Nifty Hits All-Time High After Upbeat Growth Data, Sensex Up 300 Points

Nifty hit a fresh record high on Friday, as faster-than-expected economic growth in the September-quarter added to optimism over the global interest rate outlook.

The NSE Nifty 50 index rose as much as 0.52% to 20,238.45, a new record high, while the S&P BSE Sensex was up 0.44% at 67,286.16, as of 9.35 am.

The Indian economy expanded 7.6% in the September-quarter, faster than the 6.8% forecast in a Reuters poll of economists and the Reserve Bank of India's estimate of 6.5%, led by manufacturing growth.

"India's growth outlook remains positive, with various capex initiatives of the government likely to trigger consumption at the bottom of the pyramid," Pramod Gubbi, founder of Marcellus Investment Management, said.

The expectation that we are at the peak of the interest rate cycle in the US has facilitated the move of flows towards more risky assets like emerging equities, especially India, Gubbi added.

Nifty and Sensex posted their best month in 2023 in November, aided by the return on foreign portfolio investor (FPI) inflows.

FPIs snapped a two-month selling streak in November, adding stocks worth 90 billion rupees ($1.1 billion).

Wall Street equity indexes rose overnight, with the Dow Jones Industrial Average clocking its best month since October 2022, after consumer spending data signalled cooling demand, boosting the rate outlook.

Meanwhile, exit polls for state elections showed a narrow advantage for Bharatiya Janata Party in the key states of Rajasthan and Madhya Pradesh, while the Congress is seen to be leading in Chhattisgarh and Telangana.

"A decisive BJP win will reinforce consensus that the party is on the front-foot for 2024 general elections and likely add another leg of rally to markets," said three analysts led by Madhavi Arora, lead economist at Emkay Global Financial Services.

India's general elections are due early next year.

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Nifty Hits All-Time High After Upbeat Growth Data, Sensex Up 300 Points

Nifty hit a fresh record high on Friday, as faster-than-expected economic growth in the September-quarter added to optimism over the global interest rate outlook.

The NSE Nifty 50 index rose as much as 0.52% to 20,238.45, a new record high, while the S&P BSE Sensex was up 0.44% at 67,286.16, as of 9.35 am.

The Indian economy expanded 7.6% in the September-quarter, faster than the 6.8% forecast in a Reuters poll of economists and the Reserve Bank of India's estimate of 6.5%, led by manufacturing growth.

"India's growth outlook remains positive, with various capex initiatives of the government likely to trigger consumption at the bottom of the pyramid," Pramod Gubbi, founder of Marcellus Investment Management, said.

The expectation that we are at the peak of the interest rate cycle in the US has facilitated the move of flows towards more risky assets like emerging equities, especially India, Gubbi added.

Nifty and Sensex posted their best month in 2023 in November, aided by the return on foreign portfolio investor (FPI) inflows.

FPIs snapped a two-month selling streak in November, adding stocks worth 90 billion rupees ($1.1 billion).

Wall Street equity indexes rose overnight, with the Dow Jones Industrial Average clocking its best month since October 2022, after consumer spending data signalled cooling demand, boosting the rate outlook.

Meanwhile, exit polls for state elections showed a narrow advantage for Bharatiya Janata Party in the key states of Rajasthan and Madhya Pradesh, while the Congress is seen to be leading in Chhattisgarh and Telangana.

"A decisive BJP win will reinforce consensus that the party is on the front-foot for 2024 general elections and likely add another leg of rally to markets," said three analysts led by Madhavi Arora, lead economist at Emkay Global Financial Services.

India's general elections are due early next year.

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GDP Grew By 7.6% In Q2 Compared To 7.8% In Q1

India's economy grew 7.6 per cent in the September quarter as against 6.2 per cent in the year-ago period, according to official data released on Thursday.

India remains the fastest-growing major economy, as China's GDP growth in the July-September quarter this year was 4.9 per cent.

As per the National Statistical Office (NSO) data, the GVA (Gross Value Added) of the agriculture sector recorded a 1.2 per cent growth, down from 2.5 per cent in the July-September quarter of 2022-23.

The GVA growth of the manufacturing sector accelerated to 13.9 per cent in the second quarter of the current fiscal against a decline of 3.8 per cent a year ago.

The growth in Gross Domestic Product (GDP) during the April-September period in 2023-24 stood at 7.7 per cent compared to 9.5 per cent in the first half of the last financial year.

The GDP growth in the first quarter of the current fiscal remained unchanged at 7.8 per cent.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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GDP Grew By 7.6% In Q2 Compared To 7.8% In Q1

India's economy grew 7.6 per cent in the September quarter as against 6.2 per cent in the year-ago period, according to official data released on Thursday.

India remains the fastest-growing major economy, as China's GDP growth in the July-September quarter this year was 4.9 per cent.

As per the National Statistical Office (NSO) data, the GVA (Gross Value Added) of the agriculture sector recorded a 1.2 per cent growth, down from 2.5 per cent in the July-September quarter of 2022-23.

The GVA growth of the manufacturing sector accelerated to 13.9 per cent in the second quarter of the current fiscal against a decline of 3.8 per cent a year ago.

The growth in Gross Domestic Product (GDP) during the April-September period in 2023-24 stood at 7.7 per cent compared to 9.5 per cent in the first half of the last financial year.

The GDP growth in the first quarter of the current fiscal remained unchanged at 7.8 per cent.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Nandan Nilekani, Nikhil Kamath On Forbes Asia Heroes Of Philanthropy List

Nandan Nilekani, co-founder of Infosys, KP Singh, chairman emeritus at DLF, and Nikhil Kamath, co-founder of Zerodha, have been named on the 17th edition of Forbes Asia's Heroes of Philanthropy list released today.

The unranked list "highlights business leaders who are donating from their fortunes and giving personal time and attention to their select causes", Forbes said in a press release.

The annual list, which spotlights 15 philanthropists, does not include corporate philanthropy except for privately-held companies where the individual is a majority owner.

Nandan Nilekani, co-founder and chairman of tech giant Infosys, have made it to the list for donating Rs 3.2 billion (USD 38 million) to his alma mater IIT Bombay in June, Forbes said, adding that the gift will be made over a period of five years.

This was to mark his 50-year association with the technology institute, where he studied electrical engineering as an undergraduate.

Since 1999, Mr Nilekani has given Rs 4 billion in total to the institute. In the past year, he donated an additional Rs 1.6 billion to educational causes.

Mr Singh, who stepped down as chairman of DLF in 2020, in August divested his remaining direct stake in the real estate firm to fund philanthropic causes, Forbes said citing the company.

He garnered Rs 7.3 billion from the disposal of his 0.59 per cent shareholding in the Delhi-based property developer.

The 92-year-old Singh, who has an estimated fortune of USD 14 billion, splits his time between London and Dubai.

After previously setting up the K.P. Singh Foundation Trust and the KP Singh Charitable Foundation Trust, Singh launched the KP Singh Foundation in 2020.

Mr Kamath, who made it into the Forbes' philanthropy list, joined the Giving Pledge initiative in June.

In his pledge letter, the 37-year-old co-founder of discount broking firm Zerodha, wrote he is mainly interested in climate change, energy, education, and health as well as the foundation's mission to create a more equitable society.

Mr Kamath's YouTube podcast series 'WTF is' has been giving away up to Rs 10 million (USD 120,000) -- contributed by Kamath and business leaders who are guests on his show -- to a charity picked by audience members, Forbes said.

Mr Kamath, who has an estimated net worth of USD 1.1 billion, plans to increase episode donations to Rs 40 million, it added.
 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Nandan Nilekani, Nikhil Kamath On Forbes Asia Heroes Of Philanthropy List

Nandan Nilekani, co-founder of Infosys, KP Singh, chairman emeritus at DLF, and Nikhil Kamath, co-founder of Zerodha, have been named on the 17th edition of Forbes Asia's Heroes of Philanthropy list released today.

The unranked list "highlights business leaders who are donating from their fortunes and giving personal time and attention to their select causes", Forbes said in a press release.

The annual list, which spotlights 15 philanthropists, does not include corporate philanthropy except for privately-held companies where the individual is a majority owner.

Nandan Nilekani, co-founder and chairman of tech giant Infosys, have made it to the list for donating Rs 3.2 billion (USD 38 million) to his alma mater IIT Bombay in June, Forbes said, adding that the gift will be made over a period of five years.

This was to mark his 50-year association with the technology institute, where he studied electrical engineering as an undergraduate.

Since 1999, Mr Nilekani has given Rs 4 billion in total to the institute. In the past year, he donated an additional Rs 1.6 billion to educational causes.

Mr Singh, who stepped down as chairman of DLF in 2020, in August divested his remaining direct stake in the real estate firm to fund philanthropic causes, Forbes said citing the company.

He garnered Rs 7.3 billion from the disposal of his 0.59 per cent shareholding in the Delhi-based property developer.

The 92-year-old Singh, who has an estimated fortune of USD 14 billion, splits his time between London and Dubai.

After previously setting up the K.P. Singh Foundation Trust and the KP Singh Charitable Foundation Trust, Singh launched the KP Singh Foundation in 2020.

Mr Kamath, who made it into the Forbes' philanthropy list, joined the Giving Pledge initiative in June.

In his pledge letter, the 37-year-old co-founder of discount broking firm Zerodha, wrote he is mainly interested in climate change, energy, education, and health as well as the foundation's mission to create a more equitable society.

Mr Kamath's YouTube podcast series 'WTF is' has been giving away up to Rs 10 million (USD 120,000) -- contributed by Kamath and business leaders who are guests on his show -- to a charity picked by audience members, Forbes said.

Mr Kamath, who has an estimated net worth of USD 1.1 billion, plans to increase episode donations to Rs 40 million, it added.
 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Most Reliable Vendors To Buy Replica Rolex Super Clone Watches

Looking for a watch that is an exact copy of a real Rolex? Rolex replica watches are in high demand these days, mainly because they are impossible to identify and can be worn anywhere stress-free. The best part is that they perfectly fit everyone's budget, and you do not have to save for years to get a wrist piece you have been drooling over.

Watches are a lot more than timepieces; they reflect class, sophistication, and style. The luxury watch brands cost a hefty amount to create timeless watch pieces with an aura that shines forever. The price they charge is actually for the charisma, precision, and styling that cheap watch companies can never create. Fortunately, the same watches are now available in A+ replicas and unless you tell someone about them, it is impossible to find out they are not real.

The only problem here is finding a place to order your favorite Rolex replica online. The replica industry is booming, and there are thousands of websites that sell these copies. However, not all of these deliver the quality and class they show in pictures. And it is also possible to come across frauds and scams if you are not paying close attention to your online order.

Here in this article, you will get to know two vendors that deal with the finest quality Rolex replica watches. You can spend money here without worrying about anything. Let's move next and find out about these vendors and the reasons they have our trust.

Best Websites To Order Rolex Replica Watches

Here are two places that you can trust to buy Rolex replica watches in super clone quality.

1) PrestigeWatches.co

2) IconicReplicas.co

Prestigewatches.co (Number One Rolex Replica Seller - Highly Recommended)

Prestigewatches.co is a true reflection of its name, as it deals with the most prestigious replica designs from luxury brands. Not only Rolex, you can find almost all famous watches here, in super clones, and only an expert can spot them as fake.

Most people think of replica watches to be way cheaper than real watches, which is not true. For example, the Rolex replica here starts from $799, which is definitely not cheap. But do not worry about spending this money on a watch, because the watch you will get in the mail will justify this price. There is absolutely no compromise on the quality, looks, and materials. The watches here look the same, weigh the same, and carry the same sensation that real watches offer.

The website is super easy to navigate, and there are plenty of options to explore. It is even possible to get confused among so many choices, and according to most customer reviews, they ended up buying more than one watch, because it is too hard to resist the offers.

On top of that, customer satisfaction is a high priority here. There is a whole team of employees to facilitate customers. You can ask any question, or take help whenever needed. The customer support is only one call and message away.

Click Here to Browse all the Hot-Selling Rolex Replica Models on PrestigeWatches

Here are some other notable features that make it a legitimate place to buy Rolex replicas online.

Huge variety in watches: You can find all hit models, celebrity-endorsed watches, and even the rare editions here that no other seller has. The quality is unmatched, and the resemblance with real designs is uncanny. If you are looking for a statement watch, there are good chances you will find something here, for sure.

Esthetic Charm: You simply cannot ignore the charm and allure the watches here show. The attention to detail is admirable, and even the slightest details are copied.

Versatile Watches: Not just the Rolex, you can find a lot of other watch brands here that could grab your attention. You can even look for certain types of watches to complete your looks i.e., formal, casual, sporty watches.

Complete Accessories: The watches purchased from here come with real-like boxes that real brands offer. You will even get the cards, and accessories too, which make it the whole deal.

Latest Designs Added: There is no ‘stop' here, and you will see the website stocking the latest designs every now and then. It includes watches that are recently launched and those worn by a celebrity at a certain event.

Options in Quality: Every watch sold here comes in two variants, one is AAA+ and the other is a super clone. The AAA+ models are low priced and use a little lighter materials than super clone watches, which are 100% true copies of the actual designs.

Affordable Prices: Compared to the real watches, the Rolex replicas here are very budget-friendly. Of course, they are not super cheap, because good quality comes for a price. But they are the true value of your hard-earned money.

Fast Delivery System: The orders made through this website are processed and delivered on a priority basis. You will get your parcel at your doorstep within a few days. Damages during the delivery are also covered and handled by the seller.

24/7 Support: You can get direct access to the customer support team anytime you want. There are various ways to contact them, including phone, message, email, and WhatsApp. Choose any that is convenient for you.

Multiple Payment Options: There are so many payment modes to facilitate everyone. It includes Amex, Visa, Mastercard, Crypto, and bank transfer. Choose the one you prefer.

Customer Reviews: There are thousands of positive customer reviews of the watches purchased from here. You can read them to know what to expect in your parcel. You may also find pictures of real pictures here, that give you a good idea of the real vs replica watches.

Click Here to Order Your Favorite Rolex Model from PrestigeWatches.co

And that is not all. There are even more to put your trust here, for example;

● There is no compromise on quality, and if any watch fails to fulfill this quality, the customer is entitled to a refund. Within 30 days of the purchase, any customer can return the watch in its original pack and get his money back without any questions.

● The watches sold here have a one-year long check warranty. During this time, any mechanical or technical issue with your watch will be dealt with by the company. You are required to inform customer support about such issues and they will take the lead.

● Under every watch, you will find the complete description, including dimensions, weight, and other necessary details that could help you decide on it. You can also read the customer reviews on a watch you are considering for a better idea.

● The website uses the highest security levels for all online transactions. It ensures the customer data is protected and there is no infringement, you can share your personal details including banking information, contact number, and address without fearing a privacy breach.

● There is an option to exchange your watch for another one if you do not like your watch. The website can charge an exchange fee, and you will be asked to return the watch while the company delivers your new order.

● The customers can share creative ideas, plans, proposals, or suggestions through email or mail. Also, there is an option to post a review under any product on the website, and these reviews are open to the public.

● If you change your mind and wish to cancel your order, the company accepts that too. You are required to contact the customer support team as soon as possible, and the processing department will cancel it for you. If it is already dispatched you can use the refund option that is still valid on your order.

These reasons are enough to believe in Prestigewatches.co. If you have more questions, feel free to contact me through the following. 

Official Website: www.prestigewatches.co

Email: prestigewatches.cs@gmail.com

Phone: +1 (520) 379-2909

Whatsapp: +44 7462 270102

(TOP RECOMMENDED) Click Here To Buy Super Clone Rolex Replica From PrestigeWatches.co

IconicReplicas.co (Most Affordable Rolex Replica Seller)

Looking for a low-price Rolex replica? IconicReplicas.co offers you the watches you love for the best price. This seller has top-quality luxury watch replicas from Rolex. However, it has a limited stock, and there is not much diversity in styles, brands, and watches. It is suitable for someone on a limited budget, probably looking for a watch to go with a certain look, i.e., formal attire. If you need a daily wear watch, or a watch that could last years, you may need to look for better quality replica watches.

The price is much cheaper than most replica vendors. The quality you get for this price is good, but it is not as good as master clone watches. The after-sale services are impressive, and the website even offers refunds against unsatisfactory orders.

Always ask for real product pictures before placing an order so that you have an idea of the watch you will receive. For more questions, talk to a customer support representative and confirm your order.

What to Look for in a Replica Watch Vendor?

While the replica industry is blooming, it gives a chance to fake sellers to be among the race. Unfortunately, people can fall for these scams and lose their money or receive something extremely inferior in the name of a replica watch.

There are several things that could help you determine the status of a replica watch seller. There are some websites that you can trust with eyes closed, but they may be out of budget for many. It is always good to have middle-range options, offering the best quality for the price they are charging.

Here are a few things that you must check before trusting an online vendor to buy Rolex replicas online.

● Materials: ideally, a good quality replica watch is made with premium materials. It is to give a similar look to the original. If a company is using a substandard material in making, you cannot expect much from it.

● Post-sale facilities: a legit watch seller has reliable after-sale services. It includes refunds, returns, and exchanges. You need to get information on all the post-sale services before placing an order or you may regret it later.

● Secure payments: it is common for some websites to leak customer data because they do not want to spend money on data protection and tech teams. Always check these things beforehand, or you could suffer a major financial scam by providing your sensitive information to an online seller.

● Shipping services: there are vendors with limited delivery areas and it is possible that a vendor you are considering would not be shipping at your location. Check these things before placing an order, or you can suffer from inconvenience. Double-check if you are an international customer because most sellers only operate locally.

● Testimonials: Reading the customer reviews can clear the picture for you. Most customers talk about their experiences in terms of sales, returns, and exchange. Some of them share their order pictures too, comparing it with the sample picture shown on the website. These things help determine the legitimacy of the seller.

Are Replica Watches Cheap?

Replica watches come in different price ranges, and depending on your budget, they can be cheap or expensive. There are sellers that barely replicate the real watches and sell these watches for a very low price, i.e., $200 or $300.

On the other hand, there are some premium rolex replica sellers that deal with super-clone watches. Mind it, these super clones are definitely not cheap, and you can expect them to be at least $1000. Some sellers offer discounts and offers that could reduce this price. Overall, you need to have a good budget even to buy a Rolex replica watch.

What is The Difference Between Super Clones and A+++ Copy?

You may see replica watches under different names such as Master Copy, A+++ Copy, Super Clone, etc. The AAA+ copy means a budget-friendly replica, this is an exact copy and feels very much real. But it uses different materials and may not be identical to the actual design. On the contrary, a super clone is an exact replica, which means there is no difference, and they are very hard to identify even by the watch experts. They cost much more than fine copies, master copies, A+ copies, and A+++ copies. They carry the Swiss ETA movements, and the inside movement is the same as the real watch.

If you have a good budget, the Super Clone copy is better than any other type of replica watch. Pay attention to these details and talk to a customer support representative if you are confused or unclear about something.

Best Rolex Replica: Where to Buy and FAQs

Here are some extra questions that could change your mind on replica watches.

Does replica mean fake watches?

Yes, replica watches are sometimes called fake watches, mainly because they are not manufactured or sold by the actual manufacturing company. They are fine copies but cost much less than the real ones. Yet there is no compromise on quality, and you can get a super fine replica watch that could last years, with proper care.

Why is it called a Rolex replica?

These watches are called Rolex replicas because they imitate an original design in the best possible way. Almost all best-selling watches are now available in replica versions that are inexpensive and very finely copied. These replica watches are not produced by actual sellers and are usually made by independent companies.

Is buying a replica watch online safe?

Yes, buying replica watches online is safe, just like other items. But you must buy the watches from a reliable vendor like PrestigeWatches.co. Trusting untrustworthy sellers can increase the risk of scams and frauds, therefore it should be avoided.

Is it wise to spend on replica watches?

Replica watches are super budget-friendly and totally worth the price if you are buying a super clone. You can surely spend money on a replica watch, knowing that it is made of high-quality materials, polished and finished, and it would last years.

How to clean replica watches?

Replica watches should be cleaned from time to time, especially when they come in contact with dust, liquids, or anything that attaches to the surface. Keep them safe from moisture, heat, and water. Store them in the box after wearing them every time, and your watch can be worn forever.

Do replica watches have serial numbers?

Yes, the super clone and some A+++ copies carry the serial number too like real watches. These serial numbers are given by the manufacturing company to identify them. However, the number of replica watches does not mean anything, and it is just to give a real look to the watch.

Buying Rolex Replica Online - Concluding Thoughts

Buying Rolex replica watches online is a tricky decision. But it is a hassle-free experience when you know a reliable seller. Never trust the shady sellers, with incomplete product or vendor information, delayed response and failure to cater to your concerns.

PrestigeWatches.co can be a one-stop place for your replica watch shopping. There are so many amazing things that add to its legitimacy. Take time to explore and view the watches in stock. Also, read the refund and return policy, in case you are concerned about your money.

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Sensex Rises By 305 Points, Nifty By 103 In Early Market Trade

Equity benchmark indices rallied in early trade on Wednesday amid continuous foreign fund inflows along with buying in heavyweight IT stocks, Reliance Industries and HDFC Bank.

The 30-share BSE Sensex climbed 305.44 points to 66,479.64 in early trade after beginning the day on a positive note. The Nifty went up by 103 points to 19,992.70.

Among the Sensex firms, Bharti Airtel, Tech Mahindra, Wipro, Tata Consultancy Services, HCL Technologies, Infosys, Mahindra & Mahindra, HDFC Bank, Axis Bank and Reliance Industries were the major gainers.

Power Grid and NTPC were the laggards.

In Asian markets, Tokyo quoted with gains while Seoul, Shanghai and Hong Kong traded lower.

The US markets ended marginally up on Tuesday.

"Since the global market backdrop continues to be favourable, the rally in India is likely to continue. The drop in US 10-year bond yield to 4.3 per cent and the dollar index dropping below 103 are positive for equity markets.

"FIIs have turned buyers responding to the changed reality," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Global oil benchmark Brent crude declined 0.02 per cent to USD 81.66 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth Rs 783.82 crore on Tuesday, according to exchange data.

The BSE benchmark climbed 204.16 points or 0.31 per cent to settle at 66,174.20 on Tuesday. The Nifty gained 95 points or 0.48 per cent to 19,889.70.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Sensex Rises By 305 Points, Nifty By 103 In Early Market Trade

Equity benchmark indices rallied in early trade on Wednesday amid continuous foreign fund inflows along with buying in heavyweight IT stocks, Reliance Industries and HDFC Bank.

The 30-share BSE Sensex climbed 305.44 points to 66,479.64 in early trade after beginning the day on a positive note. The Nifty went up by 103 points to 19,992.70.

Among the Sensex firms, Bharti Airtel, Tech Mahindra, Wipro, Tata Consultancy Services, HCL Technologies, Infosys, Mahindra & Mahindra, HDFC Bank, Axis Bank and Reliance Industries were the major gainers.

Power Grid and NTPC were the laggards.

In Asian markets, Tokyo quoted with gains while Seoul, Shanghai and Hong Kong traded lower.

The US markets ended marginally up on Tuesday.

"Since the global market backdrop continues to be favourable, the rally in India is likely to continue. The drop in US 10-year bond yield to 4.3 per cent and the dollar index dropping below 103 are positive for equity markets.

"FIIs have turned buyers responding to the changed reality," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Global oil benchmark Brent crude declined 0.02 per cent to USD 81.66 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth Rs 783.82 crore on Tuesday, according to exchange data.

The BSE benchmark climbed 204.16 points or 0.31 per cent to settle at 66,174.20 on Tuesday. The Nifty gained 95 points or 0.48 per cent to 19,889.70.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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NDTV Profit Business Channel Resumes Operations This December

NDTV Profit, the business news channel of the New Delhi Television Ltd, is set to resume regular operations from December. The channel will go live on December 8 - six years after it was discontinued on June 1, 2017.

The company informed the stock exchanges today that its Board of Directors has approved regular operations of NDTV Profit channel.

NDTV's share prices jumped over 12% on the National Stock Exchange and over 11.5% on the Bombay Stock Exchange as it closed Tuesday.

Analysts and investors are cheering the channel's big comeback as there are only three other dedicated business channels at the moment.

With the era of digitalisation and the Indian economy witnessing a significant uptick, this comes as a welcome move to expand the horizons of business and economic news.

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NDTV Profit Business Channel Resumes Operations This December

NDTV Profit, the business news channel of the New Delhi Television Ltd, is set to resume regular operations from December. The channel will go live on December 8 - six years after it was discontinued on June 1, 2017.

The company informed the stock exchanges today that its Board of Directors has approved regular operations of NDTV Profit channel.

NDTV's share prices jumped over 12% on the National Stock Exchange and over 11.5% on the Bombay Stock Exchange as it closed Tuesday.

Analysts and investors are cheering the channel's big comeback as there are only three other dedicated business channels at the moment.

With the era of digitalisation and the Indian economy witnessing a significant uptick, this comes as a welcome move to expand the horizons of business and economic news.

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Stocks Of Adani Group Firms Climb In Morning Trade

Shares of Adani group firms continued to attract heavy demand in morning trade on Tuesday, with Adani Total Gas climbing nearly 20 per cent. All the 10 listed group companies were trading with sharp gains during the morning trade, defying a muted trend in the equity market.

Shares of Adani Total Gas zoomed 19.61 per cent, Adani Energy Solutions surged 13 per cent, Adani Power soared 8.46 per cent, Adani Green Energy jumped 7.84 per cent, Adani Enterprises climbed 7 per cent, Adani Wilmar went up by 6.86 per cent and NDTV advanced 6.42 per cent on the BSE.

Adani Ports gained 3.71 per cent, Ambuja Cements climbed 3.66 per cent and ACC went up by 2.86 per cent.

Stock prices of Adani group companies soared on Friday also as the Supreme Court heard and reserved its verdict on a batch of petitions seeking examination of allegations of fraud against the conglomerate.

On Friday, nine of the 10 listed group companies ended in the green, adding Rs 14,786 crore to their combined market capitalisation, stock exchange data showed.

Equity markets were closed on Monday for Guru Nanak Jayanti. In the broader equity market, the benchmark indices faced heavy volatile trends and were quoting between highs and lows.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Stocks Of Adani Group Firms Climb In Morning Trade

Shares of Adani group firms continued to attract heavy demand in morning trade on Tuesday, with Adani Total Gas climbing nearly 20 per cent. All the 10 listed group companies were trading with sharp gains during the morning trade, defying a muted trend in the equity market.

Shares of Adani Total Gas zoomed 19.61 per cent, Adani Energy Solutions surged 13 per cent, Adani Power soared 8.46 per cent, Adani Green Energy jumped 7.84 per cent, Adani Enterprises climbed 7 per cent, Adani Wilmar went up by 6.86 per cent and NDTV advanced 6.42 per cent on the BSE.

Adani Ports gained 3.71 per cent, Ambuja Cements climbed 3.66 per cent and ACC went up by 2.86 per cent.

Stock prices of Adani group companies soared on Friday also as the Supreme Court heard and reserved its verdict on a batch of petitions seeking examination of allegations of fraud against the conglomerate.

On Friday, nine of the 10 listed group companies ended in the green, adding Rs 14,786 crore to their combined market capitalisation, stock exchange data showed.

Equity markets were closed on Monday for Guru Nanak Jayanti. In the broader equity market, the benchmark indices faced heavy volatile trends and were quoting between highs and lows.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Maruti Suzuki Cars To Cost More From January 2024

The country's largest carmaker Maruti Suzuki India on Monday said it will increase vehicle prices in January 2024, citing cost pressure driven by the overall inflationary environment and increased commodity rates.

The company -- which sells a range of vehicles from entry-level small car Alto to multi-utility vehicle Invicto, priced between Rs 3.54 lakh and Rs 28.42 lakh (ex-showroom Delhi) -- however, did not specify the quantum of the proposed price hike.

In an interaction with PTI, Maruti Suzuki India (MSI) Senior Executive Officer (Marketing and Sales) Shashank Srivastava said the price hike would vary from model to model and in some, it will be "substantial".

"There is an inflationary pressure all around, including volatility in commodities, so that is the reason we have decided to increase the prices in January," he noted.

MSI had last hiked prices by 0.8 per cent in April this year. It had hiked a total increase of 2.4 per cent in the last fiscal.

"There is no choice left for us now but to enhance the prices...we are yet to figure out the exact quantum of the increase," Srivastava said.

Earlier in a regulatory filing, MSI stated that the company has planned to increase the prices of its cars in January 2024 on account of increased cost pressure driven by overall inflation and increased commodity prices.

It further said, "While the company makes maximum efforts to reduce cost and offset the increase, it may have to pass on some increase to the market. This price increase shall vary across models".

German luxury carmaker Audi said it will hike prices of its vehicles in India by up to 2 per cent from January next year, citing rising input and operational costs.

The price hike will be effective from January 1, 2024, and will be across the model range, Audi India said in a statement.

When contacted, Mercedes-Benz India noted that it is also mulling to hike prices from January.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Tata Technologies IPO Allotment Expected Soon: Steps To Check Status

The initial public offering by Tata Technologies Ltd witnessed a remarkable response from the investor with a subscription of 69.4 times. The IPO by a Tata Group company in nearly two decades was open for subscription from November 22 to 24.

Notably, the investor purchased 312.65 crore equity shares against the offer size of 4.5 crore shares, reflecting a substantial demand. The total bids amounted to ₹1.56 lakh crore worth of shares in just three days, according to a Moneycontrol report.

The ₹ 3,042.51 crore IPO was open for subscription for three days at a price range of ₹ 475-500 per share.

As the subscription period has ended, the investor are awaiting the share allotment by Tata Technologies. The share allotment for Tata Technologies IPO is expected by Tuesday, November 28.

 The investor can check the share allotment status on the websites of BSE or the official registrar. Link Intime India has been appointed as the official registrar for the Tata Tech IPO.

Tata Technologies IPO: How to check allotment status?

Once allotted, the investor can check the share allotment status using their application or PAN details.  

Follow these steps to check status on BSE website:

1.    Visit the BSE website, at www.bseindia.com

2.    Choose ‘Equity' and select the issue name from the dropdown.

3.    Enter your application number and PAN card number.

4.    Click on the ‘Search' button.

On Link Intime website:

1.    Visit the Link Intime website, at www. linkintime.co.in/IPO/public-issues.html

2.    Select Tata Technologies from the dropdown list of company names.

3.    Enter your PAN, application number, DP/Client ID, or account number/IFSC.

4.    Click on ‘Search'.

Please make sure that the details are entered correctly to view the status after allotment. 

Tata Technologies IPO: Listing date

Successful investor can expect the equity shares to be credited to their demat accounts by November 29. The shares are likely to be listed on the stock exchanges on November 30, according to reports.

Tata Technologies IPO is gaining a good response in the unofficial grey market. The premium over the issue price of ₹ 500 per share has increased by about 10 per cent up to 80 per cent, as on November 27. Before the IPO opened for subscription, the quoted grey market premium was 70 per cent. 

Keywords: Tata Tech IPO, Tata Technologies IPO, Tata Technologies IPO share allotment status, Tata Technologies IPO listing date

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Tata Technologies IPO Allotment Expected Soon: Steps To Check Status

The initial public offering by Tata Technologies Ltd witnessed a remarkable response from the investor with a subscription of 69.4 times. The IPO by a Tata Group company in nearly two decades was open for subscription from November 22 to 24.

Notably, the investor purchased 312.65 crore equity shares against the offer size of 4.5 crore shares, reflecting a substantial demand. The total bids amounted to ₹1.56 lakh crore worth of shares in just three days, according to a Moneycontrol report.

The ₹ 3,042.51 crore IPO was open for subscription for three days at a price range of ₹ 475-500 per share.

As the subscription period has ended, the investor are awaiting the share allotment by Tata Technologies. The share allotment for Tata Technologies IPO is expected by Tuesday, November 28.

 The investor can check the share allotment status on the websites of BSE or the official registrar. Link Intime India has been appointed as the official registrar for the Tata Tech IPO.

Tata Technologies IPO: How to check allotment status?

Once allotted, the investor can check the share allotment status using their application or PAN details.  

Follow these steps to check status on BSE website:

1.    Visit the BSE website, at www.bseindia.com

2.    Choose ‘Equity' and select the issue name from the dropdown.

3.    Enter your application number and PAN card number.

4.    Click on the ‘Search' button.

On Link Intime website:

1.    Visit the Link Intime website, at www. linkintime.co.in/IPO/public-issues.html

2.    Select Tata Technologies from the dropdown list of company names.

3.    Enter your PAN, application number, DP/Client ID, or account number/IFSC.

4.    Click on ‘Search'.

Please make sure that the details are entered correctly to view the status after allotment. 

Tata Technologies IPO: Listing date

Successful investor can expect the equity shares to be credited to their demat accounts by November 29. The shares are likely to be listed on the stock exchanges on November 30, according to reports.

Tata Technologies IPO is gaining a good response in the unofficial grey market. The premium over the issue price of ₹ 500 per share has increased by about 10 per cent up to 80 per cent, as on November 27. Before the IPO opened for subscription, the quoted grey market premium was 70 per cent. 

Keywords: Tata Tech IPO, Tata Technologies IPO, Tata Technologies IPO share allotment status, Tata Technologies IPO listing date

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3 Reasons Behind Bitcoin Rallying To Its Highest This Year

Bitcoin, the world's most prominent cryptocurrency, surged past $38,000 on Friday for the first time this year. The cryptocurrency gained around 1.5% on Friday to trade above the $38,000-level for the first time since May 2022 in line with gains in other crypto assets such as Ether and Solana, reported CNBC.

Here are the main factors that fuelled the rally in Bitcoin.

Resolution Of Binance's Legal Troubles

One of the major factors contributing to Bitcoin's rise is the resolution of Binance's legal troubles.

Changpeng "CZ" Zhao, the CEO of Binance, the largest crypto exchange in the world, agreed to plead guilty to federal criminal charges brought by the US Department of Justice, reported Reuters.

This settlement has instilled renewed confidence among the investors, easing concerns about the exchange's future and its impact on the broader cryptocurrency market which is still recovering from the 2022 FTX's failure.

The development has also come within a month of FTX founder Sam Bankman-Fried's conviction in a federal fraud and conspiracy trial.

Anticipation Of Bitcoin ETF Approval

The rally in Bitcoin has also come amid expectations of approval of a Bitcoin exchange-traded fund (ETF). An ETF would allow traditional investors to gain exposure to Bitcoin without directly owning or managing the cryptocurrency, potentially expanding its investor base and driving further demand.

Bitcoin (BTC) has been range bound since March, fluctuating between a support level of $25,000 and a resistance level of $30,000. 

In October, rumours of a spot ETF approval sparked a price surge, driving BTC from below $27,000 to over $38,000 by Friday. 

Macroeconomic Factors

Investors also weighed the minutes of the Federal Open Market Committee meeting, which were also released on the day of the settlement. The minutes showed that officials expressed little appetite for cutting interest rates anytime soon, which could have a dampening effect on risk assets like Bitcoin.

The Fed's hawkish stance is likely to keep Bitcoin prices in check in the near term, but the overall outlook for the cryptocurrency remains positive.

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3 Reasons Behind Bitcoin Rallying To Its Highest This Year

Bitcoin, the world's most prominent cryptocurrency, surged past $38,000 on Friday for the first time this year. The cryptocurrency gained around 1.5% on Friday to trade above the $38,000-level for the first time since May 2022 in line with gains in other crypto assets such as Ether and Solana, reported CNBC.

Here are the main factors that fuelled the rally in Bitcoin.

Resolution Of Binance's Legal Troubles

One of the major factors contributing to Bitcoin's rise is the resolution of Binance's legal troubles.

Changpeng "CZ" Zhao, the CEO of Binance, the largest crypto exchange in the world, agreed to plead guilty to federal criminal charges brought by the US Department of Justice, reported Reuters.

This settlement has instilled renewed confidence among the investors, easing concerns about the exchange's future and its impact on the broader cryptocurrency market which is still recovering from the 2022 FTX's failure.

The development has also come within a month of FTX founder Sam Bankman-Fried's conviction in a federal fraud and conspiracy trial.

Anticipation Of Bitcoin ETF Approval

The rally in Bitcoin has also come amid expectations of approval of a Bitcoin exchange-traded fund (ETF). An ETF would allow traditional investors to gain exposure to Bitcoin without directly owning or managing the cryptocurrency, potentially expanding its investor base and driving further demand.

Bitcoin (BTC) has been range bound since March, fluctuating between a support level of $25,000 and a resistance level of $30,000. 

In October, rumours of a spot ETF approval sparked a price surge, driving BTC from below $27,000 to over $38,000 by Friday. 

Macroeconomic Factors

Investors also weighed the minutes of the Federal Open Market Committee meeting, which were also released on the day of the settlement. The minutes showed that officials expressed little appetite for cutting interest rates anytime soon, which could have a dampening effect on risk assets like Bitcoin.

The Fed's hawkish stance is likely to keep Bitcoin prices in check in the near term, but the overall outlook for the cryptocurrency remains positive.

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Be Judicious In Using Flexibility On Interest Rates:Governor To NBFC-MFIs

Stating that some Non Banking Finance Company-Microfinance Institutions (NBFC-MFIs) are making wider net interest margins, RBI Governor Shaktikanta Das on Wednesday asked entities to be "judicious" in using the flexibility on the interest rates they charge from borrowers.

Speaking at the annual Fibac event, Mr Das said the microlending segment serves marginalised clientele and has emerged as an important financial conduit to foster financial inclusion.

"Though the interest rates are deregulated, certain NBFC-MFIs appear to be enjoying relatively higher net interest margins. It is indeed for microfinance lenders themselves to ensure that the flexibility provided to them in setting interest rates is used judiciously," he said.

It can be noted that following the crisis in the microfinance segment in Andhra Pradesh that had also led to the creation of the NBFC-MFI segment, the Reserve Bank of India (RBI) had capped the maximum interest which lenders can charge at 24 per cent. The rate regime was deregulated it in 2021, making it possible for entities to charge as much as they want.

Mr Das acknowledged that such entities have to bear in mind the affordability and the repayment capacity of the borrowers while setting their interest rates.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Be Judicious In Using Flexibility On Interest Rates:Governor To NBFC-MFIs

Stating that some Non Banking Finance Company-Microfinance Institutions (NBFC-MFIs) are making wider net interest margins, RBI Governor Shaktikanta Das on Wednesday asked entities to be "judicious" in using the flexibility on the interest rates they charge from borrowers.

Speaking at the annual Fibac event, Mr Das said the microlending segment serves marginalised clientele and has emerged as an important financial conduit to foster financial inclusion.

"Though the interest rates are deregulated, certain NBFC-MFIs appear to be enjoying relatively higher net interest margins. It is indeed for microfinance lenders themselves to ensure that the flexibility provided to them in setting interest rates is used judiciously," he said.

It can be noted that following the crisis in the microfinance segment in Andhra Pradesh that had also led to the creation of the NBFC-MFI segment, the Reserve Bank of India (RBI) had capped the maximum interest which lenders can charge at 24 per cent. The rate regime was deregulated it in 2021, making it possible for entities to charge as much as they want.

Mr Das acknowledged that such entities have to bear in mind the affordability and the repayment capacity of the borrowers while setting their interest rates.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Union Minister To Meet Social Media Platforms Over Deepfakes Tomorrow

Union Minister Ashwini Vaishnaw has called a meeting with representatives of social media platforms on the issue of deepfakes on Thursday, according to a source.

The move comes amid concerns over misuse of technology and the government's firm resolve to push digital platforms to crack down on deepfakes.

According to a source, IT Minister Ashwini Vaishnaw will meet social media platforms on the issue of deepfakes on November 23.

Recently, several 'deepfake' videos targeting leading actors went viral, sparking outrage and raising apprehensions over misuse of technology and tools for creating fake content and narratives.

On Friday, Prime Minister Narendra Modi cautioned that deepfakes created by artificial intelligence can lead to a big crisis and stoke discontent in society, and urged the media to raise awareness about its misuse and educate people.

Vaishnaw has warned that safe harbour immunity clause will not apply if platforms do not take adequate steps to remove deepfakes.

The government had recently issued a notice to companies on the issue, and while the platforms responded, the minister made it clear that firms will have to be more aggressive in taking action on such content.

Speaking to reporters late last week, Vaishnaw had said, "They are taking steps... but we think that many more steps will have to be taken. And we are very soon going to have a meeting of all the platforms... maybe in the next 3-4 days, we'll call them for brainstorming on that and make sure that platforms make adequate efforts for preventing it (deepfakes), and cleaning up their system." Asked if big platforms like Meta and Google would be called for the meeting, the minister had replied in the affirmative.

"The safe harbour clause, which most social media platforms have been enjoying... that does not apply if they do not take adequate steps for removing deepfakes from their platforms," Vaishnaw had said.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Union Minister To Meet Social Media Platforms Over Deepfakes Tomorrow

Union Minister Ashwini Vaishnaw has called a meeting with representatives of social media platforms on the issue of deepfakes on Thursday, according to a source.

The move comes amid concerns over misuse of technology and the government's firm resolve to push digital platforms to crack down on deepfakes.

According to a source, IT Minister Ashwini Vaishnaw will meet social media platforms on the issue of deepfakes on November 23.

Recently, several 'deepfake' videos targeting leading actors went viral, sparking outrage and raising apprehensions over misuse of technology and tools for creating fake content and narratives.

On Friday, Prime Minister Narendra Modi cautioned that deepfakes created by artificial intelligence can lead to a big crisis and stoke discontent in society, and urged the media to raise awareness about its misuse and educate people.

Vaishnaw has warned that safe harbour immunity clause will not apply if platforms do not take adequate steps to remove deepfakes.

The government had recently issued a notice to companies on the issue, and while the platforms responded, the minister made it clear that firms will have to be more aggressive in taking action on such content.

Speaking to reporters late last week, Vaishnaw had said, "They are taking steps... but we think that many more steps will have to be taken. And we are very soon going to have a meeting of all the platforms... maybe in the next 3-4 days, we'll call them for brainstorming on that and make sure that platforms make adequate efforts for preventing it (deepfakes), and cleaning up their system." Asked if big platforms like Meta and Google would be called for the meeting, the minister had replied in the affirmative.

"The safe harbour clause, which most social media platforms have been enjoying... that does not apply if they do not take adequate steps for removing deepfakes from their platforms," Vaishnaw had said.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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India Needs To Add 80 GW Coal-Based Capacity By 2030: Minister

India needs to add thermal coal-based power generation capacity of 80 GW against the 27 GW currently under construction as the peak power demand in the country would spike to 335 GW by 2030 from 241 GW at present, Union Power Minister RK Singh said on Tuesday.

Mr Singh presided over a review meeting on thermal power capacity addition in the country where independent power producers and state-owned generators NTPC, SJVN, NHPC, DVC, THDCIL, and NLCIL participated virtually and in physical mode on Tuesday.

Besides energy secretaries of 13 major states were also invited for deliberations.

Addressing the review meeting, Mr Singh said India's peak power demand would touch 335 GW in 2029-30 from the present level of 241 GW.

Peak power demand had touched all-time high of 241 GW in September, reflecting rise in electricity consumption in the country with expansion of economic activities as well as per capita usage.

The minister said India needs 80 GW of coal-based thermal power generation capacity to be build against 27 GW under construction at present.

He was of the view that the renewable energy capacity addition alone cannot help meet the rising electricity demand in the country that has already peaked at an all-time high of 241 GW.

India has set an ambitious target of having 500 GW of renewable energy capacity by 2030.

The minister said unless storage is viable and scalable, coal (based power generation) cannot be ignored.

Therefore, power demand in India requires coal-based thermal power capacity addition in the country to avoid outages, he said.

He said "the hypocrisy around renewable energy propagated by developed countries stands exposed and the West, which is itself dependent on 75 per cent fossil fuels, cannot lecture us".

He pointed out that India's per capita emission is the lowest in the world.

As per the latest report of the Central Electricity Authority (CEA) for October, India's installed generation capacity is about 425 GW, including around 179 GW renewable energy and large hydro electric plants.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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India Needs To Add 80 GW Coal-Based Capacity By 2030: Minister

India needs to add thermal coal-based power generation capacity of 80 GW against the 27 GW currently under construction as the peak power demand in the country would spike to 335 GW by 2030 from 241 GW at present, Union Power Minister RK Singh said on Tuesday.

Mr Singh presided over a review meeting on thermal power capacity addition in the country where independent power producers and state-owned generators NTPC, SJVN, NHPC, DVC, THDCIL, and NLCIL participated virtually and in physical mode on Tuesday.

Besides energy secretaries of 13 major states were also invited for deliberations.

Addressing the review meeting, Mr Singh said India's peak power demand would touch 335 GW in 2029-30 from the present level of 241 GW.

Peak power demand had touched all-time high of 241 GW in September, reflecting rise in electricity consumption in the country with expansion of economic activities as well as per capita usage.

The minister said India needs 80 GW of coal-based thermal power generation capacity to be build against 27 GW under construction at present.

He was of the view that the renewable energy capacity addition alone cannot help meet the rising electricity demand in the country that has already peaked at an all-time high of 241 GW.

India has set an ambitious target of having 500 GW of renewable energy capacity by 2030.

The minister said unless storage is viable and scalable, coal (based power generation) cannot be ignored.

Therefore, power demand in India requires coal-based thermal power capacity addition in the country to avoid outages, he said.

He said "the hypocrisy around renewable energy propagated by developed countries stands exposed and the West, which is itself dependent on 75 per cent fossil fuels, cannot lecture us".

He pointed out that India's per capita emission is the lowest in the world.

As per the latest report of the Central Electricity Authority (CEA) for October, India's installed generation capacity is about 425 GW, including around 179 GW renewable energy and large hydro electric plants.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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TCS To Take $125 Million Hit To Q3 Earnings Over US Trade Secret Lawsuit

Tata Consultancy Services (TCS) on Tuesday said it would make a $125 million provision in its third-quarter results in relation to a trade secret lawsuit filed by US-based Epic Systems.

Epic had filed the lawsuit against TCS in 2014, alleging the information technology (IT) services provider stole its intellectual property while it was contracted to implement Epic's healthcare software.

The US Supreme Court on Monday rejected TCS' appeal against a verdict passed by the District Court of Wisconsin, the company said in a statement.

Epic had originally secured a $940 million award against TCS from a Wisconsin federal jury in 2016, in what was one of the biggest trade secret verdicts in U.S. history.

The following year, this was more than halved to $420 million - of which $140 million comprised compensatory damages and $280 million was punitive. This was based on a Wisconsin law that allows punitive damages of up to double the compensatory damages.

In a subsequent appeal by TCS, the punitive damages were lowered to $140 million in 2022.

The Tata group company then appealed the punitive damages, and the petition was denied on Nov. 20.

In its appeal to the US Supreme Court against the punitive damages, TCS said it paid the compensatory "unjust enrichment award" after the first appeal, plus interest and costs.

The decision to make a provision in its results also comes amid a soft demand environment for IT services, as high inflation has led to clients tightening their wallets in key markets such as the US and Europe through the last year.

Industry heavyweights such as Infosys and Wipro trimmed their revenue forecasts last month, while TCS posted weak second-quarter results.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Grand Wedding Season Anticipates Nearly Rs 5 Lakh Crore Business

As the nation emerges from a record-breaking Diwali festive season, the business community is gearing up for a colossal surge in demand with the commencement of the upcoming wedding season on November 23.

With an estimated 38 lakh weddings expected to take place across the country, the mainline retail sector, encompassing goods and services, anticipates a staggering business worth Rs 4.74 lakh crore.

This marks a significant increase from last year's trade, which amounted to Rs 3.75 lakh crore for approximately 32 lakh weddings during the same period.

The auspicious wedding season, commencing on Dev Uthan Ekadashi on November 23 and extending until December 15, will witness a flurry of ceremonies as stars align for propitious wedding dates.

Calculations indicate that November 23, 24, 27, 28, and 29, along with December 3, 4, 7, 8, 9, and 15, are deemed auspicious for matrimonial celebrations.

The Confederation of All India Traders (CAIT), after consultations with trade bodies and stakeholders across 30 cities, predicts a substantial economic surge.

According to CAIT estimates, the 38 lakh weddings are expected to infuse about Rs 4.74 lakh crore into the market, reflecting both wedding-related purchases and the procurement of various services.

CAIT National President B C Bhartia and Secretary General Praveen Khandelwal emphasized that Delhi alone is projected to witness over 4 lakh weddings during this season, contributing to an estimated business volume of approximately Rs 1.25 lakh crore.

Breaking down the expenditure patterns, CAIT expects about 7 lakh weddings with expenses around Rs 3 lakh, 8 lakh weddings with Rs 6 lakh, 10 lakh weddings with Rs 10 lakh, 7 lakh weddings with Rs 15 lakh, 5 lakh weddings with Rs 25 lakh, 50 thousand weddings with Rs 50 lakh, and another 50 thousand weddings with expenses exceeding Rs 1 crore.

In the realm of goods, the estimated trade distribution includes 10 per cent in textiles, sarees, lehnga, and garments, 15 per cent in jewellery articles, 5 per cent in electronics, electricals, and consumer durables, 5 per cent in dry fruits, fruits, sweets, and nankeen, 5 per cent in food grain, grocery, and vegetables, 4 per cent in gift items, and the remaining 6 per cent in miscellaneous items.

The services sector is also expected to flourish, with allocations of 5 per cent for banquet halls, hotels, and other marriage venues, 5 per cent for event management, 12 per cent for tent decoration, 10 per cent for catering services, 4 per cent for flower decoration, 3 per cent for travel and cab services, 2 per cent for photo and video shoots, 3 per cent for orchestra and band services, 3 per cent for lights and sound, and the remaining 3 per cent for miscellaneous services.

Mr Bhartia and Mr Khandelwal anticipate that the momentum from the wedding season will spill over into Christmas and New Year sales, followed by another surge in the wedding season starting January 14, coinciding with Sankranti.

The economic landscape is set for a jubilant celebration, both in terms of matrimony and market vibrancy.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Grand Wedding Season Anticipates Nearly Rs 5 Lakh Crore Business

As the nation emerges from a record-breaking Diwali festive season, the business community is gearing up for a colossal surge in demand with the commencement of the upcoming wedding season on November 23.

With an estimated 38 lakh weddings expected to take place across the country, the mainline retail sector, encompassing goods and services, anticipates a staggering business worth Rs 4.74 lakh crore.

This marks a significant increase from last year's trade, which amounted to Rs 3.75 lakh crore for approximately 32 lakh weddings during the same period.

The auspicious wedding season, commencing on Dev Uthan Ekadashi on November 23 and extending until December 15, will witness a flurry of ceremonies as stars align for propitious wedding dates.

Calculations indicate that November 23, 24, 27, 28, and 29, along with December 3, 4, 7, 8, 9, and 15, are deemed auspicious for matrimonial celebrations.

The Confederation of All India Traders (CAIT), after consultations with trade bodies and stakeholders across 30 cities, predicts a substantial economic surge.

According to CAIT estimates, the 38 lakh weddings are expected to infuse about Rs 4.74 lakh crore into the market, reflecting both wedding-related purchases and the procurement of various services.

CAIT National President B C Bhartia and Secretary General Praveen Khandelwal emphasized that Delhi alone is projected to witness over 4 lakh weddings during this season, contributing to an estimated business volume of approximately Rs 1.25 lakh crore.

Breaking down the expenditure patterns, CAIT expects about 7 lakh weddings with expenses around Rs 3 lakh, 8 lakh weddings with Rs 6 lakh, 10 lakh weddings with Rs 10 lakh, 7 lakh weddings with Rs 15 lakh, 5 lakh weddings with Rs 25 lakh, 50 thousand weddings with Rs 50 lakh, and another 50 thousand weddings with expenses exceeding Rs 1 crore.

In the realm of goods, the estimated trade distribution includes 10 per cent in textiles, sarees, lehnga, and garments, 15 per cent in jewellery articles, 5 per cent in electronics, electricals, and consumer durables, 5 per cent in dry fruits, fruits, sweets, and nankeen, 5 per cent in food grain, grocery, and vegetables, 4 per cent in gift items, and the remaining 6 per cent in miscellaneous items.

The services sector is also expected to flourish, with allocations of 5 per cent for banquet halls, hotels, and other marriage venues, 5 per cent for event management, 12 per cent for tent decoration, 10 per cent for catering services, 4 per cent for flower decoration, 3 per cent for travel and cab services, 2 per cent for photo and video shoots, 3 per cent for orchestra and band services, 3 per cent for lights and sound, and the remaining 3 per cent for miscellaneous services.

Mr Bhartia and Mr Khandelwal anticipate that the momentum from the wedding season will spill over into Christmas and New Year sales, followed by another surge in the wedding season starting January 14, coinciding with Sankranti.

The economic landscape is set for a jubilant celebration, both in terms of matrimony and market vibrancy.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Is Bitcoin Leading The Way To A Financial Revolution?

The advent of digitalization has fuelled rapid evolution in the world of finance, challenging traditional notions of currency and value. In this realm, Bitcoin has emerged as a formidable force, constantly sparking fervent debates and discussions about its price swings. The staggering recent surge in Bitcoin value has further garnered positive attention from both investors and crypto enthusiasts despite its decentralized nature and inherent volatility. As crypto is leading the world toward a borderless financial system, experts are wondering if Bitcoin is at the forefront of this revolution.

Bitcoin has been a long-standing player in the cryptocurrency market, making a significant impact on the financial landscape. This journey was kicked off in 2009 by an anonymous person or group under the pseudonym Satoshi Nakamoto when Bitcoin was introduced simply as a peer-to-peer electronic cash system. Since then, the crypto world has seen rising interest in cryptocurrencies and its underlying blockchain technology among investors and traders alike.

The core value of Bitcoin lies in its decentralized nature. While governments and financial institutions regulate traditional currencies, Bitcoin operates on a decentralized network called blockchain, which means there is no central authority to control its valuation. This has offered Bitcoin users a sense of autonomy and freedom from centralized authorities. Additionally, the transparency and security of blockchain technology have also enhanced its appeal, attracting investors who rely on its prospects to transform the digital currency landscape.

Multiple Advantages

One of the key features that fuelled the growth of Bitcoin is its potential to facilitate cross-border transactions without the need for intermediaries. This feature has revolutionized how people and businesses conduct international trade, helping them escape the daunting and often costly transactions used by traditional banking systems. The 24/7 accessibility of Bitcoin also makes it an attractive option for those conducting transactions across different time zones.

Despite its alluring features, Bitcoin has faced controversies from critics who are skeptical about the sustainability of its growth. They raise concerns about the volatility of Bitcoin, citing its price fluctuations over the years. They have also highlighted the adverse impact of Bitcoin mining on the environment, pointing to its energy-intensive nature. Regulatory challenges and security issues have further raised questions about its rising value, demanding more comprehensive oversight and regulation of the cryptocurrency market.

New Digital Currency

However, the growing acceptance of Bitcoin among mainstream financial institutions and businesses hints at a major shift in public perception of cryptocurrencies. Renowned corporations have started integrating Bitcoin into their payment systems, and some have even invested portions of their treasuries in Bitcoin. This mainstream adoption brings more legitimacy to the cryptocurrency, developing a strong connection between the traditional and the digital financial realms.

The future of Bitcoin might remain uncertain as of now, but its impact on the global financial landscape cannot be overlooked. Whether Bitcoin will lead investors and traders into a new era of financial autonomy or face hurdles that limit its potential, the cryptocurrency has undeniably emerged as a trailblazer in the world of digital assets, shaping global economies. As the world continues to grapple with the regulatory environment regarding the use and trading of digital assets, time will reveal whether Bitcoin will pave the way for a financial revolution or remain an alluring yet volatile asset in the digital financial landscape.

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Is Bitcoin Leading The Way To A Financial Revolution?

The advent of digitalization has fuelled rapid evolution in the world of finance, challenging traditional notions of currency and value. In this realm, Bitcoin has emerged as a formidable force, constantly sparking fervent debates and discussions about its price swings. The staggering recent surge in Bitcoin value has further garnered positive attention from both investors and crypto enthusiasts despite its decentralized nature and inherent volatility. As crypto is leading the world toward a borderless financial system, experts are wondering if Bitcoin is at the forefront of this revolution.

Bitcoin has been a long-standing player in the cryptocurrency market, making a significant impact on the financial landscape. This journey was kicked off in 2009 by an anonymous person or group under the pseudonym Satoshi Nakamoto when Bitcoin was introduced simply as a peer-to-peer electronic cash system. Since then, the crypto world has seen rising interest in cryptocurrencies and its underlying blockchain technology among investors and traders alike.

The core value of Bitcoin lies in its decentralized nature. While governments and financial institutions regulate traditional currencies, Bitcoin operates on a decentralized network called blockchain, which means there is no central authority to control its valuation. This has offered Bitcoin users a sense of autonomy and freedom from centralized authorities. Additionally, the transparency and security of blockchain technology have also enhanced its appeal, attracting investors who rely on its prospects to transform the digital currency landscape.

Multiple Advantages

One of the key features that fuelled the growth of Bitcoin is its potential to facilitate cross-border transactions without the need for intermediaries. This feature has revolutionized how people and businesses conduct international trade, helping them escape the daunting and often costly transactions used by traditional banking systems. The 24/7 accessibility of Bitcoin also makes it an attractive option for those conducting transactions across different time zones.

Despite its alluring features, Bitcoin has faced controversies from critics who are skeptical about the sustainability of its growth. They raise concerns about the volatility of Bitcoin, citing its price fluctuations over the years. They have also highlighted the adverse impact of Bitcoin mining on the environment, pointing to its energy-intensive nature. Regulatory challenges and security issues have further raised questions about its rising value, demanding more comprehensive oversight and regulation of the cryptocurrency market.

New Digital Currency

However, the growing acceptance of Bitcoin among mainstream financial institutions and businesses hints at a major shift in public perception of cryptocurrencies. Renowned corporations have started integrating Bitcoin into their payment systems, and some have even invested portions of their treasuries in Bitcoin. This mainstream adoption brings more legitimacy to the cryptocurrency, developing a strong connection between the traditional and the digital financial realms.

The future of Bitcoin might remain uncertain as of now, but its impact on the global financial landscape cannot be overlooked. Whether Bitcoin will lead investors and traders into a new era of financial autonomy or face hurdles that limit its potential, the cryptocurrency has undeniably emerged as a trailblazer in the world of digital assets, shaping global economies. As the world continues to grapple with the regulatory environment regarding the use and trading of digital assets, time will reveal whether Bitcoin will pave the way for a financial revolution or remain an alluring yet volatile asset in the digital financial landscape.

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"Not Out Of The Woods Yet": RBI On Inflation

India is not home-free with regards to the pressures of high prices but the moderation in retail inflation over the last two months is a relief, the Reserve Bank of India (RBI) said in its November bulletin published on Thursday.

"We are not out of the woods yet and have miles to go, but (inflation) readings of around 5% and 4.9% in September and October, respectively, are a welcome relief from the average of 6.7% in 2022-23 and 7.1% in July-August 2023," the RBI said in its 'State of the Economy' article in the bulletin.

India's annual retail inflation eased to a four-month low of 4.87% in October but remained above the RBI's 4% target. The central bank expects inflation to average 5.4% in 2023-24.

High-frequency food price data for this month up to Nov. 13 indicates that cereal and pulse prices have increased further, while edible oil prices continued to decline, the RBI said.

India's growth continues to depend on domestic demand, which provides a cushion against external shocks, the RBI said.

The country's external sector has remained viable, with a modest current account deficit financed by resilient capital flows, one of the least volatile currencies in the world and a "healthy" level of foreign exchange reserves, it said.

India's economic growth has also picked up, the central bank said, noting the momentum of the change in gross domestic product is expected to be sequentially higher in October-December on the back of "ebullient" festival demand.

Investment demand also appears to be resilient given the government's infrastructure spending, an uptick in private capex and digitalisation, among other reasons, the central bank said.

The RBI also said the calibrated normalisation of surplus liquidity and robust credit growth strengthened transmission during the current tightening phase, although the transmission is still not complete.

The transmission of rates to term deposits has been robust, while savings deposit rates have exhibited "rigidity," the central bank said.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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"Not Out Of The Woods Yet": RBI On Inflation

India is not home-free with regards to the pressures of high prices but the moderation in retail inflation over the last two months is a relief, the Reserve Bank of India (RBI) said in its November bulletin published on Thursday.

"We are not out of the woods yet and have miles to go, but (inflation) readings of around 5% and 4.9% in September and October, respectively, are a welcome relief from the average of 6.7% in 2022-23 and 7.1% in July-August 2023," the RBI said in its 'State of the Economy' article in the bulletin.

India's annual retail inflation eased to a four-month low of 4.87% in October but remained above the RBI's 4% target. The central bank expects inflation to average 5.4% in 2023-24.

High-frequency food price data for this month up to Nov. 13 indicates that cereal and pulse prices have increased further, while edible oil prices continued to decline, the RBI said.

India's growth continues to depend on domestic demand, which provides a cushion against external shocks, the RBI said.

The country's external sector has remained viable, with a modest current account deficit financed by resilient capital flows, one of the least volatile currencies in the world and a "healthy" level of foreign exchange reserves, it said.

India's economic growth has also picked up, the central bank said, noting the momentum of the change in gross domestic product is expected to be sequentially higher in October-December on the back of "ebullient" festival demand.

Investment demand also appears to be resilient given the government's infrastructure spending, an uptick in private capex and digitalisation, among other reasons, the central bank said.

The RBI also said the calibrated normalisation of surplus liquidity and robust credit growth strengthened transmission during the current tightening phase, although the transmission is still not complete.

The transmission of rates to term deposits has been robust, while savings deposit rates have exhibited "rigidity," the central bank said.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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Not Out Of Woods Yet, Have Miles To Go: RBI Bulletin On Retail Inflation

A Reserve Bank Bulletin on Thursday said retail inflation has moderated due to monetary policy action and supply-side interventions, but "we are not out of the woods yet and have miles to go".

An article on the state of the economy in the November Bulletin also noted that the global economy is showing signs of slowing down in the ongoing quarter as manufacturing languishes while services sector activity appears to have reached the end of its post-pandemic expansion.

Going forward, it said tightening financial conditions is a significant risk to the global outlook.

"In India, the momentum of the change in GDP is sequentially expected to be higher in Q3, 2023-24, with festival demand remaining ebullient," the article authored by a team lead by RBI Deputy Governor Michael Debabrata Patra said.

The authors said investment demand appears to be resilient with the government's infrastructure spending, an uptick in private capex, automation, digitalisation, and indigenisation providing a boost.

Referring to the headline inflation based on Consumer Price Index (CPI), the article said a combination of monetary policy action and supply-side interventions guided inflation down from the high reaches to which it had climbed through the first seven months of 2022-23.

In fact, November 2022 was the first month when headline inflation dropped back into the RBI's tolerance band of 2-6 percent in the whole calendar year.

"We are not out of the woods yet and have miles to go, but readings of around 5 percent and 4.9 percent in September and October, respectively, are a welcome relief from the average of 6.7 percent in 2022-23 and 7.1 percent in July-August 2023," it said.

The RBI, however, said the views expressed in the article are of the authors and do not represent the views of the central bank.

The article further said India's external sector has remained viable, with a modest Current Account Deficit (CAD) financed by resilient capital flows, one of the least volatile currencies in the world and a healthy level of foreign exchange reserves.

The momentum of growth has picked up, taking GDP well above pre-pandemic levels to becoming the fifth largest economy in the world at market exchange rates, it added.

"Steadfast policy initiatives are showing results, with the financial sector exhibiting soundness and supporting the credit needs of a resurgent economy," it said.

The 37th edition of the State of the Economy article marks the third year of its revival after a long hiatus of 25 years.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Not Out Of Woods Yet, Have Miles To Go: RBI Bulletin On Retail Inflation

A Reserve Bank Bulletin on Thursday said retail inflation has moderated due to monetary policy action and supply-side interventions, but "we are not out of the woods yet and have miles to go".

An article on the state of the economy in the November Bulletin also noted that the global economy is showing signs of slowing down in the ongoing quarter as manufacturing languishes while services sector activity appears to have reached the end of its post-pandemic expansion.

Going forward, it said tightening financial conditions is a significant risk to the global outlook.

"In India, the momentum of the change in GDP is sequentially expected to be higher in Q3, 2023-24, with festival demand remaining ebullient," the article authored by a team lead by RBI Deputy Governor Michael Debabrata Patra said.

The authors said investment demand appears to be resilient with the government's infrastructure spending, an uptick in private capex, automation, digitalisation, and indigenisation providing a boost.

Referring to the headline inflation based on Consumer Price Index (CPI), the article said a combination of monetary policy action and supply-side interventions guided inflation down from the high reaches to which it had climbed through the first seven months of 2022-23.

In fact, November 2022 was the first month when headline inflation dropped back into the RBI's tolerance band of 2-6 percent in the whole calendar year.

"We are not out of the woods yet and have miles to go, but readings of around 5 percent and 4.9 percent in September and October, respectively, are a welcome relief from the average of 6.7 percent in 2022-23 and 7.1 percent in July-August 2023," it said.

The RBI, however, said the views expressed in the article are of the authors and do not represent the views of the central bank.

The article further said India's external sector has remained viable, with a modest Current Account Deficit (CAD) financed by resilient capital flows, one of the least volatile currencies in the world and a healthy level of foreign exchange reserves.

The momentum of growth has picked up, taking GDP well above pre-pandemic levels to becoming the fifth largest economy in the world at market exchange rates, it added.

"Steadfast policy initiatives are showing results, with the financial sector exhibiting soundness and supporting the credit needs of a resurgent economy," it said.

The 37th edition of the State of the Economy article marks the third year of its revival after a long hiatus of 25 years.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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RBI Stops Bajaj Finance From Giving Loans To E-Tailers, EMI Card Users

Bajaj Finance Ltd has been ordered by the central bank to stop giving loans under its two categories of products for alleged violation of digital lending rules.

The Reserve Bank of India (RBI) in a statement today said that Bajaj Finance, an arm of Bajaj Finserv Ltd, should stop giving loans under its "two lending products eCOM and Insta EMI Card" immediately.

The RBI said it took the action after the company was allegedly found violating extant provisions of the central bank's digital lending guidelines.

"This action is necessitated due to non-adherence of the company to the extant provisions of digital lending guidelines of Reserve Bank of India, particularly non-issuance of key fact statements to the borrowers under these two lending products and the deficiencies in the key fact statements issued in respect of other digital loans sanctioned by the company," the RBI said in the statement issued by its Chief General Manager Yogesh Dayal.

The RBI said it will review the decision after Bajaj Finance corrects the flaws it had pointed out.

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RBI Stops Bajaj Finance From Giving Loans To E-Tailers, EMI Card Users

Bajaj Finance Ltd has been ordered by the central bank to stop giving loans under its two categories of products for alleged violation of digital lending rules.

The Reserve Bank of India (RBI) in a statement today said that Bajaj Finance, an arm of Bajaj Finserv Ltd, should stop giving loans under its "two lending products eCOM and Insta EMI Card" immediately.

The RBI said it took the action after the company was allegedly found violating extant provisions of the central bank's digital lending guidelines.

"This action is necessitated due to non-adherence of the company to the extant provisions of digital lending guidelines of Reserve Bank of India, particularly non-issuance of key fact statements to the borrowers under these two lending products and the deficiencies in the key fact statements issued in respect of other digital loans sanctioned by the company," the RBI said in the statement issued by its Chief General Manager Yogesh Dayal.

The RBI said it will review the decision after Bajaj Finance corrects the flaws it had pointed out.

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India's Exports Rise 6.21% To $33.57 Billion In October

India's exports rose by 6.21 per cent to USD 33.57 billion in October this year, as against USD 31.6 billion a year-ago, government data showed on Wednesday.

Imports also increased to USD 65.03 billion in the month under consideration, as against USD 57.91 billion recorded in October 2022.

The country's trade deficit in October stood at USD 31.46 billion.

During the April-October period of this fiscal year, exports contracted by 7 per cent to USD 244.89 billion.

Imports during the seven-month period fell by 8.95 per cent to USD 391.96 billion.

Commerce Secretary Sunil Barthwal said the trade numbers in October reflect 'green shoots'. 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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India's Exports Rise 6.21% To $33.57 Billion In October

India's exports rose by 6.21 per cent to USD 33.57 billion in October this year, as against USD 31.6 billion a year-ago, government data showed on Wednesday.

Imports also increased to USD 65.03 billion in the month under consideration, as against USD 57.91 billion recorded in October 2022.

The country's trade deficit in October stood at USD 31.46 billion.

During the April-October period of this fiscal year, exports contracted by 7 per cent to USD 244.89 billion.

Imports during the seven-month period fell by 8.95 per cent to USD 391.96 billion.

Commerce Secretary Sunil Barthwal said the trade numbers in October reflect 'green shoots'. 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Adani Electricity Announces Buyback Of $120 Million Senior Secured Notes

Adani Energy Solutions' arm Adani Electricity Mumbai has announced a tender offer to buyback part of its outstanding senior secured notes worth USD 120 million, which are due in 2030.

"The distribution arm of Adani Energy Solutions Ltd, Adani Electricity Mumbai Limited, today announced a tender offer to buyback up to USD 120 million of its outstanding 3.949% USD 1,000 million senior secured notes due 2030," a company statement said on Monday.

The tender offer is being fully funded through its cash surplus and internal accruals and will help reduce the leverage of the company in line with the Adani portfolio companies to consistently improve financial matrices, it said.

The company will from time to time carry out similar market actions all the way to the maturity of the bonds subject to market conditions, using the available liquidity of the company.

Such market action will enhance investor confidence and support in improving current dislocation of the yield curve due to external parameters (including high interest rate environment), it said.

The buyback programme will not only stabilize the yields of its outstanding bonds but also provide a superior outcome - both to bond investors as well as shareholders.

Adani Electricity Mumbai is ranked India's No. 1 power utility, as per the Ministry of Power's 11th Annual Integrated Rating and Ranking for Power Distribution (a report prepared by McKinsey & Company and Power Finance Corporation).

It services over 12 million consumers and meets over 2,000 MW of power demand of Mumbai.

In line with its commitments to investors and its consumers, Adani Electricity said, it increased its share of power procurement from renewable sources to 30 per cent from a baseline of 3 per cent in 2019 and is committed to further increase it to 60 per cent by the end of fiscal 2027.

At the same time, it also reduced its GHG (greenhouse gas) emission intensity by 38 per cent from 2019.

Adani Electricity, part of the diversified Adani Group, is an integrated business of retail electricity distribution. Adani Electricity owns and operates the largest and the most efficient power distribution network in the country.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Wholesale Inflation Stays In Negative For 7th Month At -0.52% In October

The wholesale price index-based inflation remained in the negative territory for the seventh straight month in October at (-) 0.52 per cent, on easing prices of food items.

The WPI-based inflation rate has been in the negative zone since April and was at (-) 0.26 per cent in September, 2023.

In October last year, WPI was at 8.67 per cent.

Inflation in food articles eased to 2.53 per cent in October. It was 3.35 per cent in the previous month.

"The negative rate of inflation in October, 2023, is primarily due to fall in prices of chemicals and chemical products, electricity, textiles, basic metals, food products, paper and paper products, etc. as compared to the corresponding month of previous year," the commerce and industry ministry said on Tuesday.

The fuel and power basket inflation was at (-) 2.47 per cent in October, against (-) 3.35 per cent in September.

In manufactured products, the inflation rate was at (-) 1.13 per cent, as against (-) 1.34 per cent in September.

The annual retail or consumer price inflation for October hit a 5-month low of 4.87 per cent, data released on Monday showed.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Wholesale Inflation Stays In Negative For 7th Month At -0.52% In October

The wholesale price index-based inflation remained in the negative territory for the seventh straight month in October at (-) 0.52 per cent, on easing prices of food items.

The WPI-based inflation rate has been in the negative zone since April and was at (-) 0.26 per cent in September, 2023.

In October last year, WPI was at 8.67 per cent.

Inflation in food articles eased to 2.53 per cent in October. It was 3.35 per cent in the previous month.

"The negative rate of inflation in October, 2023, is primarily due to fall in prices of chemicals and chemical products, electricity, textiles, basic metals, food products, paper and paper products, etc. as compared to the corresponding month of previous year," the commerce and industry ministry said on Tuesday.

The fuel and power basket inflation was at (-) 2.47 per cent in October, against (-) 3.35 per cent in September.

In manufactured products, the inflation rate was at (-) 1.13 per cent, as against (-) 1.34 per cent in September.

The annual retail or consumer price inflation for October hit a 5-month low of 4.87 per cent, data released on Monday showed.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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Adani Electricity Used Renewable Energy To Supply Mumbai Power On Diwali

Power utility company Adani Electricity on Monday said it relied completely on renewable sources for supply of power to Mumbai for four hours on Diwali day.

Adani Electricity supplied 1,200 MW of power from renewable sources to its 3 million subscribers between 10 AM and 2 PM, which meant that over 40 per cent of the financial capital's power needs were derived from renewable energy.

The peak demand of the financial capital on Sunday morning was over 2,500 MW, which went up to 2,776 MW in the evening.

Mumbai is currently struggling to check pollution level and improve air quality.

A bulk of the power supplied to the financial capital comes from adjoining areas, while the state authorities have recently asked a rival power generation company to halve the emission of particulate matter from its plant to help reduce pollution.

In a statement, Adani Electricity said it had planned the exercise in advance by sourcing power from solar and wind generation.

"Achieving 100 per cent renewable energy is a first and a significant milestone in Mumbai's energy transition, demonstrating that renewables can significantly power Mumbai city with reliable and sustainable electricity at competitive tariffs," the company's managing director Kandarp Patel said.

The statement said the company has sourced 38 per cent of the power supplied to consumers from renewable sources in 2023 and reaffirmed its commitment to increase it to 60 per cent by 2027. PTI AA HVA

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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