Business News Live: Stock Market Closed Today, US CPI Jumps 0.4% In March

Background

Global Goods Trade Volume Likely To Fall By 1.2% In 2024: GTRI

Damson Tech Set To Shift Smart Gadgets Production To India

Damson Technologies, a lifestyle and mobile accessories manufacturer intends to relocate 50 per cent of its manufacturing operations from China to India. Ritesh Goenka, the Managing Director of Damson Technologies, told the news agency PTI that the company plans to initiate this transition with an initial investment of Rs 150 crore in the ongoing fiscal year. Previously centred in Beijing, the company’s electronics manufacturing services will now be divided between China and India. 

SBI Denies Request To Release Electoral Bonds Information Under RTI Act

Analyst Predicts Telecom Tariff Hike Post-Election Of Around 15-17%

The telecom industry is expected to experience a 15-17 per cent tariff increase following the general elections, with Airtel positioned as the primary beneficiary, according to an analyst report. The elections, scheduled in seven phases between April 19 and June 1 in the world’s largest democracy, will announce results on June 4. “We anticipate a 15-17 per cent tariff hike in the industry post-elections,” stated a report from Antique Stock Broking.

Vistara CEO Says, Worst Is Behind Us, Operations Stable

Vistara CEO Vinod Kannan assured the airline staff on Thursday that the worst is now behind them, emphasising that operations have successfully stabilised following recent flight disruptions. Pilot challenges compelled the Tata Group airline to temporarily reduce capacity by 10 per cent, equivalent to 25-30 flights daily. Though acknowledging the need for better planning, Kannan framed the ordeal as a valuable learning opportunity.

Govt Extends Special Registration, Return Filing Deadline For Pan Masala, Gutkha Companies Until May 15

The government has decided to extend the deadline for the enforcement of a special registration process and monthly return submission for manufacturers of pan masala, gutkha, and analogous tobacco items until May 15. In January, the Central Board of Indirect Taxes and Customs (CBIC) had previously disclosed the launch of a fresh registration mechanism and monthly return submission, slated to start on April 1, 2024.

India’s Economic Performance Positive, Sustaining Efforts Vital: Sanjeev Sanyal

India’s Corporate Earnings Growth Displays Contraction Signals

Indian markets could face a period of earnings contraction alongside valuations exceeding the norm, according to Analysts’ suggestions. According to Vinod Nair, Head of Research at Geojit Financial Services, earnings growth in India is displaying indications of contraction. He anticipates that earnings per share (EPS) growth will likely decelerate to 5-10 per cent in the fourth quarter compared to the robust 25 per cent seen between April and December 2023.

Asian Development Bank Raises India’s FY25 GDP Growth Forecast to 7%

NSE’s Ashish Chauhan, Zoho’s Sridhar Vembu Appointed As UGC Members

The Ministry of Education announced in a recent notification the appointment of Ashish Kumar Chauhan, the MD and CEO of the National Stock Exchange (NSE), and Sridhar Vembu, the CEO of Zoho Corporation, as members of the University Grants Commission (UGC) for a three-year tenure. Additionally, the ministry said that the appointment of two other members for the same duration: Professor (Retd) Sachidananda Mohanty, former VC of the Central University of Odisha, and Professor Shashikala Gulabrao Wanjari, VC of the National Institute of Educational Planning and Administration (NIEPA), New Delhi.

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Abhinav Mehrotra