Tag: Thehindu business news

Riding on festive demand, passenger vehicle sales soar to record high in October

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Passenger vehicle wholesales in India rose to a record high in October as companies pushed dispatches to dealers to cater to the enhanced demand in the festive season. The overall passenger vehicle wholesales in October rose to 3,91,472 units, up 16 per cent from 3,36,679 units in the same month last year. Last month witnessed…

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Rupee rises 2 paise to 82.61 against US dollar

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At the interbank foreign exchange, the domestic unit opened at 82.58, then touched the lowest level of 82.62. File | Photo Credit: Special Arrangement The rupee appreciated by 2 paise to 82.61 against the US dollar in early trade on Tuesday amid a weak American currency against major rivals overseas and positive domestic equity markets. Retreating…

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Temasek to invest ₹1,200 crore in Mahindra’s passenger EV company MEAL

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“With this investment, Mahindra’s EV subsidiary’s valuation goes up by 15% from up to ₹70,070 crores to up to ₹80,580 crores. The breadth of global experience of these marquee investors will be valuable for MEAL,” M&M said in a statement.  | Photo Credit: Special arrangement Mahindra & Mahindra Ltd. and global investment firm Temasek have…

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Monsoon’s uneven march could fuel food inflation: Analysts 

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With the Indian Meteorological Department signalling that parts of Uttar Pradesh, Bihar, Assam, Punjab, Karnataka and Tamil Nadu may see less than normal rainfall this month, sowing of paddy and pulses could be further affected. These effects were already exacerbating food inflation, reckoned analysts at brokerage Motilal Oswal. File | Photo Credit: Reuters Despite a wetter…

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Hindenburg report was an attempt to tarnish the group’s image: Gautam Adani

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Adani Group Chairman Gautam Adani addresses during the Annual General Meeting (AGM) of his group companies, on Tuesday, July 18, 2023. | Photo Credit: PTI Gautam Adani on Tuesday said that the U.S.-based short seller Hindenburg Research’s report on the group was a deliberate, malicious attempt at damaging the group’s reputation and generate profit by…

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As exports shrink amid global uncertainty, no clear target for 2023-24

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Photo used for illustration purpose only. | Photo Credit: K.R. Deepak With merchandise exports shrinking 15.1% in the first quarter of this year, after racking up a record $450 billion in 2022-23, the government is playing it safe on announcing a clear target for outbound shipments this year and is likely to opt for a…

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India’s gems, jewellery exports may fall 10-15% in FY24: GJEPC

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India’s gems and jewellery exports are likely to decline by 10 to 15% in the current financial year on account of slowing demand in key markets like the U.S. and China, GJEPC Chairman Vipul Shah has said. The gems and jewellery exports grew 2.48% year-on-year to ₹3,00,462.52 crore (over $36 billion) in FY23, according to…

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