SHFL opens new branch in Hyderabad, expanding presence in Tier-2/3 cities. MD expects real-estate growth to boost home finance biz in Andhra/Telengana. Disbursements of ₹400 crore last year, 20% growth expected this year. SHFL to foray into affordable-housing, open 10 branches & hire 50-75 people by 2024. June quarter net profit of ₹57 crore on disbursements of ₹1,104 crore.
JP Morgan’s move to include Indian government bonds in its global emerging market bond indices could potentially lower the country’s sovereign borrowing costs, help finance the current account deficit and free up liquidity for domestic financiers to deploy in more productive assets, the Chief Economic Advisor V Anantha Nageswaran said on Friday.
सोने और चांदी के दाम में आज यानी शुक्रवार को तेजी देखने को मिली है. इंडिया बुलियन एंड ज्वैलर्स एसोसिएशन के मुताबिक, गुरुवार शाम की तुलना में आज यानी 22 सितंबर , 2023 की सुबह सोना और चांदी महंगा हुआ है.
US-based Micron Technology, Inc. to break ground on $2.75B semiconductor plant in Gujarat. Union and State govts providing 70% subsidies. Plant to start output by Dec 2024. Govt working to facilitate multinationals working with Indian startups. Draft of import management system for IT hardware to be shared with reps. Aim to increase local hardware demand from 8-10% to 65-70% in 4 yrs.
.ndia's Q1 FY24 economic figures tell a nuanced story: nominal growth rate of 8%, real growth rate of 7.8%, agriculture sector growing at 3.5%, services industry at 12.2%. However, discrepancies in income/expenditure approaches, inflationary adjustments, and tax revenue suggest a more restrained outlook. Critical approach needed to assess trajectory ahead.
ICL sells 73.75 acres in Andhra Pradesh for ₹70 cr to improve liquidity and meet capex. N. Srinivasan, MD, hopes to improve performance, despite input cost increase and competition. Company needs ₹150 cr working capital, ₹200 cr capex. New cement mill in TN, waste heat recovery system in AP to reduce variable cost.
Details of the Ministry of Information and Broadcasting’s efforts to create a National Broadcasting Policy emerged on Thursday as the Telecom Regulatory Authority of India (TRAI) consulted stakeholders on the shape such a policy should take. “The Policy may provide a common approach for licenses, oversight, and compliances,” TRAI said in its paper, indications that the government is seeking to bring further parity in how digital and legacy mediums like television and OTT streaming are regulated.
The Finance Ministry has dismissed “critical voices” about household savings in the country falling to a multi-decade low, arguing that households are now adding lesser financial assets than in the past because they have started taking loans to buy real assets such as homes and vehicles which is “not a sign of distress but of confidence in their future employment and income prospects”. Data released by the Reserve Bank of India this week showed net household financial savings dropped to 5.1% of the GDP in 2022-23. “Vehicle loans have been growing at double digits since April 2022 and more than 20% since September 2022. The household sector is not in distress, clearly. They are buying vehicles and homes on mortgages,” the Ministry averred.
Petrol-Diesel Price Today: देश की राजधानी दिल्ली में आज (गुरुवार), 21 सितंबर को भी एक लीटर पेट्रोल की कीमत 96.72 रुपये और एक लीटर डीजल का भाव 89.62 रुपये पर ही टिका है. इसके साथ ही देश की आर्थिक राजधानी मुंबई की बात करें तो यहां पेट्रोल 106.31 रुपये प्रति लीटर और डीजल 94.27 रुपये प्रति लीटर पर स्थिर है.
India mulls mandating drugmakers to audit raw material suppliers annually to ensure quality, patient safety. Compliance with GMP to avoid mix-ups, contamination, errors and build trust. Drugmakers to report faulty manufacture, product deterioration, serious quality problems to LA. Prompt and effective product recall system to be implemented.
AbhiBus, a bus ticket booking service provider, expects to double revenue from ticket sales at a pan India level and quadruple in Tamil Nadu. With actor Silambarasan T.R. as brand ambassador, the firm has 3,000 operators with 1.20 lakh buses and plans to onboard 350-400 operators with 5,000 buses. Ixigo, the parent company, may go for a public issue next year.
Akasa Air, an Indian budget carrier, is flying less and taking legal action against pilots who quit without serving their mandatory notice period. This has caused their market share to slip to 4.2% in Aug. The airline is on track to announce a three-digit aircraft order and has been designated by MOCA as an International Scheduled operator. Shares of rival IndiGo rose 0.5% after the report.
ED attaches ₹71.48 crore immovable properties of Hindustan Infracon (India) Private Limited for alleged fraud of ₹199 crore. Attached assets include non-agricultural land parcels and residential properties located in Mysore, Bengaluru South and Anantapur. ED initiated investigation on basis of FIRs registered by Karnataka police against Hindustan Infracon and its directors. Accused persons allegedly failed to return ₹199 crore to investors. Funds diverted and utilised for purchase of immovable properties, cash withdrawal and personal gains.