Tuesday, Nov 19, 2019 | Last Update : 08:15 AM IST

Economy

Finance Commission Chairman N K Singh.

Current economic slowdown episodic, says N K Singh

India's economic growth hit a six-year low of 5 per cent in the first quarter of the current fiscal.

The fall was mainly due to subdued prices of non-food articles and fall in prices of manufactured items.

WPI dips marginally to 0.16 pc in Oct due to subdued non-food prices

Retail inflation as measured by the consumer price index (CPI) touched a 16-month high as it rose to 4.62 per cent in October.

In September 2019, capital goods output dropped 20.7 per cent from a year ago, while consumer durables fell 9.9 per cent. (Photo: Representational/Pixabay)

India's industrial production posts steepest fall in 8 years

The contraction in IIP in September has dampened prospects of a quick recovery in economic growth after it slipped to a six-year low.

Indian economic growth has steadily slowed to a six-year low of 5.0 per cent in the April-June quarter from an 8.1 per cent peak in the January-March quarter of 2018.

Slowing Indian economy spells tough times ahead for the rupee: report

A barrage of rate cuts from the RBI this year has done nothing concrete so far to revive a slowing Indian economy.

The sharp reduction in tax rates will drag heavily on revenue collection.

Fitch raises India's FY20 fiscal deficit forecast to 3.6 pc of GDP

The move is estimated to result in Rs 1.45 lakh crore in revenue loss for the government during FY2019-20.

Market

Gold prices continued the decline as US and China are moving closer to ink the interim trade deal in November

Gold down Rs 130 amid weak global trend

Gold is trading at Rs 38,550 per 10 gram in the national capital on a weak global trend.

The Sensex closed 170 points or 0.42 per cent higher while the Nifty ended with a gain of 31.65 points, or 0.27 per cent, at 11872.10.

Nifty has to hold above 11850 for major up-move

Broader BSE Mid-Cap and Small-Cap indices ended on a flat note.

The broader NSE Nifty advanced 5.30 points, or 0.04 per cent, to end at 11,913.45.

Market ends marginally higher; Yes Bank rallies 5 Per cent

The 30-share Sensex ended 21.47 points, or 0.05 per cent, higher at 40,345.08.

According to the Central Statistics Office data, 4.3 per cent contraction is the lowest in 2011-12 series of Index of Industrial Production (IIP), which was unveiled in May 2017.

Rupee slips below 72-mark against US dollar

The Indian currency was trading 57 paise lower at 72.04 against the US dollar at 1548 hours.

Companies

NBCC and Suraksha Realty took part in the bidding process but their plans were rejected by the lenders.

NBCC, Suraksha Realty submit revised bids for Jaypee Infra

This will be the third round of bidding process in the Jaypee Infratech insolvency matter.

The oil giant said it plans to sell 1.5 per cent of the company, or about 3 billion shares, at an indicative price range of 30 riyals to 32 riyals.

Saudi Aramco in race for IPO record with USD 1.7 trillion top value

Aramco cannot sell its shares directly to investors in the United States and other markets, as the IPO will be restricted to Saudis.

Kotecha declined to comment on reports that Uber was looking at selling off the food delivery business in India, and was in discussions with multiple companies.

Uber Eats focuses on aggressive expansion in India

The company has added thousands of restaurant partners across the 44 cities it operates in here.

Airtel said that IUC should not come down to zero and the BAK regime should be postponed by at least three years.

Delay in implementation of zero call connect charges to hurt service: Jio

Traffic symmetry indicates that telecom operator will not have any outstanding balance of IUC against other networks.

Essar SteelBanks had moved the Supreme Court earlier this year after an appellate court judgment put the claims of Essar’s operational creditors on par with those of its lenders.

Supreme Court clears path for ArcelorMittal to acquire Essar Steel

The apex court said operational creditors cannot be treated on par with financial creditors of a bankrupt company.

Autos

If you value being different, the Kicks is worth a look. It’s good looking, fresh and premium inside.

Worth the Kicks

This new quirkily-named compact SUV is more than just its name.

Indian auto sector's total sales also declined by 12.76 per cent to 21,76,136 units in October from 24,94,345 units solder during the corresponding month of the previous year.

Ailing auto cos show signs of recovery after festive sales

Sales of commercial vehicles, the barometer of economic activity, were down 23.31 per cent at 66,773 units in October, Siam said.

Vinod Aggarwal

Green shoots visible in commercial vehicles

He said Q3 and Q4 of this fiscal would be certainly better compared to the sales in the Q1 and Q2.

As per the study by the global consumer insights and advisory services provider when it comes to sales satisfaction Hyundai ranked the highest followed by Mahindra & Mahindra and Toyota.

Indian car buyers becoming less price conscious: JD Power

As per the JD Power report, Indian car buyers are putting more emphasis on vehicle styling.

In Other News

Mobile ad frauds are becoming a major challenge for marketers. Among Asian countries, India leads in mobile ad frauds.

India has high incidence of mobile ad frauds

Major types of ad frauds are cookie stuffing, adware traffic, data fraud and ad injection.

In fact, the company is already in the process of investing in the new plant and commercial production would commence very soon, latest by the fourth quarter of the current fiscal, top company officials said.

Indian Wood Products to invest in Kashmir

At present, IWP has a market share of 35 per cent in the organised segment.

The share of gold provided by local refineries has fallen by one-third in the first nine months of 2019. The gold in the bullion market was available at a discount for some months, making refining unviable.

Gold supply by domestic refineries dips by a third

The gold in the bullion market was available at a discount for some months, making refining unviable.

RCom, which is going through insolvency process, had made a profit of Rs 1,141 crore in the second quarter of the previous financial year (Q2 FY19).

RCom posts Q2 loss of Rs 30,142 crore on provisioning of liabilities

RCom revenue from operations dropped to Rs 302 crore in Q2 FY20 from Rs 977 crore in Q2 FY19.

Future First Insurance Broking has teamed up with Arohan Financial Services, part of the Aavishkaar Group, eastern India’s largest NBFC MFI, to offer simple, customized and affordable insurance products in areas of major livelihood threats including health, accident, natural calamities, theft etc.

Future First, Arohan MFI plan to cover 3 million people

Future First, now has plans to cover 3 million people from the underserved segment over the next couple of years.