Thursday, November 28
People can send their Rs 2,000 banknotes to specified regional offices of the Reserve Bank through the insured post for credit in their bank accounts. This is a hassle-free option for the people who are away from the regional offices of the Reserve Bank. Besides, the RBI is offering TLR (Triple Lock Receptacle) form to people for a deposit of Rs 2,000 banknotes in their bank account. Both the options of TLR and insured post are highly secured, and there should not be any fear in the mind of the public relating to these options, he said.
India has become the global leader in IPOs in 2023, with 21 IPOs launched in the third quarter, compared to four in the same quarter last year. Funds raised in Q3 2023 reached $1,770 million, a 376% increase from Q3 2022. The SME sector also showed progress, raising $165.76 million through 48 IPOs. The top three IPOs in terms of funds were RR Kable Ltd, Concord Biotech Ltd, and SAMHI Hotels Ltd. The sectors driving this IPO boom were diversified industrial products, consumer products and retail, and technology.
Manufacturing activities in India decelerated in October as new orders increased at the slowest pace in a year, triggering a softer rise in output and employment, a monthly survey said on Wednesday. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) slipped from 57.5 in September to 55.5 in October, the slowest rate of expansion since February. The October PMI data pointed to an improvement in overall operating conditions for the 28th straight month. In PMI parlance, a print above 50 means expansion, while a score below 50 indicates contraction.
More than 50 industry groups have signed MoUs worth Rs 20,000 crores during a road show organized in Ahmedabad for the Global Investors Summit in Uttarakhand. Chief Minister Pushkar Singh Dhami invited investors to the summit and highlighted the state's development initiatives and policies. The road show showcased the investment opportunities in Uttarakhand, emphasizing the balance between ecology and economy. The signed MoUs include companies such as Sheetal Group, Astral Pipes, and Amul, among others.
Coca-Cola India's consolidated profit for FY2022-23 increased by 57.15% to Rs 722.44 crore, while revenue from operations jumped 45% to Rs 4,521.31 crore. Expenses on advertising and sales promotion also rose by 52.05% to Rs 1,122.11 crore. The company attributed the growth to volume growth, price-mix, and an increase in sales, particularly in rural regions. Coca-Cola India has increased its marketing spending and focused on digital-first engagement with consumers.
Indian gold demand went up by 10% at 210.2 tonne in the July-September period as against 191.7 tonne a year ago. In value terms, India's Q3 2023 demand was Rs 1,88,400 crore, up by 28% as compared to Q3 2022 (Rs 1,47,220 crore), according to data from the World Gold Council (WGC) released on Tuesday. Total jewellery demand in India for Q3 2023 was up by 7% at 155.7 tonne as compared to Q3 2022 (146.2 tonne). Investment demand for gold went up by 20% at 54.5 tonne in July-September.
The Indian government has approved 110 out of 111 applications for the import of laptops, computers, and other IT hardware products. Companies such as Dell, HP, Lenovo, and Samsung have received approvals. The new license regime is applicable to laptops, personal computers (including tablet computers), microcomputers, large or mainframe computers, and certain data processing machines to ensure India's trusted supply chain. The system applies to laptops, personal computers, and data processing machines to ensure a trusted supply chain in India.
The Indian government has approved 110 out of 111 applications for the import of laptops, computers, and other IT hardware products. Companies such as Dell, HP, Lenovo, and Samsung have received approvals. The new license regime is applicable to laptops, personal computers (including tablet computers), microcomputers, large or mainframe computers, and certain data processing machines to ensure India's trusted supply chain. The system applies to laptops, personal computers, and data processing machines to ensure a trusted supply chain in India.
The growth in India's infrastructure sector slowed to a four-month low in September, but remained strong overall. The core sector, which includes coal, crude oil, natural gas, and other industries, grew by 8.1% in September, compared to 12.5% in the previous month. Crude oil was the only sector that contracted, while coal saw double-digit growth. The core industries account for 41% of the country's industrial production index, and a strong outcome is expected for the overall industrial production data.
