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    Festive Season Propels Petrol, Diesel Demand To Highest In Four Months

    MARKETS Bazar Observer -
    New Delhi- Petrol and diesel sales in India jumped to a four-month high in October, as the festive season brought back demand that had...
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    LG Inaugurates UMEED Market Place At Srinagar International Airport

    MARKETS Bazar Observer -
    Srinagar- Lieutenant Governor Manoj Sinha inaugurated "UMEED Market Place" under AVSAR Scheme of Airport Authority of India at Srinagar International airport on Wednesday. A similar...
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    Rupee snaps 5-day winning streak, drops 11 paise against USD

    MARKETS Bazar Observer -
    Mumbai: Halting its five-session winning run, the rupee on Monday declined by 11 paise to close at 74.26 (provisional) against the US dollar, tracking...
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    New Delhi, Jan 3 (PTI) India's manufacturing sector growth fell to an 18-month low in December amid softer increase in factory orders and output, despite minimal inflation, a monthly survey said on Wednesday. The HSBC India Manufacturing PMI survey, conducted by S&P Global, showed that there were softer, albeit sharp, increase in factory orders and output, while business confidence towards the year-ahead outlook strengthened. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 56 in November to an 18-month low of 54.9 in December. In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction. The HSBC India Manufacturing PMI is compiled by S&P Global from responses to questionnaires sent to purchasing managers in a panel of around 400 manufacturers. "India's manufacturing sector continued to expand in December, although at a softer pace, following an uptick in the previous month. Growth of both output and new orders softened, but on the other hand, the future output index rose since November," said Pranjul Bhandari, Chief India Economist at HSBC. Despite a loss of growth momentum, the sector still expanded strongly in December. New business gains, favourable market conditions, fairs and expositions collectively induced another sharp increase in manufacturing production during December, according to panellists. The December data showed a 21st consecutive increase in international order receipts at goods producers in India. "Companies noted gains from clients in Asia, Europe, the Middle East and North America. New export sales expanded at a moderate pace that was the joint-slowest in eight months," the survey noted. On the prices front, input costs rose at the second-slowest rate in nearly three-and-a-half years and charge inflation softened to a nine-month low. Among the items reported to have been up in price were chemicals, paper and textiles. Little-changed from November, however, the rate of inflation was negligible by historical standards and was the second-weakest in just under three-and-a-half years, as per the survey. "Rates of increase in input and output prices were broadly unchanged," Bhandari added. HSBC India PMI data showed a general lack of pressure on the capacity of manufacturers at the end of the third fiscal quarter. Subsequently, employment was largely stable in December. When assessing the year-ahead outlook for production, Indian manufacturers were at their most upbeat for three months. Anecdotal evidence highlighted advertising, better customer relations and new enquiries as the main factors boosting business confidence in December, the survey said.

    India’s Mfg PMI Hits 3-Month High In Nov Amid Expansion In Production, Slowdown In...

    MARKETS Bazar Observer -
    New Delhi- Manufacturing activities in India touched a three-month high in November as new orders and exports expanded boosted by demand resilience and substantial...
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    ‘Vegetable Prices Likely To Cool Down, Rising Crude A Bit Of Concern’

    MARKETS Bazar Observer -
    NEW DELHI- The government expects vegetable prices to start cooling off from next month with the advent of new crops in the market, but...
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    India’s Forex Reserves Increase USD 1.9 Bn to USD 642 Bn

    Forex Bazar Observer -
    Mumbai- India's forex reserves have increased by USD 1.919 billion to USD 642.019 billion for the week ended October 29 on a healthy increase...
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    Rupee surges 17 paise to close at 74.22 against US dollar

    MARKETS Bazar Observer -
    Mumbai: (PTI) The rupee gained 17 paise to close at 74.22 (provisional) against the US dollar on Monday, supported by a firm trend in...
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    Windfall Profit Tax On Crude Oil, Diesel Exports Cut

    MARKETS Bazar Observer -
    New Delhi- The government on Thursday cut the windfall profit tax on crude oil produced in the country and on exports of diesel in...
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    India’s Services Sector Growth Climbs To Near 13-Year High In April: PMI

    MARKETS Bazar Observer -
    New Delhi- India's services sector growth accelerated in April, as strong demand conditions resulted in the fastest increase in new business and output in...
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    Indian Companies Will Soon Be Allowed To Directly List Securities Overseas: FM Sitharaman

    MARKETS Bazar Observer -
    Mumbai- The government has decided to allow domestic companies to list overseas to help them access capital from the world markets, Finance Minister Nirmala...
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