Retail sales (offline and online) during the festive season increased by about 15% year-on-year in 2024, much lower than 32% or so in 2023 and 88% in 2022, Nomura Global Research wrote in a note on Tuesday citing rough estimates based on anecdotal data. “Demand is holding up in rural areas and in tier-2/3 cities
India’s trade defence body Directorate General of Trade Remedies (DGTR) has recommended imposition of provisional anti-dumping duty of up to $339 per metric tonne on imports of PVC suspension resin from seven countries, including China and US. PVC suspension resin is the main raw material for rigid and flexible plastics. It is widely used for
GAIL (India) Ltd on Tuesday released its fiscal second quarter earnings with profit growth of 10.1 per cent YoY at Rs 2689.67 crore. The company had recorded a profit of Rs 2442.18 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 33,981.33 crore, up 2.8 per cent as against Rs
Jewellery and watchmaker Titan on Tuesday reported a 23.1% year-on-year decline in consolidated net profit to Rs 704 crore for the quarter ended September, missing Street estimates by a wide margin. The drop came amid a customs duty reduction announced during the Budget in July, the company said. A poll of analysts by Bloomberg had
India’s home textile industry is expected to record a revenue growth of 6-8 per cent this fiscal, following a 9-10 per cent rebound during the last fiscal, stated a report by CRISIL Ratings. The growth, it added, will be driven by resilient demand from the US, which is the key export destination, and also the
By Rodney Van Dooren Capital expenditure by the Government on infrastructure development, real estate, enhanced interconnectivity and other strategic initiatives play a critical role in spurring the economy. Investment across such key pillars stimulate economic growth, create jobs and attract investment. A critical enabler for this undertaking by the government is tax collection, which empowers
By Amit Jain India’s real estate sector stands at a crucial point where the need for sustainable development is becoming just as important as economic growth. Being one of the foundational pillars of the Indian economy, the real estate sector is key to the country’s overall progress. However, to maintain this growth while caring for
Bata India Limited reported its fiscal second quarter earnings report with profit at Rs 51.98 crore, registering a growth of 52.9 per cent in comparison to Rs 33.99 crore during the corresponding quarter of FY24. It posted revenue from operations at Rs 837.14 crore, up 2.2 per cent as against Rs 819.12 crore during the
Zomato’s much-anticipated year-end report for 2024 reveals fascinating shifts in India’s food preferences. While biryani continues its dominance, the trends suggest evolving appetites across the country. The year’s data highlights a shift towards homegrown favorites like dosa, alongside the steadfast love for biryani. While pizza’s dip hints at changing preferences, the food delivery scene remains
The Tamil Nadu government in 2024 took significant steps towards its goal of achieving a $1 trillion economy by 2030. It includes securing major investments and introducing sector-specific policies aimed at boosting growth. Additionally, the government focused on improving the ease of doing business and hosted its first Global Investors Meet (GIM), marking a key
Six of the top 10 most valued Indian companies collectively added Rs 86,847.88 crore to their market capitalisation last week, with Reliance Industries and HDFC Bank leading the gains. The broader market also saw positive momentum as the BSE Sensex climbed 657.48 points (0.84 per cent) and the Nifty rose 225.9 points (0.95 per cent) over
Investment Proof Submission for FY2024-25: During this time of the year, salaried employees are asked by their HR departments to submit their investment proof to prevent excessive tax deductions. Failing to do so may result in the long and difficult process of claiming tax refunds. You need to remember that it is the employee’s sole
– By Abhishek Mundada As we bring down the curtains for 2024, India witnessed several major tax reforms in the year with an aim to stimulate economic growth, create employment opportunities and enhance the ease of doing business. While these reforms underscored the Government’s objective, among other things, to simplify tax structure, reduce compliance burdens
