- The Talent and Leadership Pipeline Development Committee has been established at the board level by Titagarh Rail Systems.
- Brent crude was down 36 cents at $87.79 per barrel.
- JSW Steel reported consolidated Crude Steel output at 6.41 million tonnes for the second quarter of FY24.
The “Talent and Leadership Pipeline Development Committee,” headed by KK Jalan, has been established at the board level by Titagarh Rail Systems. The customs department has sent Maruti Suzuki India a show-cause notice for improperly using a basic customs tax concession to evade a customs charge of Rs 16.27 lakh.
Traders were cautious on Tuesday as they kept an eye out for potential supply delays due to military hostilities between Israel and the Palestinian Islamist party Hamas, which had increased oil prices by more than 4% the previous day. By 08:05 GMT, Brent crude was down 36 cents at $87.79 per barrel, while WTI crude in the United States was down 35 cents at $86.03 per barrel.
Nifty and Sensex
The International Monetary Fund increased its earlier prediction of 6.1% economic growth for India to 6.3% for the current fiscal year. The international lender anticipates that South Asia’s retail inflation will reach 5.5% in 2023–2024 before declining to 4.6% in 2024–2025.
Phoenix Mills claimed that retail receipts over the same time increased by 23% YoY to Rs 638 crore, while total consumption increased by 20% YoY to Rs 2,637 crore.
As part of a consolidation of its operations close to its corporate office, IDFC First Bank entered into an agreement with the National Securities Depository (NSDL) for the sale of its facilities in Naman Chambers, BKC, Mumbai.
For a period of three years, Lal Singh was named executive director of Bank of Baroda, and as of October 9, Vijaykumar Nivrutti Kamble was named executive director of UCO Bank. Bharat Heavy Electricals Limited (BHEL) has appointed Bania Varma as Director of Industrial Systems and products.
JSW Steel reported consolidated Crude Steel output at 6.41 million tonnes for the second quarter of FY24, an increase of 13% YoY. Due to planned shutdowns at Indian operations and decreased capacity utilization at USA-Ohio as a result of market circumstances, QoQ production is only slightly lower by 3%.
A division of Sterlite Technologies called STL Digital has introduced ‘AInnovTM, a solution fabric of potent Generative AI Services, frameworks, processes, and solutions designed for organizations to drive Generative AI-led innovation and adoption.
In the first half of this fiscal year’s June quarter, Sterlite Power, a provider of power transmission solutions, received orders worth Rs 1,300 crore.
