According to analyst reports, the telecom industry is expected to see a 15-17% price increase after the general election, with Airtel positioned as the main beneficiary. The elections in the world’s largest democracy are scheduled in seven stages from April 19 to June 1, with results announced on June 4. “Post-election, the industry is expected to see a 15-17% tariff increase,” the Antiques report said. Stock brokerage.
Vistara CEO Vinod Kanan assured airline staff on Thursday that the worst is over, stressing that operations are stabilizing nicely following recent flight disruptions. Pilot challenges have forced Tata Group airlines to temporarily reduce capacity by 10 per cent, which equates to 25-30 flights per day. While Kannan acknowledged the need for better planning, he characterized the ordeal as a valuable learning opportunity.
The government has decided to extend the special registration process and monthly return filing deadline for manufacturers of pan masala, gutkha and similar tobacco products to May 15. In January, the Central Board of Indirect Taxes and Customs (CBIC) had earlier revealed a new registration mechanism and start of monthly return filing scheduled to start on April 1, 2024.
Analysts have suggested that the Indian market could face a period of profit contraction along with above-average valuations. According to Vinod Nair, head of research at Geojit Financial Services, India’s revenue growth is showing signs of contraction. He said earnings per share (EPS) growth is likely to slow to between 5% and 10% in the fourth quarter, compared to a robust 25% from April to December 2023. I predict that.
In a recent notification, the Education Ministry said Ashish Kumar Chauhan, MD and CEO of the National Stock Exchange (NSE) and Sridhar Vembu, CEO of Zoho Corporation announced that he has been appointed as a member of the University Grants Commission (UGC). 3 year tenure. Additionally, the ministry announced that two other members have also been appointed for the same term. namely, Prof. Sachidananda Mohanty, former VC of Orissa Central University (Retd) and Prof. Shashikala Gulabrao Wanjari, VC of National Institute of Educational Planning and Management ( NIEPA), New Delhi.
Naver Cloud, the cloud computing arm of South Korean technology company Naver, announced Thursday that it will collaborate with U.S. chipmaker Intel to establish an artificial intelligence (AI) chip software ecosystem. As revealed by Navercloud, as part of the partnership, the two companies will provide IT infrastructure powered by Intel’s AI accelerator Gaudi to accelerate AI research projects and software development for Korean startups and universities. do.
Airfares on major domestic routes such as Kolkata-Bagdogra, Delhi-Bengaluru and Delhi-Mumbai rose by up to 12.7% year-on-year in May this year, according to data from Thomas Cook (India) and SOTC Travel. . Industry experts attribute the recent hike in airfares to higher aviation turbine fuel prices, a weaker rupee, reductions in flight schedules by major players and grounding of planes due to engine supply issues.
Tesla CEO Elon Musk formally announced his next visit to India late Wednesday night, confirming plans for a meeting with Prime Minister Narendra Modi. Musk expressed his expectations to X, saying he is “looking forward to meeting Prime Minister Narendra Modi in India.”
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Trading activities will continue to be suspended on Thursday as the stock market will be closed on account of Gudi Padwa.
In Wednesday’s pre-trade, both the major stock indexes Sensex and Nifty ended the day in positive territory, with the stock market mostly trading within a narrow range. S&P BSE Sensex rose 345 points to 75,038. Similarly, NSE Nifty50 rose 111 points to close at 22,754.
An unexpected rise in U.S. retail inflation in March pushed back expected Federal Reserve interest rate cuts until June or later, roiling stock markets and pushing bond yields higher. Experts have suggested that a rate cut in June is likely to be difficult at this point.
The US Consumer Price Index (CPI) rose 0.4% month-on-month in March, reflecting February’s growth rate. The CPI increase rate in March was 3.5% compared to the same month last year, up from 3.2% in February. These figures exceeded expectations in a Reuters poll on both a monthly and annual basis.
Further, equity mutual funds ended the financial year 2023-24 on a positive note with net inflows of Rs 22,633 crore in March. This was driven by significant interest in thematic funds and the introduction of new fund offerings (NFOs). However, the latest inflows were 16% lower than the Rs 26,866 crore inflows observed in the previous month, according to Association of Mutual Funds of India (AMFI) data released on Wednesday.
In March, monthly inflows from systematic investment plans (SIPs) reached a new peak of Rs 19,270 crore from Rs 19,187 crore in February. His total donation to SIP amounted to Rs 200,000, an increase of 28% over the previous year.
