BUSINESS
DGCA gives nod to Zooom airlines to commence operations
Zooom airlines or Zexus Air, initially established in April 2013, acquired its first aircraft, a Bombardier CRJ200.
Markets have given subdued returns when Nifty P/E ratio more than 22x
Currently, the P/E ratio of Nifty 50 is at 22.5x. Historically, whenever an investment has been made when the PE ratio is more than 22x, 3-year forward returns have been subdued, the report said.
Global rice crisis reminiscent of 2008 Asian food price scare
He drew parallels between the current surge in food prices and the one that rocked the world in 2008, noting that shortage fears are rising for the staple food that feeds billions of people.
FPIs continue to be net sellers in September
Since the market is at record highs and valuations are high FIIs are likely to press sales in the coming days. With high bond yields in the US (the 10-year is at 4.28 per cent) and the dollar index above 105, FIIs are likely to sell more, he added.
ITI best performing small cap stock during the week
Brightcom Group was up 26.4 per cent, IOB was up 20.4 per cent, Central Bank was up 19.8 per cent, SJVN was up 17.7 per cent in the Nifty 250 Small Cap Index.
Government hikes windfall tax on crude oil in fortnightly review
It also reduced the special additional excise duty (SAED) or windfall tax on aviation turbine fuel (ATF) to Rs 3.50 per litre from 4 rupees per litre.
India’s trade deficit declines in August
The official trade figures compiled by the Commerce Ministry show that merchandise exports stood at $34.48 billion in August up from $32.25 billion in July. However, imports during August were also higher at $58.64 billion compared to $52.92 billion in the previous month.
Over 13,000 workers at three US auto plants strike work that could hit US economy
Members walked out at three plants: a GM site in Wentzville, Missouri; a Stellantis centre in Toledo, Ohio; and a Ford assembly location in Wayne, Michigan. General Motors CEO Mary Barra told NBC News that the UAW strike might start to affect the US economy relatively soon, assuming the union and the Big Three don't reach agreements on a new contract.
Amid opposition's criticism of GDP numbers, Centre explains the economics behind it
"India’s real GDP growth was 7.8 per cent year on year in Q1 FY24 (first quarter of 2023-24). This is as per the income or production approach. As per the expenditure approach, it would have been lower. So, a balancing figure – statistical discrepancy – is added to the expenditure approach estimate," the Finance Ministry said in a series of posts on X (formerly Twitter).
US stocks slump on China's economic recovery, could have ripple effect worldwide
US stocks opened lower on Friday as the major indexes failed early on to build on a late Thursday rally. The S&P 500 was down 0.3 per cent, while the Dow Jones Industrial Average slumped by 0.2 per cent. The tech-heavy Nasdaq Composite lost 0.3 per cent, media reports here said.
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