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Articles for Fy2023

Mahindra & Mahindra refutes reports of penalty for emission norms violations
3 weeks, 3 days ago

Mahindra & Mahindra refutes reports of penalty for emission norms violations

Live Mint  

Mahindra & Mahindra has denied claims that it faces penalties for failing to meet emission norms during the financial year 2022-23. Mahindra dismissed the claims, stating, “Any reference in the news article about penalty imposed on the company is factually incorrect.” The controversy is linked to compliance with the Corporate Average Fuel Efficiency norms regulating vehicle emissions. The company explained …

Mahindra Penalties Act Emission Fy2023 Cafe Norms
Chinese share of Indian yarn exports more than double in FY24
5 months, 3 weeks ago

Chinese share of Indian yarn exports more than double in FY24

Deccan Chronicle  

Chennai: Increase in yarn exports in FY24 saw the share of shipments to China rise from 10 per cent in FY23 to 21 per cent in FY24. Cotton yarn exports rose by 83 per cent in FY24. Bangladesh, China, and Vietnam collectively account for 60 per cent of Indian cotton yarn exports. In FY2024, cotton fibre prices declined by 25 …

India China Bangladesh Indian Prices Exports Cotton
Thai banks are the top suppliers of financial services to Myanmar’s military, UN expert says
5 months, 3 weeks ago

Thai banks are the top suppliers of financial services to Myanmar’s military, UN expert says

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Thai banks have become the …

Singapore Military Financial Financial Services Myanmar Report Thai
Thai banks are the top suppliers of financial services to Myanmar’s military, UN expert says
5 months, 3 weeks ago

Thai banks are the top suppliers of financial services to Myanmar’s military, UN expert says

Associated Press  

BANGKOK — Thai banks have become the main supplier of international financial services for Myanmar’s military government, enabling it to purchase goods and equipment to carry out its increasingly bloody war against pro-democracy resistance forces and armed ethnic minority groups, a U.N. expert said in a report issued Wednesday. It says the junta, formally known as the State Administration Council, …

Singapore Military Financial Financial Services Myanmar Report Thai
Domestic air passenger traffic grows 5.1% to about 138.9 million in May: ICRA
6 months, 2 weeks ago

Domestic air passenger traffic grows 5.1% to about 138.9 million in May: ICRA

The Hindu  

Domestic air passenger traffic grew 5.1% year-on-year to an estimated 138.9 million in May and was significantly higher by around 14 per cent than pre-COVID levels, credit ratings agency ICRA said on Thursday. According to the agency, the domestic air passenger traffic for FY24 was around 154 million, with a year-on-year growth of around 13%. It thus surpassed the pre-COVID …

Traffic Airlines Indian Air Passenger Levels Fy2024
India's Net Direct Tax Collections Rise 20 Per Cent to Rs 18.9 Lakh Crore
9 months ago

India's Net Direct Tax Collections Rise 20 Per Cent to Rs 18.9 Lakh Crore

ABP News  

The direct tax collection of the Centre after adjusting for refunds has grown 19.88 per cent annually to Rs 18.9 lakh crore in FY2023-24, compared to the corresponding period of the preceding Financial Year, where collections amounted to Rs 15.7 lakh crore. This substantial rise in net collections primarily comprises Corporation Tax at Rs 9.1 lakh crore and Personal Income …

India Tax Direct Tax Collections Crore Direct Cent Lakh
Dixon Technologies: Preparing to ride a second growth wave
1 year ago

Dixon Technologies: Preparing to ride a second growth wave

Live Mint  

For Dixon Technologies, the latest edition of the government’s production-linked incentive scheme is expected to be a significant shot in the arm, especially considering how India’s largest home-grown electronics manufacturer capitalised on the earlier version. Dixon Technologies serves as a contract manufacturer for a wide range of products–including LED TVs, lighting products, semi-automatic washing machines, and mobile phones–for leading brands. …

Company Crore Pli Dixon Fy2023 Dixon Technologies Second Growth
Markets Mojo picks LIC Housing as ‘stock of the month’ for October; 6 reasons why
1 year, 2 months ago

Markets Mojo picks LIC Housing as ‘stock of the month’ for October; 6 reasons why

Live Mint  

After an over 41 percent surge between April and September, brokerage house Markets Mojo picked LIC Housing Finance as its top pick for the month of October. The management indicated that loan book growth could be at 12-15 percent in the current financial year as against 9 percent of FY2023, noted the brokerage. NIM: Despite LIC Housing Finance seeing its …

Business Housing Loan Company Stock Brokerage Lic
T.N.’s foreign direct investment inflows fell 27.7% to $2.17 billion in 2022-23
1 year, 4 months ago

T.N.’s foreign direct investment inflows fell 27.7% to $2.17 billion in 2022-23

The Hindu  

Tamil Nadu’s Foreign Direct Investment inflows declined 27.7% to about $2.17 billion in the financial year 2022-23 from $3 billion in 2021-22, as per data shared in Parliament recently. Many other key States, except for Gujarat, have India’s FDI inflows as a whole, declined 16.34% to $70.97 billion in 2022-23 from $84.84 billion in 2021-22, as per the provisional figures …

India Tamil Nadu States Gujarat Investment Projects Tamil
ICICI Lombard’s Q1 results: Net profit up 12%, gross premium income up 20%
1 year, 5 months ago

ICICI Lombard’s Q1 results: Net profit up 12%, gross premium income up 20%

Live Mint  

On Tuesday, July 18, the private non-life insurance provider ICICI Lombard General Insurance Company announced a 12% year-over-year increase in net profit at ₹390.4 crore for the three months that ended June 30, 2023. The Company's Gross Direct Premium Income for Q1 FY2024 was ₹63.87 billion, showing a growth of 18.9% compared to ₹53.70 billion in Q1 FY2023. When excluding …

Growth Billion 2023 Fy2023 Fy2022 Q1 Fy2023 Q1 Fy2024
Growth in India is expected to slow to 6.3% in FY2023: World Bank
1 year, 6 months ago

Growth in India is expected to slow to 6.3% in FY2023: World Bank

The Hindu  

Growth in India is expected to slow to 6.3 % in FY 2023/24, a 0.3 percentage point downward revision from January, the World Bank said Tuesday but noted there is an unexpected resilience in private consumption and investment and robust growth in the services. “Growth in India is expected to slow further to 6.3 % in FY 2023/24, a 0.3 …

India Growth World Bank World Bank Consumption 2023
Icra lowers steel price forecasts for FY24 as Chinese exports weigh on market
1 year, 6 months ago

Icra lowers steel price forecasts for FY24 as Chinese exports weigh on market

Live Mint  

New Delhi: Steel prices have been on a decline since the beginning of FY2024, with domestic hot rolled coil prices plummeting 3.8% in the current quarter due to falling Chinese exports, rating agency Icra said in a report on Thursday. Icra has revised its baseline steel price predictions for FY2024, forecasting an average year-on-year decrease of 4-5% in domestic HRC …

India Prices Domestic Steel Price Chinese Fy2024
ICICI Lombard’s share price dips over 4% as brokerages trim target price
1 year, 8 months ago

ICICI Lombard’s share price dips over 4% as brokerages trim target price

Live Mint  

General insurance company, ICICI Lombard on Wednesday shed more than 4% on exchanges after brokerages trimmed their target price for the company following Q4 numbers. At the time of writing, ICICI Lombard's share price traded at ₹1083.15 apiece down by ₹47.40 or 1.2% on BSE. Emkay Global analysts in their note said, "ICICI Lombard logged a satisfactory performance in Q4FY23, …

Market Regulatory Price Stock Share Emkay Target Price
ICICI Lombard records 40% rise in Q4 PAT, declares dividend
1 year, 8 months ago

ICICI Lombard records 40% rise in Q4 PAT, declares dividend

Live Mint  

ICICI Bank-backed general insurance arm, ICICI Lombard on Tuesday beats estimates in terms of profitability for the fourth quarter of FY23. The company posted premium earned of ₹3,726.03 crore in Q4FY23 compared to ₹3,317.78 crore in Q4FY22 and ₹3,792.05 crore in Q3FY23. The company's gross direct premium income came in at ₹49.77 billion in Q4 FY2023 as against ₹ 46.66 …

Crore Fy2023 Fy2022 Icici Lombard Q4Fy23
India To Witness Record High Merchandise Exports Of $447.3 Bn During FY2023
1 year, 9 months ago

India To Witness Record High Merchandise Exports Of $447.3 Bn During FY2023

News 18  

Export-Import Bank of India has said India’s total merchandise exports to consistently remain above $100 bn for the fourth consecutive quarter of FY2023, amounting to $110.9 bn, while non-oil exports are forecast to amount to $87.7 bn during the same period. India’s exports could be shadowed by deepening global energy crisis, tighter global monetary and financial conditions, continued slowdown in …

India Exports Forecast Exim Bank Fy2023
India Inc's Q3 Margins Increase Sequentially Despite Subdued Revenue Growth: ICRA
1 year, 9 months ago

India Inc's Q3 Margins Increase Sequentially Despite Subdued Revenue Growth: ICRA

News 18  

India Inc’s operating profit margin expanded 180 basis points sequentially to 16.3 per cent q-o-q during the December 2023 quarter despite subdued sequential revenue growth of 1.4 per cent, according to an analysis by ratings agency ICRA. The report revealed expectedly positive revenue trends, with a YoY growth of 17.2 per cent, despite subdued sequential revenue growth of 1.4 per …

India Growth Input Costs Commodity Prices Revenue Yoy Margin
Economic Survey 2023: Decoupling of India’s Economy from Global Headwinds Needs Calibrated Action - News18
1 year, 10 months ago

Economic Survey 2023: Decoupling of India’s Economy from Global Headwinds Needs Calibrated Action - News18

News 18  

India’s Finance Minister Nirmala Sitharaman today, a short while after the first address of President Draupadi Murmu, to the joint session of the Parliament, presented her fifth Economic Survey, ahead of her last full Union Budget of the present government to be presented in the Lok Sabha, on February 1. The 414 pages 12-chapter long sprawling Economic Survey takes a …

India Economy Growth Infrastructure Indian Economic Country
Market Borrowings of Centre, States Seen At Rs 24.4 Lakh Crore In FY2024: ICRA
1 year, 11 months ago

Market Borrowings of Centre, States Seen At Rs 24.4 Lakh Crore In FY2024: ICRA

News 18  

The government will peg its fiscal deficit in the FY2024 Budget Estimates at 5.8 per cent of the GDP, a healthy moderation from the 6.4 per cent of GDP projected for FY2023, according to a report by ratings agency ICRA. Aditi Nayar, chief economist and head of ICRA, said, “With a global growth slowdown looming large, the FY2024 Union Budget …

Growth Market Cent Gdp Fiscal Deficit Goi Fy2024
India's April-November 2022 Fiscal Deficit Hits 58.9% Of Full-FY23 Target; Details Here
1 year, 11 months ago

India's April-November 2022 Fiscal Deficit Hits 58.9% Of Full-FY23 Target; Details Here

News 18  

India’s fiscal deficit during April-November 2022 stood at Rs 9.78 lakh crore, or 58.9 per cent of the full-financial year target, according to the latest official data released on Friday. According to the latest data from the Controller General of Accounts, the Centre’s total expenditure during April-November 2022 stood at Rs 24,42,787 crore, which is 61.9 per cent of the …

India Tax Crore Cent Target 2022 Trillion
Indian banks to see record credit growth of over ₹19 trillion in FY23: Icra
2 years ago

Indian banks to see record credit growth of over ₹19 trillion in FY23: Icra

Live Mint  

New Delhi: Indian banks are likely to witness a record high credit growth, surpassing the ₹19 trillion in the current fiscal year, domestic rating agency Icra said on Monday. Further, the growth momentum is expected to remain strong in FY2024 as well, even though rising interest rates and tight liquidity conditions could moderate the growth,” said Anil Gupta, senior vice …

Growth Credit Remain Fy2024 Icra Credit Growth Fy2023
India's Fiscal Deficit At Rs 7.58 Lakh Crore In April-October 2022; 45.6% Of Full-Year Target
2 years ago

India's Fiscal Deficit At Rs 7.58 Lakh Crore In April-October 2022; 45.6% Of Full-Year Target

News 18  

India’s fiscal deficit during April-October 2022 stood at Rs 7.58 lakh crore, or 45.6 per cent of the full-fiscal target, according to the official data released on Wednesday. During April-September 2022, the central government’s fiscal deficit had touched 37.3 per cent of the full-year target or Rs 6.19 lakh crore. The fiscal deficit in FY2023 is unlikely to exceed the …

India Tax Crore Cent Lakh Target Fiscal Deficit
What is the state of the Indian economy today?
2 years, 3 months ago

What is the state of the Indian economy today?

Hindustan Times  

India’s Gross Domestic Product expanded by 13.5% on a year-on-year basis in the first quarter of the fiscal year 2023, largely in line with our projections. GDP growth in the previous quarter was driven by a surge in consumption demand, with private final consumption expenditure surging by 25.9% YoY — this alone contributed as much as 14 percentage points to …

India Growth Yoy 2022 Gdp Q1 Fy
GDP growth projected to spike to four-quarter high 13.0 per cent in Q1 FY2023, says ICRA
2 years, 3 months ago

GDP growth projected to spike to four-quarter high 13.0 per cent in Q1 FY2023, says ICRA

India TV News  

Highlights GDP growth is expected to expand in double digits at 13 per cent in Q1FY23 It's due to low base in contact-intensive sectors following widening vaccination coverage: ICRA Gross value added at basic price in Q1FY23 is projected at 12.6 per cent from 3.9 per cent earlier Business news : GDP growth is expected to expand in double digits …

Growth Cent Gdp Gdp Growth Per Cent Icra Fy2023
Higher coal imports likely to increase cost for discoms by 4.5-5% in FY23: ICRA
2 years, 7 months ago

Higher coal imports likely to increase cost for discoms by 4.5-5% in FY23: ICRA

Live Mint  

Consumers should brace up to pay more for the electricity they are consuming during the ongoing period of power crisis as increased use of expensive imported coal in generation is expected to elevate the cost of supply by up to 5% in the current fiscal year 2022-23. The higher share of imports for thermal generation under a pass-through arrangement as …

India Supply Power Coal Price Imports Cost