Financial Express Mumbai - April 16, 2024
Financial Express Mumbai - April 16, 2024
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In this issue
April 16, 2024
IMD showers good news
Says 90% chance of normal-to-excess rains
2 mins
Electric 2W sales crash
THE WITHDRAWAL OF subsidies under the Faster Adoption and Manufacturing of Electric Vehicles (FAME) II scheme has led to a sharp fall in the average daily sales of electric two-wheelers (e2Ws).
2 mins
Byju's India CEO resigns
Raveendran back in charge of daily ops
2 mins
Goods exports down 3.1% in FY24; prospects mixed
INDIA'S MERCHANDISE EXPORTS contracted 3.1% year on year in 2023-24 while imports shrank 5.3%, though the later months of the e year saw a pick-up in the twoway shipments.
2 mins
Steps soon to mitigate export impact of W Asia conflict
Impact of the Iran-Israel conflict on trade would be huge if the situation escalates
2 mins
Crude at $100 likely to push CPI by 60 bps, delay rate cut
THE PROBABILITY OF Brent crude price touching $100 a barrel in the backdrop of escalation of tensions in West Asia and remaining at that level in the near term could seriously alter key macro indicators.
2 mins
Europe, US ramp up calls for restraint after attack
EUROPEAN AND US officials increased their calls for Israel to restrain its response to Iran's drone and missile attack, in a bid to allay a wider military conflict.
1 min
Tesla to fire over 10% staff amid slow demand
TESLA IS SLASHING headcount by more than 10%, part of a global retrenchment extending all the way into its executive ranks as the carmaker struggles with slowing demand for electric vehicles.
1 min
Apple faces worst iPhone slump since pandemic
APPLE'S IPHONE SHIPMENTS slid a worse-than-projected nearly 10% in the quarter ended in March, reflecting flagging sales in China despite a broader smartphone industry rebound.
1 min
Tesla scouting for showroom space in Delhi, Mumbai
US ELECTRIC CARMAKER Tesla is looking at potential showroom locations in New Delhi and Mumbai ahead of plans to begin sales in India later this year, two people familiar with the discussions said.
1 min
Above-normal monsoon forecast boosts FMCG firms' rural hopes
THE PREDICTION OF good rains this year could spur rural recovery, fast-moving consumer goods (FMCG) companies said on Monday after the India Meteorological Department (IMD) forecast an above-normal monsoon this year.
1 min
Ola becomes first EV maker to beat legacy petrol player
OLA ELECTRIC HAS become the first EV startup to clock more sales in a month than a legacy petrol twowheeler player, highlighting the rising trend of EV adoption.
1 min
Banks push to grow deposits faster in bid to lower CD ratio
AFTER THE RESERVE Bank of India (RBI) raised concerns about the high credit-deposit (CD) ratio, banks have started taking steps to bring it down by growing deposits faster in the fourth quarter.
2 mins
West Asia tensions push key indices to two-week low
FIIs continue to withdraw, sell shares worth 3,268 crore
2 mins
Zomato stock beats peers with 2.6x run; analysts still upbeat
ZOMATO HAS OUTPACED gains in all the world's major delivery stocks over the past year, sending analysts scrambling to boost their outlooks for the Indian company as its profitability improves.
1 min
PM: Critics of electoral bonds, beware!
THE SCRAPPING OF the electoral bonds in a landmark decision by the Supreme Court in February is a decision \"everyone will regret when there is honest reflection\" and has \"completely pushed the country towards black money\", Prime Minister Narendra Modi told news agency ANI Monday.
3 mins
Pilibhit battle without BJP's Gandhis
LOCATED NEAR THE foothills of the Shivalik range, Pilibhit is a constituency where tractors dominate the roads more than any other vehicle and wheat, rice and sugarcane are grown in turns.
1 min
TCS: Limited near-term growth visibility
Aims for 6.3% to 7.3% y-0-y revenue growth during FY25-26
1 min
PNB Housing to focus on affordable housing
This will enrich the product portfolio and reduce impact on NIM
2 mins
Ambuja to buy grinding unit in TN
AMBUJA CEMENTS, AN Adani Group company, has signed an agreement to acquire My Home Group's 1.5 million tonne per annum (MTPA) cement grinding unit in Tuticorin, Tamil Nadu, for ₹413.75 crore.
1 min
At TCS, weak discretionary H demand a worry: Analysts
DESPITE POSTING A good set of numbers during the January-March quarter, analysts maintain that weak discretionary demand will remain a pain point for TCS.
1 min
Steel firms fall short of PLI target due to China delays
STEELMAKERS FELL SHORT of an investment target for the fiscal year to March 2024 due to a delay in importing machinery from China and securing visas for Chinese experts, according to a government document reviewed by Reuters and sources.
1 min
BJP looks at Tirunelveli to expand footprint in TN
WITH ITS MIX of prominent castes such as OBC Nadars and Thevars (including Maravars), a substantial presence of SCS/STS, and its large Muslim population, the Tirunelveli Lok Sabha constituency is a testing ground for the cross-caste consolidation the BJP is building to expand its footprint in Tamil Nadu.
1 min
Kejriwal to stay in jail; SC seeks ED reply by Apr 24
Judicial custody until April 23; SC to hear plea in week starting April 29
3 mins
Beset by hacks, Microsoft copes with cybersecurity
THE WORLD'S LARGEST seller of cybersecurity products has a problem with its own cybersecurity. In recent years, Microsoft has been hit with a series of embarrassing hacks that have exposed corporate and government customers.
1 min
Pandya's ticket to US, Caribbean hangs on how he bowls this IPL
HARDIK PANDYA'S COMEBACK to the Indian team for the T20 World Cup might well depend on how well and how often he bowls in the remainder of the IPL. In a meeting between India head coach Rahul Dravid, chairman of the selection committee Ajit Agarkar and captain Rohit Sharma at the BCCI headquarters in Mumbai last week, it's understood that a decision was taken that Hardik has to bowl regularly if he wants to make a comeback.
2 mins
Financial Express Mumbai Newspaper Description:
Publisher: The Indian Express Ltd.
Category: Newspaper
Language: English
Frequency: Daily
The Financial Express brings the latest and breaking business news from Markets and Industries in India.
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