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    RBI Says 76% Of Rs 2,000 Notes Valued At Rs 2.72 Lakh Crore Returned...

    MARKETS Bazar Observer -
    Mumbai- As much as 76 per cent of the Rs 2,000 currency notes in circulation have either been deposited or exchanged at banks, the...
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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 Manufacturing Sector Activity Eases In June: PMI

    MARKETS Bazar Observer -
    New Delhi- Manufacturing sector activities in India moderated in June from a 31-month high in May, but output remained in the growth territory, as...
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    Parliament Passes Bill To Amend Law Governing Oilfields Development

    Saudi Arabia, Russia Are Cutting Oil Supply Again In Bid To Boost Prices

    MARKETS Bazar Observer -
    London- Saudi Arabia and Russia are extending cuts to the amount of oil they pump to the world in a bid to prop up...
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    Tomato Prices Shoot Up Across The Country, The Reason Is…

    MARKETS Bazar Observer -
    New Delhi- Tomato prices are burning a hole in common people's pockets with the vegetable being sold at ₹ 80-100 per kg in some...
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    Kashmir Fruit Growers Seek Revision Of 20% Duty Waiver On American Apple

    MARKETS Bazar Observer -
    Srinagar- The Centre’s decision to remove 20 per cent retaliatory import duty on American apples will pile on difficulties for the already stressed Kashmiri horticulture...
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    S&P Retains FY24 India Growth Projection At 6%, To Be Fastest Growing In Asia...

    MARKETS Bazar Observer -
    NEW DELHI- S&P Global Ratings on Monday retained India's GDP growth forecast at 6 per cent saying it will be the fastest-growing economy among...
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    Mcap Of 6 Of Top-10 Most Valued Domestic Firms Erodes By Rs 1 Lakh...

    MARKETS Bazar Observer -
    New Delhi- Six of the top 10 most valuable domestic companies suffered a combined decline of Rs 1,02,280.51 crore in market valuation last week...
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    More Than Two-Thirds Of Rs 2,000 Notes Returned Within A Month Of Withdrawal: RBI...

    MARKETS Bazar Observer -
    Mumbai- Reserve Bank Governor Shaktikanta Das has said that within a month of the recall order, more than two-thirds of the Rs 2,000 currency...
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    Indians’ Funds In Swiss Banks Down 11% To Rs 30k Cr On Dip In...

    MARKETS Bazar Observer -
    New Delhi/Zurich- Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, declined by 11 per...
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    Fitch Ups India’s FY24 GDP Growth Forecast To 6.3% On Stronger Momentum

    MARKETS Bazar Observer -
    New Delhi-  The Indian economy is expected to clock a higher growth of 6.3 per cent --one of the highest in the world --...
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