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IndiaTV Business: Google News Feed: Digest for January 10, 2024

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In a notable downturn, the stock market witnessed a significant decline as the Sensex plummeted by 670.93 points, settling at 71,355.22. Correspondingly, the Nifty recorded a substantial fall of 197.80 points, concluding the trading session at 21,513. 

Vistara monitors flight demands amid India-Maldives row

Monday 08 January 2024 12:04 PM UTC+00
Amid the India-Maldives row, airline Vistara said on Monday it will monitor the demand for flights between the two countries as the "situation is evolving right now".

Jaguar Land Rover Q3 wholesales surge 27% to 1.01 lakh units

Monday 08 January 2024 12:14 PM UTC+00
Tata Motors-owned Jaguar Land Rover posted a 27 per cent increase in total wholesales, reaching 1.01 lakh units in the third quarter concluding on December 31, 2023, compared to the same period last year.
The Directorate General of Civil Aviation (DGCA) said on Monday the inspections of Boeing 737-8 Max planes in India were completed satisfactorily. These inspections were ordered following an incident involving an Alaska Airlines aircraft last week. The checks focused on the wing emergency exits, successfully concluding for 32 aircraft.
The mutual fund industry in India experienced a significant resurgence in 2023, with its asset base climbing by nearly Rs 11 lakh crore, breaching the Rs 50 lakh crore mark. This surge was fueled by an optimistic equity market, increased awareness regarding financial stability, and robust economic growth.

Mercedes-Benz to invest Rs 200 crore on new products in 2024

Monday 08 January 2024 12:21 PM UTC+00
German luxury carmaker Mercedes-Benz will invest Rs 200 crore in India this year on new products, manufacturing operations, and digitisation to strengthen its position after posting record sales of 17,408 units in 2023, a top company official said on Monday.
Aviation regulation body DGCA raised weekly rest hours for crew, reduced the number of flight landings to two against six earlier among other revisions under the Flight Duty Time Limitations (FDTL) norms for flight landings. An official statement noted that these are instrumental and the need of the hour to manage fatigue-related aviation safety risks. Airlines are required to comply with the revised norms latest by June 1, it said.
The fuel consumption in India surged to a seven-month high in December to about 20.05 million metric tonnes, according to data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry. 
The prices of home-cooked meals saw a decrease In December driven by a sharp fall in onion prices, according to a report by Crisil's Market Intelligence and Analytics division in its monthly 'Roti, Rice, Rate' report released on Monday.
Mumbai: IndiGo, the largest carrier in India, has raised its seat-selection charges by upto Rs 2000. With the airline hiking the charges, passengers will now need to pay up to Rs 2,000 for selecting front seats with extra legroom. 

Jaguar Land Rover Q3 wholesales surge 27% to 1.01 lakh units

Monday 08 January 2024 12:14 PM UTC+00
Tata Motors-owned Jaguar Land Rover posted a 27 per cent increase in total wholesales, reaching 1.01 lakh units in the third quarter concluding on December 31, 2023, compared to the same period last year.
The Directorate General of Civil Aviation (DGCA) said on Monday the inspections of Boeing 737-8 Max planes in India were completed satisfactorily. These inspections were ordered following an incident involving an Alaska Airlines aircraft last week. The checks focused on the wing emergency exits, successfully concluding for 32 aircraft.
The mutual fund industry in India experienced a significant resurgence in 2023, with its asset base climbing by nearly Rs 11 lakh crore, breaching the Rs 50 lakh crore mark. This surge was fueled by an optimistic equity market, increased awareness regarding financial stability, and robust economic growth.

Mercedes-Benz to invest Rs 200 crore on new products in 2024

Monday 08 January 2024 12:21 PM UTC+00
German luxury carmaker Mercedes-Benz will invest Rs 200 crore in India this year on new products, manufacturing operations, and digitisation to strengthen its position after posting record sales of 17,408 units in 2023, a top company official said on Monday.
Aviation regulation body DGCA raised weekly rest hours for crew, reduced the number of flight landings to two against six earlier among other revisions under the Flight Duty Time Limitations (FDTL) norms for flight landings. An official statement noted that these are instrumental and the need of the hour to manage fatigue-related aviation safety risks. Airlines are required to comply with the revised norms latest by June 1, it said.
The fuel consumption in India surged to a seven-month high in December to about 20.05 million metric tonnes, according to data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry. 
The prices of home-cooked meals saw a decrease In December driven by a sharp fall in onion prices, according to a report by Crisil's Market Intelligence and Analytics division in its monthly 'Roti, Rice, Rate' report released on Monday.
Mumbai: IndiGo, the largest carrier in India, has raised its seat-selection charges by upto Rs 2000. With the airline hiking the charges, passengers will now need to pay up to Rs 2,000 for selecting front seats with extra legroom. 
Stock markets update: Equity benchmark indices climbed in early trade on Tuesday, extending their previous day's rally, amid fresh foreign fund inflows and buying in IT stocks. In the early trade, the 30-share BSE Sensex jumped 493.4 points to 72,156.48. Meanwhile, the Nifty also gained 160.65 points to 21,673.65 points. 
Adani Ports and Special Economic Zone shares rose 5.22 per cent in early trade on Tuesday to hit a 52-week high of Rs 1,229.90 after the company said on Monday that it plans to enter the bond market after a two-year hiatus.

Jaguar Land Rover Q3 wholesales surge 27% to 1.01 lakh units

Monday 08 January 2024 12:14 PM UTC+00
Tata Motors-owned Jaguar Land Rover posted a 27 per cent increase in total wholesales, reaching 1.01 lakh units in the third quarter concluding on December 31, 2023, compared to the same period last year.
Aviation regulation body DGCA raised weekly rest hours for crew, reduced the number of flight landings to two against six earlier among other revisions under the Flight Duty Time Limitations (FDTL) norms for flight landings. An official statement noted that these are instrumental and the need of the hour to manage fatigue-related aviation safety risks. Airlines are required to comply with the revised norms latest by June 1, it said.
The fuel consumption in India surged to a seven-month high in December to about 20.05 million metric tonnes, according to data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry. 
The prices of home-cooked meals saw a decrease In December driven by a sharp fall in onion prices, according to a report by Crisil's Market Intelligence and Analytics division in its monthly 'Roti, Rice, Rate' report released on Monday.
Mumbai: IndiGo, the largest carrier in India, has raised its seat-selection charges by upto Rs 2000. With the airline hiking the charges, passengers will now need to pay up to Rs 2,000 for selecting front seats with extra legroom. 
Stock markets update: Equity benchmark indices climbed in early trade on Tuesday, extending their previous day's rally, amid fresh foreign fund inflows and buying in IT stocks. In the early trade, the 30-share BSE Sensex jumped 493.4 points to 72,156.48. Meanwhile, the Nifty also gained 160.65 points to 21,673.65 points. 
Adani Ports and Special Economic Zone shares rose 5.22 per cent in early trade on Tuesday to hit a 52-week high of Rs 1,229.90 after the company said on Monday that it plans to enter the bond market after a two-year hiatus.
Gujarat Chief Minister Bhupendra Patel has said his government has set a target to contribute 10 per cent to India's GDP and become a USD 500 billion economy by 2026-27.
Tata Starbucks has unveiled plans to significantly expand its footprint in India, aiming to grow its current count of 390 stores to a massive 1,000 stores by 2028. As part of an equal joint venture between the Tata Group and Starbucks, the company is set to accelerate its presence by opening a new store approximately every three days. This expansion strategy will extend to include tier-2 and tier-3 cities, a move signalling their intent to broaden accessibility across India.
Tata Motors shares rose about 2.50 per cent to hit a 52-week high of Rs 809.20 on Tuesday after its wholly-owned subsidiary, Jaguar Land Rover (JLR), posted a 27 per cent rise in wholesales for the third quarter.
Gujarat Chief Minister Bhupendra Patel has said his government has set a target to contribute 10 per cent to India's GDP and become a USD 500 billion economy by 2026-27.
Tata Starbucks has unveiled plans to significantly expand its footprint in India, aiming to grow its current count of 390 stores to a massive 1,000 stores by 2028. As part of an equal joint venture between the Tata Group and Starbucks, the company is set to accelerate its presence by opening a new store approximately every three days. This expansion strategy will extend to include tier-2 and tier-3 cities, a move signalling their intent to broaden accessibility across India.
Tata Motors shares rose about 2.50 per cent to hit a 52-week high of Rs 809.20 on Tuesday after its wholly-owned subsidiary, Jaguar Land Rover (JLR), posted a 27 per cent rise in wholesales for the third quarter.
Private equity investments in real estate declined 26 per cent year-on-year to USD 2.65 billion in the April-December period of this fiscal as foreign and domestic investors were cautious amid global uncertainties, according to Anarock.

JSW Steel crude steel production rises 12 per cent YoY in Q3

Tuesday 09 January 2024 09:49 AM UTC+00
JSW Steel recorded a 12 per cent year-on-year surge in its crude steel production for the third quarter of FY24. The company posted a production of 6.87 million tonnes, marking an 8 per cent rise from the previous quarter, primarily attributed to escalated demand triggered by increased infrastructure projects.
The BSE Sensex rose by 30.99 points to end Tuesday's trading session at 71,386.21, while the Nifty index climbed by 31.85 points to settle at 21,544.85.
White collar hiring in India witnessed a 16 per cent decline in December compared to the year-ago period due to cautious hiring sentiments in the IT, BPO, education, retail, and healthcare sectors, a report said on Tuesday.
An additional 6.4 crore homes are projected to be needed by 2036 due to population growth, according to a report by CREDAI-Liases Foras. The report was released during the New India Summit in Varanasi, jointly presented by real estate apex body CREDAI in collaboration with data analytics firm Liases Foras.
The Directorate General of Civil Aviation (DGCA) said on Tuesday that 40 Boeing 737 Max planes of domestic carriers have been inspected for possible loose hardware, and a washer was missing in one aircraft where rectification was done. Akasa Air, Air India Express, and SpiceJet collectively operate 40 Boeing 737 Max planes within their fleets.
Gujarat Chief Minister Bhupendra Patel has said that Gujarat International Finance Tec (GIFT) City will become one of the world's premier international financial centres in the coming years. He mentioned plans for significant infrastructure expansion, projecting a land area of around 3,400 acres, and the development of a riverfront featuring international-level retail, recreation, and entertainment zones.
Gujarat Chief Minister Bhupendra Patel has said his government has set a target to contribute 10 per cent to India's GDP and become a USD 500 billion economy by 2026-27.
Tata Starbucks has unveiled plans to significantly expand its footprint in India, aiming to grow its current count of 390 stores to a massive 1,000 stores by 2028. As part of an equal joint venture between the Tata Group and Starbucks, the company is set to accelerate its presence by opening a new store approximately every three days. This expansion strategy will extend to include tier-2 and tier-3 cities, a move signalling their intent to broaden accessibility across India.
Tata Motors shares rose about 2.50 per cent to hit a 52-week high of Rs 809.20 on Tuesday after its wholly-owned subsidiary, Jaguar Land Rover (JLR), posted a 27 per cent rise in wholesales for the third quarter.
Private equity investments in real estate declined 26 per cent year-on-year to USD 2.65 billion in the April-December period of this fiscal as foreign and domestic investors were cautious amid global uncertainties, according to Anarock.

JSW Steel crude steel production rises 12 per cent YoY in Q3

Tuesday 09 January 2024 09:49 AM UTC+00
JSW Steel recorded a 12 per cent year-on-year surge in its crude steel production for the third quarter of FY24. The company posted a production of 6.87 million tonnes, marking an 8 per cent rise from the previous quarter, primarily attributed to escalated demand triggered by increased infrastructure projects.
The BSE Sensex rose by 30.99 points to end Tuesday's trading session at 71,386.21, while the Nifty index climbed by 31.85 points to settle at 21,544.85.
White collar hiring in India witnessed a 16 per cent decline in December compared to the year-ago period due to cautious hiring sentiments in the IT, BPO, education, retail, and healthcare sectors, a report said on Tuesday.
An additional 6.4 crore homes are projected to be needed by 2036 due to population growth, according to a report by CREDAI-Liases Foras. The report was released during the New India Summit in Varanasi, jointly presented by real estate apex body CREDAI in collaboration with data analytics firm Liases Foras.
The Directorate General of Civil Aviation (DGCA) said on Tuesday that 40 Boeing 737 Max planes of domestic carriers have been inspected for possible loose hardware, and a washer was missing in one aircraft where rectification was done. Akasa Air, Air India Express, and SpiceJet collectively operate 40 Boeing 737 Max planes within their fleets.
Gujarat Chief Minister Bhupendra Patel has said that Gujarat International Finance Tec (GIFT) City will become one of the world's premier international financial centres in the coming years. He mentioned plans for significant infrastructure expansion, projecting a land area of around 3,400 acres, and the development of a riverfront featuring international-level retail, recreation, and entertainment zones.
Gujarat Chief Minister Bhupendra Patel has said his government has set a target to contribute 10 per cent to India's GDP and become a USD 500 billion economy by 2026-27.
Tata Starbucks has unveiled plans to significantly expand its footprint in India, aiming to grow its current count of 390 stores to a massive 1,000 stores by 2028. As part of an equal joint venture between the Tata Group and Starbucks, the company is set to accelerate its presence by opening a new store approximately every three days. This expansion strategy will extend to include tier-2 and tier-3 cities, a move signalling their intent to broaden accessibility across India.
Private equity investments in real estate declined 26 per cent year-on-year to USD 2.65 billion in the April-December period of this fiscal as foreign and domestic investors were cautious amid global uncertainties, according to Anarock.

JSW Steel crude steel production rises 12 per cent YoY in Q3

Tuesday 09 January 2024 09:49 AM UTC+00
JSW Steel recorded a 12 per cent year-on-year surge in its crude steel production for the third quarter of FY24. The company posted a production of 6.87 million tonnes, marking an 8 per cent rise from the previous quarter, primarily attributed to escalated demand triggered by increased infrastructure projects.
The BSE Sensex rose by 30.99 points to end Tuesday's trading session at 71,386.21, while the Nifty index climbed by 31.85 points to settle at 21,544.85.
White collar hiring in India witnessed a 16 per cent decline in December compared to the year-ago period due to cautious hiring sentiments in the IT, BPO, education, retail, and healthcare sectors, a report said on Tuesday.
An additional 6.4 crore homes are projected to be needed by 2036 due to population growth, according to a report by CREDAI-Liases Foras. The report was released during the New India Summit in Varanasi, jointly presented by real estate apex body CREDAI in collaboration with data analytics firm Liases Foras.
The Directorate General of Civil Aviation (DGCA) said on Tuesday that 40 Boeing 737 Max planes of domestic carriers have been inspected for possible loose hardware, and a washer was missing in one aircraft where rectification was done. Akasa Air, Air India Express, and SpiceJet collectively operate 40 Boeing 737 Max planes within their fleets.
Gujarat Chief Minister Bhupendra Patel has said that Gujarat International Finance Tec (GIFT) City will become one of the world's premier international financial centres in the coming years. He mentioned plans for significant infrastructure expansion, projecting a land area of around 3,400 acres, and the development of a riverfront featuring international-level retail, recreation, and entertainment zones.

India, Sri Lanka discuss UPI payment system's early launch

Tuesday 09 January 2024 05:24 PM UTC+00
Six months after it was announced by the heads of both countries, India has discussed the early launch of the UPI payment system with Sri Lanka and reiterated its support in the cash-strapped island nation's debt restructuring process.
Gujarat Chief Minister Bhupendra Patel has said his government has set a target to contribute 10 per cent to India's GDP and become a USD 500 billion economy by 2026-27.
Tata Starbucks has unveiled plans to significantly expand its footprint in India, aiming to grow its current count of 390 stores to a massive 1,000 stores by 2028. As part of an equal joint venture between the Tata Group and Starbucks, the company is set to accelerate its presence by opening a new store approximately every three days. This expansion strategy will extend to include tier-2 and tier-3 cities, a move signalling their intent to broaden accessibility across India.
Private equity investments in real estate declined 26 per cent year-on-year to USD 2.65 billion in the April-December period of this fiscal as foreign and domestic investors were cautious amid global uncertainties, according to Anarock.

JSW Steel crude steel production rises 12 per cent YoY in Q3

Tuesday 09 January 2024 09:49 AM UTC+00
JSW Steel recorded a 12 per cent year-on-year surge in its crude steel production for the third quarter of FY24. The company posted a production of 6.87 million tonnes, marking an 8 per cent rise from the previous quarter, primarily attributed to escalated demand triggered by increased infrastructure projects.
The BSE Sensex rose by 30.99 points to end Tuesday's trading session at 71,386.21, while the Nifty index climbed by 31.85 points to settle at 21,544.85.
White collar hiring in India witnessed a 16 per cent decline in December compared to the year-ago period due to cautious hiring sentiments in the IT, BPO, education, retail, and healthcare sectors, a report said on Tuesday.
An additional 6.4 crore homes are projected to be needed by 2036 due to population growth, according to a report by CREDAI-Liases Foras. The report was released during the New India Summit in Varanasi, jointly presented by real estate apex body CREDAI in collaboration with data analytics firm Liases Foras.
The Directorate General of Civil Aviation (DGCA) said on Tuesday that 40 Boeing 737 Max planes of domestic carriers have been inspected for possible loose hardware, and a washer was missing in one aircraft where rectification was done. Akasa Air, Air India Express, and SpiceJet collectively operate 40 Boeing 737 Max planes within their fleets.
Gujarat Chief Minister Bhupendra Patel has said that Gujarat International Finance Tec (GIFT) City will become one of the world's premier international financial centres in the coming years. He mentioned plans for significant infrastructure expansion, projecting a land area of around 3,400 acres, and the development of a riverfront featuring international-level retail, recreation, and entertainment zones.

India, Sri Lanka discuss UPI payment system's early launch

Tuesday 09 January 2024 05:24 PM UTC+00
Six months after it was announced by the heads of both countries, India has discussed the early launch of the UPI payment system with Sri Lanka and reiterated its support in the cash-strapped island nation's debt restructuring process.
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