General Awareness

BUSINESS AND ECONOMY - February 2017

Feb 2017

Jul 07, 2018

Volume Growth in Two-wheeler Industry

The two-wheeler (2W) industry continued its growth trajectory in FY2019 with 13% y-o-y volume growth during the first two months.

Outperforming the industry, the motorcycles segment grew by 17.2% y-o-y, backed by strong rural demand, which was buoyed by festival and wedding season.

Tata Steel's Production Rises

Tata Steel reported 7.82% rise in domestic production at 3.17 million tonne and 8% increase in sales at 2.97 million tonne in the June quarter.

Q1 FY19 production is higher than Q4 FY18 mainly due to better plant availability at Kalinganagar.

Jul 06, 2018

Tata Arm Bags Bharat Net's Project

Tata Projects bagged a Rs. 3,057 crore optical fibre cable network project in Chhattisgarh from Bharat Net.

The project, which will benefit about 2.6 crore people of the state, involves the laying of optical fibre network that follows ring architecture with Internet Protocol-Multi Protocol Label Switching (IP-MPLS) technology.

Volvo to Manufacture Electric Vehicles in India

Swedish luxury-car manufacturer Volvo Cars is betting on plug-in hybrid and electric technology over the conventional internal combustion engine (ICE) in the Indian market.

The automaker, which has been aggressive in bringing its global models to India, will stop investing in diesel vehicles here. Instead, it will focus on electric cars and plug-in hybrids, which are electric vehicles that can also run on conventional fuels.

Jul 05, 2018

Yes Bank to Foray into Mutual Fund Business

Yes Bank has received approval from capital markets regulator SEBI to start mutual fund business. This approval is subsequent to the Reserve Bank of India's approval granted to Yes Bank to sponsor a mutual fund followed by SEBI's in-principle approval received subsequently.

Services PMI Returns to Growth

As per a monthly survey, following a marginal contraction in May, the services sector returned to growth during June, supported by a robust increase in new business orders.

The seasonally adjusted Nikkei India Services Business Activity Index rose from 49.6 in May to 52.6, registering the fastest growth since June 2017.

Bank of China Gets Initial Nod

Bank of China, one of the four biggest state-run Chinese lenders, has received in-principle approval from the Reserve Bank of India (RBI) to open branches in India.

According to reports, the approval marks only the first step for a foreign bank seeking to start business in India.

Ola Appoints Simon Smith as MD

As Ola is strengthening its presence in Australia, it has appointed Mr. Simon Smith as MD. Mr. Smith will head and develop the leadership team and play a pivotal role in building Ola's presence including strategy, marketing and product development

Jul 04, 2018

Mohit Gupta Joins Zomato

Mohit Gupta, former MakeMyTrip Chief Operating Officer Online, has joined Zomato as CEO of the food delivery business.

IFC Invests in M&M

World Bank Group member IFC has invested $100 million in Mahindra & Mahindra Financial Services Ltd. (Mahindra Finance).

This would enable India's largest tractor financier to augment growth by extending loans to individuals, including farmers, along with financing small and medium enterprises.

TVS Motor Posts Volume Growth in Q1

TVS Motor Company, the flagship firm of the TVS group, registered a 13.8% growth in volume in the first quarter ended June 2018, when it sold 8.93 lakh units compared with 7.85 lakh units posted a year earlier.

Three-wheeler sales rose more than twice in the first quarter.

The leading manufacturer of two- and three-wheelers posted 14.6% growth in its sales volume for June 2018.

Honda Two Wheelers' June Sales Up

Honda Motorcycle and Scooter India Pvt Ltd (HMSI), has posted a sales growth of 28 per cent in June 2018.

The company's total sales stood at 5,71,020 units in the month of June 2018 against 4,44,528 units of the corresponding month last year.

Jul 03, 2018

SAIL Gets New CMD

The Centre has appointed Saraswati Prasad has been appointed as CMD of Steel Authority of India (SAIL).

His appointment follows the superannuation of P. K. Singh.

Tata Steel Clinches JV with Thyssenkrupp

Tata Steel has agreed to the terms of a 50-50 joint venture with Germany's Thyssenkrupp to create Europe's second-largest steel company after Lakshmi Mittal's ArcelorMittal.

The new steel company will have a total workforce of 48,000 employees spread across 34 sites.

Bharti Infra, Indus Merger

Mobile infrastructure company Bharti Infratel has got the approval of watchdog Competition Commission of India (CCI) for merging its operations with Indus Towers.

The proposed merger values Indus Towers at Rs. 71,500 crore and will create a mobile tower entity with 1.63 lakh towers in all 22 telecom circles.

Infrastructure Sector Growth Dips

The growth in eight infrastructure industries dropped to a 10-month low of 3.6% in May due to a decline in production of crude oil and natural gas.

This is the lowest growth rate since July 2017 when infrastructure industries had expanded by 2.9%.

Manufacturing PMI Highest Since December

According to a private sector survey, manufacturing activity saw its best performance in six months in June, due to strong output levels and new order numbers.

The Nikkei India Purchasing Managers' Index recorded a reading of 53.1 in June, compared to 52.2 in May.

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