NOV 5
Hurricane Beryl grows to Category 5 strength as it razes southeast Caribbean islands
Beryl made landfall on the island of Carriacou in Grenada as the earliest Category 4 storm in the Atlantic, then late in the day the National Hurricane Center in Miami said its winds had increased to 160 mph (260 kph). Fluctuations in strength were likely in the coming days as the storm pushed further into the Caribbean.
India's industrial production growth rises to 3.8% in Dec from 2.4% in Nov
India's industrial production increased to 3.8% in December 2023, up from 2.4% in November, according to data from the Ministry of Statistics and Programme Implementation. Factory output growth was 5.1% in December 2022, while IIP growth was 6.1% during April-December 2023-24. Power generation and mining output declined by 1.2% YoY and 6.8% YoY respectively. The manufacturing sector saw a 3.9% YoY growth in December 2023, while capital goods and consumer durables saw growth.
Reliance Jio and Bharti Airtel to continue gaining share at Vi's expense
Bharti Airtel and Reliance Jio are gaining market share at the expense of Vodafone Idea as 5G becomes mainstream, according to analysts. Reliance Jio added 3.4 million subscribers in November, while Bharti Airtel added 1.7 million. Vodafone Idea lost over a million customers. Jio and Airtel now have market shares of 39.5% and 32.9% respectively, while Vodafone Idea's share declined to 19.4%.
State revenue grows 5% till Nov against 17.4 budgeted for FY24: Report
The growth rate of the combined revenue receipts of the 16 largest states has fallen by almost 80 per cent to 5 per cent during April-November. The states have so far borrowed over 37 per cent more than they did last fiscal and given these poor numbers, they will have to borrow heavily this fiscal to service their debt and pay salaries and pensions.
Formal job creation under ESIC fell 7.5% to 1.59 mn in Nov: Payroll data
Formal job creation under the Employees’ State Insurance Corporation (ESIC) fell 7.5% in November, with 1.59 million new employees added. This is the lowest new subscriber addition under ESIC in the current fiscal. Around 20,830 new establishments have been registered and brought under the social security umbrella of ESIC in November, ensuring more coverage.
India's industrial production growth drops to 2.4% in Nov from 11.7% in Oct
India's industrial production increased by 2.4% annually in November, compared to an 11.7% increase in October, according to government figures released on Friday. As of November 2022, the index of industrial output (IIP) had increased by 7.6%.
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India's exports to Australia up 14 pc during Apr-Nov, thanks to trade agreement
India's exports to Australia surged 14% to USD 5.8 billion from April-November, benefiting engineering, pharma, and electronics sectors due to the free trade pact initiated last December. Negotiations for a broader trade deal are progressing, focusing on detailed rules of origin. Australian FDI in India rose from USD 30-40 million to USD 300 million this year. However, Indian imports from Australia fell by 19%, totaling USD 11.14 billion. Key growth sectors include engineering, pharma, and electronics, diversifying India's trade basket with Australia.
Retail inflation for industrial workers rises marginally to 4.98% in Nov
Retail inflation for industrial workers in India increased to 4.98% in November, mainly due to higher prices of certain food items. Food inflation stood at 7.95%, compared to 6.27% in October 2023 and 4.30% in November 2022. Year-on-year inflation for the month stood at 4.98% in November.
India's key infra sectors' growth slows to 7.8% in Nov from 12.1% in Oct
In November, India's eight key infrastructure sectors witnessed a year-on-year growth of 7.8%, down from the previous month's 12.1%, according to the Ministry of Commerce & Industry. The Eight Core Industries (ICI) index had grown by 5.7% in November 2022. Positive growth was observed in coal, electricity, fertilizers, natural gas, refinery products, and steel.
Gem, jewellery exports dip by 4.52 pc in Nov to Rs 19,018 cr: GJEPC
In November, India's gem and jewellery exports decreased by 4.52% YoY to Rs 19,018.18 crore (USD 2,263.34 million), marking an improvement from the previous year. The Gem and Jewellery Export Promotion Council (GJEPC) attributes the decline to supply disruptions and a voluntary halt in rough diamond imports due to geopolitical issues. GJEPC Chairman Vipul Shah anticipates further improvement, citing heightened festival demand and expects FY24 exports to surpass the previous financial year.
These 5 sectors saw highest FII outflows in 2nd half of Nov
FPIs sold shares to the tune of Rs 5,935 crore across 12 sectors on average between November 16 and 30. Here's a look at the top five sectors that saw the highest FII selling in the second half of November:
White-collar hiring falls 12% in Oct-Nov: Naukri JobSpeak Index
Oil & gas, pharma and insurance were among sectors that exhibited job growth from a year earlier during the two-month period. In the IT sector, one of the largest employers in India, hiring fell year-on-year, but month-on-month data suggest a stabilisation in activity.
Passenger vehicle & two-wheeler sales grow in November on festive demand
According to industry estimates, about 335,354 cars, sedans and utility vehicles were dispatched from factories to dealerships last month, an increase of 3.9% over 322,600 units sold in the same period last year. Industry numbers were supported by market leaders Maruti Suzuki and Hyundai Motor India which reported a growth of 1.3% (134,158 units) and 3.1% (49,451 units), respectively last month.
India's power consumption grows 8.5% to 119.64 billion units in Nov
Power consumption in India increased by 8.5% to 119.64 billion units in November, largely due to festive events and economic activities. The peak power demand reached 204.60 GW, while the peak supply reached 187.34 GW in November 2022 and 166.10 GW in November 2021. The peak supply reached 224.1 GW in June, dropping to 209.03 GW in July.
India benchmark yield sees biggest monthly drop in six in Nov
"The sudden drop in Treasury yields in November has led to similar movement in Indian bond yields, though the magnitude is not similar," said VRC Reddy, treasury head at Karur Vysya Bank.
Campaigning ends as Telangana gets set to vote on Nov 30
Tuesday, marking the end of the longest campaign period among the five states holding assembly elections. Chief Electoral Officer Vikas Raj highlighted various restrictions during the tranquil period, allowing voters to reflect on their choices. The state has 3.26 crore eligible voters, and prohibitory orders under section 144 of CrPC are in place.
Negative Breakout on Nov 24: These 5 stocks close cross below their 200 DMA
In the Nifty 200 pack, five stocks' close prices crossed below their 200 DMA (Daily Moving Averages) on November 24, according to stockedge.com's technical scan data. Trading below the 200 DMA is considered a negative signal because it indicates that the stock's price is below its long-term trend line. The 200 DMA is used as a key indicator by traders for determining the overall trend in a particular stock. Take a look:
FPIs reverse selling trend ; invest Rs 378 crore in equities in Nov
Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period.
India vs Australia 5-match T20 series starts from Nov 23. Dates, venues, timing and where to watch live
India vs Australia T20 series: As the 2023 ODI World Cup came to a close on Sunday, cricket fans would be shifting their attention to the upcoming T20 series between finalists India and Australia, commencing from November 23. The spotlight now shifts to the 2024 T20 World Cup in West Indies and the US. India has announced its squad and Suryakumar Yadav will lead the team, given Hardik Pandya's injury. Australia's squad, led by Matthew Wade, includes key players from the ODI team that won the ODI World Cup.
NASA, SpaceX to send mission with over 5,800 pound cargo to ISS on Nov 9
The spacecraft is expected to spend about a month attached to the orbiting outpost before it returns to Earth with research and return cargo, splashing down off the coast of Florida, according to the space agency.
Over 2,500 Mumbai local trains to be cancelled from Oct 27 to Nov 5. Here are details
Over 2,500 local train services in Mumbai will be cancelled from October 27 to November 5, as Western Railway (WR) implements blocks for commissioning. The cancellations will affect train services towards Virar and Churchgate. The 6th line project aims to enhance the carrying capacity of the suburban train network. Divided into three phases, the project is estimated to cost Rs 918 crore.
Govt expects over Rs 75,000 crore investment during World Food India to be held from Nov 3-5
"We have requested Prime Minister (Narendra Modi) to inaugurate World Food India (WFI) 2023 to be held at Pragati Maidan here. For the valedictory function, the President of India will be present," Minister of State for Food Processing Industries Prahlad Singh Patel said.
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