The ceremony is a significant step in finalising the extensive budget-making process that spans several months.
The MCD said in December that geo-tagging all types of properties is now mandatory to qualify for a 10 per cent property tax exemption. The drive to geo-tag commercial and residential properties in Delhi has received a poor response, with just 78,000 properties being geo-tagged by their owners, as per a media report.
The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) have scheduled a special live trading session in the equity F&O (Futures and Options) segment on January 20, 2024.
Ayodhya is all set for the consecration ceremony of Ram Temple on January 22, 2024. Lord Ram pran pratishtha will be done at Ayodhya's Ram Mandir after several rituals and traditions by the temple committee. The star-studded event will be attended by many celebrities from the film industry, sports fraternity, industrialists and politicians as special guests. Special arrangements have been made for the 'Pran Pratishtha' ceremony for over 1,000 guests, out of which 506 guests are state-declared. Here is the complete list of industrialists, who are invited for the iconic consecration ceremony. 
Sensex climbs 496.37 points to settle at 71,683.23 on Friday's trading session, Nifty surges 160.15 points to 21,622.40.
Hindustan Unilever Limited (HUL) reported its third-quarter profit for the financial year 2023-24 on Friday, amounting to Rs 2,509 crore. This reflects a 1.4 per cent increase compared to Rs 2,474 crore in the corresponding quarter of the previous year.
One 97 Communications, the parent company of the fintech firm Paytm, announced a 38 per cent increase in third-quarter revenue attributed to the strong performance of its payments business and robust loan growth in the financial services segment.
The Reserve Bank of India (RBI) has announced a change in the trading hours for money markets on January 22 due to a half-day holiday declared by the government in connection with the consecration of the Ram temple in Ayodhya. On that day, money markets will open at 2:30 pm instead of the usual 9 am.
India's largest telecom operator, Reliance Jio, reported a 12.2 per cent increase in its net profit for the December quarter, reaching Rs 5,208 crore. In the corresponding period of the previous year, the net profit was recorded at Rs 4,638 crore, as indicated in the filing.
Reliance Industries reported a 9 per cent rise in its third quarter net profit which stood at Rs 17,265 crore.
The MCD said in December that geo-tagging all types of properties is now mandatory to qualify for a 10 per cent property tax exemption. The drive to geo-tag commercial and residential properties in Delhi has received a poor response, with just 78,000 properties being geo-tagged by their owners, as per a media report.
The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) have scheduled a special live trading session in the equity F&O (Futures and Options) segment on January 20, 2024.
Ayodhya is all set for the consecration ceremony of Ram Temple on January 22, 2024. Lord Ram pran pratishtha will be done at Ayodhya's Ram Mandir after several rituals and traditions by the temple committee. The star-studded event will be attended by many celebrities from the film industry, sports fraternity, industrialists and politicians as special guests. Special arrangements have been made for the 'Pran Pratishtha' ceremony for over 1,000 guests, out of which 506 guests are state-declared. Here is the complete list of industrialists, who are invited for the iconic consecration ceremony. 
Sensex climbs 496.37 points to settle at 71,683.23 on Friday's trading session, Nifty surges 160.15 points to 21,622.40.
Hindustan Unilever Limited (HUL) reported its third-quarter profit for the financial year 2023-24 on Friday, amounting to Rs 2,509 crore. This reflects a 1.4 per cent increase compared to Rs 2,474 crore in the corresponding quarter of the previous year.
One 97 Communications, the parent company of the fintech firm Paytm, announced a 38 per cent increase in third-quarter revenue attributed to the strong performance of its payments business and robust loan growth in the financial services segment.
The Reserve Bank of India (RBI) has announced a change in the trading hours for money markets on January 22 due to a half-day holiday declared by the government in connection with the consecration of the Ram temple in Ayodhya. On that day, money markets will open at 2:30 pm instead of the usual 9 am.
India's largest telecom operator, Reliance Jio, reported a 12.2 per cent increase in its net profit for the December quarter, reaching Rs 5,208 crore. In the corresponding period of the previous year, the net profit was recorded at Rs 4,638 crore, as indicated in the filing.
Reliance Industries Limited (RIL) reported a 9 per cent rise in its third quarter net profit which stood at Rs 17,265 crore. The revenue from operations of the company stood flat at Rs 2.2 lakh crore.
Ram Mandir Event: The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) will have full-fledged sessions on January 20 (Saturday) as trading will remain closed on Ram Mandir's 'Pran Pratishtha' day on January 22.
The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) have scheduled a special live trading session in the equity F&O (Futures and Options) segment on January 20, 2024.
Ayodhya is all set for the consecration ceremony of Ram Temple on January 22, 2024. Lord Ram pran pratishtha will be done at Ayodhya's Ram Mandir after several rituals and traditions by the temple committee. The star-studded event will be attended by many celebrities from the film industry, sports fraternity, industrialists and politicians as special guests. Special arrangements have been made for the 'Pran Pratishtha' ceremony for over 1,000 guests, out of which 506 guests are state-declared. Here is the complete list of industrialists, who are invited for the iconic consecration ceremony. 
Sensex climbs 496.37 points to settle at 71,683.23 on Friday's trading session, Nifty surges 160.15 points to 21,622.40.
Hindustan Unilever Limited (HUL) reported its third-quarter profit for the financial year 2023-24 on Friday, amounting to Rs 2,509 crore. This reflects a 1.4 per cent increase compared to Rs 2,474 crore in the corresponding quarter of the previous year.
One 97 Communications, the parent company of the fintech firm Paytm, announced a 38 per cent increase in third-quarter revenue attributed to the strong performance of its payments business and robust loan growth in the financial services segment.
The Reserve Bank of India (RBI) has announced a change in the trading hours for money markets on January 22 due to a half-day holiday declared by the government in connection with the consecration of the Ram temple in Ayodhya. On that day, money markets will open at 2:30 pm instead of the usual 9 am.
India's largest telecom operator, Reliance Jio, reported a 12.2 per cent increase in its net profit for the December quarter, reaching Rs 5,208 crore. In the corresponding period of the previous year, the net profit was recorded at Rs 4,638 crore, as indicated in the filing.
Reliance Industries Limited (RIL) reported a 9 per cent rise in its third quarter net profit which stood at Rs 17,265 crore. The revenue from operations of the company stood flat at Rs 2.2 lakh crore.
Ram Mandir Event: The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) will have full-fledged sessions on January 20 (Saturday) as trading will remain closed on Ram Mandir's 'Pran Pratishtha' day on January 22.
Ram Mandir event: In view of the Ayodhya Ram Temple 'Pran Pratishtha' ceremony, Reliance Industries has announced a holiday for all their offices across the country on January 22.
The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) have scheduled a special live trading session in the equity F&O (Futures and Options) segment on January 20, 2024.
Ayodhya is all set for the consecration ceremony of Ram Temple on January 22, 2024. Lord Ram pran pratishtha will be done at Ayodhya's Ram Mandir after several rituals and traditions by the temple committee. The star-studded event will be attended by many celebrities from the film industry, sports fraternity, industrialists and politicians as special guests. Special arrangements have been made for the 'Pran Pratishtha' ceremony for over 1,000 guests, out of which 506 guests are state-declared. Here is the complete list of industrialists, who are invited for the iconic consecration ceremony. 
Sensex climbs 496.37 points to settle at 71,683.23 on Friday's trading session, Nifty surges 160.15 points to 21,622.40.
Hindustan Unilever Limited (HUL) reported its third-quarter profit for the financial year 2023-24 on Friday, amounting to Rs 2,509 crore. This reflects a 1.4 per cent increase compared to Rs 2,474 crore in the corresponding quarter of the previous year.
One 97 Communications, the parent company of the fintech firm Paytm, announced a 38 per cent increase in third-quarter revenue attributed to the strong performance of its payments business and robust loan growth in the financial services segment.
The Reserve Bank of India (RBI) has announced a change in the trading hours for money markets on January 22 due to a half-day holiday declared by the government in connection with the consecration of the Ram temple in Ayodhya. On that day, money markets will open at 2:30 pm instead of the usual 9 am.
India's largest telecom operator, Reliance Jio, reported a 12.2 per cent increase in its net profit for the December quarter, reaching Rs 5,208 crore. In the corresponding period of the previous year, the net profit was recorded at Rs 4,638 crore, as indicated in the filing.
Reliance Industries Limited (RIL) reported a 9 per cent rise in its third quarter net profit which stood at Rs 17,265 crore. The revenue from operations of the company stood flat at Rs 2.2 lakh crore.
Ram Mandir Event: The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) will have full-fledged sessions on January 20 (Saturday) as trading will remain closed on Ram Mandir's 'Pran Pratishtha' day on January 22.
Ram Mandir event: In view of the Ayodhya Ram Temple 'Pran Pratishtha' ceremony, Reliance Industries has announced a holiday for all their offices across the country on January 22.
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